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					</table><p><a href="https://met.com/en/" target="_blank" rel="noopener">MET Group</a>, an integrated energy company active in natural gas and renewables, has acquired a majority stake in Greece-based Zephiros Energy Trading through its MET Sales and Trading segment.</p>
<p>Zephiros Energy Trading manages Zephiros Group’s aggregation activities in Greece and is a licensed renewable energy aggregator. It combines aggregation with energy trading and provides technical, operational, and commercial support for wind, solar, and battery storage assets.</p>
<p>Switzerland-based MET Group operates across natural gas, liquefied natural gas, power, and renewables. It serves customers in 24 countries through its subsidiaries and is active in 33 national energy markets and 51 international trading hubs.</p>
<p>The acquisition gives MET Group a majority interest in Zephiros Energy Trading’s aggregation activities and exposure to Greece’s renewable energy and battery storage segments.</p>
<p>Representing the Board of Directors of Zephiros Energy Trading, Kamen Ivchev stated, “This strategic partnership combines Zephiros Energy Trading&#8217;s local expertise with MET Group’s trading capabilities, market reach and financial strength, creating new opportunities for renewable and battery asset owners in Greece. Together, we are well positioned to strengthen our role in renewable energy aggregation, develop new products and services, and support the growing flexibility needs of the Greek energy market.”</p>
<p>The size of the stake, transaction value, and other financial terms were not disclosed. The renewable energy and battery storage capacity represented by Zephiros Energy Trading’s aggregation portfolio was also not specified.</p>
<p>In 1H 2026, corporate M&amp;A activity in the solar sector <a href="https://mercomcapital.com/product/1h-and-q2-2026-solar-funding-and-ma-report" target="_blank" rel="noopener">increased</a> to 57 transactions, compared to 50 transactions in the first half of 2025, as per Mercom’s 1H and Q2 2026 Solar Funding and M&amp;A Report.</p>
<p>In August, solar project developers Verdant Energy and Aura Power Developments <a href="https://mercomcapital.com/verdant-aura-merge-form-solar-storage-ipp-uk/" target="_blank" rel="noopener">merged</a> to form a solar and battery energy storage system (BESS) independent power producer (IPP) with approximately 1 GW of operating and under-construction assets in the U.K. The merger combines Verdant’s operating and under-construction solar and co-located battery storage portfolio with Aura Power’s contracted project portfolio and will operate under the Aura Power brand.</p>


MET Group Acquires Majority Stake in Greece’s Zephiros Energy Trading

<p><strong>Silfab Solar, a solar module manufacturer, has </strong><a href="https://cms.mercomindia.com/silfab-solar-raises-100-million/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> $100 million in new financing to scale its state-of-the-art solar cell manufacturing plant</strong>. The funding comprises a $50 million equity investment led by funds advised by ARC Financial. The funding also includes investment from undisclosed existing co-investors and a $50 million senior secured financing led by Breakwall Capital, an energy-focused asset manager, and SR Alternative Credit.</p>
<p><strong>Iontra, a Colorado-based battery charging solutions provider for electric vehicles and residential energy storage systems, </strong><a href="https://cms.mercomindia.com/iontra-raises-45-million-in-series-c-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $45 million in a Series C funding round</strong>. The company has raised $120.3 million through funding so far. Energy sector investor Volta Energy Technologies led the funding round with additional support from other unnamed investors. This funding will help increase its production and make it available for customers in 2025.</p>
<p><strong>MET Group, a Switzerland-based integrated energy company, <a href="https://cms.mercomindia.com/met-group-acquires-comax-france/" target="_blank" rel="noopener">announced</a> the acquisition of 100% shareholding in Comax France</strong>, a combined heat and power and battery storage project developer. The financial terms of the transaction remained undisclosed. With this acquisition, the company has expanded its assets portfolio in Western Europe. MET Group will support the construction of Comax’s ready-to-build projects that are expected to be operational by mid-2026.</p>
<p><strong>NTPC Green Energy’s ₹100 billion (~$1.19 billion) initial public offering (IPO) was </strong><a href="https://www.mercomindia.com/ntpc-green-energy-ipo-oversubscribed" target="_blank" rel="noopener"><strong>oversubscribed</strong></a><strong> 2.42 times at the end of the bidding window on November 22, 2024</strong>. The price band was set at ₹102-108 (~$1.21- 1.28) per equity share with a face value of ₹10 (~$0.119). The IPO saw bids for 1.43 billion shares, exceeding the 593.17 million shares on offer. The company’s shares were trading at a nil grey market premium. The shares will likely be listed on the BSE and NSE on November 25, 2024.</p>
<p>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>.</p>
<p>Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-ma-roundup-lyten-acquires-battery-manufacturing-assets-from-cuberg/" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Silfab Solar Raises $100 Million


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					</table><p>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-silfab-solar-million/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Silfab Solar, a solar module manufacturer, has </strong><a href="https://mercomcapital.com/silfab-solar-raises-100-million/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> $100 million in new financing to scale its state-of-the-art solar cell manufacturing plant</strong>. The funding comprises a $50 million equity investment led by funds advised by ARC Financial. The funding also includes investment from undisclosed existing co-investors and a $50 million senior secured financing led by Breakwall Capital, an energy-focused asset manager, and SR Alternative Credit.</p>
<p><strong>Iontra, a Colorado-based battery charging solutions provider for electric vehicles and residential energy storage systems, </strong><a href="https://mercomcapital.com/iontra-raises-45-million-in-series-c-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $45 million in a Series C funding round</strong>. The company has raised $120.3 million through funding so far. Energy sector investor Volta Energy Technologies led the funding round with additional support from other unnamed investors. This funding will help increase its production and make it available for customers in 2025.</p>
<p><strong>MET Group, a Switzerland-based integrated energy company, <a href="https://mercomcapital.com/met-group-acquires-comax-france/" target="_blank" rel="noopener">announced</a> the acquisition of 100% shareholding in Comax France</strong>, a combined heat and power and battery storage project developer. The financial terms of the transaction remained undisclosed. With this acquisition, the company has expanded its assets portfolio in Western Europe. MET Group will support the construction of Comax’s ready-to-build projects that are expected to be operational by mid-2026.</p>
<p><strong>NTPC Green Energy’s ₹100 billion (~$1.19 billion) initial public offering (IPO) was </strong><a href="https://www.mercomindia.com/ntpc-green-energy-ipo-oversubscribed" target="_blank" rel="noopener"><strong>oversubscribed</strong></a><strong> 2.42 times at the end of the bidding window on November 22, 2024</strong>. The price band was set at ₹102-108 (~$1.21- 1.28) per equity share with a face value of ₹10 (~$0.119). The IPO saw bids for 1.43 billion shares, exceeding the 593.17 million shares on offer. The company’s shares were trading at a nil grey market premium. The shares will likely be listed on the BSE and NSE on November 25, 2024.</p>
<p>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>.</p>
<p>Read last week’s funding <a href="https://mercomcapital.com/funding-ma-roundup-lyten-acquires-battery-manufacturing-assets-from-cuberg/" target="_blank" rel="noopener">roundup</a>.</p>


<p><a href="https://group.met.com/" target="_blank" rel="noopener">MET Group</a>, a Switzerland-based integrated energy company, announced the acquisition of 100% shareholding in Comax France, a combined heat and power and battery storage project developer. The financial terms of the transaction remained undisclosed. With this acquisition, the company has expanded its assets portfolio in Western Europe.</p>
<p>Comax currently operates a 170 MW portfolio of small-scale thermal projects and 29 MW of battery energy storage projects across France. In addition, Comax said it has several hundred MW of battery storage projects in various stages of development in its pipeline.</p>
<p>MET Group will support the construction of Comax’s ready-to-build projects that are expected to be operational by mid-2026.</p>
<p>In 2022, MET Group also acquired a 100% stake in a 60 MW greenfield photovoltaic development project from TOREN Spolka Aksyjna, a Polish renewable project developer.</p>
<p>Johannes Niemetz, Chairman of the Flexibility Assets Division, said, “Flexibility assets are an essential part of MET Group’s integrated strategy to support the energy transition. Our investment profile is fully aligned with the green transition priorities. We are excited to enter the French market for flexible power generation and balancing services as we expand our asset portfolio in Western Europe.”</p>
<p>According to Mercom’s 9M and Q3 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-and-q3-2024-funding-and-ma-report-for-storage-and-grid/" target="_blank" rel="noopener">Report</a> for Energy Storage and Smart Grid, in 9M 2024, 18 Energy Storage M&amp;A transactions were announced in 9M 2024, up from 11 M&amp;A transactions in 9M 2023.</p>
<p>Earlier this month, S4 Energy, a Dutch-based grid-scale energy storage developer, <a href="https://cms.mercomindia.com/s4-energy-acquires-lc-energy-grid-services/" target="_blank" rel="noopener">acquired</a> LC Energy Grid Service (LCEGS), a high-voltage battery storage platform and subsidiary of LC Energy. With this acquisition, S4 Energy will be able to continue developing its existing portfolio of projects, which includes four 10 MW medium-voltage, 4-hour duration systems in the Netherlands, all of which are scheduled to become operational in 2025.</p>


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