From: Mercom Capital Group

Aukera Energy, a pan-European renewable energy and battery storage developer, has closed a €460 million (~$533 million) structured credit facility led by institutional investor EIG. The financing expands an earlier facility that included an initial €200 million (~$232 million) commitment and an accordion feature of up to €250 million (~$290 million). Aukera said the additional capital will support the development of renewable energy generation, battery storage, and other projects in its five European markets, including Belgium, the U.K., Germany, Romania, and Italy.

Odyssey Energy Solutions, a platform for financing distributed renewable energy projects in emerging markets, has raised $74 million in new financing, comprising $27 million in equity and $47 million in debt. According to Odyssey, the financing will be used to expand its platform, which connects more than 6,000 solar installers and engineering, procurement, and construction companies with financiers and equipment suppliers in more than 50 countries across Africa, Asia, and Latin America.

SunPower, a solar technology, services, and installation company, raised $26.2 million through an equity private placement, primarily from investors based on Sand Hill Road in Silicon Valley. Foris Ventures, the family office of John Doerr, chairman of venture capital firm Kleiner Perkins, anchored the round. The company did not disclose the number of shares issued, the price per share, or the other investors participating in the private placement.

Power electronics company Zenergize Technologies, which develops silicon carbide products, has raised $4 million (~₹378.9 million) in a Pre-Series A funding round led by Giraffe Studios and other investors. Zenergize develops silicon carbide-based direct current fast charger and solar inverter platforms. The company is also developing hybrid inverters and battery energy storage inverters. The fundraise comprised equity and venture debt.

India-based power electronics startup Leanwatts has raised approximately $2 million (~₹181.5 million) in seed funding across two tranches, led by Trivest Partners, with participation from angel investors Abraham George and Alok Rungta. Leanwatts said it will use the funding to deepen its research and development activities, strengthen its supply chain, increase localization, and expand manufacturing capabilities.

Flex, a company providing power and thermal management solutions, has entered into a definitive agreement to acquire EPC Power, a North American designer and manufacturer of software-defined power conversion solutions for applications, including data centers, utility-scale energy storage, and microgrids, for $4.4 billion. Following the completion of the transaction, EPC Power will operate as a business within Flex’s Cloud and Power Infrastructure segment.

Qualitas Energy, an investment firm specializing in renewable energy, energy transition, and sustainable infrastructure, has signed a definitive agreement to acquire Cero Generation’s core European platform from Macquarie Group, comprising a 5.8 GW portfolio of solar photovoltaic and battery energy storage projects across the U.K., Italy, and Spain. The portfolio includes more than 2 GW of projects in operation, under construction, or at the ready-to-build stage, along with a further 3.8 GW development pipeline.

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.