From: Mercom Capital Group

Return, an energy transition investment and development platform, has acquired a majority stake in J&P Batterie Projekte, an energy storage system developer, through a €50 million (~$56 million) investment and commitment. Return and J&P are expected to develop, finance, own, and operate a portfolio of projects, leveraging the experience of Return, which currently operates 70 MW (150 MWh) of operational assets and 450 MW (1,700 MWh) of ready-to-build projects.

Inox Wind Energy has signed an agreement with a consortium of banks led by ICICI Bank for a financing facility of ₹22 billion (~$263.54 million). The consortium comprises ten banks and several marquee private and foreign banks. The limit will likely be enhanced to ~₹24 billion (~$287.49 million) as per the ICICI Bank’s working capital assessment. The limits extended are largely non-fund-based bank guarantees and letters of credit.

‍David Energy, a grid tech company, secured $23 million in funding. The investment was led by Cathay Innovation, with participation from prior investors Union Square Ventures, Keyframe Capital, Equal Ventures, and BoxGroup, among others. This latest funding round enables the company to continue scaling both business lines in its active states and begin expansion plans. The company currently serves the electricity needs of residents in Texas and multi-unit business owners in New York, New Jersey, Massachusetts, and Texas.

IGREL Renewables, a renewable power generation platform of the INOXGFL Group, has raised ₹3 billion (~$35.8 million) in equity capital from prominent investors. The capital infusion will support IGREL Renewables’ expansion of its renewable energy portfolio. IGREL Renewables has set a target of installing a renewable energy capacity of 2 GW by the financial year 2027. This capacity will comprise both wind and solar projects. The company’s expansion plans entail a cumulative capital expenditure of approximately ₹120 billion (~$1.4 billion) over the next three years.

Cariqa, a provider of EV charging solutions, secured €1 million (~$1.1 million) in a pre-seed funding round. The round included participation from a range of investors from the U.S., Europe, and Asia, such as Anthemis (Female Innovator Lab), Vento Ventures, Hatcher+, Techstars, Golden Egg Check, and Plug and Play.  The funding will be used to develop a consumer-facing EV charging marketplace and initiate Cariqa’s rollout across Europe.

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.