MNRE Hikes National Bioenergy Program Budget by ₹1.4 Billion

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CERC Proposes Tightening Grid Deviations by Renewable Energy Projects

Rajasthan Electronics Tenders 5 MW Rooftop Solar Project in Jammu and Kashmir

Servotech Bags Contract for 1.2 MW Rooftop Solar From Northern Railway

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Daily News Wrap-Up: Uncertainty Hits Solar Open Access Growth in Telangana

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Thailand Invites Bids for 280 MW Floating Solar Project at Srinagarind Dam

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-group14-technologies-raises-463-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Group14 Technologies, a manufacturer of silicon-anode battery technology, <a href="https://mercomcapital.com/group14-technologies-raises-463-million-in-series-d-funding/" target="_blank" rel="noopener">raised</a> $463 million in a Series D funding, led by SK Inc., with participation from existing investors. The new capital will be used to scale up production of Group14’s silicon battery material, SCC55, in both the U.S. and South Korea, aiming to tackle the growing global demand for energy storage solutions. In addition, Group14 has taken full ownership of its joint venture with SK Inc. in Sangju, South Korea. 
ABO Energy, a renewable energy project developer, has <a href="https://mercomcapital.com/abo-energy-closes-280-million-syndicated-loan-agreement/" target="_blank" rel="noopener">closed</a> a syndicated loan agreement for €240 million (~$280 million) with the participation of seven banks. Commerzbank led the financing and acted as sole bookrunner and agent. Clifford Chance acted as legal advisor to the banks, while Noerr PartGmbB acted as legal advisor to ABO Energy. As per the agreement, the financing volume is divided equally between traditional loans, revolving working capital facilities, and guarantee lines.
One Stop Warehouse, a solar wholesaler and distributor, has <a href="https://mercomcapital.com/solar-distributor-osw-raises-funding/" target="_blank" rel="noopener">secured</a> A$8.5 million (~$5.5 million) in strategic funding from SparkEdge Capital, a venture capital firm based in Shanghai focused on the energy and technology sectors. The funding will be used to support the company in its next phase of international growth in key solar markets, including the U.S., Mexico, Spain, and Romania. Currently, apart from Australia, the company has built its presence across Europe, especially in the Netherlands and Poland.
CrossBoundary Energy, a developer, owner, and operator of distributed renewable energy, has <a href="https://mercomcapital.com/crossboundary-energy-secures-impact-fund-denmark/" target="_blank" rel="noopener">secured</a> a $40 million equity-like capital investment from Impact Fund Denmark. The funding will help the company expand its portfolio of clean energy projects in Africa. Currently, the company is constructing a solar/BESS baseload plant in Africa after signing a commercial and industrial PPA with Kamoa Copper SA, a copper mine in the Democratic Republic of Congo.
Power converter manufacturer Statcon Energiaa has <a href="https://www.mercomindia.com/rotomag-acquires-51-stake-in-power-converter-manufacturer-statcon" target="_blank" rel="noopener">secured</a> an investment from Rotomag Enertec, providing the latter with a 50.99% stake in the company. The two companies aim to develop and deploy MW-scale battery energy storage systems (BESS), among other things, following the investment’s finalization. Statcon Energiaa designs, manufactures, and commercially sells on-grid solar inverters. Its solutions cater to green hydrogen, railways, defense, and the power sectors.
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-activ8-energies-acquires-low-carbon-energy" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Group14 Technologies Raises $463 Million

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-crossboundary-energy-secures-140-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
CrossBoundary Energy, a renewable energy developer, <a href="https://mercomcapital.com/crossboundary-energy-secures-senior-debt-financing/" target="_blank" rel="noopener">secured</a> a $140 million senior debt commitment from the Standard Bank of South Africa on a fully underwritten basis. The funding is being undertaken as a first tranche within a broader mandate with the Standard Bank of South Africa, which has been appointed to lead and arrange up to $300 million in senior debt. With this funding, the company plans to scale up its renewable energy portfolio and serve commercial and industrial (C&amp;I) clients across Africa.
AMPECO, a software platform for electric vehicle (EV) charging solution providers, <a href="https://mercomcapital.com/ev-charging-software-provider-ampeco-raises-26-million/" target="_blank" rel="noopener">raised</a> $26 million in a Series B funding round led by Revaia, along with existing investors Cavalry Ventures, BMW i Ventures, and LAUNCHub Ventures. The latest round brings the company’s total funding to $42 million. The funding will be used to fuel the company’s growth plans while accelerating product enhancements and expanding into key markets like Western Europe, the Nordics, the UK, North America, and Southeast Asia.
India-based Rajesh Power Service, a renewable and non-renewable energy solutions provider, has gone <a href="https://www.mercomindia.com/rajesh-powers-ipo-gets-shares-list-at-90-premium" target="_blank" rel="noopener">public</a> with its Initial Public Offering (IPO) on the BSE SME platform. The IPO received an overwhelming response, with the issue being subscribed 59 times when it closed on November 27, 2024, and raised ₹1.6 billion (~$18.8 million). The company’s shares were listed at a substantial 90% premium over the IPO price on December 2, 2024, opening at ₹636.50 (~$7.51) per share compared to the issue price of ₹335 (~$3.95).
FPR Energy, a venture from CSIRO, Australia’s national science agency, has <a href="https://mercomcapital.com/fpr-energy-secures-10-million-in-seed-funding/" target="_blank" rel="noopener">secured</a> A$15 million (~$10 million) in seed funding to commercialize next-generation solar thermal technology. The company was launched in collaboration with advisory and funds management firm RFC Ambrian and electric utility Osaka Gas. FPR Energy aims to cut emissions in heavy industries such as minerals refining, steel, cement, and chemical production using CSIRO’s particle-based Concentrated Solar Thermal (CST) technology.
Reefilla, a startup that provides mobile and predictive charging delivery service for electric vehicles, has <a href="https://mercomcapital.com/reefilla-receives-4-8-million-funding-to-develop-second-life-batteries/" target="_blank" rel="noopener">secured</a> €4.5 million (~$4.8 million) in funding. CDP Venture Capital led the round through the Green Transition-PNRR Fund, financed with NextGeneration EU resources. The company states that this funding will be used for R&amp;D to transform end-of-life batteries into second-life batteries, which can be used in energy storage and mobile charging.
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-silfab-solar-million" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: CrossBoundary Energy Secures $140 Million

The Overseas Private Investment Corporation (<a href="https://www.opic.gov/" target="_blank" rel="noopener">OPIC</a>), a United States Government agency, has provided 600 million shillings (~$5.86 million) to CrossBoundary Energy, a Nairobi-based company which funds commercial and industrial solar in East Africa.
In a release CrossBoundary Energy stated, “We’re humbled that the OPIC has recognized our investment platform for commercial and industrial solar in Sub-Saharan Africa, CrossBoundary Energy, as a pioneer in the provision of solar energy across the continent. The debt financing from OPIC, allows us to extend the provision of affordable, cleaner and more reliable energy across Sub-Saharan Africa and bolster the mission of Power Africa.”
According to a report in Business Daily Africa, “The fresh capital is a debt secured by expected earnings from upcoming projects as well as earnings from past projects such as the Garden City Mall (Nairobi) solar installation, Unilever Tea Kenya (Kericho), Unilever Ghana, Guinness Ghana, The Coca-Cola Bottling Company of Ghana and Bralirwa Brewery in Gisenyi, Rwanda.”
The report quoted, OPIC head Ray Washburne stating that the funds will enable CrossBoundary Energy to implement six projects at various corporate sites in Kenya, Rwanda and Ghana producing a total of 5.75 MW.
CrossBoundary co-managing partner Matthew Tilleard hailed OPIC’s commitment saying it will help the identified companies reduce reliance on the national grid and access affordable solar power that is environmental-friendly.
Prior to this, <a href="https://mercomindia.com/opic-commits-25-million-off-grid-solar-asia-africa/" target="_blank" rel="noopener">in September 2018</a>, OPIC committed $25 million in financing to the Solar Energy Transformation Fund LLC, which will provide loans to companies developing off-grid solar products and solutions for the millions of people in Sub Saharan Africa and Asia who lack access to electricity.
<a href="https://mercomindia.com/opic-loan-5-million-grameen-impact/" target="_blank" rel="noopener">In June 2018</a>, OPIC signed a $5 million loan guarantee with India’s IndusInd Bank. The money will support Grameen Impact, a non-bank financial institution (NBF) backed by Grameen Capital India (GII) in its focus on the growth of local small and medium enterprises.

OPIC provides $5.8 million to Solar Installation Company CrossBoundary Energy in Africa

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