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					</table><p>Sustainable infrastructure investor <a href="https://www.act.is/" target="_blank" rel="noopener">Actis</a> has acquired a 100% stake in Stride Climate Investments, a solar generation asset portfolio in India, from a <a href="https://www.macquarie.com/au/en/about/company/macquarie-asset-management.html" target="_blank" rel="noopener">Macquarie Asset Management</a>-managed fund.</p>
<p>Through this deal, Actis will gain control of Stride&#8217;s 371 MW (414 MWp) portfolio of operational solar assets, spanning 21 projects across seven states, with a significant concentration in Gujarat. Stride&#8217;s portfolio has nearly a decade of operational history. It features long-term pay-as-produce power purchase agreements with a diverse mix of off-takers, including central and state governments and private sector entities.</p>
<p>With this acquisition, Stride becomes Actis&#8217; third active energy generation platform in India, alongside BluPine Energy and Athena Renewables.</p>
<p>Commenting on the acquisition, Adrian Mucalov, Partner and Head of Long Life Infrastructure, Actis, said, &#8220;The acquisition of Stride aligns nicely with Actis&#8217; long life infrastructure investment approach. The business has a 10-year operating history, compelling cash generation, and low existing leverage. We believe Stride offers strong prospects to deliver cash yields to investors while also being in a dynamic, rapidly growing market.&#8221;</p>
<p>Actis has deployed over $7.1 billion in Asia since its inception across different strategies. It has built or operated more than 8 GW of installed capacity in the region, including more than 5.5 GW of renewables.</p>
<p>Actis’ other renewable energy sector investments in India include Ostro Energy and Sprng Energy.</p>
<p>Mergers and acquisitions witnessed a 15% YoY decline in 2024, with 82 transactions compared to 96 in 2023, according to Mercom&#8217;s <a href="https://mercomcapital.com/product/annual-and-q4-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">Annual and Q4 2024 Solar Funding and M&amp;A Report</a>. There were 82 M&amp;A transactions announced in 2024, with 21 amounting to $17.3 billion. By comparison, 96 companies (27 disclosed) were acquired for $12.4 billion in 2023.</p>
<p>Solar downstream companies led corporate M&amp;A activity in 2024, acquiring 66 companies, followed by manufacturers acquiring six companies, service providers, and the balance of system companies with five acquisitions each.</p>


Actis Acquires Macquarie-Managed 371 MW India Solar Portfolio


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-ev-charging-platform-ampup-raises-15-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>AmpUp</strong><strong>, an electric vehicle charging platform company, has <a href="https://mercomcapital.com/ev-charging-platform-ampup-raises-15-million-series-a-funding/" target="_blank" rel="noopener">secured</a> $15 million in Series A funding</strong>. Touchdown Ventures led the funding round. Additional new investors included Autotech Ventures (Autotech) and MUUS Climate Partners (MUUS), with participation from Holman, Goodyear, Foothill Ventures, WEX Venture Capital, TechNexus Venture Collaborative, Powerhouse Ventures, and Connecticut Innovations, among others. According to the company, the funding will be used to expand its services across the U.S. market and develop energy management solutions in the EV charging sector.</p>
<p><strong>Octopus Energy Generation, a British renewable energy group, has </strong><a href="https://mercomcapital.com/octopus-energy-fully-acquires-renewables-developer-exagen/"><strong>acquired</strong></a><strong> renewables developer Exagen </strong>through its Octopus Energy Development Partnership (OEDP) fund. This acquisition comes after Octopus acquired an initial 24% stake in Exagen through this OEPD fund in August 2022, which includes an option to purchase a 500 MW/1 GWh battery project located in the Midlands. Octopus manages nearly £7 billion (~$9.4 billion) in renewable energy projects globally, and this acquisition is expected to further accelerate the UK’s progress toward meeting its renewable energy targets by 2035.</p>
<p><strong>Energy Storage Industries – Asia Pacific (ESI), an iron flow battery manufacturer and energy storage project developer, has </strong><a href="https://mercomcapital.com/energy-storage-industries-raises-40-million-funding-iron-flow-batteries/" target="_blank" rel="noopener"><strong>received</strong></a><strong> a total investment of AU$65 million (~$40 million)</strong> in funding; AU$25 million (~$17 million) from the Queensland Government, and AU$40 million (~$23 million) of private capital from an undisclosed international firm. With the investment, ESI will continue constructing a manufacturing facility in Maryborough, Queensland, Australia, where it will assemble long-duration iron flow battery systems.</p>
<p><strong>Electronics manufacturer  Kaynes Technology has </strong><a href="https://www.mercomindia.com/kaynes-acquires-smart-meter-company-iskraemeco-india-for-%E2%82%B9430-million" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> 100% of smart meter company Iskraemeco India</strong>, previously held by Iskraemeco Switzerland and Iskraemeco Merjenje, for ₹430 million (~$5.13 million). Iskraemeco India is engaged in supplying, installing, operating, and maintaining smart meters. The company’s total turnover in 2024 is ₹654.2 million (~$7.81 million). Kaynes Technology said in a regulatory filing that the acquisition will increase the company’s product line and service offerings.</p>
<p><strong>Aditya Birla Renewables, the Aditya Birla Group’s renewable energy arm, has </strong><a href="https://www.mercomindia.com/aditya-birla-renewables-raises-%E2%82%B925-billion-via-debenture-sale" target="_blank" rel="noopener"><strong>raised</strong></a><strong> ₹25 billion (~$299.26 million)</strong> through a private placement of non-convertible debentures. These include 2.5 million unsecured, listed, rated, redeemable, and non-convertible debentures with a face value of ₹0.1 million (~$1,197.03). The base issue size is up to ₹20 billion (~$239.4 million), with a greenshoe option to retain oversubscription of up to ₹5 billion (~$59.85 million). The debentures will mature on September 24, 2027.</p>
<p><strong>Macquarie Asset Management (MAM), a global asset manager, has </strong><a href="https://mercomcapital.com/macquarie-acquire-stake-developer-de-shaw-renewable-investments/" target="_blank" rel="noopener"><strong>agreed</strong></a><strong> to acquire a minority stake worth $1.725 billion</strong> in renewables developer D. E. Shaw Renewable Investments (DESRI) via several MAM-managed funds. DESRI is a member of the D. E. Shaw group, a global investment and technology development firm. MAM’s acquisition, according to the company, is expected to enable DESRI to continue its growth and strengthen its position in the energy transition market.</p>
<p><strong>Solutions30, a provider of support services related to new digital technologies, has </strong><a href="https://mercomcapital.com/solutions30-acquires-solar-construction-firm-xperal/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of Xperal</strong>, a company that offers design, engineering, procurement, commissioning, and maintenance services for solar projects. In 2023, Xperal achieved revenues of €15 million (~$16.8 million). The acquisition will expand Solutions30’s services into the Benelux region and increase its market share.</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://www.mercomindia.com/funding-and-ma-roundup-return-acquires-jp-batterie-projekte" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: EV Charging Platform AmpUp Raises $15 Million

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