From: Mercom Capital Group

Jupiter Power, a utility-scale energy storage project developer and operator, has secured a $500 million senior-secured green revolving loan and letter of credit facility. Barclays Bank, HSBC Bank USA, ING Capital, National Association, Société Générale, and SMBC acted as Coordinating Lead Arrangers. HSBC Bank USA, National Association, also served as administrative agent and collateral agent. Kirkland & Ellis acted as borrower’s counsel, and Latham & Watkins acted as lenders’ counsel.

Redwood Materials, an energy storage and battery recycling company, raised an additional $75 million in Series E funding from new investor Google, with continued participation from existing investors Capricorn and Goldman Sachs Alternatives. The final close brings the company’s total Series E funding to $425 million, up from $350 million raised in October in a round led by Eclipse, with participation from NVentures, NVIDIA’s venture capital arm, and other strategic investors.

Terra Energy, a residential solar subscription provider, has secured $35 million in green loan financing from Breakwall Capital, an energy specialist focused on providing direct lending solutions to middle-market and developing-energy companies. Greenberg Traurig served as legal counsel, and Barkers Point Capital Advisors served as placement agent for Terra Energy. Vinson & Elkins served as legal counsel, and Teneo acted as the independent technical and commercial advisor for Breakwall Capital. The financing follows equity investments from ARC PE and Azora Capital, along with credit facilities from Banesco and First Horizon Bank, bringing the total new funding to $105 million.

Energy storage solutions provider, Meine Electric, has raised $750,000 (~₹67 million) in a pre-seed funding round from Antler, Rebalance, Venture Catalysts, gradCapital, and AIC-AU Incubation Foundation,and angel investors. This funding will be utilized to accelerate Meine’s transition from laboratory-scale prototypes to pilot-ready iron-air battery systems.

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

Read last week’s funding roundup.