€70 million for 137 MW solar: Denmark-based renewable energy company European Energy has raised over €70 million ($124 million) for a 137 MW solar portfolio in Australia. Financial close was reached on a long-term portfolio financing package from Westpac Banking Corporation and DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Singapore Branch. It will aid in the development and construction of the 106 MW Lancaster Solar Park in Victoria and the 31 MW Mulwala Solar Park in New South Wales. Both projects will be grid connected to the National Electricity Market (NEM). European Energy sees Australia as a key market with strong long-term potential due to its high solar resource, established grid infrastructure, and growing policy support for renewables.
KKR investing in Zenith Energy: Global investment firm KKR has signed definitive agreements to acquire a majority stake in Australian independent power producer (IPP) Zenith Energy, which specializes in hybrid power solutions for remote off-grid clients, like in the mining industry. It also invests in urban microgrids for commercial, industrial, and residential precincts. Zenith Energy goes to KKR’s fold with more than 710 MW contracted capacity across 15 sites, secured under long-term contracts. In May 2025, Zenith Energy completed an AUD 1.9 billion refinancing (see Asia Pacific Solar PV News Snippets: Vietnam’s New Decree Offers Incentives For RE & More).
KKR is making this investment through its Asia Pacific Infrastructure Investors II Fund. It is already invested in Indian renewable energy platform Virescent Renewable Energy Trust, Hero Future Energies, Philippines’ First Gen, and Taiwan’s Aster Renewable Energy.
Refinancing for METLEN in Australia: Greece’s METLEN Energy & Metals has achieved financial close on a refinancing of all its operating and under-construction assets in Australia. It comprises 382 MW of operational solar farms in New South Wales (NSW) and Queensland, and the 150 MW Munna Creek Solar Farm due for completion near Gympie in south-west Queensland. It raised this refinancing from its lenders, Deutsche Bank, Intesa Sanpaolo (IMI CIB Division) and Westpac Banking Corporation. It is structured with an AUD 269 million ($175 million) operating term facility, AUD 158 million ($103 million) Munna Creek construction facility, and AUD 33 million ($21.4 million) of ancillary facilities.
48 MW changes hands in Japan: Singapore-headquartered renewable energy developer Peak Energy has acquired 48 MW of ready-to-build (RTB) solar PV capacity in Japan. This capacity comprises high-voltage solar sites across Japan, including Tokyo and Tohoku. It can together generate nearly 60 GWh of zero-carbon electricity annually, to be sold to corporations under long-term power purchase agreements (PPA) for fixed prices over 20 years. All these projects are scheduled to come online between 2026 and 2027. Along with its existing 28 MW operational solar farm and a recent 11 MW acquisition, Peak Energy counts its total portfolio in Japan to have expanded to 87 MW.
20 MW power supply agreement in the Philippines: PetroGreen Energy Corporation (PGEC) subsidiary PetroSolar Corporation (PSC) has signed a strategic solar power supply agreement with Shell Energy Philippines (SEPH). It covers the entire output of PSC’s 20 MW Tarlac-2 Solar Power Plant for supply to SEPH, which will then supply it to its customers.
World Solar Challenge for AIKO: All Back Contact (ABC) solar PV technology specialist AIKO has renewed its partnership with the Brunel Solar Team to participate in the 2025 Bridgestone World Solar Challenge (BWSC) in Australia. AIKO’s n-type ABC cells with 27.2% mass production efficiency will power Brunel’s solar car that will need to travel the 3,000 km race from Darwin to Adelaide. The duo previously collaborated for the Sasol Solar Challenge in South Africa and are back together now after successful results.
“With their N-Type ABC cells now achieving 27.2% average mass-production efficiency, we’re using the most powerful commercial solar solution available — and that gives us confidence heading into this race,” said Brunel Solar Team’s Electrical Engineer Martijn Boonen.
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