亚博体育官网首页

Strata Clean Energy Secures $559M for Energy Storage Complex
POWER & RENEWABLE ENERGY

Strata Clean Energy Secures $559M for Energy Storage Complex

In a significant push for renewable energy initiatives, several prominent project developers have secured substantial financing totaling over $2 billion for various clean energy projects across the globe.

Strata Clean Energy, a leading developer, owner, and operator of renewable energy projects, announced the successful procurement of $559 million in financing for its Scatter Wash energy storage complex. The project, with a capacity of 255 MW/1,020 MWh, commenced construction on January 18 and is slated for operational status by April 2025. Financial institutions collaborated to provide the necessary funding, with J.P. Morgan and Nomura serving as Coordinating Lead Arrangers and Joint Bookrunners.

Matrix Renewables, backed by TPG Rise, secured $283 million in construction-to-term loan financing for a 260 MW solar project in Idaho. Additionally, the company finalized a production tax credit transfer agreement. MUFG led the debt transaction as a coordinated lead arranger, with support from other institutions including HSBC, SMBC, National Bank of Canada, Commonwealth Bank of Australia, and Mizuho.

Arevon Energy achieved a significant milestone by securing over $1 billion in aggregate funding commitments for its Eland 2 Solar-plus-Storage Project in Kern County, California. The project, comprising a 374 MWdc solar component coupled with 150 MW/600 MWh of energy storage, is currently in early-stage construction, aiming for commercial operations in Q1 2025. Funding includes a $431 million tax equity commitment from Wells Fargo and $654 million in debt funding.

TagEnergy, focusing on competitive generation and storage assets, closed financial arrangements for the Pitkevy facility in Fife, Scotland, with a non-recourse green loan package of up to ?70 million (~$88.35 million). Lenders Santander UK, Rabobank, and Triple Point provided the financing on a full merchant basis.

NorthRenew Energy announced the sale of its Arco wind and solar project in Idaho to PacifiCorp, with construction set to begin in 2025 and commercial operations planned for late 2026. The project boasts a total capacity of over 300 MW and spans Bingham and Bonneville counties.

Highfield Solar secured a Rs.65 million (~$70.45 million) debt facility for its Gaskinstown solar project in Ireland, following its Rathnaskilloge project in December 2023. Co'peratieve Rabobank U.A. provided the financing for the 93 MW project located near Duleek village in Meath County.

These financing milestones underscore the growing momentum in renewable energy development, signaling a promising outlook for clean energy adoption and sustainability initiatives globally.

In a significant push for renewable energy initiatives, several prominent project developers have secured substantial financing totaling over $2 billion for various clean energy projects across the globe. Strata Clean Energy, a leading developer, owner, and operator of renewable energy projects, announced the successful procurement of $559 million in financing for its Scatter Wash energy storage complex. The project, with a capacity of 255 MW/1,020 MWh, commenced construction on January 18 and is slated for operational status by April 2025. Financial institutions collaborated to provide the necessary funding, with J.P. Morgan and Nomura serving as Coordinating Lead Arrangers and Joint Bookrunners. Matrix Renewables, backed by TPG Rise, secured $283 million in construction-to-term loan financing for a 260 MW solar project in Idaho. Additionally, the company finalized a production tax credit transfer agreement. MUFG led the debt transaction as a coordinated lead arranger, with support from other institutions including HSBC, SMBC, National Bank of Canada, Commonwealth Bank of Australia, and Mizuho. Arevon Energy achieved a significant milestone by securing over $1 billion in aggregate funding commitments for its Eland 2 Solar-plus-Storage Project in Kern County, California. The project, comprising a 374 MWdc solar component coupled with 150 MW/600 MWh of energy storage, is currently in early-stage construction, aiming for commercial operations in Q1 2025. Funding includes a $431 million tax equity commitment from Wells Fargo and $654 million in debt funding. TagEnergy, focusing on competitive generation and storage assets, closed financial arrangements for the Pitkevy facility in Fife, Scotland, with a non-recourse green loan package of up to ?70 million (~$88.35 million). Lenders Santander UK, Rabobank, and Triple Point provided the financing on a full merchant basis. NorthRenew Energy announced the sale of its Arco wind and solar project in Idaho to PacifiCorp, with construction set to begin in 2025 and commercial operations planned for late 2026. The project boasts a total capacity of over 300 MW and spans Bingham and Bonneville counties. Highfield Solar secured a Rs.65 million (~$70.45 million) debt facility for its Gaskinstown solar project in Ireland, following its Rathnaskilloge project in December 2023. Co'peratieve Rabobank U.A. provided the financing for the 93 MW project located near Duleek village in Meath County. These financing milestones underscore the growing momentum in renewable energy development, signaling a promising outlook for clean energy adoption and sustainability initiatives globally.

Next Story
Real Estate

Kolkata鈥檚 luxury housing market sees price growth amid mixed trends

A new study by Nklusive reveals that Kolkata鈥檚 luxury residential market (Rs 5鈥�10 crore) recorded a 33 per cent year-on-year rise in supply and a 52 per cent increase in sales in calendar year 2024 (CY24). South Kolkata led with 78 per cent of the segment鈥檚 supply. The average price rose by 6 per cent鈥攆rom Rs 17,519 to Rs 18,600 per sq ft鈥攚hile unsold inventory grew by 15 per cent. Monthly absorption improved from 2 to 3 units.In contrast, the ultra-luxury segment (Rs 10 crore and above) experienced a 17 per cent decline in supply and a 30 per cent fall in sales. Central Kolkata acco..

Next Story
Infrastructure Transport

New Expressway to Cut Pune-Bengaluru Travel Time by Half

The upcoming Pune-Bengaluru Expressway is expected to significantly improve connectivity and economic opportunities across Maharashtra and Karnataka. This 700-kilometre greenfield, access-controlled highway will cut the travel time between Pune and Bengaluru from 15 hours to just 7 hours, facilitating easier movement for both commuters and businesses. Starting from Bommanal in Karnataka鈥檚 Athani Taluk, the expressway will traverse important districts such as Belagavi, Bagalkot, and Jamakhandi. It will then enter Maharashtra at Kanjle, connect with the proposed Pune Ring Road, and pass throug..

Next Story
Infrastructure Transport

Nagpur鈥檚 Koradi Naka to Get Y-Shaped Flyover for Safer, Smoother Traffic

To alleviate traffic congestion and enhance safety at Koradi Naka in Nagpur, a Y-shaped flyover is currently being constructed on National Highway 47. Demolition work has already commenced, with the main construction scheduled to start on June 20, 2025.The project, costing Rs 430.37 billion, involves building a 1,090-meter-long flyover that will connect Farsa, the Mahadula Railway Overbridge (ROB), and Bokhara Road, and will also feature an underpass. The existing structure will be repurposed into a service road to facilitate local traffic.Koradi Naka has been identified as a significant "blac..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement