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From: Mercom Capital Group

United States-based large-scale renewable energy project developer Intersect Power secured a $750 million growth equity investment led by TPG Rise Climate, with additional participation from existing investors, Climate Adaptive Infrastructure (CAI), and Trilantic Energy Partners North America. This investment aims to provide capital to scale the company’s business and support the entry into new markets and technologies, including nearly 1 GW of green hydrogen production and the development of its mid to late-stage portfolio totaling 8.5+ GW and 8+ GWh throughout the U.S.

CleanCapital, a clean energy investment company, acquired 100% ownership stakes in BQ Energy (BQE), a landfill and brownfield renewable energy development company. The acquisition includes about 300 MW of late-stage development solar projects and more than 700 MW of mid-stage solar projects. CleanCapital will fund these projects at various development stages, deploy capital to projects that advance the energy transition, and put underutilized and polluted land to new use with myriad climate and community-related benefits.

Turno, a startup providing technology-based solutions for commercial electric vehicle (EV) buyers, has raised $3.1 million in an equity funding round led by Stellaris Venture Partners and Avaana Capital. The investment raised will be used to accelerate investments in the company’s proprietary battery technology to lower EV ownership costs. Turno’s battery technology is a hybrid method of data science, simulations, and empirical testing to accurately predict the age of battery systems used in commercial EVs.


Investment funds managed by Swiss Life Asset Managers acquired a 50% stake in BCP Battery, a large-scale electrical battery platform in Germany. Through the acquisition, Swiss Life Asset Managers, on behalf of two infrastructure funds, acquired a 68 MWh electrical battery project in Germany. The transaction is made alongside B Capital Partners, a Zurich-based asset manager. The project in Eisenach, Thuringia, is under construction and expected to be one of the largest industrial batteries in the German storage market once completed. The project is part of a larger pipeline from Smart Power that will be implemented over the next 12 months.

EAB Private Equity and Tesi (Finnish Industry Investment) have made a €15 million (~$15.6 million) investment in the Finnish solar energy company Solnet Green Energy. The investments will help Solnet to accelerate its growth in the European market and help build out the scope of ancillary services offered to customers, such as energy storage and energy management systems. The company claims to have delivered around 400 solar utilities to clients such as IKEA, DHL, Lidl, Kesko, and other asset managers, insurers, and logistics companies.

Boralex, a renewable energy power producer, has announced the acquisition of Infinergy’s interests in the U.K. The transaction includes Infinergy’s portfolio of projects in development and its 50% interest in a joint venture formed with Boralex in 2017, as well as the integration of the Infinergy team into Boralex. Boralex and Infinergy have co-developed a portfolio of onshore wind projects in a 50/50 joint venture since 2017. As a result of the transaction, Boralex gains full access to a portfolio of wind, solar, and energy storage projects of 338 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