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TotalEnergies, a diversified multinational energy company, <a href="https://cms.mercomindia.com/totalenergies-sells-50-of-2-gw-solar-and-storage-portfolio-in-texas/" target="_blank" rel="noopener">announced</a> the sale of 50% of a portfolio of 2 GW solar and battery energy storage projects in Texas to Apollo, a New York-based asset management firm. The transaction will provide the company $800 million in cash, with $550 million in equity and $250 million in shareholder loan refinancing. The portfolio consists of three solar projects with a total capacity of 1.7 GW and two battery storage projects with a total capacity of 300 MW.
Neoen, an independent renewable energy power producer, announced the <a href="https://cms.mercomindia.com/neoen-sells-renewable-energy-portfolio-to-hmc-capital-in-australia/" target="_blank" rel="noopener">sale</a> of its renewable energy portfolio consisting of operating projects and development pipelines in Victoria, Australia, to HMC Capital, an alternative asset manager. The transaction amounts to AUD950 million (~$611.62 million) in enterprise value.
Granite Source Power, a renewable energy project developer, and its partner, New Energy Capital, an alternative asset manager, <a href="https://cms.mercomindia.com/granite-source-power-finalizes-sale-of-1-25-gw-energy-storage-projects/" target="_blank" rel="noopener">announced</a> the sale of 1,250 MW of standalone battery energy storage projects across ERCOT, SPP, and ISONE. The financial details of the transaction remained undisclosed. The projects have scheduled commercial operation dates ranging from 2025 to 2027. Each project was sold individually through separate purchase and sale agreements with various buyers.
Matrix Renewables, a global renewable energy company, <a href="https://cms.mercomindia.com/matrix-renewables-secures-financing-for-210-mw-stillhouse-solar-project/" target="_blank" rel="noopener">secured</a> $376 million in financing for developing the 210 MWac Stillhouse solar project. Acadia Infrastructure provided preferred equity and separately facilitated Microsoft’s purchase of environmental attribute certificates. Additionally, MUFG, HSBC, ING, and BBVA provided $376 million in debt funding. The Stillhouse solar project, located in Bell County, Texas, includes a 15-year power purchase agreement with affiliates of Hyundai.
Mulilo, a South Africa-based renewable energy developer and independent power producer, <a href="https://cms.mercomindia.com/mulilo-secures-financing-for-75-mw-ukuqala-solar-project/" target="_blank" rel="noopener">secured</a> financial closure for the 75 MWac (105 MWdc) Ukuqala solar project near De Aar in the Northern Cape, South Africa. Nedbank, SBSA, and ABSA provided the debt financing. In addition, Peppertree Capital, ENS, ABL, Bowmans, and Arup were involved in the transaction as advisors in various capacities. Financial details of the deal remained undisclosed.
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-cee-group-solar-project-germany/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: TotalEnergies Sells 50% of 2 GW Solar-Storage Portfolio in Texas

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-totalenergies-sells-50-of-2-gw-solar-storage-portfolio-in-texas/" target="_blank" rel="noopener">Mercom Capital Group</a>
TotalEnergies, a diversified multinational energy company, <a href="https://mercomcapital.com/totalenergies-sells-50-of-2-gw-solar-and-storage-portfolio-in-texas/" target="_blank" rel="noopener">announced</a> the sale of 50% of a portfolio of 2 GW solar and battery energy storage projects in Texas to Apollo, a New York-based asset management firm. The transaction will provide the company $800 million in cash, with $550 million in equity and $250 million in shareholder loan refinancing. The portfolio consists of three solar projects with a total capacity of 1.7 GW and two battery storage projects with a total capacity of 300 MW.
Neoen, an independent renewable energy power producer, announced the <a href="https://mercomcapital.com/neoen-sells-renewable-energy-portfolio-to-hmc-capital-in-australia/" target="_blank" rel="noopener">sale</a> of its renewable energy portfolio consisting of operating projects and development pipelines in Victoria, Australia, to HMC Capital, an alternative asset manager. The transaction amounts to AUD950 million (~$611.62 million) in enterprise value.
Granite Source Power, a renewable energy project developer, and its partner, New Energy Capital, an alternative asset manager, <a href="https://mercomcapital.com/granite-source-power-finalizes-sale-of-1-25-gw-energy-storage-projects/" target="_blank" rel="noopener">announced</a> the sale of 1,250 MW of standalone battery energy storage projects across ERCOT, SPP, and ISONE. The financial details of the transaction remained undisclosed. The projects have scheduled commercial operation dates ranging from 2025 to 2027. Each project was sold individually through separate purchase and sale agreements with various buyers.
Matrix Renewables, a global renewable energy company, <a href="https://mercomcapital.com/matrix-renewables-secures-financing-for-210-mw-stillhouse-solar-project/" target="_blank" rel="noopener">secured</a> $376 million in financing for developing the 210 MWac Stillhouse solar project. Acadia Infrastructure provided preferred equity and separately facilitated Microsoft’s purchase of environmental attribute certificates. Additionally, MUFG, HSBC, ING, and BBVA provided $376 million in debt funding. The Stillhouse solar project, located in Bell County, Texas, includes a 15-year power purchase agreement with affiliates of Hyundai.
Mulilo, a South Africa-based renewable energy developer and independent power producer, <a href="https://mercomcapital.com/mulilo-secures-financing-for-75-mw-ukuqala-solar-project/" target="_blank" rel="noopener">secured</a> financial closure for the 75 MWac (105 MWdc) Ukuqala solar project near De Aar in the Northern Cape, South Africa. Nedbank, SBSA, and ABSA provided the debt financing. In addition, Peppertree Capital, ENS, ABL, Bowmans, and Arup were involved in the transaction as advisors in various capacities. Financial details of the deal remained undisclosed.
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&#8217;s project finance <a href="https://www.mercomindia.com/project-finance-brief-cee-group-solar-project-germany">brief</a>.

<a href="https://www.mulilo.com/about-us/" target="_blank" rel="noopener">Mulilo</a>, a South Africa-based renewable energy developer and independent power producer, secured financial closure for the 75 MWac (105 MWdc) Ukuqala solar project near De Aar in the Northern Cape, South Africa. Nedbank, SBSA, and ABSA provided the debt financing.
In addition, Peppertree Capital, ENS, ABL, Bowmans, and Arup were involved in the transaction as advisors in various capacities. Financial details of the deal remained undisclosed.
The company will manage construction and deliver project asset management, operations, and maintenance services.
The Ukuqala Solar Project will power Air Product’s Air Separation Units across South Africa, delivering electricity via wheeling to various locations. This project is the sixth for which the company reached a financial close in 2024.
The solar project is among the four Mulilo projects connected to the Kestral Main Transmission Substation, which is currently under construction.
Once operational, the project is expected to supply approximately 248 GWh of clean power annually per Mulilo.
Mulilo CEO Jan Fourie said, “Ukuqala Solar is the sixth project closed by our team this year and our first project as lead developer. It demonstrates our ability to develop bespoke projects for the private sector and deliver on our integrated business model.”
According to Mercom’s 9M and Q3 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-and-q3-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding in  9M 2024 totaled $34.3 billion in 180 deals, up from $27.5 billion in 169 deals in 9M 2023.
In October, Mainstream Renewable Power, a solar and wind project developer, announced the financial <a href="https://cms.mercomindia.com/mainstream-secures-financing-for-50-mw-solar-project-in-south-africa/" target="_blank" rel="noopener">closure</a> of its 50 MW Ilikwa solar project in the Free State province of South Africa. The financial details of the transaction remained undisclosed.

Mulilo Secures Financing for 75 MW Ukuqala Solar Project

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