EQT Infrastructure, an investment firm, announced that its EQT Infrastructure VI fund acquired Madison Energy Investments (MEI), a solar and energy storage project developer, from affiliates of Stonepeak Partners. EQT Infrastructure will support the MEI management team and platform by providing access to growth capital to accelerate the deployment of distributed solar and storage assets, offering EQT’s in-house digital expertise to digitize the organization further, and expanding MEI’s reach across a broader customer base.
Fastned, an electric vehicle (EV) charging company, raised €10.8 million (~$11.4 million) with the issue of new bonds to fund the company’s further expansion. In addition, investors have also extended €2.3 million (~$2.4 million) worth of investments from earlier issues, bringing the total issued amount in this round to over €13 million (~$13.8 million). The newly issued bonds will mature in June 2027. The company provides EV charging solutions and has more than 230 stations operational in the Netherlands, Germany, the United Kingdom, Belgium, France, and Switzerland and is working on expanding its fast-charging network to the rest of Europe.
Alternus Energy Group, an independent power producer, has completed a €500 million (~$531 million) financing agreement with Deutsche Bank. The funding has an approved initial draw of €80 million (~$85 million). The funding proceeds will be used to acquire solar photovoltaic assets in Europe, support the closure of currently contracted acquisitions, and finance the construction of up to 600 MW of the development pipeline.
SmartHelio, a solar software provider, has raised $5 million to scale its software that measures the live data on voltage, tension, and temperature from solar projects. The data is used to predict failures, enable proactive maintenance, and make climate-resilient assets using its proprietary climate dynamics-based forecasting tool.
Samara, a provider of consumer-centric solar electricity bill savings software solutions, raised seed funding of €4.5M (~$4.78 million). The round was led by Seaya and saw participation from Pelion Green Future. The company is expected to use the funds for its expansion at a national level and open several installation hubs across Spain.
Plugzmart, a provider of electric vehicle (EV) Charging solutions, raised ₹36.3 million (~$438,000) in seed funding from Bluehill Capital and angel investors Meera Reddy of SKCL (Sri Kausalya Constructions), Kartik Meyyappan, L Ramkumar, Sivadas Raghava, and Shailaja Reddy. The company plans to use the funds for research and development and ramp up production to meet the large order pipeline. The company aims to deliver at least one million indigenously designed and manufactured chargers in the next three years.
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.