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<a href="https://www.metlen.com/" target="_blank" rel="noopener">METLEN Energy &amp; Metals</a> (formerly MYTILINEOS), a Greek industrial conglomerate, has secured €16.6 million (~$19.9 million) in project financing to support the development of the 20.75 MW Bicinicco solar project in the Friuli Venezia Giulia region of northern Italy.
The financing was secured through Piraeus Bank. BonelliErede served as METLEN’s legal advisor, while Dentons acted as the lender’s legal counsel. Vector Renewables served as the technical advisor, Marsh as the insurance advisor, KPMG as the model auditor, and MBS Consulting as the market advisor on the transaction.
The project is scheduled for completion in 2026 and is expected to generate approximately 30 GWh of clean electricity annually once operational.
This transaction marks a key step in METLEN’s expansion in Italy. It supports the company’s strategy to roll out more than 1.5 GW of solar capacity and around 0.3 GW of battery energy storage systems.
In December 2025, the company completed the <a href="https://cms.mercomindia.com/metlen-sells-solar-projects-with-co-located-bess-in-chile/" target="_blank" rel="noopener">sale</a> of its portfolio of four operational solar projects in Chile, totaling 588 MW, supported by co-located battery energy storage systems with a capacity of 1,610 MWh. The company also <a href="https://cms.mercomindia.com/metlen-sells-42-mw-solar-project-portfolio-in-south-korea/" target="_blank" rel="noopener">entered</a> into an agreement under which Korean energy investment and development company HRE will acquire a diversified portfolio of solar projects in South Korea totaling 42 MW.
METLEN Energy &amp; Metals also <a href="https://cms.mercomindia.com/metlen-secures-71-million-financing-for-solar-portfolio-in-italy/" target="_blank" rel="noopener">secured</a> €67.9 million (~$71.22 million) in financing in January 2025 to support the construction and development of a solar project portfolio totaling 71.5 MW in Italy. The financing was secured through Piraeus.
According to Mercom’s Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding increased 37% in 2025 compared to 2024.
Earlier, in January 2026, Low Carbon, a renewable energy project developer, <a href="https://cms.mercomindia.com/low-carbon-closes-over-684-million-in-debt-financing/" target="_blank" rel="noopener">raised</a> more than £500 million (~$684 million) in senior and Holdco financing, in partnership with 10 major international banks. The platform&#8217;s financing structure enables the inclusion of new projects as the company expands its renewable energy portfolio across Europe.

METLEN Closes Over $19 Million Financing for Bicinicco Solar Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-octopus-renewables-solar-wind-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
Octopus Renewables Infrastructure Trust, the diversified renewables infrastructure company, announced the signing of agreements to <a href="https://mercomcapital.com/octopus-renewables-to-sell-stakes-in-solar-and-wind-projects/" target="_blank" rel="noopener">sell</a> a 49% stake in its full ownership of the 67 MW Breach solar project in Cambridgeshire, and to dispose of a 51% stake in the 46 MW Crossdykes onshore wind project in Scotland. Tokyo Century Corporation is acquiring the 49% stake in Breach and the 49% stake in Crossdykes. The remaining 2% in Crossdykes is being sold to the Octopus Energy Generation-managed Octopus Renewables Infrastructure SCSp fund, at the same valuation, which already owns 49% of the project.
Technique Solaire Group, a France-based independent renewable energy power, <a href="https://mercomcapital.com/technique-solaire-secures-47-million-debt-financing/" target="_blank" rel="noopener">closed</a> a €40 million ($47.12 million) junior debt financing with BNP Paribas Asset Management to support the growth of the company’s solar projects located in France and internationally. The financing will facilitate the continuation of construction for two project portfolios comprising 626 solar projects totaling 392 MWp capacity. This includes rooftop solar projects in France, ground-mounted projects in Spain and the Netherlands, and the Drakenrijk floating project in the Netherlands.
METLEN Energy &amp; Metals (previously known as MYTILINEOS), a Greek industrial conglomerate, <a href="https://mercomcapital.com/metlen-sells-solar-projects-with-co-located-bess-in-chile/" target="_blank" rel="noopener">announced</a> the completion of the sale of its portfolio of four operational solar projects in Chile totaling 588 MW supported by co-located battery energy storage systems with a capacity of 1,610 MWh. The transaction with GAC RS Chile II, a subsidiary of Glenfarne, signed in April 2025, is a part of METLEN’s global Asset Rotation Plan. With the fulfilment of certain conditions, the deal amounts to a total consideration of $865 million.
BOOM Power, a developer of solar and battery storage projects, <a href="https://mercomcapital.com/boom-power-sells-solar-projects-to-downing/" target="_blank" rel="noopener">completed</a> the sale of the 22 MW New Hall solar project and its remaining minority stake in the Low Farm solar project in the U.K. to Downing, an investment manager. The New Hall solar is a consented project developed by BOOM Power from early-stage site identification through to planning consent. PKF acted as financial and corporate advisors to BOOM Power on both projects. The transactions for both projects were completed on 22 December 2025.
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-grenergy-financing-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Octopus Renewables to Sell Stakes in Solar and Wind Projects

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-energy-vault-battery-storage-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Energy Vault, a utility-scale energy storage project developer, <a href="https://mercomcapital.com/energy-vault-acquires-150-mw-battery-storage-project/" target="_blank" rel="noopener">announced</a> the acquisition and planned development of the SOSA Energy Center, a 150 MW/300 MWh battery energy storage system located in Madison County, Texas. The project, located in the ERCOT North market, is expected to receive notice to proceed in the fourth quarter of 2025, with commercial operation scheduled for the first quarter of 2027. Construction is expected to begin in Q4 2025.
Recurrent Energy, a solar and energy storage project developer and wholly owned subsidiary of Canadian Solar, <a href="https://mercomcapital.com/recurrent-energy-secures-825-million-for-arizona-energy-projects/" target="_blank" rel="noopener">secured</a> $825 million in construction financing and tax equity for its Desert Bloom storage and Papago Solar projects. NORD/LB, Mitsubishi UFJ Financial Group, CoBank, and Siemens Financial Services provided construction financing, and Wells Fargo provided the tax equity.
Ampliform, a Pennsylvania-based utility-scale solar and storage project developer, <a href="https://mercomcapital.com/ampliform-closes-165-million-loan-to-advance-project-pipeline/" target="_blank" rel="noopener">secured</a> a loan facility of up to $165 million with Copenhagen Infrastructure Partners, through its Green Credit Fund I. The proceeds of the financing will support the advancement of the company’s project pipeline across various U.S. regional electrical grids, with a focus on development and construction of its near-term portfolio in PJM, the grid operator serving 13 states and Washington, D.C.
Renewable energy solutions providers, Radiance Renewables and Sunsure Energy, have <a href="https://www.mercomindia.com/radiance-and-sunsure-secure-%E2%82%B96-8-billion-funding-from-niif-ifl" target="_blank" rel="noopener">received</a> cumulative funding of ₹6.8 billion (~$77.47 million) from NIIF Infrastructure Finance (NIIF IFL). Mumbai-based Radiance Renewables and Gurugram-based Sunsure Energy have received funding of ₹5.5 billion (~$62.6 million) and ₹1.3 billion (~$14.8 million), respectively, from NIIF IFL. Radiance will utilize the funding to support renewable energy projects for commercial and industrial businesses across Karnataka, Maharashtra, and Uttar Pradesh, and to retire its existing debt facilities.
European Energy, a renewable energy project developer, has <a href="https://mercomcapital.com/european-energy-sells-50-stake-in-111-mw-project/" target="_blank" rel="noopener">agreed</a> to sell a 50% stake in its 111 MW Saldus solar and battery project in Latvia to Sampension, a Danish pension fund organization. The Saldus project comprises a 65 MW solar project with a 46 MW battery energy storage system. The project construction began in July 2025 and is expected to be completed in May 2026.
METLEN Energy &amp; Metals, a global industrial and energy company, and Korean energy investment and development company HRE, <a href="https://mercomcapital.com/metlen-sells-42-mw-solar-project-portfolio-in-south-korea/" target="_blank" rel="noopener">entered</a> into an agreement under which HRE will acquire a diversified portfolio of solar projects in South Korea totaling 42 MW. The portfolio comprises five operational and under-development solar projects that, together, will produce over 60 GWh of clean electricity each year, sufficient to power more than 12,000 Korean households.
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-lightsource-bp-financing-solar-project-2/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Energy Vault Acquires 150 MW Battery Storage Project

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