Imerys and Akuo have inked a power purchase agreement (PPA) for the supply of renewable electricity in US. The inked agreement will allow Akuo to construct a photovoltaic solar power plant. The solar plant will have an installed capacity of approximately 195 MW, including 57 MW dedicated to Imerys’ operations. The plant is located in Coke County, Texas, and is capable of producing 153 GWh of electricity per year.
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The California Energy Commission (CEC) has approved the Darden Clean Energy Project under the state’s Opt-In Certification program. The project will be built in western Fresno County, California. It consists of a 1,150 MW solar facility and up to 1,150 MW (4,600 MWh) of battery storage. The Opt-In Certification program provides a consolidated state permitting option for eligible clean energy projects.
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Dimension Energy has secured a $360 million construction and term financing for a new 112 MWdc portfolio. The portfolio consists of 28 community solar projects in the states of New Jersey, Illinois, Delaware, Virginia, Maine, and Pennsylvania in US. First Citizens Bank acted as lead debt syndicator, along with ING, MUFG, National Bank of Canada, Siemens, Cadence, and Comerica. Additionally, Advantage Capital provided $170 million in tax equity.
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Scale Microgrids has closed $275 million in new project financing, bringing the total financing raised by the company to over $1 billion. The financing will support 140 MW of distributed generation projects, including the company’s community-scale solar and storage and battery storage installations. The projects are spread across US in New York, Pennsylvania, New Jersey, Connecticut, and California.
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DESRI has achieved financial notice to proceed, and it has commenced construction of the Catclaw solar and storage project situated in Buckeye, Arizona. The Catclaw project is a 205 MWac solar facility with a 1,000 MWh storage system. DESRI purchased the project from Avantus in 2024. BNP Paribas and Norddeutsche Landesbank Girozentrale served as coordinating lead arrangers.
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Zelestra has commenced commercial operations at the San Martín solar plant in Perú. The solar plant has a capacity of 300 MWdc and is led by Zelestra’s internal engineering, procurement, and construction (EPC) division. The solar plant comprises 450,000 modules and will generate over 830 GWh of clean energy annually. The solar project supplies clean energy to its customer, Kallpa Generación, through a long-term power purchase agreement.
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Earthrise Energy has secured close of a $630 million debt financing for the Gibson City Solar project. The project has a capacity of 270 MWac and is situated within Illinois’ MISO power market. The debt financing consists of a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility. Marathon Capital acted as the financial advisor to Earthrise Energy on the overall transaction.
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Soltage has secured the closing of a $260 million construction and term debt financing facility. The financing will aid the near-term deployment of solar and storage projects from Soltage’s development pipeline of over 2 GW across US. The financing structure comprises a revolving construction loan, tax equity bridge loan, and a term loan facility. The facility was structured and led by the National Bank of Canada, alongside First Citizens Bank.
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Origis Energy has secured the financial closing of the Wheatland solar project with MUFG. The portfolio financing package of over $530 million supports two projects of Origis Energy. The first is the Wheatland Solar project, which will provide 150 MWac of solar capacity. It is situated in Knox County, Indiana, and is slated for completion in the first half of 2026. Additionally, it is supported by a power purchase agreement (PPA) with CenterPoint Energy.
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Onyx Renewables has secured the closing of a $260 million credit facility. The credit facility will be used to support the growth of the company’s portfolio of distributed energy projects across US. The facility comprises a term loan, revolving line of credit, and a $10 million letter of credit facility that will directly support the ongoing construction and operation of Onyx Renewables’ clean energy infrastructure projects, including onsite solar PV and battery storage.
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Invenergy has commenced operations of the Hardin III solar energy center. The project has a capacity of 250 MW and is situated in Hardin County, Ohio. WEC Energy Group is the majority owner of the solar facility. Additionally, Microsoft will purchase the electricity and renewable energy credits generated at the facility through a power purchase agreement. The solar facility is expected to generate $180 million of new investment in Hardin County.
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Enfinity Global has sold 49 per cent stake in two battery energy storage system (BESS) projects to Daiwa Energy & Infrastructure Ltd. (DEI). The projects have a total capacity of 380 MW. Enfinity Global will retain a 51 per cent controlling stake and will complete the development, construction, and serve as the long-term asset manager for the two projects. The first project is a 250 MW BESS with a two-hour duration and 500 MWh capacity.
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Avangrid has achieved commercial operations of the Powell Creek Solar project in Putnam County, Ohio. The project has a capacity of 202 MWdc (150 MWac) and is capable of generating electricity to power the equivalent of 30,000 homes annually. The project consists of over 300,000 solar panels and reached commercial operation in April. Furthermore, the project is anticipated to contribute an estimated $31 million to local taxing jurisdictions over its lifetime.
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Innergex Renewable Energy (Innergex) and Mi’gmawei Mawiomi Business Corporation (MMBC) have reached financial close for the construction and operation of the Mesgi’g Ugju’s’n 2 wind project in Quebec. The wind project has a capacity of 102 MW. The wind project is located in MRC d’Avignon and is an extension of the existing 150 MW Mesgi’g Ugju’s’n wind facility, which was commissioned in 2016. The project is expected to be commissioned in 2026.
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Arevon Energy has secured a $98 million tax equity commitment for its Ratts 1 and Heirloom solar projects. The tax equity commitment has been secured from Fifth Third Bank. The projects will add 265 MW of new domestic energy to Pike County, Indiana. Ratts 1 solar project has a capacity of 192 MWdc, and the Heirloom solar project has a capacity of 73 MWdc. The projects are expected to be fully operational later in 2025.
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ACCIONA Energía has started commercial operations at the Forty Mile wind farm. The project has a capacity of 280 MW and is situated in Alberta, Canada. The wind farm features 49 Nordex turbines, each with a capacity of 5.7 MW and a tower height of 108 meters. The project is expected to contribute over €85 million in property tax revenues over its lifetime. Furthermore, the project will reduce carbon emissions by 6,00,000 metric tonnes per year.
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OCI Energy, CPS Energy, and LG Energy Solution Vertech, which is the US energy storage division of LG Energy Solutions, have inked a memorandum of understanding (MoU) for the Alamo City battery energy storage system (BESS) project. The project has a capacity of 120 MW/480 MWh and is currently under development in Bexar County, Texas. OCI Energy is the project developer. The project is expected to reach commercial operation in 2027.
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Energy Estate has entered the US market with the acquisition of the San Luis Industrial Complex (SLIC) from San Luis Renewables and Our Energy, the co-developers of the project. SLIC is slated to receive funding through a $12.6 billion public-private partnership, the Alliance for Renewable Clean Hydrogen Energy Systems (ARCHES). ARCHES is California’s initiative to accelerate renewable hydrogen projects and infrastructure.
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Deriva Energy has completed $127 million debt financing for a portfolio of currently operational energy assets. The portfolio received senior secured notes from Principal Asset Management and MetLife Investment Management. The portfolio comprises the Ledyard Wind and Pisgah Ridge Solar projects, both owned and operated by Deriva Energy. The projects began commercial operations in 2022.
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Sungrow has inked an agreement with Zelestra to provide battery storage technology for a battery energy storage system (BESS) project being delivered in Latin America. Under the agreement, Sungrow will provide its PowerTitan 2.0 liquid-cooled BESS and its MV power conversion units for the BESS project with a storage capacity of 1 GWh. The project forms part of the hybrid Aurora scheme in Tarapacá, Chile, which is currently under construction.
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