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					</table><a href="https://eurowindenergy.com/" target="_blank" rel="noopener">Eurowind Energy</a>, a Denmark-based renewable energy project developer, has entered into a definitive agreement with <a href="https://www.blackstone.com/" target="_blank" rel="noopener">Blackstone Infrastructure</a> for an investment of up to €2 billion ($2.34 billion).
The investment will give Blackstone an initial 24.7% ownership stake in Eurowind Energy. Blackstone will become a co-owner, while Eurowind Energy’s founders, including Chief Executive Officer Jens Rasmussen, Søren Rasmussen, and Jakob Kortbæk, along with energy and telecommunications group Norlys, will retain majority ownership.
Eurowind Energy develops, constructs, and operates renewable energy projects, including onshore wind, solar, battery storage, and biogas facilities. The company operates across 16 European countries and has a total installed capacity of approximately 1.6 GW.
The capital from Blackstone is intended to support Eurowind Energy’s development pipeline as electricity demand in Europe increases. The company cited electrification, artificial intelligence-driven demand, reindustrialization, and energy security needs as drivers of expected annual power demand growth of more than 3% through 2040.
Adam Kuhnley, Co-Head of European Investments, Blackstone Infrastructure, said: “Significant capital will be required to meet European energy demand in the coming years, and Blackstone is well-positioned to support and accelerate Europe’s energy infrastructure build-out. Over the past two decades, Jens Rasmussen and the management team have built an outstanding, vertically integrated renewables platform, and we are excited to partner with them and Norlys to accelerate Eurowind’s long-term clean energy deployment across Europe.”
Barclays, Nomura Greentech, and Santander were Blackstone’s mergers and acquisitions advisors for the transaction. Latham &amp; Watkins and HortenDahl served as its legal advisors, while Kromann Reumert acted as legal advisors to Eurowind Energy.
The transaction is expected to close before the end of the year, subject to customary conditions.
According to Mercom’s Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, M&amp;A activity was 17% higher YoY in 2025, with 96 corporate M&amp;A transactions compared to 82 in 2024.
In April 2026, U.S.-based Headwater Energy, a utility-scale solar and energy storage development firm, completed the <a href="https://mercomcapital.com/headwater-energy-acquires-solar-storage-developer-arena-renewables/" target="_blank" rel="noopener">acquisition</a> of Arena Renewables, a distributed generation solar and battery energy storage system developer.

Blackstone to Invest Up to $2 Billion in Eurowind Energy

Atlas Renewable Energy, a solar and wind project developer, <a href="https://cms.mercomindia.com/atlas-renewable-energy-secures-113-million-financing-for-solar-project/" target="_blank" rel="noopener">secured</a> a COP 473.77 billion (~$113 million) senior loan to develop, construct, and operate the 201 MW Shangri-La solar project in the Tolima Department of Colombia. IDB Invest and Bancolombia provided the financial package. The project is expected to reach commercial operation at the end of 2025.
Sol Systems, a solar finance and development company, <a href="https://cms.mercomindia.com/sol-systems-acquires-2-gw-of-hybrid-solar-and-storage-projects/" target="_blank" rel="noopener">announced</a> the acquisition of over 2 GW of utility-scale hybrid solar and storage projects across the Midwest from Tenaska, the Omaha-based energy company. The portfolio spans multiple states within the Midwest. The projects, each exceeding 100 MW, are expected to reach commercial operation between 2028 and 2029.
Eurowind Energy, a Danish-based renewable energy project developer, <a href="https://cms.mercomindia.com/eurowind-energy-acquires-eleven-solar-projects-totaling-55-mw-in-portugal/" target="_blank" rel="noopener">announced</a> the signing of a shares purchase agreement in August to acquire 11 solar projects with 5 MWac capacity each. Most of the projects are grouped in clusters of three (15 MW each), and all are in the Aveiro district in the center of Portugal. The projects are currently in an advanced stage of development and are expected to reach the ready-to-build stage between Q3 2024 and Q2 2025.
OX2, a solar and energy storage project developer, announced the <a href="https://cms.mercomindia.com/ox2-sells-two-solar-projects-totaling-137-mw-in-australia/" target="_blank" rel="noopener">sale</a> of two solar projects totaling 137 MWp/105 MWac to European Energy, a Danish renewable energy project developer. The deal includes project rights for the 106 MWp/80 MWac Lancaster solar in Victoria and the 31 MWp/25 MWac Mulwala solar in New South Wales, Australia. The construction of both projects is scheduled to begin in the first quarter of 2025, and commercial operations are expected in 2026.
Encavis, a solar and wind project developer, has <a href="https://cms.mercomindia.com/encavis-secures-67-million-financing-for-114-mw-solar-project/" target="_blank" rel="noopener">signed</a> a non-recourse project financing agreement of €60.7 million (~$67.10 million) for its 114.2 MW Lindenhof solar project in Germany. Bayerische Landesbank, a long-standing financing partner of ENCAVIS for years, provided the financing, thereby supporting the group’s future growth strategy. In total, the funding includes €46.8 million (~$51.73 million) in term loan facilities, a €2.75 million (~$3.04 million) VAT facility, and €11.1 million (~$12.27 million) in letter of credit facilities.
Click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week&#8217;s project finance <a href="https://cms.mercomindia.com/project-finance-brief-ox2-sells-solar-project-australia/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Atlas Secures $113 Million Financing for Solar Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-atlas-secures-financing-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Atlas Renewable Energy, a solar and wind project developer, <a href="https://mercomcapital.com/atlas-renewable-energy-secures-113-million-financing-for-solar-project/" target="_blank" rel="noopener">secured</a> a COP 473.77 billion (~$113 million) senior loan to develop, construct, and operate the 201 MW Shangri-La solar project in the Tolima Department of Colombia. IDB Invest and Bancolombia provided the financial package. The project is expected to reach commercial operation at the end of 2025.
Sol Systems, a solar finance and development company, <a href="https://mercomcapital.com/sol-systems-acquires-2-gw-of-hybrid-solar-and-storage-projects/" target="_blank" rel="noopener">announced</a> the acquisition of over 2 GW of utility-scale hybrid solar and storage projects across the Midwest from Tenaska, the Omaha-based energy company. The portfolio spans multiple states within the Midwest. The projects, each exceeding 100 MW, are expected to reach commercial operation between 2028 and 2029.
Eurowind Energy, a Danish-based renewable energy project developer, <a href="https://mercomcapital.com/eurowind-energy-acquires-eleven-solar-projects-totaling-55-mw-in-portugal/" target="_blank" rel="noopener">announced</a> the signing of a shares purchase agreement in August to acquire 11 solar projects with 5 MWac capacity each. Most of the projects are grouped in clusters of three (15 MW each), and all are in the Aveiro district in the center of Portugal. The projects are currently in an advanced stage of development and are expected to reach the ready-to-build stage between Q3 2024 and Q2 2025.
OX2, a solar and energy storage project developer, announced the <a href="https://mercomcapital.com/ox2-sells-two-solar-projects-totaling-137-mw-in-australia/" target="_blank" rel="noopener">sale</a> of two solar projects totaling 137 MWp/105 MWac to European Energy, a Danish renewable energy project developer. The deal includes project rights for the 106 MWp/80 MWac Lancaster solar in Victoria and the 31 MWp/25 MWac Mulwala solar in New South Wales, Australia. The construction of both projects is scheduled to begin in the first quarter of 2025, and commercial operations are expected in 2026.
Encavis, a solar and wind project developer, has <a href="https://mercomcapital.com/encavis-secures-67-million-financing-for-114-mw-solar-project/" target="_blank" rel="noopener">signed</a> a non-recourse project financing agreement of €60.7 million (~$67.10 million) for its 114.2 MW Lindenhof solar project in Germany. Bayerische Landesbank, a long-standing financing partner of ENCAVIS for years, provided the financing, thereby supporting the group’s future growth strategy. In total, the funding includes €46.8 million (~$51.73 million) in term loan facilities, a €2.75 million (~$3.04 million) VAT facility, and €11.1 million (~$12.27 million) in letter of credit facilities.
Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-ox2-sells-solar-project-australia/" target="_blank" rel="noopener">brief</a>.

<a href="https://eurowindenergy.com/" target="_blank" rel="noopener">Eurowind Energy</a>, a Danish-based renewable energy project developer, announced the signing of a shares purchase agreement in August to acquire 11 solar projects with 5 MWac capacity each. Most of the projects are grouped in clusters of three (15 MW each), and all are in the Aveiro district in the center of Portugal.
The projects are currently in an advanced stage of development and are expected to reach the ready-to-build stage between Q3 2024 and Q2 2025. Insun is developing solar projects.
Currently, Eurowind Energy is conducting a tender process to award a contract for the balance of plant construction activities, including all the civil, mechanical, and electrical works and the grid interconnection lines.
The acquisition will materialize only for the projects that reach the ready-to-build stage, as per the agreement signed.
“The acquisition of the Aveiro PV projects is the result of hard work for the most part of one year, between our team and Insun. I’m glad that we had a long but smooth negotiation process thanks to both parties’ large experience in these kinds of deals. I’m thrilled about closing on this transaction and kicking off the construction of these projects within the end of this year,” states Joaquim Pinto, Eurowind Energy’s Country Manager for Portugal.
According to Mercom’s 1H and Q2 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-and-q2-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, 113 solar project acquisitions totaling 18.5 GW were announced in 1H 2024 compared to 116 project acquisitions totaling 25.5 GW in 1H 2023.
Last week, OX2, a solar and energy storage project developer, announced the <a href="https://cms.mercomindia.com/ox2-sells-two-solar-projects-totaling-137-mw-in-australia/" target="_blank" rel="noopener">sale</a> of two solar projects totaling 137 MWp/105 MWac to European Energy, a Danish renewable energy project developer. The deal includes project rights for the 106 MWp/80 MWac Lancaster solar in Victoria and the 31 MWp/25 MWac Mulwala solar in New South Wales.

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