PROJECT ROUND-UP: Grenergy secures financing for Chile assets; ReneSola sells 12.3MW Hungarian portfolio

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
A solar site connected by Grenergy in Chile in 2017. Image: Grenergy

A round-up of the latest news in solar project development, as Grenergy secures €70 million for Chile farms, ReneSola sells a 12.3MW portfolio and Bluefield Solar Income Fund boosts its portfolio witha 70MWp acquisition.

 

Grenergy agrees financing for 14 new solar farms in Chile

11 January: Spanish solar firm Grenergy has agreed with Natixis the €70 million (US$85 million) financing of 14 new solar projects in Chile.

The plants will have an installed capacity of up to 9MW and will sell their electricity at a regulated price at national level, having been developed under the Chilean PMG and PMGD regime. Together, they will total 130MW and have an estimated annual production of 311GWh.

Construction is already underway on the first two plants – Mitchi and Condor.

Grenergy has a pipeline of 2.6GW in the country, with its operations headquarters for the Southern Cone being located in Santiago de Chile.

David Ruiz de Andrés, Grenergy's CEO, said the closing of financing for the projects demonstrates the company’s “strong commitment” to the country and meets the strategic objective of putting the assets into operation this year.

 

ReneSola sells 12.3MW Hungarian portfolio

8 January: ReneSola has entered into an agreement to sell a 12.3MW portfolio of projects in Hungary to Obton.

The portfolio is made up of 20 solar plants in five locations – including Sárbogárd, Kömlöd, Szajol, Lukacshaza, and Törökszentmiklós – all of which were connected to the grid in 2020 and are qualified under the Hungarian 25-year KAT feed-in tariff scheme.

ReneSola Power CEO, Yumin Liu, said Hungary remains an “important market for solar power in the EU”, adding that the transaction “further strengthens ReneSola Power's market position in the country”.

Earlier this week, ReneSola announced a registered direct offering with expected gross profits of US$40 million, which it plans to use to expand its pipeline.

 

Bluefield makes 70MWp acquisition

11 January: UK-based Bluefield Solar Income Fund has splashed £89 million on an operational 70MWp asset in Wiltshire, UK.

The Bradenstoke Solar Park – which was built in early 2015 on a former Royal Air Force airbase – is accredited under the UK's Renewable Obligation Certificate (ROC) regime, and is to start generating revenue for Bluefield from 1 April this year.

The company used its revolving credit facility, which has been both extended to September 2022 and raised to £100 million, to finance the acquisition, which John Rennocks, chairman of Bluefield, praised as being “evidence of our ability to source attractive assets with high levels of regulated revenues”.

The solar investor currently oversees a total installed capacity of 612MWp, which is made of UK solar assets with “high levels” of government-backed revenue streams, according to a statement. This latest acquisition has brought its outstanding debt to £370.4 million, including debt that was accrued from the purchase of a 64.2MWp solar portfolio last August.

 

Additional reporting by Edith Hancock.

Read Next

May 11, 2021
Spain’s Solarpack was affected by pandemic-related project delays in Chile during a first quarter, in which it saw its net profit shrink 95% year-on-year to €300,000.
May 10, 2021
Solar developer ReneSola Power has established a joint venture with asset management firm Eiffel Investment Group to finance its current European project pipeline.
May 5, 2021
Europe’s solar industry has lauded the inclusion of a commitment to "re-ignite" Europe's solar manufacturing sector within the European Commission’s refreshed industrial strategy.
PV Tech Premium
May 3, 2021
Companies are purchasing solar, wind, and other forms of renewable energy more than ever before. The power purchase agreement (PPA) market in Europe has grown to a cumulative capacity of over 12GW, with a record 4GW signed in 2020. Corporate climate commitments are opening doors for investment in renewable energy, and continued price declines are convincing companies to sign new contracts. Is the European market ready to fulfil its potential? By Dr. Mercè Labordena, senior policy advisor at SolarPower Europe, and Milena Koot, communications advisor at SolarPower Europe
April 29, 2021
French utility Engie has doubled its renewables deployment targets in Chile as part of plans to end its coal-fired generation activities in the country by 2025.
April 28, 2021
Renewable energy group BayWa r.e. has opened what it claims is its largest PV warehouse in Europe yet in a bid to expand its distribution network in the continent.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
May 11, 2021
Upcoming Webinars
May 26, 2021
Session 1 - 7:00 AM (BST) | Session 2 - 5:00 PM (BST)
Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021