DP Cocoa Eyes ₹11 Million Power Bill Savings with Rooftop Solar Project

NLC India Invites Bids to Lease 1,500 Acres in Gujarat for Solar Projects

Odisha Proposes Ancillary Services Framework for Grid Security

IPX Power Closes $4.95 Billion Financing for Solar and Storage Projects

Energy Trading Startup Shatterdome Energy Raises $3.5M Pre-Seed Funding

Veda Solar Begins Commercial Production of Modules at 1.5 GW Surat Plant

Fujiyama to Set Up 1.2 GW Solar Cell Manufacturing Plant in Madhya Pradesh

I Squared Capital Launches $1 Billion Power Transmission Platform in India

MSMEs Gain Easier Access to Clean Energy Financing as Banks Expand Offerings

Daily News Wrap-Up: India Installs 2.7 GW Solar Open Access in Q1 2026


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-crux-secures-500-million-debt-facility/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Crux, a clean energy finance platform, has <a href="https://mercomcapital.com/crux-secures-500m-debt-facility-clean-energy-tax-investments/" target="_blank" rel="noopener">closed</a> a $500 million debt financing facility</strong> with Nuveen Energy Infrastructure Credit, Nuveen’s infrastructure credit investment platform. Skadden, Arps, Slate, Meagher &amp; Flom served as Crux’s legal adviser. Milbank served as legal adviser to Nuveen. Crux said it will use the facility to finance Crux-led tax-driven investments. These investments include hybrid tax equity transactions. The financing expands Crux’s role as a general partner in tax-driven investment strategies.</p>
<p><strong>MN8 Energy, a U.S.-based renewable independent power producer, <a href="https://mercomcapital.com/mn8-energy-expands-corporate-credit-facility-to-650-million/" target="_blank" rel="noopener">closed</a> an upsizing and extension of its corporate credit facility</strong>, increasing it from $350 million to $650 million. The maturity of the facility has been extended from the first quarter of 2028 to the third quarter of 2030. The upsized facility provides up to $550 million in revolving borrowing capacity and an additional $100 million in new capacity for performance letters of credit. MN8 said the letters of credit will support development-stage requirements, including power purchase agreements and interconnection security deposits.</p>
<p><strong>Elong Power Holding, a company that provides lithium-ion battery solutions for energy storage systems and EVs, announced the <a href="https://mercomcapital.com/elong-power-holding-closes-6-million-public-offering/" target="_blank" rel="noopener">closing</a> of its $6 million underwritten public offering</strong>. The company issued 4,615,500 units at $1.30 per unit. Each unit consisted of one Class A ordinary share, or a pre-funded warrant instead of a share, and one common warrant to purchase one Class A ordinary share, carrying a par value of $0.0128 per share.</p>
<p><strong>Nextpower, a solar PV solutions provider, has entered into a definitive agreement to <a href="https://mercomcapital.com/nextpower-to-acquire-zigors-power-conversion-assets-and-apex-power/" target="_blank" rel="noopener">acquire</a></strong><strong> complementary assets of Zigor Corporation’s power-conversion business and its U.S.-based subsidiary, Apex Power</strong>. The transaction is expected to expand Nextpower’s product portfolio and capabilities in utility-scale solar power conversion. It would also support its entry into the battery energy storage and data center markets. Nextpower said the transaction is expected to support the scale-up of inverter manufacturing capacity in the U.S., with production expected to ramp in 2027.</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-nyobolt-raises-60-million" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Crux Secures $500 Million Debt Facility


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					</table><p><a href="https://mn8.com/" target="_blank" rel="noopener">MN8 Energy</a>, a U.S.-based renewable independent power producer, has closed an upsizing and extension of its corporate credit facility to $650 million from $350 million.</p>
<p>The maturity of the facility has been extended from the first quarter of 2028 to the third quarter of 2030.</p>
<p>The upsized facility provides up to $550 million in revolving borrowing capacity and an additional $100 million in new capacity for performance letters of credit. MN8 said the letters of credit will support development-stage requirements, including power purchase agreements and interconnection security deposits. The facility also includes a $300 million accordion feature that allows MN8 to increase loan capacity as its portfolio grows.</p>
<p>MN8 said the transaction received strong demand. Existing lenders to the company’s prior facility participated in the upsized facility, with several increasing their commitments. The lender group also expanded with the addition of new participants.</p>
<p>J.P. Morgan led the syndication as lead arranger and bookrunner. Wells Fargo served as joint lead arranger. Bank of America, Société Générale, MUFG, and Crédit Agricole CIB acted as co-syndication agents.</p>
<p>MN8 said it will use the proceeds for general corporate purposes, including funding continued growth investments and providing letters of credit to support the development of new generation and storage capacity.</p>
<p>The company said the facility positions it to meet growing electricity demand across the U.S. economy, driven by data center buildouts, manufacturing investment, and broader electrification.</p>
<p>Previously, in February 2025, MN8 Energy <a href="https://mercomcapital.com/mn8-energy-secures-612-million-financing-for-517-mw-solar-projects/" target="_blank" rel="noopener">closed</a> $612 million in construction bridge financing with Natixis Corporate &amp; Investment Banking to support the development and construction of three solar projects totaling 517 MW across North Carolina, Kentucky, and Illinois.</p>
<p>The company, headquartered in New York, has approximately 4 GW of operational and under-construction solar projects, 1.1 GWh of battery storage capacity, and over 100 high-power EV charging stations in the U.S., as per the release.</p>
<p>Announced debt financing in the solar sector came to $8.9 billion in the first quarter of 2026, 154% higher compared to $3.5 billion in Q1 2025, according to Mercom’s Q1 2026 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/q1-2026-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>.</p>


MN8 Energy Expands Corporate Credit Facility to $650 Million


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-invenergy-secures-900-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Invenergy</strong><strong>, a developer of renewable energy projects, </strong><a href="https://mercomcapital.com/invenergy-secured-additional-900-million-from-natixis-cib/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a $900 million Green Letter of Credit facility to support the development of Invenergy Renewables Finance North America’s project pipeline.</strong> The funding will also support Invenergy’s development pipeline of large-scale renewable and other clean energy generation and storage facilities in the Americas. Natixis Corporate &amp; Investment Banking (Natixis CIB) acted as Sole Bookrunner, Syndication Agent, Administrative Agent, Documentation Agent, and Green Loan Coordinator.</p>
<p><strong>The Japan Bank for International Cooperation (JBIC) has </strong><a href="https://www.mercomindia.com/ntpc-nhpc-loan-jbic-renewable-projects" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into strategic loan agreements with NTPC Renewable Energy and NHPC to help develop renewable energy projects across India.</strong> The loans for the public sector undertakings are co-financed with Sumitomo Mitsui Banking Corporation and the Bank of Fukuoka, with JBIC providing 60% of the total financing. NTPC Renewable Energy has secured a loan of JPY15 billion (~$99.11 million) to fund its renewable energy projects, with JBIC contributing JPY9 billion (~$59.46 million).</p>
<p><strong>Energy storage developer Lightshift Energy (formerly Delorean Power) </strong><a href="https://mercomcapital.com/lightshift-energy-secures-financing-energy-storage-projects/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $100 million from Greenbacker Capital Management (GCM), a renewable energy asset manager.</strong> Of the total funds secured, $20 million originated from a GCM-affiliated investment vehicle focused on equity investments in sustainable infrastructure development platforms. These funds will be used to expand Lightshift’s team, accelerate sales, and enhance its project pipeline. Lightshift secured $80 million from a second GCM-affiliated investment vehicle specialized in sustainable infrastructure assets.</p>
<p><strong>Independent power producer AmpIn Energy Transition has </strong><a href="https://www.mercomindia.com/ampin-energy-secures-manufacturing-facility-in-odisha" target="_blank" rel="noopener"><strong>secured</strong></a><strong> an investment from Oesterreichische Entwicklungsbank (OeEB)</strong>, the Development Bank of Austria, totaling €25 million (~$26.9 million) in long-term financing. The capital infusion is expected to aid AmpIn Energy Transition in establishing a 1 GW domestic solar cell and module production facility in Odisha and expanding its renewable energy portfolio. The company has a diverse portfolio spanning 3 GW across 21 states in India and plans to expand it to 10 GW by 2030.</p>
<p><strong>Ionobell, a silicon battery technology company, </strong><a href="https://mercomcapital.com/silicon-battery-technology-startup-ionobell-raises-3-9-million-financing/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $3.9 million in a recent seed extension round</strong> led by Dynamo Ventures and Trucks VC, bringing the total funding amount to $7.3 million in seed investment fundraising. The initial equity round was led by Trucks VC, with participation from Dynamo Ventures and Alumni Ventures. The company claims its silicon material is 500% more energy-dense than Graphite. With this funding, Ionobell plans to expand its production across the U.S.</p>
<p><strong>MN8 Energy, an independent power producer, has announced</strong><strong> the completion of its private placement, <a href="https://mercomcapital.com/mn8-energy-announces-closing-private-placement/" target="_blank" rel="noopener">raising</a> $325 million through the issuance and sale of convertible preferred stock.</strong> The funds obtained from the private placement will be allocated towards supporting the company&#8217;s expanded operations and facilitating its growth. The $325 million private placement comprises a $200 million investment from Mercuria Energy Group, an independent energy and commodity group, and $125 million from Ridgewood Infrastructure.</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-enapi-raises-2-7-million" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Invenergy Secures $900 Million Green Loan

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