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SUSI Partners, a Swiss-based fund manager, and SMT Energy, an energy storage project developer, have <a href="https://cms.mercomindia.com/smt-energy-susi-partners-secure-investment-for-energy-storage-project-portfolio/" target="_blank" rel="noopener">secured</a> a tax equity investment from specialized tax equity investor Greenprint Capital for a co-owned 100 MW battery energy storage portfolio located in South Texas. The portfolio consists of ten utility-scale standalone battery energy storage projects expected to help stabilize the region’s strained power grids by balancing supply and demand mismatches.
Swift Current Energy, a U.S.-based utility-scale renewable developer, has <a href="https://www.mercomindia.com/swift-current-energy-779-million-593-mw-solar-project" target="_blank" rel="noopener">secured</a> $779 million in financing for its Double Black Diamond Solar project, with a capacity of 800 MWdc (593 MWac). Comprising $695 million in construction and tax equity bridge loans, along with an $84 million letter of credit facility, this financing is claimed to be among the most substantial solar project funding endeavors in the U.S. The company claimed that the Double Black Diamond Solar project will be the second-largest single-phase solar undertaking in the U.S.
Norwegian investment fund Norfund has <a href="https://www.mercomindia.com/norfund-ifc-investment-fourth-partner" target="_blank" rel="noopener">announced</a> an investment of ₹3.5 billion (~$42.26 million) in Fourth Partner Energy to support its renewables expansion in India. Separately, the International Finance Corporation announced an investment of ₹5.6 billion (~$67.62 million) to support the installation of the company’s rooftop solar projects and 75 MW solar park in Atharga, Karnataka. Fourth Partner will use the Norfund investment to support its off-site solar and wind projects for this fiscal year, under development in Tamil Nadu, Karnataka, Maharashtra, and Uttar Pradesh.
Luminous Energy, a solar and energy storage project developer, <a href="https://cms.mercomindia.com/luminous-energy-secures-financial-closure-for-solar-project/" target="_blank" rel="noopener">closed</a> financing on the 28.5 MW Bracon Ash UK Solar Farm. The project is expected to start generating power in the summer of 2024 and generate enough electricity to power more than 9,500 households annually. The firm announced Novuna Business Finance as the funding partner supporting the project. The transaction details were not disclosed for the deal.
ID Energy Group, a vertically integrated Spain-based renewable energy company, <a href="https://cms.mercomindia.com/id-energy-group-secures-debt-financing-solar-wind-projects/" target="_blank" rel="noopener">secured</a> a development debt facility to support its pipeline of late-stage solar PV and onshore wind projects in Europe. The facility was entirely subscribed by a newly established European debt fund, further solidifying its position as a strategic partner of the group. The project pipeline comprises 67 individual projects, varying in size from 1 MW to 150 MW.
Greenbacker Capital Management, a renewable energy asset manager, through an affiliated investment vehicle, <a href="https://greenbackercapital.com/2023/08/greenbacker-partners-with-rbc-community-investments-to-complete-one-of-clean-energy-industrys-first-solar-ptc-deals/" target="_blank" rel="noopener">completed</a> a $148 million tax equity financing commitment with RBC Community Investments. The commitment is one of the very first tax equity deals to utilize the solar production tax credit (“PTC”), which will be used to finance a 240 MW of Appaloosa solar project in Utah.
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-broad-reach-bess-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: SMT Energy, SUSI Partners Secure Funds for 100 MW BESS Portfolio

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-smt-energy-susi-partners-bess-portfolio/" target="_blank" rel="noopener">Mercom Capital Group</a>
SUSI Partners, a Swiss-based fund manager, and SMT Energy, an energy storage project developer, have <a href="https://mercomcapital.com/smt-energy-susi-partners-secure-investment-for-energy-storage-project-portfolio/" target="_blank" rel="noopener">secured</a> a tax equity investment from specialized tax equity investor Greenprint Capital for a co-owned 100 MW battery energy storage portfolio located in South Texas. The portfolio consists of ten utility-scale standalone battery energy storage projects expected to help stabilize the region’s strained power grids by balancing supply and demand mismatches.
Swift Current Energy, a U.S.-based utility-scale renewable developer, has <a href="https://www.mercomindia.com/swift-current-energy-779-million-593-mw-solar-project" target="_blank" rel="noopener">secured</a> $779 million in financing for its Double Black Diamond Solar project, with a capacity of 800 MWdc (593 MWac). Comprising $695 million in construction and tax equity bridge loans, along with an $84 million letter of credit facility, this financing is claimed to be among the most substantial solar project funding endeavors in the U.S. The company claimed that the Double Black Diamond Solar project will be the second-largest single-phase solar undertaking in the U.S.
Norwegian investment fund Norfund has <a href="https://www.mercomindia.com/norfund-ifc-investment-fourth-partner" target="_blank" rel="noopener">announced</a> an investment of ₹3.5 billion (~$42.26 million) in Fourth Partner Energy to support its renewables expansion in India. Separately, the International Finance Corporation announced an investment of ₹5.6 billion (~$67.62 million) to support the installation of the company’s rooftop solar projects and 75 MW solar park in Atharga, Karnataka. Fourth Partner will use the Norfund investment to support its off-site solar and wind projects for this fiscal year, under development in Tamil Nadu, Karnataka, Maharashtra, and Uttar Pradesh.
Luminous Energy, a solar and energy storage project developer, <a href="https://mercomcapital.com/luminous-energy-secures-financial-closure-for-solar-project/" target="_blank" rel="noopener">closed</a> financing on the 28.5 MW Bracon Ash UK Solar Farm. The project is expected to start generating power in the summer of 2024 and generate enough electricity to power more than 9,500 households annually. The firm announced Novuna Business Finance as the funding partner supporting the project. The transaction details were not disclosed for the deal.
ID Energy Group, a vertically integrated Spain-based renewable energy company, <a href="https://mercomcapital.com/id-energy-group-secures-debt-financing-solar-wind-projects/" target="_blank" rel="noopener">secured</a> a development debt facility to support its pipeline of late-stage solar PV and onshore wind projects in Europe. The facility was entirely subscribed by a newly established European debt fund, further solidifying its position as a strategic partner of the group. The project pipeline comprises 67 individual projects, varying in size from 1 MW to 150 MW.
Greenbacker Capital Management, a renewable energy asset manager, through an affiliated investment vehicle, <a href="https://greenbackercapital.com/2023/08/greenbacker-partners-with-rbc-community-investments-to-complete-one-of-clean-energy-industrys-first-solar-ptc-deals/" target="_blank" rel="noopener">completed</a> a $148 million tax equity financing commitment with RBC Community Investments. The commitment is one of the very first tax equity deals to utilize the solar production tax credit (“PTC”), which will be used to finance a 240 MW of Appaloosa solar project in Utah.
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://www.mercomindia.com/project-finance-brief-broad-reach-secures-bess-projects" target="_blank" rel="noopener">brief</a>.

By: Raj Prabhu
<a href="https://www.idenergy.group/" target="_blank" rel="noopener">ID Energy Group</a>, a vertically integrated Spain-based renewable energy company, secured a development debt facility to support its pipeline of late-stage solar PV and onshore wind projects in Europe. The facility was entirely subscribed by a newly established European debt fund, further solidifying its position as a strategic partner of the group.
The project pipeline comprises 67 individual projects, varying in size from 1 MW to 150 MW. Among these, Spain accounts for 700 MW, with 500 MW dedicated to onshore wind projects. Poland accounts for a solar PV capacity of 600 MW, whereas Hungary and Italy lag with 250 MW and 150 MW, respectively.
&#8220;We are thrilled to collaborate with partners who understand the significance of accelerating the transition to renewable energy in Europe. This financing facility will be a catalyst in our next growth phase, enabling us to significantly scale our pipeline,&#8221; said Julio Espadas, Cofounder, Shareholder and CFO of ID Energy Group.
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>, announced large-scale project funding in Q2 2023 came to $9.5 billion in 51 deals, a 79% increase QoQ compared to $5.3 billion raised in 62 deals in Q1 2023.
Luminous Energy, a solar and energy storage project developer, <a href="https://cms.mercomindia.com/luminous-energy-secures-financial-closure-for-solar-project/" target="_blank" rel="noopener">recently</a> closed financing on the 28.5 MW Bracon Ash UK Solar Farm. The project is expected to start generating power in the summer of 2024 and generate enough electricity to power more than 9,500 households annually.

ID Energy Group Secures Development Debt Financing for Solar and Wind Projects in Europe

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