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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-palmetto-raises-150-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Palmetto, a provider of solar-based software solutions, <a href="https://mercomcapital.com/residential-solar-solutions-provider-palmetto-raises/" target="_blank" rel="noopener">announced</a> $150 million in funding from TPG Rise Climate</strong>, investing strategy of TPG&#8217;s global impact investing platform TPG Rise. Additional terms of the investment were not disclosed. Palmetto provides solar software solutions to connect buyers, sellers, lenders, and installers through a single platform. With this investment, the company plans to expand its software ecosystem and accelerate its growth and expansion.</p>
<p><strong>United States-based equity investment firm GQG Partners has closed a major deal involving secondary block trade </strong><a href="https://mercomindia.com/gqg-partners-invests-adani-companies/" target="_blank" rel="noopener"><strong>transactions</strong></a><strong> amounting to ₹154.46 billion (~$1.87 billion) in the Adani Portfolio companies.</strong> The investments include ₹54.6 billion (~$663.21 million) in Adani Enterprises for 38.7 million shares at a price of ₹1,410.86 (~$17.14) per share. Adani Ports and Special Economic Zone received ₹52.82 billion (~$641.59 million) for 88.6 million shares at a price of ₹596.2 (~$7.24) per share. Adani Transmission received ₹18.98 billion (~$230.54 million) for 28.4 million shares at ₹668.4 (~$8.12) per share. The investment in Adani Green Energy stood at ₹28.06 billion (~$340.81 million) for 55.6 million shares at ₹504.6 (~$6.13) per share.</p>
<p><strong>Sakuu Corporation, a provider of solid-state battery solutions, </strong><a href="https://mercomcapital.com/sakuu-goes-public-via-a-spac-deal/" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into a definitive business combination agreement with Plum Acquisition Corp. I</strong>, a special purpose acquisition company, for a merger resulting in Sakuu becoming a publicly traded company. The business combination values the company at an enterprise value of $705 million. The transaction is expected to close in the third quarter of 2023.</p>
<p><strong>Renewable energy company Greenko Group announced the signing of definitive agreements for a primary equity </strong><a href="https://mercomindia.com/greenko-700-million-pumped-storage/" target="_blank" rel="noopener"><strong>raising</strong></a><strong> of $700 million</strong> from affiliates of Singapore&#8217;s sovereign wealth fund GIC, ORIX Corporation, and a wholly owned subsidiary of the Abu Dhabi Investment Authority. The company will use the $700 million investment towards the capital expenditure of pumped storage projects with a more than 25 GWh storage capacity, enabling 45 billion units of dispatchable carbon-free energy.</p>
<p><strong>Tata Power Renewable Energy (TPREL), a wholly-owned subsidiary of Tata Power, has </strong><a href="https://mercomindia.com/tata-power-renewable-sale-shares-greenforest/" target="_blank" rel="noopener"><strong>approved</strong></a><strong> the allotment of 200 million</strong> compulsorily convertible preference shares to GreenForest New Energies. The shares have a face value of ₹100 (~$1.2) each at par, amounting to a total of ₹20 billion (~$242.4 million). The share sale completes the two investment tranches of ₹20 billion (~$242.4 million) each in TPREL by GreenForest.</p>
<p><strong>RWE, a German power generation company, has </strong><a href="https://mercomcapital.com/rwe-acquires-solar-and-battery-storage-company-jbm-solar/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> JBM Solar, an independent solar and battery storage developer</strong> based in the U.K. The company bought JBM Solar from renewables investor Susgen for an undisclosed sum. The acquisition will add a pipeline of more than 6 G.W. to RWE&#8217;s existing portfolio, including 3.8 GW of solar capacity and 2.3 GW of battery storage projects.</p>
<p><strong>Energy-focused private equity firm EIG Partners has</strong><a href="https://mercomcapital.com/solar-projects-developer-industrial-sun-receives-90-million-in-funding/" target="_blank" rel="noopener"><strong> invested</strong></a><strong> $90 million in Industrial Sun, a utility-scale solar projects developer</strong> owned by U.S. clean energy company Modern Energy. This new investment brings EIG Partners&#8217; total investment in Modern Energy and its affiliate to $190 million, following the debt financing completed in mid-2020.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency 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-eo-charging-raises-80-million/" target="_blank" rel="noopener">roundup</a>.</p>
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Funding and M&A Roundup: Solar Solutions Provider Palmetto Raises $150 Million

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