India Auctions Eight Critical and Strategic Mineral Blocks in Fourth Tranche

Rajasthan Invites Bids for 500 MW/1000 MWh Standalone BESS

Haryana DISCOM Tenders 27 MW Solar Projects Under PM KUSUM

Daily News Wrap-Up: MNRE Invites Proposals to Set Up Green Hydrogen R&D Facilities

Rising Construction Margin Drives 1,632% YoY Rise in Net Profit for Scatec

Gujarat Waives Domestic Content Requirement for Solar Projects Up to 5 MW

KPI Green’s Revenue Increases 67% YoY in Q2 FY 2025

Ballard Power’s Q3 2024 Loss Rises as Hydrogen Fuel Cell Adoption Slows

EV Startup MOOEV Raises ₹40 Million in Seed Funding Round

MNRE Calls for Proposals to Set Up R&D Facilities for Green Hydrogen

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/05/amazon_polly_66442.mp3?version=1716352731">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-origis-energy-funding-from-kkr/" target="_blank" rel="noopener">Mercom Capital Group</a>
Origis Energy, a vertically integrated renewable energy platform and a solar project developer, <a href="https://mercomcapital.com/origis-energy-secures-corporate-credit-facility-from-kkr/" target="_blank" rel="noopener">secured </a>a $300 million corporate credit facility from global investment firm KKR. Proceeds from the facility will support the continued development and construction of Origis’ pipeline of solar and storage projects. This investment is stated to comply with KKR’s Asset-Based Finance strategy, which focuses on privately originated and negotiated credit investments that are backed by large and diversified pools of financial and hard assets.
Cylib, a Germany-based battery recycling startup, <a href="https://mercomcapital.com/battery-recycling-startup-cylib-secures-60-million-series-a-funding/" target="_blank" rel="noopener">secured</a> €55 million (~$59.79 million) in a Series A funding round co-led by World Fund and Porsche Ventures. The round was joined by Bosch Ventures, DeepTech &amp; Climate Fonds, NRW.Venture, existing investors Vsquared Ventures, Speedinvest, 10x Founders, and established business angels. The total funding raised to date amounts to about €74 million (~$80.43 million). Cylib will use the funds to commercialize its proprietary technology, which is already used by leading OEMs and battery manufacturers.
Bedrock Materials, a startup that designs and develops sodium-ion cathode materials, <a href="https://mercomcapital.com/battery-material-startup-bedrock-secures-in-seed-funding/" target="_blank" rel="noopener">secured</a> $9 million in seed funding. The round was led by Trucks Venture Capital, Refactor Capital, and Version One Ventures. Bedrock Materials specializes in producing essential materials for low-cost, eco-friendly sodium-ion batteries. Last month, the company began R&amp;D scale production of battery precursor materials at its facility in Near West Chicago. Plans are underway to open a larger, permanent site later this year.
Pune-based mobility and energy solutions provider Matel has <a href="https://www.mercomindia.com/mobility-solutions-firm-with-4m-funding" target="_blank" rel="noopener">secured</a> $4 million in Series A financing, spearheaded by Transition VC. Gruhas and Haresh Abichandani, founder of Millennium Semiconductors, also participated in the round. Matel specializes in producing synchronous machines and motor controllers for e-mobility, industrial usage, agricultural pumping, and the heating, ventilation, and air conditioning sector.
Solutions30, a provider of support services related to new digital technologies, has <a href="https://mercomcapital.com/solutions30-acquires-10-stake-in-french-solar-company-so-tec/" target="_blank" rel="noopener">acquired</a> a 10% stake in So-Tec, a company that specializes in constructing solar projects. The acquisition was made alongside So-Tec’s management team. Over the coming years, Solutions30 is set to become the majority shareholder and acquire full ownership of the company within five years. Both companies aim to provide the French market with a “Made in France” offering, capable of addressing both the structural and electrical work packages and taking on the overall management of engineering, procurement, and construction) contracts.
Aerem, an Indian solar financing firm, has <a href="https://www.mercomindia.com/aerem-acquires-spinkaft-ventures" target="_blank" rel="noopener">acquired</a> solar equipment distributor Spinkraft Ventures to create a platform spanning the entire solar energy value chain. The company did not disclose details about the cost of the acquisition. Spinkraft deals in the sales and distribution of solar products across India. By bringing Spinkraft into the fold, Aerem aims to leverage its distribution capabilities to provide complete solar solutions to customers.
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-matrix-renewables-secures-debt-funding/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Origis Energy Secures $300 Million Funding from KKR

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/05/amazon_polly_66439.mp3?version=1716354342">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/project-finance-brief-catalyze-community-solar-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
Catalyze, a solar and energy storage project developer, <a href="https://mercomcapital.com/catalyze-secures-100-million-financing-for-community-solar-projects/" target="_blank" rel="noopener">secured</a> $100 million in financing from NY Green Bank, a division of the New York State Energy Research and Development Authority  for the development of a 79 MW portfolio of community distributed generation solar projects across New York State.
RWE Clean Energy, a renewable energy project developer, <a href="https://mercomcapital.com/rwe-acquires-solar-energy-storage-projects/" target="_blank" rel="noopener">announced</a> the acquisition of 599 MW solar and energy storage projects from Galehead Development, a solar, wind, and energy storage project developer in the U.S. The projects being acquired include two development-stage projects located within PacifiCorp’s operating territory in the Pacific Northwest and a mid-stage development asset in northeastern New York.
Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investing, <a href="https://mercomcapital.com/mirova-acquires-solar-and-energy-storage-project-portfolio-in-spain/" target="_blank" rel="noopener">signed</a> an agreement for the acquisition of solar and energy storage projects in Spain from Q-Impact and Qualitas Energy. The portfolio consists of two solar projects with a total capacity of 60 MW and an energy storage project with a total capacity of 30 MW/ 120 MWh. The projects are in the municipality of Mahon in Menorca Island, Spain.
Apex Clean Energy, a renewable energy project developer, <a href="https://mercomcapital.com/apex-clean-energy-secures-funding-energy-storage-projects/" target="_blank" rel="noopener">secured</a> more than $150 million in project financing for two energy storage projects in Texas.  First Citizens Bank Energy Finance business and Bank United served as co-lead arranger of financings. Both projects are expected to reach commercial operation by the third quarter of 2024. Bank United also served as co-lead arranger of the financing.
Photon Energy, a solar project developer, <a href="https://mercomcapital.com/photon-energy-secures-16-million-multi-tranche-project-funding/" target="_blank" rel="noopener">secured</a> €15 million (~$16.24 million) senior secured loan from the European Bank for Reconstruction and Development to develop a 29 MW solar project portfolio in Romania. The portfolio consists of six solar projects.
Enfinity Global, a renewable energy project developer, has <a href="https://www.mercomindia.com/enfinity-solar-wind-projects-india" target="_blank" rel="noopener">announced</a> financing worth $135 million from the Canada Pension Plan Investment Board to fund the development and construction of 1.2 GW of solar and wind power projects across five states in India. The projects, located in Maharashtra, Delhi, Karnataka, Rajasthan, and Uttar Pradesh, are in advanced development stages and are projected to be commissioned and connected to the grid between 2025 and 2026.
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-brightnight-secure-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Catalyze Secures $100 Million for Community Solar Projects

cylib

Get the most relevant India solar and clean energy news.

RECENT POSTS