SJVN’s Heat and Power Generating Green Hydrogen Project Starts Operation

Bihar Invites Bids for 200 MW Rooftop Solar Projects

REC Avails $388 Million Loan from SACE for Green Energy Projects

Daily News Wrap-Up: RUMSL Invites Bids to Develop 170 MW Solar Project

US Solar Manufacturers File Trade Petition Against Solar Imports From Southeast Asia

Captive Segment Growth Drives KPI Green’s Profit Up 36% in Q4 FY24

Corporate Funding in Energy Storage Sector Surges Five-Fold to $11.7 Billion in Q1

CERC Grants Connectivity for 300 MW Solar Project Citing Force Majeure Events

Hitachi Energy Invests $1.5 Billion to Meet Surging Transformer Demand

US Aims to Slash Grid Interconnection Timeline from 33 to Under 12 Months by 2030

From: <a href="https://mercomcapital.com/funding-and-ma-roundup-solar-developer-greencells/" target="_blank" rel="noopener">Mercom Capital Group</a>
WattBuy, an online electricity marketplace, <a href="https://tinyurl.com/mercomwbss" target="_blank" rel="noopener noreferrer">announced</a> that it raised $3.25 million in its Series A round of funding led by Evergy Ventures. Additional investors include Updater, Avesta Fund, Yoav Lurie, John Sherman, and Bill Gatreaux. Existing investors also participating in this round include Fort Ventures, Techstars Ventures, and Powerhouse Ventures.
Acciona will <a href="https://jornaleconomico.sapo.pt/en/news/acciona-will-invest-150-million-euros-to-double-energy-park-in-portugal-665389" target="_blank" rel="noopener noreferrer">invest</a> €150 million (~$177.98 million) in doubling its energy park in Portugal over the next five years. The reinforcement of Acciona&#8217;s production capacity in Portugal until 2025 will be achieved mostly through solar PV projects.
Octopus Renewables Infrastructure Trust announced that it <a href="https://tinyurl.com/mercomrbvh" target="_blank" rel="noopener noreferrer">secured</a> a committed £150 million (~$199 million) revolving credit facility (RCF) from a group of five lenders. The RCF, provided by Banco de Sabadell, Intesa Sanpaolo London Branch, National Australia Bank, NatWest, and Santander, has a term of three years and has an uncommitted accordion allowing the facility to be increased by up to a further £100 million (~$132.7 million). The company expects to use a portion of the RCF to fund existing construction and acquisition payment commitments.
Lendlease, an international property and infrastructure group, <a href="https://tinyurl.com/mercomldls" target="_blank" rel="noopener noreferrer">announced</a> that Magnetar Capital, an alternative asset manager, acquired Lendlease&#8217;s energy development business. The acquired company will rebrand itself as Vesper Energy. This transaction supports Lendlease&#8217;s global strategy to recycle capital and focus on the delivery of its U.S. development pipeline. The acquired business is a leading developer of utility-scale solar and energy storage projects across the U.S.
SunVest Solar, a solar development company, <a href="https://tinyurl.com/mercomsncg" target="_blank" rel="noopener noreferrer">announced</a> a platform growth investment and equity capital commitment from Euclid Capital. The partnership creates a vertically integrated solar company, including a development pipeline backed by growth capital, 20 MW of operating and construction-stage solar projects, and $50 million of long-term sponsor equity to expand its owned and managed solar PV projects to more than 150 MW. Upon closing the transaction, Euclid Capital will become a partner at SunVest and join its board of directors.
Greencells, a global engineering, procurement, and construction and maintenance service provider for utility-scale solar projects, <a href="https://tinyurl.com/mercomgrcl" target="_blank" rel="noopener noreferrer">issued</a> a secured bond with a volume of up to €25 million (~$30 million) and a coupon of 6.5% p.a. over a term of five years. The security qualifies as a Green Bond as the sustainability rating agency, imug, confirms that the Green Bond of Greencells complies with the International Capital Market Association&#8217;s Green Bond Principles (GBP). Interested investors can subscribe for the Greencells Green Bond within a public offering in Germany, Austria, and Luxembourg from November 16, 2020, to December 07, 2020, via the subscription functionality DirectPlace of the Frankfurt Stock Exchange in the XETRA trading system.
Plug Power &#8211; a designer and manufacturer of fuel cell systems &#8211; <a href="https://tinyurl.com/mercomppoc" target="_blank" rel="noopener noreferrer">announced</a> the pricing of an upsized offering of 38,000,000 shares of its common stock at a price to the public of $22.25 per share. Plug Power has granted the underwriters a 30-day option to purchase up to an additional 5,700,000 shares at the public offering price, less the underwriting discount.
Form Energy, developer of a long duration flow battery using a polysulfide solution containing chains of sulfur atoms, landed its biggest batch of <a href="https://tinyurl.com/mercomfenf" target="_blank" rel="noopener noreferrer">funding</a>. Mateo Jaramillo, the chief executive, and co-founder of Form Energy, said that the company had closed Series C funding of more than $70 million. Funding in the company now totals more than $120 million.
Schneider Electric, an energy management, and automation company, <a href="https://tinyurl.com/mercometap" target="_blank" rel="noopener noreferrer">announced</a> that it had acquired a controlling stake in ETAP Automation (ETAP), a software platform for electrical power systems modeling and simulation.
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&#8217;s funding <a href="https://mercomindia.com/funding-and-ma-roundup-panelclaw-acquired/" target="_blank" rel="noopener noreferrer">roundup</a>.
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/staff/" class="vcard author" rel="author">Staff</a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Funding and M&A Roundup: Solar Developer Greencells Issues Green Bonds of up to €25 Million

zenobe-energy

Get the most relevant India solar and clean energy news.

RECENT POSTS