
Canadian Solar Ships 14.5 GW of Modules and 9 GWh of Battery Storage Systems in 2021
Canadian Solar, a Canada-based solar module manufacturer, recorded net revenue of $1.53 billion in the fourth quarter (Q4) of 2021, a 47% year-over-year (YoY) increase, and a 24% quarter-over-quarter (QoQ) ...

Airtel Acquires Stake in Avaada’s 10 MW Open Access Solar Project in Karnataka
Bharti Airtel, one of India’s largest telecom companies, and its data center subsidiary, Nxtra Data, have acquired a 7.03% and 11.33% equity stake in Avaada KNShorapur, a special purpose vehicle ...

Project Finance Brief: OX2 Acquires 500 MW of Solar and Wind Projects in Greece
From: Mercom Capital Group OX2 AB, a Swedish renewable energy company that develops, finance, and manages large-scale solar and wind projects, has acquired two portfolios in Greece with an installed capacity of ...

Jinko Solar’s Module Shipments Up 93% QoQ in Q4 2021
Chinese solar cell and module manufacturer Jinko Solar, in its recently announced financial results, posted a revenue of $2.57 billion in the fourth quarter (Q4) of 2021, a 73.9% year-over-year ...

Adani Green Raises $288 Million to Finance Solar Wind Hybrid Projects in Rajasthan
Adani Green Energy has raised a $288 million (~₹21.76 billion) financing facility by extending its construction financing framework to $1.64 billion (~₹124 billion) for its under-construction renewable asset portfolio through ...

Project Finance Brief: Voltalia Sells Minority Stake in its 320 MW Solar Project in Brazil
From: Mercom Capital Group STOA Infra and Energy, an investment fund specialized in infrastructure projects, acquired a 33% equity stake in the SSM1&2 solar projects in Brazil developed and owned ...

Solar Cell Manufacturer Jupiter Raises ₹1.7 Billion from Edelweiss Group
Solar cell manufacturer Jupiter International raised ₹1.7 billion (~$22.19 million) from funds managed by Edelweiss Alternative Asset Advisors (EAAA). The capital raised includes debt and a convertible to equity instrument ...

Project Finance Brief: Gore Street Acquires 90% Stake in a 22 MW Energy Storage Project
From: Mercom Capital Group London Stock Exchange-listed battery storage investment fund Gore Street has completed the acquisition of a 90% stake in a 22 MW/28 MWh operational energy storage asset in Cremzow, Germany. The ...

Macquarie Led Consortium to Acquire Reden Solar for €2.5 Billion
A consortium led by Macquarie Asset Management will be acquiring solar project developer Reden Solar from InfraVia Capital Partners and Eurazeo for an enterprise value of €2.5 billion (~$2.72 billion) ...

Funding and M&A Roundup: Aurora Solar Raises $200 Million in Series D Funding
From: Mercom Capital Group Aurora Solar, a cloud-based solar projects design and proposal software solutions provider, has raised $200 million in a Series D funding round co-led by current investors Coatue and Energize ...

Project Finance Brief: Blackstone-backed Aypa Acquires a 100 MW Energy Storage Project
From: Mercom Capital Group Aypa Power, a Blackstone portfolio company and developer, owner, and operator of energy storage and hybrid generation assets acquired the 100 MW Yadkins Energy storage project from East Point ...

Avaada Energy to Raise ₹14.4 Billion Through AAA-Rated Green Bonds
Renewable energy project developer Avaada Energy has announced that it will raise green bonds worth ₹14.4 billion (~$192 million) at 6.75% in the Indian capital market. According to the company, ...

Azure Power Posts ₹4.48 Billion Revenue, 27% YoY Growth in Q3 FY 2022
Azure Power, an independent solar power producer, reported operating revenue of ₹4.48 billion (~$60.2 million) in the third quarter (Q3) of the fiscal year (FY) 2022, a 27% year-over-year (YoY) ...

ReNew Power’s Total Revenue Up 26% YoY in 9M FY 2022
Independent power producer ReNew Power has announced the results for the third quarter (Q3) of the fiscal year (FY) 2022, and the nine months ended December 31, 2021. The company ...

Virescent Renewable Energy Trust Acquires Godawari Green Energy for ₹6.65 Billion
Virescent Renewable Energy Trust (VRET), a renewable energy infrastructure investment trust by Virescent Infrastructure, has signed a share purchase agreement to acquire 100% shareholding and management control in Godawari Green ...

Funding and M&A Roundup: Hydrogen Fuel Cell Company Bramble Energy Raises $47 Million
From: Mercom Capital Group London-based hydrogen fuel cell company Bramble Energy raised £35 million (~$47 million) in a Series B funding round led by HydrogenOne Capital Growth. Other existing institutional ...

AMPYR Solar Europe Secures €400 Million for Solar Project Development
AMPYR Solar Europe (ASE), a pan-European independent solar power producer, announced the closing of a €400 million (~$455 million) facility with CarVal Investors, an established global alternative investment manager, to ...

Husk Power Secures ₹310 Million in Debt Financing to Expand Solar Microgrids
Husk Power Systems, a renewable energy company working towards rural electrification, announced that it has secured ₹310 million (~$4.2 million) in debt financing from the Indian Renewable Energy Development Agency ...

Sterling and Wilson Renewable Energy’s Total Income Up by 11.5% YoY in Q3 FY 2022
Sterling and Wilson Renewable Energy (formerly Sterling and Wilson Solar), the solar engineering and construction arm of the Shapoorji Pallonji Group, recorded a total income of ₹15.02 billion (~$198.62 million) ...

TotalEnergies Acquires SunPower’s C&I Solar Business for $250 Million
Global energy company TotalEnergies has signed a definitive agreement to acquire SunPower’s commercial and industrial (C&I) solutions business for $250 million, including $60 million of earn-out. The acquisition will help TotalEnergies develop ...

Torrent Power Acquires a 25 MW Solar Project in Gujarat for ₹1.63 Billion
Gujarat-based power company Torrent Power Limited announced that it has entered into a share purchase agreement with Blue Daimond Properties and Balrampur Chini Mills to acquire 100% equity share capital of ...

Enphase Energy’s Revenue Up 56% YoY to $412.7 Million in Q4 2021
Enphase Energy, a supplier of microinverter-based solar-plus-storage systems, has reported a revenue of $412.7 million in the fourth quarter (Q4) of 2021, a 56.10% year-over-year (YoY) increase compared to $264.8 ...

Tata Power’s Revenue Jumps 42% YoY to ₹110.15 Billion in Q3 FY 2022
Tata Power has recorded a revenue of ₹110.15 billion (~$1.47 billion) in the third quarter (Q3) of the financial year (FY) 2022, a 42% year-over-year (YoY) increase compared to ₹77.56 billion ...

Cipla to Procure Power from AMP Energy’s 16 MW Open Access Solar Project
Indian multinational pharmaceutical company Cipla Limited entered into a share subscription and shareholder’s agreement along with a power purchase agreement (PPA) to acquire a 32.49% stake on a fully diluted basis ...

Virescent’s Renewable Energy InvIT Raises ₹6.5 Billion via Domestic Bond Issuance
Virescent Renewable Energy Trust (VRET), a renewable energy infrastructure investment trust (InvIT) by Virescent Infrastructure, raised ₹6.5 billion (~$87 million) through domestic bond issuance across 7.33-year (₹1.5 billion (~$20 million)) ...