Pivot Energy, a commercial and community solar project developer, has acquired SGC Power, a Maryland-based community solar developer. SGC Power has been involved in 2.8 GW of solar projects since the company’s founding in 2008.
On.Energy, a fully integrated battery energy storage system provider, closed $100 million in funding from Sustainable Development Capital (SDCL) Energy Efficiency Income Trust (SEEIT). The company said that the conditional financing commitment would accelerate the deployment of battery energy storage systems for corporate, industrial, and utility customers across the United States and Canada.
KKR, an investment firm, announced that it had led a structured investment in Arevia Power, a renewable energy developer, with participation by GCM Grosvenor, an alternative asset management solutions provider. The investment will support the company’s accelerated growth and development of new solar and wind projects throughout the United States. Arevia is advancing a multi-gigawatt portfolio of early-stage projects across the country. The financial terms of the deal were not disclosed.
A wholly-owned subsidiary of Tata Power, Tata Power Renewable Energy Limited (TPREL), has approved the allotment of 83.6 million equity shares with a face value of ₹10 (~$0.125) each at a price of ₹239.22 (~$2.99) per share, including a premium of ₹229.22 (~$2.87), to support TPREL’s growth plans. The allotted shares aggregate to ₹20 billion (~$251 million) on a preferential basis to GreenForest New Energies Bidco Limited, a joint investment vehicle of BlackRock Real Assets and Mubadala Investment Company owned by the Abu Dhabi government.
Solar Energy-focused deep tech startup Renkube has secured ₹24 million (~$300,000) in a seed round led by CIIE.CO, a startup incubator established by IIM Ahmedabad. JITO Angel Network and K4 Forum Mumbai Network participated in this round. Halliburton Labs, a wholly owned subsidiary of American hydraulic fracturing operations company Halliburton, also took part in the funding round via Renkube’s selection to its clean energy accelerator.
For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.
Read last week’s funding roundup.
