Funding and M&A Roundup: Aurora Solar Raises $ 250 million in Series C funding

Solar aurora, a US-based solar software company, has closed a $ 250 million Series C financing round led by Coatue, with subsequent participation of the existing investors ICONIQ Capital, Energize Ventures and Fifth Wall. In just over two years, Aurora Solar raised more than $ 320 million. Coatue is a technology investment platform with more than $ 35 billion in assets under management.

Canadian Solar, a manufacturer of solar PV modules, announced that they have a prospectus supplement the US Securities and Exchange Commission, which allows it to offer and sell up to $ 150 million of its common stock from time to time through an on-exchange program. Canadian Solar intends to use the net proceeds to invest in its battery storage business and expand its storage pipeline.

Adani Renewable Energy Holding Four Limited, a wholly owned subsidiary of Adani Green Energy transfer 74% participation by Mundra Solar Energy to Adani Tradecom on May 21, 2021. Adani Green announced the details of the transfer on the Bombay Stock Exchange. A total of 7,400 shares at par, ie 10 (~ $ 0.14) were transferred to Adani Tradecom for 74,000 (~ $ 1,015) each.

The clean energy investment firm Sunwealth announced a $ 2.9 million loan from Calvert Impact Capital to support Sunwealth’s solar access work. Sunwealth will use the funding, along with $ 4.3 million in tax equity investments from private investors, to support 18 rooftop solar projects, community buildings, and commercial office spaces that move away from traditional renewable energy funding are undersupplied.

ERG has through its subsidiary ERG Eolienne France France signed an agreement with the FPCI Capenergie 3, a fund of the Parisian private equity investor Omnes Capital, for the acquisition of 100% Omniwatt, a French company that owns a portfolio of five wind farms totaling 58 MW and two solar projects totaling 22 MW. The total installed capacity is 80 MW. The transaction price in relation to equity value is 45 million euros (~ 54.8 million US dollars).

BayWa re, a developer of renewable energies, acquired Wind and solar developer Enerpole. With the acquisition, BayWa re secures a 600 MW project portfolio, 300 MW of which is solar and 300 MW wind power. With Enerpole, BayWa re is building its seventh office in France in Carcassonne and is strengthening its presence in the Occitania region in southern France. Further appointments are planned.

Gridware, a provider of sensor technology that detects and predicts network failures, announced a seed round investment of $ 5.3 million jointly managed by Fifty Years and True Ventures, with participation from Y-Combinator, Liquid 2 Ventures, Wireframe Ventures, SOMA Capital, Anorak Ventures and a fleet of outstanding funds and angels. This round of funding will support Gridware’s efforts to use cutting edge technology to solve one of the world’s most burning challenges. Spurred on by the upcoming California fire season, the company will use these funds to accelerate its engineering and R&D efforts and expand its network of utility partnerships.

Dometic – which offers solutions for mobile living in the areas of nutrition, hygiene and safety – completed the acquisition of Zamp Solar, a North American Manufacturer of mobile solar power solutions for the outdoor market. This acquisition strengthens Dometic’s presence, expertise and sales network for mobile solar power solutions in North America.

Hull Street Energy – a private equity firm specializing in raising capital in the energy sector – announced that she has made a definitive agreement to take over the management team and the development pipeline of Foundation Solar Partners, an independent renewable energy development company specializing in the identification and development of utility-scale solar projects in select markets in the eastern United States.

GridX, a provider of cloud-based business support solutions for utilities and utilities, announced that it closed its $ 12 million Series B funding Led by Energy Impact Partners, a global investment platform that enables the transition to a sustainable energy future. This funding will accelerate the company’s product roadmap and drive market adoption.

For reports and trackers on financing and M&A transactions in the solar, energy storage, smart grid and efficiency sectors, click here.

Read last week’s funding summary.


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