SOLAR INVESTMENTS - FROM FUNDINGS TO PARTNERSHIPS & ACQUISITIONS: WEEK 36

$10 million for Sub-Saharan Africa; 49.9 MW solar project changes hands in the UK; AIKO Energy partners for solar in South Africa.?All these and more such stories in TaiyangNews Solar Investment Newsletter.

This is a weekly newsletter to keep you updated on the latest developments in solar investments, including mergers and acquisitions, joint ventures, public offerings within the solar industry. These are select stories that have been published on our website. Subscribe to weekly updates for the top stories from TaiyangNews - All About Solar . Visit https://taiyangnews.info/ for all the news on solar.

Also, do not miss our #upcomingevent: RE+ Conference: How to Manufacture Solar Wafers, Cells and Modules Competitively in the United States on #September9 in Anaheim, USA. #RegisterNow

#SolarPV #Solar #SolarAcquisitions #SolarMergers #SolarJointVenture

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Sunly raises €300 Million for 1.3 GW renewable energy capacity; 49.9 MW solar project changes hands in the UK; AIKO partners for solar in South Africa.?All these and more such stories in TaiyangNews - All About Solar Investment Newsletter.

This is a weekly newsletter to keep you updated on the latest developments in solar investments, including mergers and acquisitions, joint ventures, public offerings within the solar industry. These are select stories that have been published on our website. Subscribe to weekly updates for the top stories from TaiyangNews. Visit https://taiyangnews.info/ for all the news on solar.

Also, do not miss our #upcomingevent: RE+ Conference: How to Manufacture Solar Wafers, Cells and Modules Competitively in the United States on #September9 in Anaheim, USA. #RegisterNow

#SolarPV #Solar #SolarAcquisitions #SolarMergers #SolarJointVenture

FUNDINGS

Sunly raises €300 Million for 1.3 GW renewable energy capacity: Estonian renewable energy producer Sunly has raised a €300 million debt financing to accelerate the construction of its 1.3 GW solar, wind, storage and hybrid parks located across the Baltics and Poland. The financing package comes from French investor Rivage Investment via its 2nd high yield infrastructure debt fund REDI HR2, and its Fund for Infrastructure Climate Solutions. Another contributor to the proceeds is Copenhagen Infrastructure Partners’ (CIP) Green Credit Fund I and Norway’s largest pension company Kommunal Landspensjonskasse (KLP) through funds managed by CIP. For the complete story, click here .

€500 million for Enfinity Global’s GW-scale Italian solar pipeline: US-based renewable energy company Enfinity Global has achieved financial close for a €500 million financing to support the development and construction of a 1.5 GW solar PV assets pipeline in Italy. The financing comes with an accordion feature that would allow Enfinity to upsize it to €800 million. The financing has been arranged from a consortium of lenders including Infranity, Schroders Capital, Rivage, BNP Paribas Asset Management and QIC (Queensland Investment Corporation) under an innovative club deal structure. For the complete story, click here .

$10 million for Sub-Saharan Africa: The African Development Bank (AfDB) approved a $10 million junior equity investment in the KawiSafi II Fund that focuses on decentralized energy solutions in Sub-Saharan Africa. Based out of the Kenyan capital of Nairobi, KawiSafi’s KawiSafi II is a $200 million venture equity fund to address investment gaps in energy transition, productivity, mobility, and logistics. This AfDB investment comes through the Sustainable Energy Fund for Africa (SEFA). It said the KawiSafi II Fund will help local businesses create and expand climate projects that aid vulnerable communities. ??

BRL 267.2 million for RE in Brazil: The Superintendence for the Development of the Northeast (Sudene) in Brazil has approved BRL 267.2 million ($48.5 million) from the Northeast Development Fund to invest in wind and solar energy generation projects. These 4 facilities are located in the states of Pernambuco and Rio Grande do Norte. The funds will be distributed for Elawan Energy’s 52 MW Santana dos Matos project, EDP Renováveis do Brasil’s 41.8 MW Monte Verde Solar II SA PV Power Plant and 40.2 MW Monte Verde Solar III SA project, and the 30 MW UFV Serrita II project of Elecnor Group as part of the Serrita Solar Complex. ?

PPAs

RE PPA in Zambia: Metals producer Jubilee Metals Group has signed a 3-year renewable energy power purchase agreement (PPA) with independent hydro and solar power producer Lunsemfwa Hydro Power Company (LHPC). The PPA will ensure that the total power supply needs of Jubilee’s Roan and Sable operations in Zambia will be continuously met at competitive rates to the prevailing power tariffs, starting from September 1, 2024. Additionally, Jubilee said it gets the option to secure a further 10 MW of solar-generated power, discounted by more than 30% below the initial PPA power rates. This secures its future power demands to meet its expanding operational footprint. The additional power allocation of 10 MW has the potential to be scaled further. Jubilee CEO Leon Coetzer said that this ensures that its immediate power demands for the operational expansion targeting 25,000 tons of annual copper processing capacity will be met.

49.9 MW solar project changes hands in the UK: Lightsource bp has completed its largest solar project in the UK with 49.9 MW capacity, with a co-located 25 MW/50 MWh (2-hour duration) storage system. It has now also sold it off to renewable investment manager Schroders Greencoat. The Tiln Farm near Retford in Nottinghamshire is contracted under a long-term power purchase agreement (PPA) with building products manufacturer Forterra to help cover 70% of its electricity needs across 17 sites, for 15 years. Lightsource said this sale is part of the group’s long-term growth strategy to further expand its investment profile across a greater number of projects. It will continue to provide asset management, and operations and maintenance (O&M) services for the Tiln project.??

ACQUISITIONS

GreenYellow sells portfolio: France’s GreenYellow has sold off its portfolio of 3 operational rooftop solar power plants in Senegal to Afreenergy Solar. A subsidiary of independent power producer (IPP) Afreenergy, Afreenergy Solar will take over GreenYellow’s 2.6 MW PV portfolio that covers the electricity needs of leading commercial and industrial (C&I) customers through self-consumption. It sees this acquisition as a new stage in its growth to become a leading independent producer of renewable energy in Africa. Afreenergy currently has a portfolio of more than 320 MW of solar, storage and hydro assets at various stages of development, construction and operation in 12 African nations. For GreenYellow, this divestment is aligned with its overall strategy to geographically focus on Europe.??

Nofar’s Romanian acquisition: Israel’s Nofar Energy has signed an acquisition agreement for 100% shares in Aviv Renewable Investment, a project company developing a 160 MW solar PV park in Giurgiu County of Romania, stated law firm Clifford Chance Badea that advised Nofar on this acquisition.??

PARTNERSHIPS

AIKO partners for solar in South Africa: China-headquartered solar PV manufacturer AIKO has entered a new partnership with VEERS GROUP of South Africa. The duo calls this a ‘groundbreaking joint venture’ (JV) that will ‘revolutionize’ the utility-scale and distributed solar sectors across the country. They will focus on advancing such projects leveraging AIKO’s n-type ABC solar modules, and expand the distribution footprint in the continent through Aiko Energy SA (Pty) Ltd as the operational arm of the JV. Through this, they plan to make high-efficiency solar technologies widely accessible across utility-scale, commercial, industrial, and residential sectors. ? ?

PV CYCLE expands to Brazil: Belgium-headquartered solar panel recycling company PV CYCLE has announced a partnership with Brazilian PV technology recycler SunR. Under the partnership, PV CYCLE will finance SunR’s expansion in Brazil and the rest of the Latin American region to cater to both their customers. This will lead to SunR realizing its 3rd fab in northeastern Brazil. It already operates 2 fabs in Valinhos and Montes Claros. PV CYCLE CEO Jan Clyncke said the Brazilian market with a 46 GW installed solar PV capacity is the natural choice for its expansion.?