Solar Module Capacity Under ALMM Grows to 215.5 GW

PFC Awards Project to Evacuate 3 GW of Renewables in Andhra Pradesh

Storage, Engineering, and Service Become Distributed Solar’s Growth Drivers

Daily News Wrap-Up: MNRE Proposes Uniform Solar Cell Nomenclature

MENA Weekly Round-Up: Egypt Signs PPA with Alcazar for 407 MW Wind Project

Solar Tender and Auction Activity Declines in Q2 2026

MNRE Proposes Standardized Nomenclature for Solar Cells Under ALMM List II

India Can Build a Complete Solar Manufacturing Ecosystem Within Five Years: Interview

Green Hydrogen and Storage Key to Curbing Renewables Curtailment: Interview

Juniper Green Energy’s IPO Oversubscribed 6.12 Times

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2026/06/amazon_polly_96195.mp3?version=1781068543">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/project-finance-brief-esvolta-secures-450-million-upsized-credit-facility/" target="_blank" rel="noopener">Mercom Capital Group</a>
esVolta, a developer, owner, and operator of utility-scale battery energy storage projects, has <a href="https://mercomcapital.com/esvolta-secures-450-million-upsized-credit-facility-for-energy-storage-portfolio/" target="_blank" rel="noopener">expanded</a> its corporate credit facility to up to $450 million to support new energy storage projects across North America. Nomura Securities International, a global investment bank in the energy and infrastructure sectors, led the transaction, which increases esVolta’s existing $200 million facility, which closed in March 2024.
Maxwell Power, formerly known as HDM Renewable Finance, a company that provides financing for residential solar and battery storage systems, has <a href="https://mercomcapital.com/maxwell-power-secures-750-million-investment-from-fairtide-partners/" target="_blank" rel="noopener">announced</a> that it has closed a $750 million investment commitment from Fairtide Partners to finance battery storage and solar power projects. The company said the rebrand reflects its shift from a residential solar and battery storage finance provider to a full-service consumer-facing power brand.
Sabanci Renewables, a renewable energy project developer, has <a href="https://mercomcapital.com/sabanci-renewables-secures-533-million-texas-solar-projects/" target="_blank" rel="noopener">secured</a> $533 million in financing for two solar projects in Texas, totaling 286 MW. The financing includes $382 million in project financing and $151 million in tax equity financing for the Pepper Solar Power Project in McLennan County and the Lucky 7 Solar Power Project in Hopkins County. Pepper Solar has a capacity of 156 MW, while Lucky 7 has 130 MW. Both projects are expected to achieve commercial operation in the second half of 2027, according to the company.
Svea Solar Utility, an independent renewable power producer, has <a href="https://mercomcapital.com/svea-solar-utility-secures-216-million-solar-storage-projects/" target="_blank" rel="noopener">secured</a> a holding company (HoldCo) financing facility of up to €185 million (~$216 million) from Eiffel Investment Group and Arkéa Asset Management to expand its solar and energy storage portfolio in Sweden. The HoldCo facility will provide flexible capital to fund the platform’s investment requirements across the project lifecycle. The company said the funding will support the development, construction, and operation of utility-scale solar photovoltaic and energy storage assets.
Aukera Energy, a renewable energy and battery storage developer, has <a href="https://mercomcapital.com/aukera-energy-secures-106-million-debt-for-battery-storage-project-in-belgium/" target="_blank" rel="noopener">reached</a> financial close of €97.5 million (~$106 million) on Project Volt, a 170 MW/340 MWh battery energy storage project in La Louvière, Belgium. ABN AMRO Bank and Triodos Bank are providing senior debt for the project as co-lead arrangers and bookrunners. ABN AMRO is also acting as a structuring bank, hedging bank, account bank, and agent. Belgian institutional investors are providing junior debt. I4B acted as lead junior lender, alongside Wallonie Entreprendre and SOCOFE.
Fidra Energy, a battery storage project developer backed by EIG and the National Wealth Fund, has <a href="https://mercomcapital.com/fidra-energy-acquires-1gw-battery-storage-project-uk/" target="_blank" rel="noopener">acquired</a> the 1,025 MW Enderby battery storage project in Leicestershire, U.K., from Innova, an independent developer of renewable energy projects and data centers. Innova received planning consent for the project in May 2025. The regulator is expected to decide on the project’s application under the scheme in the summer of 2026. Fidra expects to make a final investment decision in 2027, with operations beginning in 2029.
Qualitas Energy, an investment firm specializing in renewable energy, energy transition, and sustainable infrastructure, has <a href="https://mercomcapital.com/qualitas-energy-acquires-164-mw-solar-project-in-us/" target="_blank" rel="noopener">acquired</a> a development-stage solar project in Illinois, U.S., with a planned capacity of 164 MW from Bechtel Enterprises. The transaction was carried out through Qualitas Energy Fund VI, which was launched at the end of 2025. The company said it will use its investment, development, and asset management capabilities to advance the project through its next phases, including offtake strategy, procurement, construction planning, and financing.
 
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&#8217;s project finance <a href="https://www.mercomindia.com/project-finance-brief-bankinter-and-plenium-secure-617-million-for-solar-portfolio" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: esVolta Secures $450 Million Upsized Credit Facility

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2026/06/amazon_polly_96150.mp3?version=1781004333">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><a href="https://www.esvolta.com/" target="_blank" rel="noopener">esVolta</a>, a developer, owner, and operator of utility-scale battery energy storage projects, has expanded its corporate credit facility to up to $450 million to support new energy storage projects across North America.
Nomura Securities International, a global investment bank in the energy and infrastructure sectors, led the transaction, which increases esVolta’s existing $200 million facility, which closed in March 2024.
Copenhagen Infrastructure Partners, through its Green Credit Fund I and Green Credit Fund II, participated as the largest lender in the expanded facility. Other lenders include Allianz Global Investors, Celtic Bank, HSBC Asset Management, Fiera Infrastructure Private Debt, and Truist Bank.
Orrick, Herrington &amp; Sutcliffe served as legal adviser to esVolta. Norton Rose Fulbright advised the lending group.
The company said it will use the capital to support project development, long-lead equipment procurement, and pre-construction costs across its portfolio, which includes about 30 energy storage projects totaling 25 GWh. Of this, 2 GWh is operational or under construction.
“This expanded facility reflects strong confidence in esVolta’s strategy, capabilities in financing and project development, and long-term growth trajectory,” said Randolph Mann, CEO, esVolta. “This bid of support from Nomura and an exceptional group of financing partners positions us well to accelerate deployment of energy storage projects that strengthen grid reliability and meet rising electricity demand in markets across the U.S.”
The portfolio covers key energy storage markets, including the California Independent System Operator, Electric Reliability Council of Texas, and Western Electricity Coordinating Council regions.
The facility will also support esVolta’s expansion into the Southwest Power Pool and Midcontinent Independent System Operator markets, according to the company.
According to Mercom’s recently released Q1 2026 Energy Storage Funding and M&amp;A <a href="https://mercomcapital.com/product/q1-2026-funding-ma-report-energy-storage/" target="_blank" rel="noopener">report</a>, announced Energy Storage project funding increased 115% YoY in Q1 2026, compared to $8 billion raised in the same period in 2025.
In April 2026, Matrix Renewables, a renewable energy developer and independent power producer focused on solar and battery energy storage systems, <a href="https://mercomcapital.com/matrix-renewables-secures-332-million-non-recourse-project-financing/" target="_blank" rel="noopener">secured</a> £245 million (~$332 million) in non-recourse financing. The financing will support the construction of a 500 MW/1,000 MWh battery energy storage system in Eccles–Leitholm, Southern Scotland.

esVolta Secures $450 Million Upsized Credit Facility for Energy Storage Portfolio

S4 Energy, an energy storage project developer and a majority-owned subsidiary of Castleton Commodities International (CCI), has <a href="https://cms.mercomindia.com/s4-energy-to-acquire-310-mw-battery-energy-storage-portfolio-in-germany/" target="_blank" rel="noopener">agreed</a> to acquire a 310 MW portfolio of German battery energy storage projects from Terra One Climate Solutions, a Germany-based energy storage project developer. The portfolio comprises projects in shovel-ready and advanced stages of development and is expected to reach commercial operation between 2026 and 2028.
esVolta, an energy storage project developer, <a href="https://cms.mercomindia.com/esvolta-secures-110-million-financing-for-hummingbird-energy-storage-project/" target="_blank" rel="noopener">completed</a> a $110 million tax equity transaction with Greenprint Capital Management to develop and construct the 300 MWh Hummingbird battery energy storage project in San Jose, California. The project is under construction and is expected to be completed in 2025.
ACME Sun Power, a wholly owned subsidiary of ACME Solar Holdings, has <a href="https://www.mercomindia.com/acme-secures-37-billion-loan-from-rec" target="_blank" rel="noopener">secured</a> a ₹37.53 billion (~$444.68 million) loan from REC Limited to develop 320 MW Firm and Dispatchable Renewable Energy projects in collaboration with SJVN. The project is located in high-resource potential regions, with the solar capacity situated in Jaisalmer, Rajasthan, and wind power generation at Bhuj and Jam Khambhaliya in Gujarat.
Standard Solar, a developer and owner of commercial and community solar projects, <a href="https://cms.mercomindia.com/standard-solar-acquires-25-mw-solar-project-from-balanced-rock-power/" target="_blank" rel="noopener">acquired</a> 25 MWdc of the Windhub Solar B solar project in Kern County, California, from Balanced Rock Power, a renewable energy project developer. The project’s construction will begin in the first half of 2025.
Field, an energy storage project developer, <a href="https://cms.mercomindia.com/field-acquires-200-mw-800-mwh-battery-storage-project-in-the-uk/" target="_blank" rel="noopener">announced</a> the acquisition of the 200 MW/800 MWh Hartmoor battery storage project near Hartlepool, England, UK, from independent project developer Clearstone Energy. According to Field, the project is expected to be operational in 2026 and will store up to 800 MWh of clean electricity.
AXIAN Energy, a renewable energy project developer, <a href="https://cms.mercomindia.com/axian-energy-secures-90-million-financing-for-solar-plus-storage-projects/" target="_blank" rel="noopener">secured</a> €84 million (~$89.69 million) financing for two solar plants with energy storage systems in the southern Senegalese region of Kolda. A group of lenders comprising the Dutch entrepreneurial development bank FMO, the Emerging Africa &amp; Asia Infrastructure Fund (EAAIF), and Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) provided the funding.
Click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week&#8217;s project finance <a href="https://cms.mercomindia.com/project-finance-brief-edp-acquires-solar-project-brazil/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: S4 Energy to Acquire 310 MW BESS Portfolio in Germany

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/11/amazon_polly_72856.mp3?version=1732077167">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/project-finance-brief-s4-energy-bess-portfolio-germany/" target="_blank" rel="noopener">Mercom Capital Group</a>
S4 Energy, an energy storage project developer and a majority-owned subsidiary of Castleton Commodities International (CCI), has <a href="https://mercomcapital.com/s4-energy-to-acquire-310-mw-battery-energy-storage-portfolio-in-germany/" target="_blank" rel="noopener">agreed</a> to acquire a 310 MW portfolio of German battery energy storage projects from Terra One Climate Solutions, a Germany-based energy storage project developer. The portfolio comprises projects in shovel-ready and advanced stages of development and is expected to reach commercial operation between 2026 and 2028.
esVolta, an energy storage project developer, <a href="https://mercomcapital.com/esvolta-secures-110-million-financing-for-hummingbird-energy-storage-project/" target="_blank" rel="noopener">completed</a> a $110 million tax equity transaction with Greenprint Capital Management to develop and construct the 300 MWh Hummingbird battery energy storage project in San Jose, California. The project is under construction and is expected to be completed in 2025.
ACME Sun Power, a wholly owned subsidiary of ACME Solar Holdings, has <a href="https://www.mercomindia.com/acme-secures-37-billion-loan-from-rec" target="_blank" rel="noopener">secured</a> a ₹37.53 billion (~$444.68 million) loan from REC Limited to develop 320 MW Firm and Dispatchable Renewable Energy projects in collaboration with SJVN. The project is located in high-resource potential regions, with the solar capacity situated in Jaisalmer, Rajasthan, and wind power generation at Bhuj and Jam Khambhaliya in Gujarat.
Standard Solar, a developer and owner of commercial and community solar projects, <a href="https://mercomcapital.com/standard-solar-acquires-25-mw-solar-project-from-balanced-rock-power/" target="_blank" rel="noopener">acquired</a> 25 MWdc of the Windhub Solar B solar project in Kern County, California, from Balanced Rock Power, a renewable energy project developer. The project’s construction will begin in the first half of 2025.
Field, an energy storage project developer, <a href="https://mercomcapital.com/field-acquires-200-mw-800-mwh-battery-storage-project-in-the-uk/" target="_blank" rel="noopener">announced</a> the acquisition of the 200 MW/800 MWh Hartmoor battery storage project near Hartlepool, England, UK, from independent project developer Clearstone Energy. According to Field, the project is expected to be operational in 2026 and will store up to 800 MWh of clean electricity.
AXIAN Energy, a renewable energy project developer, <a href="https://mercomcapital.com/axian-energy-secures-90-million-financing-for-solar-plus-storage-projects/" target="_blank" rel="noopener">secured</a> €84 million (~$89.69 million) financing for two solar plants with energy storage systems in the southern Senegalese region of Kolda. A group of lenders comprising the Dutch entrepreneurial development bank FMO, the Emerging Africa &amp; Asia Infrastructure Fund (EAAIF), and Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) provided the funding.
Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-edp-acquires-solar-project-brazil/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.esvolta.com/" target="_blank" rel="noopener">esVolta</a>, an energy storage project developer, completed a $110 million tax equity transaction with Greenprint Capital Management to develop and construct the 300 MWh Hummingbird battery energy storage project in San Jose, California.
The project is currently under construction and is expected to be completed in 2025. The project will provide Pacific Gas &amp; Electric with resource adequacy capacity under a long-term contract and offer fast-responding energy and ancillary services to the CAISO market.
Orrick, Herrington &amp; Sutcliffe, and DCH Law advised esVolta, while Leverage Law Group advised Greenprint on the transaction.
&#8220;This tax equity transaction represents an outstanding milestone achievement for esVolta. We appreciate the support of Greenprint in helping us accelerate the transition to a decarbonized and reliable U.S. electric power grid&#8221;, said Randolph Mann, CEO and Founder of esVolta.
&#8220;Greenprint is pleased to execute this important financing with esVolta,&#8221; said Peter DeFazio, Managing Director of Greenprint. &#8220;We are committed to leveraging our expertise in tax equity financing to support leading sponsors like esVolta as we strive for a clean energy future together.&#8221;
Earlier this year, esVolta <a href="https://cms.mercomindia.com/esvolta-secures-185-million-senior-secured-credit-facility/" target="_blank" rel="noopener">closed</a> a $185 million senior secured credit facility that provides additional development capital to secure obligations principally relating to interconnection, power purchase agreements (PPA), equipment deposits, and early pre-NTP construction funding for its 20+ GWh pipeline of energy storage projects across the U.S.
According to Mercom&#8217;s 9M and Q3 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-and-q3-2024-funding-and-ma-report-for-storage-and-grid/" target="_blank" rel="noopener">report</a> for Energy Storage and Smart Grid, energy storage project funding in 9M 2024 saw a record $10.1 billion raised in 35 deals compared to $6.8 billion in 26 deals in 9M 2023.
Last week, Eku Energy, an energy storage project developer, announced that it reached financial <a href="https://cms.mercomindia.com/eku-energy-secures-financing-for-250-mw-williamsdale-energy-storage-project/" target="_blank" rel="noopener">closure</a> for its 250 MW/500 MWh Williamsdale battery energy storage system located in the Australian Capital Territory.

esVolta Secures $110 Million Financing for Hummingbird Energy Storage Project

Nexamp, a developer of solar and storage projects, <a href="https://cms.mercomindia.com/solar-and-storage-developer-nexamp-secures-520-million/" target="_blank" rel="noopener">secured</a> $520 million in a funding round led by Manulife Investment Management, alongside existing investors Diamond Generating Corporation and Generate Capital. The company said this investment would enable them to expand and expedite their existing renewable project pipeline across the country. Additionally, it will help develop partnerships in both new and existing markets, as well as consumer-driven offerings.
esVolta, a large-scale energy storage project developer, has <a href="https://cms.mercomindia.com/esvolta-secures-185-million-senior-secured-credit-facility/" target="_blank" rel="noopener">closed</a> a $185 million senior secured credit facility. The credit facility will provide additional development capital to secure obligations principally relating to interconnection, power purchase agreements (PPA), equipment deposits, and early pre-NTP construction funding for its 20+ GWh pipeline energy storage projects across the U.S.
GridBeyond, an intelligent energy and smart grid platform for distributed energy resource management, has <a href="https://cms.mercomindia.com/gridbeyond-raises-series-c-funding/" target="_blank" rel="noopener">closed</a> €52 million (~$55 million) in Series C funding led by Alantra’s Energy Transition Fund, Klima. The round also included new investors, including Energy Impact Partners, Mirova, ABB, Constellation, Yokogawa Electric Corporation, and existing investor Act Venture Capital. The funding will be used to further improve GridBeyond’s technology and boost its expansion efforts.
Arcadia, a utility data and community solar company, <a href="https://cms.mercomindia.com/arcadia-secures-50-million-financing/" target="_blank" rel="noopener">secured</a> $50 million in financing to support the growth of its community solar program. The funding will also support the company’s product innovation, leveraging AI to unlock new applications based on its energy data. The round includes a fund managed by Macquarie Asset Management as a new equity investor alongside existing investors.
Husk Power Systems, a decentralized solar-hybrid mini-grids provider, has <a href="https://www.mercomindia.com/husk-electrifi-mini-grids-india" target="_blank" rel="noopener">secured</a> a $4 million investment in debt financing from Electrifi. This impact investment facility will enable the company to accelerate its efforts to provide clean energy access in rural India. The latest funding adds to ElectriFi’s $6 million investment in September 2022, which allowed Husk to implement solar microgrids that electrified 80 communities.
AutoNxt Automation, a Maharashtra-based e-mobility tech startup, has <a href="https://www.mercomindia.com/autonxt-pre-series-a-funding" target="_blank" rel="noopener">raised</a> funds in a Pre-Series A funding round to finance the launch of its first electric tractor with self-driving options. The funding round was led by Saama, an India-based early-stage venture capital firm. Amit Singhal, former Head of Google’s search division, Suveer Sinha, India Head for KKR Capstone, Bluehill Capital, Keiretsu Forum, Soonicorn Ventures, and other marquee investors also participated in the funding round. The companies did not disclose the amount raised.
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-torus-raises-advance-energy-storage-solutions/" target="_blank" rel="noopener">roundup</a>

Funding and M&A Roundup: Nexamp Secures $520 Million

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/04/amazon_polly_65319.mp3?version=1713328317">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-nexamp-secures-520-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Nexamp, a developer of solar and storage projects, <a href="https://mercomcapital.com/solar-and-storage-developer-nexamp-secures-520-million/" target="_blank" rel="noopener">secured</a> $520 million in a funding round led by Manulife Investment Management, alongside existing investors Diamond Generating Corporation and Generate Capital. The company said this investment would enable them to expand and expedite their existing renewable project pipeline across the country. Additionally, it will help develop partnerships in both new and existing markets, as well as consumer-driven offerings.
esVolta, a large-scale energy storage project developer, has <a href="https://mercomcapital.com/esvolta-secures-185-million-senior-secured-credit-facility/" target="_blank" rel="noopener">closed</a> a $185 million senior secured credit facility. The credit facility will provide additional development capital to secure obligations principally relating to interconnection, power purchase agreements (PPA), equipment deposits, and early pre-NTP construction funding for its 20+ GWh pipeline energy storage projects across the U.S.
GridBeyond, an intelligent energy and smart grid platform for distributed energy resource management, has <a href="https://mercomcapital.com/gridbeyond-raises-series-c-funding/" target="_blank" rel="noopener">closed</a> €52 million (~$55 million) in Series C funding led by Alantra’s Energy Transition Fund, Klima. The round also included new investors, including Energy Impact Partners, Mirova, ABB, Constellation, Yokogawa Electric Corporation, and existing investor Act Venture Capital. The funding will be used to further improve GridBeyond’s technology and boost its expansion efforts.
Arcadia, a utility data and community solar company, <a href="https://mercomcapital.com/arcadia-secures-50-million-financing/" target="_blank" rel="noopener">secured</a> $50 million in financing to support the growth of its community solar program. The funding will also support the company’s product innovation, leveraging AI to unlock new applications based on its energy data. The round includes a fund managed by Macquarie Asset Management as a new equity investor alongside existing investors.
Husk Power Systems, a decentralized solar-hybrid mini-grids provider, has <a href="https://www.mercomindia.com/husk-electrifi-mini-grids-india" target="_blank" rel="noopener">secured</a> a $4 million investment in debt financing from Electrifi. This impact investment facility will enable the company to accelerate its efforts to provide clean energy access in rural India. The latest funding adds to ElectriFi’s $6 million investment in September 2022, which allowed Husk to implement solar microgrids that electrified 80 communities.
AutoNxt Automation, a Maharashtra-based e-mobility tech startup, has <a href="https://www.mercomindia.com/autonxt-pre-series-a-funding" target="_blank" rel="noopener">raised</a> funds in a Pre-Series A funding round to finance the launch of its first electric tractor with self-driving options. The funding round was led by Saama, an India-based early-stage venture capital firm. Amit Singhal, former Head of Google’s search division, Suveer Sinha, India Head for KKR Capstone, Bluehill Capital, Keiretsu Forum, Soonicorn Ventures, and other marquee investors also participated in the funding round. The companies did not disclose the amount raised.
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&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-torus-raises-67-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.esvolta.com/" target="_blank" rel="noopener">esVolta</a>, a large-scale energy storage project developer, has closed a $185 million senior secured credit facility.
The credit facility will provide additional development capital to secure obligations principally relating to interconnection, power purchase agreements (PPA), equipment deposits, and early pre-NTP construction funding for its 20+ GWh pipeline energy storage projects across the U.S. This funding will enable esVolta to increase its ability to provide a green the electric grid while meeting the reliability needs of energy customers in communities across its portfolio.
Nomura Securities International acted as the Sole Lead Arranger and Bookrunner, and Nomura Corporate Funding Americas, LLC acted as the Administrative Agent. Copenhagen Infrastructure Partners, through its Green Credit Fund I and Voya, participated in the financing. esVolta was represented in the transaction by Orrick, Herrington &amp; Sutcliffe, LLP, and Nomura was represented by Norton Rose Fulbright U.S. LLP.
&#8220;Closing this financing represents an important strategic milestone for esVolta, as the facility will provide an efficient source of financing for our next wave of storage projects that are designed to help drive decarbonization of the U.S. electric power grid,&#8221; said Randolph Mann, CEO and Founder of esVolta.
&#8220;We are delighted to have led this strategic pre-NTP financing for esVolta as they are one of the first movers in the U.S. battery storage space,&#8221; said Alain Halimi, Managing Director, Nomura&#8217;s IPB. &#8220;This financing will support esVolta&#8217;s growth and continued ambition to deliver critical grid stabilization solutions.&#8221;
According to Mercom’s  Annual and Q4 2023 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report</a> for Storage &amp; Smart Grid, announced debt and public market financing for Energy Storage companies in 2023 decreased 52% YoY with $9.8 billion in 34 deals compared to $20.6 billion in 28 deals in 2022, the year of LG Energy Solution’s $10.7 billion IPO.
Last month, Invenergy, a developer of renewable energy projects, <a href="https://cms.mercomindia.com/invenergy-secured-additional-900-million-from-natixis-cib/" target="_blank" rel="noopener">secured</a> a $900 million Green Letter of Credit facility to support Invenergy Renewables Finance North America. The funding will support Invenergy’s growing project development pipeline of large-scale renewable and other clean energy generation and storage facilities in the Americas.

esvolta

Get the most relevant India solar and clean energy news.

RECENT POSTS