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CleanMax to Supply 33 MW of Renewable Energy to Equinix’s Data Centers in Mumbai

CERC Proposes New Regulations for Trading in Carbon Credit Certificates

UAE’s Masdar Signs Investment Agreement for 1 GW Wind Project in Kazakhstan


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					</table><p>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-recurrent-energy-closes-500-million-investment/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Recurrent Energy, a solar and energy storage project developer and a wholly owned subsidiary of Canadian Solar, has </strong><a href="https://mercomcapital.com/recurrent-energy-closes-500-million-in-funding-from-blackrock/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> BlackRock’s second and final closing of a $500 million</strong> investment through a fund managed by its Climate Infrastructure business. The transaction was announced in January 2024, and the first payment was made in June 2024. As per the agreement, BlackRock’s total investment has reached $500 million, representing 20% of the outstanding fully diluted shares of Recurrent Energy.</p>
<p><strong>Peregrine Energy, an integrated clean energy platform focused on utility-scale energy storage solutions, </strong><a href="https://mercomcapital.com/peregrine-energy-secures-250-million-in-debt-funding/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a credit facility from insurance accounts managed by KKR that can provide ﬁnancing for up to $250 million.</strong> The funding will be used to ﬁnance equipment, interconnection, and offtake credit security to support Peregrine Energy’s energy sector development and continue developing its portfolio across the U.S. The company operates within ﬁve independent system operators and 11 states, with approximately 37 projects in its pipeline.</p>
<p><strong>Powin, an energy storage solutions provider, has </strong><a href="https://mercomcapital.com/energy-storage-provider-powin-secures-200-million-debt-funding/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a revolving credit facility of up to $200 million primarily from KKR</strong>, a global investment firm. Guggenheim Securities, a global investment and advisory firm, acted as Powin’s financial advisor and facilitated the completion of this capital raise. The company’s equity investors are Greenbelt Capital Partners, Trilantic, and Energy Impact Partners. The funding will be used to meet Powin’s working capital needs and enhance the company’s financial flexibility.</p>
<p><strong>Voltfang, an energy storage solutions provider, has </strong><a href="https://mercomcapital.com/energy-storage-provider-voltfang-secures-more-than-8-7-million/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> more than €8 million (~$8.7 million) in a Series A financing round</strong>, including €800,000 (~$877,000) in secured grants. Dutch deep tech venture capital firm FORWARD.One led the oversubscribed funding round. The company plans to use the funding to expand its product offerings and advance its energy management system to increase battery efficiency, strengthening its market position for commercial/industrial and grid-scale applications.</p>
<p><strong>The board of directors at Inox Green Energy Services (INOX Green), a wind power operations and maintenance service provider, has <a href="https://www.mercomindia.com/inox-green-allots-2-76-million-equity-shares-to-warrant-holders" target="_blank" rel="noopener">allotted </a></strong><strong>2.76 million equity shares</strong> with a face value of ₹10 (~$0.12) each at a price of ₹145 (~$1.73) to non-promoter warrant holders. The allotment was made after receiving conversion requests and the balance payment of 75% of the issue price for the previously issued convertible warrants. The newly allotted equity shares will be on an equal footing with the company’s existing equity shares in all respects.</p>
<p><strong>The Asian Development Bank will </strong><a href="https://www.mercomindia.com/adb-to-invest-certified-climate-bond-issue" target="_blank" rel="noopener"><strong>invest</strong></a><strong> $25 million in a certified climate bond issue by Vivriti Capital. </strong>The proceeds will be used to finance companies engaged in sectors including electric vehicles, solar and wind energy, and waste management. At least 30% of the funds will be specifically allocated to electric vehicle financing, including charging stations and battery swapping stations. The investment is expected to have a significant impact on India’s nascent green bond market.</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’s funding <a href="https://mercomcapital.com/funding-ma-roundup-ev-charging-platform-ampup-raises-15-million/" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Recurrent Energy Closes $500 Million Investment


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-brightnight-secures-to-expand-re-portfolio/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>BrightNight, an independent power producer, </strong><a href="https://mercomcapital.com/power-producer-brightnight-secures-375-million/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the completion of a $375 million corporate credit facility</strong> to expand its ~31 GW renewable energy portfolio in the U.S. BrightNight’s project portfolio in the country includes solar, energy storage, and integrated technologies. The funding specifically will support equipment deposits, letters of credit, and project buildout. The credit facility is structured as a Green Loan. BrightNight’s Green Loan was arranged by ING, Natixis CIB, and SMBC as Coordinating Lead Arrangers.</p>
<p><strong>Aquila European Renewables (AER), an investment company with a focus on renewable energy technologies, <a href="https://mercomcapital.com/aquila-european-renewables-secures-loan-ing-bank/" target="_blank" rel="noopener">secured</a> a five-year debt facility of €50 million (~$55 million) from ING Bank, </strong>which is backed by AER’s solar project portfolio in Spain. The company’s solar projects, with a total capacity of 180 MW, are under long-term power purchase agreements. AER intends to use the net proceeds from the debt facility to repay the existing revolving credit facility, resulting in available capacity under the RCF of approximately €70 million (~$77 million) out of the €100 million (~$110 million) limit.</p>
<p><strong>Recurrent, an electric vehicle (EV) and battery health data company, has <a href="https://mercomcapital.com/ev-and-battery-data-company-recurrent-secures-vc/" target="_blank" rel="noopener">secured</a> $16 million in an oversubscribed Series A funding round led by ArcTern Ventures.</strong> The funding round witnessed additional investments from Automotive Ventures, Goodyear Ventures, Wireframe Ventures, Pioneer Square Labs, and others. The company plans to use the funding to expand its EV Battery reports.</p>
<p><strong>Technology Minerals, a battery raw material extraction and recycling company, has </strong><a href="https://www.technologyminerals.co.uk/published/5-million-convertible-bond-facility-cln-extension-and-offer-to-warrantholders" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into an agreement with CLG Capital where CLG can issue up to £5 million (~$6.4 million) through convertible bonds</strong> that can be changed into ordinary shares in the company later. The bonds have a lockup period of 40 days after they are issued. The company’s shares in Recyclus Group are the collateral for the facility. Technology Minerals will pay CLG a fee of 3% of the aggregate principal amount of each tranche of convertible Bonds.</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://mercomindia.com/funding-and-ma-roundup-element3-raises-seed-funding" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: BrightNight Secures $375 Million to Expand RE Portfolio

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