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Solar Module Capacity Under ALMM Grows to 215.5 GW

EQT, a private equity firm, announced that EQT Transition Infrastructure has <a href="https://cms.mercomindia.com/eqt-to-acquire-distributed-energy-company-scale-microgrids/" target="_blank" rel="noopener">agreed</a> to acquire Scale Microgrids. The transaction is subject to customary conditions and approvals. Scale Microgrids is a vertically integrated energy company that designs, builds, finances, owns, and operates microgrids and distributed energy assets in North America.
Solar module manufacturer Waaree Energies has entered into a share purchase agreement with Enel Green Power Development to <a href="https://www.mercomindia.com/waaree-energies-acquires-enel-india" target="_blank" rel="noopener">acquire</a> 100% of the share capital of Enel Green Power India for ₹7.92 billion (~$91.73 million). Enel Green Power India owns a solar and wind projects portfolio totalling 640 MWac (760 MWdc), including operational and projects under development in the country.
Electric tractor technology company Moonrider has <a href="https://www.mercomindia.com/e-tractor-company-moonrider-secures-2-2-million-in-seed-funding" target="_blank" rel="noopener">raised</a> $2.2 million (~₹182.6 million) in a seed funding round co-led by AdvantEdge Founders and Micelio Technology Fund. A group of angel investors also participated in the funding round. The company plans to use the funds to enhance its innovation capabilities in vehicle engineering, software development, and battery technology. The company has filed a patent for its in-house battery technology, which it considers a key feature of its electric tractors.
LS Power, a developer, owner, operator, and investor in power generation and electric transmission infrastructure, <a href="https://cms.mercomindia.com/ls-power-acquires-algonquin-powers-renewable-energy-business/" target="_blank" rel="noopener">announced</a> the acquisition of Algonquin Power &amp; Utilities renewable energy business. With this acquisition, LS Power will expand its renewable energy portfolio, adding more than 23 GW of renewable energy storage, flexible gas, and renewable fuels generation capacity, as well as a pipeline of projects in various stages of development.
Gridware, a power grid monitoring solution provider, <a href="https://www.gridware.io/post/release-gridware-powers-forward-with-26-4-million-series-a-round-led-by-sequoia-capital" target="_blank" rel="noopener">raised</a> $26.4 million in Series A funding. Sequoia Capital led the investment, alongside existing backers such as Fifty Years, Lowercarbon, True Ventures, and Convective Capital. This funding is expected to accelerate Gridware’s grid monitoring solutions. The company completed an initial pilot with PG&amp;E last year, the utility is stated to have since expanded to a large-scale deployment covering more than 1,000 miles of power lines and 10,000 poles.
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-greg-skinner-acquires-50-stake-in-ethical-power-group/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: EQT to Acquire Scale Microgrids

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-eqt-to-acquire-scale-microgrids/" target="_blank" rel="noopener">Mercom Capital Group</a>
EQT, a private equity firm, announced that EQT Transition Infrastructure has <a href="https://mercomcapital.com/eqt-to-acquire-distributed-energy-company-scale-microgrids/" target="_blank" rel="noopener">agreed</a> to acquire Scale Microgrids. The transaction is subject to customary conditions and approvals. Scale Microgrids is a vertically integrated energy company that designs, builds, finances, owns, and operates microgrids and distributed energy assets in North America.
Solar module manufacturer Waaree Energies has entered into a share purchase agreement with Enel Green Power Development to <a href="https://www.mercomindia.com/waaree-energies-acquires-enel-india" target="_blank" rel="noopener">acquire</a> 100% of the share capital of Enel Green Power India for ₹7.92 billion (~$91.73 million). Enel Green Power India owns a solar and wind projects portfolio totaling 640 MWac (760 MWdc), including operational and projects under development in the country.
Electric tractor technology company Moonrider has <a href="https://www.mercomindia.com/e-tractor-company-moonrider-secures-2-2-million-in-seed-funding" target="_blank" rel="noopener">raised</a> $2.2 million (~₹182.6 million) in a seed funding round co-led by AdvantEdge Founders and Micelio Technology Fund. A group of angel investors also participated in the funding round. The company plans to use the funds to enhance its innovation capabilities in vehicle engineering, software development, and battery technology. The company has filed a patent for its in-house battery technology, which it considers a key feature of its electric tractors.
LS Power, a developer, owner, operator, and investor in power generation and electric transmission infrastructure, <a href="https://mercomcapital.com/ls-power-acquires-algonquin-powers-renewable-energy-business/" target="_blank" rel="noopener">announced</a> the acquisition of Algonquin Power &amp; Utilities renewable energy business. With this acquisition, LS Power will expand its renewable energy portfolio, adding more than 23 GW of renewable energy storage, flexible gas, and renewable fuels generation capacity, as well as a pipeline of projects in various stages of development.
Gridware, a power grid monitoring solution provider, <a href="https://www.gridware.io/post/release-gridware-powers-forward-with-26-4-million-series-a-round-led-by-sequoia-capital" target="_blank" rel="noopener">raised</a> $26.4 million in Series A funding. Sequoia Capital led the investment, alongside existing backers such as Fifty Years, Lowercarbon, True Ventures, and Convective Capital. This funding is expected to accelerate Gridware’s grid monitoring solutions. The company completed an initial pilot with PG&amp;E last year, the utility is stated to have since expanded to a large-scale deployment covering more than 1,000 miles of power lines and 10,000 poles.
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/">here</a>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-greg-skinner-acquires-ethical-power-group" target="_blank" rel="noopener">roundup</a>.

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