Pharma Firm Kilitch to Save Around ₹15 Million Annually with Rooftop Solar Project

Emmvee Plans 9 GW Ingot-Wafer Expansion Amid Revenue and Profit Hike

Cabinet Approves ₹1.28 Trillion Program to Boost Semiconductor Ecosystem

Japan Awards 89 MW Solar Capacity at an Average Tariff of $0.04/kWh

Sterling & Wilson’s Revenue Drops 9.7% YoY in Q1 FY 2027 Due to Lower EPC Business

ACME Solar Secures ₹26 Billion for 450 MW/1,800 MWh FDRE Project

Exide Invests ₹1 billion in Subsidiary to Fund Lithium-ion Cell Facility

Gujarat Mandates 51% Renewable Power for Data Centers Under New Policy

Waaree Commissions 5.15 GWh Battery Storage Container Manufacturing Plant

Sri Lanka Floats Tender for 250 MW/1,000 MWh Battery Energy Storage Systems

<a href="https://ampup.io/" target="_blank" rel="noopener">AmpUp</a>, an electric vehicle charging platform company, has secured $15 million in Series A funding. Touchdown Ventures led the funding round. Additional new investors included Autotech Ventures (Autotech) and MUUS Climate Partners (MUUS), with participation from Holman, Goodyear, Foothill Ventures, WEX Venture Capital, TechNexus Venture Collaborative, Powerhouse Ventures, and Connecticut Innovations, among others. According to the company, the funding will be used to expand its services across the U.S. market and develop energy management solutions in the EV charging sector.
Octopus Energy Generation, a British renewable energy group, has <a href="https://cms.mercomindia.com/octopus-energy-fully-acquires-renewables-developer-exagen/" target="_blank" rel="noopener">acquired</a> renewables developer Exagen through its Octopus Energy Development Partnership (OEDP) fund. This acquisition comes after Octopus acquired an initial 24% stake in Exagen through this OEPD fund in August 2022, which includes an option to purchase a 500 MW/1 GWh battery project located in the Midlands. Octopus manages nearly £7 billion (~$9.4 billion) in renewable energy projects globally, and this acquisition is expected to further accelerate the UK’s progress toward meeting its renewable energy targets by 2035.
Energy Storage Industries – Asia Pacific (ESI), an iron flow battery manufacturer and energy storage project developer, has <a href="https://cms.mercomindia.com/energy-storage-industries-raises-40-million-funding-iron-flow-batteries/" target="_blank" rel="noopener">received</a> a total investment of AU$65 million (~$40 million) in funding; AU$25 million (~$17 million) from the Queensland Government, and AU$40 million (~$23 million) of private capital from an undisclosed international firm. With the investment, ESI will continue constructing a manufacturing facility in Maryborough, Queensland, Australia, where it will assemble long-duration iron flow battery systems.
Electronics manufacturer  Kaynes Technology has <a href="https://www.mercomindia.com/kaynes-acquires-smart-meter-company-iskraemeco-india-for-%E2%82%B9430-million" target="_blank" rel="noopener">acquired</a> 100% of smart meter company Iskraemeco India, previously held by Iskraemeco Switzerland and Iskraemeco Merjenje, for ₹430 million (~$5.13 million). Iskraemeco India is engaged in supplying, installing, operating, and maintaining smart meters. The company’s total turnover in 2024 is ₹654.2 million (~$7.81 million). Kaynes Technology said in a regulatory filing that the acquisition will increase the company’s product line and service offerings.
Aditya Birla Renewables, the Aditya Birla Group’s renewable energy arm, has <a href="https://www.mercomindia.com/aditya-birla-renewables-raises-%E2%82%B925-billion-via-debenture-sale" target="_blank" rel="noopener">raised</a> ₹25 billion (~$299.26 million) through a private placement of non-convertible debentures. These include 2.5 million unsecured, listed, rated, redeemable, and non-convertible debentures with a face value of ₹0.1 million (~$1,197.03). The base issue size is up to ₹20 billion (~$239.4 million), with a greenshoe option to retain oversubscription of up to ₹5 billion (~$59.85 million). The debentures will mature on September 24, 2027.
Macquarie Asset Management (MAM), a global asset manager, has <a href="https://cms.mercomindia.com/macquarie-acquire-stake-developer-de-shaw-renewable-investments/" target="_blank" rel="noopener">agreed</a> to acquire a minority stake worth $1.725 billion in renewables developer D. E. Shaw Renewable Investments (DESRI) via several MAM-managed funds. DESRI is a member of the D. E. Shaw group, a global investment and technology development firm. MAM’s acquisition, according to the company, is expected to enable DESRI to continue its growth and strengthen its position in the energy transition market.
Solutions30, a provider of support services related to new digital technologies, has <a href="https://cms.mercomindia.com/solutions30-acquires-solar-construction-firm-xperal/" target="_blank" rel="noopener">announced</a> the acquisition of Xperal, a company that offers design, engineering, procurement, commissioning, and maintenance services for solar projects. In 2023, Xperal achieved revenues of €15 million (~$16.8 million). The acquisition will expand Solutions30’s services into the Benelux region and increase its market share.
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-return-acquires-stake-in-jp-batterie-projekte/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: EV Charging Platform AmpUp Raises $15 Million

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/10/amazon_polly_70803.mp3?version=1727930052">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-ev-charging-platform-ampup-raises-15-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
AmpUp, an electric vehicle charging platform company, has <a href="https://mercomcapital.com/ev-charging-platform-ampup-raises-15-million-series-a-funding/" target="_blank" rel="noopener">secured</a> $15 million in Series A funding. Touchdown Ventures led the funding round. Additional new investors included Autotech Ventures (Autotech) and MUUS Climate Partners (MUUS), with participation from Holman, Goodyear, Foothill Ventures, WEX Venture Capital, TechNexus Venture Collaborative, Powerhouse Ventures, and Connecticut Innovations, among others. According to the company, the funding will be used to expand its services across the U.S. market and develop energy management solutions in the EV charging sector.
Octopus Energy Generation, a British renewable energy group, has <a href="https://mercomcapital.com/octopus-energy-fully-acquires-renewables-developer-exagen/">acquired</a> renewables developer Exagen through its Octopus Energy Development Partnership (OEDP) fund. This acquisition comes after Octopus acquired an initial 24% stake in Exagen through this OEPD fund in August 2022, which includes an option to purchase a 500 MW/1 GWh battery project located in the Midlands. Octopus manages nearly £7 billion (~$9.4 billion) in renewable energy projects globally, and this acquisition is expected to further accelerate the UK’s progress toward meeting its renewable energy targets by 2035.
Energy Storage Industries – Asia Pacific (ESI), an iron flow battery manufacturer and energy storage project developer, has <a href="https://mercomcapital.com/energy-storage-industries-raises-40-million-funding-iron-flow-batteries/" target="_blank" rel="noopener">received</a> a total investment of AU$65 million (~$40 million) in funding; AU$25 million (~$17 million) from the Queensland Government, and AU$40 million (~$23 million) of private capital from an undisclosed international firm. With the investment, ESI will continue constructing a manufacturing facility in Maryborough, Queensland, Australia, where it will assemble long-duration iron flow battery systems.
Electronics manufacturer  Kaynes Technology has <a href="https://www.mercomindia.com/kaynes-acquires-smart-meter-company-iskraemeco-india-for-%E2%82%B9430-million" target="_blank" rel="noopener">acquired</a> 100% of smart meter company Iskraemeco India, previously held by Iskraemeco Switzerland and Iskraemeco Merjenje, for ₹430 million (~$5.13 million). Iskraemeco India is engaged in supplying, installing, operating, and maintaining smart meters. The company’s total turnover in 2024 is ₹654.2 million (~$7.81 million). Kaynes Technology said in a regulatory filing that the acquisition will increase the company’s product line and service offerings.
Aditya Birla Renewables, the Aditya Birla Group’s renewable energy arm, has <a href="https://www.mercomindia.com/aditya-birla-renewables-raises-%E2%82%B925-billion-via-debenture-sale" target="_blank" rel="noopener">raised</a> ₹25 billion (~$299.26 million) through a private placement of non-convertible debentures. These include 2.5 million unsecured, listed, rated, redeemable, and non-convertible debentures with a face value of ₹0.1 million (~$1,197.03). The base issue size is up to ₹20 billion (~$239.4 million), with a greenshoe option to retain oversubscription of up to ₹5 billion (~$59.85 million). The debentures will mature on September 24, 2027.
Macquarie Asset Management (MAM), a global asset manager, has <a href="https://mercomcapital.com/macquarie-acquire-stake-developer-de-shaw-renewable-investments/" target="_blank" rel="noopener">agreed</a> to acquire a minority stake worth $1.725 billion in renewables developer D. E. Shaw Renewable Investments (DESRI) via several MAM-managed funds. DESRI is a member of the D. E. Shaw group, a global investment and technology development firm. MAM’s acquisition, according to the company, is expected to enable DESRI to continue its growth and strengthen its position in the energy transition market.
Solutions30, a provider of support services related to new digital technologies, has <a href="https://mercomcapital.com/solutions30-acquires-solar-construction-firm-xperal/" target="_blank" rel="noopener">announced</a> the acquisition of Xperal, a company that offers design, engineering, procurement, commissioning, and maintenance services for solar projects. In 2023, Xperal achieved revenues of €15 million (~$16.8 million). The acquisition will expand Solutions30’s services into the Benelux region and increase its market share.
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-return-acquires-jp-batterie-projekte" target="_blank" rel="noopener">roundup</a>.

ampup

Get the most relevant India solar and clean energy news.

RECENT POSTS