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Sunrun, a provider of residential solar energy solutions, has <a href="https://cms.mercomindia.com/sunrun-prices-629-million-in-senior-securitization/" target="_blank" rel="noopener">priced</a> $629 million in the securitization of leases and power purchase agreements. ATLAS SP Partners was the sole structuring agent and served as joint book-runner alongside BofA Securities, Morgan Stanley, MUFG, and TD Securities. First Citizens Capital Securities and ING acted as co-managers for the securitization. This marks the company’s 13th securitization since 2015 and its first issuance in 2025.
Encore Renewable Energy, a renewable energy developer and operator, <a href="https://cms.mercomindia.com/encore-renewable-energy-secures-389-million/" target="_blank" rel="noopener">secured</a> a $389 million financing solution from Brookfield through its infrastructure debt platform. The funding structure combines a construction-to-term debt loan and a tax equity bridge into one debt facility, along with a separate preferred equity facility specifically for tax equity financing. This funding will allow the company to expand its efforts as an independent power producer.
REC Silicon, a company that produces advanced silicon materials for the solar and electronics industries and a wholly owned subsidiary of REC Silicon ASA, has <a href="https://cms.mercomindia.com/rec-silicon-announces-million-term-loan/" target="_blank" rel="noopener">secured</a> a $40 million term loan with Hanwha International, an affiliate of the company’s two largest shareholders, Hanwha Solutions and Hanwha Corporation. This loan is expected to support REC Silicon’s liquidity position and provide it with the capital necessary to cease production at Moses Lake safely and in compliance with applicable regulations.
Cancrie, an energy storage company, has <a href="https://www.mercomindia.com/energy-storage-firm-cancrie-raises-1-2-million-in-maiden-funding-round" target="_blank" rel="noopener">raised</a> $1.2 million (₹103.62 million) in a maiden institutional seed round from Roots Ventures and IIMA Ventures. The funds will be used to scale production, accelerate research and development, and forge partnerships to integrate its advanced nanocarbon materials into next-generation energy storage devices. The company aims to produce at least 50,000 batteries per month. Cancrie develops advanced carbon materials for energy storage devices, focusing on sustainability and performance.
Niko Energy, a solar energy startup, has <a href="https://www.linkedin.com/company/niko-energy/posts/" target="_blank" rel="noopener">raised</a> a $23 million in a funding round — $8 million in equity and $15 million in financing from local debt investors. The equity funding was led by QED Investors, alongside Picus Capital, 468 Capital and Bridge Latam. The funding will be used for growth as the company plans for nationwide deployment.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-ma-roundup-flexgen-power-systems-secures-75-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Sunrun Prices $629 Million in Senior Securitization

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-sunrun-prices-629-million-in-senior-securitization/" target="_blank" rel="noopener">Mercom Capital Group</a>
Sunrun, a provider of residential solar energy solutions, has <a href="https://mercomcapital.com/sunrun-prices-629-million-in-senior-securitization/" target="_blank" rel="noopener">priced</a> $629 million in the securitization of leases and power purchase agreements. ATLAS SP Partners was the sole structuring agent and served as joint book-runner alongside BofA Securities, Morgan Stanley, MUFG, and TD Securities. First Citizens Capital Securities and ING acted as co-managers for the securitization. This marks the company’s 13th securitization since 2015 and its first issuance in 2025.
Encore Renewable Energy, a renewable energy developer and operator, <a href="https://mercomcapital.com/encore-renewable-energy-secures-389-million/" target="_blank" rel="noopener">secured</a> a $389 million financing solution from Brookfield through its infrastructure debt platform. The funding structure combines a construction-to-term debt loan and a tax equity bridge into one debt facility, along with a separate preferred equity facility specifically for tax equity financing. This funding will allow the company to expand its efforts as an independent power producer.
REC Silicon, a company that produces advanced silicon materials for the solar and electronics industries and a wholly owned subsidiary of REC Silicon ASA, has <a href="https://mercomcapital.com/rec-silicon-announces-million-term-loan/" target="_blank" rel="noopener">secured</a> a $40 million term loan with Hanwha International, an affiliate of the company’s two largest shareholders, Hanwha Solutions and Hanwha Corporation. This loan is expected to support REC Silicon’s liquidity position and provide it with the capital necessary to cease production at Moses Lake safely and in compliance with applicable regulations.
Cancrie, an energy storage company, has <a href="https://www.mercomindia.com/energy-storage-firm-cancrie-raises-1-2-million-in-maiden-funding-round" target="_blank" rel="noopener">raised</a> $1.2 million (₹103.62 million) in a maiden institutional seed round from Roots Ventures and IIMA Ventures. The funds will be used to scale production, accelerate research and development, and forge partnerships to integrate its advanced nanocarbon materials into next-generation energy storage devices. The company aims to produce at least 50,000 batteries per month. Cancrie develops advanced carbon materials for energy storage devices, focusing on sustainability and performance.
Niko Energy, a solar energy startup, has <a href="https://www.linkedin.com/company/niko-energy/posts/" target="_blank" rel="noopener">raised</a> a $23 million in a funding round — $8 million in equity and $15 million in financing from local debt investors. The equity funding was led by QED Investors, alongside Picus Capital, 468 Capital and Bridge Latam. The funding will be used for growth as the company plans for nationwide deployment.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week’s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-flexgen-power-systems-secures-75-million" target="_blank" rel="noopener">roundup</a>.

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					</table> <a href="https://www.cancrie.co/" target="_blank" rel="noopener">Cancrie</a>, a Jaipur-based energy storage company, has raised $1.2 million (₹103.62 million) in a maiden institutional seed round from <a href="https://roots-ventures.com/" target="_blank" rel="noopener">Roots Ventures</a> and <a href="https://iimaventures.com/" target="_blank" rel="noopener">IIMA Ventures</a>.
The funds will be used to scale production, accelerate research and development, and forge partnerships to integrate its advanced nanocarbon materials into next-generation energy storage devices.
The company aims to produce at least 50,000 batteries per month.
Cancrie develops advanced carbon materials for energy storage devices, focusing on sustainability and performance. Their patented technology produces carbons to enhance battery performance across various chemistries, including lead-acid, lithium-ion, sodium-ion, redox flow batteries, and supercapacitors.
It aims to create superior energy storage solutions using renewable resources while maintaining affordability and achieving net-zero emissions. The company also extracts nanocarbons for batteries from coconut shells.
Cancrie claims its materials produce four times stronger electrodes, improve energy density by up to 20%, enhance charge acceptance by up to 60%, and extend the lifecycle of lead-acid batteries by more than 30%.
Corporate funding for energy storage companies, including venture capital investments, public market funding, and debt financing, <a href="https://www.mercomindia.com/mercom-capital-report-corporate-funding-energy-storage-smart-grid" target="_blank" rel="noopener">increased</a> 5% year-over-year in 2024.
Energy storage development in India is still in its infancy. As of March 2024, according to India’s Energy Storage Landscape report by Mercom India Research, the cumulative installed battery energy storage system (BESS) capacity was 219.1 MWh.
According to the National Electricity Plan 2023, India&#8217;s energy storage capacity requirement is projected to be 82.37 GWh (47.65 GWh from pumped storage projects and 34.72 GWh from BESS in 2026-27.
The Ministry of Power has also notified a long-term trajectory for the Energy Storage Obligation. The obligation will increase up to 4% by the financial year 2029-30.
In 2024, various agencies in India <a href="https://www.mercomindia.com/indias-top-battery-energy-storage-tenders-in-2024-infographics" target="_blank" rel="noopener">floated</a> tenders to develop projects with 3,625 MW/8,100 MWh of standalone BESS.

Energy Storage Firm Cancrie Raises $1.2 Million in Maiden Funding Round

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