Funding and M&A Roundup RWE Acquires Poland’s Alpha Solar

RWE, a German energy utility company, has acquired Alpha Solar, a Polish PV solar developer. With this transaction, RWE takes over a 3 GW solar project pipeline in Poland. The acquisition adds to RWE’s existing global development pipeline of 10 GW in solar projects. The projects acquired are spread across Poland. Most projects are utility-scale and in various stages of development. The maturity of projects ranges from early phase identified opportunities to ready-to-build projects.

Octopus Energy Group, a British renewable energy group, specializing in sustainable energy, has acquired a 24% stake in renewables developer Exagen through their new Octopus Energy Development Partnership fund. The deal includes an option to purchase a 500 MW/1 GWh battery project located in the Midlands, England, which is scheduled to be operational by 2027.

Moixa, a provider of distributed energy resources management software, has announced that it has been acquired by Lunar Energy, a company focusing on providing clean energy products to deliver home electrification at scale. Moixa’s investors ITOCHU and HONDA have now also become shareholders in Lunar, alongside lead investors Sunrun and SK Group.

Germany-based Schuler Group, a subsidiary of Andritz, an international technology group offering plants, equipment, systems, and services for various industries, acquired Sovema Group, an Italian battery manufacturer. With this deal, Schuler will be the sole owner of Sovema. The companies aim to develop the capabilities needed to equip gigafactories for the mass production of lithium-ion batteries to cater to the growing e-mobility industry and produce laminations for electric motors and electrolyzes for the hydrogen industry.

EnergyCAP, an energy and sustainability enterprise resource planning software company, announced the acquisition of Wattics. Wattics is an energy management analytics and monitoring platform allowing professionals in the energy and sustainability industry to manage, monitor, and analyze energy and commodities from a single dashboard.

Zitara, a machine-learning powered battery management software company, has announced the close of a $12 million Series A round led by Energy Impact Partners with existing investors NextView Ventures, Collaborative Fund, and Trucks VC. The company will use the capital from this round to accelerate the adoption of its software with a near-term focus on state monitoring and safety problems faced by mobility and grid-scale customers adopting lithium iron phosphate batteries.

Steag, a German power group, is acquiring a stake in Solytic, a Berlin-based digital platform operator designed to enhance the performance of solar projects. The Berlin-based startup supplies cloud-based, manufacturer, and hardware-independent monitoring software for photovoltaic systems. With this software solution, the performance of PV plants can be monitored, and their economic efficiency can be increased. Details about the acquired equity stake and the deal price were not disclosed.

Priority Power, an energy management and consulting services firm focused on energy supply, information, and demand management, has completed the acquisition of the energy procurement, consulting, and solar development business of Affordable Gas & Electric Company (AGE). This transaction increases Priority Power’s footprint in Midwest energy markets. The acquisition of AGE’s solar development business increases Priority Power’s fast-growing solar development business.

Enphase Energy, a microinverter-based solar and battery system supplier, announced that it has agreed to acquire GreenCom Networks. Based in Munich, Germany, GreenCom Networks provides Internet of Things software solutions for customers to connect and manage a wide range of distributed energy devices within the home. The company’s technology facilitates a convergence of sectors such as mobility, heating, and renewable energy, often referred to as sector convergence or sector coupling, to help achieve full home electrification.

Sunwoda Electric Vehicle Battery, the electric vehicle battery subsidiary of Chinese battery maker Sunwoda, has closed a new round of financing worth about RMB8 billion ($1.18 billion), bringing its valuation to about RMB30 billion (~$4.3 billion). Sunwoda EVB is one step closer to spinning off and going public with this financing round.

Cygni Energy, an energy storage company, announced it had raised $12.5 million through a combination of equity and debt. The equity funding is led by Meridian Global Ventures, and the debt by Indian Overseas Bank. The funds will be used to set up a new greenfield battery manufacturing facility in Telangana, India. The company has recently acquired a land parcel in the state under the state EV policy to set up the facility.

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.