PetroGreen Energy, the renewables arm of Philippine-listed PetroEnergy Resources, signed a project finance facility of up to 1.24 billion pesos (about $19.7 million) with Rizal Commercial Banking Corp. for its roughly 40 MW Limbauan solar project in San Pablo, Isabela, Mercom Capital reported. Phase 1 carries a power supply agreement with Isabela II Electric Cooperative and phase 2 won a tariff under the Department of Energy’s Green Energy Auction 2, with both lender and borrower in the Yuchengco group.
Qatar’s QNB inked a $2.5 billion loan led by Asian lenders, Bloomberg reported, the latest Gulf bank funding round where Asian balance sheets set the pricing. Single-sourced; details behind the paywall.
Japan’s deal drought has cut IPO fundraising to its lowest in 14 years, Bloomberg reported, a stark contrast with the crowded October equity calendar in India and London. Single-sourced; details behind the paywall.
SpaceX’s post-IPO rally has broken the stock out of its funk toward a $750 billion valuation, Bloomberg reported, implying the public market is now pricing the company well above its earlier financing marks. Single-sourced; details behind the paywall.
The EU is heading into talks eyeing a 160 billion euro cut from its initial budget, Bloomberg reported, a fiscal-tightening backdrop for any industrial-policy or co-financing ambitions. Single-sourced; details behind the paywall.
The Department of War announced $350 million of quantum computing initiatives, including the Office of Strategic Capital’s $150 million conditional loan to PsiQuantum (covered in this beat October 9) and roughly $200 million in new DARPA Quantum Benchmarking funding advancing four providers to Stage C. The umbrella announcement confirms the PsiQuantum loan as part of a coordinated defense push into quantum manufacturing, not a one-off.
First Student, the school-transportation operator, filed for acquisition of control of Autumn Transportation and Ambassador Wheelchair Services in the Federal Register on October 9, another tuck-in in the school and paratransit consolidation wave. Details of the filing are limited; terms not disclosed.
Fisk Electric won a $24 million modular contract for a Houston data center, Construction Dive reported, the latest electrical trade package awarded as Texas hyperscale builds keep their construction momentum.