From: Mercom Capital Group

Sun King, an off-grid solar energy company, raised $40 million in equity financing from Lightrock, a global sustainable investment platform. The funding is expected to support Sun King’s expansion of decentralized solar energy systems across Africa and Asia and advance the development of new products for underserved households and businesses in these regions.

Haven Energy, a provider of solar and battery system solutions, raised $40 million in new funding. This funding consisted of an equity round led by Giant Ventures and a debt facility provided by Turtle Hill, with additional equity participation from California Infrastructure Bank, Carnrite Ventures, Chaac Ventures, Comcast Ventures, and Lerer Hippeau.

Qair, an independent renewable energy producer, announced the closing of its inaugural syndicated loan totaling €240 million (~$282 million). This financing comprises a €130 million (~$153 million) amortizing loan with an initial three-year maturity, extendable twice for one additional year each, a €110 (~$129) million revolving credit facility with the same maturity terms, and an accordion option of up to €100 million (~$117 million), enabling the inclusion of additional banking partners.

FION Energy, a Berlin-based company that installs and operates smart battery systems for industrial companies, closed a €1.4 million (~$1.6 million) pre-seed funding round. The funding round was led by HTGF and Norrsken Evolve, with participation from experienced business angels. This financing will be used to accelerate its product roll-out, further develop its technology, and expand its team.

The clean energy arm of the Aditya Birla Group, Aditya Birla Renewables (ABRen), secured an investment commitment of ₹20 billion (~$222.37 million) from Global Infrastructure Partners (GIP), a part of BlackRock, with a greenshoe option to invest an additional ₹10 billion (~$111.18 million). The proposed investment by GIP will be made through one or more private placement preferential issues of shares. The shares to be issued will comprise compulsory convertible preference shares and equity shares.

Engineering, procurement, and construction company, Soleos Solar Energy, secured $12 million (~₹1.07 billion) in funding from venture capital firm Gujarat Venture Finance. The investment round was joined by Tipsons Group, Navin Dalmia, a few family offices, and several of its existing investors.

Energy efficiency solutions provider Smart Joules raised $10 million in Series B funding led by SVL SME Neev II Fund managed by SBI Ventures, Waaree Renewable Technologies, and Spectrum Impact. The investment will accelerate Smart Joules’ next phase of growth as it scales across India’s commercial and industrial sector.

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.