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Liontown Resources, a battery minerals producer, <a href="https://cms.mercomindia.com/liontown-resources-secures-250-million-lg-energy-solution/" target="_blank" rel="noopener">secured</a> a $250 million investment and a 10-year offtake extension from foundational partner LG Energy Solution, a manufacturer of lithium-ion batteries. The companies have executed agreements for five-year $250 million convertible notes, a 10-year offtake extension, and a downstream collaboration agreement to investigate the feasibility of establishing an Inflation Reduction Act (IRA)-compliant conversion plant to process LG Energy Solution offtake material and potential additional tons from any future 4 Mtpa expansion.
Altarea, a French-based real estate company, has <a href="https://cms.mercomindia.com/altarea-acquires-rooftop-solar-developer-prejeance-industrial/" target="_blank" rel="noopener">acquired</a> Prejeance Industrial, a rooftop solar development company, from the Spanish group Repsol. This acquisition will help expand the photovoltaic installation development platform in France that the Group implemented in 2023 as part of the new activities segment of its strategic roadmap. The investment amount is approximately €140 (~$151) million. The company specializes in the development of small to medium-sized rooftop photovoltaic projects (between 100 and 500 kW), mainly on agricultural sheds.
ACME Solar, an India-based renewable energy developer, has <a href="https://www.mercomindia.com/acme-solar-files-%e2%82%b930-billion-ipo" target="_blank" rel="noopener">filed</a> its draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering (IPO) worth ₹30 billion (~$360 million) at ₹2 (~$0.024) per share. The proposed IPO consists of a fresh issue of shares up to ₹20 billion (~$240 million) and an offer for sale of up to ₹10 billion (~$ 12 million). The company may also consider a pre-IPO placement of up to ₹4 billion (~$48 million), which would reduce the size of the fresh issue. ACME Solar plans to use ₹15 billion (~$180 million) from the net proceeds to repay or prepay certain outstanding borrowings of its subsidiaries.
Eneida, a provider of smart grid analytics solutions, <a href="https://cms.mercomindia.com/eneida-secures-11-4-million-in-series-b-funding/" target="_blank" rel="noopener">secured</a> €10.5 million (~$11.4 million) in a Series B funding round. The funding will allow Eneida to extend R&amp;D activity to further develop its technology for grid operators and the new energy players and continue to scale its business and its operational analytics platform. The company attracted two new prominent investors: Junction Growth Investors, who led the round, and Santander Alternative Investments. Additionally, Korys, a long-standing Eneida investor, increased its stake, alongside participation from current investor HCapital, and the company’s Founders.
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-battery-materials-company-sila-raises-375-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Liontown Resources Secures $250 Million

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-liontown-resources-secures-250-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Liontown Resources, a battery minerals producer, <a href="https://mercomcapital.com/liontown-resources-secures-250-million-lg-energy-solution/" target="_blank" rel="noopener">secured</a> a $250 million investment and a 10-year offtake extension from foundational partner LG Energy Solution, a manufacturer of lithium-ion batteries. The companies have executed agreements for five-year $250 million convertible notes, a 10-year offtake extension, and a downstream collaboration agreement to investigate the feasibility of establishing an Inflation Reduction Act (IRA)-compliant conversion plant to process LG Energy Solution offtake material and potential additional tons from any future 4 Mtpa expansion.
Altarea, a French-based real estate company, has <a href="https://mercomcapital.com/altarea-acquires-rooftop-solar-developer-prejeance-industrial/" target="_blank" rel="noopener">acquired</a> Prejeance Industrial, a rooftop solar development company, from the Spanish group Repsol. This acquisition will help expand the photovoltaic installation development platform in France that the Group implemented in 2023 as part of the new activities segment of its strategic roadmap. The investment amount is approximately €140 (~$151) million. The company specializes in the development of small to medium-sized rooftop photovoltaic projects (between 100 and 500 kW), mainly on agricultural sheds.
ACME Solar, an India-based renewable energy developer, has <a href="https://www.mercomindia.com/acme-solar-files-%e2%82%b930-billion-ipo" target="_blank" rel="noopener">filed</a> its draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering (IPO) worth ₹30 billion (~$360 million) at ₹2 (~$0.024) per share. The proposed IPO consists of a fresh issue of shares up to ₹20 billion (~$240 million) and an offer for sale of up to ₹10 billion (~$ 12 million). The company may also consider a pre-IPO placement of up to ₹4 billion (~$48 million), which would reduce the size of the fresh issue. ACME Solar plans to use ₹15 billion (~$180 million) from the net proceeds to repay or prepay certain outstanding borrowings of its subsidiaries.
Eneida, a provider of smart grid analytics solutions, <a href="https://mercomcapital.com/eneida-secures-11-4-million-in-series-b-funding/" target="_blank" rel="noopener">secured</a> €10.5 million (~$11.4 million) in a Series B funding round. The funding will allow Eneida to extend R&amp;D activity to further develop its technology for grid operators and the new energy players, and continue to scale its business and its operational analytics platform. The company attracted two new prominent investors: Junction Growth Investors, who led the round, and Santander Alternative Investments. Additionally, Korys, a long-standing Eneida investor, increased its stake, alongside participation from current investor HCapital, and the company’s founders.
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>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-sila-raises-375-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.altarea.com/" target="_blank" rel="noopener">Altarea</a>, a French-based real estate company, has acquired Prejeance Industrial, a rooftop solar development company, from the Spanish group Repsol. This acquisition will help expand the photovoltaic installation development platform in France that the Group implemented in 2023 as part of the new activities segment of its strategic roadmap.
The investment amount is approximately €140 (~$151) million (including approximately €25 (~$27) million of goodwill and €115 (~$125) million of solar power plants in operation, in construction, or under development). PI will be consolidated into the Group&#8217;s accounts starting from the second half of 2024.
Founded in 2019, Prejeance Industrial specializes in the development of small to medium-sized rooftop photovoltaic projects (between 100 and 500 kW), mainly on agricultural sheds.
As of the end of June 2024, the company claims to own and operate a total installed capacity of over 42 MW, entirely located in France, and is developing a controlled project pipeline of nearly 400 MW, including 41 MW under construction.
Last month, a Singapore-based fund manager specializing in renewable energy investments company SC Oscar, <a href="https://cms.mercomindia.com/sc-oscar-acquires-new-zealand-solar-developer-ranui-generation/" target="_blank" rel="noopener">announced</a> the acquisition of a 100% stake in Rānui Generation, a New Zealand-based solar project developer, through its renewable energy infrastructure fund, SC Renewable Energy Plus Fund 1. The acquisition includes four development-stage solar projects in New Zealand with a total capacity of around 157 MW.
According to Mercom’s Q1 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2024-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, a total of 21 solar M&amp;A transactions were recorded in Q1 2024, the same amount as in Q4 2023, but about 22% lower compared to 27 solar M&amp;A deals in Q1 2023.
Last Year, DIF Capital, an independent infrastructure equity fund manager, <a href="https://cms.mercomindia.com/dif-capital-acquires-50-stake-in-solar-company-novar-from-ib-vogt/" target="_blank" rel="noopener">acquired</a> a 50% stake in the ground-mounted solar solutions provider Novar from ib vogt for an undisclosed amount. The divestment by ib vogt, a solar development and engineering, procurement, and construction (EPC) platform, is expected to generate funds for its future investments.

Altarea Acquires Rooftop Solar Developer Prejeance Industrial

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