From: Mercom Capital Group

TerraSpark, a space-based solar energy solutions provider, secured €5 million (~$5.7 million) in a funding round led by Daphni, Sake Bosch, the investor alliance Better Ventures, the Hans(wo)men Group, the Luxembourg Business Angel Network, and Karaoke Club. The funding will support further technology development and facilitate initial pilot projects and live tests.

BrightNight, an independent renewable energy producer, announced the first closing of its upsized corporate credit facility. This facility is said to provide a maximum total commitment of up to $850 million, including up to $550 million for letters of credit, up to $200 million for equipment deposits and limited-notice-to-proceed facilities, and $100 million in revolving credit capacity.

Grenergy, a Spain-based renewable energy developer and independent power producer, raised up to €170 million (~$196 million) through a green bond issuance on the Alternative Fixed-Income Market. Andbank and Banca March acted as lead managers and bookrunners for the transaction. The bond has a four-year maturity and carries a fixed coupon of 5%. The transaction is part of its broader €250 million (~$289 million) green bond program.

Gujarat Fluorochemicals announced that its subsidiary GFCL EV Products has raised approximately $80 million from an unnamed global investor, in addition to the $50 million previously secured from the International Finance Corporation. The total capital raised now stands at $130 million and will be deployed to scale manufacturing capacity for advanced battery materials.

Embedded electronics and power systems company Bacancy Systems raised ₹400 million (~$4.24 million) in a Series A funding round led by Sabre Partners and Greenstone Capital, both of which have acquired minority stakes through primary investments. The company plans to utilize the funds to scale its manufacturing capabilities, accelerate product development, strengthen research and development, and expand into international markets.

Electric vehicle manufacturer Euler Motors raised ₹4.37 billion (~$46.2 million) in a Series E funding round. This round was led by Lightrock and saw Hero MotoCorp and Blume Ventures returning as investors. The funding round was complemented by ₹2.5 billion (~$26.398,125) secured in debt from BlackSoil, Trifecta Capital, InnoVen Capital India, and Alteria Capital. Euler Motors will use the funding to scale its manufacturing capabilities, expand operations across India, and broaden its product portfolio to meet evolving customer needs.

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.