NextEra’s Clean Energy Business’ Net Income Up 17% YoY in Q4 2022
The U.S.-based energy company NextEra Energy reported a net income of $1.52 billion for the fourth quarter (Q4) of 2022, up by 26.41% year-over-year (YoY), driven primarily due to successful ...
JSW Energy’s Q3 Profit Dips 45% YoY to ₹1.8 Billion
JSW Energy, an independent power producer, posted a 45% year-over-year (YoY) drop in its profit at ₹1.8 billion (~$22.2 million) for the third quarter (Q3) of the financial year 2023, ...
Sterling and Wilson’s Q3 Revenue Shrinks 73% YoY to ₹4.18 Billion
The total revenue of Sterling and Wilson Renewable Energy, the solar engineering, procurement, and construction (EPC) arm of Shapoorji Pollonji Group, fell by 73% year-over-year (YoY) to ₹4.18 billion (~$51.5 ...
Government Sets IREDA Revenue Target of ₹33.61 Billion for FY23
The Government of India has set a revenue target of ₹33.61 billion (~$414 million) for the financial year (FY) 2022-23 for Indian Renewable Energy Development Agency (IREDA), 18% higher than ...
Funding and M&A Roundup: Energy Storage Firm Caban Systems Raises $51 Million
From: Mercom Capital Group Caban Systems, a California-based provider of energy storage solutions, raised $51 million in Series B Funding to help scale domestic battery manufacturing capacity and expand its ...
Government to Raise ₹160 Billion via Green Bonds in the Current Fiscal Year
The government will issue ₹160 billion (~$1.9 billion) worth of sovereign green bonds (SGB) in the last quarter of the current fiscal year (FY2022-23) to raise funds for the development ...
Funding and M&A Roundup: Rabobank Invests in Battery Energy Storage Project Developer
From: Mercom Capital Group Rabo Investments has infused an undisclosed amount in GIGA Storage, a large-scale battery energy storage project developer. The investment will enable GIGA Storage to expand its network of large-scale ...
Altus Power to Acquire 220 MW of Solar Assets for $293 Million in US
U.S.-based independent developer, owner, and operator of commercial-scale solar projects, Altus Power, entered a definitive agreement to acquire about 220 MW of solar assets for ~$293 million from the funds ...
Funding and M&A Roundup: EQT Acquires Renewable Developer Madison Energy
From: Mercom Capital Group EQT Infrastructure, an investment firm, announced that its EQT Infrastructure VI fund acquired Madison Energy Investments (MEI), a solar and energy storage project developer, from affiliates of Stonepeak ...
Tata Power Secures ₹4.5 Billion Financing for 220 MW Solar Projects
Tata Power has secured a ₹4.5 billion (~$54.3 million) trade finance facility from Japan-based Mitsubishi UFJ Financial Group (MUFG) for two solar projects. The funds will be used for a ...
Funding and M&A Roundup: Arcadia Raises $125 Million for Electric Grid Decarbonization
From: Mercom Capital Group Arcadia, a climate software and data startup focused on decarbonizing the electric grid, raised $125 million in new funding to support the development of the company’s Arc platform, ...
Funding and M&A Roundup: NRG Energy Buys Smart Grid Company Vivint for $2.8 Billion
From: Mercom Capital Group NRG Energy has entered into a definitive agreement to acquire Vivint Smart Home in an all-cash transaction at $12 per share totaling $2.8 billion. The acquisition is expected to help ...
Funding and M&A Roundup: BlackRock Acquires Energy Storage Developer Jupiter Power
From: Mercom Capital Group Through a fund managed by its Diversified Infrastructure business, BlackRock Alternatives has agreed to acquire Jupiter Power, an operator, and developer of stand-alone utility-scale battery energy storage systems, ...
Funding and M&A Roundup: iSun Raises $25 Million in Debt Financing
From: Mercom Capital Group iSun, a solar service provider across residential, commercial, industrial & municipal, and utility-scale projects, secured a $25 million debt financing as a Senior Secured Convertible Notes Facility with a single ...
Funding and M&A Roundup: Carlyle Acquires Majority Stake in Aspen Power for $350 Million
From: Mercom Capital Group Carlyle, a global investment firm, acquired a majority stake in Aspen Power Partners, a distributed generation platform focused on solar and storage assets across the U.S., for $350 million. The ...
Wind Turbine Maker Vestas Posts €147 Million Loss in Q3 Amid Market Uncertainties
Vestas Wind Systems, a wind turbine manufacturer, posted a loss of €147 million (~$146.33 million) in the third quarter (Q3) of the calendar year (CY) 2022, compared to a profit ...
Scatec Q3 Revenue Up 10% YoY Driven By Increased Hydropower Sales in the Philippines
Norwegian independent power producer Scatec posted consolidated revenue of NOK 1,163 million (~$110.6 million) for Q3, 2022, an increase of 10% year-over-year (YoY) primarily due to better power sales at ...
NTPC’s Q2 FY23 Consolidated Net Profit Dips 7.4% on Higher Fuel Cost
State-owned power producer NTPC reported a net profit of ₹34.2 billion (~$414.6 million) for the second quarter of the current fiscal year, a dip of 7.4% compared to the same ...
ADB Approves $18 Million for Bhutan’s First Utility-Scale Solar Power Project
Bhutan is set to get its first utility-scale solar photovoltaic (PV) power project, with the Asian Development Bank (ADB) approving financing of $18.26 million for its construction. The project will ...
African Clean Energy Transition Debate Must Acknowledge Country-wise Diversity
The immense benefits of a high renewable energy share in the African energy mix are indisputable, but the objective can be met only by adopting a country and context-specific strategy ...
Funding and M&A Roundup: CDPQ Invests $135 Million in Renewables Developer Shizen Energy
From: Mercom Capital Group Shizen Energy, a renewable energy project developer, received ¥20 billion (~$135 million) investment from CDPQ, a global investment group. Shizen Energy and CDPQ have also agreed to a ...
Funding and M&A Roundup: Yellow Door Energy Closes $400 Million Equity Funding Round
From: Mercom Capital Group Yellow Door Energy (YDE), a UAE-based solar developer, announced the closing of $400 million equity to continue its development of sustainable energy projects in the Middle East, Africa, and ...
Smaller Solar Module Manufacturers Find it Challenging to Raise Capital
Module manufacturers are scrambling to add capacity and upgrade technology after the government effectively barred imports. While large and established companies say capital is available in the market for expansion, ...
Sterling and Wilson Q2 Net Loss Widens to ₹2.99 Billion With Steep Fall in EPC Revenues
The consolidated net loss for Sterling and Wilson Renewable Energy (formerly Sterling and Wilson Solar) rose by 5% to ₹2.99 billion (~$36.35 million) in the second quarter (Q2) of the ...
Funding and M&A Roundup: Battery Systems Provider Form Energy Raises $450 Million
From: Mercom Capital Group Form Energy, an iron air-based battery systems provider, announced that it has raised $450 million in a Series E financing round led by TPG's global impact ...
