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Goldwind, others help Oxford PV raise GBP 31m

Oxford PV perovskite-silicon solar cells at the company’s industrial pilot line. Source: Oxford PV (www.oxfordpv.com/)

March 15 (Renewables Now) - UK perovskite solar firm Oxford PV has raised GBP 31 million (USD 41m/EUR 36.3m) following the first close of its Series D funding round, it announced on Friday.

This time, Oxford PV got a “major” new investment from Chinese wind turbine maker Xinjiang Goldwind Science & Tech Co Ltd (HKG:2208) and also received financial support from existing shareholders such as Norwegian oil and gas major Equinor ASA (NYSE:EQNR) and the venture capital arm of Legal & General Group Plc (LON:LGEN).

Oxford PV noted that the fresh funds will allow it to move its perovskite based solar cell technology into the commercial phase.

The UK firm has raised a total of GBP 76 million in funding over the last five years. In December 2017, it got EUR 15 million (USD 17m) in financing from the European Investment Bank (EIB).

(GBP 1.0 = USD 1.326/EUR 1.171)

(EUR 1.0 = USD 1.132)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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