North America PV News Snippets

Hanwha Solutions Invests in Lancium Technologies… & More

North America PV News Snippets

Lancium Technologies has raised $150 million from a host of investors with Hanwha Solutions alone pooling in $100 million in the technology startup. (Illustrative Photo; Photo Credit: Chatchawal Phumkaew/Shutterstock.com)

  • Hanwha Solutions has committed $100 million in renewable energy electricity management technology company Lancium Technologies
  • CleanCapital has acquired 11.9 MW solar power capacity from EDF Renewables
  • Apollo Funds will acquire 50% stake in Broad Reach Power from existing investor EnCap Investments L.P.

Hanwha invests in Lancium: Hanwha Solutions has invested $100 million in Texas, US based technology startup called Lancium Technologies that provides renewable-based electricity management service for energy-heavy devices. Hanwha gets a seat on Lancium’s board while enabling it to expand its clean energy business into software-based electricity management for data centers. Apart from Hanwha, Lancium’s $150 million financing round included other investors as Novawulf and SBI Holdings.

CleanCapital acquires 11.9 MW solar: Distributed solar and storage projects investor CleanCapital has acquired 2 operational solar power projects with 11.9 MW capacity from EDF Renewables in Massachusetts, US. The facilities are located in the Town of Billerica and the Town of Wareham. With this acquisition, CleanCapital says its cumulative acquisitions now total more than $880 million with it having acquired or financed 250 MW in all.

Apollo Funds acquires stake in Broad Reach: Apollo and EnCap Energy Transition Fund I (EETFI) have announced Apollo Funds will acquire 50% stake in utility scale renewables and storage platform in the US, Broad Reach Power. Apollo Funds will acquire the stake from existing investor EnCap Investments L.P. and its co-investment partners Yorktown Partners and Mercuria Energy. Remaining 50% stake will be held by EnCap and its co-investment partners. Together with the Apollo Funds, they plan to invest up to $400 million of additional equity to fund Broad Reach’s continued expansion and growth pipeline.

Broad Reach claims to have over 1.4 GW storage assets in operation or under construction and controls 21 GW portfolio of utility scale solar, wind and storage power projects in the US.

About The Author

Anu Bhambhani

Senior News Editor: Anu Bhambhani is the Senior News Editor of TaiyangNews. Anu is our solar news whirlwind. At TaiyangNews she covers everything that is of importance in the world of solar power.Before joining our team, Anu worked in various positions at publications of the Times Group in New Delhi. As a Principal Correspondent, she conceptualized special features and supplements for both The Times of India and The Economic Times. While Anu delved deep into solar at TaiyangNews, environment topics have been close to her heart before. As Assistant Editor, she was responsible for launching Planet Earth for The Economic Times, a special series on environment. Before joining the Times Group, Anu was a Copy Editor at the Hindustan Times.Anu holds a Masters degree in Journalism and Mass Communications from the University of Rajasthan. She also studied at the Centre for Science and Environment in New Delhi on E-Outreach: New Media Technologies for Advocacy and Strategic Communication, Social Media

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