NextEra’s Clean Energy Business’ Net Income Up 17% YoY in Q4 2022

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’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, ...
/ / Finance and M&A, Other
Sterling and Wilson’s Q3 Revenue Shrinks 73% YoY to ₹4.18 Billion

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 ...
/ / Finance and M&A, Solar
Government Sets IREDA a Revenue Target of ₹33.61 Billion for FY23

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

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 ...
/ / Finance and M&A, Other
Government to Raise ₹160 Billion via Green Bonds in the Current Fiscal Year

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

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 ...
/ / Finance and M&A, Other
Altus Power to Acquire 220 MW of Solar Assets for $293 Million in US

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 ...
/ / Finance and M&A, Solar
Funding and M&A Roundup: EQT Acquires Renewable Developer Madison Energy

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 ...
/ / Finance and M&A, Other
Tata Power Gets Finance Facility of ₹4.5 Billion for 220 MW of Solar Projects

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 ...
/ / Other, Renewable Energy
Funding and M&A Roundup Arcadia Raises $125 Million to Accelerate Digital Decarbonization

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, ...
/ / Finance and M&A, Other
Funding and M&A Roundup NRG Energy Buys Smart Grid Company Vivint for $2.8 Billion

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 ...
/ / Finance and M&A, Other
Funding and M&A Roundup BlackRock Acquires Energy Storage Developer Jupiter Power

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, ...
/ / Finance and M&A, Other
Funding and M&A Roundup: iSun Raises $25 Million in Debt Financing

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 ...
/ / Finance and M&A, Other
Funding and M&A Roundup: Carlyle Acquires Majority Stake in Aspen Power for $350 Million

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 ...
/ / Finance and M&A, Other
Wind Turbine Maker Vestas Posts €147 Million Loss in Q3 Amid Market Uncertainties

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 ...
/ / Other, Wind
Scatec Q3 Revenue Up 10% YoY Driven Increased Hydropower Sales in the Philippines

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 ...
/ / Other, Renewable Energy
NTPC’s Q2 FY23 Consolidated Net Profit Dips 7.4% on Higher Fuel Cost

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 ...
First Solar to Build its Fourth Manufacturing Facility Worth $1 Billion in the US

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

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 ...
/ / Other, Renewable Energy
Funding and M&A Roundup: CDPQ Invests $135 Million in Renewables Developer Shizen Energy

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 ...
/ / Finance and M&A, Solar
Funding and M&A Roundup Yellow Door Energy Closes $400 Million Equity Funding Round

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 ...
/ / Finance and M&A, Solar
Smaller Solar Module Manufacturers Find it Challenging to Raise Capital

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

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 ...
/ / Markets & Policy, Solar
Funding and M&A Roundup Battery Systems Provider Form Energy Raises $450 Million

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 ...
/ / Finance and M&A, Other