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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-enviromena-acquires-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Enviromena, a U.K.-based independent power producer, </strong><a href="https://mercomcapital.com/enviromena-acquires-49-9-mw-longpasture-solar-project/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of the 49.9 MW Longpasture solar project from Bluefield Solar</strong>, a London-listed income fund, and Lightrock Power, a solar project developer. The fully consented solar project, located near Darlington, County Durham, is expected to reach completion in late 2027. The project has an option for a co-located 39.7 MW battery energy storage system.</p>
<p><strong>Qair, </strong>an independent renewable energy producer, <a href="https://mercomcapital.com/qair-secures-5-7-million-financing-for-floating-solar-project/" target="_blank" rel="noopener">secured</a> $5.7 million senior debt financing from the Facility for Energy Inclusion, managed by Cygnum Capital, an investment bank and asset management firm. The facility will support the development, building, operations, and maintenance of the 5.8 MWp Seysun Lagoon floating solar project located in the Providence Lagoon on Mahé Island in Seychelles.</p>
<p><strong>New Delhi-based waste and wastewater management solutions company Enviro Infra Engineers (EIEL) has completed the </strong><a href="https://www.mercomindia.com/enviro-infra-engineers-acquires-vento-power-infras-40-mw-solar-project" target="_blank" rel="noopener"><strong>acquisition</strong></a><strong> of Vento Power, a company developing a 40 MW solar power project </strong>in the Bolangir district of Odisha. The total cash consideration for the transaction was ₹1.15 billion (~$13.37 million). The acquisition was carried out through EIE Renewables, a wholly owned subsidiary of EIEL, which has entered into definitive agreements with PTC India.</p>
<p><strong>Bluefield Solar (BSIF), the London-listed U.K. income fund focused primarily on acquiring and managing solar energy assets, </strong><a href="https://mercomcapital.com/bluefield-solar-sells-250-mw-solar-and-storage-portfolio/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the sale of a portfolio of solar and storage projects</strong> totaling 250 MW to Lyceum Solar, a joint venture with 25% ownership by BSIF and 75% ownership by GLIL Infrastructure. The 75% stake acquired by GLIL in the Phase 3 portfolio amounts to £38 million (~$51 million), of which £28 million (~$38 million) is to be paid upfront following the closing of the transaction.</p>
<p><strong>Foresight, an investment manager, announced that its Australian Renewables Income Fund (ARIF) </strong><a href="https://mercomcapital.com/foresights-australian-renewables-income-fund-secures-453-million/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> A$700 million (~$453 million) portfolio debt refinancing</strong> to strengthen its capital structure and support future growth. The refinancing consolidates debt across ARIF’s portfolio of ten operating renewable energy projects.</p>
<p>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.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-green-genius-solar-projects/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Enviromena Acquires 49.9 MW Longpasture Solar Project


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-broad-reach-bess-projects/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Broad Reach Power, a utility-scale battery storage project developer, </strong><a href="https://mercomcapital.com/broad-reach-power-secures-bess-projects/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $435 million in credit facilities to support the construction of seven stand-alone energy storage projects</strong> totaling 880 MW in Texas and California. The Battery Energy Storage System projects are under construction, with expected commercial operation dates ranging from late 2023 through Q1 2024. The projects include 825 MW in ERCOT and 55 MW in CAISO.</p>
<p><strong>Alternus Energy, an independent power producer, </strong><a href="https://mercomcapital.com/alternus-energy-acquires-solar-project-portfolio-spain/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> a 32 MW portfolio of solar PV projects in Valencia, Spain, known as the “NF Projects.”</strong> The portfolio consists of six projects,  five of which, totaling 24.4 MW, are expected to reach operation in Q2 2024, with the remaining one project expected to achieve operation in Q1 2025. The initial funding for the project comes from the local bank Banco Internacional Español-Bankinter. Alternus subsidiary Unisun will manage the project construction.</p>
<p><strong>Matrix Renewables, the TPG Rise-backed renewable energy platform, <a href="https://mercomcapital.com/matrix-renewables-acquires-controlling-stake-solar-project/" target="_blank" rel="noopener">acquired</a> a controlling interest in 261 MW of the Pleasant Valley Solar Project</strong> from rPlus Energies in Idaho. The project will begin construction in Q3 2023. The Pleasant Valley Solar project was awarded a power purchase agreement through a negotiated process with Meta and Idaho Power.</p>
<p><strong>Qair, an independent renewable energy producer, </strong><a href="https://mercomcapital.com/qair-secures-financing-for-solar-project-portfolio-poland/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a PLN 335.3 million (~$82.31 million) loan to develop a 129.5 MW solar project portfolio in Poland</strong>. The portfolio consists of three large-scale solar projects located in Golczewo, Rokietnica, and Pakość. The loan agreement was signed with the Santander Bank Polska and PKO Bank Polski consortium. The energy generated by the solar farm will be sold to identified off-takers under long-term corporate power purchase agreements.</p>
<p><strong>Nautilus Solar Energy, a community solar company, </strong><a href="https://mercomcapital.com/nautilus-solar-energy-acquires-community-solar-portfolio-delaware/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> a 28.7 MW portfolio of six community solar projects in Delaware from TurningPoint Energy (TPE).</strong> The projects, located in Kent, New Castle, and Sussex Counties, are in the late stages of development and are expected to start construction in 2024. TPE developed the six projects as part of Delaware’s community solar program.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://www.mercomindia.com/project-finance-brief-clearway-energy-storagesolar-project" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Broad Reach Secures $435 Million for 880 MW BESS Projects

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