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Daily News Wrap-Up: APTEL Criticizes MERC for Denying Petitioner Relief


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-recurrent-energy-secures-1-4-billion/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Recurrent Energy, a solar project developer and a wholly owned subsidiary of Canadian Solar </strong><a href="https://mercomcapital.com/recurrent-energy-secures-1-4-billion-credit-facility-to-expand-solar-and-storage-projects/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a multi-currency revolving credit facility valued at up to €1.3 billion (~$1.4 billion)</strong> with ten banks. Recurrent Energy and the participating financial institutions signed the agreement in Seville, Spain. The company will use the funding to develop solar and energy storage projects in European countries including Spain, Italy, the United Kingdom, the Netherlands, France, and Germany.</p>
<p><strong>Verkor, a manufacturer of lithium-based battery cells and modules, </strong><a href="https://mercomcapital.com/battery-manufacturer-verkor-secures-1-4-billion-green-loan/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> over €1.3 billion (~$1.41 billion) in green financing</strong> supported by 16 commercial banks and three public banks. These funds will be directly allocated to the construction and financing of Verkor’s first gigafactory located in Dunkirk, France, with an initial production capacity of 16 GWh/year. Following this recent deal, Verkor has so far secured over €3 billion (~$3.2 billion) in funding for its first gigafactory and the Verkor Innovation Centre.</p>
<p><strong>Verse, a clean energy management platform, </strong><a href="https://mercomcapital.com/clean-energy-management-platform-verse-secures-20-5-million-series-a-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $20.5 million in a Series A funding round led by GV (Google Ventures) with participation from Coatue, CIV, and MCJ Collective.</strong> With the latest round of funding, Verse is expected to scale commercial operations and develop new product capabilities to help organizations reduce emissions and lower electricity costs. The company’s technology leverages generative AI to help companies define clean energy goals and plan, procure, and manage optimal portfolios of clean energy assets at the least cost.</p>
<p><strong>Engineering, procurement, and construction firm Soleos Solar Energy has </strong><a href="https://www.mercomindia.com/soleos-solar-energy-secures-6-5-million" target="_blank" rel="noopener"><strong>raised</strong></a><strong> ₹485 million (~$6.5 million) in equity funding </strong>to drive expansion in India and abroad. The investment round was led by Swastika Investmart, along with Beeline Capital Advisors serving as co-advisors. Soleos said the funding round included India Ahead Venture Fund and several high-net-worth individuals. The company said that the fresh capital will bolster Soleos’ working capital and support its global expansion plans.</p>
<p><strong>Bengaluru-based technology startup NoPo Nanotechnologies </strong><a href="https://www.mercomindia.com/carbon-nanotube-maker-production-and-market-reach" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $3 million in a pre-Series A funding round by Axilor’s Micelio Fund and Inflexor Ventures.</strong> The funds will be used to scale production, improve engineering capabilities, and implement a global market strategy. NoPo said it has developed innovative technology to produce high-quality single-walled carbon nanotubes, which have been in development for the past decade.</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-origis-energy-funding-kkr" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Recurrent Energy Secures $1.4 Billion Credit Facility


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-verkor-raises-1-5-billion/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Verkor, a manufacturer of lithium-based battery cells and modules, </strong><a href="https://mercomcapital.com/verkor-raises-develop-battery-gigafactory/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €1.45 billion (~$1.54 billion) </strong>with a mix of equity and debt funding to build its gigafactory. The series C funding totaled €850 million (~$905 million) and was led by Macquarie Asset Management via its fund dedicated to solutions for the energy transition. Other investors who participated in the equity round include Meridiam, Renault Group, EQT Ventures, EIT InnoEnergy, Sibanye-Stillwater, Crédit Agricole Assurances, and Bpifrance.</p>
<p><strong>Serentica Renewables has achieved financial </strong><a href="https://www.mercomindia.com/serentica-secures-from-pfc-for-green-energy-expansion" target="_blank" rel="noopener"><strong>closure</strong></a><strong> for its upcoming hybrid renewable energy projects in Karnataka</strong>. The entire debt funding of ₹26 billion (~$313.3 million) has been secured from power sector lender Power Finance Corporation. Serentica aims to install 4 GW of renewable energy capacity across India. In Karnataka, it plans to set up 400 MW of wind and solar energy capacities.</p>
<p><strong>Juniper Green Energy, an independent renewable energy power producer and operator of solar, wind, and hybrid power projects</strong>, has <a href="https://www.mercomindia.com/juniper-green-energy-from-at-capital-group-vitol" target="_blank" rel="noopener">received</a> an investment of $150 million from AT Capital Group and Vitol to support the expansion of its operational capacity. The two investors had invested $200 million in Juniper nearly two years ago. With an operational portfolio of nearly 800 MW and an under-construction capacity of 435 MW, Juniper Green expects to solidify its position as a key player in the Indian renewable energy sector.</p>
<p><strong>Heliene, a manufacturer of solar PV modules, </strong><a href="https://mercomcapital.com/heliene-raises-expand-module-manufacturing-in-the-us/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> a $170 Million funding round, including a mix of $20 million in equity and $150 million in debt funding</strong>. The funding will be utilized for Heliene’s expansion. The $150 million credit facility was provided by Orion Infrastructure Capital (OIC), an infrastructure investment firm. The $20 million equity round included participation from OIC and 2Shores Capital, an Ontario-based private investment company. Two existing Heliene customers – Valta Energy and Bullrock Renewables – joined the round.</p>
<p><strong>Indian battery technology startup Dreamfly Innovations has </strong><a href="https://mercomcapital.com/dreamfly-innovations-raises-300000-for-graphene-battery-development/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $300,000 in funding</strong> through a round led by Rebalance Angel Community, with participation from IIM Ahmedabad’s Center for Innovation Incubation and Entrepreneurship. The startup plans to utilize the funds for product commercialization and expanding its team. Dreamfly aims to revolutionize the future of energy by leveraging software-defined battery technology which employs software algorithms to optimize battery performance, efficiency, and safety.</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/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://mercomindia.com/funding-and-ma-roundup-ambient-photonics-secures-30-million" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Verkor Raises $1.5 Billion to Develop Battery Gigafactory

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