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					</table><p><strong>Redoxblox, a thermochemical energy storage company, </strong><a href="https://mercomcapital.com/redoxblox-raises-30-million-in-series-a-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> an additional $30 million in Series A funding.</strong> The funding round was led by Prelude Ventures and joined by Imperative Ventures, New System Ventures, and existing investors Breakthrough Energy Ventures and Khosla Ventures. The company was also awarded $8.9 million from the California Energy Commission and $6.7 million from the U.S. Department of Energy this year.</p>
<p><strong>eSmart Systems, an inspection and asset information management solutions provider for utilities, </strong><a href="https://mercomcapital.com/esmart-systems-raises-32-million-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> €30 million (~$32 million)</strong> in new capital funding, bringing its total to €63 million (~$65 million) in the past two years. The funding round was led by TiLT Capital Partners, a French growth capital impact fund, along with Quanta Services, a U.S.-based energy infrastructure solutions company, which joined as a strategic investor.</p>
<p><strong>Jupiter Power, a utility-scale energy storage project developer, </strong><a href="https://mercomcapital.com/jupiter-power-secures-225-million-in-corporate-credit-facility/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a $225 million corporate credit facility that includes up to $175 million in letters of credit and $50 million in revolving loans</strong>. This transaction was led by Barclays Bank PLC, HSBC Bank USA, and Sumitomo Mitsui Banking Corporation on the lender side, serving as coordinating lead arrangers. Kirkland &amp; Ellis acted as the borrower’s counsel, and Latham &amp; Watkins as the lenders’ counsel.</p>
<p><strong>Birch Creek Energy, a utility-scale solar and energy storage project developer, has secured a $150 million credit facility provided by KKR’s high-grade asset-based finance strategy</strong> via insurance accounts managed by KKR. This funding will extend and upsize its previous $100 million facility, and the company&#8217;s development expenses and equipment will be used for solar farms in its development portfolio.</p>
<p><strong>S4 Energy, a Dutch-based grid-scale energy storage developer, announced the acquisition of LC Energy Grid Service,</strong> a high-voltage battery storage platform and subsidiary of LC Energy. S4 Energy is majority-owned by Castleton Commodities International. With this acquisition, S4 Energy will be able to continue developing its existing portfolio of projects, which includes four 10 MW medium-voltage, 4-hour duration systems in the Netherlands, all of which are scheduled to become operational in 2025.</p>
<p>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>.</p>
<p>Read last week&#8217;s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-adden-energy-secures-15-million-in-series-a-funding/" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Redoxblox Raises $30 Million in Series A Funding


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-jupiter-secures-storage-projects/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Jupiter Power, an energy storage project developer, </strong><a href="https://mercomcapital.com/jupiter-power-secures-battery-storage-projects/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a $70.4 million construction and term loan financing facility for two standalone battery energy storage projects</strong> in Texas, totaling 160 MW/ 320 MWh. Through its Energy Finance group, First Citizens acted as Coordinating Lead Arranger on the construction and term loan financing facility for the standalone battery energy storage system projects. BankUnited, and Siemens Financial Services were Joint Lead Arrangers.</p>
<p><strong>Modus Asset Management, a Lithuania-based renewables investor through its Clean Energy Infrastructure Fund, and Evecon, a solar and wind project developer</strong>, have <a href="https://mercomcapital.com/modus-asset-management-acquires-55-mw-of-solar-projects-in-latvia/" target="_blank" rel="noopener">entered</a> into a transaction whereby the latter will acquire a 100% stake in a 55 MW solar PV portfolio of ground-mounted solar photovoltaic projects in Latvia. The portfolio is developed by Evecon SIA and consists of 10 projects located around Latvia and equipped with bifacial solar panels.</p>
<p><strong>Greenvolt, a solar and wind project developer, reached an agreement with Energa Wytwarzanie for the <a href="https://mercomcapital.com/greenvolt-sells-solar-and-wind-projects-poland/" target="_blank" rel="noopener">sale</a> of a portfolio comprising two renewable energy projects</strong> in Poland for €107 million (~$118.26 million). The agreement comprises the Opalenica project, which consists of three solar parks with a total capacity of 22 MW, and the Sompolno project, the first licensed hybrid project in Poland, with an installed capacity of 26 MW of wind and 10 MW of solar that will complement each other to deliver even more energy with maximum efficiency.</p>
<p><strong>Opdenergy, an independent solar and wind power producer, <a href="https://mercomcapital.com/opdenergy-secures-financing-solar-projects-spain-2/" target="_blank" rel="noopener">signed</a> a financing agreement with Banco Santander for the development and commissioning</strong> of five photovoltaic projects totaling 216 MW, for€128 million (~$141.59 million) in Spain. This operation includes the financing of the “Brovales” project, which consists of three photovoltaic plants: Brovales I (55 MW), Brovales II (55 MW) and Brovales III of 21 MW, all located in the province of Badajoz (Spain) and whose financing will amount to €72.7 million (~$80.42 million), and on the other hand, the photovoltaic plants of Capillas (56 MW) and Mulas (29 MW), both located in Zamora (Spain), whose financing will amount to €55.3 million (~$61.17 million).</p>
<p><strong>Abu Dhabi Future Energy Company Masdar has completed its inaugural green bond issuance, </strong><a href="https://www.mercomindia.com/uaes-masdar-raises-750-million-green-bonds" target="_blank" rel="noopener"><strong>raising</strong></a><strong> $750 million</strong> by issuing 10-year senior unsecured notes. The offering received interest from both regional and international investors, resulting in an oversubscription of 5.6 times the initial offering size, with the order book peaking at $4.2 billion. The proceeds from the bond offerings will be directed to support green projects in the renewable energy sector, including solar, wind, renewable power transmission and distribution infrastructure, and battery storage assets.</p>
<p>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.</p>
<p>Read last week’s project finance <a href="https://www.mercomindia.com/project-finance-brief-maxsolar-secures-solar-projects" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Jupiter Secures $70 Million for 320 MWh Storage Projects


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					</table><p><strong>From:</strong> <a href="https://mercomcapital.com/funding-and-ma-roundup-blackrock-acquires-jupiter-power/" target="_blank" rel="noopener"><strong>Mercom Capital Group</strong></a></p>
<p><strong>Through a fund managed by its Diversified Infrastructure business, BlackRock Alternatives has agreed to </strong><a href="https://mercomcapital.com/blackrock-acquires-energy-storage-developer-jupiter-power/" target="_blank" rel="noopener"><strong>acquire</strong></a><strong> Jupiter Power</strong>, an operator, and developer of stand-alone utility-scale battery energy storage systems, for an undisclosed amount. EnCap Energy Transition Fund I and co-investment partners Yorktown Partners and Mercuria Energy are selling Jupiter, and the transaction is expected to close in late 2022.</p>
<p><strong>WeaveGrid, an electrification software developer for the scalable deployment of EVs on the electric grid, has </strong><a href="https://mercomcapital.com/weavegrid-raises-35-million-in-series-b-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $35 million in Series B funding</strong>. Salesforce Ventures led the round. The company plans to use the funds to support expanded product capabilities for utilities, deepen engagement with automakers, and enhance the driving experience.</p>
<p><strong>Upstart Power, a developer, and manufacturer of solid oxide fuel cells, announced the </strong><a href="https://mercomcapital.com/upstart-power-raises-17-million-in-series-c-funding/" target="_blank" rel="noopener"><strong>closing</strong></a><strong> of a $17 million Series C financing</strong>. ITOCHU Corporation led the round with participation from existing investors Enphase Energy, Sunnova, Rodgers Capital, H+ Partners, and Cricetus Felix Ventures. The funds will help accelerate the commercialization of Upstart’s Upgen platform of backup and grid-augmenting solid oxide fuel cell generators.</p>
<p><strong>Strata Clean Energy, a vertically integrated solar and storage development, engineering, procurement, construction, and operations &amp; maintenance company, </strong><a href="https://mercomcapital.com/strata-clean-energy-acquires-crossover-energy-partners/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> Crossover Energy Partners</strong>, a clean energy solutions company. The financial terms of the deals were not disclosed. Strata is purchasing 100% of Crossover’s assets and is interested in its development platform.</p>
<p><strong>Clean Electric </strong><a href="https://mercomindia.com/battery-manufacturing-startup-clean-electric-raises-2-2-million-in-seed-fund/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $2.2 million in a seed round</strong> led by a Bengaluru-based early-stage venture capital firm Kalaari Capital, to produce 5,000 electric vehicles (EV) battery packs monthly from a proposed manufacturing facility in Pune. Clean Electric said it would direct the funds raised to study safety and performance issues like EV fires, long charging times, and frequent battery replacement. A part of the funds will be used to develop improved products related to fast charging, renewable energy storage, battery swapping technology, and research and development. The other participants in the round involved Climate Angels, LV Fund, 7Square Ventures, and CIIE Regional Innovation Foundation.</p>
<p><strong>Virtual Power Plant (VPP) developer Swell Energy <a href="https://mercomcapital.com/swell-energy-raises-120-million-for-vpp-deployment/" target="_blank" rel="noopener">announced</a> a $120 million equity investment </strong><strong>round</strong>, led by SoftBank Vision Fund 2 and Greenbacker Development Opportunities Fund with participation from Ares Management Infrastructure Opportunities Fund, to boost the development and growth of its VPP-building tools. Including the latest round, Swell Energy has raised a total of $152 million in funding to date, including previous investments by Ares Infrastructure Opportunities fund, Aligned Climate Capital, Third Sphere, and others.</p>
<p><strong>ABB E-mobility, a provider of electric vehicle charging solutions, </strong><a href="https://www.businesswire.com/news/home/20221120005072/en/ABB-E-mobility-Raises-Approx.-CHF200-Million-in-a-Pre-IPO-Private-Placement-to-Support-Its-Growth-Journey" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it had signed a pre-IPO private placement of approximately CHF200 million (~$209 million)</strong> for newly issued shares led by new minority investors. ABB will use the proceeds to execute its growth strategy, driven by organic and M&amp;A investments in hardware and software. The transaction will close during the fourth quarter of 2022.</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’s funding <a href="https://mercomindia.com/funding-and-ma-roundup-isun-raises-25-million-in-debt-financing/" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: BlackRock Acquires Energy Storage Developer Jupiter Power

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