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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-zero-industrial-raises-10-million-in-series-a-funding/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Zero Industrial, a thermal energy storage solution provider, <a href="https://mercomcapital.com/zero-industrial-raises-10-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> $10 million in Series A funding</strong> led by Evok Innovations with participation from Rusheen Capital Management. The company plans to use the funding to accelerate the development of its thermal energy storage solutions in North America. Zero Industrial develops industrial decarbonization projects that utilize thermal energy storage solutions and offers its customers project development services.</p>
<p><strong>Solar energy financing firm Aerem </strong><a href="https://www.mercomindia.com/solar-financing-firm-aerem-raises-%E2%82%B91-billion-from-japan-based-utec" target="_blank" rel="noopener"><strong>secured</strong></a><strong> ₹1 billion (~$11.7 million) from Japan-based venture capital firm</strong> <strong>University of Tokyo Edge Capital Partners</strong> in a Series A funding round. Other investors in the funding included British International Investment, SE Ventures, and Riverwalk Holdings. Existing investors, Blume Ventures and Avaana Capital, also participated in this round. The funding will be utilized to drive the company’s distribution growth across India and solidify its presence in existing markets.</p>
<p><strong>Transmission utility Power Grid Corporation of India (POWERGRID) </strong><a href="https://www.mercomindia.com/powergrid-to-raise-%E2%82%B960-billion-via-private-placement-of-bonds" target="_blank" rel="noopener"><strong>announced</strong></a><strong> it would raise up to ₹60 billion (~$720 million)</strong> <strong>through a private placement of bonds.</strong> The eighty-first issue of POWERGRID bonds (2025-26) includes a greenshoe option of ₹45 billion (~$540 billion) and a base issue size of ₹15 billion (~$180 million). The bonds will be unsecured, non-convertible, non-cumulative, redeemable, and taxable. These bonds will carry a 10-year tenure. Interest payments on the bonds will be made annually. The coupon or interest payments on the bond will be made through the bidding process on the electronic book provider platform.</p>
<p><strong>Energy utility E.ON UK announced that it has signed an agreement to fully <a href="https://mercomcapital.com/e-on-uk-to-acquire-eco2solar/" target="_blank" rel="noopener">acquire</a> Eco2Solar, a residential and commercial solar installation company</strong>. E.ON UK already acquired a 49% stake in Eco2Solar back in December 2020. The acquisition’s financial terms were undisclosed. It is expected to combine the operational strengths of E.ON UK and Eco2Solar to enable further growth in the solar installation market.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-apricus-generation-secures-30-million" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Zero Industrial Raises $10 Million


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-potentia-energy-acquires-renewable-projects/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Potentia Energy, a renewable energy developer co-owned by Enel Green Power and INPEX, </strong><a href="https://mercomcapital.com/potentia-energy-acquires-over-1-gw-of-renewable-energy-projects/" target="_blank" rel="noopener"><strong>completed</strong></a><strong> the acquisition of controlling stakes in a renewable energy portfolio</strong> exceeding 1 GW across Australia. The assets were acquired from infrastructure investor CVC DIF and superannuation fund Cbus Super. The acquisition also includes shares in Bright Energy Investments, a joint venture with Synergy, owned by the Western Australian state government.</p>
<p><strong>AIP Management, a Nordic-based investment manager in diversified decarbonization infrastructure, </strong><a href="https://mercomcapital.com/aip-management-to-acquire-49-99-stake-in-solar-and-storage-project/" target="_blank" rel="noopener"><strong>agreed</strong></a><strong> to acquire a 49.99% equity stake in the 300 MW solar</strong> with a co-located 200 MW/400 MWh battery energy storage Pine Forest project from Clearway Energy Group, a utility-scale renewable energy and storage project developer. The project is in the ERCOT North market region in Texas. The total investment is approximately $200 million. The project is currently under construction and is expected to commence operations in the fourth quarter of 2025.</p>
<p><strong>Greenali</strong><strong>a, a renewable energy project developer, has <a href="https://mercomcapital.com/greenalia-secures-financing-misae-ii-solar-project/" target="_blank" rel="noopener">secured</a> a $295 million construction-to-term loan and $93 million letter of credit facility</strong> from Mitsubishi UFJ Financial Group and Nomura Securities International for developing the 430 MWdc/331.6 MWac Misae II solar project in Texas. The project has completed 72% of its construction, with commercial operations expected to begin in the third quarter of 2025.</p>
<p><strong>Electricity and heat producer and supplier PGE Energia Ciepła, a PGE Group unit, </strong><a href="https://mercomcapital.com/pge-energia-ciepla-secures-13-m-financing-solar-projects/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> PLN 48.7 million (~$12.61 million) in the form of a preferential loan</strong> from the National Fund for Environmental Protection and Water Management for the construction of seven solar projects with a cumulative capacity of 10.54 MW. The projects are to be built at the company’s six combined heat and power projects in Rzeszów, Kielce, Lublin, Zgierz, Bydgoszcz, and Gorzów Wielkopolski in Poland.</p>
<p><strong>India-based ACME Solar Holdings </strong><a href="https://www.mercomindia.com/acme-solar-secures-%E2%82%B924-91-billion-refinancing-to-cut-debt-costs" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a ₹24.91 billion (~$298.92 million) long-term refinancing facility for 18 to 20 years from the State Bank of India</strong> and REC at a reduced weighted average interest rate of 8.8%. ACME Solar will use the funds to reduce debt costs for its 490 MW renewable energy projects in Andhra Pradesh, Rajasthan, and Punjab.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-renewable-power-capital-solar-wind-projects/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Potentia Energy Acquires 1 GW of Renewable Energy Projects

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