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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-trina-solar-secures-235-million-loan/" target="_blank" rel="noopener">Mercom Capital Group</a>
Trina Solar, a solar module manufacturer, and smart energy solutions provider <a href="https://mercomcapital.com/trina-solar-secures-235-million-loan-solar-pv-manufacturing-plant/" target="_blank" rel="noopener">secured</a> a $235 million non-recourse senior secured term green loan facility from Standard Chartered to support the development, construction, and operation of a 1.35 million square foot solar photovoltaic manufacturing plant in Wilmer, Texas. Standard Chartered served as the sole lead structuring bank and book-runner for the financing.
Powerdot, a provider of EV charging solutions, has <a href="https://mercomcapital.com/powerdot-secures-180-million-green-financing/" target="_blank" rel="noopener">secured</a> €165 million (~$180 million) in green financing from ABN Amro, BNP Paribas, ING, MUFG Bank, Santander, and Société Générale. The €165 million (~$180 million) green financing facility – with an additional €60 million (~$65.5 million) of the uncommitted accordion facility – will be used to expand Powerdot’s network of EV charging points to reach more than 3,100 locations by 2026, enhance the technology and user experience, and grow and develop its team.
Electric vehicle charger manufacturer Exicom Tele-systems <a href="https://www.mercomindia.com/exicom-to-acquire-australia-based-ev-charger-company-tritium" target="_blank" rel="noopener">announced</a> it is acquiring Tritium, an Australia-based manufacturer of DC fast chargers. Tritium has a presence in 47 countries. Exicom will gain access to Tritium’s manufacturing facility in Tennessee, U.S., and an engineering center in Brisbane, Australia. Tritium has sold over 13,000 DC fast chargers. It designs and manufactures proprietary hardware and software to create liquid-cooled DC fast chargers for electric vehicles.
Allego, an electric vehicle charging solutions provider, <a href="https://mercomcapital.com/ev-charging-provider-allego-secures-22-million-loan/" target="_blank" rel="noopener">secured</a> a €20 million (~$22 million) loan from the European Bank of Reconstruction and Development. This funding is a part of the CROSS-E project co-funded by the European Union. Allego plans to deploy over 200 light and heavy-duty vehicle (LDV /HDV) EV recharging points across over 50 strategic locations in Poland. The project in Poland is co-funded by the EU’s Connecting Europe Facility program, supporting European transport infrastructure projects along the TEN-T Network and in Urban Nodes.
Electric vehicle battery manufacturing company Neuron Energy has <a href="https://www.mercomindia.com/ev-battery-manufacturer-neuron-energy-raises-%E2%82%B9200-million" target="_blank" rel="noopener">raised</a> ₹200 million (~$2.4 million) in a Series A funding from investors, including the Chona Family and Capri Global Family Office. The funds will be used to bolster Neuron’s research and development capabilities. This will include establishing an R&amp;D laboratory in Pune and a manufacturing facility in Delhi, India. The company aims to clock ₹1.5 – 2 billion (~$17.86 – 23.81 million) in revenue in the current fiscal year.
Wind turbine manufacturer Suzlon Energy has <a href="https://www.mercomindia.com/suzlon-acquires-majority-renom-energy-services" target="_blank" rel="noopener">announced</a> the acquisition of a 76% stake in Renom Energy Services, a multi-brand renewable energy operations and maintenance service company. The acquisition will be completed in two tranches, with Suzlon initially acquiring a 51% stake for ₹4 billion (~$47.6 million), followed by an additional 25% stake within 18 months for ₹2.6 billion (~$30.9 million).
SYSO, a market operations service provider dedicated to renewable and energy storage assets, has <a href="https://mercomcapital.com/syso-secures-14-5-million-in-series-b-funding/" target="_blank" rel="noopener">raised</a> $14.5 million in Series B funding led by Kimmeridge, an alternative asset manager specializing in the energy sector, with participation from existing SYSO investor Lacuna Sustainable Investments. The funding will be used to expand into new markets and improve its service for developers and independent power producers for the energy transition across the power sector.
Electric vehicle manufacturer Kinetic Green <a href="https://www.mercomindia.com/ev-manufacturer-kinetic-green-raises-25-million-from-gpc" target="_blank" rel="noopener">secured</a> a ₹2.09 billion (~$25 million) investment from private equity firm Greater Pacific Capital, as part of an overall targeted Series A fundraiser of up to $40 million. The company plans to use the funds to scale production at its manufacturing facility in India, market and distribute its current products, including the newly launched ELuna, and research and develop new products.
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>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-ugowork-raises-51-million-in-funding" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Trina Solar Secures $235 Million Loan

From: <a href="https://mercomcapital.com/funding-and-ma-roundup-shell-inspire-energy/" target="_blank" rel="noopener">Mercom Capital Group</a>
Shell New Energies US, a subsidiary of Royal Dutch Shell, <a href="https://www.prnewswire.com/news-releases/shell-to-buy-inspire-energy-capital-expanding-renewable-power-business-in-the-united-states-301342387.html" target="_blank" rel="noopener">signed</a> an agreement to buy 100% of the equity interests of Inspire Energy Capital, a renewable energy residential retailer. Inspire offers renewable energy to customers via a variety of innovative services and subscription plans and incentivizes customers to manage energy usage via a rewards program within its mobile app.
Allego, an electric vehicle (EV) charging network, <a href="https://www.businesswire.com/news/home/20210728005497/en/Allego-a-Leading-Pan-European-EV-Charging-company-to-Become-a-Publicly-Traded-Company-through-a-Business-Combination-with-Apollo-Affiliated-Spartan-Acquisition-Corp.-III/?feedref=JjAwJuNHiystnCoBq_hl-YKT6SDyMw5Lye4ovXwHmkqD8R-QU5o2AvY8bhI9uvWSD8DYIYv4TIC1g1u0AKcacnnViVjtb72bOP4-4nHK5idAXrgr_e1ZUbxvK6BY66Xm" target="_blank" rel="noopener">announced</a> a business combination with Spartan Acquisition Corp. III, a publicly-listed special purpose acquisition company. The transaction will create a publicly traded pan-European EV charging company. Upon completing the proposed transaction, the combined company will operate under the Allego name and be listed on the New York Stock Exchange under the ticker symbol &#8220;ALLG.&#8221; The transaction values Allego at a pro forma equity value of around $3.14 billion.
Nofar Energy, a global renewable energy power producer, <a href="https://newsdirect.com/news/nofar-energy-one-of-israels-leading-renewable-energy-companies-acquired-67-of-the-rights-to-blue-sky-utility-for-a-total-consideration-of-91m-171072864" target="_blank" rel="noopener">acquired</a> 67% of the interest in Blue Sky Utility, a Commercial and Industrial solar and storage developer for a total consideration of $91 million. The acquisition capital will be divided between $26 million of initial purchase and equity injection into Blue Sky and a debt facility of $65 million provided for future growth investments.
Eni, an integrated energy company through Eni gas e luce, <a href="https://www.eni.com/en-IT/media/press-release/2021/07/eni-acquires-solar-plants-spain-france-taking-over-dhamma-energy-group.html" target="_blank" rel="noopener">acquired</a> the Dhamma Energy Group from the relevant funding partners. The company holds a platform for the development of solar plants in France and Spain. Dhamma&#8217;s asset portfolio comprises a pipeline of projects at various stages of development for almost 3 GW in both countries and includes plants already in operation or advanced development in France for around 120 MW.
Standard Solar, a company in the development, funding, ownership, and operation of commercial and community solar assets, <a href="https://standardsolar.com/news/standard-solar-acquires-35-megawatt-solar-project-portfolio-in-maine/" target="_blank" rel="noopener">acquired</a> 35 MW of new net energy billing solar projects in Maine. Standard Solar is funding the projects and will be the long-term owner and operator. All five projects are expected to commence construction over the next 12 months.
Etrion Corporation, a solar independent power producer, <a href="https://www.globenewswire.com/news-release/2021/07/28/2270006/0/en/Etrion-Completes-Sale-of-the-9-5-MW-Misawa-Solar-Project-to-Japanese-Consortium-for-JPY-1-5-billion-cash-consideration.html" target="_blank" rel="noopener">completed</a> the sale of its interests in the company&#8217;s 9.5 MW Misawa operating solar energy project to a Japanese company, GK Misawa Solar, for gross proceeds of JPY 1.5 billion (~$13.6 million).
TotalEnergies, a broad energy company, <a href="https://totalenergies.sg/newsroom/singapore-totalenergies-acquires-largest-electric-vehicle-charge-points-network" target="_blank" rel="noopener">signed</a> an agreement with Bolloré Group to acquire Blue Charge. Upon the approval of the relevant authorities, TotalEnergies will manage and operate the largest electric vehicle charging network in Singapore, with more than 1,500 charge points installed in the city-state.
PowerTap Hydrogen Capital, through its wholly-owned subsidiary PowerTap Hydrogen Fueling Corp., focused on installing hydrogen production and dispensing fueling infrastructure, <a href="https://www.globenewswire.com/news-release/2021/07/27/2269066/0/en/PowerTap-Acquires-49-of-AES-100-Inc-a-Green-Hydrogen-Technology-Company-Focused-on-Fuel-Cells-for-the-Transportation-Industry.html" target="_blank" rel="noopener">acquired</a> 49% of AES-100, the owner of exclusive rights and all intellectual property about the Advanced Electrolyzer System (AES), a novel electrochemical technology that selectively recovers high purity hydrogen from dilute syngas streams.
KKR, a global investment firm, <a href="https://www.businesswire.com/news/home/20210726005773/en/KKR-Acquires-Three-Self-Storage-Facilities-in-Austin-and-Nashville" target="_blank" rel="noopener">acquired</a> three self-storage properties located in Austin, Texas, and Nashville, Tennessee. The properties include around 1,800 storage units and were built between 2019 and 2020. They were acquired through separate transactions with two different sellers for an aggregate purchase price of approximately $36 million.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://mercomindia.com/funding-and-ma-roundup-daqo-stock-exchange/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Shell to Buy Residential Renewables Retailer Inspire Energy

<a href="https://www.allego.eu/" target="_blank" rel="noopener">Allego</a>, an electric vehicle (EV) charging network company, has signed an agreement for a business combination with <a href="https://www.spartanspaciii.com/" target="_blank" rel="noopener">Spartan Acquisition Corp III</a>, a special purpose acquisition company (SPAC), resulting in Allego becoming a publicly listed company.
The new company, which will be listed on the New York Stock Exchange under the ticker ‘ALLG’, will have a market value of around $3.14 billion. The transaction is expected to be completed in the fourth quarter of 2021.
The transaction is estimated to provide $702 million in gross proceeds to the company. The proceeds include $552 million of cash held in trust and $150 million at $10 per share of a fully committed common stock private investment in public equity. The proceeds will be utilized to fund the EV charging stations’ capital expenditure and general corporate purposes.
Landis+Gyr, funds, and accounts managed by Hedosophia and ECP investment funds managed by affiliates of Apollo Global Management, and Meridiam anchored the private investment in public equity. Fisker, a designer of EVs and mobility solutions, also committed to making a $10 million private investment in public equity. Fisker also agreed to enter into a strategic partnership with Allego to provide a range of EV charging options for its consumers in Europe.
The company said <a href="https://www.meridiam.com/en/" target="_blank" rel="noopener">Meridiam</a>, an existing shareholder of Allego, would roll 100% of equity and retain 75% of the combined company. In addition, it would continue to be a long-term strategic partner of the combined company.
According to Allego, the company has over 26,000 public EV charging ports across 12,000 public and private locations in 12 European countries.
Mathieu Bonnet, Chief Executive Officer of Allego, said, “We are excited to announce our strategic partnership with Spartan, which will provide capital to accelerate our leadership position within the European charging market, all while maintaining a strong financial position throughout the growth phase.”
“Europe has one of the largest populations of EVs in the world, which is continuing to grow at a greater pace than many other major growth markets, including the United States. Supported by these tailwinds and bolstered by the capital we are raising, we are well-positioned to expand our footprint as EVs increasingly replace traditional internal combustion engines,” Bonnet added.
Last month, EV charging solutions provider Wallbox Chargers and Kensington Capital Acquisition Corp. II <a href="https://mercomindia.com/ev-charging-firm-wallbox-public/" target="_blank" rel="noopener">agreed</a> to combine their businesses, converting Wallbox into a publicly listed company.
According to Mercom Capital Group’s latest report, <a href="https://mercomcapital.com/product/1h-q2-2021-funding-ma-report-storage-grid-efficiency/" target="_blank" rel="noopener">1H and Q2 2021 Funding and M&amp;A Report for Storage, Grid, and Efficiency</a>, smart charging companies raised $271 million in eight deals in the first half of 2021.

EV Charging Company Allego to Go Public in a $3.14 Billion SPAC Deal

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