Gujarat Floats Tender for 4.2 MW Solar Projects

APTEL Rejects Plea Against Transmission Charges on Delayed Solar Projects

CERC Condones Delay in Wind Energy Developer’s REC Application

Ahmedabad Issues Rate Contract Tender for 1 MW Solar Projects

Palisade Acquires 1.4 GW of Wind and Battery Storage Projects in Australia

Gujarat Hikes Additional Surcharge for Open Access Consumers to ₹0.99/kWh

Furo Raises $4 Million to Expand Battery Optimization Platform

Enel Completed Acquisition of 625 MW Solar Portfolio in the US

R3 Lithium Raises $15 Million in Series A Funding for Recycling Facility

SECI Awards Transformer Supply Contract for 700 MW Solar Project

Camus Energy, a grid orchestration platform, <a href="https://cms.mercomindia.com/camus-energy-secures-25-million-series-a-funding/" target="_blank" rel="noopener">secured</a> over $25 million in Series A funding after closing its $10 million extension. The round was co-led by climate firm Congruent Ventures and marketplace investor Wave Capital, with participation from Align Impact, Remarkable Ventures Climate Fund, and Groundswell Ventures, alongside Congruent and Wave’s Limited Partners.
Fever, a provider of an Application Programing Interface (API)-centric platform for virtual power plants, <a href="https://cms.mercomindia.com/grid-tech-company-fever-raises-10-7-million-seed-funding/" target="_blank" rel="noopener">raised</a> €10 million (~$10.7 million) in a seed funding round led by General Catalyst, with participation from previous investors, including La Famiglia and Norrsken VC. The funding will be used to accelerate Fever’s expansion plans, deepen product development, and expand collaborations across Europe. This round brings the company’s total amount of funding to €11.6 million (~$12.4 million).
Greenalia, a Spain-based developer of renewable power projects, <a href="https://cms.mercomindia.com/greenalia-secures-three-year-credit-facilities/" target="_blank" rel="noopener">announced</a> the close of $200 million of three-year credit facilities to support the development of its solar and wind project pipeline in the U.S. The funding will be used to finance project equipment, as well as other development and construction expenses. Nomura Securities International, Inc. led the financing and acted as the Sole Underwriter, Lead Arranger, and Bookrunner of the Facilities. PEI Global Partners served as Exclusive Financial Advisor to the Company. Holland &amp; Knight acted as Borrower&#8217;s Counsel. Norton Rose Fulbright acted as the lender&#8217;s counsel.
Daze, a provider of EV charging solutions, <a href="https://cms.mercomindia.com/daze-secures-16-million-series-a-funding/" target="_blank" rel="noopener">secured</a> €15 million (~$16.1 million) in Series A funding led by CDP Venture Capital through the EnergyTech compartment of the Corporate Partners I fund and the Green Transition fund, which utilizes resources allocated by the European Union through the NextGeneration EU initiative.
Rooftop solar company SolarSquare has <a href="https://www.mercomindia.com/solarsquare-consultancy-firm-pv-diagnostics" target="_blank" rel="noopener">acquired</a> PV Diagnostics, a company with expertise in the utility-scale solar power sector, to enhance the quality and efficiency of its residential solar installations throughout India. PV Diagnostics is a consultancy solutions provider in the solar industry, offering a range of services across the photovoltaic value chain.
Natural gas company Mahanagar Gas Limited has <a href="https://www.mercomindia.com/mahanagar-gas-forays-into-ev-sector" target="_blank" rel="noopener">announced</a> the acquisition of 30.97% shareholding in 3ev Industries, a three-wheeler electric vehicle manufacturer, for ₹960 million (~$11.56 million). The equity infusion, which is a part of the share subscription agreement between the companies, will be made in tranches, with the first tranche expected before the end of this month.
Hyderabad-based electric vehicle manufacturer Pure EV has <a href="https://www.mercomindia.com/pure-ev-raises-funding-to-expand-sales-india" target="_blank" rel="noopener">secured</a> $8 million in the latest round of funding to help the company expand its sales network in India from 140 to 300 dealers in the next six months. The funding was led by Benett Coleman and Company, Hindustan Times Media Ventures, Ushodaya Enterprises, existing investors, and high net-worth individuals.
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-lithium-extraction-firm-lilac-solutions-secures/" target="_blank" rel="noopener">roundup</a>

Funding and M&A Roundup: Camus Energy Secures Over $25 Million

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-camus-energy-secures/" target="_blank" rel="noopener">Mercom Capital Group</a>
Camus Energy, a grid orchestration platform, <a href="https://mercomcapital.com/camus-energy-secures-25-million-series-a-funding/" target="_blank" rel="noopener">secured</a> over $25 million in Series A funding after closing its $10 million extension. The round was co-led by climate firm Congruent Ventures and marketplace investor Wave Capital, with participation from Align Impact, Remarkable Ventures Climate Fund, and Groundswell Ventures, alongside Congruent and Wave’s Limited Partners.
Fever, a provider of an Application Programming Interface (API)- centric platform for virtual power plants, <a href="https://mercomcapital.com/grid-tech-company-fever-raises-10-7-million-seed-funding/" target="_blank" rel="noopener">raised</a> €10 million (~$10.7 million) in a seed funding round led by General Catalyst, with participation from previous investors, including La Famiglia and Norrsken VC. The funding will be used to accelerate Fever’s expansion plans, deepen product development, and expand collaborations across Europe. This round brings the company’s total amount of funding to €11.6 million (~$12.4 million).
Greenalia, a Spain-based developer of renewable power projects, <a href="https://mercomcapital.com/greenalia-secures-three-year-credit-facilities/" target="_blank" rel="noopener">announced</a> the close of $200 million of three-year credit facilities to support the development of its solar and wind project pipeline in the U.S. The funding will be used to finance project equipment, as well as other development and construction expenses. Nomura Securities International, Inc. led the financing and acted as the Sole Underwriter, Lead Arranger, and Bookrunner of the Facilities. PEI Global Partners served as Exclusive Financial Advisor to the Company. Holland &amp; Knight acted as Borrower&#8217;s Counsel. Norton Rose Fulbright acted as the lender&#8217;s counsel.
Daze, a provider of EV charging solutions, <a href="https://mercomcapital.com/daze-secures-16-million-series-a-funding/" target="_blank" rel="noopener">secured</a> €15 million (~$16.1 million) in Series A funding led by CDP Venture Capital through the EnergyTech compartment of the Corporate Partners I fund and the Green Transition fund, which utilizes resources allocated by the European Union through the NextGeneration EU initiative.
Rooftop solar company SolarSquare has <a href="https://www.mercomindia.com/solarsquare-consultancy-firm-pv-diagnostics" target="_blank" rel="noopener">acquired</a> PV Diagnostics, a company with expertise in the utility-scale solar power sector, to enhance the quality and efficiency of its residential solar installations throughout India. PV Diagnostics is a consultancy solutions provider in the solar industry, offering a range of services across the photovoltaic value chain.
Natural gas company Mahanagar Gas Limited has <a href="https://www.mercomindia.com/mahanagar-gas-forays-into-ev-sector" target="_blank" rel="noopener">announced</a> the acquisition of 30.97% shareholding in 3ev Industries, a three-wheeler electric vehicle manufacturer, for ₹960 million (~$11.56 million). The equity infusion, which is a part of the share subscription agreement between the companies, will be made in tranches, with the first tranche expected before the end of this month.
Hyderabad-based electric vehicle manufacturer Pure EV has <a href="https://www.mercomindia.com/pure-ev-raises-funding-to-expand-sales-india" target="_blank" rel="noopener">secured</a> $8 million in the latest round of funding to help the company expand its sales network in India from 140 to 300 dealers in the next six months. The funding was led by Benett Coleman and Company, Hindustan Times Media Ventures, Ushodaya Enterprises, existing investors, and high net-worth individuals.
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://mercomindia.com/funding-and-ma-roundup-lilac-solutions-secures-145-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.fever.energy/" target="_blank" rel="noopener">Fever</a>, a provider of an API-centric platform for virtual power plants, raised €10 million (~$10.7 million) in a seed funding round led by General Catalyst, with participation from previous investors, including La Famiglia and Norrsken VC.
The funding will be used to accelerate Fever’s expansion plans, deepen product development, and expand collaborations across Europe. This round brings the company’s total amount of funding to €11.6 million (~$12.4 million).
With the surge in renewable energy sources alongside electrification, the variability in energy generation and consumption is putting stress on traditional grids. Fever aims to resolve this issue using its platform to enhance grid resilience by integrating distributed energy assets with advanced software and machine learning capabilities.
Fever’s API-centric platform provides energy asset installers and operators, including leading utility companies, EV fleets, and Battery Energy Storage Operators, to run and monetize their virtual power plants by unlocking the potential of market participation, capacity modeling, orchestration, reporting, and settlements.
In tandem with this financing, Niek den Hollander, former Chief Commercial Officer at Uniper and former Senior Vice President and Head of Vattenfall’s Business Area Markets, and Holger Lichtschläger, Managing Director and Founder of Global Experts-Energy Consulting with prior executive positions at E.ON and Uniper, will be joining Fever’s Board of Directors.
According to Mercom’s Annual and Q4 2023 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report</a> for Storage &amp; Smart Grid. VC funding in the Smart Grid sector decreased 55% YoY, with $1.5 billion in 47 deals in 2023 compared to $3.3 billion in 46 deals in 2022.
Camus Energy, a grid orchestration platform, <a href="https://cms.mercomindia.com/camus-energy-secures-25-million-series-a-funding/" target="_blank" rel="noopener">secured</a> over $25 million in Series A funding after closing its $10 million extension. The round was co-led by climate firm Congruent Ventures and marketplace investor Wave Capital, with participation from Align Impact, Remarkable Ventures Climate fund (RVC), and Groundswell Ventures, alongside Congruent and Wave’s Limited Partners.

Grid Tech Company Fever Raises $10.7 Million Seed Funding

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