Trina Solar, a solar and smart energy total solution provider, announced its acquisition of the remaining 49% equity in Nclave Renewable to make Nclave a wholly-owned subsidiary of Trina Solar. The acquisition of the remaining equity is an important strategic deployment for Trina Solar and will further enhance its market competitiveness.
Solar home systems provider Lumos has secured $35 million from the U.S.-based Development Finance Corporation, a new agency created by the merger of Overseas Private Investment Corporation and the Development Credit Authority to accelerate the spread of its electrification solutions in Nigeria.
First Solar, a manufacturer of solar panels and a provider of utility-scale PV projects and services, announced the commencement of an underwritten registered secondary offering of 8,649,074 shares, or approximately 8.2%, of the company’s outstanding common stock.
Renewable Properties, a developer and investor of small-scale utility and community solar projects throughout the U.S., has successfully raised $30 million from funds managed by CarVal Investors, a global alternative investment fund manager. Funds will be used to further develop Renewable Properties’ existing utility-scale solar project pipeline, expand development efforts into new and existing markets, and secure new project opportunities and acquisitions.
NextEra Energy, a renewable energy company, announced that it intends to sell $2 billion of equity units. Each equity unit will be issued in a stated amount of $50. Each equity unit will consist of a contract to purchase NextEra Energy common stock in the future and a 5% undivided beneficial ownership interest in a NextEra Energy Capital Holdings, debenture due September 1, 2025, to be issued in the principal amount of $1,000.
Madhav Infra Projects Limited will sell its solar business undertaking to its wholly-owned subsidiary Madhav Renewables Private Limited, by way of slump sale through a business transfer agreement.
LaBella Associates, a multi-discipline design firm, has completed the acquisition of Solar Ground-N-Pound, a solar contractor headquartered in Hamlin, New York. Through the deal, LaBella adds niche solar civil, mechanical, and construction capabilities to its full suite of professional services for the renewable energy industry. Solar Ground-N-Pound’s 22 employees will begin operating as LaBella immediately.
For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.
Read our last week’s funding roundup here.
Image credit: Ventura Energy Systems