From: Mercom Capital Group

Silfab Solar, a solar module manufacturer, has closed $100 million in new financing to scale its state-of-the-art solar cell manufacturing plant. The funding comprises a $50 million equity investment led by funds advised by ARC Financial. The funding also includes investment from undisclosed existing co-investors and a $50 million senior secured financing led by Breakwall Capital, an energy-focused asset manager, and SR Alternative Credit.

Iontra, a Colorado-based battery charging solutions provider for electric vehicles and residential energy storage systems, raised $45 million in a Series C funding round. The company has raised $120.3 million through funding so far. Energy sector investor Volta Energy Technologies led the funding round with additional support from other unnamed investors. This funding will help increase its production and make it available for customers in 2025.

MET Group, a Switzerland-based integrated energy company, announced the acquisition of 100% shareholding in Comax France, a combined heat and power and battery storage project developer. The financial terms of the transaction remained undisclosed. With this acquisition, the company has expanded its assets portfolio in Western Europe. MET Group will support the construction of Comax’s ready-to-build projects that are expected to be operational by mid-2026.

NTPC Green Energy’s ₹100 billion (~$1.19 billion) initial public offering (IPO) was oversubscribed 2.42 times at the end of the bidding window on November 22, 2024. The price band was set at ₹102-108 (~$1.21- 1.28) per equity share with a face value of ₹10 (~$0.119). The IPO saw bids for 1.43 billion shares, exceeding the 593.17 million shares on offer. The company’s shares were trading at a nil grey market premium. The shares will likely be listed on the BSE and NSE on November 25, 2024.

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.