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Solar Module Capacity Under ALMM Grows to 215.5 GW

<a href="https://octopusinvestments.com.au/" target="_blank" rel="noopener">Octopus Australia</a>, a renewable energy project developer and fund manager, acquired two new development projects in Australia, including the Hanworth battery energy storage system in New South Wales and the Dunmore solar and battery project in Queensland.
Once fully operational, the 1.2 GW/4.8 GWh Hanworth project, located near Bannaby, west of Bowral, will be capable of storing and delivering enough electricity to power over half a million households during the evening peak. Dunmore, on the other hand, includes a 300 MW solar photovoltaic with a 150 MW/300 MWh battery system.
The company acquired the Hanworth project from the Australian energy developer Enervest, connecting into Transgrid’s Bannaby Terminal Station. Whereas the Dunmore project, located near Toowoomba, was acquired from Samsung C&amp;T Renewable Energy Australia.
Enervest CEO Ross Warby said the sale of the Hanworth Battery Project marked an important milestone for the project. “This transaction with Octopus Australia represents a landmark outcome for Enervest, reflecting both the strength of our development portfolio and the significant investment and work completed to date. Partnering with a reputable, long-term partner like Octopus enables us to realise value from Hanworth while sharpening our focus on Enervest’s own-and-operate strategy. We believe Octopus is well-placed to accelerate this asset to meet growing demand, and we look forward to seeing the benefits it will bring to the local community, the grid, and the broader energy transition.”
Previously, in 2025, Octopus Australia reached financial closure on its projects, including the 300 MW Blind Creek solar with a co-located 243 MW/486 MWh battery project, <a href="https://cms.mercomindia.com/octopus-australia-secures-financing-300-mw-solar-storage-project/" target="_blank" rel="noopener">securing</a> A$900 million (~$588 million) financing, and <a href="https://cms.mercomindia.com/octopus-australia-secures-financing-for-80-mw-fulham-solar-and-storage-project/" target="_blank" rel="noopener">raising</a> over AUD 300 million (~$180.5 million) for its 80 MW Fulham solar with a co-located 128 MWh battery storage project.
According to Mercom’s Annual and Q4 2025 Funding and M&amp;A Report for Energy Storage <a href="https://cms.mercomindia.com/product/annual-q4-2025-funding-ma-report-storage/" target="_blank" rel="noopener">report</a>, there were 65 energy storage project M&amp;A transactions in 2025 compared to 38 transactions in the same period of 2024.

Octopus Australia Acquires 1.35 GW Battery Storage Projects

rPlus Energies, a U.S.-based renewable energy developer, <a href="https://mercomcapital.com/rplus-energies-acquires-900-mw-of-solar-and-storage-projects/" target="_blank" rel="noopener">announced</a> the acquisition of two solar and storage projects in Ada County, Idaho. The projects, Blacks Creek Energy Center and Bluebird Solar, together represent a combined 900 MW of solar and storage capacity. The Blacks Creek Energy Center project was acquired from Qcells, a utility-scale solar and energy storage project developer and provider of solar engineering, procurement, and construction services. The Bluebird solar project was acquired from Mission Clean Energy, a utility-scale renewable energy and storage developer.
European Energy, a renewable energy project developer, <a href="https://mercomcapital.com/european-energy-secures-44m-financing-for-hybrid-solar-storage-project/" target="_blank" rel="noopener">secured</a> €37.9 million (~$43.89 million) long-term project financing for the development of a hybrid solar and energy storage project in the municipality of Saldus, Latvia. The solar project is also co-owned by European Energy and Sampension. The project consists of a 65 MW solar and a 92 MWh battery energy storage system across approximately 96 hectares.
Aukera, a Europe-based renewable energy developer and independent power producer, <a href="https://mercomcapital.com/aukera-secures-70m-financing-250-mw-500-mwh-storage-project/" target="_blank" rel="noopener">secured</a> a €60 million (~$70 million) debt facility from Kommunalkredit Austria for the development and construction of its stand-alone battery energy storage project in Romania. The 250 MW/500 MWh battery storage project, located in Gura Ialomitei, Ialomita County, is planned for delivery in two phases. Phase 1 is currently under construction, and the whole project is expected to reach commercial operation by mid-2026.
Octopus Australia, an energy fund manager and developer, <a href="https://mercomcapital.com/octopus-australia-secures-financing-300-mw-solar-storage-project/" target="_blank" rel="noopener">secured</a> A$900 million (~$588 million) in financial closure for its Blind Creek Solar Farm and Battery project, located in Bungendore, New South Wales, Australia. The project consists of 300 MW of solar energy, along with a 243 MW/486 MWh battery. It is backed by Octopus Australia funds, which include funding from Hostplus, Rest Super, the Clean Energy Finance Corporation, Westpac Private Bank, and infrastructure company APG.
Enlight Renewable Energy, a renewable energy independent power producer and developer, <a href="https://mercomcapital.com/enlight-secures-1-44b-debt-financing-for-snowflake-a-project/" target="_blank" rel="noopener">announced</a> that its U.S. subsidiary Clēnera Holdings entered into a debt financing agreement for its Snowflake A project located near Holbrook, Arizona. The Snowflake A project combines 600 MW of solar with 1,900 MWh of energy storage. The project is expected to achieve commercial operations by the second half of 2027. Once operational, it will produce enough energy to power nearly 110,000 homes in Arizona.
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://mercomcapital.com/project-finance-brief-boom-power-sells-solar-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: rPlus Acquires 900 MW of Solar and Storage Projects

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-rplus-acquires-solar-storage-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
rPlus Energies, a U.S.-based renewable energy developer, <a href="https://mercomcapital.com/rplus-energies-acquires-900-mw-of-solar-and-storage-projects/" target="_blank" rel="noopener">announced</a> the acquisition of two solar and storage projects in Ada County, Idaho. The projects, Blacks Creek Energy Center and Bluebird Solar, together represent a combined 900 MW of solar and storage capacity. The Blacks Creek Energy Center project was acquired from Qcells, a utility-scale solar and energy storage project developer and provider of solar engineering, procurement, and construction services. The Bluebird solar project was acquired from Mission Clean Energy, a utility-scale renewable energy and storage developer.
European Energy, a renewable energy project developer, <a href="https://mercomcapital.com/european-energy-secures-44m-financing-for-hybrid-solar-storage-project/" target="_blank" rel="noopener">secured</a> €37.9 million (~$43.89 million) long-term project financing for the development of a hybrid solar and energy storage project in the municipality of Saldus, Latvia. The solar project is also co-owned by European Energy and Sampension. The project consists of a 65 MW solar and a 92 MWh battery energy storage system across approximately 96 hectares.
Aukera, a Europe-based renewable energy developer and independent power producer, <a href="https://mercomcapital.com/aukera-secures-70m-financing-250-mw-500-mwh-storage-project/" target="_blank" rel="noopener">secured</a> a €60 million (~$70 million) debt facility from Kommunalkredit Austria for the development and construction of its stand-alone battery energy storage project in Romania. The 250 MW/500 MWh battery storage project, located in Gura Ialomitei, Ialomita County, is planned for delivery in two phases. Phase 1 is currently under construction, and the whole project is expected to reach commercial operation by mid-2026.
Octopus Australia, an energy fund manager and developer, <a href="https://mercomcapital.com/octopus-australia-secures-financing-300-mw-solar-storage-project/" target="_blank" rel="noopener">secured</a> A$900 million (~$588 million) in financial closure for its Blind Creek Solar Farm and Battery project, located in Bungendore, New South Wales, Australia. The project consists of 300 MW of solar energy, along with a 243 MW/486 MWh battery. It is backed by Octopus Australia funds, which include funding from Hostplus, Rest Super, the Clean Energy Finance Corporation, Westpac Private Bank, and infrastructure company APG.
Enlight Renewable Energy, a renewable energy independent power producer and developer, <a href="https://mercomcapital.com/enlight-secures-1-44b-debt-financing-for-snowflake-a-project/" target="_blank" rel="noopener">announced</a> that its U.S. subsidiary Clēnera Holdings entered into a debt financing agreement for its Snowflake A project located near Holbrook, Arizona. The Snowflake A project combines 600 MW of solar with 1,900 MWh of energy storage. The project is expected to achieve commercial operations by the second half of 2027. Once operational, it will produce enough energy to power nearly 110,000 homes in Arizona.
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-boom-power-sells-solar-projects/" target="_blank" rel="noopener">brief</a>.

<a href="https://octopusinvestments.com.au/" target="_blank" rel="noopener">Octopus Australia</a>, an energy fund manager and developer, secured A$900 million (~$588 million) in financial closure for its Blind Creek Solar Farm and Battery project, located in Bungendore, New South Wales, Australia. The project consists of 300 MW of solar energy, along with a 243 MW/486 MWh battery.
The project is backed by Octopus Australia funds, which include funding from Hostplus, Rest Super, the Clean Energy Finance Corporation (CEFC), Westpac Private Bank, and infrastructure leader APG.
Developed in close partnership with local landholders, it will operate as a true agri-solar model, specifically designed to enable sheep grazing to continue across the site while enhancing land productivity with solar infrastructure.
Once operational, the project is expected to generate enough electricity to power more than 120,000 homes and deliver emissions reductions equivalent to removing 200,000 cars from the road each year.
To deliver the DC-coupled solar hybrid project, Octopus Australia is maintaining its collaboration with GRS as the EPC contractor and Wärtsilä as the BESS provider.
&#8220;Reaching financial close on Blind Creek marks a major milestone for Octopus Australia and our commitment to accelerating the clean energy transition. This achievement demonstrates the strength of our strategy to deliver renewable energy projects that provide long-term value for communities and investors alike.&#8221; Octopus Australia Co-Managing Director of Renewables, Sonia Teitel, said.
In April, the company reached financial <a href="https://cms.mercomindia.com/octopus-australia-secures-financing-for-80-mw-fulham-solar-and-storage-project/" target="_blank" rel="noopener">close</a> on the 80 MW Fulham Solar Project and its co-located 128 MWh battery energy storage system, with a total value exceeding A$300 million (~$180.5 million).
According to Mercom&#8217;s 9M and Q3 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2025-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding increased by 43% in the first nine months of 2025 compared with the same period in 2024.
In November, European Energy, a renewable energy project developer, <a href="https://cms.mercomindia.com/european-energy-secures-44m-financing-for-hybrid-solar-storage-project/" target="_blank" rel="noopener">secured</a> €37.9 million (~$43.89 million) long-term project financing for the development of a hybrid solar and energy storage project in the municipality of Saldus, Latvia.

Octopus Australia Secures Financing for 300 MW Solar and Storage Project

Octopus Australia, a renewable energy project developer and fund manager, has <a href="https://cms.mercomindia.com/octopus-australia-secures-financing-for-80-mw-fulham-solar-and-storage-project/" target="_blank" rel="noopener">reached</a> financial close on the 80 MW Fulham Solar Project and its co-located 128 MWh battery energy storage system, with a total value exceeding AUD300 million (~$180.5 million). The company announced that construction of the project is now underway. A power purchase agreement from the Victorian State Government backs the project.
Apex Clean Energy, a renewable energy project developer, <a href="https://cms.mercomindia.com/apex-clean-energy-sells-49-stakes-in-solar-and-wind-project/" target="_blank" rel="noopener">entered</a> into an agreement with Electricity Generating Public Company to sell its 49% ownership interest in the Pinnacle II project portfolio, which consists of two projects totaling 251 MW in the U.S. Apex will retain the remaining shares and manage the portfolio operations. The portfolio comprises the 125 MWac Wheatsborough solar project in Ohio and the 126 MW Downeast wind project in Maine.
JUWI Energie Rinnovabili, the Italian subsidiary of international project developer JUWI Group, <a href="https://cms.mercomindia.com/juwi-energie-rinnovabili-sells-50-5-mw-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the sale of a 50.5 MW solar project portfolio to Kelag Italia, a subsidiary of Kelag Group, an Austrian renewable energy provider. The portfolio comprises eight authorized and ready-to-build solar projects located in Northern Italy. The company did not disclose the financial details of the transaction.
Sunraycer Renewables, a developer, owner, and operator of clean energy power sites, <a href="https://cms.mercomindia.com/sunraycer-secures-475-million-financing-for-solar-plus-storage-projects/" target="_blank" rel="noopener">secured</a> a $475 million project financing facility from MUFG Bank, Nomura Securities International, and Norddeutsche Landesbank Girzonentrale for the development and construction of Gaia and Midpoint solar and battery energy storage projects in Texas. The two projects include the 143 MWac Gaia solar project with a 75 MWac battery storage system in Navarro County and the 97.5 MWac Midpoint solar project coupled with a 50 MWac battery energy storage system in Hill County.
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-potentia-energy-acquires-renewable-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Octopus Secures Financing for 80 MW Solar and Storage Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-octopus-financing-solar-storage/" target="_blank" rel="noopener">Mercom Capital Group</a>
Octopus Australia, a renewable energy project developer and fund manager, has <a href="https://mercomcapital.com/octopus-australia-secures-financing-for-80-mw-fulham-solar-and-storage-project/" target="_blank" rel="noopener">reached</a> financial close on the 80 MW Fulham Solar Project and its co-located 128 MWh battery energy storage system, with a total value exceeding AUD300 million (~$180.5 million). The company announced that construction of the project is now underway. A power purchase agreement from the Victorian State Government backs the project.
Apex Clean Energy, a renewable energy project developer, <a href="https://mercomcapital.com/apex-clean-energy-sells-49-stakes-in-solar-and-wind-project/" target="_blank" rel="noopener">entered</a> into an agreement with Electricity Generating Public Company to sell its 49% ownership interest in the Pinnacle II project portfolio, which consists of two projects totaling 251 MW in the U.S. Apex will retain the remaining shares and manage the portfolio operations. The portfolio comprises the 125 MWac Wheatsborough solar project in Ohio and the 126 MW Downeast wind project in Maine.
JUWI Energie Rinnovabili, the Italian subsidiary of international project developer JUWI Group, <a href="https://mercomcapital.com/juwi-energie-rinnovabili-sells-50-5-mw-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the sale of a 50.5 MW solar project portfolio to Kelag Italia, a subsidiary of Kelag Group, an Austrian renewable energy provider. The portfolio comprises eight authorized and ready-to-build solar projects located in Northern Italy. The company did not disclose the financial details of the transaction.
Sunraycer Renewables, a developer, owner, and operator of clean energy power sites, <a href="https://mercomcapital.com/sunraycer-secures-475-million-financing-for-solar-plus-storage-projects/" target="_blank" rel="noopener">secured</a> a $475 million project financing facility from MUFG Bank, Nomura Securities International, and Norddeutsche Landesbank Girzonentrale for the development and construction of Gaia and Midpoint solar and battery energy storage projects in Texas. The two projects include the 143 MWac Gaia solar project with a 75 MWac battery storage system in Navarro County and the 97.5 MWac Midpoint solar project coupled with a 50 MWac battery energy storage system in Hill County.
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-potentia-energy-acquires-renewable-projects/" target="_blank" rel="noopener">brief</a>.

<a href="https://octopusinvestments.com.au/" target="_blank" rel="noopener">Octopus Australia</a>, a renewable energy project developer and fund manager, has reached financial close on the 80 MW Fulham Solar Project and its co-located 128 MWh battery energy storage system, with a total value exceeding AUD 300 million (~$180.5 million). The company has also announced that construction of the project is now underway.
Equity capital financing was supported through Octopus&#8217; managed funds from investors, including Rest, the Clean Energy Finance Corporation (CEFC), and clients of Westpac Private Bank.
A power purchase agreement from the Victorian State Government backs the project.
According to the company, the project will utilize locally manufactured materials, which is expected to reach commercial operation in 2027.
GRS is the engineering, procurement, and construction contractor, and Wärtsilä will supply the project&#8217;s battery energy storage system.
&#8220;The successful close of Fulham Solar Farm and Battery marks a major step forward in our mission to accelerate Australia&#8217;s energy transition. This project demonstrates our ability to bring together institutional capital, government support, and leading-edge technology to create renewable assets that provide long-term benefits to our communities and investors. I&#8217;m incredibly proud of our team&#8217;s efforts in bringing the project through development, and we look forward to beginning construction,” said Sonia Teitel, Co-Managing Director of Renewables Australia.
Following the Fulham solar and battery project, the company plans to progress the Blind Creek solar and battery project in New South Wales and the standalone Blackstone Battery project in Queensland into construction in 2025.
According to Mercom&#8217;s Annual and Q4 2024 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">Report</a>, large-scale project funding in 2024 increased 21% year-over-year.
This week, Sunraycer Renewables, a developer, owner, and operator of clean energy power sites, <a href="https://mercomcapital.com/sunraycer-secures-475-million-financing-for-solar-plus-storage-projects/" target="_blank" rel="noopener">secured</a> a $475 million project financing facility from MUFG Bank, Nomura Securities International, and Norddeutsche Landesbank Girzonentrale for the development and construction of Gaia and Midpoint solar and battery energy storage projects in Texas.

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