RECPDCL Announces Winner of 4.5 GW Transmission Project

SAS, URECO Form US Joint Venture to Build 1 GW Solar Module Plant

PFC Consulting Tenders Two 765 kV Intrastate Transmission Projects in Rajasthan

Brookfield to Acquire Battery Storage Platform Aypa Power for $7 Billion

MNRE Issues Model Agreement for Electrolyzer as a Service

Sofab Inks Raises $6 Million to Scale Perovskite Solar Cell Materials

China’s Solar Capacity Tops 1.27 TW but Capacity Additions Drop 66% in 1H 2026

SECI Announces Winners of 4.4 MW Rooftop Solar Project Auction

Open Access Will Drive Large-Scale C&I Renewable Adoption: Interview

Tesla Q2 2026 Revenue Rises 26% on Record Deliveries, Misses Earning Estimates

Lightsource bp, a solar project developer, <a href="https://cms.mercomindia.com/lightsource-bp-sells-49-9-mw-solar-storage-project-to-schroders-greencoat/" target="_blank" rel="noopener">announced</a> the sale of the 49.9 MWac Tiln Farm solar and co-located 25 MW/50 MWh (two-hour duration) energy storage project to Schroders Greencoat, an investment manager dedicated to renewable infrastructure. The Tiln Farm project is located near Retford in Nottinghamshire, UK. The project began construction in 2022.
Enfinity Global, a U.S.-based renewable energy project developer, announced the financial <a href="https://cms.mercomindia.com/enfinity-global-secures-558-million-financing-solar-projects-italy/" target="_blank" rel="noopener">close</a> of €500 million (~$558.73 million), which will support the development and construction of around 1.5 GW of solar projects in Italy. The funding has been provided through a club deal structure in partnership with several investors, including Infranity, Schroders Capital, Rivage, BNP Paribas Asset Management, and QIC (Queensland Investment Corporation).
Clearway Energy Group, a developer and operator of clean energy projects, <a href="https://cms.mercomindia.com/clearway-secures-550-million-financing-for-solar-and-storage-project/" target="_blank" rel="noopener">closed</a> $550 million in financing for developing its Rosamond South I solar and storage project in Kern County, California. Upon completion, the solar portion will have a total capacity of 140 MW, and the storage capacity will be 118 MW.  The company has started constructing the Rosamond South I project and is expected to reach commercial operations in 2025.
Sun Investment Group, a solar project developer and investment management company, <a href="https://cms.mercomindia.com/sig-secures-construction-bridge-facility-29-mw-solar-project-portfolio/" target="_blank" rel="noopener">secured</a> a €16 million (~$17.87 million) construction bridge financing facility from an international debt fund. The funding will support the development of a portfolio of solar projects totaling 29 MW across Poland.
Sunly, a renewable energy power producer, <a href="https://cms.mercomindia.com/sunly-secures-335-million-for-hybrid-renewable-projects-in-baltics-and-poland/" target="_blank" rel="noopener">secured</a> €300 million ($335.15 million) financing from Scandinavian and French investors for developing 1.3 GW of solar, wind, storage, and hybrid projects. The funding will support the development of large-scale hybrid projects across the Baltics and Poland. The investors include Rivage Investment, which operates in France through a fund dedicated to solutions to climate problems; Copenhagen Infrastructure Partners through the Green Credit I fund; and Norway pension fund, KLP.
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-swift-current-energy-secures-financing-for-800-mw-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Lightsource bp Sells 49.9 MW Solar and Storage Project

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/09/amazon_polly_69759.mp3?version=1725424224">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/lightsource-bp-sells-solar-storage-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Lightsource bp, a solar project developer, <a href="https://mercomcapital.com/lightsource-bp-sells-49-9-mw-solar-storage-project-to-schroders-greencoat/" target="_blank" rel="noopener">announced</a> the sale of the 49.9 MWac Tiln Farm solar and co-located 25 MW/50 MWh (two-hour duration) energy storage project to Schroders Greencoat, an investment manager dedicated to renewable infrastructure. The Tiln Farm project is located near Retford in Nottinghamshire, UK. The project began construction in 2022.
Enfinity Global, a U.S.-based renewable energy project developer, announced the financial <a href="https://mercomcapital.com/enfinity-global-secures-558-million-financing-solar-projects-italy/" target="_blank" rel="noopener">close</a> of €500 million (~$558.73 million), which will support the development and construction of around 1.5 GW of solar projects in Italy. The funding has been provided through a club deal structure in partnership with several investors, including Infranity, Schroders Capital, Rivage, BNP Paribas Asset Management, and QIC (Queensland Investment Corporation).
Clearway Energy Group, a developer and operator of clean energy projects, <a href="https://mercomcapital.com/clearway-secures-550-million-financing-for-solar-and-storage-project/" target="_blank" rel="noopener">closed</a> $550 million in financing for developing its Rosamond South I solar and storage project in Kern County, California. Upon completion, the solar portion will have a total capacity of 140 MW, and the storage capacity will be 118 MW.  The company has started constructing the Rosamond South I project and is expected to reach commercial operations in 2025.
Sun Investment Group, a solar project developer and investment management company, <a href="https://mercomcapital.com/sig-secures-construction-bridge-facility-29-mw-solar-project-portfolio/" target="_blank" rel="noopener">secured</a> a €16 million (~$17.87 million) construction bridge financing facility from an international debt fund. The funding will support the development of a portfolio of solar projects totaling 29 MW across Poland.
Sunly, a renewable energy power producer, <a href="https://mercomcapital.com/sunly-secures-335-million-for-hybrid-renewable-projects-in-baltics-and-poland/" target="_blank" rel="noopener">secured</a> €300 million ($335.15 million) financing from Scandinavian and French investors for developing 1.3 GW of solar, wind, storage, and hybrid projects. The funding will support the development of large-scale hybrid projects across the Baltics and Poland. The investors include Rivage Investment, which operates in France through a fund dedicated to solutions to climate problems; Copenhagen Infrastructure Partners through the Green Credit I fund; and Norway pension fund, KLP.
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-swift-current-energy-secures-financing-for-800-mw-solar-project/" target="_blank" rel="noopener">brief</a>.

<a href="https://sunly.ee/" target="_blank" rel="noopener">Sunly</a>, a renewable energy power producer, secured €300 million ($335.15 million) financing from Scandinavian and French investors for developing 1.3 GW of solar, wind, storage, and hybrid projects. The funding will support the development of large-scale hybrid projects across the Baltics and Poland.
The investors include Rivage Investment, which operates in France through a fund dedicated to solutions to climate problems; Copenhagen Infrastructure Partners (CIP) through the Green Credit I fund; and Norway pension fund, KLP.
One of the first projects to be funded is the 244 MW solar project in Risti, which will include wind turbines and batteries in the future. Construction of four solar projects in Latvia with a combined capacity of 553 MW is also expected to begin. All the projects are expected to include wind turbines, batteries, or a combination of them in the future, showcasing the potential for renewable energy growth. The 1.3 GW portfolio also includes several large hybrid solar projects in Lithuania.
Jakob Groot, CIP partner and Co-CEO of CI Green Credit Fund, said, &#8220;This funding package will significantly contribute to the development and construction of renewable energy projects, supporting the decarbonization ambitions of the Baltic States and Poland, and will be an attractive investment for our Green Credit Fund I.&#8221;
Earlier this year, Sunly secured €65.9 million (~$71.10 million) in senior non-recourse project <a href="https://cms.mercomindia.com/sunly-secures-71-million-funding-for-solar-projects/" target="_blank" rel="noopener">funding</a> from mBank to develop renewable energy projects in Poland. The funding will be used to construct 58 solar projects with a total capacity of about 98 MW.
According to Mercom&#8217;s 1H and Q2 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-and-q2-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, large-scale solar project funding in 1H 2024 came to $19.9 billion in 117 deals compared to $14.9 billion in 113 deals in 1H 2023.
Last week, the European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank International provided €110 million (~$122 million) in <a href="https://cms.mercomindia.com/ebrd-and-raiffeisen-bank-provide-122m-loan-for-solar-projects-in-romania/" target="_blank" rel="noopener">funding</a> to build and operate two solar projects in southeastern Romania. The Iepuresti and Ghimpati solar projects have a total installed capacity of around 300 MW.

Sunly Secures $335 Million for Hybrid Renewable Projects in Baltics and Poland

Recurrent Energy, a solar project developer and a wholly owned subsidiary of Canadian Solar <a href="https://cms.mercomindia.com/recurrent-energy-secures-160-million-project-financing/" target="_blank" rel="noopener">secured</a> $160 million in project financing for the 127 MWdc Bayou Galion Solar project located in Morehouse Parish in Northeast Louisiana. The project is under construction and is expected to be operational by fall 2024. The company began the development of the Bayou Galion Solar project in 2018, and construction began in December 2023.
Nautilus Solar Energy, on behalf of its affiliate Nautilus US Power Holdco, has <a href="https://cms.mercomindia.com/nautilus-acquires-12-7-mw-community-solar-portfolio/" target="_blank" rel="noopener">acquired</a> a 12.7 MW portfolio of community solar projects in New York from SoIAmercia Energy. Both solar projects are expected to be fully operational in 2024. Once completed, the community solar projects are expected to provide clean energy to power over 1,800 residential subscribers within the National Grid utility territory.
SMT Energy, an energy storage project developer, <a href="https://www.prnewswire.com/news-releases/smt-energy-sells-400-megawatts-of-battery-energy-storage-facilities-to-ubs-asset-management-302055312.html" target="_blank" rel="noopener">announced</a> the sale of 400 MW of battery energy storage projects in Texas to UBS Asset Management. The projects are connected to the ERCOT power grid and are on track to come online in 2024 and 2025.
Sonnedix, an independent solar power producer, <a href="https://cms.mercomindia.com/sonnedix-secures-280-million-green-loan-financing/" target="_blank" rel="noopener">secured</a> a €260 million (~$280 million) green loan to finance the acquisition and construction of renewable energy projects in Italy. The multi-borrower loan includes greenfield project finance for the construction of two photovoltaic plants located in Sicily and Sardinia with a total capacity of around 200 MW, as well as an acquisition finance line of an operating asset.
Renewable energy power producer Sunly <a href="https://cms.mercomindia.com/sunly-secures-71-million-funding-for-solar-projects/" target="_blank" rel="noopener">secured</a> €65.9 million (~$71.10 million) in senior non-recourse project funding from mBank to develop renewable energy projects in Poland. The funding will be used to construct 58 solar projects with a total capacity of about 98 MW. Most of them will be located in the south of Poland, in the provinces of Małopolska, Opole, Podkarpackie, Silesia, and Świętokrzyskie, but individual installations are also planned in other regions.
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-vesper-energy-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Recurrent Energy Secures $160 Million Project Financing

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/02/amazon_polly_63283.mp3?version=1707885216">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/project-finance-brief-recurrent-energy-project-financing/" target="_blank" rel="noopener">Mercom Capital Group</a>
Recurrent Energy, a solar project developer and a wholly owned subsidiary of Canadian Solar <a href="https://mercomcapital.com/recurrent-energy-secures-160-million-project-financing/" target="_blank" rel="noopener">secured</a> $160 million in project financing for the 127 MWdc Bayou Galion Solar project located in Morehouse Parish in Northeast Louisiana. The project is under construction and is expected to be operational by fall 2024. The company began the development of the Bayou Galion Solar project in 2018, and construction began in December 2023.
Nautilus Solar Energy, on behalf of its affiliate Nautilus US Power Holdco, has <a href="https://mercomcapital.com/nautilus-acquires-12-7-mw-community-solar-portfolio/" target="_blank" rel="noopener">acquired</a> a 12.7 MW portfolio of community solar projects in New York from SoIAmercia Energy. Both solar projects are expected to be fully operational in 2024. Once completed, the community solar projects are expected to provide clean energy to power over 1,800 residential subscribers within the National Grid utility territory.
SMT Energy, an energy storage project developer, <a href="https://www.prnewswire.com/news-releases/smt-energy-sells-400-megawatts-of-battery-energy-storage-facilities-to-ubs-asset-management-302055312.html" target="_blank" rel="noopener">announced</a> the sale of 400 MW of battery energy storage projects in Texas to UBS Asset Management. The projects are connected to the ERCOT power grid and are on track to come online in 2024 and 2025.
Sonnedix, an independent solar power producer, <a href="https://mercomcapital.com/sonnedix-secures-280-million-green-loan-financing/" target="_blank" rel="noopener">secured</a> a €260 million (~$280 million) green loan to finance the acquisition and construction of renewable energy projects in Italy. The multi-borrower loan includes greenfield project finance for the construction of two photovoltaic plants located in Sicily and Sardinia with a total capacity of around 200 MW, as well as an acquisition finance line of an operating asset.
Renewable energy power producer Sunly <a href="https://mercomcapital.com/sunly-secures-71-million-funding-for-solar-projects/" target="_blank" rel="noopener">secured</a> €65.9 million (~$71.10 million) in senior non-recourse project funding from mBank to develop renewable energy projects in Poland. The funding will be used to construct 58 solar projects with a total capacity of about 98 MW. Most of them will be located in the south of Poland, in the provinces of Małopolska, Opole, Podkarpackie, Silesia, and Świętokrzyskie, but individual installations are also planned in other regions.
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-vesper-energy-solar-project/" target="_blank" rel="noopener">brief</a>.

Renewable energy power producer <a href="https://sunly.ee/" target="_blank" rel="noopener">Sunly</a> secured €65.9 million (~$71.10 million) in senior non-recourse project funding from mBank to develop renewable energy projects in Poland.
The funding will be used to construct 58 solar projects with a total capacity of about 98 MW. Most of them will be located in the south of Poland, in the provinces of Małopolska, Opole, Podkarpackie, Silesia, and Świętokrzyskie, but individual installations are also planned in other regions. The transaction also includes refinancing of Sunly’s earlier investments in Poland, including the construction of the “Rzezawa 60” project.
Sunly Group’s portfolio includes projects with 164 MW operational, 167 MW are under construction, and the target for 2024 ready-to-build is 1500 MW. The largest operating solar park is “Rzezawa 60”, located near Kraków. With a capacity of 60 MW and an annual average energy yield of 65,000 MWh, the project can cover the annual energy needs of a city with 80,000 inhabitants, like Nowy Sącz, supplying approximately 30,000 households, as well as urban infrastructure.
During the last capital raise completed in 2023, the company secured approximately €200 million (~$215.78 million) from its existing investors, the French fund Mirova, and from the European Bank for Reconstruction and Development (EBRD) to develop and construct solar and wind parks in Estonia, Latvia, Lithuania, and Poland.
“From the outset, Poland has been a highly attractive market for us. It’s already the second-largest renewables market in the European Union, with significant growth potential. Industry forecasts suggest that within the next three years, installed capacity is expected to double, and Sunly aims to contribute substantially to this growth. In the coming years, we plan to build solar farms and wind power plants together with battery storage in Poland and the Baltics with a total capacity of 4.6 GW. We are thrilled to have Polish partners like mBank on board, who recognize the potential of the renewable energy market and its importance to Polish energy consumers,” says Priit Lepasepp, founder and CEO of Sunly.
According to Mercom’s Q4 and Annual Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2023-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding deals announced in 2023 came to $44.5 billion in 229 deals, of which 196 were disclosed.

sunly

Get the most relevant India solar and clean energy news.

RECENT POSTS