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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-green-gravity-raises-6-million-series-a-funding/" target="_blank" rel="noopener">Mercom Capital Group</a>
Green Gravity, a gravity-based energy storage solutions developer, <a href="https://mercomcapital.com/green-gravity-raises-6-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> AU$9 million (~$6 million) in a Series A funding to complete product development for its gravitational energy storage technology. The funding was led by HMC Capital, BlueScopeX, Pacific Channel, Sumisho Coal Australia Holdings, and other key institutional investors.
BNZ, a solar project developer and an independent power produce, <a href="https://mercomcapital.com/solar-project-developer-bnz-secures-over-744-million-in-funding/" target="_blank" rel="noopener">announced</a> that it has completed its first Total IPP Financing for over €680 million (~$744 million) in several countries. The funding includes a senior debt facility and ancillary credit facilities of €420 million (~$459 million), secured by Clean Energy Fund III of Nuveen’s portfolio from a group of financial institutions formed by the European Investment Bank, ABN AMRO, Intesa Sanpaolo, NatWest, SMBC, and Bankinter with Palmer acting as an agent.
NW, an energy storage project developer and energy transition group, has <a href="https://mercomcapital.com/energy-storage-developer-nw-secures-466-million-in-debt-financing/" target="_blank" rel="noopener">secured</a> € 430 million (~$466 million) in non-recourse bank financing from Santander CIB and Rabobank. The funding will enable the company to develop and upgrade the JBox-distributed electricity storage unit and establish more than 2GWh of energy storage projects in Finland and France by the end of 2025.
Roofsol Energy, a Maharashtra-based rooftop solar EPC services provider, has <a href="https://www.mercomindia.com/roofsol-energy-raises-%E2%82%B9255-million-through-equity-funding" target="_blank" rel="noopener">raised</a> ₹255 million (~$3.03 million) in its inaugural round of equity funding. The funds were raised through private placements from high net-worth individuals led by fund manager Equity4life IH Analytics. Roofsol Energy plans to utilize the funds to accelerate the development of OPEX business for developing solar assets in subsidiary companies.
Multi-business conglomerate Adani Enterprises has <a href="https://www.mercomindia.com/adani-42-billion-qip" target="_blank" rel="noopener">completed</a> a Qualified Institutional Placement (QIP) of equity shares, each with a face value of ₹1 (~$0.012), raising around ₹42 billion (~$500 million). A total of 14,179,608 equity shares were issued at a price of ₹2,962 (~$35) per share through the QIP. Proceeds from the QIP will be used to fund capital expenditures, repay debt, and support general corporate purposes.
Karnataka-based solar project developer Ravindra Energy has <a href="https://www.mercomindia.com/ravindra-energy-raises-%E2%82%B91-79-billion-through-sale-of-24-3-million-shares" target="_blank" rel="noopener">raised</a> ₹1.79 billion (~$21.29 million) by selling 24.3 million equity shares. The Securities and Exchange Board of India approved the allotment of 24.3 equity million shares at a face value of ₹10 (~$0.11) per equity share and a premium of ₹64 (~$0.76) per equity share on a preferential basis.
Azure Power Global has <a href="https://www.mercomindia.com/azure-prepays-350-million-debt-after-refinancing-deal-with-rec" target="_blank" rel="noopener">announced</a> the completion of its ₹24 billion (~$285.54 million) refinancing transaction, structured as a term loan underwritten by REC Limited. Following this transaction, the company has prepaid its green bonds, issued in 2019 for $350 million and backed by ten solar projects commissioned between 2016 and 2019.
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’s funding <a href="https://mercomcapital.com/funding-ma-roundup-form-energy-raises-405-million-series-f-funding/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Green Gravity Raises $6 Million in Series A Funding

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-ib-vogt-solar-project-spain-2/" target="_blank" rel="noopener">Mercom Capital Group</a>
ib vogt, a solar and energy storage project developer, <a href="https://mercomcapital.com/ib-vogt-sells-110-mw-solar-project-in-spain/" target="_blank" rel="noopener">announced</a> the sale of its 110 MW Pato solar project in Spain to NextPower V ESG, an OECD Fund of NextEnergy Capital. Construction of the solar project began in March 2024. The solar project is expected to be commercially operational in the first quarter of 2025 and has a signed power purchase agreement with an industrial innovator.
Alight, an independent solar power producer, announced the financial <a href="https://mercomcapital.com/alight-secures-123-million-debt-financing-for-solar-projects-in-sweden/" target="_blank" rel="noopener">closure</a> of €110 million (~$122.56 million) senior debt portfolio financing with the Dutch lender Rabobank. The funding will be used to build, own, and operate small to medium solar projects (up to 50 MW) with a combined capacity of about 220 MW in Sweden.
The European Investment Bank (EIB) and BNZ, a solar project developer owned by Nuveen Infrastructure, <a href="https://mercomcapital.com/bnz-secures-185-million-green-loan-for-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the signing of a €166 million (~$184.68 million) green loan to support the development of 17 new solar projects with a combined capacity of more than 700 MW located across Spain, Italy, and Portugal.
Sonnedix, an independent solar power producer, announced the <a href="https://mercomcapital.com/sonnedix-acquires-80-mw-solar-project-in-italy/" target="_blank" rel="noopener">acquisition</a> of an 80 MW solar project in Sicily, Italy, from Blunova, a renewable energy project developer and the sub-holding of Carlo Maresca Group. Following the acquisition, the company will acquire ten operating plants totaling 250 MW from Blunova in Southern Italy.
Arevon Energy, a solar and energy storage project developer, <a href="https://mercomcapital.com/arevon-secures-351-million-financing-for-251-mw-solar-project/" target="_blank" rel="noopener">announced</a> the closing of $351 million financing to build the 251 MWdc Gibson Solar Project, located in Gibson County, Indiana. Construction on the Gibson solar project began last month. The funding consisted of a construction loan from CoBank, Societe Generale, and PNC Bank, along with a letter of credit facility provided by CoBank.
Zelestra (formerly Solarpack), a renewable energy project developer, has <a href="https://www.mercomindia.com/zelestra-closes-146-million-financing-for-453-mw-solar-project-in-rajasthan" target="_blank" rel="noopener">closed</a> a financing package of €132 million (~$146 million) for a 453 MW solar PV project in Gorbea, Rajasthan. The project will supply power to the Solar Energy Corporation of India for 25 years. The financing was signed with HSBC, Credit Agricole, MUFG, and Bank of America.
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.
Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-atlas-secures-financing-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: ib vogt Sells 110 MW Solar Project in Spain

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