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					</table><p>Automobile major <a href="https://www.ford.com/" target="_blank" rel="noopener">Ford Motor Company</a> will procure 650 MW of new solar energy capacity in Michigan following a clean energy agreement with <a href="https://newlook.dteenergy.com/" target="_blank" rel="noopener">DTE Energy</a>, a Detroit-based diversified energy company.</p>
<p>The purchase is a strategic investment in Michigan through DTE’s MIGreenPower program and is the largest renewable energy purchase ever made in the U.S. from a utility.</p>
<p>According to the Solar Energy Industries Association, the solar arrays will increase the total amount of installed solar energy in Michigan by nearly 70%, and Ford&#8217;s purchase will avoid as much as 600,000 tons of carbon dioxide emissions annually.</p>
<p>DTE estimates that the construction of the solar arrays will create 250 temporary jobs and ten permanent jobs.</p>
<p>Ford has more than 600 businesses enrolled in DTE’s MIGreenPower program and more than 62,000 residential customers. On an annual basis, MIGreenPower customers have enrolled in the program&#8217;s 2.8 million MWh of clean energy, which has the environmental benefit equivalent to avoiding 2.2 million tons of carbon dioxide emissions.</p>
<p>Ford was the first large industrial customer to enroll in DTE’s MIGreenPower program. The investment has expedited Ford’s global goal of assembling every Ford vehicle manufactured in Michigan with 100% carbon-free electricity in ten years.</p>
<p>“This unprecedented agreement is all about a greener and brighter future for Ford and Michigan,” said Jim Farley, president, and CEO, Ford Motor Company.</p>
<p>“We thank Ford for its continued commitment to using MIGreenPower to help decarbonize its operations and meet its sustainability goals,” said Jerry Norcia, Chairman and CEO of DTE Energy.</p>
<p>With the net zero targets in sight, more and more major corporations have accelerated their transition to renewable energy for their power needs.</p>
<p>Earlier this year, E-commerce giant Amazon <a href="https://mercomindia.com/37-renewable-energy-projects-to-power-amazon/" target="_blank" rel="noopener">announced</a> 37 new renewable energy projects worldwide, including solar, wind, and battery integrated projects, totaling 3.5 GW of clean energy capacity, in line with its target to achieve 100% renewable energy to power its operations by 2025.</p>
<p>In June this year, Microsoft Corporation <a href="https://mercomindia.com/microsoft-buy-power-from-amplus-solar-project/" target="_blank" rel="noopener">signed</a> a long-term renewable energy agreement with Amplus Solar for a 100 MW solar project developed in Rajasthan, India.</p>
<p>Mercom recently <a href="https://mercomindia.com/ci-consumers-switch-clean-energy-save-power-bills/" target="_blank" rel="noopener">hosted</a> its C&amp;I Clean Energy Meet 2022 in Bengaluru, where C&amp;I entities expressed their eagerness to switch to clean energy and save on their power bills in the long term.</p>
<p>The event organized by Mercom brought industry stakeholders and end consumers face to face to discuss how this transition could be made with ease. Mercom India plans to <a href="https://mercomindia.com/event" target="_blank" rel="noopener">host</a> more industry-focused C&amp;I events in Pune, Chennai, Coimbatore, Ahmedabad, and Noida.</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/vijayalakshmi-sridhar/" class="vcard author" rel="author"><span class="fn">Vijayalakshmi Sridhar</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/07/New-Project-6.jpg" width="77" height="102" /> <a href="https://mercomindia.com/author/vijayalakshmi-sridhar/" target="_blank" rel="noopener">Vijayalakshmi</a> is a staff reporter at MercomIndia.com. She has two decades of experience as an independent journalist and features writer, and her work is featured across various publications and genres such as business, food, and clean energy. <a href="https://mercomindia.com/author/vijayalakshmi-sridhar/" target="_blank" rel="noopener">More articles from Vijayalakshmi</a>.</p>
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Ford Motor to Procure 650 MW Solar Energy to Power its Michigan Operations

<p>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-battery-power/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Solid Power, producer of all-solid-state batteries for electric vehicles, </strong><a href="https://www.prnewswire.com/news-releases/bmw-and-ford-invest-in-solid-power-to-secure-all-solid-state-batteries-for-future-electric-vehicles-301281750.html" target="_blank" rel="noopener"><strong>raised</strong></a><strong> a $130 million Series B investment round led by the BMW Group, Ford Motor Company, and Volta Energy Technologies</strong>. Ford and the BMW Group have also expanded existing joint development agreements with Solid Power to secure all-solid-state batteries for future electric vehicles. Solid Power is currently producing 20-ampere hour (Ah) multi-layer all-solid-state batteries on the company&#8217;s continuous roll-to-roll production line, which exclusively utilizes industry-standard lithium-ion production processes and equipment.</p>
<p><strong>Foresight Solar Fund Limited, a closed-ended investment company, </strong><a href="https://fsfl.foresightgroup.eu/news/acquisition-of-first-battery-storage-asset/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> a 50% equity stake in Sandridge Battery Storage Limited (SBSL).</strong> SBSL holds the development rights to construct the Sandridge battery storage project, a 50 MW lithium-ion battery energy storage system based in Melksham, UK, adjacent to the Sandridge Solar Park, which the company already owns. It will represent a total investment of up to £12.7 million (~$17.6 million) (including construction costs) and will be funded using the company&#8217;s existing revolving credit facilities. The investment has been made alongside JLEN Environmental Assets Group, which will also acquire a 50% equity stake.</p>
<p><strong>Equinor, an international energy company, has </strong><a href="https://www.equinor.com/en/news/20210505-acquires-polish-renewables-company-wento.html" target="_blank" rel="noopener"><strong>completed</strong></a><strong> an agreement to buy 100% of the shares in Polish onshore renewables developer Wento</strong> from the private equity firm Enterprise Investors for €91 million (~$109 million) in enterprise value, before customary net cash adjustments. Wento&#8217;s business plan includes a total net pipeline of around 1.6 GW of solar projects in different stages of development.</p>
<p><strong>EleXsys Energy has </strong><a href="https://tinyurl.com/mercomssmp" target="_blank" rel="noopener"><strong>completed</strong></a><strong> a £3.65 million (~$5 million) fundraise to support the global expansion of its solar and storage microgrid platform</strong>. The Series A capital raise saw investment from the predominantly U.K. and Australian resident investors, with EleXsys Energy itself being incorporated in the U.K. Its tech platform enables grid-connected commercial and industrial solar and battery microgrids, with the raise to allow it to continue its investment as it looks to grow rapidly globally.</p>
<p><strong>Ncondezi Energy announced the completion of the previously </strong><a href="https://tinyurl.com/mercomnecb" target="_blank" rel="noopener"><strong>announced</strong></a><strong> $500,000 bridge loan between its wholly-owned renewables subsidiary</strong>, Ncondezi Green Power, and certain company directors to finance its commercial and industrial 400 kWp solar PV plus 912 kWh battery storage project located in Mozambique.</p>
<p><strong>EnCap Investments, provider of growth capital, </strong><a href="https://www.encapinvestments.com/news/encap-investments-lp-closes-energy-transition-fund" target="_blank" rel="noopener"><strong>announced</strong></a><strong> it has successfully closed EnCap Energy Transition Fund I</strong>, with commitments of approximately $1.2 billion. The fund was created to invest in companies that advance the nation&#8217;s transition to a lower-carbon future with a focus on creating wind, solar, and energy storage enterprises.</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-residential-solar/" target="_blank" rel="noopener">roundup</a>.</p>
<p>Image credit: Solid Power</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: Battery Company Solid Power Raises $130 Million

<p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>The Global Wind Energy Council (GWEC) said in a new </strong><a href="https://gwec.net/wind-can-power-3-3-million-new-jobs-worldwide-over-next-five-years/" target="_blank" rel="noopener"><strong>study</strong></a><strong> that 3.3 million new wind power jobs could be created globally over the next five years.</strong> GWEC attributed the scope of job creation to major industry expansion. This figure includes direct jobs in both onshore and offshore wind and covers the entire value chain of the sector from project planning and development, manufacturing to installation, operation, maintenance, and decommissioning of projects. GWEC analysis claims that an additional 470 GW of new onshore and offshore wind capacity will be installed around the world between 2021-2025.</p>
<p><strong>Volvo Group and Daimler Truck AG have </strong><a href="https://www.volvogroup.com/en/news-and-media/news/2021/apr/news-3960135.html" target="_blank" rel="noopener"><strong>launched</strong></a> <strong>Cellcentric, a new joint venture.</strong> The collaboration aims to accelerate the use of hydrogen-based fuel cells for long-haul trucks and beyond. Through the association, the firms are looking to build one of Europe’s largest planned series production of fuel-cell systems, with an operation planned to commence in 2025. To fast-track the rollout of hydrogen-based fuel cells, the two shareholders have called for a harmonized Europen Union hydrogen policy framework to support the technology to turn into a viable commercial solution.</p>
<p><strong>The U.S. Trade and Development Agency (USTDA) has </strong><a href="https://ustda.gov/ustda-supports-clean-energy-in-india/" target="_blank" rel="noopener"><strong>awarded</strong></a><strong> a grant to India’s Shivman Wind Energy Private Limited for a feasibility study to develop a 300 MW renewable power facility </strong>in Gujarat, India. Shivman selected Illinois-based Evergreen Power Solutions to conduct the study. USTDA’s feasibility study will provide Shivman with critical wind and solar resource assessments and conceptual designs for energy storage, ensuring that the project will be a source of reliable, clean energy. The project’s hybrid design will mitigate renewable energy variability to help stabilize Gujarat’s regional electricity grid, increase overall efficiency, and lower electricity costs. USTDA’s grant advances the goals of the U.S.-India Strategic Energy Partnership’s Renewable Energy Pillar.</p>
<p><strong>Hydrogen fuel company Everfuel has </strong><a href="https://usercontent.one/wp/www.everfuel.com/wp-content/uploads/2021/04/Everfuel_270821.pdf" target="_blank" rel="noopener"><strong>launched</strong></a><strong> the company’s H<sub>2</sub> station roll-out plan for Sweden.</strong> The move targets up to 15 strategically positioned fueling sites for zero-emission transport by the end of 2023. The plan is the second section of Everfuel’s Scandinavian green hydrogen fueling strategy for trucks, buses, and cars connecting the main traffic corridors in Sweden, Norway, and Denmark. The Swedish H2 station network is part of Everfuel’s Ramp-up phase of the announced plan to invest €1.5 billion (~$1.813 billion) in developing the green hydrogen value chain in Europe and reach €1 billion (~$1.21 billion) of revenue from the sale of hydrogen fuel to buses, trucks, and cars before 2030.</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/srinwanti/" class="vcard author" rel="author"><span class="fn">Srinwanti Das</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2021/04/Srinwanti-300pxl.jpg" alt="" width="106" height="115" />Srinwanti is a copy editor at Mercom India, where she writes and edits news stories across the clean energy spectrum. Prior to Mercom, she has worked in book publishing at Macmillan Publishing House and Integra and honed her editorial and writing skills in both online and print media such as Reuters, Times Group Books, The Times of India, and Pune Mirror, covering local to international stories. <a href="https://mercomindia.com/author/srinwanti/">More articles from Srinwanti Das.</a></p>
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Daily News Wrap-Up: GWEC Forecasts Wind Sector to Add 3.3 Million Jobs by 2025

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