REC Limited Archives - Mercom Capital Group

Funding and M&A Roundup: SmartSolar Raises $1.8 Million in Seed Funding ORIT secures $125 million five-year term loan facility SmartSolar, a rooftop solar solution provider, has raised $1.85 million in seed funding. The funding was led by Picus Capital and 2degrees, along with participation from early-stage venture capital firm Iterative. With this funding, the company plans to accelerate its growth in Vietnam and expand its footprint across Southeast Asia. The company offers rooftop solar solutions designed to help businesses cut down on electricity costs. Octopus Renewables Infrastructure Trust, an investment company, announced that it has signed a £100 million (~$125 million) five-year term loan facility with three of its existing lenders, Santander, National Australia Bank, and Allied Irish Banks. The funding will be used to pay down a portion of the existing and more expensive Revolving Credit Facility (RCF) debt. According to ORIT, it has drawn £151.2 million (~$191 million) on the RCF so far. Vidyut, an electric vehicle ecosystem platform, has raised $2.5 million in funding from global investor Flourish Ventures. The company will utilize the acquired funds to expand its Battery-as-a-Service offering in passenger and commercial EV segments. By unbundling batteries from EVs and offering them on a pay-per-km subscription basis, Vidyut claimed it had reduced upfront electric three-wheeler costs by 35-40%. 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. Tags: Vidyut, Octopus Renewables Infrastructure Trust, SmartSolar, solar, funding

Funding and M&A Roundup: Naked Energy Raises $22 Million

July 17, 2024
Staff
Solar, Storage

Naked Energy, a provider of solar thermal and solar PVT solutions, secured £17 million (~$22.06 million) in a Series B funding round led by E.ON

Project Finance Brief: Emeren Group Sells 42 MW Solar Project Portfolio in Spain

July 17, 2024
Staff
Solar, Storage

Emeren Group, a solar project developer, announced the sale of a 42 MW ready-to-build solar project portfolio in Spain to CVE España, part of CVE,

CleanChoice Energy Acquires 54.2 MW Solar Projects

Project Finance Brief: Mytilineos Secures Financing for 588 MW Solar Portfolio

January 17, 2024
Staff
Solar, Storage

Mytilineos, a Greek industrial conglomerate, has reached the financial close for its 588 MW non-recourse solar park portfolio in Chile. The financing was secured from

Funding and M&A Roundup: BESS Developer NineDot Raises $225 Million

January 17, 2024
Staff
Solar, Storage

NineDot Energy, a developer of community-scale battery energy storage systems (BESS), has secured a $225 million equity capital commitment from Manulife Investment Management along with