The latest renewable energy news includes announcements on energyRe, TotalEnergies, KKR, Orsted, Gunfleet Sands Offshore Wind Farm, and others.
energyRe Secures $815 Million Financing for 360 MW Solar Portfolio in South Carolina
US renewable-energy developer energyRe has closed an $815 million financing package covering five utility-scale solar projects with approximately 360 MW of combined capacity in South Carolina. The financing was arranged with Bank of America, Canadian Imperial Bank of Commerce and Santander. Bank of America served as documentation agent, while Santander acted as financial adviser. The projects are supported by 25-year power purchase agreements. energyRe has now raised more than $1.9 billion to finance its solar portfolio, which exceeds 1.8 GW across 20 projects in four US states. The company aims to invest $2 billion in South Carolina by 2030.
TotalEnergies and KKR Add 700 MW Solar Portfolio Valued at $1.2 Billion to US Joint Venture
French energy company TotalEnergies and investment firm KKR have signed an agreement to add 700 MW of solar capacity to their equally owned US renewable-energy joint venture. The transaction covers three utility-scale solar projects in Texas and Ohio, with a combined enterprise value of $1.2 billion. Commercial operation is expected by the first quarter of 2027. The joint venture was established in 2025 with a 1.4 GW solar portfolio. Following the latest addition, its capacity will increase to 2.1 GW. TotalEnergies will continue operating the assets. Completion is expected during 2026, subject to customary closing conditions.
Orsted to Acquire Remaining 49.9% Stake in 172 MW Gunfleet Sands Offshore Wind Farm for £15 Million
Danish renewable-energy company Ørsted has exercised its contractual buyback right to acquire the remaining 49.9 percent ownership interest in the 172 MW Gunfleet Sands 1 & 2 offshore wind farm in the United Kingdom. The acquisition consideration is approximately £15 million ($20 million). Ørsted currently owns 50.1 percent, while JERA Nex BP and the Development Bank of Japan hold 24.95 percent each. Located approximately seven kilometres off the Essex coast, the project has operated since 2010 and generates electricity equivalent to the requirements of more than 125,000 UK homes. Completion is expected in November 2026, subject to customary conditions.
