Refinancing for European Energy: Denmark-based renewable energy company European Energy says it has successfully refinanced and upsized its €292.5 million green senior bonds and €100 million green revolving credit facility (RCF) into a new €375 million green bond and €100 million green revolving credit facility. Both the green senior bond and RCF are part of the company’s new Green Finance Framework. The company stated, “The bond is one of the largest Nordic high-yield bonds to be issued on NASDAQ Nordic. With this refinancing, European Energy has secured a robust financial position to support its growth strategy going forward.”
Recurrent’s UK contracts: Canadian Solar’s US-based subsidiary Recurrent Energy says it has won contracts for difference (CfD) under allocation round 6 for 3 of its solar PV projects in the UK, representing a combined 120 MW capacity. It won these contracts for the Gateley Moor project in Durham and the Hessay project in York, both with 49.9 MW installed capacity each, and for the 20 MW Court Barton project in Devon. All these projects are expected to reach commercial operations by mid-2027, mid-2026, and mid-2025, respectively. The company will secure revenues for 15 years, indexed to inflation. The UK awarded more than 9.6 GW of renewable energy capacity under allocation round 6 (see United Kingdom Selects Over 9.6 GW RE Capacity For Allocation Round 6).
ZE Energy raises €54 million: French renewable energy producer with battery energy storage systems (BESS) ZE Energy has raised €54 million in a capital raise round led by Amundi Energy Transition. ZE Energy’s existing shareholder Sorégies has invested in the company again alongside other investors namely Marguerite, HTGF and ZE WAY INVEST. Amundi said the capital raise includes 2 new investors – Amundi managed Infrastructure FundsCore+, and The Climate Infrastructure Fund managed by Demeter. ZE Energy currently holds over a 1 GW project portfolio of solar PV and more than 400 MW of battery capacity. It will use the proceeds for its growth over the next 2 years, and expand in Europe. It aims to exceed 900 MW of PV and 600 MWh of storage in the operational and ready-to-build project portfolio by the end of 2026.
Galileo expands in France: Switzerland’s Galileo Clean Energy GmbH has acquired the large-scale renewable energy project development business of France’s onshore wind and solar PV company Quenea. This brings to Galileo about 140 MW of wind and PV projects portfolio and a team of about 30 sector experts. Quenea’s development team has developed around 300 MW of capacity to date. Galileo will strengthen its presence in France with this acquisition and help the development team expand its expertise in downstream and project implementation activities.
JinkoSolar’s Manchester project: Chinese solar PV manufacturer JinkoSolar is installing more than 10,500 of its Tiger Neo solar modules at the Manchester City Football Academy as part of its multi-year global partnership with the Manchester City Football Club announced in June 2024 (see Europe Solar PV News Snippets). This will enable the club to produce enough renewable energy to offset its annual power requirements. Installation of the solar panels will be completed in 2 phases. Under phase I, solar panels will be deployed on the rooftops of various buildings within the academy which should be completed by 2024-end. Under phase II, JinkoSolar will install thousands of ground-mounted panels throughout the training facility. This work is scheduled to be completed before the conclusion of the 2024/25 season. JinkoSolar said this project will see the club become one of the largest producers of renewable energy in the world of football. JinkoSolar’s Vice President Dany Qian said, “This project will support Man City's 2030 Net Zero goal and represents a major step in Jinko's mission to optimize energy portfolio and drive the energy transformation globally.”
Econergy’s 52 MW solar plant in Poland: Israel’s Econergy has sold a 49% equity stake in a 52 MW solar power plant in Poland to Phoenix Insurance. The latter has converted €4.2 million into a 49% stake in the project’s special purpose vehicle (SPV). The remaining loan will be converted into an unsecured shareholder loan, representing 49% of the total shareholder loans. The 52 MW Resko Project is Econergy’s 1st project in the country. To be built for around €41 million, it is scheduled to be connected by 2024-end.
Voltalia raises bank loan: France’s Voltalia has successfully increased the bank loan of €294 million it signed in July 2024, to now €324 million after a successful syndication. The syndication allowed Itau Bank, from Brazil, and the Standard Bank, from South Africa, to join the initial pool of 9 banks from Europe, the USA and Japan, it shared. This loan will contribute to the funding of future investments in renewable energy assets, and improve its financial flexibility, according to the management.
DAS Solar’s modules meet German standard: Chinese solar PV manufacturer DAS Solar says its n-type solar modules meet the rigorous requirement of the SMQS 90038-1 PV module quality standard that was jointly released by 10 German EPC companies affiliated with the VDE Association. This standard sets new quality requirements for nameplate parameters, module certification, reliability, cells, key encapsulation material performance parameters, shipment inspection, and ESG sustainability.