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SunPower, a solar technology, services, and installation company, <a href="https://cms.mercomindia.com/residential-solar-company-sunpower-acquires-ambia-solar/" target="_blank" rel="noopener">completed</a> the acquisition of Ambia Solar, a solar panel installation company based in Lindon, Utah. Both companies previously signed a non-binding letter of intent on November 11 for $37.5 million in equity, and the transaction was closed subject to customary closing conditions.
Eos Energy, a U.S.-based energy storage company that designs and manufactures long-duration zinc-based battery systems for grid and industrial applications, has <a href="https://cms.mercomindia.com/eos-energy-closes-600-million-convertible-senior-notes/" target="_blank" rel="noopener">closed</a> a previously announced $600 million convertible senior notes offering. According to the transaction, the offering of 1.75% convertible senior notes due 2031 generated approximately $580.5 million in net proceeds. With the initial purchasers fully exercising their option to buy additional notes, the company now has $600 million in total convertible notes issued and outstanding.
Ecobat, a battery recycling company, has <a href="https://cms.mercomindia.com/ecobat-sells-uk-operations-to-funds-advised-by-splitstone-capital/" target="_blank" rel="noopener">announced</a> the completion of the sale of its UK battery recycling and specialty lead operations to funds advised by Splitstone Capital, a UK-based private equity firm. The transaction includes Ecobat’s facility in Matlock and the company’s lead sheet mill in Welwyn Garden City.
Brookfield Asset Management, an asset manager specializing in renewable energy, infrastructure, real estate, and private equity, <a href="https://cms.mercomindia.com/brookfield-asset-management-acquires-alba-renewables/" target="_blank" rel="noopener">announced</a> the completion of the acquisition of Alba Renewables, a renewable energy project developer. This acquisition marks Brookfield’s entry into the Philippines, Thailand and Vietnam.
Ecoplexus, a utility-scale solar and storage project developer, <a href="https://cms.mercomindia.com/ecoplexus-secures-300-million-credit-facility/" target="_blank" rel="noopener">closed</a> a $300 million credit facility from capital accounts advised by KKR, an investment firm. The facility comprises development capital and a letter of credit facility provided by Sumitomo Mitsui Banking Corporation. The funding will be used to support the expansion of the company’s portfolio of over 13 GW of solar and storage projects across the U.S., and to advance several large-scale projects that will begin construction in the near term.
Switzerland-headquartered solar solutions provider Candi Solar has <a href="https://www.mercomindia.com/candi-solar-raises-58-5-million-in-ifc-led-funding-round" target="_blank" rel="noopener">secured</a> $58.5 million in a funding round led by the global development institution, International Finance Corporation, to deliver clean, affordable solar solutions in India and South Africa.
India-based electric vehicle solutions company Neuron Energy has <a href="https://www.mercomindia.com/ev-solutions-firm-neuron-energy-raises-%E2%82%B9310-million-in-pre-series-b-funding" target="_blank" rel="noopener">raised</a> ₹310 million (~$3.47 million) in a pre-series B round to expand its battery manufacturing capacity. The funding was led by Equanimity Ventures, Rajiv Dadlani Group, Thackersay Family Office, Chona Family Office, along with participation from some reputed family offices and high-net-worth individual investors.
India-based battery-as-a-service company BatteryPool has <a href="https://www.mercomindia.com/ev-charging-platform-batterypool-raises-%E2%82%B980-million-in-pre-series-a-round" target="_blank" rel="noopener">raised</a> ₹80 million (~$895,957) in a pre-series A round led by Inflection Point Ventures. Indian Angel Network, Chennai Angels, and Keiretsu Forum also participated in this round, along with high-net-worth individuals. BatteryPool said it will utilize the funding to scale its battery fleet by 10 times over the next 18 months to strengthen its nationwide footprint.
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-and-ma-roundup-neovolta-to-secure-13-million-in-private-placement-financing/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Residential Solar Company SunPower Acquires Ambia Solar

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-residential-solar-company-sunpower-acquires-ambia-solar/" target="_blank" rel="noopener">Mercom Capital Group</a>
SunPower, a solar technology, services, and installation company, <a href="https://mercomcapital.com/residential-solar-company-sunpower-acquires-ambia-solar/" target="_blank" rel="noopener">completed</a> the acquisition of Ambia Solar, a solar panel installation company based in Lindon, Utah. Both companies previously signed a non-binding letter of intent on November 11 for $37.5 million in equity, and the transaction was closed subject to customary closing conditions.
Eos Energy, a U.S.-based energy storage company that designs and manufactures long-duration zinc-based battery systems for grid and industrial applications, has <a href="https://mercomcapital.com/eos-energy-closes-600-million-convertible-senior-notes/" target="_blank" rel="noopener">closed</a> a previously announced $600 million convertible senior notes offering. According to the transaction, the offering of 1.75% convertible senior notes due 2031 generated approximately $580.5 million in net proceeds. With the initial purchasers fully exercising their option to buy additional notes, the company now has $600 million in total convertible notes issued and outstanding.
Ecobat, a battery recycling company, has <a href="https://mercomcapital.com/ecobat-sells-uk-operations-to-funds-advised-by-splitstone-capital/" target="_blank" rel="noopener">announced</a> the completion of the sale of its UK battery recycling and specialty lead operations to funds advised by Splitstone Capital, a UK-based private equity firm. The transaction includes Ecobat’s facility in Matlock and the company’s lead sheet mill in Welwyn Garden City.
Brookfield Asset Management, an asset manager specializing in renewable energy, infrastructure, real estate, and private equity, <a href="https://mercomcapital.com/brookfield-asset-management-acquires-alba-renewables/" target="_blank" rel="noopener">announced</a> the completion of the acquisition of Alba Renewables, a renewable energy project developer. This acquisition marks Brookfield’s entry into the Philippines, Thailand and Vietnam.
Ecoplexus, a utility-scale solar and storage project developer, <a href="https://mercomcapital.com/ecoplexus-secures-300-million-credit-facility/" target="_blank" rel="noopener">closed</a> a $300 million credit facility from capital accounts advised by KKR, an investment firm. The facility comprises development capital and a letter of credit facility provided by Sumitomo Mitsui Banking Corporation. The funding will be used to support the expansion of the company’s portfolio of over 13 GW of solar and storage projects across the U.S., and to advance several large-scale projects that will begin construction in the near term.
Switzerland-headquartered solar solutions provider Candi Solar has <a href="https://www.mercomindia.com/candi-solar-raises-58-5-million-in-ifc-led-funding-round" target="_blank" rel="noopener">secured</a> $58.5 million in a funding round led by the global development institution, International Finance Corporation, to deliver clean, affordable solar solutions in India and South Africa.
India-based electric vehicle solutions company Neuron Energy has <a href="https://www.mercomindia.com/ev-solutions-firm-neuron-energy-raises-%E2%82%B9310-million-in-pre-series-b-funding" target="_blank" rel="noopener">raised</a> ₹310 million (~$3.47 million) in a pre-series B round to expand its battery manufacturing capacity. The funding was led by Equanimity Ventures, Rajiv Dadlani Group, Thackersay Family Office, Chona Family Office, along with participation from some reputed family offices and high-net-worth individual investors.
India-based battery-as-a-service company BatteryPool has <a href="https://www.mercomindia.com/ev-charging-platform-batterypool-raises-%E2%82%B980-million-in-pre-series-a-round" target="_blank" rel="noopener">raised</a> ₹80 million (~$895,957) in a pre-series A round led by Inflection Point Ventures. Indian Angel Network, Chennai Angels, and Keiretsu Forum also participated in this round, along with high-net-worth individuals. BatteryPool said it will utilize the funding to scale its battery fleet by 10 times over the next 18 months to strengthen its nationwide footprint.
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’s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-neovolta-to-secure-13-million-in-private-placement-financing/" target="_blank" rel="noopener">roundup</a>.

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					</table>Pune-based battery-as-a-service company <a href="https://www.batterypool.com/" target="_blank" rel="noopener">BatteryPool</a> has raised ₹80 million (~$895,957) in a pre-series A round led by Inflection Point Ventures. Indian Angel Network, Chennai Angels, and Keiretsu Forum also participated in this round, along with high-net-worth individuals.
BatteryPool said it will utilize the funding to scale its battery fleet by 10 times over the next 18 months to strengthen its nationwide footprint.
Ashwin Shankar, Founder at BatteryPool, said the company is focused on strengthening its product ecosystem, building battery access, improving the user experience, and supporting the everyday EV rider.
BatteryPool offers pay-as-you-go EV battery access, allowing riders to pay in small daily, weekly, or monthly installments. The company said it manages over 2,000 batteries in six cities.
Vikram Ramasubramanian, Partner and Chief Investment Officer at Inflection Point Ventures, said, fast and efficient charging is vital because any delay directly leads to a loss of time and hence revenues. BatteryPool addresses this by providing seamless, pay-as-you-go access to charged batteries, helping riders and businesses be constantly mobile.
EV sales in India <a href="https://www.mercomindia.com/electric-vehicle-sales-clock-12-5-yoy-growth-in-q3-2025" target="_blank" rel="noopener">reached</a> 560,637 units in the third quarter (Q3) of 2025, an over 12.5% year-over-year increase from 497,974 units. EVs accounted for 8% of the overall automobile sales, which totaled 5,796,216 units in Q3, according to data released by the Ministry of Road Transport and Highways through its Vahan Dashboard.
In August this year, the Ministry of Heavy Industries <a href="https://www.mercomindia.com/government-modifies-pm-e-drive-incentives-for-electric-three-wheelers" target="_blank" rel="noopener">modified</a> incentives for electric three-wheelers under the PM Electric Drive Revolution in Innovative Vehicle Enhancement program.
The incentives have been modified for two segments. For the first segment (registered e-rickshaws and e-carts), the Ministry reduced the incentives to ₹2,500 (~$28.56)/kWh, capped at ₹12,500 (~$142.79) per vehicle for the financial year (FY) 2026, from ₹5,000 (~$57.12)/kWh, capped at ₹25,000 (~$285.59) per vehicle for FY 2025. The maximum number of such vehicles supported under the program remains at 39,034.

EV Charging Platform BatteryPool Raises ₹80 Million in Pre-Series A Round

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