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POWERGRID Tenders 500 MW/1,000 MWh Battery Energy Storage Projects

Zenobē, a U.K.-based owner and operator of grid-scale battery storage, has <a href="https://cms.mercomindia.com/zenobe-acquires-400-mw-battery-energy-storage-project/" target="_blank" rel="noopener">announced</a> the acquisition of a 400 MW ready-to-build battery energy storage system in Low Harker, Cumbria, from Innova, a U.K.-based renewable energy project developer. Innova received planning consent on the project in October 2023 and has been developing the Harker site since 2022. The storage project is scheduled for connection in 2028.
Helexia, a solar project developer and a subsidiary of Voltalia, <a href="https://cms.mercomindia.com/helexia-secures-58-million-financing-for-solar-projects/" target="_blank" rel="noopener">raised</a> a second incremental tranche of its financing program, amounting to €50 million (~$58 million), to support the development of its solar project portfolio across Europe. The financing will strengthen Helexia’s resources to integrate 240 new rooftop and carport solar installations into operation across five European countries, including Belgium, France, Italy, Portugal, and Spain.
Verano Energy, a utility-scale solar and green hydrogen project developer, has <a href="https://cms.mercomindia.com/verano-energy-secures-204-million-project-financing/" target="_blank" rel="noopener">secured</a> a $204 million project finance facility for its Domeyko hybrid project, which includes an 83 MW solar with 660 MWh of battery energy storage system. The under-construction project is  located in northern Chile near Vallenar in the Atacama region. The project is scheduled for commercial operation by the end of 2026.
Statkraft, a Norway-based renewable energy company, has <a href="https://cms.mercomindia.com/statkraft-sells-120-mw-solar-project-portfolio/" target="_blank" rel="noopener">sold</a> a 120 MWp operational solar project portfolio to the Dutch renewable energy supplier Greenchoice. In the Netherlands, a share purchase agreement has been signed with Greenchoice for the acquisition of 120 MWp of operational solar assets, along with a development portfolio of solar, wind, and battery projects, and the integration of a team of experienced professionals. The transaction is expected to close in the autumn this year. The financial details of the transaction remained undisclosed.
Meridian Energy, a New Zealand-based power company, and Nova Energy, a Wellington-based energy company, <a href="https://cms.mercomindia.com/meridian-and-nova-secure-177-million-for-solar-project/" target="_blank" rel="noopener">secured</a> NZ$300 million (~$177 million) in project financing for the first 200 MW phase of the Te Rahui solar project located at Rangitāiki near Taupō, New Zealand. The project offtake will be shared 50-50 under a power purchase agreement with Meridian for 100% of the offtake and a contract for difference with Nova for 50%.
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-enviromena-acquires-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Zenobē Acquires 400 MW Battery Energy Storage Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-zenobe-acquires-energy-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Zenobē, a U.K.-based owner and operator of grid-scale battery storage, has <a href="https://mercomcapital.com/zenobe-acquires-400-mw-battery-energy-storage-project/" target="_blank" rel="noopener">announced</a> the acquisition of a 400 MW ready-to-build battery energy storage system in Low Harker, Cumbria, from Innova, a U.K.-based renewable energy project developer. Innova received planning consent on the project in October 2023 and has been developing the Harker site since 2022. The storage project is scheduled for connection in 2028.
Helexia, a solar project developer and a subsidiary of Voltalia, <a href="https://mercomcapital.com/helexia-secures-58-million-financing-for-solar-projects/" target="_blank" rel="noopener">raised</a> a second incremental tranche of its financing program, amounting to €50 million (~$58 million), to support the development of its solar project portfolio across Europe. The financing will strengthen Helexia’s resources to integrate 240 new rooftop and carport solar installations into operation across five European countries, including Belgium, France, Italy, Portugal, and Spain.
Verano Energy, a utility-scale solar and green hydrogen project developer, has <a href="https://mercomcapital.com/verano-energy-secures-204-million-project-financing/" target="_blank" rel="noopener">secured</a> a $204 million project finance facility for its Domeyko hybrid project, which includes an 83 MW solar with 660 MWh of battery energy storage system. The under-construction project is  located in northern Chile near Vallenar in the Atacama region. The project is scheduled for commercial operation by the end of 2026.
Statkraft, a Norway-based renewable energy company, has <a href="https://mercomcapital.com/statkraft-sells-120-mw-solar-project-portfolio/" target="_blank" rel="noopener">sold</a> a 120 MWp operational solar project portfolio to the Dutch renewable energy supplier Greenchoice. In the Netherlands, a share purchase agreement has been signed with Greenchoice for the acquisition of 120 MWp of operational solar assets, along with a development portfolio of solar, wind, and battery projects, and the integration of a team of experienced professionals. The transaction is expected to close in the autumn this year. The financial details of the transaction remained undisclosed.
Meridian Energy, a New Zealand-based power company, and Nova Energy, a Wellington-based energy company, <a href="https://mercomcapital.com/meridian-and-nova-secure-177-million-for-solar-project/" target="_blank" rel="noopener">secured</a> NZ$300 million (~$177 million) in project financing for the first 200 MW phase of the Te Rahui solar project located at Rangitāiki near Taupō, New Zealand. The project offtake will be shared 50-50 under a power purchase agreement with Meridian for 100% of the offtake and a contract for difference with Nova for 50%.
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-enviromena-acquires-project/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.meridianenergy.co.nz/" target="_blank" rel="noopener">Meridian Energy</a>, a New Zealand-based power company, and <a href="https://todd.co.nz/">Nova Energy</a>, a Wellington-based energy company, secured NZ$300 million (~$177 million) in project financing for the first 200 MW phase of the Te Rahui solar project located at Rangitāiki near Taupō, New Zealand.
In addition, Meridian and Nova announced the completion of agreements to establish a 50-50 joint venture to build and operate the Te Rahui solar project, totaling 400 MW capacity.
The project offtake will be shared 50-50 under a power purchase agreement with Meridian for 100% of the offtake and a contract for difference with Nova for 50%.
In April 2024, Nova received resource consent for the project. Phase one is expected to begin delivering power by mid-2026, with full operations expected by mid-2027. Beon Energy, a renewable energy company, is responsible for the construction, initial operations, and maintenance of the project.
&#8220;We are doing our share of the heavy lifting to secure New Zealand&#8217;s energy future. Having invested more than $1 billion in the past five years, we have a further $2 billion planned for investment over the next three years. These projects will add over 1,000MW of new capacity, a five percent increase to the electricity system,&#8221; says Meridian Chief Executive Mike Roan.
Meridian Energy secured consent on four other projects in the past 12 months. Also, construction on the Ruakākā Solar project is underway, and the Mount Munro wind project has progressed to detailed design.
According to Mercom&#8217;s 1H and Q2 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2025-solar-funding-ma-report/">report</a>, large-scale project funding increased by 65% in the first half of 2025 compared to the same period in 2024.
In August, Green Genius, a renewable energy company, <a href="https://cms.mercomindia.com/green-genius-secures-75-million-for-182-mw-solar-projects/">entered</a> into financing agreements for up to €64 million (~$75 million) with the Nordic Investment Bank (NIB) and NORD/LB. The funding will be used for the development of two solar projects totaling 182 MWp in Lithuania.

Meridian and Nova Secure $177 Million for Solar Project in New Zealand

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