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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-battery-manufacturer-northvolt-secures-loan/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Northvolt, a Sweden-based manufacturer of lithium-ion batteries, </strong><a href="https://mercomcapital.com/battery-manufacturer-northvolt-secures-5-billion-loan/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the signing of a $5 billion non-recourse project financing to expand its battery gigafactory, Northvolt Ett, in northern Sweden.</strong> The new debt financing package, which is said to be the largest green loan raised in Europe to date, includes refinancing of the $1.6 billion debt package that Northvolt raised in July 2020 and is backed by long-term offtake contracts with partners, such as BMW, Scania, Volvo Cars and Volkswagen Group, amounting to over $55 billion.</p>
<p><strong>International Battery Company, a lithium-ion battery startup, </strong><a href="https://www.mercomindia.com/ibc-raises-35-million-fund-factory-bengaluru" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $35 million (₹2.91 billion) in a pre-series A round led by RTP Global</strong>, a venture capital firm based in Bengaluru, and other Korean and U.S. investors. Singapore-based Beenext and Veda VC, an early-stage venture capital fund, also contributed to the investment.</p>
<p><strong>European Energy, a renewable energy project developer, has </strong><a href="https://mercomcapital.com/mitsubishi-hc-capital-to-acquire-20-stake-in-european-energy/" target="_blank" rel="noopener"><strong>signed</strong></a><strong> an investment agreement with Mitsubishi HC Capital</strong>. Mitsubishi HC Capital will subscribe to around 72 million ordinary new shares and purchase, in the aggregate, around 3 million ordinary shares from the three major shareholders in European Energy controlled by Knud Erik Andersen, Mikael D. Pedersen, and Jens-Peter Zink. As a result, Mitsubishi HC Capital will hold 20% of the outstanding shares and voting rights in European Energy at the closing of the transaction.</p>
<p><strong>Eddy Grid, an energy storage startup, <a href="https://mercomcapital.com/energy-storage-startup-eddy-grid-million/" target="_blank" rel="noopener">secured</a> €1.5 million (~$1.63 million) in a funding round</strong> led by the Graduate Entrepreneur fund, Herberth Samsom, alongside Rockstart’s Energy Fund and Volve Capital. Many angel investors also joined the round, including Jan Saan of CM.com, Thijs Verheul and Sjuul Berden of United Wardrobe, and Bastiaan van de Rakt of WhyCommitCapital. The capital will be utilized to expedite the company&#8217;s growth. The team aims to expand its offerings to serve customers more broadly and accelerate the rollout of collaborations.</p>
<p><strong>Tandem PV, a developer of perovskite solar technology, </strong><a href="https://www.tandempv.com/news/tandem-pv-raises-additional-%246m-to-accelerate-perovskite-commercialization" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $6 million in a funding round led by existing investor Planetary Technologies</strong>. Other institutional investors participated, including new investor Uncorrelated Ventures and Tom Werner, former chairman, president, and CEO of SunPower Corporation. The company plans to use the funds to advance research and development and plans to build its first manufacturing facility.</p>
<p>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>.</p>
<p>Read last week&#8217;s funding <a href="https://mercomindia.com/funding-and-ma-roundup-ninedot-raises-225-million" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Battery Manufacturer Northvolt Secures $5 Billion Loan


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-altus-power-acquires-solar-projects/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Altus Power, an independent developer, owner, and operator of commercial-scale solar facilities, </strong><a href="https://mercomcapital.com/altus-power-acquires-121-mw-of-solar-projects/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of Project Hyperion</strong>, which owns 121 MW of solar power projects in North and South Carolina. Altus acquired the projects using the funds advised by Basalt Infrastructure Partners and Soltage, an owner and developer of distributed solar and storage assets.</p>
<p><strong>Emeren, a solar project developer, announced the </strong><a href="https://mercomcapital.com/emeren-acquires-solar-portfolio-in-spain/" target="_blank" rel="noopener"><strong>acquisition</strong></a><strong> of an 86 MW utility-scale solar power project portfolio in Spain</strong> from Negratin Global Services, an industrial and service group company. The project portfolio comprises 13 utility-scale solar projects ranging from 6 MW to 14 MW. All the projects are in the ready-to-build stage and are expected to begin construction in late 2024.</p>
<p><strong>European Energy, a solar project developer, announced the </strong><a href="https://mercomcapital.com/european-energy-sells-over-100-mw-solar-wind-projects/" target="_blank" rel="noopener"><strong>sale</strong></a><strong> of three renewable energy projects in Germany and the UK</strong>, with a cumulative capacity of over 100 MW. The projects include Bubney Solar Farm in the UK, with a capacity of 40.4 MW, and the Bloosballich Wind Park in Germany, with a 12.6 MW capacity. The divestment also included an additional wind power project in Germany, which the company did not name and accounted for the remaining capacity.</p>
<p><strong>Dominion, an electric utility company, </strong><a href="https://mercomcapital.com/dominion-sells-38-mw-solar-project-spain/" target="_blank" rel="noopener"><strong>sold</strong></a><strong> the 37.83 MW Valdecarretas solar photovoltaic project in Spain to Renewables Japan Corporation</strong>, a Japan-headquarter power generation company. The Valdecarretas photovoltaic park is located in Zamora (Spain) and has been operating since its commissioning last July.</p>
<p><strong>In a first-of-its-kind transaction undertaken by a public sector undertaking, SJVN, a joint venture between the Government of India and the state of Himachal Pradesh</strong>, <a href="https://www.mercomindia.com/sjvn-%e2%82%b9100-billion-fund-construction-renewable-projects" target="_blank" rel="noopener">secured</a> ₹100 billion (~$1.2 billion) of Construction Financing Facility to fund its upcoming renewable power projects. The financing was raised by Deutsche Bank, State Bank of India, Punjab National Bank, Bank of India and, Mitsubishi and United Financial of Japan Financial Group (MUFG) Bank.</p>
<p><strong>GreenYellow, a decentralized solar photovoltaic production company, </strong><a href="https://fr.greenyellow.com/en/news/greenyellow-acquires-three-asset-portfolios-demeter" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of three portfolios of operational solar assets</strong> from Demeter Investment Managers totaling 20 MW in France. The acquired assets include Eifficentre, a portfolio of energy efficiency projects in partnership with Eiffage, as well as the solar power plants Vanilla Solar and Lavanda Solar.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-encavis-acquires-solar-project/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Altus Power Acquires 121 MW Solar Projects


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					</table><p><strong>Sustainable infrastructure investor Greenbacker Capital Management has </strong><a href="https://mercomcapital.com/greenbacker-acquires-bess-project-california/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> a 30-MW/120-MWh battery energy storage system project</strong> in Imperial County, California, from the solar and storage developer SunCode. The project has a long-term power purchase agreement in place with an investment-grade utility and is expected to enter commercial operation in the third quarter of 2023.</p>
<p><strong>Altus Power, an independent solar power producer, </strong><a href="https://mercomcapital.com/altus-power-secures-funding-funding/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> an incremental $47 million in debt funding from Blackstone</strong>. The total debt will provide long-term fixed-rate financing for 35 MW of operating assets in Altus Power’s portfolio. The proceeds will be used to pay off $15.8 million outstanding under the company’s construction facility, with the remainder as net cash proceeds to be reinvested in its business.</p>
<p><strong>European Energy, a solar project developer, <a href="https://mercomcapital.com/european-energy-sells-solar-project-italy/" target="_blank" rel="noopener">signed</a> an agreement with IREN, an Italian energy group, for the sale of the ready-to-build 20.39 MW of Noto solar project in Sicily.</strong> The agreement falls within the framework of the partnership signed between the companies in January 2022 for the pipeline of more than 437.5 MW photovoltaic projects on sites in Lazio, Puglia, and Sicily.</p>
<p><strong>Investment firm Blackstone Infrastructure Partners has </strong><a href="https://mercomcapital.com/blackstone-completes-equity-investment-invenergy-renewables/" target="_blank" rel="noopener"><strong>finalized</strong></a><strong> an approximately $1 billion equity investment in sustainable energy solutions provider Invenergy Renewables Holdings</strong>. The infusion of funds will play a vital role in supporting Invenergy’s diverse portfolio of projects, which encompasses solar and onshore wind farms, energy storage facilities, offshore wind initiatives, high-voltage direct current interregional transmission lines, clean hydrogen projects, solar module manufacturing, and the burgeoning its Reactivate venture that focuses on community solar initiatives.</p>
<p><strong>Uzma, an energy service provider company, announced that through its subsidiary, Uzma Kuala Muda successfully </strong><a href="https://mercomcapital.com/uzma-secures-solar-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> RM225 million</strong> (~$48.44 million) Syndicated Islamic Financing Facilities to support the construction, development, operation, and maintenance of a 50 MW solar project. Affin Islamic Bank and the Export-Import Bank of Malaysia provided the funding. The project will be constructed at Lot 4, Bukit Selambau, Mukim Kuala Muda, Sungai Petani, Kedah Darul Aman.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://www.mercomindia.com/project-finance-brief-grenergy-solar-project-spain" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Greenbacker Acquires 120 MWh BESS Project in California

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