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

Anu Bhambhani is the Senior News Editor of TaiyangNews

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