From: Mercom Capital Group

Aypa Power, a developer, owner, and operator of energy storage and hybrid generation assets has secured a corporate credit facility worth $320 million. The credit facility includes a $250 million letter of credit and a $70 million revolving credit, providing Aypa with development capital and credit support for securing agreements related to power purchases, revenue contracts, and interconnection. The facility was arranged by Banco Santander, Investec, and Nomura as Coordinating Lead Arrangers and Joint Bookrunners.

U.S.-based Hecate Energy, a developer of renewable projects and provider of energy storage solutions, closed a five-year $550 million credit facility package, including a $250 million term loan and $300 million Letter of Credit facility. The credit facility will support Hecate’s plans to expand its solar and energy storage project pipeline.

Otovo, a Norway-based residential solar installer, has raised up to €120 million (~$130.4 million) through a combination of debt and equity financing. The debt component of the funding comes from DNB Bank and Sparebank 1 SR-bank, providing €50 million (~54 million) and €50 million (~$54 million) in committed and uncommitted accordion debt financing, respectively. The funding is expected to allow the construction of 12,500 solar subscription assets. A €20 million (~$21.4 million) fully guaranteed equity issue was raised through a private placement by the company’s largest shareholder, AxSol AB, at a price of €1.85 (~$2) per share.

Pune-based solar cold storage solutions provider Ecozen has raised $25 million in equity and debt capital in its series C round as it looks beyond agriculture to expand into new climate deep-technology fields. The company is looking to accelerate the broader energy transition through its deep-tech expertise in energy storage, motor controls, and analytics. Nuveen and Dare Ventures led the Series C equity portion.

AMPECO, a software platform for electric vehicle charging providers, raised a total of $16 million in venture capital investment after closing a Series A funding round of $13 million led by BMW i Ventures. The funding will be used to expand further into the North American market with on-site local teams there and in the UK, France, and Germany. The round also included investments from Launchub Ventures and Cavalry Ventures, who had recently participated in AMPECO’s $3 million seed round.

SolarArise, a Delhi-based solar developer, has announced the completion of its acquisition by Thomas Lloyd Energy Impact Trust, an investment fund listed on the London Stock Exchange. SolarArise has eight solar power projects with a total capacity of 400 MW across Madhya Pradesh, Maharashtra, Uttar Pradesh, Karnataka, and Telangana. SolarArise’s operating revenues are generated under fixed-price, long-term power purchase agreements. Last June, Thomas Lloyd Impact Trust acquired the remaining 57% interest in SolarArise India Projects for a cash consideration of $38.5 million.

For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.

Read last week’s funding roundup.