From: Mercom Capital Group

BlueWave, a solar and storage developer, owner, operator, and a subsidiary of Axium Infrastructure, an independent portfolio management firm, has secured $247 million from two credit facilities. The first $125 million revolving construction-to-term loan facility was led by KeyBank and the National Bank of Canada, which is said to provide construction debt. The remaining $122 million corporate revolving credit facility was provided by KeyBank and the Canadian Imperial Bank of Commerce, the New York branch.

Greenvolt Group, a developer of clean energy projects, announced a €150 million (~$173 million) share capital increase, fully subscribed by its shareholder KKR. The share capital increase will be implemented in two phases. The first phase of this capital increase, totaling €100 million (~$115 million), is expected to be completed soon. The second phase, corresponding to the remaining €50 million (~$58 million) already approved, is expected to be completed by September 30, 2025.

Planted Solar, a company that provides solar energy project deployment platforms, has secured a $12 million funding round led by Piva Capital, with participation from existing investors Breakthrough Energy Ventures, Khosla Ventures, and Team Builder Ventures. With this funding, the company plans to accelerate the development of its digital and hardware solutions, expand deployment capacity, and strengthen its partnerships globally.

Sun King, a company focusing on off-grid solar solutions, has closed $156 million (KES20.1 billion) securitization. Arranged and structured by Citi with Stanbic Bank Kenya acting as the placement agent, the securitization is backed by five international and local commercial banks and three development finance institutions. It builds on the company’s $130 million securitization completed in 2023. The securitization enables Sun King to raise long-term local currency debt by converting future customer repayments for financed solar products into investable assets.

For reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors, click here.

Read last week’s funding roundup.