The latest renewable energy news includes announcements from Flatiron Energy, Aligned Climate Capital, Exus, Legal & General and NTR, and others.
Flatiron Energy Secures $850 Million Financing for 1,200 MWh Battery Storage Project in Boston
US battery storage developer Flatiron Energy has closed approximately $850 million in financing commitments for its 1,200 MWh Energizar battery energy storage project in Chelsea, Massachusetts. The financing package includes construction loans, term debt, bridge facilities, letters of credit, preferred equity and investment tax credit transfer commitments. Nord/LB, Santander and Société Générale acted as coordinating lead arrangers, while Investec, East West Bank and Siemens Financial Services participated in the lending arrangements. Two Fortune 500 companies have committed to purchasing portions of the project’s tax credits. Energizar is scheduled to enter commercial operation in Q4 2027. The facility will provide electricity during peak-demand periods and grid support services to the Boston metropolitan area.
Aligned Climate Capital Raises $387 Million for 126 MW Community Solar Portfolio in US
US investment manager Aligned Climate Capital has secured approximately $387 million in construction-to-permanent financing for a portfolio of 20 community solar projects totalling 126 MWdc. The portfolio comprises 18 projects representing 115 MWdc in Illinois and two projects totalling 11 MWdc in Maryland. Apterra Infrastructure Capital, an Apollo Global Management affiliate, led the financing. Other lenders include BankUnited, Stifel, Banco de Crédito e Inversiones, Amalgamated Bank, Farmer Mac, BTG Pactual and Siemens. The projects are expected to generate approximately 225 GWh of electricity annually, equivalent to consumption by 31,500 homes. The Maryland installations participate in a programme reserving at least 40 percent of capacity for low- and moderate-income subscribers.
Exus Secures €200 Million Financing from Santander and Société Générale for Renewable Infrastructure
Portugal-based renewable-energy and digital infrastructure company Exus has closed a €200 million financing agreement with Banco Santander and Société Générale. The financing was arranged at the holding-company level and will support debt refinancing, renewable-energy construction, acquisitions and new project development. The agreement also includes a letter-of-credit facility supporting grid connections and electricity offtake commitments. Santander and Société Générale acted as mandated lead arrangers and co-underwriters, with Santander serving as facility and security agent. Exus develops, constructs and operates electricity generation, energy storage and grid infrastructure serving utilities and large industrial electricity consumers. The company intends to use the additional capital to expand its European renewable-energy portfolio and support integrated power infrastructure developments.
Legal & General and NTR Raise €330 Million for European Renewable Energy and Battery Storage Fund
Legal & General and NTR have secured €330 million in commitments at the first close of their Clean Power Transition IV Fund. Four returning institutional investors provided cornerstone commitments. The fund has already completed three acquisitions covering approximately 1.5 GW of renewable-energy and grid-support infrastructure. These include a 125 MW/250 MWh battery project in Finland, a Swedish clean-energy development platform with more than 1 GW of projects, and an Irish development comprising 138 MWp of solar and 200 MW/400 MWh of battery storage. Construction of the Finnish battery is scheduled to begin in 2026, with operation expected in 2027. The previous joint fund raised more than €640 million.