Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTSeptember 23 (Renewables Now) - Distributed renewable energy solutions provider Zola Electric has raised USD 90 million (EUR 76.7m) in capital that will allow the company to develop next-generation hardware and software and to enter new markets.
The company said in a statement today that it secured USD 45 million of equity from a number of investors such as TotalEnergies Ventures, DBL Partners, Helios Investment Partners, Vulcan Capital, and the founders of SolarCity -- Lyndon and Pete Rive. The transaction is also supported by Electron Capital Partners through its first private equity investment.
The balance of the capital raise comes in the form of debt provided by Dutch entrepreneurial development bank FMO and solar financier Sunfunder, among other Energy Access lenders.
Zola Electric offers intelligent batteries, integrated into any energy source, including solar, for installation in homes and businesses. Its customers gain data, analytics and control of their systems through the firm’s Vision SAAS software.
At present, the company delivers energy to around 1.5 million users across more than 10 countries, mostly in Africa but also in Asia and South America.
(USD 1.0 = EUR 0.853)
Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTDuke Energy equips Hawaii university with solar and storage
May 27, 2022 17:17 CESTUS stays atop EY renewables attractiveness index, Spain heads PPA chart
May 27, 2022 16:32 CESTSavannah Energy to develop up to 500 MW of renewables in Chad
May 27, 2022 16:08 CESTCelsia building 260 MW of solar farms in Colombia
May 27, 2022 15:51 CESTAgrana, RWA equip Austrian fruit juice concentrate plant with solar modules
May 27, 2022 15:36 CEST