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<a href="https://www.rabobank.com/en/home/index.html" target="_blank" rel="noopener">Rabobank</a>, with its division <a href="https://raboinvestments.com/" target="_blank" rel="noopener">Rabo Investments</a>, announced that it has acquired a minority interest in <a href="https://giga-storage.com/en/" target="_blank" rel="noopener">GIGA Storage</a>, intending to help the company expand its large-scale energy storage network.
GIGA Storage is a Netherlands-headquartered developer, investor, and operator of large-scale energy storage projects, with a project pipeline of 420 MWh in the Netherlands and Belgium.
The company has operational projects in Lelystad that have a combined capacity of 57 MWh.
The investment amount was not disclosed by the parties.
According to Francis Quint, Global Head of Rabo Investment, the investment will enable GIGA Storage to further expand its network of large-scale energy storage and grow its self-developed IT platform to facilitate the further integration of renewable energy into the Benelux electricity grid.
Ruud Nijs, CEO of GIGA Storage, said, “With Rabobank, we welcome the first formal investor to our shareholders’ table. Until now, we have financed ourselves with various informal investors – all of whom have also additionally contributed to the value of the company – but also with various crowdfunding initiatives.”
Last Month, Rabobank <a href="https://cms.mercomindia.com/primergy-secures-75-million-from-rabobank-for-solar-and-storage-projects/" target="_blank" rel="noopener">provided</a> a revolving credit facility of $75 million to Primergy Solar, a U.S.-based utility-scale and distributed solar and storage company to help develop a pipeline of solar and storage projects.
According to Mercom’s 9M And Q3 2022 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2022-funding-ma-report-for-storage-grid-efficiency/" target="_blank" rel="noopener">Report</a> for Storage, Grid &amp; Efficiency, in 9M 2022, Energy Storage companies raised a record $22 billion in corporate funding in 92 deals, up 69% compared to the $13 billion raised in 74 deals in 9M 2021.
Recently, Neoen, an independent renewable energy producer, announced the financial close of its Capital Battery project, a 100 MW/200 MWh lithium-ion battery storage facility located next to the Queanbeyan substation near Canberra, Australia. The battery project will be financed by a combination of equity provided by Neoen and senior debt facilities provided by the Clean Energy Finance Corporation and Infradebt.

Rabobank Invests in Large Scale Energy Storage Developer GIGA Storage

Rabo Investments has <a href="https://giga-storage.com/en/news/rabo-investments-acquires-a-participation-in-giga-storage/" target="_blank" rel="noopener">infused</a> an undisclosed amount in GIGA Storage, a large-scale battery energy storage project developer. The investment will enable GIGA Storage to expand its network of large-scale energy storage. GIGA Storage has 420 MWh of projects in the pipeline.
India-based automobile conglomerate and the parent company of Royal Enfield, Eicher Motors, said it would <a href="https://mercomindia.com/eicher-motors-to-acquire-in-e-motorcycle-firm-for-million/" target="_blank" rel="noopener">acquire</a> a 10.35% stake in European electric motorcycle manufacturer Stark Future with an initial equity investment of €50 million (~$53.2 million). Both Royal Enfield and Stark Future will use the investment for the electrification of motorcycles. The investment will help Enfield enter the electric mobility segment.
GCL Optoelectronic Material, a subsidiary of Hong Kong-listed GCL Technology Holdings, one of China’s largest photovoltaic materials makers, has <a href="https://www.dealstreetasia.com/stories/gcl-optoelectronic-material-series-b-321514" target="_blank" rel="noopener">secured</a> 500 million yuan (~$72 million) in a Series B extension round led by Temasek Holdings, Sequoia Capital China, and IDG Capital. The company will use the proceeds to upgrade the craftsmanship and equipment of its 100 MW large–area perovskite solar module assembly lines.
Suryanesia a clean energy startup that provides a SaaS platform for commercial and industrial clients to access renewable energy <a href="https://www.finsmes.com/2022/12/suryanesia-raises-us2m-in-seed-funding.html" target="_blank" rel="noopener">raised</a> $2 million in seed funding. The round was led by Intudo Ventures with participation from several angel investors. The company intends to use the funds to grow its team to accelerate marketing efforts and project delivery. With its Solar-as-a-Service solution, the company finances, installs, operates, and maintains solar power systems on its clients’ rooftops, and the clean energy generated helps clients save on electricity bills and reduce their carbon footprint.
Samara, a provider of solar energy-based solutions, <a href="https://www.eu-startups.com/2022/12/madrid-based-samara-scores-e4-5-million-to-help-households-transition-to-solar-energy/" target="_blank" rel="noopener">raised</a> €4.5 million (~$4.7 million) in seed funding led by Seaya and included participation from Pelion Green Future bringing the total funding raised by the company to €6.5 million (~$6.9 million). The funding will help in the company’s expansion efforts.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency 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-and-ma-roundup-eqt-acquires-renewable-developer-madison-energy/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Rabobank Invests in Battery Energy Storage Project Developer

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-rabobank-invests-in-battery-energy-storage-project-developer/" target="_blank" rel="noopener">Mercom Capital Group</a>
Rabo Investments has <a href="https://giga-storage.com/en/news/rabo-investments-acquires-a-participation-in-giga-storage/" target="_blank" rel="noopener">infused</a> an undisclosed amount in GIGA Storage, a large-scale battery energy storage project developer. The investment will enable GIGA Storage to expand its network of large-scale energy storage. GIGA Storage has 420 MWh of projects in the pipeline.
India-based automobile conglomerate and the parent company of Royal Enfield, Eicher Motors, said it would <a href="https://mercomindia.com/eicher-motors-to-acquire-in-e-motorcycle-firm-for-million/" target="_blank" rel="noopener">acquire</a> a 10.35% stake in European electric motorcycle manufacturer Stark Future with an initial equity investment of €50 million (~$53.2 million). Both Royal Enfield and Stark Future will use the investment for the electrification of motorcycles. The investment will help Enfield enter the electric mobility segment.
GCL Optoelectronic Material, a subsidiary of Hong Kong-listed GCL Technology Holdings, one of China’s largest photovoltaic materials makers, has <a href="https://www.dealstreetasia.com/stories/gcl-optoelectronic-material-series-b-321514" target="_blank" rel="noopener">secured</a> 500 million yuan (~$72 million) in a Series B extension round led by Temasek Holdings, Sequoia Capital China, and IDG Capital. The company will use the proceeds to upgrade the craftsmanship and equipment of its 100 MW large–area perovskite solar module assembly lines.
Suryanesia a clean energy startup that provides a SaaS platform for commercial and industrial clients to access renewable energy <a href="https://www.finsmes.com/2022/12/suryanesia-raises-us2m-in-seed-funding.html" target="_blank" rel="noopener">raised</a> $2 million in seed funding. The round was led by Intudo Ventures with participation from several angel investors. The company intends to use the funds to grow its team to accelerate marketing efforts and project delivery. With its Solar-as-a-Service solution, the company finances, installs, operates, and maintains solar power systems on its clients’ rooftops, and the clean energy generated helps clients save on electricity bills and reduce their carbon footprint.
Samara, a provider of solar energy-based solutions, <a href="https://www.eu-startups.com/2022/12/madrid-based-samara-scores-e4-5-million-to-help-households-transition-to-solar-energy/" target="_blank" rel="noopener">raised</a> €4.5 million (~$4.7 million) in seed funding led by Seaya and included participation from Pelion Green Future bringing the total funding raised by the company to €6.5 million (~$6.9 million). The funding will help in the company’s expansion efforts.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week’s funding <a href="https://mercomindia.com/funding-and-ma-roundup-eqt-acquires-renewable-developer-madison-energy/" target="_blank" rel="noopener">roundup</a>.

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