EIB Global, the international partnerships and development arm of the European Investment Bank, and Enel Colombia S.A., part of the Enel Group, have announced a loan of up to $200 million to finance two solar projects in the Atlántico region in Colombia. The two projects, Guayepo III and Atlántico, have a capacity of 180 MWac each, and are currently under construction.
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Enlight Renewable Energy has finalised a $1.44 billion debt financing arrangement for its Snowflake A project located near Holbrook, Arizona. The project comprises 600 MW of solar generation with 1,900 MWh of energy storage capacity. It is scheduled to commence commercial operations in the second half of 2027. The project has a 20-year busbar power purchase and energy storage agreement with Arizona Public Service.
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N-Sun Energy, the investment platform established by Alantra and Solarig, has secured €355 million in green financing, structured under a holdco format, from Intesa Sanpaolo to support the development and construction of a 275 MWp portfolio comprising five solar plants in Italy. Additionally, the platform has finalised a €50 million corporate financing facility with Bankinter, backed by CESCE.
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JA Solar has entered into a module supply agreement with Larsen & Toubro (L&T) for the Samarkand 1 and 2 solar power projects in Uzbekistan. Under the agreement, the company will provide all photovoltaic modules required for the two utility-scale projects. The projects are being developed by ACWA Power, with L&T serving as the engineering, procurement, and construction contractor.
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European Commission should develop an EU-wide definition and support MS in defining the agrisolar on the national level. Providing a clear definition of agrisolar, which refers to the dual use of land concept, is critical to ensure clarity for farmers, developers and authorities. The NextGeneration EU funds, allocated to the European Investment Bank (EIB) and national public banks, should support the de-risking of innovative renewable projects, including agrisolar.
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Clearway Energy Group has signed a 20-year power purchase agreement (PPA) and a 20-year energy storage agreement with the Public Utility District No. 2 of Grant County (Grant PUD) for the Royal Slope Energy Center project. The project is located in Grant County, Washington and comprises a 260 MW solar plant and a 260 MW battery energy storage system. It is expected to reach commercial operation by the end of 2027.
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Photovoltaics is a fast-growing market: The Compound Annual Growth Rate (CAGR) of cumulative PV installations was about 27% between the years 2014 and 2024. Wafer size increased. Keeping the same number of cells, larger PV module sizes are realized, allowing a power range of up to 750 W per module. In 2024, Europe’s contribution to the total cumulative PV installations amounted to 18%. In contrast, installations in China accounted for 48% (in 2023 43%) and in North America for 10% respectively.
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Enlight Renewable Energy has finalised a tax equity financing agreement worth nearly $150 million for its Quail Ranch project in New Mexico. The financing was arranged through Wells Fargo Bank under a structure that includes a contribution of $131 million after the project reaches commercial operation, which is expected to rise to nearly $150 million over the first 10 years through pay-go contributions.
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ContourGlobal has completed a $350 million renewable energy project financing in the US. The financing supports the company’s 324 MWp Black Hollow Sun solar project in Colorado, which comprises 185 MWp currently operational at the Black Hollow Sun I site and an additional 139 MWp under construction. This transaction includes both a tax equity component and a debt financing package.
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Treaty Oak Clean Energy has entered into long-term power purchase agreements (PPAs) with Meta for two utility-scale solar projects in Louisiana, with a combined capacity of 385 MWac. The two projects are the Beekman solar project in Morehouse Parish, which will supply 185 MWac of power, and the Hollis Creek solar project in Sabine Parish that will deliver 200 MWac.
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The European Bank for Reconstruction and Development (EBRD) has announced a financing package worth $142 million for two special-purpose vehicles (SPVs) developing a solar-plus-storage project in Uzbekistan. The project involves constructing 1,000 MW of solar photovoltaic capacity and 1,336 MWh of battery energy storage system (BESS) across two sites in the Samarkand and Bukhara regions.
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Excelsior Energy Capital has announced that the Faraday Solar project has reached operational readiness and commenced commercial operations. The project has an installed capacity of 685.3 MWdc and is located in Utah County, Utah. It has a 20-year power purchase agreement (PPA) with PacifiCorp. Meta will procure energy and environmental attributes from the project to provide clean energy to its operations in Utah.
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Meta has entered into a new power purchase agreement (PPA) with ENGIE to offtake the entire output from a 600 MW solar project in the US. The agreement pertains to ENGIE’s Swenson Ranch solar farm, located in Stonewall County, Texas, which is scheduled to be commissioned in 2027. Under the PPA, Meta will source 100 per cent of the electricity generated from the project to power its data center operations across US.
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The solar energy potential in Southeast Asia far exceeds its current deployment. The region boasts an estimated 16 TW of solar energy potential, yet as of 2023, only about 26 GW have been installed. To meet net zero targets, it is estimated that annual renewable energy capacity additions must increase sevenfold for solar energy, from an average of 5 GW per year between 2018 and 2021 to about 36 GW annually from 2030 to 2050. According to the AIMS III, 18 priority interconnection projects have been identified, aiming to increase the existing transmission capacity of 7.7 GW to 17.6 GW by 2040.
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Shanghai Electric has signed an agreement with Econergy Renewable Energy for the second phase of the 342 MW solar project in Parau, Romania. Once completed, the Parau Phase II project will supply clean power to both residential and commercial consumers. The Parau Phase II project follows the successful completion of the Parau Phase I 91.4 MW solar plant, which received its provisional acceptance in November 2024.
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Bridge Renewable Energy has closed an $80 million delayed draw term loan facility along with a $5 million revolving credit facility. The facility primarily includes a construction-to-term loan, along with provisions for preferred equity bridge and tax credit bridge loan capacity. The financing has been arranged in partnership with Investec Bank, with additional commitments from Amalgamated Bank and Farmer Mac.
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Leeward Renewable Energy (LRE) has completed construction and commenced commercial operations at the 177 MW Ridgely solar project in Lake County, Tennessee. The facility supplies power to the Tennessee Valley Authority under a long-term agreement aimed at meeting the growing electricity demand in the region. The project is expected to generate around Rs 250 million in property tax revenue over its operational life.
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Atlas Renewable Energy has closed a $475 million financing package for the Copiapó solar project, a hybrid solar and battery energy storage system (BESS) located in Chile’s Atacama region. The company collaborated with BBVA, Banco de Crédito e Inversiones (BCI), Crédit Agricole Corporate and Investment Bank (CACIB), Natixis Corporate and Investment Banking (Natixis CIB), SMBC, and Société Générale to secure the financing.
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METLEN has entered into a 10-year power purchase agreement (PPA) with ENGIE for the supply of power from six solar projects across the UK. The total capacity of the solar portfolio under the agreement is 235 MW, expected to deliver over 233 GWh of renewable electricity annually. The projects are being developed and implemented by METLEN’s M Renewables division.
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Jakson Green and Blueleaf Energy have secured financial close for their 840 MWp solar projects in Rajasthan, India. These projects are 280 MWp and 560 MWp ground-mounted solar plants, which form part of the 1 GWp Rajasthan solar portfolio. Furthermore, the portfolio is jointly owned by Blueleaf Energy and Jakson Green through its parent company, Jakson Limited.
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