Today’s renewable energy news includes updates from TotalEnergies, Nextnorth, Statkraft, among others.
Lenders Back $300 mn Financing for 440MW Philippines Solar Project
Norton Rose Fulbright has advised lenders on the financing of a 440MWp solar project in Ilagan City, Philippines, developed by TotalEnergies and Nextnorth. The project has reached financial close, with construction underway and full operation targeted by end-2027. The approximately $300 million financing is provided by ING Bank, Sumitomo Mitsui Banking Corporation and Standard Chartered, reflecting strong investor confidence. Over half of the output is secured through long-term agreements with AdventEnergy and PrimeRES, with the remainder sold via the Green Energy Auction Program. The deal highlights innovation in blended offtake structures, supporting project bankability, energy security, and long-term sustainable growth in the Philippines.
Statkraft to Market Hybrid Solar and Storage Portfolio in Germany
Statkraft has signed an agreement with SUNCATCHER Group to market and optimise three hybrid solar and battery projects in Germany. The portfolio—Klötze II, Salzwedel and Seehausen—combines 34.5MWp of solar capacity with 12MW/24MWh of battery storage and is expected to be commissioned in the second half of 2026. Under the agreement, Statkraft will manage generation, storage and trading operations until 2031, using a profit-sharing model for battery assets. The partnership reflects growing investment in hybrid renewable systems that integrate generation with storage for enhanced flexibility. The initiative highlights innovation in energy trading and asset optimisation, enabling better use of price signals and short-term market opportunities. It supports grid stability, improves revenue potential, and delivers customer-focused benefits through efficient and reliable renewable energy integration.
Solar Funding Surges to $11.1 bn in Q1 2026
Global solar companies raised over $11.1 billion across 53 deals in Q1 2026, alongside more than 18GW of project acquisitions, according to Mercom Capital Group. Funding jumped 131 percent year-on-year and 127 percent quarter-on-quarter, driven by strong demand and improved policy clarity. Debt financing dominated with $8.9 billion across 28 deals, marking its highest level in over a decade, while public market and venture capital funding each contributed $1.1 billion. Mergers and acquisitions also rose, with 28 corporate transactions, led by downstream solar companies and project developers. The surge highlights growing investment confidence and innovation in solar markets, supported by large-scale transactions and hybrid project development. It strengthens energy security, accelerates renewable deployment, and delivers long-term economic and sustainability benefits for global energy systems.
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