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					</table><a href="https://fr.greenyellow.com/" target="_blank" rel="noopener">GreenYellow</a>, a France-based energy platform providing solar, battery storage, and energy efficiency solutions, has secured over €800 million (~$938 million) to refinance its existing corporate debt and support future growth.
The transaction was supported by a consortium of international lenders, including Allianz Global Investors, Banco Santander, BNP Paribas, BPifrance, Crédit Agricole CIB, BPCE Energeco, La Banque Postale, MUFG, Rabobank, SMBC, and Société Générale. Santander Corporate and Investment Banking acted as exclusive financial advisor, mandated lead arranger, bookrunner, and agent.
The company provides on-site solar generation, energy efficiency upgrades, battery energy storage systems (BESS), and smart energy management solutions. Its platform enables customers to optimize energy consumption.
&#8220;This historic financing of €800 million (~$938 million) marks a strategic turning point for GreenYellow. It gives us the means to achieve our mission: to free companies from the volatility of energy prices by combining independence and decarbonization. In a market where energy has become the primary driver of industrial competitiveness, we are moving to the next level to ensure our clients have control over their energy bills,&#8221; said Otmane Hajji, President at GreenYellow.
The financing is expected to increase the company’s resources by approximately 35%, enabling it to accelerate deployment and pursue targeted acquisitions.
&#8220;This transaction strengthens our capital structure and liquidity and gives us access to a financial resource at a competitive cost, while providing the visibility needed to execute on our growth plan,&#8221; added Stéphane Feldmann, Chief Financial Officer of GreenYellow.
In 2023, the company <a href="https://mercomcapital.com/greenyellow-secures-financing-for-solar-projects/" target="_blank" rel="noopener">secured</a> €31 million (~$33.25 million) financing with Caisse d’Epargne CEPAC, acting as Mandated Arranger, and Natixis, acting as Cover Bank, for the construction of 55 solar power plants totaling 32 MW in mainland France and the French overseas territories.
Announced debt financing in the solar sector came to $16.1 billion in 2025, 14% lower <a href="https://mercomcapital.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">compared</a> to $18.8 billion in 2024, according to Mercom’s Annual and Q4 2025 Solar Funding and M&amp;A report.

GreenYellow Secures $938 Million to Refinance Debt and Fund Expansion

Altus Power, an independent developer, owner, and operator of commercial-scale solar facilities, <a href="https://cms.mercomindia.com/altus-power-acquires-121-mw-of-solar-projects/" target="_blank" rel="noopener">announced</a> the acquisition of Project Hyperion, which owns 121 MW of solar power projects in North and South Carolina. Altus acquired the projects using the funds advised by Basalt Infrastructure Partners and Soltage, an owner and developer of distributed solar and storage assets.
Emeren, a solar project developer, announced the <a href="https://cms.mercomindia.com/emeren-acquires-solar-portfolio-in-spain/" target="_blank" rel="noopener">acquisition</a> of an 86 MW utility-scale solar power project portfolio in Spain from Negratin Global Services, an industrial and service group company. The project portfolio comprises 13 utility-scale solar projects ranging from 6 MW to 14 MW. All the projects are in the ready-to-build stage and are expected to begin construction in late 2024.
European Energy, a solar project developer, announced the <a href="https://cms.mercomindia.com/european-energy-sells-over-100-mw-solar-wind-projects/" target="_blank" rel="noopener">sale</a> of three renewable energy projects in Germany and the UK, with a cumulative capacity of over 100 MW. The projects include Bubney Solar Farm in the UK, with a capacity of 40.4 MW, and the Bloosballich Wind Park in Germany, with a 12.6 MW capacity. The divestment also included an additional wind power project in Germany, which the company did not name and accounted for the remaining capacity.
Dominion, an electric utility company, <a href="https://cms.mercomindia.com/dominion-sells-38-mw-solar-project-spain/" target="_blank" rel="noopener">sold</a> the 37.83 MW Valdecarretas solar photovoltaic project in Spain to Renewables Japan Corporation, a Japan-headquarter power generation company. The Valdecarretas photovoltaic park is located in Zamora (Spain) and has been operating since its commissioning last July.
In a first-of-its-kind transaction undertaken by a public sector undertaking, SJVN, a joint venture between the Government of India and the state of Himachal Pradesh, <a href="https://www.mercomindia.com/sjvn-%e2%82%b9100-billion-fund-construction-renewable-projects" target="_blank" rel="noopener">secured</a> ₹100 billion (~$1.2 billion) of Construction Financing Facility to fund its upcoming renewable power projects. The financing was raised by Deutsche Bank, State Bank of India, Punjab National Bank, Bank of India and, Mitsubishi and United Financial of Japan Financial Group (MUFG) Bank.
GreenYellow, a decentralized solar photovoltaic production company, <a href="https://fr.greenyellow.com/en/news/greenyellow-acquires-three-asset-portfolios-demeter" target="_blank" rel="noopener">announced</a> the acquisition of three portfolios of operational solar assets from Demeter Investment Managers totaling 20 MW in France. The acquired assets include Eifficentre, a portfolio of energy efficiency projects in partnership with Eiffage, as well as the solar power plants Vanilla Solar and Lavanda Solar.
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-encavis-acquires-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Altus Power Acquires 121 MW Solar Projects

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-altus-power-acquires-solar-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
Altus Power, an independent developer, owner, and operator of commercial-scale solar facilities, <a href="https://mercomcapital.com/altus-power-acquires-121-mw-of-solar-projects/" target="_blank" rel="noopener">announced</a> the acquisition of Project Hyperion, which owns 121 MW of solar power projects in North and South Carolina. Altus acquired the projects using the funds advised by Basalt Infrastructure Partners and Soltage, an owner and developer of distributed solar and storage assets.
Emeren, a solar project developer, announced the <a href="https://mercomcapital.com/emeren-acquires-solar-portfolio-in-spain/" target="_blank" rel="noopener">acquisition</a> of an 86 MW utility-scale solar power project portfolio in Spain from Negratin Global Services, an industrial and service group company. The project portfolio comprises 13 utility-scale solar projects ranging from 6 MW to 14 MW. All the projects are in the ready-to-build stage and are expected to begin construction in late 2024.
European Energy, a solar project developer, announced the <a href="https://mercomcapital.com/european-energy-sells-over-100-mw-solar-wind-projects/" target="_blank" rel="noopener">sale</a> of three renewable energy projects in Germany and the UK, with a cumulative capacity of over 100 MW. The projects include Bubney Solar Farm in the UK, with a capacity of 40.4 MW, and the Bloosballich Wind Park in Germany, with a 12.6 MW capacity. The divestment also included an additional wind power project in Germany, which the company did not name and accounted for the remaining capacity.
Dominion, an electric utility company, <a href="https://mercomcapital.com/dominion-sells-38-mw-solar-project-spain/" target="_blank" rel="noopener">sold</a> the 37.83 MW Valdecarretas solar photovoltaic project in Spain to Renewables Japan Corporation, a Japan-headquarter power generation company. The Valdecarretas photovoltaic park is located in Zamora (Spain) and has been operating since its commissioning last July.
In a first-of-its-kind transaction undertaken by a public sector undertaking, SJVN, a joint venture between the Government of India and the state of Himachal Pradesh, <a href="https://www.mercomindia.com/sjvn-%e2%82%b9100-billion-fund-construction-renewable-projects" target="_blank" rel="noopener">secured</a> ₹100 billion (~$1.2 billion) of Construction Financing Facility to fund its upcoming renewable power projects. The financing was raised by Deutsche Bank, State Bank of India, Punjab National Bank, Bank of India and, Mitsubishi and United Financial of Japan Financial Group (MUFG) Bank.
GreenYellow, a decentralized solar photovoltaic production company, <a href="https://fr.greenyellow.com/en/news/greenyellow-acquires-three-asset-portfolios-demeter" target="_blank" rel="noopener">announced</a> the acquisition of three portfolios of operational solar assets from Demeter Investment Managers totaling 20 MW in France. The acquired assets include Eifficentre, a portfolio of energy efficiency projects in partnership with Eiffage, as well as the solar power plants Vanilla Solar and Lavanda Solar.
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-encavis-acquires-solar-project/" target="_blank" rel="noopener">brief</a>.

Matrix Renewables, the TPG Rise-backed renewable energy platform, <a href="https://cms.mercomindia.com/matrix-renewables-secures-for-50-mw-solar-project/" target="_blank" rel="noopener">secured</a> €47 million (~$50.47 million) non-recourse financing for constructing a 50 MW solar power project in the La Rinconada municipality area in Seville province of Spain. The project funding was provided by Banco Sabadell, which also acted as the sole loan coordinator. The project construction began in May 2023 and is expected to start operating by the first quarter of 2024.
Keppel MET Renewables, a renewable energy investment firm, <a href="https://cms.mercomindia.com/keppel-met-acquires-38-mw-solar-project-in-italy/" target="_blank" rel="noopener">acquired</a> a 100% stake in a 38 MW solar project in southern Italy. The project is currently in an early stage of development, expected to reach ready-to-build status in 2025 and start commercial operations in 2026.
The Dubai Electricity and Water Authority and Abu Dhabi Future Energy Company Masdar <a href="https://www.mercomindia.com/uaes-masdar-to-develop-solar-park-for-dewa" target="_blank" rel="noopener">signed</a> an agreement to construct and operate the 1.8 GW sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The project will cost up to AED5.51 billion (~$1.5 billion).
Germany-based independent power producer Encavis <a href="https://cms.mercomindia.com/encavis-acquires-28-mw-of-solar-project-in-spain/" target="_blank" rel="noopener">acquired</a> a 28 MW solar project in Spain from ILOS Projects. The construction of the solar project is expected to begin shortly, and the grid connection is planned for the end of 2024. Once completed, the project will generate more than 50 GWh of renewable energy annually.
BlueWave, a solar and storage project developer, <a href="https://cms.mercomindia.com/bluewave-secures-financing-agrivoltaics-projects-massachusetts/" target="_blank" rel="noopener">secured</a> $91 million in financing from KeyBank and U.S. Bancorp Impact Finance for the construction and long-term financing of five agrivoltaic solar projects in Massachusetts. The financing includes a debt raise of $64 million with KeyBank and a tax equity raise of $27 million with U.S. Bancorp Impact Finance.
GreenYellow, a renewable energy project developer, <a href="https://cms.mercomindia.com/greenyellow-secures-financing-for-solar-projects/" target="_blank" rel="noopener">secured</a> €31 million (~$33.25 million) financing with Caisse d’Epargne CEPAC, acting as Mandated Arranger, and Natixis, acting as Cover Bank for the construction of 55 solar power projects totaling 32 MW in mainland France and the French overseas territories.
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-recurrent-energy-secures-solar-project-oklahoma/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Matrix Renewables Secures Financing for 50 MW Solar Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-matrix-renewables-secures-financing/" target="_blank" rel="noopener">Mercom Capital Group</a>
Matrix Renewables, the TPG Rise-backed renewable energy platform, <a href="https://mercomcapital.com/matrix-renewables-secures-for-50-mw-solar-project/" target="_blank" rel="noopener">secured</a> €47 million (~$50.47 million) non-recourse financing for constructing a 50 MW solar power project in the La Rinconada municipality area in Seville province of Spain. The project funding was provided by Banco Sabadell, which also acted as the sole loan coordinator. The project construction began in May 2023 and is expected to start operating by the first quarter of 2024.
Keppel MET Renewables, a renewable energy investment firm, <a href="https://mercomcapital.com/keppel-met-acquires-38-mw-solar-project-in-italy/" target="_blank" rel="noopener">acquired</a> a 100% stake in a 38 MW solar project in southern Italy. The project is currently in an early stage of development, expected to reach ready-to-build status in 2025 and start commercial operations in 2026.
The Dubai Electricity and Water Authority and Abu Dhabi Future Energy Company Masdar <a href="https://www.mercomindia.com/uaes-masdar-to-develop-solar-park-for-dewa" target="_blank" rel="noopener">signed</a> an agreement to construct and operate the 1.8 GW sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The project will cost up to AED5.51 billion (~$1.5 billion).
Germany-based independent power producer Encavis <a href="https://mercomcapital.com/encavis-acquires-28-mw-of-solar-project-in-spain/" target="_blank" rel="noopener">acquired</a> a 28 MW solar project in Spain from ILOS Projects. The construction of the solar project is expected to begin shortly, and the grid connection is planned for the end of 2024. Once completed, the project will generate more than 50 GWh of renewable energy annually.
BlueWave, a solar and storage project developer, <a href="https://mercomcapital.com/bluewave-secures-financing-agrivoltaics-projects-massachusetts/" target="_blank" rel="noopener">secured</a> $91 million in financing from KeyBank and U.S. Bancorp Impact Finance for the construction and long-term financing of five agrivoltaic solar projects in Massachusetts. The financing includes a debt raise of $64 million with KeyBank and a tax equity raise of $27 million with U.S. Bancorp Impact Finance.
GreenYellow, a renewable energy project developer, <a href="https://mercomcapital.com/greenyellow-secures-financing-for-solar-projects/" target="_blank" rel="noopener">secured</a> €31 million (~$33.25 million) financing with Caisse d’Epargne CEPAC, acting as Mandated Arranger, and Natixis, acting as Cover Bank for the construction of 55 solar power projects totaling 32 MW in mainland France and the French overseas territories.
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-recurrent-energy-secures-solar-project-oklahoma/" target="_blank" rel="noopener">brief</a>.

<a href="https://fr.greenyellow.com/" target="_blank" rel="noopener">GreenYellow</a>, a renewable energy project developer, secured €31 million (~$33.25 million) financing with Caisse d&#8217;Epargne CEPAC, acting as Mandated Arranger, and Natixis, acting as Cover Bank for the construction of 55 solar power plants totaling 32 MW in mainland France and the French overseas territories.
This financing operation, which closes on July 21, 2023, consists of 3 tranches and will enable the construction of 55 solar plants by the end of 2024, including a 2.2 MW self-consumption plant, representing 7% of the total capacity.
The financing model for this portfolio is customized to suit the unique characteristics of each project, including progressive commissioning as the portfolio progresses.
This portfolio is diverse, including four geographical regions: mainland France and overseas territories of Guadeloupe, Martinique (West Indies), and French Guiana; Two technologies: carport and rooftop solar plants; A wide range of installed capacities, from 100 kW to 11,000 kW and four types of contracts for the sale of electricity: CRE (the Energy Regulatory Commission) calls for tenders with or without market sale (&#8220;Mesure d&#8217;urgence&#8221;), Guichet Ouvert and Self-consumption.
Stanislas LEBEL, CFO of GreenYellow France, comments: &#8221; GreenYellow is delighted to be working with CEPAC and BPCE Group on this transaction, which represents an important milestone in our long-term operator strategy. This portfolio financing also testifies to the expertise of GreenYellow France&#8217;s teams in development, financing and construction of a wide variety of projects in mainland France and the French overseas territories.&#8221;
According to Mercom’s 1H and Q2 2023 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-q2-2023-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, the announced large-scale project funding in Q2 2023 reached $9.5 billion in 51 deals, a 79% increase QoQ compared to $5.3 billion raised in 62 deals in Q1 2023.
Matrix Renewables, the TPG Rise-backed renewable energy platform, <a href="https://cms.mercomindia.com/matrix-renewables-secures-for-50-mw-solar-project/" target="_blank" rel="noopener">recently</a> secured €47 million (~$50.47 million) non-recourse financing for constructing a 50 MW solar power project in the La Rinconada municipality area in Seville province of Spain.

GreenYellow Secures $33 Million Financing for 32 MW of Solar Projects

From: <a href="https://mercomcapital.com/project-finance-brief-edf-renewables-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
GreenYellow, an operator of green energy in Madagascar, Axian, a Pan-African group, Societe Generale, GuarantCo, the guarantee arm of the Private Infrastructure Development Group, and African Guarantee Fund have <a href="https://tinyurl.com/mercomgymw" target="_blank" rel="noopener noreferrer">closed</a> an MGA 73.8 billion (~$19 million) transaction to support the debt funding of the 20 MW solar PV project in Ambatolampy, Madagascar. This project is the largest in the country and was operated and built by GreenYellow. It has been operational since 2018.
Sol Customer Solutions, a joint venture between Capital Dynamics’ clean energy infrastructure (CEI) business and Sol Systems, has <a href="https://tinyurl.com/mercomdsgi" target="_blank" rel="noopener noreferrer">secured</a> a distributed generation tax equity commitment from the Bank of America. The second tranche funding under the tax equity commitment occurred in September of 2020 and seeded four additional projects. Included are Rock Falls, a 1.3 MW ground-mount solar project in Illinois, supplying power to the City of Rock Falls through a PPA with IMEA, and three additional Walmart projects in California developed by Sol Customer Solutions totaling 2.4 MW.
Etrion Corporation, an independent power producer, has <a href="https://www.etrion.com/site/assets/files/4266/etrion-completes-mie_sale.pdf" target="_blank" rel="noopener noreferrer">completed</a> the sale of its investment interest in the Mie 60 MW solar project and received JPY 3.4 billion (~$32.2 million). Also, Etrion’s subsidiary, Etrion Japan KK, has been paid a development fee of JPY 300 million (~$2.8 million). Earlier this month, Etrion Japan KK also received JPY 700 million (~$6.6 million) as compensation for work performed to date. In aggregate, Etrion has received a total of JPY 4.4 billion (~$41.6 million) for this project.
EDF Renewables North America, an independent power producer, and services provider, and Geenex Solar, a utility-scale project developer, <a href="https://tinyurl.com/mercompjmd" target="_blank" rel="noopener noreferrer">announced</a> the close of an acquisition agreement of up to 4.5 GW pipeline of solar development assets throughout PJM. The transaction will accelerate EDFR growth in the PJM wholesale electricity market to meet the growing demands of corporate and utility customers seeking cost-effective renewable energy sources. Jefferies Financial Group served as exclusive financial advisor to Geenex.
Sonnedix, an independent solar power producer, <a href="https://www.sonnedix.com/news/sonnedix-reaches-244-mw-of-operating-capacity-in-italy" target="_blank" rel="noopener noreferrer">acquired</a> a 1.3 MW operating solar PV portfolio from Genergy in Italy. The portfolio is under the Italian Conto Energia II &#8211; Salva Alcoa (feed-in tariff) scheme and has been in operations since 2011. 
Polish solar projects developer R.Power Group <a href="https://tinyurl.com/mercomgbpj" target="_blank" rel="noopener noreferrer">secured</a> a loan financing agreement to get PLN 102 million (~$26.M) in debt to back a 29.4 MW solar portfolio in Poland. The debt funding will be provided by mBank and will support the construction of 32 solar parks across Poland. The Polish firm plans to initiate construction later this year and aim to bring the solar farms online in the third quarter of 2021.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener noreferrer">here</a>.
Read last week’s project finance <a href="https://mercomindia.com/funding-and-ma-wrap-up-scatec-solar/" target="_blank" rel="noopener noreferrer">brief</a>.
Image credit: Amplus Solar

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