From: Mercom Capital Group

Crux, a clean energy finance platform, has closed a $500 million debt financing facility with Nuveen Energy Infrastructure Credit, Nuveen’s infrastructure credit investment platform. Skadden, Arps, Slate, Meagher & Flom served as Crux’s legal adviser. Milbank served as legal adviser to Nuveen. Crux said it will use the facility to finance Crux-led tax-driven investments. These investments include hybrid tax equity transactions. The financing expands Crux’s role as a general partner in tax-driven investment strategies.

MN8 Energy, a U.S.-based renewable independent power producer, closed an upsizing and extension of its corporate credit facility, increasing it from $350 million to $650 million. The maturity of the facility has been extended from the first quarter of 2028 to the third quarter of 2030. The upsized facility provides up to $550 million in revolving borrowing capacity and an additional $100 million in new capacity for performance letters of credit. MN8 said the letters of credit will support development-stage requirements, including power purchase agreements and interconnection security deposits.

Elong Power Holding, a company that provides lithium-ion battery solutions for energy storage systems and EVs, announced the closing of its $6 million underwritten public offering. The company issued 4,615,500 units at $1.30 per unit. Each unit consisted of one Class A ordinary share, or a pre-funded warrant instead of a share, and one common warrant to purchase one Class A ordinary share, carrying a par value of $0.0128 per share.

Nextpower, a solar PV solutions provider, has entered into a definitive agreement to acquire complementary assets of Zigor Corporation’s power-conversion business and its U.S.-based subsidiary, Apex Power. The transaction is expected to expand Nextpower’s product portfolio and capabilities in utility-scale solar power conversion. It would also support its entry into the battery energy storage and data center markets. Nextpower said the transaction is expected to support the scale-up of inverter manufacturing capacity in the U.S., with production expected to ramp in 2027.

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.