Solar and storage financing expands across the US, UK and New Zealand
Deriva Energy secured about $540 million in financing for its 350 MW Sullivan County Power solar project in Indiana, with commercial operation planned for the second quarter of 2028. BW ESS arranged debt financing for its 400 MW/1,424 MWh Hams Hall battery storage project in the UK, targeting operation in the fourth quarter of 2026. Lodestone Energy raised NZ$75 million through an IPO on the New Zealand Exchange and aims to develop 16 to 18 solar farms by 2032.
Deriva’s Indiana project is its biggest so far and is already being built; five banks are involved in the roughly $540 million package. The Brookfield-backed company says it has about 7 GW of wind, solar and storage operating or in construction, after a separate $280 million Oklahoma storage financing.
BW ESS drew equal contributions from three lenders for Hams Hall, with Rabobank also serving as agent and over 30 lenders showing interest. The project belongs to a 2.6 GWh portfolio co-owned with AIP Management. Lodestone’s NZ$2.25-per-share IPO raised NZ$75 million, drew about 10,000 new investors, and values the firm near NZ$440 million.
The financing could affect local electricity systems and nearby communities by supporting construction jobs and, later, cleaner generation and storage capacity. The UK battery project may help manage demand for about 1.3 million homes over 3.5 hours, potentially improving grid resilience. New Zealand investors and customers may see more solar supply and retail competition if Lodestone meets targets. Benefits may depend on timely completion and grid connections.