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Daily News Wrap-Up: SECI’s 1,000 MW ISTS Solar Auction Results


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-skeleton-technologies-raises-114-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Skeleton Technologies, a manufacturer of ultracapacitor-based energy storage solutions, <a href="https://mercomcapital.com/supercapacitor-skeleton-technologies-raises-million/" target="_blank" rel="noopener">raised</a> €108 million (~$114 million)</strong> in a funding Series E1 round to expand the company’s product development and finance the manufacturing expansion for supercapacitors. The round saw participation from Siemens Financial Services (SFS), Marubeni Corporation, Berkshire Hathaway, and Brazilian mining company CBMM. With the concluded Round E1, Skeleton&#8217;s total funding exceeds €300 million (~$316 million).</p>
<p><strong>Renewable energy solutions provider KPI Green Energy is </strong><a href="https://www.mercomindia.com/kpi-green-acquire-majority-stake-kpark-sunbeat" target="_blank" rel="noopener"><strong>acquiring</strong></a><strong> a 99.9% equity stake in solar power developer KPark Sunbeat</strong> for a consideration of ₹1.26 billion (~$15.1 million). In a regulatory filing, KPI Green Energy said its board of directors had approved the acquisition of 9,900 equity shares of KPark Sunbeat in a related party transaction. KPI has been consolidating the solar projects of the KP Group into a single entity, KPI Green Energy.</p>
<p><strong>myenergi, a manufacturer of eco-smart home technology in the UK, <a href="https://mercomcapital.com/smart-home-company-myenergi-gets-36-million/" target="_blank" rel="noopener">secured</a> an investment of £30 million (~$36 million)</strong> from Energy Impact Partners. The investment will help the company’s growth and internationalization plans. The company had raised another debt financing earlier this year from HSBC. Jefferies, a leading global full-service investment banking and capital markets firm, acted as Sole Financial Advisor to myenergi.</p>
<p><strong>raicoon, a provider of AI-based solutions for autonomous solar operations, </strong><a href="https://mercomcapital.com/autonomous-solar-ai-company-raicoon-raises/"><strong>raised</strong></a><strong> €4 million (~$4.2 million)</strong> in a seed funding round. Premier climate, tech, and impact funds PUSH VC, Voltares, and a private family office contributed to the strategic funding round. The company plans to use the funding to tap into new markets and enhance its product offering.</p>
<p><strong>Birla Carbon, a group company of the diversified Aditya Birla Group, has </strong><a href="https://www.mercomindia.com/birla-carbon-acquires-battery-materials-nanocyl" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> Nanocyl</strong>, a multi-wall carbon nanotube manufacturer based in Sambreville, Belgium. The acquisition will help Birla Carbon, a manufacturer and supplier of carbon black, expand its presence in materials critical to lithium-ion battery performance. Birla Carbon provides sustainable carbon black solutions that enhance the performance of energy systems, among other products.</p>
<p><strong>Hyderabad-based rooftop solar solutions company Freyr Energy has <a href="https://www.mercomindia.com/rooftop-solar-million-equity-investment" target="_blank" rel="noopener">secured</a> an equity investment of $7 million</strong>, which it said will be used to increase the adoption of solar energy among retail customers in India. The funding round was led by EDFI ElectriFI, a European Union-funded impact investment facility managed by EDFI Management Company, which contributed $3 million to the investment.</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/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-mecaware-raises-42-million/" target="_blank" rel="noopener">roundup</a></p>


Funding and M&A Roundup: Skeleton Technologies Raises $114 Million


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					</table><p><strong><a href="https://www.mercomindia.com/solar-auctions-up-86-tenders-rise-5-yoy-q3-2023" target="_blank" rel="noopener">Solar power project tenders floated by multiple implementing agencies in India rose 5% year-over-year to over 13 GW during the third quarter of the calendar year 2023, according to</a></strong> Mercom India Research. Tender announcements were flat quarter-over-quarter from July to September. The pace of tender announcements has failed to accelerate even after the government issued the 50 GW renewable energy trajectory target for financial years 2024-28.</p>
<p><strong><a href="https://www.mercomindia.com/madhya-pradesh-rooftop-solar-power-systems" target="_blank" rel="noopener">Madhya Pradesh Skills Development Project has invited bids for the implementation of approximately 3.6 MW of grid interactive rooftop solar systems.</a></strong> These projects will be implemented under the RESCO model, and the power generated will be sold to select institutions in Madhya Pradesh. The last date for the submission of bids is November 29, 2023. Bids will be opened on the next day.</p>
<p><a href="https://www.mercomindia.com/insurance-prominence-wind-solar-hybrid-projects-centerstage" target="_blank" rel="noopener"><strong>Wind-solar hybrid projects are a practical solution to tackle the intermittency issues of standalone wind and solar energy sources and are poised to play a critical role as a generation source going</strong></a> forward. When combined, the two renewable energy sources maximize electricity generation, strengthen grid reliability, and optimize land utilization. According to Mercom India Research, India has an installed hybrid renewable energy capacity of 3.6 GW and a pipeline of about 31 GW, including battery storage projects.</p>
<p><a href="https://www.mercomindia.com/kpi-green-acquire-majority-stake-kpark-sunbeat" target="_blank" rel="noopener"><strong>Renewable energy solutions provider KPI Green Energy is acquiring a 99.9% equity stake in solar power developer KPark Sunbeat for a consideration of ₹1.26 billion (~$15.1 million).</strong></a> In a regulatory filing, KPI Green Energy said its board of directors had approved the acquisition of 9,900 equity shares of KPark Sunbeat, a related party transaction. KPI has been consolidating the solar projects of the KP Group into a single entity, KPI Green Energy. Upon completion of the transaction, KPark will become a group subsidiary.</p>
<p><strong><a href="https://www.mercomindia.com/birla-carbon-acquires-battery-materials-nanocyl" target="_blank" rel="noopener">Birla Carbon, a group company of the diversified Birla Group, has acquired Nanocyl, a multi-wall carbon nanotube manufacturer based in Sambreville, Belgium.</a></strong> The acquisition will help Birla Carbon, a manufacturer and supplier of carbon black, expand its presence in materials critical to lithium-ion battery performance. Birla Carbon provides sustainable carbon black solutions that enhance the performance of energy systems, among other products.</p>
<p><a href="https://www.mercomindia.com/reduced-cost-residential-solar-growth-in-the-us" target="_blank" rel="noopener"><strong>New residential solar installations in the U.S. had a median size of 7.2 kW in 2022, a significant jump from the 2.4 kW seen in 2000, thanks to cost reductions and improved module efficiencies,</strong> </a> according to the Lawrence Berkeley National Laboratory. This trend is heavily influenced by California, which contributes significantly to the data even if it has smaller residential system sizes. In most states, the median size of residential photovoltaic systems in 2022 exceeded 8 kW, with many states exceeding 9 kW.</p>


Daily News Wrap-Up: Solar Auctions Up 86%, Tenders Rise 5% YoY in Q3 2023


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					</table><p><a href="https://www.birlacarbon.com/" target="_blank" rel="noopener">Birla Carbon</a>, a group company of the diversified Aditya Birla Group, has acquired <a href="https://www.nanocyl.com/" target="_blank" rel="noopener">Nanocyl</a>, a multi-wall carbon nanotube (MWCNT) manufacturer based in Sambreville, Belgium.</p>
<p>The acquisition will help Birla Carbon, a manufacturer and supplier of carbon black, expand its presence in materials critical to lithium-ion battery performance.</p>
<p>Birla Carbon provides sustainable carbon black solutions that enhance the performance of energy systems, among other products.</p>
<p>The company said Nanocyl’s advanced MWCNTs provide Birla Carbon with a range of solutions for conductive applications.</p>
<p>MWCNTs find applications in batteries for electric vehicles (EVs).</p>
<p>The companies did not disclose the value of the acquisition.</p>
<p>Santrupt Misra, Group Director, Birla Carbon, said, “The company is concentrating on investing in sustainability and circularity-driven initiatives led by innovation in order to be future-ready, and this acquisition stems from that. We hope that this partnership will enable Birla Carbon to be a significant player in the emerging energy systems space.”</p>
<p>“Birla Carbon’s R&amp;D expertise, portfolio of products, and market experience will enable Nanocyl and our products to reach their full growth potential,” said Laurent Kosbach, Chief Executive Officer, Nanocyl.</p>
<p>This acquisition is the latest among a slew of global acquisitions in the renewable energy space by Indian companies such as Reliance New Energy Limited, which <a href="https://www.mercomindia.com/reliance-acquires-lithium-werks" target="_blank" rel="noopener">acquired</a> all assets of Lithium Werks, a cobalt-free Lithium Iron Phosphate battery manufacturer, for $61 million in March last year.</p>
<p>According to Wood Mackenzie, the global lithium-ion battery capacity is likely to <a href="https://www.mercomindia.com/global-lithium-ion-battery-capacity-to-increase-five-fold" target="_blank" rel="noopener">rise</a> over five-fold to 5,500 GWh between 2021 and 2030, keeping in count the various pipeline capacities announced to meet the rising demand for batteries. The worldwide EV market accounts for almost 80% of lithium-ion battery demand.</p>


Birla Carbon Acquires Belgium-based Battery Materials Maker Nanocyl

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