rPlus Energies said on Tuesday it has secured over USD 1 billion in construction debt financing for its Green River Energy Centre, one of the largest planned solar-plus-storage facilities in Utah. #BESS #Solar #SolarStorage #RenewableEnergyNews
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💰 $1.3bn funding milestone: Invenergy secures debt from Natixis for solar, wind projects in Kansas and Texas 💼 Invenergy's billion-dollar financing spree: The $1.27bn debt deal will enable the construction of a 677 MW renewable portfolio expected to be operational by Q1 2025. Once the projects are operational, Invenergy will transfer ownership to American Electric Power. The deal marks Invenergy’s third $1bn+ debt deal for renewables development in the US, since the start of 2021. 🔍 $5bn YTD 2024 debt milestone: Enerdatics understands that the US has witnessed over $5bn in project financing deals for solar and wind assets in the first quarter of 2024. Other major deals include Arevon Energy’s $654mn fundraising from JP Morgan and National Bank of Canada and Longroad Energy’s $650mn financing with CIBC and Societe Generale. 🌞 Solar Dominance: Solar projects lead the charge, accounting for ~75% of the deal activity. Many of these projects also included co-located battery energy storage systems (BESS), reflecting investor appetite for round-the-clock renewable energy. 📍 State Spotlight: Texas, California, Arizona, and Kansas are at the forefront, with Texas alone accounting for over $1.5bn. These four states represent over $2.5bn in total financings, YTD 2024. Access granular data and analytics on renewable energy debt deals with the Enerdatics Energy Transition Finance database – the most comprehensive source of research and intelligence on renewable energy transactions, globally. #RenewableEnergy #SolarPower #WindEnergy #ProjectFinancing #SustainableInvesting #GreenFinance #Texas #Kansas #Invenergy #AEP
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GoldenPeaks Capital has financed a portfolio of solar PV projects in Hungary totalling 64.5 MWp. “We’re delighted to have secured both senior and junior facilities for our projects in Hungary marking another milestone in our history,” declared Daniel Tain, President of GPC. “Concurrently, we’re welcoming two new strategic lenders to our network, crucial for our mission to be a leading Independent Power Producer in the Central Eastern European market.” Erste Group and Erste Bank Hungary provided the senior financing, while the junior piece was backed by a fund managed by the French asset manager Schelcher Prince Gestion. Capcora acted as the exclusive financial advisor to GPC on securing the mezzanine financing. The financed portfolio comprises two solar projects located in northeast Hungary, which are currently under construction. GPC said the financing package has been synchronised through parallel processes, in which the senior loan (whose financing was split evenly between Erste Group and Erste Bank Hungary) was secured at the SPV level, while the junior financing was obtained structurally subordinated at the HoldCo level. GPC added that the deal was tailored to the initial merchant nature of the projects, with the financing structure including a releveraging mechanism once the PPAs are signed, and the junior piece to start higher with the option for downsizing. “Partnering with GoldenPeaksCapital, we have worked out a financial structure which gives more time and flexibility than usual to source and negotiate power purchase agreements with off-takers as one of the major commercial pillars of the project,” stated Marcus Hinrich Fischer, Executive Director for Corporate Finance Solutions at Erste Group. “Integrating junior debt from SPG into the financing provides for further optimisation of the funding.” Sándor Végh, Head of Structured Finance at Erste Bank Hungary, said: “We are proud of being the financing partner of Golden Peaks Capital with their first PV project in Hungary. We look forward to further strengthening our relationship with additional projects.” GPC was advised by Dentons while Erste Bank worked with CMS and SPG with DLA Piper and Ganado Advocates. DNV acted as technical advisor to the lenders. #cleanenergy
GoldenPeaks Capital finances Hungarian solar PV portfolio
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Today, Akaysha announces it has secured the largest BESS financing globally at A$650 million, together with innovative virtual toll offtake with EnergyAustralia: ▪ Akaysha’s #Orana BESS is the largest BESS (four-hour) in the National Energy Market at 415MW/1660MWh ▪ Akaysha has now attracted A$3 billion of aggregate investment into energy storage projects in Australia ▪ Orana BESS is supported by a AEMO Services Long-Term Energy Service Agreement with the NSW and Commonwealth Governments ▪ Orana BESS has secured a twelve-year innovative ‘virtual toll’ offtake agreement with EnergyAustralia ▪ Orana BESS will use Tesla Energy Megapack as its battery technology ▪ Balance of Plant (BoP) to delivered by Consolidated Power Projects Australia Pty Ltd A big congratulations to all involved! 🔋 Learn more: https://lnkd.in/gnJNcFYy
Akaysha Energy secures largest BESS financing globally at A$650 million, together with innovative virtual toll offtake with EnergyAustralia
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Arevon Energy, Inc. has successfully secured over $1 billion in financing commitments for its #Eland 2 Solar-plus-Storage Project in Kern County, #California. Combining a 374-megawatt solar installation with 150 MW/600 megawatt-hours of #energystorage, the project is in the early stages of construction, targeting operation by Q1 2025. The financial support includes a $431 million tax equity commitment from Wells Fargo and $654 million in debt financing, encompassing a construction-to-term loan, a tax equity bridge loan, and letter of credit facilities. This significant investment will further propel the project towards its #cleanenergy goals. #ArevonEnergy #Eland2Project #SolarEnergy #EnergyStorage #RenewableFinance #SustainableDevelopment #CaliforniaSolar #CleanEnergyInvestment #WellsFargo #RenewablePower #California Read more: https://lnkd.in/dJpUmX7U
Arevon Secures Over $1 Billion Financing for Eland 2 Solar-plus-Storage Project in California, Cementing Leadership in Renewable Energy Industry
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Arevon Energy, Inc. Secures $1.1 Billion Financial Close for Eland 2 Solar-plus-Storage Project Arevon Energy, Inc., a leading renewable energy developer, owner, and operator, today announced it has secured more than $1 billion in aggregate financing commitments for its Eland 2 Solar-plus-Storage Project in Kern County, California. The 374 megawatt (MWdc) solar project coupled with 150 MW/600 megawatt hours (MWh) of energy storage, is under early-stage construction and is anticipated to come online in Q1 2025. Wells Fargo provided a $431 million tax equity commitment. Arevon obtained $654 million of debt financing including a construction-to-term loan, a tax equity bridge loan, and a letter of credit facilities. The Canadian Imperial Bank of Commerce […] Read the full story here: https://lnkd.in/dPd79irW #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #cibc #energystorage #financing #northamerica #renewableenergy #solar+storage #solarenergy #usa #wellsfargo
Arevon Secures $1.1 Billion Financial Close for Eland 2 Solar-plus-Storage Project
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Big congratulations to the Equis Australia and SEC Victoria teams in finalising this transaction, in particular this third stage is a land-mark 4h system (200MW and 800MWh of rated capacity). Tesla are excited to be building this project, and delivering our full integrated Megapack system with grid-forming technology to connect to the NEM. The storage market is deepening in both the NEM and SWIS in Australia, and longer-duration 4h projects are evidence of this. In the early days of the market (that don't seem that long ago!), there was a focus on 15-minute and 30-minute systems, then 2h which focused on the speed of response and participation in ancillary market services such as FCAS and other protection systems. There's lots of drivers for moving to 4h, however as we integrate more renewables into the power system, these trends will continue as we rely on battery-energy storage to meet longer load durations and move into and through the role of traditional peakers. Lots more to come in 2024!
Melbourne Renewable Energy Hub raises $400M in landmark debt financing for Victorian Battery Energy Storage System. Melbourne Renewable Energy Hub (MREH), co-owned by Equis Australia and SEC Victoria, has closed the largest non-recourse debt financing package for an Australian grid-scale battery energy storage system (BESS), raising $400m from a debt syndicate comprising Export Development Canada | Exportation et développement Canada, Societe Generale, Standard Chartered and Westpac. This is a landmark debt transaction as the first financial close of a 4-hour BESS in Australia’s National Electricity Market (NEM), which will deliver a significant state-wide contribution to energy storage and the transition to renewable energy in Victoria. We would like to extend our gratitude to all of those involved during the process. Media Release: https://lnkd.in/g5JBwhve
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Equis Australia and Victoria’s State Electricity Company (SEC) have secured a $400 million non-recourse debt financing package for a grid-scale battery energy storage system (BESS). The two companies hailed the ‘landmark debt transaction’ as the first financial close of a 4-hour BESS in Australia’s National Electricity Market (NEM). The Melbourne Renewable Energy Hub (MREH), co-owned by Equis Australia and SEC, secured the debt package from a lending syndicate comprised of Export Development Canada | Exportation et développement Canada, Societe Generale, Standard Chartered, and Westpac (MREH Debt Financing). The MREH debt financing will finance the construction of the 200MW/800MWh BESS project which the SEC will be responsible for operating. With a total capacity of 600MW across three projects, including the operational MREH A3, the initiative stands as Australia’s most extensive BESS development upon completion. “We have found the equity partnership model to be a very effective vehicle for government industry collaboration to bring forward renewable energy projects,” said David Russell, co-founder and Managing Director of Equis. “We think this model should be considered by other state governments because it allows their investments to earn sustainable returns that can be reinvested in further renewable energy initiatives.” Russell added that Equis has a ‘strong pipeline of projects underway’ and has already completed 116 solar projects and 76 wind projects across eight Asia Pacific countries (including Australia) totalling 15.4GW for Equis Energy (now Vena Energy) and a further 2.2GW across other platforms. Equis is also currently developing over 60 renewable and waste-to-energy assets across Australia, Japan, and Korea. #cleanenergy
Equis Australia secures financing package for BESS project in Victoria
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PV funding activity increased by 42% year-on-year in 2023, driven by strong growth in private market financing and debt financing, despite a decrease in the total number of deals, according to Mercom Capital Group. #solar #technology #renewableenergy
Solar corporate funding hits decade-long high in 2023
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EQT Group-backed Statera Energy, an energy storage and flexible generation developer and operator, announced recently that it has secured up to £300m of debt financing through a syndicate led by Lloyds Banking Group. The initial £144m will fund Statera’s Thurrock Battery Energy Storage System (BESS), providing the UK with an additional 300MW of flexible storage capacity. Statera’s CEO and founder, Tom Vernon says, “Lloyds’ commitment to Statera, through one of the largest battery storage debt financing deals in the UK to date, is a testament to the quality of our projects. Our Thurrock BESS project is strategically located near Greater London, providing further energy system resilience to this key demand center.” These assets will help the UK build more renewable energy quickly by providing the flexible capacity needed to balance the future grid, whilst lowering carbon emissions and delivering the best value for energy users. #PEInsights #privateequity #investment #batteryenergystorage
EQT and Syndicate of Lenders Back Statera Energy with £300m Debt Financing | Private Equity Insights
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Today, Arevon Energy, Inc. announced the more than $1 billion financial close for the Eland 2 Solar-plus-Storage Project located in Kern County, California. The aggregate financing package includes a $431 million tax equity commitment from Wells Fargo. The $654 million of debt financing includes a construction-to-term loan, a tax equity bridge loan, and letter of credit facilities and was secured by CIBC, BNP Paribas, CoBank, Commerzbank AG, Commonwealth Bank, National Bank of Canada, and J.P. Morgan. When completed, Eland 2 and Eland 1, the project’s initial phase, will be one of the largest operating solar-plus-storage installations in the country. They are also amongst the largest hybrid power plants in Arevon’s portfolio – a combined total of 751 megawatts (MWdc) of solar electricity generation and 300 MW/1,200 megawatt hours of energy storage. Eland 2 follows Vikings and Condor as notable finance achievements by the Arevon team and our financial partners. Our CEO Kevin Smith remarked, “Hybrid power plants play an important role in our strategy, as predictable energy yield enables consistent returns across our diverse, multi-gigawatt portfolio. The Eland projects highlight our team’s financial strength, industry expertise, and thoughtful approach to fostering a sustainable energy infrastructure.” (Photo represents Eland 1)
Arevon Secures $1.1 Billion Financial Close for Eland 2 Solar-plus-Storage Project - Arevon
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