Several major renewable energy financing deals closed this week, headlined by Atlas Renewable Energy’s approximately $3 billion corporate refinancing for its Latin American clean energy portfolio. The transaction represents the largest refinancing to date for clean energy in Latin America, according to the company. Atlas Renewable Energy, a solar and wind project developer, completed the deal with support from shareholder Global Infrastructure Partners and participation from multiple financial institutions including BNP Paribas, Crédit Agricole, Goldman Sachs, Morgan Stanley, MUFG Bank, Natixis CIB, and Santander CIB.
Due to its scale and structural complexity, the Atlas transaction involved 26 law firms across 11 jurisdictions. The refinancing underscores growing institutional confidence in Latin American renewable energy markets and reflects the region’s expanding role in global clean energy development.
Major Solar Portfolio Transactions Close Globally
Meanwhile, Lightsource bp sold a substantial portfolio of solar projects totaling 1,037 MWdc in Australia to Aula Energy, an Australian-headquartered renewable energy project developer. The transaction includes five operational solar facilities: the 200 MWdc Wellington Solar, the 425 MWdc Wellington North Solar, the 107 MWdc West Wyalong Solar, the 214 MWdc Woolooga Solar, and the 90 MWdc Wunghnu Solar projects.
Additionally, the portfolio comprises a development pipeline of up to 800 MW of co-located battery energy storage systems. This sale highlights the increasing integration of storage solutions with solar generation assets in renewable energy transactions.
U.S. Solar and Storage Projects Secure Hundreds of Millions
In the United States, Lydian Energy closed a $689 million financing package for two solar and one battery storage project located across three states. The independent power producer structured the deal as a full-stack financing backed by CIBC and MUFG, comprising a construction-to-term loan, a tax credit bridge loan, a co-investment bridge loan, and a letter of credit facility.
Lydian’s current portfolio includes 18 solar and storage projects with a combined capacity of 4.4 GW. The company is backed by the clean energy infrastructure fund Excelsior Energy Capital, according to the announcement.
However, Swift Current Energy also secured significant project financing this week, obtaining tax equity financing and $248 million in project financing for its 122 MWdc Three Rivers solar project in eastern Maine. Currently under construction in Hancock County, the project is expected to reach commercial operation by the end of 2026, with clean electricity fully contracted under a 20-year power purchase agreement.
European and North Carolina Solar Projects Advance
In contrast to the large-scale transactions in the Americas, Sun Investment Group closed a more modest €32.5 million (approximately $38 million) financing for a portfolio of solar projects in Poland. NORD/LB provided the construction bridge financing, including a VAT facility, for the portfolio comprising 32 ready-to-build projects with a combined capacity of 59 MWp at various stages of development.
Additionally, CleanChoice Energy announced it will acquire two solar projects totaling 222.2 MWdc located in Halifax and Bertie counties in North Carolina. The renewable energy company is acquiring the projects from utility-scale energy project developer Geenex, which began developing these projects in 2017.
Construction on the Sumac and Sweetleaf projects is expected to begin in early 2027, with interconnection planned for 2028. The timeline suggests developers continue to navigate extended interconnection queues affecting solar project deployment across the United States.
