Funding and M&A Roundup: Solar and Battery Leasing Firm Enpal Raises $233 Million
Energy firm ENGIE Raises $2.97 billion through green bonds
January 18, 2023
From: Mercom Capital Group
Enpal, a German-based solar and battery leasing solutions company, secured €215 million (~$233 million) in series D funding led by TPG Rise Climate to support the company’s expansion plans. As a part of the fundraising, along with Westly Group and Activate Capital, two additional major climate investors came on board. Existing investors such as HV Capital (with support from the European Investment Bank), SoftBank Vision Fund 2, and Princeville Climate Technology also participated and increased their commitments.
France-based energy firm ENGIE raised €2.75 billion (~$2.9 billion) after closing its triple-tranche green bond issue. The transaction delivered an average coupon rate and duration of 3.93% and 12.4 years, respectively. The company said the issuance covers a substantial part of ENGIE’s financing needs for 2023.
Chara, a Bengaluru-based manufacturer of electric motors for electric vehicles (EV), raised $4.75 million in a pre-series A round funding led by Exfinity Venture Partners. The funding round also saw participation from Vietnam-based Big Capital, a venture arm of Bitexco and Log9 Materials. Existing investors Kalaari Capital and ciie.co also participated in the round.
Electric powertrains technology company Entuple E-Mobility raised $3 million in pre-series A funding from Blue Ashva Capital and Capital A to enhance the company’s research and development capabilities for new technologies. The company said the funding would be used to develop next-generation traction motors and drives for mobility applications, including machine learning and advanced telematics capabilities in its product.
Norway’s development finance institution Norfund said it would invest about NOK 600 million (~$60.5 million) in the Indian solar and agricultural waste-to-energy company SAEL. The investment will help SAEL support its target of growing its renewables portfolio to 3 GW by 2028 by adding 100 MW of new biomass and 400 MW of new solar capacity annually to its existing portfolio of 600 MW.
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.
