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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-elgin-secures-672-million-for-solar-storage-pipeline/" target="_blank" rel="noopener">Mercom Capital Group</a>
Elgin, an integrated, utility-scale solar and storage independent power producer, <a href="https://mercomcapital.com/elgin-secures-672-million-for-1-gw-solar-and-storage-pipeline-in-the-uk/" target="_blank" rel="noopener">secured</a> up to £500 million (~$672 million) of funding from a banking syndicate to accelerate the build-out of its U.K. pipeline over the coming years. The banking group, including BNP Paribas, Siemens Bank, Société Générale, Standard Chartered, and NatWest, also acted as the sole structuring and coordinating bank.
Atlas Renewable Energy, a solar and wind project developer, <a href="https://mercomcapital.com/atlas-renewable-energy-secures-121-million-for-el-campano-solar-project/" target="_blank" rel="noopener">secured</a> COP453.95 billion (~$121 million) in financing for the 128.8 MWdc/99.9 MWac El Campano solar project in Córdoba, Colombia, achieving financial close and enabling construction. The financing package is structured under a project finance framework, combining private equity with long-term project finance debt. It includes a loan of COP292.1 billion (~$78 million) and a commercial credit of COP58.38 billion (~$16 million).
ContourGlobal, an international independent power producer backed by KKR, <a href="https://mercomcapital.com/contourglobal-secures-52m-refinancing-solar-portfolio-greece/" target="_blank" rel="noopener">secured</a> €43.8 million (~$52 million) in refinancing from Eurobank for a 36.7 MW operational solar portfolio in Greece. The refinancing covers the majority of the acquisition cost of a portfolio comprising 26 operational solar projects, held across seven special purpose vehicles. The projects, with a combined installed capacity of 36.7 MW, were commissioned between 2011 and 2022.
Sweden-based Orrön Energy, a renewable energy project developer focused on onshore renewable energy assets, <a href="https://mercomcapital.com/orron-energy-sells-91-mw-agrivoltaic-project-in-germany/" target="_blank" rel="noopener">completed</a> the sale of a 91 MW agrivoltaic project with a co-located battery option in Eastern Germany to Gülermak Renewables, an independent power producer. The total consideration for the transaction is up to €5.6 million (~$6.6 million), including the reimbursement of development costs.
Altus Power, an independent developer, owner, and operator of commercial-scale solar projects, <a href="https://mercomcapital.com/altus-power-acquires-solar-storage-project-in-new-york/" target="_blank" rel="noopener">announced</a> the acquisition of a solar + storage project from Arevon, located on the carport at the Croton‑Harmon Train Station in Westchester County, New York. The project consists of approximately 4.2 MW of solar generation, integrated with a 15 MWh battery energy storage system.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week’s project finance <a href="https://www.mercomindia.com/project-finance-brief-origis-energy-secures-118-million" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Elgin Secures $672 Million for Solar, Storage Pipeline

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					</table>Sweden-based <a href="https://www.orron.com/" target="_blank" rel="noopener">Orrön Energy</a>, a renewable energy project developer focused on onshore renewable energy assets, has completed the sale of a 91 MW agrivoltaic project with a co-located battery option in Eastern Germany to Gülermak Renewables, an independent power producer.
The total consideration for the transaction is up to €5.6 million (~$6.6 million), including reimbursement of development costs. Of this, €2.4 million (~$2.8 million) was paid at closing, with the remaining amount contingent on the achievement of development milestones.
The project is currently at the ready-to-permit stage, with Orrön Energy continuing to advance development until it reaches ready-to-build status, expected by 2027.
Watson Farley &amp; Williams advised Orrön Energy on the transaction.
Orrön Energy has previously divested three agrivoltaic projects to Gülermak Renewables, <a href="https://mercomcapital.com/orron-energy-sells-234-mw-solar-projects-in-germany/" target="_blank" rel="noopener">including</a> a 234 MW solar project in Germany, for a total consideration of up to €14 million (approximately $16 million). The portfolio comprises three solar projects.
“We are delighted to have once again advised Orrön Energy. Agrivoltaics is an innovative solution that maximizes land use and will play an important role in the energy transition. Advising on such deals underscores WFW’s recognized expertise in the renewable energy sector,” said Wolfram Böge, Hamburg Corporate Partner, Watson Farley &amp; Williams.
In addition to the project sale, Orrön Energy said it has secured municipal approval for a separate battery energy storage project in Germany. The company is also exploring divestment options for a 1.8 GW solar project pipeline in the UK.
According to Mercom’s Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, approximately 37.4 GW of solar projects were acquired in 2025, compared to 37.7 GW in 2024.
In 2023, OX2, a Sweden-based renewable energy company that develops, funds, and manages large-scale projects, <a href="https://mercomcapital.com/ox2-sells-23-mw-agripv-project-in-france/" target="_blank" rel="noopener">signed</a> an agreement to sell 23 MW of an agri-PV project in the Loiret region of France to CVE, a France-based independent renewable energy power producer.

Orrön Energy Sells 91 MW Agrivoltaic Project in Germany

<a href="https://www.orron.com/" target="_blank" rel="noopener">Orrön Energy</a>, an independent renewable energy company, has entered into an agreement with Gülermak Renewables Deutschland Holding, a subsidiary of Gülermak Renewables, to sell 234 MW of solar projects in Germany for a total consideration of up to MEUR 14 (~$16 million). The portfolio consists of three solar projects.
This amount includes reimbursement of development expenses and milestone-based payments linked to project progress through to the ready-to-build stage. Of the contingent consideration, 40% is payable upon achieving ready-to-permit status, with the remaining 60% due at the ready-to-build stage.
The first project is expected to receive an upfront payment of €0.7 million (~$0.82 million) at closing, with the remaining consideration paid progressively, subject to the achievement of defined development milestones through to the ready-to-build stage.
The projects are located in eastern Germany and are being developed as Agri-PV projects with co-located battery options, enabling agricultural activities to take place alongside solar power generation.
The projects are currently in a pre-ready-to-permit stage and will be in the ready-to-build stage in 2027, subject to obtaining favorable permit approvals and grid reservations.
Under the agreement, the company will continue developing the projects up to the ready-to-build stage. Closing for the first project is expected at the beginning of 2026.
Daniel Fitzgerald, CEO for Orrön Energy, commented, &#8220;I am pleased to announce our second sale in Germany, this time with a portfolio of projects which clearly demonstrates the high quality of our greenfield platform. Supported by a growing and maturing pipeline of projects, I expect this platform to continue generating additional revenue streams as we deliver on our greenfield monetization strategy. Gülermak is a strong and reputable partner with deep technical and engineering expertise, and I look forward to exploring further opportunities for collaboration.&#8221;
In August, the company <a href="https://cms.mercomindia.com/orron-energy-sells-76-mw-solar-project-in-germany/" target="_blank" rel="noopener">entered</a> into an agreement with Saxovent Renewables, a renewable energy project developer, to sell a 76 MW solar project in Germany. The agrivoltaic project is being developed in the northeastern part of Germany.
In the first nine months of 2025, approximately 29 GW of solar projects were acquired compared to 28.3 GW in 9M 2024, 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>.

Orrön Energy Sells 234 MW of Solar Projects in Germany

<a href="https://www.orron.com/" target="_blank" rel="noopener">Orrön Energy</a>, a renewable energy company, entered into an agreement with <a href="https://saxovent.com/" target="_blank" rel="noopener">Saxovent Renewables</a>, a renewable energy project developer, to sell a 76 MW solar project in Germany. The project, being developed as an agrivoltaic project, is located in the northeastern part of Germany.
The transaction is valued at up to €4 million (~$4.6 million), including an up-front consideration of €2 million (~$2.3 million). The remaining amount is to be paid upon fulfillment of two conditions: first, upon municipal approval of the zoning plan (Satzungsbeschluss), and second, EU Commission&#8217;s approval of the German Solar Package 1 legislation.
This deal is part of the company&#8217;s strategy to monetize early-stage projects from its greenfield portfolio to diversify and enhance revenue streams.
Daniel Fitzgerald, CEO for Orrön Energy, commented, &#8220;I am very pleased to announce the first sale from our greenfield portfolio in Germany, which demonstrates our ability to unlock value early in the development cycle and marks an important step in delivering on our strategy. Germany remains one of our key markets for greenfield projects, with a strong demand for renewable energy and a supportive regulatory framework. I expect this to be the first in a series of project sales, as we continue to develop and mature our greenfield pipeline and deliver long-term value from this platform.&#8221;
Orrön Energy has 2.5 GW of projects at the ready-to-permit stage in the U.K., including 1.4 GW of solar and 500 MW of battery storage capacity, and one solar and battery storage project with 600 MW capacity.
According to Mercom&#8217;s 1H and Q2 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-and-q2-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, approximately 19.9 GW of solar projects were acquired in the first half of 2025, compared to 18.5 GW in the first half of 2024.
In July, Cambridge Power, a U.K.-based developer of grid-scale energy storage and renewable energy projects, <a href="https://cms.mercomindia.com/agr-renewables-acquires-cambridge-powers-solar-and-battery-storage-project/" target="_blank" rel="noopener">announced</a> the sale of a 70 MW solar and 100 MW Battery Energy Storage System project near Eaton Socon in Bedfordshire to AGR Renewables, another renewable energy project developer.

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