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Grenergy, a solar, wind, and storage project developer, has agreed to <a href="https://cms.mercomindia.com/grenergy-sells-solar-project-spain/" target="_blank" rel="noopener">sell</a> its 150 MW Belinchón solar project in Spain to a European Independent Power Producer, with the net proceeds from the sale amounting to €83 million (~$90.75 million) (equity value). The deal is expected to be completed before the year-end, subject to the fulfillment of certain conditions. The sale of 100% of its Belinchón solar photovoltaic project is the first milestone of the Valkyria Project, which includes the sale of up to 1.1 GW of solar assets in Spain.
Interogo Holding, an investment unit of the IKEA Group, via its infrastructure investment fund Inter Infrastructure Capital (IIC), has agreed to <a href="https://cms.mercomindia.com/interogo-holding-acquires-solar-project-portfolio/" target="_blank" rel="noopener">acquire</a> 49% of a 1,066 MW portfolio of operational and under-construction solar photovoltaic generation assets from BRUC Group. The transaction details were not disclosed. Santander and JP Morgan have acted as financial advisors and Linklaters as legal on BRUC’s side.
SENS, a solar as a service provider company, has agreed to <a href="https://cms.mercomindia.com/sens-sells-solar-project-portfolio-peridot-solar/" target="_blank" rel="noopener">sell</a> a 135 MW solar project in Sicily to Peridot Solar, an international solar project developer. The 135 MW solar project comprises six sub-projects and is the first of seven planned open-space agri-photovoltaic systems. The entire pipeline will include around 700 MW of photovoltaic output in addition to regenerative energy generation per year.
DSD Renewables, a business backed by BlackRock Real Assets’ Global Renewable Power platform and GE Renewable Energy and a provider of customized solar PV energy and energy storage solutions, <a href="https://cms.mercomindia.com/dsd-renewables-secures-funding-us-solar-projects/" target="_blank" rel="noopener">secured</a> $140 million in pre-notice to proceed (NTP) credit facilities to support solar projects in late-stage development. The capital will support the continued development of DSD’s late-stage development pipeline, totaling 205 MW across California, Illinois, Maine, Massachusetts, Minnesota, New York, Vermont, and Virginia.
Vena Energy, an independent solar power producer, <a href="https://cms.mercomindia.com/vena-energy-secures-green-loan-kasama-solar-project/" target="_blank" rel="noopener">secured</a> a JPY16.9 billion (~$121 million) green loan for developing the 53 MW Kasama solar project. MUFG Bank led the JPY16.9 billion (~$121 million) financing arrangement with co-financing by Joyo Bank in Japan.
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-ampyr-secures-project-finance-facility/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Grenergy Sells a 150 MW Solar Project in Spain

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-grenergy-sells-solar-project-spain/" target="_blank" rel="noopener">Mercom Capital Group</a>
Grenergy, a solar, wind, and storage project developer, has agreed to <a href="https://mercomcapital.com/grenergy-sells-solar-project-spain/" target="_blank" rel="noopener">sell</a> its 150 MW Belinchón solar project in Spain to a European Independent Power Producer, with the net proceeds from the sale amounting to €83 million (~$90.75 million) (equity value). The deal is expected to be completed before the year-end, subject to the fulfillment of certain conditions. The sale of 100% of its Belinchón solar photovoltaic project is the first milestone of the Valkyria Project, which includes the sale of up to 1.1 GW of solar assets in Spain.
Interogo Holding, an investment unit of the IKEA Group, via its infrastructure investment fund Inter Infrastructure Capital (IIC), has agreed to <a href="https://mercomcapital.com/interogo-holding-acquires-solar-project-portfolio/" target="_blank" rel="noopener">acquire</a> 49% of a 1,066 MW portfolio of operational and under-construction solar photovoltaic generation assets from BRUC Group. The transaction details were not disclosed. Santander and JP Morgan have acted as financial advisors and Linklaters as legal on BRUC’s side.
SENS, a solar as a service provider company, has agreed to <a href="https://mercomcapital.com/sens-sells-solar-project-portfolio-peridot-solar/" target="_blank" rel="noopener">sell</a> a 135 MW solar project in Sicily to Peridot Solar, an international solar project developer. The 135 MW solar project comprises six sub-projects and is the first of seven planned open-space agri-photovoltaic systems. The entire pipeline will include around 700 MW of photovoltaic output in addition to regenerative energy generation per year.
DSD Renewables, a business backed by BlackRock Real Assets’ Global Renewable Power platform and GE Renewable Energy and a provider of customized solar PV energy and energy storage solutions, <a href="https://mercomcapital.com/dsd-renewables-secures-funding-us-solar-projects/" target="_blank" rel="noopener">secured</a> $140 million in pre-notice to proceed (NTP) credit facilities to support solar projects in late-stage development. The capital will support the continued development of DSD’s late-stage development pipeline, totaling 205 MW across California, Illinois, Maine, Massachusetts, Minnesota, New York, Vermont, and Virginia.
Vena Energy, an independent solar power producer, <a href="https://mercomcapital.com/vena-energy-secures-green-loan-kasama-solar-project/" target="_blank" rel="noopener">secured</a> a JPY16.9 billion (~$121 million) green loan for developing the 53 MW Kasama solar project. MUFG Bank led the JPY16.9 billion (~$121 million) financing arrangement with co-financing by Joyo Bank in Japan.
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://www.mercomindia.com/project-finance-brief-ampyr-secures-project-finance-facility" target="_blank" rel="noopener">brief</a>.

<a href="https://www.sens-energy.com/" target="_blank" rel="noopener">SENS</a>, a solar as-a-service provider, has agreed to sell its 135 MW solar project portfolio in Sicily to Peridot Solar, a solar project developer—the solar projects will begin operating at the beginning of 2025.
The projects will generate more than 220 GWh of renewable energy annually. Palermo, the capital of Sicily, could be provided with this energy for approximately the first three months.
The 135 MW solar portfolio is the first of seven planned open-space agri-photovoltaic systems. The entire pipeline will include around 700 MW of PV output and regenerative energy generation annually.
&#8220;This project includes the full range of our PV services, so that we, as a full-service provider, have developed the entire 135 MWp in Sicily and will now build and support them,&#8221; explains Sarah Herresthal, Managing Director of SENS Italia. After the completion of the construction phase and the commissioning of the solar park, the O&amp;M services will also be taken over by SENS Italia. &#8220;But that&#8217;s not all; we are expanding our service on this project by also taking care of the agricultural care and harvesting the plants. SENS is now also becoming a farmer in Italy,” adds Herresthal proudly.
&#8220;Completing the substation will significantly strengthen the power infrastructure in the region. It illustrates the change in the energy industry and opens up the opportunity for private companies to play a more active role in developing sustainable energy sources,&#8221; emphasizes André Kremer, CEO of the SENS Group, enthusiastically. &#8220;Sicily has enormous, previously untapped potential for expanding renewable energies. Our goal is to make the best possible use of this potential while always taking the surrounding landscape into account,&#8221; says Kremer, underscoring the importance of the project.
According to Mercom’s Q1 2023 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2023-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, there were 67 large-scale solar project acquisitions in Q1 2023, compared to 61 transactions in Q4 2022. Grenergy, a solar, wind and storage project developer, <a href="https://cms.mercomindia.com/grenergy-sells-solar-project-spain/">recently</a> agreed to sell its 150 MW Belinchón solar project in Spain to a European IPP. Net proceeds to Grenergy amount to €83 million (~$90.75 million) (equity value).

SENS Sells 135 MW Solar Project Portfolio to Peridot Solar

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