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POWERGRID Tenders 500 MW/1,000 MWh Battery Energy Storage Projects

Energy Storage Solutions Provider Return has <a href="https://cms.mercomindia.com/return-raises-348-million-from-apg-to-scale-energy-storage-capacity/" target="_blank" rel="noopener">secured</a> €300 million (~$348 million) in growth equity from APG, on behalf of its pension fund client ABP, acquiring a minority stake through the transaction. The new capital will accelerate the expansion of Return’s battery energy storage platform across Europe. As part of the deal, the two companies have established a long-term strategic partnership designed to provide customers with reliable and flexible energy solutions for portfolio balancing, to manage renewable flows, and to ease grid congestion across Europe.
enspired, an optimizer for battery energy storage systems, has <a href="https://cms.mercomindia.com/enspired-extends-series-b-funding-to-over-47-million/" target="_blank" rel="noopener">extended</a> its Series B funding over €40 million (~$47 million), with participation from new investor Future Energy Ventures. The round also includes renewed commitments from Zouk Capital, EnBW New Ventures, Banpu NEXT, PUSH VC, and 360 Capital. This funding extension follows the company’s €25.5 million (~$27.5 million) Series B round announced in May 2024.
Allye Energy, a U.K.-based clean-tech company focused on delivering intelligent, modular, and sustainable battery energy storage solutions, <a href="https://cms.mercomindia.com/allye-energy-raises-2-5-million-in-seed-funding/" target="_blank" rel="noopener">raised</a> $2.5 million in seed funding, led by returning investors Elbow Beach and Alpha Future Funds, to accelerate the rollout of its smart battery energy storage technology. The strategic funding round includes both equity and debt financing, offering Allye Energy the flexibility to scale up manufacturing and delivery of its energy storage systems.
The Advanced Carbons Company (TACC), a part of LNJ Bhilwara Group, has <a href="https://www.mercomindia.com/tacc-secures-sbi-for-active-anode-material-plant" target="_blank" rel="noopener">secured</a> a credit facility of ₹12.3 billion (~$139.93 billion) from the State Bank of India to finance its upcoming lithium-ion battery-grade graphite anode material manufacturing plant in Dewas, Madhya Pradesh. In its first phase, TACC plans to produce 20,000 metric tons (MT) of active anode materials annually, with a planned scale-up to 100,000 MT. The company is also advancing the commercial production of graphene and its derivatives, targeting over 4,000 MT annually.
The board of directors of Refex Green Power, a wholly-owned subsidiary company of Refex Renewables and Infrastructure, has <a href="https://www.mercomindia.com/refex-green-divest-stake-flaunt-solar-energy" target="_blank" rel="noopener">approved</a> the sale of its entire 74% equity stake in Flaunt Solar Energy, a step-down subsidiary. The stake will be sold at face value equal to cost for ₹74,000 (~$837), payable in cash, translating to ₹10 (~$0.11) per share based on a valuation that places the equity fair value in negative territory, according to a bourse filing.
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-and-ma-roundup-base-power-raises-1-billion/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Return Raises $348 Million

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-return-raises-348-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Energy Storage Solutions Provider Return has <a href="https://mercomcapital.com/return-raises-348-million-from-apg-to-scale-energy-storage-capacity/" target="_blank" rel="noopener">secured</a> €300 million (~$348 million) in growth equity from APG, on behalf of its pension fund client ABP, acquiring a minority stake through the transaction. The new capital will accelerate the expansion of Return’s battery energy storage platform across Europe. As part of the deal, the two companies have established a long-term strategic partnership designed to provide customers with reliable and flexible energy solutions for portfolio balancing, to manage renewable flows, and to ease grid congestion across Europe.
enspired, an optimizer for battery energy storage systems, has <a href="https://mercomcapital.com/enspired-extends-series-b-funding-to-over-47-million/" target="_blank" rel="noopener">extended</a> its Series B funding over €40 million (~$47 million), with participation from new investor Future Energy Ventures. The round also includes renewed commitments from Zouk Capital, EnBW New Ventures, Banpu NEXT, PUSH VC, and 360 Capital. This funding extension follows the company’s €25.5 million (~$27.5 million) Series B round announced in May 2024.
Allye Energy, a U.K.-based clean-tech company focused on delivering intelligent, modular, and sustainable battery energy storage solutions, <a href="https://mercomcapital.com/allye-energy-raises-2-5-million-in-seed-funding/" target="_blank" rel="noopener">raised</a> $2.5 million in seed funding, led by returning investors Elbow Beach and Alpha Future Funds, to accelerate the rollout of its smart battery energy storage technology. The strategic funding round includes both equity and debt financing, offering Allye Energy the flexibility to scale up manufacturing and delivery of its energy storage systems.
The Advanced Carbons Company (TACC), a part of LNJ Bhilwara Group, has <a href="https://www.mercomindia.com/tacc-secures-sbi-for-active-anode-material-plant" target="_blank" rel="noopener">secured</a> a credit facility of ₹12.3 billion (~$139.93 billion) from the State Bank of India to finance its upcoming lithium-ion battery-grade graphite anode material manufacturing plant in Dewas, Madhya Pradesh. In its first phase, TACC plans to produce 20,000 metric tons (MT) of active anode materials annually, with a planned scale-up to 100,000 MT. The company is also advancing the commercial production of graphene and its derivatives, targeting over 4,000 MT annually.
The board of directors of Refex Green Power, a wholly-owned subsidiary company of Refex Renewables and Infrastructure, has <a href="https://www.mercomindia.com/refex-green-divest-stake-flaunt-solar-energy" target="_blank" rel="noopener">approved</a> the sale of its entire 74% equity stake in Flaunt Solar Energy, a step-down subsidiary. The stake will be sold at face value equal to cost for ₹74,000 (~$837), payable in cash, translating to ₹10 (~$0.11) per share based on a valuation that places the equity fair value in negative territory, according to a bourse filing.
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-base-power-raises-1-billion" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.enspired-trading.com/" target="_blank" rel="noopener">enspired</a>, an optimizer for battery energy storage systems, has extended its Series B funding over €40 million (~$47 million), with participation from new investor Future Energy Ventures. The round also includes renewed commitments from Zouk Capital, EnBW New Ventures, Banpu NEXT, PUSH VC, and 360 Capital.
This funding extension follows the company&#8217;s previously announced €25.5 million (~$27.5 million) Series B round in May 2024, led by Zouk Capital, with participation from PUSH VC, Banpu NEXT, Vopak Ventures, and Presidio Ventures, alongside returning investors Emerald Technology Ventures, Helen Ventures, 360 Capital, and EnBW Ventures.
The company leverages data-driven optimization to maximize the revenues, efficiency, and lifespan of battery energy storage systems across power markets.
Its Route-to-Market (RTM) service supports every phase of BESS projects from backtesting and regulatory compliance to revenue planning and degradation-safe optimization across all markets.
As part of its global expansion, enspired has strengthened its partnership with Banpu NEXT, a net-zero solutions provider in the Asia-Pacific region.
&#8220;Banpu NEXT is excited to be the first partner outside of Europe to take advantage of enspired&#8217;s superior optimization approach. With their expertise and advanced AI technologies, we are collaborating on the development of innovative energy solutions for the Japanese power market. We are confident that this partnership will strengthen our BESS portfolio and energy trading business while reinforcing our strategy of AI integration in our solutions to drive smarter, more reliable, and sustainable energy systems, supporting both companies&#8217; business growth and the country&#8217;s decarbonization goals,&#8221; says Smittipon Srethapramote, CEO of Banpu NEXT.
According to Mercom&#8217;s 1H and Q2 2025 Funding and M&amp;A for Energy Storage <a href="https://cms.mercomindia.com/product/1h-2025-funding-ma-report-energy-storage/" target="_blank" rel="noopener">report</a>, VC funding in the sector totaled $1.7 billion across 36 deals, down 29% compared to the previous year.  Energy Storage Downstream companies received the most VC funding in 1H 2025. Other top-funded categories included Materials and Components, Energy Storage Systems, Sodium-based batteries, and Thermal Energy Storage companies.
In April, iwell, a provider of smart energy management and battery storage system solutions, <a href="https://cms.mercomindia.com/battery-storage-solutions-provider-iwell-secures-31-million/" target="_blank" rel="noopener">closed</a> a €27 million (~$31 million) funding round led by Meridiam, an independent investment Benefit Corporation and asset manager, through its Green Impact Growth Fund (GIGF).

enspired Extends Series B Funding to Over $47 Million

enspired

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