ClimateRock, EEW Form New Entity to Operate Solar Projects in Europe, UK, and Australia
ClimateRock, a special purpose acquisition (SPAC) and investment firm, and Eco Energy World (EEW), an independent global developer of utility-scale solar photovoltaic (PV) projects, announced the signing of a definitive ...
Orb Energy Secures $20 Million to Develop 25 MW Solar Park and Rooftop Solar Projects
Orb Energy, a vertically integrated provider of solar energy solutions in India, announced it had received a $20 million follow-on loan for a tenor of up to 10 years from ...
Suncor Energy Sells Wind & Solar Assets, Shifts Focus to Hydrogen and Renewable Fuels
Canadian integrated energy company Suncor has agreed to sell its wind and solar assets for C$730 million (~$537.61 million) to Canadian Utilities, an ATCO company. The acquisition includes a diversified ...
Waaree Energies Raises ₹10 Billion to Expand Solar Module Manufacturing Capacity
Indian solar module manufacturer Waaree Energies has raised ₹10 billion (~$122.63 million) from various high-net-worth individuals and private offices. The proceeds will be used to expand Waaree’s manufacturing facility in ...
Intersect Power Closes $3.1 Billion Financing for 2.2 GW Solar Plus Storage Portfolio
Intersect Power, a U.S.-based renewable energy project developer, announced the closing of an aggregate of $2.4 billion of new financing and an additional $675 million against earlier commitments for developing ...
Funding and M&A Roundup: EV Charging Company Connected Kerb Secures $110 Million
From: Mercom Capital Group Connected Kerb, a London-based electric vehicle charging infrastructure specialist, announced that it had secured an investment of up to £110 million (~$110 million) from Aviva Investors, the global asset ...
Reliance Acquires 20% Stake in Perovskite-based Solar Tech Firm Caelux for $12 Million
Reliance New Energy (RNEL), a wholly-owned subsidiary of Reliance Industries, has acquired a 20% stake for $12 million in California-headquartered Caelux Corporation, a company developing perovskite-based solar technology to enhance ...
Solar EVA Manufacturer Navitas Alpha Raises ₹70 Million in a Seed Round
Solar Ethyl Vinyl Acetate (EVA) manufacturer Navitas Alpha Renewables (NARPL) has raised ₹70 million(~$866,041) in a seed round led by investment advisory firm Niveshaay with participation from Madhusudan Sarda, IVY Growth ...
Terra-Gen Secures $959 Million for a 410 MW Solar and 1.8 GWh Battery Storage Project
Leading independent renewable energy provider Terra-Gen has completed project financing of $959 million for the second phase of its Edwards Sanborn Solar Storage facility in Kern County, California. The second ...
Project Finance Brief: Terra-Gen Raises $959 Million for Solar Storage Projects
From: Mercom Capital Group Terra-Gen, an independent renewable energy provider, raised $959 million in financing for the second phase of its Edwards Sanborn solar storage project in Kern County, California. This phase of ...
Funding and M&A Roundup: Tesseract Raises $78 Million in Funding
From: Mercom Capital Group Tesseract, a vertically integrated company that purchases energy from generators at fixed prices and then offers it to consumers, raised $78 million to buy and build selected renewable energy ...
Supply Chain Disruptions, Delayed Product Sales Hit ReneSola’s Financials in Q2 2022
ReneSola Power, a solar developer, posted net revenue of $8.6 million for the second quarter (Q2) of 2022, a year-over-year (YoY) fall of 54% from $18.88 million. The company attributed ...
Funding and M&A Roundup: Battery Recycling Company Ascend Elements Raises $50 Million
From: Mercom Capital Group Ascend Elements, a lithium-ion battery recycling and engineered materials company, announced a strategic investment of $50 million from SK ecoplant, the environmental unit of Korean conglomerate SK Inc. The ...
Reliance to Acquire Majority Stake in Solar Software Company SenseHawk for $32 Million
Reliance Industries (RIL) has signed definitive agreements to acquire a 79.4% stake in SenseHawk, a solar digitization platform SaaS that helps customers develop, build and operate solar and other infrastructure ...
Funding and M&A Roundup: Pivot Energy Acquires Community Solar Project Developer
From: Mercom Capital Group Pivot Energy, a commercial and community solar project developer, has acquired SGC Power, a Maryland-based community solar developer. SGC Power has been involved in 2.8 GW of solar ...
Norway’s Climate Investment Fund to Acquire 49% Stake in 420 MW Solar Project in Rajasthan
Norwegian Climate Investment Fund, managed by development and finance institution Norfund and Norway’s largest pension Fund KLP, signed an agreement to acquire a 49% stake in a 420 MW solar ...
Canadian Solar’s Revenue Up 62% YoY, Driven by Higher Module and Battery Storage Shipments
Solar photovoltaic module manufacturer Canadian Solar posted revenue of $2.31 billion for the second quarter (Q2) of the calendar year 2022, up by 61.54% year-over-year (YoY) from $1.43 billion in ...
Solar Energy-Focused Tech Startup Renkube Raises ₹24 Million in Seed Round
Solar Energy-focused deep tech startup Renkube has secured ₹24 million (~$300,000) in a seed round led by CIIE.CO, a startup incubator established by IIM Ahmedabad. JITO Angel Network and K4 ...
Material Shortages, Supply Disruptions Cause 13% Dip in SMA Solar’s Net Income in 1H 2022
Material shortages and supply chain disruptions negatively impacted the sales and financials of solar equipment supplier SMA Solar Technology during the first half (1H) of the financial year (FY) 2022 ...
Vikram Solar Gets SEBI’s Nod to Raise Funds Through Initial Public Offering
Vikram Solar, a solar module manufacturer and EPC solutions provider, has received SEBI’s nod to raise funds through an initial public offering (IPO). The IPO consists of a fresh issue ...
Project Finance Brief: Exus to Acquire 20 Solar Projects Totaling 1 GW in Brazil
From: Mercom Capital Group Exus Brasil Investimentos, an asset manager of Exus Management Partners (Exus), has signed a deal to acquire 100% shares of the Riacho da Serra project in Piauí, Brazil, ...
Funding and M&A Roundup: Shell Completes Acquisition of Sprng Energy
From: Mercom Capital Group Shell Overseas Investment, a wholly owned subsidiary of Shell, has completed its 100% acquisition of Solenergi Power and, with it, the Sprng Energy group of companies from Actis Solenergi Limited ...
ALH Insurance Group Acquires 49.9% Stake in 600 MW Solar Portfolio from EnBW
Financial services provider Alte Leipziger Hallesche (ALH Group) is indirectly acquiring 49.9% of a portfolio of sixteen solar farms with a total capacity of 597 MW owned by Energie Baden-Württemberg ...
SolarEdge’s Revenue from Solar Segment Surges 59% YoY in Q2 2022
Israel-based manufacturer of solar inverters, power optimizers, and monitoring systems, SolarEdge posted revenue of $727.8 million in the second quarter (Q2), a quarter-over-quarter (QoQ) increase of 11% from $655.1 million ...
Shapoorji Pallonji to Offload 1.25% Stake in Sterling and Wilson
Shapoorji Pallonji has proposed to sell 2,370,787 equity shares having a face value of ₹1 (~$0.013) each, amounting to a 1.25% equity it holds in its solar engineering and construction ...
