Aspen Power, a distributed energy generation platform, announced the closing of a $200 million capital raise provided by Deutsche Bank. Aspen is said to partner with businesses, communities, and other industry participants to develop, construct, own, and operate renewable energy assets. According to the company, this financial commitment enhances its ability to execute its pipeline, attract greater vendor engagement, and accelerate project delivery.
Inox Clean Energy, the renewable arm of the INOXGFL Group, along with its subsidiary, Inox Solar, raised equity totaling ₹31 billion (~$342.83 million), valuing the company at ₹500 billion (~$5.54 billion) on a pre-money basis. The equity round attracted participation from foreign and domestic investors, including the California Public Employees’ Retirement System, a U.S. pension fund; SUN Group Global; Authum Investment; Akash Bhansali; other family investors; and high-net-worth individuals.
KOREALFP, a manufacturer of lithium iron phosphate battery cells and modules for e-mobility, energy storage, and industrial power applications, raised 4.35 billion KRW (~$3 million) in funding from Korinvest Group, a U.S. investment firm focused on backing Korean startups and venture companies. This follows an investment of approximately $200,000 that the company received in October last year. KOREALFP secured this investment in connection with CES 2026, where it showcased its battery safety technologies.
Electric vehicle charging infrastructure company ROADGRID raised ₹120 million (~$1.44 million) in a Pre-Series A funding round led by Venture Catalysts. The round also saw participation from a mix of strategic and angel investors, including the Skyline Group of Companies, IPV, FAAD Network, Let’s Venture, Pace Group, Arthanomics, and Alpha Value. ROADGRID has raised a total of $1.33 million in funding, including the latest Pre-Series A round.
Otovo, a home energy service provider, entered into a definitive agreement to acquire Solar Service Professionals (SSP), a California-based solar service provider. SSP provides solar service business with an installed customer base of 38,000 customers since 2017. The acquisition of SSP marks Otovo’s strategic entry into California’s residential solar plus storage market. The company plans to convert the existing California base of SSP customers to its subscription service, expecting this initiative to be accretive to net income in 2026.
Pattern Energy, a company that develops and operates clean energy and transmission infrastructure, entered into a definitive agreement to acquire Cordelio Power, an independent power producer in Canada and the U.S. According to Pattern Energy, the acquisition will help it grow its energy portfolio in the U.S. and Canada. Cordelio Power is wholly owned by CPP Investments, the majority shareholder of Pattern Energy.
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.
