Funding and M&A Roundup: Enel Secures €600 Million from EIB for Clean Energy Expansion

Energy storage provider Fluence to acquire software firm Nispera

April 18, 2022


From: Mercom Capital Group

Enel, an Italian multinational manufacturer and distributor of electricity and gas, and the European Investment Bank (EIB), through its development branch EIB Global and SACE, an Italian export credit agency, agreed on a multi-country, multi-business, and multi-currency facility of up to €600 million (~$652 million) to support sustainable energy investments in Latin America. Projects financed with this facility are expected to generate around 2,307 GWh of clean energy each year, equivalent to the annual consumption of 1.32 million households.

e-Zinc, an electrochemical technology developer of energy storage solutions, raised $25 million in Series A financing. The financing round was led by Anzu Partners, with additional funding from BDC Capital, Toyota Ventures, and Eni Next. Existing investors, including Seed Round lead investor Energy Foundry, also participated. The investment will be used to commence its first pilot production of commercial energy storage systems for field deployment. e-Zinc’s Series A investors include leading firms that will serve as valuable partners and advisors to drive growth for the company. Toyota Ventures will provide guidance to help e-Zinc scale its manufacturing and supply chain efforts.

Bridgelink Power, a developer, constructor, and operator of utility-scale solar and energy storage projects has closed a senior secured revolving credit facility for up to $200 million with Crayhill Capital Management. The facility will finance late-stage, utility-scale solar projects under development by Bridgelink Power. Bridgelink Power has over 10 GW of solar, storage, and solar-plus-storage projects under development across the Electric Reliability Council of Texas (ERCOT), PJM Interconnection (PJM), and Midcontinent Independent System Operator (MISO) and includes over 1,000 MWh of standalone battery storage projects.

Raptor Maps, a solar lifecycle management software provider, closed $22 million in Series B funding to boost its Raptor Solar software platform. The round was led by Canadian private investment firm MacKinnon, Bennett & Co.  Other investors include the Microsoft Climate Innovation Fund, Blue Bear Capital, DNV, Buoyant Ventures, Congruent Ventures, Data Point Capital, and ENGIE New Ventures. The company intends to rapidly advance its product roadmap with more functionality related to workflow automation, work orders, investor reporting, and insights powered by machine learning.

Fluence, a provider of energy storage products and services and digital applications for renewables and storage, has agreed to acquire Nispera, a Zurich-based company providing data intelligence services for renewable energy projects. The company uses its technology to develop an AI-driven utility-scale asset performance management platform that currently has 8 GW of assets under management across 450 wind and solar projects globally.

Israel-based solar energy company Volta Solar, specializing in developing, constructing, and operating solar energy systems on the roofs, raised NIS 40 million (~$12.49 million) funding round led by More Investment House. Over the past few years, Volta Solar has installed thousands of residential solar energy systems, and its market share is currently estimated at 35% of the Israeli solar rooftops for the private homes sector.

Renewables developer Engie North America has bolstered its pipeline of solar and storage projects in the U.S. by acquiring French developer Photosol’s U.S. operations. As part of the transaction, Engie will acquire 17 solar and energy storage projects in early-stage development, spread across ten different U.S. states and located in multiple regional grids such as ERCOT (Texas) and Southwest Power Pool (SPP), Western Interconnection (WECC) or SERC. The team from the U.S. branch of Photosol will be integrated into Engie North America.

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

Read last week’s funding roundup.


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