Funding and M&A Roundup: Invenergy Secures $900 Million Green Loan

Invenergy, a developer of renewable energy projects, secured a $900 million Green Letter of Credit facility to support the development of Invenergy Renewables Finance North America’s project pipeline. The funding will also support Invenergy’s development pipeline of large-scale renewable and other clean energy generation and storage facilities in the Americas. Natixis Corporate & Investment Banking (Natixis CIB) acted as Sole Bookrunner, Syndication Agent, Administrative Agent, Documentation Agent, and Green Loan Coordinator.

The Japan Bank for International Cooperation (JBIC) has entered into strategic loan agreements with NTPC Renewable Energy and NHPC to help develop renewable energy projects across India. The loans for the public sector undertakings are co-financed with Sumitomo Mitsui Banking Corporation and the Bank of Fukuoka, with JBIC providing 60% of the total financing. NTPC Renewable Energy has secured a loan of JPY15 billion (~$99.11 million) to fund its renewable energy projects, with JBIC contributing JPY9 billion (~$59.46 million).

Energy storage developer Lightshift Energy (formerly Delorean Power) secured $100 million from Greenbacker Capital Management (GCM), a renewable energy asset manager. Of the total funds secured, $20 million originated from a GCM-affiliated investment vehicle focused on equity investments in sustainable infrastructure development platforms. These funds will be used to expand Lightshift’s team, accelerate sales, and enhance its project pipeline. Lightshift secured $80 million from a second GCM-affiliated investment vehicle specialized in sustainable infrastructure assets.

Independent power producer AmpIn Energy Transition has secured an investment from Oesterreichische Entwicklungsbank (OeEB), the Development Bank of Austria, totaling €25 million (~$26.9 million) in long-term financing. The capital infusion is expected to aid AmpIn Energy Transition in establishing a 1 GW domestic solar cell and module production facility in Odisha and expanding its renewable energy portfolio. The company has a diverse portfolio spanning 3 GW across 21 states in India and plans to expand it to 10 GW by 2030.

Ionobell, a silicon battery technology company, raised $3.9 million in a recent seed extension round led by Dynamo Ventures and Trucks VC, bringing the total funding amount to $7.3 million in seed investment fundraising. The initial equity round was led by Trucks VC, with participation from Dynamo Ventures and Alumni Ventures. The company claims its silicon material is 500% more energy-dense than Graphite. With this funding, Ionobell plans to expand its production across the U.S.

MN8 Energy, an independent power producer, has announced the completion of its private placement, raising $325 million through the issuance and sale of convertible preferred stock. The funds obtained from the private placement will be allocated towards supporting the company’s expanded operations and facilitating its growth. The $325 million private placement comprises a $200 million investment from Mercuria Energy Group, an independent energy and commodity group, and $125 million from Ridgewood Infrastructure.

For reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors, click here.

Read last week’s funding roundup.