Trina Solar, a solar module manufacturer, and smart energy solutions provider secured a $235 million non-recourse senior secured term green loan facility from Standard Chartered to support the development, construction, and operation of a 1.35 million square foot solar photovoltaic manufacturing plant in Wilmer, Texas. Standard Chartered served as the sole lead structuring bank and book-runner for the financing.
Powerdot, a provider of EV charging solutions, has secured €165 million (~$180 million) in green financing from ABN Amro, BNP Paribas, ING, MUFG Bank, Santander, and Société Générale. The €165 million (~$180 million) green financing facility – with an additional €60 million (~$65.5 million) of the uncommitted accordion facility – will be used to expand Powerdot’s network of EV charging points to reach more than 3,100 locations by 2026, enhance the technology and user experience, and grow and develop its team.
Electric vehicle charger manufacturer Exicom Tele-systems announced it is acquiring Tritium, an Australia-based manufacturer of DC fast chargers. Tritium has a presence in 47 countries. Exicom will gain access to Tritium’s manufacturing facility in Tennessee, U.S., and an engineering center in Brisbane, Australia. Tritium has sold over 13,000 DC fast chargers. It designs and manufactures proprietary hardware and software to create liquid-cooled DC fast chargers for electric vehicles.
Allego, an electric vehicle charging solutions provider, secured a €20 million (~$22 million) loan from the European Bank of Reconstruction and Development. This funding is a part of the CROSS-E project co-funded by the European Union. Allego plans to deploy over 200 light and heavy-duty vehicle (LDV /HDV) EV recharging points across over 50 strategic locations in Poland. The project in Poland is co-funded by the EU’s Connecting Europe Facility (CEF) program, supporting European transport infrastructure projects along the TEN-T Network and in Urban Nodes.
Electric vehicle battery manufacturing company Neuron Energy has raised ₹200 million (~$2.4 million) in a Series A funding from investors, including the Chona Family and Capri Global Family Office. The funds will be used to bolster Neuron’s research and development capabilities. This will include establishing an R&D laboratory in Pune and a manufacturing facility in Delhi, India. The company aims to clock ₹1.5 – 2 billion (~$17.86 – 23.81 million) in revenue in the current fiscal year.
Wind turbine manufacturer Suzlon Energy has announced the acquisition of a 76% stake in Renom Energy Services, a multi-brand renewable energy operations and maintenance service company. The acquisition will be completed in two tranches, with Suzlon initially acquiring a 51% stake for ₹4 billion (~$47.6 million), followed by an additional 25% stake within 18 months for ₹2.6 billion (~$30.9 million).
SYSO, a market operations service provider dedicated to renewable and energy storage assets, has raised $14.5 million in Series B funding led by Kimmeridge, an alternative asset manager specializing in the energy sector, with participation from existing SYSO investor Lacuna Sustainable Investments. The funding will be used to expand into new markets and improve its service for developers and independent power producers for the energy transition across the power sector.
Electric vehicle manufacturer Kinetic Green secured a ₹2.09 billion (~$25 million) investment from private equity firm Greater Pacific Capital, as part of an overall targeted Series A fundraiser of up to $40 million. The company plans to use the funds to scale production at its manufacturing facility in India, market and distribute its current products, including the newly launched ELuna, and research and develop new products.
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.
