POWERGRID Wins Contracts to Evacuate 18 GW of Renewable Energy

MNRE Seeks Feedback on Guidelines for PM-Surya Ghar Rooftop Solar Program

Apple Partners with CleanMax to Power India Operations with Renewable Energy

Explainer: Application Process for ALMM Inclusion and Renewal

EU Member States Sign Solar Charter to Boost Domestic Manufacturing

Daily News Wrap-Up: NTPC’s 1 GW Wind-Solar Hybrid Auction

Sprng Energy, AMPIN, Juniper, ReNew, Avaada Win NTPC’s 1 GW Hybrid Auction

Biofuels Firm GPS Renewables Raises $50 Million in Debt Financing

Solar Auctions Surge by 229% in Q1 2024, Tender Activity Up 122%

Global Wind Installations Reached 1 TW Milestone in 2023


					<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="http://mercomindia.com/wp-content/uploads/2023/01/amazon_polly_47870.mp3?version=1674019396">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-solar-and-battery-leasing-firm-enpal-raises-233-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Enpal, a German-based solar and battery leasing solutions company, </strong><a href="https://www.enpal.de/pressemitteilungen/enpal-to-receive-215-million-eur-in-series-d-round-led-by-tpg-rise-climate" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €215 million (~$233 million) in series D funding</strong> led by TPG Rise Climate to support the company&#8217;s expansion plans. As a part of the fundraising, along with Westly Group and Activate Capital, two additional major climate investors came on board. Existing investors such as HV Capital (with support from the European Investment Bank), SoftBank Vision Fund 2, and Princeville Climate Technology also participated and increased their commitments.</p>
<p><strong>France-based energy firm ENGIE </strong><a href="https://mercomindia.com/energy-firm-engie-billion-through-green-bonds/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> €2.75 billion (~$2.9 billion) after closing its triple-tranche green bond issue</strong>. The transaction delivered an average coupon rate and duration of 3.93% and 12.4 years, respectively. The company said the issuance covers a substantial part of ENGIE&#8217;s financing needs for 2023.</p>
<p><strong>Chara, a Bengaluru-based manufacturer of electric motors for electric vehicles (EV), </strong><a href="https://mercomindia.com/electric-vehicle-motor-maker-chara-raises/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $4.75 million in a pre-series A round funding</strong> led by Exfinity Venture Partners. The funding round also saw participation from Vietnam-based Big Capital, a venture arm of Bitexco and Log9 Materials. Existing investors Kalaari Capital and ciie.co also participated in the round.</p>
<p><strong>Electric powertrains technology company Entuple E-Mobility </strong><a href="https://mercomindia.com/tech-firm-entuple-e-mobility-secures-in-pre-series-a-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $3 million in pre-series A funding from Blue Ashva Capital and Capital</strong> <strong>A</strong> to enhance the company&#8217;s research and development capabilities for new technologies. The company said the funding would be used to develop next-generation traction motors and drives for mobility applications, including machine learning and advanced telematics capabilities in its product.</p>
<p><strong>Norway&#8217;s development finance institution Norfund said it would </strong><a href="https://mercomindia.com/norfund-to-million-in-indian-waste-to-energy-company-sael/" target="_blank" rel="noopener"><strong>invest</strong></a><strong> about NOK 600 million (~$60.5 million) in the Indian solar and agricultural waste-to-energy company SAEL</strong>. The investment will help SAEL support its target of growing its renewables portfolio to 3 GW by 2028 by adding 100 MW of new biomass and 400 MW of new solar capacity annually to its existing portfolio of 600 MW.</p>
<p>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>.</p>
<p>Read last week&#8217;s funding <a href="https://mercomindia.com/funding-and-ma-roundup-shell-completes-acquisition-of-sprng-energy/" target="_blank" rel="noopener">roundup</a>.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/staff/" class="vcard author" rel="author"><span class="fn">Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Funding and M&A Roundup: Solar and Battery Leasing Firm Enpal Raises $233 Million

<p><a href="https://www.enpal.de/" target="_blank" rel="noopener">Enpal</a>, a Germany-based solar photovoltaic and battery leasing solutions provider, said it has raised €150 million (~$174.9 million) from <a href="https://visionfund.com/" target="_blank" rel="noopener">SoftBank Vision Fund 2</a> in Series C funding round.</p>
<p>The company recently secured €100 million (~$116.56 million) from prominent investors, including HV Capital and SolarCity co-founder Peter Rive.</p>
<p>According to Enpal, it has over 10,000 consumers for residential rooftop solar in Germany. The company provides solar systems on a subscription basis that eliminates high investment costs for homeowners. Homeowners can also purchase solar systems for only €1 (~$1.17) after 20 years of operation.</p>
<p>Enpal aims to supply one million households with their solar systems by the end of the decade.</p>
<p>In September 2021, Enpal <a href="https://mercomindia.com/funding-and-ma-roundup-enpal-raises-322-million/">secured</a> €275 million ($322 million) in senior debt facility and €70 million ($82 million) in the form of a subordinated mezzanine loan from BlackRock, Pricoa Private Capital, and UniCredit.</p>
<p>Mario Kohle, Founder of Enpal, said, “The fight against climate change is one of the biggest challenges of humankind, and truly our moonshot mission. Our dream is to bring a solar system on every roof, battery storage into every home, an electric car in front of every door, and connect people from all walks of life to a sustainable community. We are excited and humbled to have SoftBank Vision Fund 2 on board and supporting our mission to make clean energy easy, affordable, and accessible for everyone.”</p>
<p>Commenting on the investment, Yanni Pipilis, Managing Partner for SoftBank Investment Advisers, said, “Rising electricity prices and increasing demand mean renewable energy adoption is rapidly becoming mainstream. We believe Enpal offers customers an all-in-one solar solution, lowering the barriers to entry for consumers. It is great to be working with Mario and the Enpal team to make more households energy independent.”</p>
<p>According to Mercom’s <a href="https://mercomcapital.com/product/9m-q3-2021-solar-funding-ma-report/" target="_blank" rel="noopener">9M and Q3 Solar Funding and M&amp;A Report</a>, in 9M 2021, the solar sector brought in $2.2 billion in VC funding in 39 deals, 466% higher compared to $394 million in 29 deals in 9M 2020.</p>
<p>SoftBank has earlier <a href="https://mercomindia.com/energy-vault-raises-softbank-gravity-storage/" target="_blank" rel="noopener">invested</a> $110 million in Series B funding in Energy Vault, an Idea lab company that has developed a transformative technology to store energy.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/harsh-shukla/" class="vcard author" rel="author"><span class="fn">Harsh Shukla</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2022/02/Harsh-Shukla-293x300-1-new.jpg" width="99" height="102" /><a href="https://mercomindia.com/author/harsh-shukla/" target="_blank" rel="noopener"><strong style="color: #00b451">Harsh Shukla</strong> </a>is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.</p>
<p><a href="https://mercomindia.com/author/harsh-shukla/">More articles from Harsh Shukla.</a></p>
</div></div><div class="clearfix"></div></div></div>

Solar Leasing Firm Enpal Raises $174.9 Million from SoftBank

enpal

Get the most relevant India solar and clean energy news.

RECENT POSTS