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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-aspen-power-secures-200-million-enhance-pipeline/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Aspen Power, a distributed energy generation platform, </strong><a href="https://mercomcapital.com/aspen-power-secures-200-million-from-deutsche-bank/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the closing of a $200 million capital raise</strong> <strong>provided by Deutsche Bank.</strong> Aspen is said to partner with businesses, communities, and other industry participants to develop, construct, own, and operate renewable energy assets. According to the company, this financial commitment enhances its ability to execute its pipeline, attract greater vendor engagement, and accelerate project delivery.</p>
<p><strong>Inox Clean Energy, the renewable arm of the INOXGFL Group, along with its subsidiary, Inox Solar, </strong><a href="https://www.mercomindia.com/inox-clean-secures-%E2%82%B931-billion-equity-to-scale-ipp-and-solar-manufacturing" target="_blank" rel="noopener"><strong>raised</strong></a><strong> equity totaling ₹31 billion (~$342.83 million)</strong>, valuing the company at ₹500 billion (~$5.54 billion) on a pre-money basis. The equity round attracted participation from foreign and domestic investors, including the California Public Employees’ Retirement System, a U.S. pension fund; SUN Group Global; Authum Investment; Akash Bhansali; other family investors; and high-net-worth individuals.</p>
<p><strong>KOREALFP, a manufacturer of lithium iron phosphate battery cells and modules for e-mobility, energy storage, and industrial power applications, </strong><a href="https://mercomcapital.com/korealfp-secures-3-million-in-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> 4.35 billion KRW (~$3 million) </strong>in funding from Korinvest Group, a U.S. investment firm focused on backing Korean startups and venture companies. This follows an investment of approximately $200,000 that the company received in October last year. KOREALFP secured this investment in connection with CES 2026, where it showcased its battery safety technologies.</p>
<p><strong>Electric vehicle charging infrastructure company ROADGRID </strong><a href="https://www.mercomindia.com/ev-charging-firm-roadgrid-raises-%E2%82%B9120-million-in-pre-series-a-round" target="_blank" rel="noopener"><strong>raised</strong></a><strong> ₹120 million (~$1.44 million) in a Pre-Series A funding round</strong> <strong>led by Venture Catalysts. </strong>The round also saw participation from a mix of strategic and angel investors, including the Skyline Group of Companies, IPV, FAAD Network, Let’s Venture, Pace Group, Arthanomics, and Alpha Value. ROADGRID has raised a total of $1.33 million in funding, including the latest Pre-Series A round.</p>
<p><strong>Otovo, a home energy service provider, entered into a definitive agreement to </strong><a href="https://mercomcapital.com/otovo-acquires-solar-service-professionals/" target="_blank" rel="noopener"><strong>acquire</strong></a><strong> Solar Service Professionals (SSP)</strong>, a California-based solar service provider. SSP provides solar service business with an installed customer base of 38,000 customers since 2017. The acquisition of SSP marks Otovo’s strategic entry into California’s residential solar plus storage market. The company plans to convert the existing California base of SSP customers to its subscription service, expecting this initiative to be accretive to net income in 2026.</p>
<p><strong>Pattern Energy, a company that develops and operates clean energy and transmission infrastructure, entered into a definitive agreement to </strong><a href="https://mercomcapital.com/pattern-energy-to-acquire-clean-energy-company-cordelio-power/" target="_blank" rel="noopener"><strong>acquire</strong></a><strong> Cordelio Power</strong>, an independent power producer in Canada and the U.S. According to Pattern Energy, the acquisition will help it grow its energy portfolio in the U.S. and Canada. Cordelio Power is wholly owned by CPP Investments, the majority shareholder of Pattern Energy.</p>
<p>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>.</p>
<p>Read last week&#8217;s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-okovate-acquires-assets-of-fundusol/" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Aspen Power Secures $200 Million


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					</table><p><a href="https://inoxclean.com/" target="_blank" rel="noopener">Inox Clean Energy</a>, the renewable arm of the <a href="https://www.inoxgfl.com/" target="_blank" rel="noopener">INOXGFL Group</a>, along with its subsidiary, Inox Solar, has raised equity totaling ₹31 billion (~$342.83 million), valuing the company at ₹500 billion (~$5.54 billion) pre-money.</p>
<p>The equity round attracted participation from foreign and domestic investors, including the California Public Employees’ Retirement System (CalPERS), a U.S. pension fund, SUN Group Global, Authum Investment, Akash Bhansali, other family investors and high net-worth individuals.</p>
<p>The company said it will use the proceeds to expand capacity across its renewable independent power production (IPP) and solar manufacturing verticals.</p>
<p>Inox Clean Energy had recently <a href="https://www.mercomindia.com/inox-clean-to-acquire-macquarie-owned-vibrant-energy" target="_blank" rel="noopener">acquired</a> the Indian renewable IPP portfolios of Vibrant Energy, a Macquarie-owned IPP platform.</p>
<p>It is also in advanced stages of acquisition of a multi-gigawatt IPP portfolio and an integrated solar manufacturing facility based outside India.</p>
<p>Inox aims to install 10 GW of IPP capacity and 11 GW of integrated solar module manufacturing capacity by the financial year 2028, with expected consolidated annual revenues of ~₹300 billion (~$3.33 billion).</p>
<p>Commenting on the development, Devansh Jain, Executive Director at INOXGFL, said,  Inox Clean has large-scale, diversified growth opportunities over the next decade, backed by a business model that minimizes balance-sheet and execution risks, maximizes returns, and optimizes the utilization of excess cash to further growth.</p>
<p>Inox Clean operates across the renewable IPP business (under its subsidiary, Inox Neo) and the solar manufacturing business (under its subsidiary, Inox Solar).</p>
<p>Recently, <strong> </strong>Inox Neo Energies <a href="https://www.mercomindia.com/inox-neo-energies-acquires-sunsources-300-mw-solar-projects" target="_blank" rel="noopener">acquired</a> around 300 MW of operational solar projects from SunSource Energy. The company is also in the process of acquiring an estimated 50 MW of solar projects pending approvals from SunSource Energy. The projects are located across 13 states, including Uttar Pradesh, Karnataka, Tamil Nadu, and Maharashtra.</p>
<p>In September 2025, Inox Neo Energies <a href="https://www.mercomindia.com/inox-neo-energies-to-acquire-640-mw-renewable-hybrid-portfolio-from-evergreen" target="_blank" rel="noopener">executed</a> definitive agreements with Evergreen Power Mauritius and Evergreen Renewables to acquire their 640 MW wind-solar hybrid projects.</p>


Inox Clean Secures ₹31 Billion Equity to Scale IPP and Solar Manufacturing

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