Nautilus Solar Energy has renewed its construction debt facility with a total commitment of $600 million in US. The financing will support the construction of approximately 200 MW of community solar projects across Nautilus’s portfolio. Co-lead arrangers for the facility include National Bank of Canada Capital Markets, Royal Bank of Canada, and Export Development Canada.
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The US solar industry installed 7.8 GWdc of capacity in Q1 2026, a 27% decline from Q1 2025 and a 42% decline compared with Q4 2025. The residential segment installed 1,179 MWdc of solar capacity, increasing 6% year-over-year and declining 15% quarter-over-quarter. The commercial segment installed 523 MWdc, declining 4% year-over-year and 25% quarter-over-quarter. The community solar segment installed 247 MWdc, declining 4% year-over-year and 67% quarter-over-quarter. The utility-scale segment installed 5.9 GWdc, declining 34% year-over-year and 45% quarter-over-quarter.
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Acwa Power Philippines has signed a lease agreement with the Bases Conversion and Development Authority (BCDA) to develop a utility-scale solar and battery energy storage system (BESS) project in New Clark City. The project is expected to reach up to 500 MW of solar PV and battery storage capacity upon full development, subject to regulatory approvals and future expansion phases.
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RWE and Meta have signed a long-term power purchase agreement (PPA) for the 298 MWac Rabbit’s Foot Solar project in Bowie County, Texas. The project is currently under construction and is expected to commence commercial operations by the end of 2027. Once operational, the facility will supply clean electricity to support Meta’s commitment to matching its operations with 100 percent renewable energy.
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Masdar has agreed to acquire a 49.99 percent stake in Repsol’s 705 MW renewable energy portfolio in Spain in a deal valuing the assets at €849 million. The portfolio comprises 13 wind farms with a combined capacity of 402 MW and 6 solar parks totaling 303 MW, all of which became operational in 2025 and the first quarter of 2026. It also includes a pipeline of more than 565 MW of potential hybrid projects involving wind, solar and battery storage.
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Plenitude has completed and fully commissioned the 330 MW Renopool solar project in Extremadura, Spain, following the start of operations at the second 200 MW block of the facility. The project comprises a 130 MW northern plant and a 200 MW southern plant. Furthermore, the project features approximately 565,000 bifacial modules. Once fully operational, the project is expected to generate around 670 GWh of electricity annually.
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MN8 Energy has commissioned two utility-scale solar projects totaling 260 MWac of capacity. These projects have long-term power purchase agreements (PPAs) with Microsoft. The projects include the 120 MW Long Point solar project in Texas and the 140 MW American Beech project in North Carolina. The Long Point project supplies renewable power to ERCOT’s Houston load zone, while American Beech supplies renewable power into the PJM market.
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Novar and Westermeerweg Zon Holding have reached financial close for the 148 MWp Westermeerdijk Solar Park in the Netherlands. The project is situated beneath existing wind turbines and also benefits from grid connection to the Netaansluiting Noordwest Zon substation. The project ownership will be split equally between Novar and Westermeerweg Zon Holding.
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Foxconn and Brookfield have partnered to develop renewable energy projects in Vietnam to support Foxconn’s operations and supply chain partners. The collaboration aims to develop up to 1 GW of utility-scale wind, solar, and battery storage capacity across the country. The projects will be backed by long-term power purchase agreements and jointly managed by both companies.
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Revolve Renewable Power has signed agreements to acquire three utility-scale solar development-stage projects totaling 125 MW across Illinois (30 MW), New Mexico (56 MW), and Wisconsin (39 MW). The acquisition, expected to close in June 2026, will be completed through the company’s wholly owned US subsidiary. The deal structure includes a development fee of $0.02/W at construction notice and deferred consideration tied to project value realization.
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The European Bank for Reconstruction and Development (EBRD) is providing a €175 million loan to Public Power Corporation (PPC) to support renewable energy development across Bulgaria, Greece, and Romania. The financing will help develop approximately 400 MW of new wind and solar capacity across the three countries. The financing is backed by the EU-supported InvestEU.
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Lightsource bp has commenced construction of the Lower Wonga hybrid renewable energy project located near Gympie, Queensland. The project comprises a 380 MWdc solar farm with a 281 MW/843 MWh battery energy storage system (BESS). The project will commence operations in late 2028. A joint venture between INTEC Energy Solutions and Gotion Hi-Tech Australia will deliver the project.
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Qualitas Energy has acquired a 164 MWp solar PV project in Illinois, US. The project, purchased from Bechtel Enterprises, is located within the Midcontinent Independent System Operator (MISO) electricity market. The project is expected to reach notice to proceed in the second quarter of 2028, with commercial operations commencing in the third quarter of 2029. The project has secured 100 per cent site control and other permits.
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Vesper Energy has closed $236 million in financing for the Nazareth Solar project. The project has an installed capacity of 201 MW and is located in Swisher County, Texas. The financing package includes a construction-to-term loan and a letter of credit facility, provided by MUFG, Associated Bank, Bayern LB, and Development Bank of Japan. The project construction is scheduled to commence in June 2026, with commercial operations targeted for Fall 2027.
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Levanta Renewables has achieved financial close and issued the notice to proceed for the Barotac solar and battery energy storage system (BESS) project located in the Visayas, Philippines. The project comprises a 166 MWp ground-mounted solar PV facility along with an 80 MWh BESS. The project was awarded a power purchase agreement under the Philippines’ Green Energy Auction Program Round 4.
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Recurrent Energy, subsidiary of Canadian Solar, has inaugurated the Rey Solar solar project in Carmona, Spain. The project has an installed capacity of more than 420 MWp. The project started commercial operations in December 2025. The project is expected to generate approximately 916,000 MWh of clean electricity, sufficient to power over 275,000 homes annually.
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Avangrid has completed construction of the 166 MWdc/120 MWac Tower Solar project in Morrow County, Oregon and has connected the facility to the regional electricity grid. Commercial operations for the project are expected to begin in summer 2026. The project features more than 250,000 solar panels assembled by SEG Solar at its Houston manufacturing facility.
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SEG Solar has announced plans to build a 4.6 GW solar module manufacturing facility in Greater Houston, Texas. The facility will increase SEG’s US solar module manufacturing capacity to 10.6 GW and will support next-generation heterojunction (HJT) solar module production. The facility’s construction is expected to be completed by March 2027 with commercial operations commencing in May 2027.
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EDF Power Solutions North America has signed a 30-year power purchase agreement (PPA) with the Southern California Public Power Authority for the Utah Solar 1 Energy project in California. The project will deliver power to the Los Angeles Department of Water and Power from a 300 MWac solar facility in Millard County, Utah. Commercial operations for the project are expected to commence in mid-2027.
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GCL System Integration (GCL SI) has signed an MoU with Getz Energy for the supply of up to 1 GW of solar modules over the next three years to support Thailand’s renewable energy expansion. Under the agreement, GCL SI will provide solar modules and battery energy storage systems for large-scale and hybrid solar projects. Solar module and BESS deliveries will be phased in line with project construction and grid connection schedules.
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