Deals this week: Scatec Solar, Ceres Power Holdings, Hevel

6 July 2018 (Last Updated July 27th, 2018 07:05)

Scatec Solar and Rengy Development have secured project financing for constructing and developing a 47MW solarpower plant in the Mykolaiv region of Ukraine from a group led by European Bank of Reconstruction and Development (EBRD).

Scatec Solar and Rengy Development have secured project financing for constructing and developing a 47MW solarpower plant in the Mykolaiv region of Ukraine from a group led by European Bank of Reconstruction and Development (EBRD).

The power plant is estimated to cost €52m ($60.57m).

Scatec Solar will act as the engineering, procurement and construction (EPC) services provider and will also own 51% of the power plant, while Rengy Development will own the remaining stake.

Based in Europe, Scatec Solar is engaged in solarpower production. Ukraine company Rengy Development is engaged in developing renewable energy projects in Eastern Europe and CIS.

Ceres Power Holdings has raised £20m ($26.5m) in a private placement of 132.6 million ordinary shares priced at £0.1508 ($0.20) a share.

UK-based IP Group subsidiary IP2IPO Portfolio LP has subscribed to 26.5 million shares issued under the placement. Company non-executive director Aidan Hughes has subscribed to 265,200 shares.

Proceeds from the placement will be used for various purposes, including financing a new manufacturing facility in the UK, arranging initial funding for a proposed manufacturing joint venture (JV) with Weichai Power for strengthening the balance sheet, and to meet working capital requirements.

Based in the UK, Ceres Power is engaged in providing fuel cell technology and engineering services.

“UK-based IP Group subsidiary IP2IPO Portfolio LP has subscribed to 26.5 million shares issued under the placement.”

The company has engaged Zeus Capital Limited and Joh. Berenberg, Gossler & Co KG as joint book-runners for the transaction.

Hevel has agreed to invest RUB1.5bn ($23.75m) for developing the 15MW Khorinskaya solarpower plant in Selenginsk, Khorinsky, the Republic of Buryatia, Siberia.

Based in Russia, Hevel is engaged in renewable energy generation.

Lietuvos Energija UAB has issued 1.875% of ten-year senior unsecured Green Eurobonds in a private placement to raise €300m ($351m).

Issued bonds were acquired by 116 investors from 22 countries.

Lietuvos Energija proposes to use funds raised for financing investments in wind energy, increasing the efficiency of the power distribution grid, and to develop projects that produce energy from waste and biomass.

Based in Lithuania, Lietuvos Energija is a state-controlled energy holding company.

The company has engaged BNP Paribas, JP Morgan and SEB as joint lead managers for the transaction.

Ballard Power Systems has acquired certain strategic assets of Automotive Fuel Cell Cooperation Corporation (AFCC) from Daimler AG and Ford Motor Company.

Based in Germany, Ballard is engaged in providing clean energy products, while AFCC is a private company based in Canada.