€62 million from NextGenerationEU: Qualitas Energy has raised €62 million as capital commitment for its Qualitas Energy Credit Fund, which provides debt for renewable energy infrastructure for greenfield and brownfield projects, including solar and battery storage systems. The proceeds come from the Spanish Regional Resilience Fund’s Alternative Lending Instrument for Sustainable Development, which supports investments in energy transition and sustainability projects developed by small and medium-sized enterprises (SME) and mid-caps. The European Investment Fund (EIF) of the European Investment Bank (EIB) is implementing the operation using NextGenerationEU resources.
Funds raised for 190 MW in Romania: Norway’s Scatec will launch the construction of its 190 MW solar portfolio, Dobrun & Sadova, in Romania after achieving financial close for the project. Scatec says these are its maiden projects in the country to enter construction. Romanian electricity market operator Opcom is supporting these projects under a 15-year contract for difference (CfD) agreement as an offtaker for close to 70% of the estimated production. The remaining will be sold into the wholesale electricity market. It raised funds for the project from the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), and Banca Comercială Română (BCR). Scatec will own a 65% stake in the projects, while EPC company Defic Globe will hold the remaining 35%. Commercial operation is due in H2 2027.
272 MW changes hands in Ireland: Germany-based international solar development platform ib vogt has offloaded 272 MW utility-scale solar capacity in Ireland for an enterprise value of €230 million. The 3 projects with 94.7 MW, 107.7 MW, and 69.4 MW were developed by Highfield Solar under a joint venture with ib vogt. They are all secured under 15-year capacity contracts under Ireland’s Renewable Electricity Support Scheme (RESS) 2.
€70 million to support RE projects: ETIC Partners, the French private investment firm, has achieved 1st close for its Energy Transition Europe II fund, raising €70 million in capital commitments. This is ETIC’s 2nd fund that will finance renewable energy projects across Southern, Central, and Eastern Europe through junior debt instruments. It says 50% of the initial commitments are already deployed in France, Italy, Romania, and Hungary for over 330 MW of production capacity.
Financing secured: Hyperion Renewables, the Portugal-based renewable energy developer, has closed around €210 million in financing for its hybrid portfolio in the country. It will support Project Theia’s development, construction, operation, and refinancing. This project comprises close to 300 MW of solar, wind, and battery storage to a single grid connection point. Hyperion says 70% of production is already secured under long-term power purchase agreements (PPAs). Lenders of €175 million include the banking consortium of Santander Portugal, Banco Portugues de Fomento, Millennium bcp, and SMBC Group, while Eiffel Investment Group has provided €35 million holdco-level debt.
Draft grids plan in Germany: Germany is reportedly working on a Netzpaket program, which is aimed at easing and expanding grid infrastructure. According to various media reports, the government is likely to take away grid access priority for renewables as available under the Renewable Energy Act (EEG), which has so far been instrumental in ensuring bankability of such projects. The proposed reforms will also make renewable energy generators pay the grid operators for network connection and expansion expenses. In areas with a heavy grid bottleneck, renewable energy curtailment may not be compensated. If implemented, these measures could raise project costs as well as risks. The government is expected to seek public consultation on the proposed draft. Independent Senior Consultant Dr. Stefanie Groll has summarized the draft in a LinkedIn post.
€40 million for Metiundo: Octopus Energy Generation has invested €40 million in German smart metering systems company Metiundo under a Series A financing. For Metiundo, this investment will support the accelerated rollout of its smart metering systems. The company has installed over 21,000 smart meters so far. It will also help it further develop its software platform as it targets to contribute to the energy transition in the building sector, the company stated.