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POWERGRID Tenders 500 MW/1,000 MWh Battery Energy Storage Projects

Zenobē, a U.K.-based owner and operator of grid-scale battery storage, has <a href="https://cms.mercomindia.com/zenobe-acquires-400-mw-battery-energy-storage-project/" target="_blank" rel="noopener">announced</a> the acquisition of a 400 MW ready-to-build battery energy storage system in Low Harker, Cumbria, from Innova, a U.K.-based renewable energy project developer. Innova received planning consent on the project in October 2023 and has been developing the Harker site since 2022. The storage project is scheduled for connection in 2028.
Helexia, a solar project developer and a subsidiary of Voltalia, <a href="https://cms.mercomindia.com/helexia-secures-58-million-financing-for-solar-projects/" target="_blank" rel="noopener">raised</a> a second incremental tranche of its financing program, amounting to €50 million (~$58 million), to support the development of its solar project portfolio across Europe. The financing will strengthen Helexia’s resources to integrate 240 new rooftop and carport solar installations into operation across five European countries, including Belgium, France, Italy, Portugal, and Spain.
Verano Energy, a utility-scale solar and green hydrogen project developer, has <a href="https://cms.mercomindia.com/verano-energy-secures-204-million-project-financing/" target="_blank" rel="noopener">secured</a> a $204 million project finance facility for its Domeyko hybrid project, which includes an 83 MW solar with 660 MWh of battery energy storage system. The under-construction project is  located in northern Chile near Vallenar in the Atacama region. The project is scheduled for commercial operation by the end of 2026.
Statkraft, a Norway-based renewable energy company, has <a href="https://cms.mercomindia.com/statkraft-sells-120-mw-solar-project-portfolio/" target="_blank" rel="noopener">sold</a> a 120 MWp operational solar project portfolio to the Dutch renewable energy supplier Greenchoice. In the Netherlands, a share purchase agreement has been signed with Greenchoice for the acquisition of 120 MWp of operational solar assets, along with a development portfolio of solar, wind, and battery projects, and the integration of a team of experienced professionals. The transaction is expected to close in the autumn this year. The financial details of the transaction remained undisclosed.
Meridian Energy, a New Zealand-based power company, and Nova Energy, a Wellington-based energy company, <a href="https://cms.mercomindia.com/meridian-and-nova-secure-177-million-for-solar-project/" target="_blank" rel="noopener">secured</a> NZ$300 million (~$177 million) in project financing for the first 200 MW phase of the Te Rahui solar project located at Rangitāiki near Taupō, New Zealand. The project offtake will be shared 50-50 under a power purchase agreement with Meridian for 100% of the offtake and a contract for difference with Nova for 50%.
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-enviromena-acquires-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Zenobē Acquires 400 MW Battery Energy Storage Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-zenobe-acquires-energy-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Zenobē, a U.K.-based owner and operator of grid-scale battery storage, has <a href="https://mercomcapital.com/zenobe-acquires-400-mw-battery-energy-storage-project/" target="_blank" rel="noopener">announced</a> the acquisition of a 400 MW ready-to-build battery energy storage system in Low Harker, Cumbria, from Innova, a U.K.-based renewable energy project developer. Innova received planning consent on the project in October 2023 and has been developing the Harker site since 2022. The storage project is scheduled for connection in 2028.
Helexia, a solar project developer and a subsidiary of Voltalia, <a href="https://mercomcapital.com/helexia-secures-58-million-financing-for-solar-projects/" target="_blank" rel="noopener">raised</a> a second incremental tranche of its financing program, amounting to €50 million (~$58 million), to support the development of its solar project portfolio across Europe. The financing will strengthen Helexia’s resources to integrate 240 new rooftop and carport solar installations into operation across five European countries, including Belgium, France, Italy, Portugal, and Spain.
Verano Energy, a utility-scale solar and green hydrogen project developer, has <a href="https://mercomcapital.com/verano-energy-secures-204-million-project-financing/" target="_blank" rel="noopener">secured</a> a $204 million project finance facility for its Domeyko hybrid project, which includes an 83 MW solar with 660 MWh of battery energy storage system. The under-construction project is  located in northern Chile near Vallenar in the Atacama region. The project is scheduled for commercial operation by the end of 2026.
Statkraft, a Norway-based renewable energy company, has <a href="https://mercomcapital.com/statkraft-sells-120-mw-solar-project-portfolio/" target="_blank" rel="noopener">sold</a> a 120 MWp operational solar project portfolio to the Dutch renewable energy supplier Greenchoice. In the Netherlands, a share purchase agreement has been signed with Greenchoice for the acquisition of 120 MWp of operational solar assets, along with a development portfolio of solar, wind, and battery projects, and the integration of a team of experienced professionals. The transaction is expected to close in the autumn this year. The financial details of the transaction remained undisclosed.
Meridian Energy, a New Zealand-based power company, and Nova Energy, a Wellington-based energy company, <a href="https://mercomcapital.com/meridian-and-nova-secure-177-million-for-solar-project/" target="_blank" rel="noopener">secured</a> NZ$300 million (~$177 million) in project financing for the first 200 MW phase of the Te Rahui solar project located at Rangitāiki near Taupō, New Zealand. The project offtake will be shared 50-50 under a power purchase agreement with Meridian for 100% of the offtake and a contract for difference with Nova for 50%.
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-enviromena-acquires-project/" target="_blank" rel="noopener">brief</a>.

<a href="https://verano.energy/" target="_blank" rel="noopener">Verano Energy</a>, a utility-scale solar and green hydrogen project developer, has secured a $204 million project finance facility for its Domeyko hybrid project, which includes an 83 MWp solar with 660 MWh of battery energy storage system.
The project is currently under construction and is located in northern Chile near Vallenar in the Atacama region. The project is scheduled for commercial operation by the end of 2026.
According to the company, the Domeyko project will require a total capex of $247 million. Of this, a syndicate of international banks comprising SMBC, Société Générale, and Scotiabank will provide a term loan of $176 million, along with $12 million in VAT debt financing provided by Scotiabank.
In December 2024, Verano Energy entered into a long-term Power Purchase Agreement (PPA) with Abastible, securing steady revenues for the project while contributing to Chile&#8217;s energy decarbonization.
&#8220;This financing is a transformational step for Verano Energy and for renewable energy in Chile and Latin America. Domeyko demonstrates the ability of solar plus storage to directly replace fossil fuels and provide reliable, low-cost power to major energy users,&#8221; said Dylan Rudney, CEO of Verano Energy. &#8220;In just over a decade, we have evolved from a solar developer into a fully integrated Independent Power Producer with projects across Chile, Colombia, Argentina, and Peru. Domeyko financing reflects not only the strength of our model but also the confidence of global financial institutions in Verano&#8217;s role as a leader in Latin America&#8217;s energy transition. We are proud to partner with Lumina and our lenders to bring this flagship project to life.&#8221;
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>, large-scale project funding increased by 65% in the first half of 2025 compared to the same period in 2024.
In August, Helexia, a solar project developer and a subsidiary of Voltalia, <a href="https://cms.mercomindia.com/helexia-secures-58-million-financing-for-solar-projects/" target="_blank" rel="noopener">raised</a> a second incremental tranche of its financing program, amounting to €50 million (~$58 million), to support the development of its solar project portfolio across Europe.

Verano Energy Secures $204 Million Project Financing

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