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					</table><p><strong>Sustainable infrastructure investor Greenbacker Capital Management has </strong><a href="https://mercomcapital.com/greenbacker-acquires-bess-project-california/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> a 30-MW/120-MWh battery energy storage system project</strong> in Imperial County, California, from the solar and storage developer SunCode. The project has a long-term power purchase agreement in place with an investment-grade utility and is expected to enter commercial operation in the third quarter of 2023.</p>
<p><strong>Altus Power, an independent solar power producer, </strong><a href="https://mercomcapital.com/altus-power-secures-funding-funding/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> an incremental $47 million in debt funding from Blackstone</strong>. The total debt will provide long-term fixed-rate financing for 35 MW of operating assets in Altus Power’s portfolio. The proceeds will be used to pay off $15.8 million outstanding under the company’s construction facility, with the remainder as net cash proceeds to be reinvested in its business.</p>
<p><strong>European Energy, a solar project developer, <a href="https://mercomcapital.com/european-energy-sells-solar-project-italy/" target="_blank" rel="noopener">signed</a> an agreement with IREN, an Italian energy group, for the sale of the ready-to-build 20.39 MW of Noto solar project in Sicily.</strong> The agreement falls within the framework of the partnership signed between the companies in January 2022 for the pipeline of more than 437.5 MW photovoltaic projects on sites in Lazio, Puglia, and Sicily.</p>
<p><strong>Investment firm Blackstone Infrastructure Partners has </strong><a href="https://mercomcapital.com/blackstone-completes-equity-investment-invenergy-renewables/" target="_blank" rel="noopener"><strong>finalized</strong></a><strong> an approximately $1 billion equity investment in sustainable energy solutions provider Invenergy Renewables Holdings</strong>. The infusion of funds will play a vital role in supporting Invenergy’s diverse portfolio of projects, which encompasses solar and onshore wind farms, energy storage facilities, offshore wind initiatives, high-voltage direct current interregional transmission lines, clean hydrogen projects, solar module manufacturing, and the burgeoning its Reactivate venture that focuses on community solar initiatives.</p>
<p><strong>Uzma, an energy service provider company, announced that through its subsidiary, Uzma Kuala Muda successfully </strong><a href="https://mercomcapital.com/uzma-secures-solar-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> RM225 million</strong> (~$48.44 million) Syndicated Islamic Financing Facilities to support the construction, development, operation, and maintenance of a 50 MW solar project. Affin Islamic Bank and the Export-Import Bank of Malaysia provided the funding. The project will be constructed at Lot 4, Bukit Selambau, Mukim Kuala Muda, Sungai Petani, Kedah Darul Aman.</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://www.mercomindia.com/project-finance-brief-grenergy-solar-project-spain" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Greenbacker Acquires 120 MWh BESS Project in California

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