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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-yellow-door-energy-equity-funding/" target="_blank" rel="noopener">Mercom Capital Group</a>
Yellow Door Energy (YDE), a UAE-based solar developer, <a href="https://mercomcapital.com/yellow-door-energy-raises-400-million/" target="_blank" rel="noopener">announced</a> the closing of $400 million equity to continue its development of sustainable energy projects in the Middle East, Africa, and beyond. The investment also includes purchasing current shares, enabling the company’s initial investors to exit. The funding is provided by YDE’s newest and now controlling shareholder, Actis, with existing shareholders International Finance Corporation, Mitsui, and APICORP increasing their equity commitments.
Sunly, an independent power producer, <a href="https://sunly.ee/sunly-raises-200-million-euros-and-welcomes-mirova-as-a-new-investor/#:~:text=Sunly%20raises%20200%20million%20euros%20and%20welcomes%20Mirova%20as%20a%20new%20investor,-October%2013%2C%202022&amp;text=Independent%20power%20producer%20Sunly%20raises,in%20the%20Baltics%20and%20Poland" target="_blank" rel="noopener">raised</a> around €200 million (~$196 million) from its existing shareholders and new investor Mirova, an affiliate of Natixis Investment Managers and French asset manager. Sunly will use the funding to develop further its 17.9 GW solar and wind power pipeline in the Baltic States and Poland.
Spanish EV Charging company Zunder <a href="https://mercomcapital.com/ev-charging-company-zunder-raises-97-million/" target="_blank" rel="noopener">raised</a> €100 million (~$97 million) from sustainable investment manager Mirova. With new funds, the company will speed up the rollout of ultra-fast EV charging stations in Southern Europe. Zunder is a Spanish EV charging operator that was founded in 2017. The company is supported by White Summit Capital, a Swiss-based investor, and asset management, and operates over 150 charging stations, with plans to expand to over 4,000 charging stations by 2025.
Solestial, a manufacturer of ultra-thin silicon solar cells that can self-cure radiation damage at normal operating temperatures in space, <a href="https://www.businesswire.com/news/home/20221011005573/en/Airbus-Ventures-Leads-Solestial%E2%80%99s-Oversubscribed-10M-Seed-Round" target="_blank" rel="noopener">raised</a> $10 million in seed funding from Airbus Ventures. Other investors who participated in the round were AEI HorizonX, GPVC, Stellar Ventures, and Industrious Ventures. The company plans to use the funding to ramp up production and customer engagement capabilities as the company expands ground and flight testing in parallel. Additional investments in R&amp;D and go-to-market functions are also planned.
ecoligo, a provider of solar-as-a-service projects in emerging markets, <a href="https://ecoligo.com/en/blog/2022/10/17/ecoligo-raises-e10-million-investment-from-frv-x-to-drive-global-transition-to-renewable-energy/" target="_blank" rel="noopener">closed</a> €10 million (~$9.7 million) in a Series A funding round. The new investor FRV-X, a Fotowatio Renewable Ventures venture division, participated in the round. ecoligo will use the investment sum to continue to grow sustainably, expand existing markets, and effectively drive forward the global energy transition.
e-Zinc, an electrochemical technology developer of energy storage solutions, has <a href="https://mercomcapital.com/zinc-air-battery-company-e-zinc-secures-7-million/" target="_blank" rel="noopener">closed</a> a $7 million venture debt facility with Silicon Valley Bank. The company intends to use the funds to speed up its commercialization efforts and execute commercial pilot projects that provide in-field validation for its zinc-air batteries.
SunDrive, a manufacturer of solar cells with cheaper copper, <a href="https://www.virescent.vc/sundrive-raises-21m-series-a-to-supercharge-solar-panel-efficiency-and-drive-down-costs/" target="_blank" rel="noopener">raised</a> A$21 million (~$13 million) from Clean Energy Finance Corp alongside Main Sequence Ventures, Blackbird Ventures, and Grok Ventures.
Photon Energy, a solar project developer, <a href="https://www.photonenergy.com/en/photon-energy-group/news/photon-energy-group-taps-its-6-50-green-bond-to-75-million-euros.html" target="_blank" rel="noopener">raised</a> its 6.50% Green EUR Bond 2021/2027 of €10 million (~$9.7 million) to a total outstanding amount of €75 million (~$73 million). The green bond now carries a nominal value of €75 million (~$73 million), a 2027 maturity, and an interest rate of 6.50%., paid quarterly by way of a Secondary Party Opinion.
InterEnergy, a solar and wind energy project developer, <a href="https://interenergy.com/news/interenergy-announces-partnership-with-brookfield-and-stonepeak-to-accelerate-the-net-zero-transition/" target="_blank" rel="noopener">partnered</a> with Brookfield Renewable and Stonepeak to invest up to $1 billion in the aggregate in InterEnergy over the next four years, aiming to propel InterEnergy to a leading position amongst clean energy businesses in Latin America and the Caribbean.
Global Infrastructure Partners, an investment firm, <a href="https://mercomcapital.com/gip-acquires-atlas-renewable-energy-actis/" target="_blank" rel="noopener">acquired</a> Atlas Renewable Energy, a solar project developer, from Actis, a private equity firm. Atlas Renewable Energy has been developing, financing, constructing, and operating renewable energy projects throughout the Americas since early 2017. The company’s strategy is focused on helping large corporates make the energy transition to 100% clean energy.
MyPower, an investment arm primarily focused on energy and sustainability management, <a href="https://www.prnewswire.com/news-releases/mypower-corp-acquires-solstice-power-technologies-inc-a-prominent-service-provider-specialized-in-customer-management-for-community-solar-in-the-us-301647001.html" target="_blank" rel="noopener">acquired</a> Solstice, a service provider specializing in customer management for community solar development. Solstice Initiative, Solstice’s current non-profit arm, will not be acquired by MyPower and will operate as an independent 501c3 under a new brand.
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>.
Read last week’s funding <a href="https://mercomindia.com/funding-and-ma-roundup-form-energy/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Yellow Door Energy Closes $400 Million Equity Funding Round

From: <a href="https://mercomcapital.com/project-finance-brief-foresight-spain-24-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Here are the project finance highlights from the global renewable energy industry over the past week:
ACF Renewable Energy Limited, a subsidiary of ACWA Power, <a href="https://www.acwapower.com/news/acwa-power-sells-its-stake-in-a-60-mw-photovoltaic-power-plant-in-bulgaria/" target="_blank" rel="noopener noreferrer">completed</a> a sale of its 100% stake in ACWA Power CF Karad PV Park EAD (ACWA Power Karad), owner of a 60.4 MWp Karadzhalovo solar PV project in Bulgaria, to Enery Development, an Austrian investor and project developer in the renewable energy sector for an undisclosed amount. ACWA Power’s subsidiary NOMAC has also completed the sale of its 100% stake in NOMAC Bulgaria, a company providing O&amp;M services to the ACWA Power Karad plant, to Enery Development for an undisclosed consideration. Both transactions follow the signing of a binding agreement back in December 2019 and constitute the largest brownfield PV deal in Bulgaria to date.
The Asian Development Bank (ADB) and the ENGIE group <a href="https://www.adb.org/news/adb-engie-sign-loan-support-india-s-renewable-energy-development" target="_blank" rel="noopener noreferrer">signed</a> a long-term loan of up to ₹4.66 billion (~$65.5 million) to construct and operate a 200 MW Raghanesda Solar Park in India’s western state of Gujarat. Electro Solaire Private Limited (ESPL), a special purpose vehicle owned by the group, will implement the project. ADB, along with another international lender, will provide the entire debt required to construct the project.
Statkraft Ireland, a developer, and owner of renewable energy projects have <a href="https://www.statkraft.ie/newsroom/news-and-stories/archive/2020/statkraft-confirms-acquisition-of-five-solar-farms/" target="_blank" rel="noopener noreferrer">completed</a> the acquisition of five fully permitted solar projects with a combined capacity of 275 MW (DC) from Lightsource bp. The projects are located in Ireland counties Meath, Laois, Tipperary, and Cork. The acquisition is the latest in a series of transactions that Statkraft Ireland has made in the renewable energy sector since 2018.  
Fotowatio Renewable Ventures (FRV), a developer of renewable utility-scale projects, and Natixis, a French corporate and investment bank, have <a href="https://frv.com/en/frvs-san-servan-solar-plant-closes-financing-including-the-first-climate-bond-certified-green-transaction-in-spain-of-e-64m/" target="_blank" rel="noopener noreferrer">closed</a> a non-recourse project financing for the 138 MW (DC) San Servan solar PV project in the town of Solana de los Barros in Extremadura, Spain. This is the first Climate Bond Certified green transaction in Spain with a €64 million (~$75.48 million) green loan with Natixis acting as an underwriter and sole green loan coordinator. The project offtake is under a long-term Power Purchase Agreement (PPA) with ENGIE Spain.
Foresight Solar has <a href="https://fsfl.foresightgroup.eu/news/acquisition-of-first-spanish-solar-asset-07092020/" target="_blank" rel="noopener noreferrer">announced</a> the acquisition of a 26.1 MW Virgen del Carmen subsidy-free solar project based in Huelva, Spain, for €20.2 million (~$23.8 million). Once construction is completed project will sell energy generated through a long-term Power Purchase Agreement (PPA) with Shell Energy Europe, a subsidiary of Royal Dutch Shell, for the sale of electricity under a fixed price until 2030. The project is fully consented, with construction expected to start at the end of September 2020, with operations targeted to start in the third quarter of 2021.
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 noreferrer">here</a>.
Read last week’s funding <a href="https://mercomindia.com/funding-roundup-renesola-acquires-solar/" target="_blank" rel="noopener noreferrer">roundup</a>.
Image credit: Duke University

Project Finance Brief: Foresight Solar Acquires a 26.1 MW Solar Project in Spain for $24 Million

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