Financial & Legal

Independent power producer (IPP) Zelestra has closed a US$350 million credit facility for the 203 MW Reclamation Solar project in Indiana.

Bondada Engineering secures a US$119.3 million solar EPC order, while its subsidiary Onix IPP secures US$94.1 million in SBI financing.

US clean energy developer Clearway Energy has closed financing and started construction on a 650MW solar project in Missouri.

The refinancing deal will allow MaxSolar to build a portfolio of around 1.3GW of renewable energy capacity.

Germany’s vertical bifacial PV specialist Next2Sun has filed for the initiation of insolvency proceedings under self-administration for parts of the company.

Japanese trading company Sumitomo has invested in a utility-scale renewable energy park combining solar PV, wind and energy storage in India.

Enel has completed the acquisition of seven PV sites in the Southern US, via its wholly-owned subsidiary, Enel Green Power North America.

A round-up of the latest financing news from the US PV industry, with Maxwell Power, CleanChoice Energy and Lydian Energy securing a combined US$1.3 billion.

First Solar has filed a patent lawsuit against JA and some of its subsidiaries, as well as American Panel Solutions, a wholly-owned subsidiary of Corning.

Spanish energy and water infrastructure group Cox has secured financing for a 75.2MWp solar project in Guatemala.