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Enlight Renewable Energy, a developer of renewable energy projects, has <a href="https://cms.mercomindia.com/enlight-secures-310m-funding-hybrid-renewable-energy-project/" target="_blank" rel="noopener">secured</a> around $310 million for the hybridization of the Gecama Project, located in Spain. The funding was led by the MEAG Infrastructure Debt Transactions team, which also acted as the sole arranger in its capacity as portfolio manager of certain funds and accounts, along with additional institutional co-investors. The funding comprises two tranches, both with a fixed interest rate of ~5.1%, and will be fully amortized by 2045 and 2046, respectively.
European Energy, a renewable energy project developer, has <a href="https://cms.mercomindia.com/european-energy-secures-165-million-renewable-storage-portfolio/" target="_blank" rel="noopener">closed</a> a €145 million (~$165 million) long-term loan agreement with SEB Lithuania and Swedbank Lithuania. The loan covers the Telšiai I and Telšiai II onshore wind farms, each with an installed capacity of 60 MW, and the 78.5 MW Anykščiai solar park. Additionally, it will fund the construction of a new battery storage facility, which will be co-located with the Anykščiai solar park.
Renewable energy developer Serentica Renewables has <a href="https://www.mercomindia.com/serentica-secures-100-million-loan-for-300-mw-solar-project" target="_blank" rel="noopener">announced</a> the closure of its debt financing, exceeding $100 million, from Rabobank and Société Générale. The funds will be used to develop a 300 MW solar power project in Rajasthan. The project will supply renewable energy to Bharat Aluminium Company, a subsidiary of the Vedanta Group. The loan facility is a key part of Serentica’s financing strategy to support its commercial and industrial-focused renewable energy operations.
GIGA Storage, a developer, investor, and operator of large-scale energy storage projects, has <a href="https://cms.mercomindia.com/giga-storage-secures-340-m-giga-leopard-energy-storage-project/" target="_blank" rel="noopener">closed</a> a €300 million (~$340 million) project financing package and commenced construction of the 300 MW/1,200 MWh GIGA Leopard Energy Storage project. GIGA LEOPARD is expected to contribute to balancing the difference between supply and demand on the Dutch electricity grid. The project, located in Delfzijl, the Netherlands, will connect to TenneT’s high-voltage grid via an existing substation and is expected to be commissioned in the second half of 2027.
rPlus Energies, a solar and energy storage project developer, has <a href="https://cms.mercomindia.com/rplus-energies-secures-800-mw-hybrid-energy-project/" target="_blank" rel="noopener">secured</a> over $500 million in tax equity funding commitments to support the development and construction of the Green River Energy project in Emery County, Utah. The project is currently under construction and is scheduled for completion in 2026.
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-arevon-secures-98-m-265-mw-solar-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Enlight Secures $310 Million for Hybrid Renewable Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-enlight-secures-hybrid-renewable-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Enlight Renewable Energy, a developer of renewable energy projects, has <a href="https://mercomcapital.com/enlight-secures-310m-funding-hybrid-renewable-energy-project/" target="_blank" rel="noopener">secured</a> around $310 million for the hybridization of the Gecama Project, located in Spain. The funding was led by the MEAG Infrastructure Debt Transactions team, which also acted as the sole arranger in its capacity as portfolio manager of certain funds and accounts, along with additional institutional co-investors. The funding comprises two tranches, both with a fixed interest rate of ~5.1%, and will be fully amortized by 2045 and 2046, respectively.
European Energy, a renewable energy project developer, has <a href="https://mercomcapital.com/european-energy-secures-165-million-renewable-storage-portfolio/" target="_blank" rel="noopener">closed</a> a €145 million (~$165 million) long-term loan agreement with SEB Lithuania and Swedbank Lithuania. The loan covers the Telšiai I and Telšiai II onshore wind farms, each with an installed capacity of 60 MW, and the 78.5 MW Anykščiai solar park. Additionally, it will fund the construction of a new battery storage facility, which will be co-located with the Anykščiai solar park.
Renewable energy developer Serentica Renewables has <a href="https://www.mercomindia.com/serentica-secures-100-million-loan-for-300-mw-solar-project" target="_blank" rel="noopener">announced</a> the closure of its debt financing, exceeding $100 million, from Rabobank and Société Générale. The funds will be used to develop a 300 MW solar power project in Rajasthan. The project will supply renewable energy to Bharat Aluminium Company, a subsidiary of the Vedanta Group. The loan facility is a key part of Serentica’s financing strategy to support its commercial and industrial-focused renewable energy operations.
GIGA Storage, a developer, investor, and operator of large-scale energy storage projects, has <a href="https://mercomcapital.com/giga-storage-secures-340-m-giga-leopard-energy-storage-project/" target="_blank" rel="noopener">closed</a> a €300 million (~$340 million) project financing package and commenced construction of the 300 MW/1,200 MWh GIGA Leopard Energy Storage project. GIGA LEOPARD is expected to contribute to balancing the difference between supply and demand on the Dutch electricity grid. The project, located in Delfzijl, the Netherlands, will connect to TenneT’s high-voltage grid via an existing substation and is expected to be commissioned in the second half of 2027.
rPlus Energies, a solar and energy storage project developer, has <a href="https://mercomcapital.com/rplus-energies-secures-800-mw-hybrid-energy-project/" target="_blank" rel="noopener">secured</a> over $500 million in tax equity funding commitments to support the development and construction of the Green River Energy project in Emery County, Utah. The project is currently under construction and is scheduled for completion in 2026.
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-arevon-secures-98-m-265-mw-solar-projects/" target="_blank" rel="noopener">brief</a>.

<a href="https://giga-storage.com/en/" target="_blank" rel="noopener">GIGA Storage</a>, a developer, investor, and operator of large-scale energy storage projects, has closed a €300 million (~$340 million) project financing package and commenced construction of the 300 MW/1,200 MWh GIGA Leopard Energy Storage project.
GIGA LEOPARD is expected to contribute to balancing the difference between supply and demand on the Dutch electricity grid. The project, located in Delfzijl, the Netherlands, will connect to TenneT&#8217;s high-voltage grid via an existing substation and is expected to be commissioned in the second half of 2027.
The funding was arranged as a “club deal” with a group of 8 European lenders. Santander CIB and Clifford Chance advised GIGA Storage, while Norton Rose Fulbright advised the lending group for this funding.
“We are committed to successfully bringing to service Leopard on time for 2027, building on our track record and innovative, scalable approach to delivering large-scale battery storage projects. The construction of this project on the former Aldel aluminum smelter site in Delfzijl marks a new chapter that builds on the area&#8217;s rich industrial heritage while paving the way for a sustainable future,” says Kevin Dijkers, CEO of GIGA Storage.
In 2022, Rabobank, through its division Rabo Investments, announced that it had acquired a minority interest in GIGA Storage, aimed at helping the company expand its large-scale energy storage network.
According to Mercom’s Q1 2025 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2025-funding-ma-report-energy-storage/" target="_blank" rel="noopener">Report</a> for Energy Storage and Smart Grid, announced Energy Storage project funding increased 142% year over year in 2025.
In May, BW ESS, an energy storage project developer and operator, <a href="https://cms.mercomindia.com/bw-ess-secures-debt-financing-bramley-battery-energy-storage-project/" target="_blank" rel="noopener">secured</a> debt financing from Westpac, an Australian bank, and United Overseas Bank (UOB) based in Singapore. According to the agreement, Westpac and UOB will each contribute 50% to the debt facility. While CMS acted as legal advisor to BW ESS, Ashurst was appointed legal advisor to the lenders. Everoze and Baringa acted as technical and market advisors, respectively.

GIGA Storage Secures $340 Million for GIGA Leopard Energy Storage Project

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