North America-based IPP Invenergy has secured $215 million in tax equity from clean energy capital platform Crux for its 240 MW Pleasant Prairie Solar Energy Center in Franklin County, Ohio. The project is under construction and is expected to begin commercial operations in 2027. Crux Capital Securities structured the investment through a Crux-managed vehicle, designed to monetize federal investment tax credits. Separately, Invenergy and Grant County Public Utility District (Grant PUD) have broken ground on the 120 MW Quincy Solar Energy Center near Moses Lake, Washington. The project marks Grant PUD’s first solar project in Grant County and Invenergy’s first solar project in Washington to reach construction. It is expected to begin operations in late 2027.
Aggreko, the UK-based mobile, modular power solutions company, has publicly filed a Form F-1 registration statement with the US Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of its ordinary shares. The company plans to list its shares on the New York Stock Exchange (NYSE) under the proposed ticker AGKO. The company has not disclosed the number of shares, offering price range, or timing, saying the offering remains subject to market conditions. Goldman Sachs, JPMorgan, and BofA Securities are serving as joint lead bookrunning managers, with several other banks acting as bookrunners and co-managers. The registration statement has been filed but is not yet effective, said Aggreko.
US renewable energy projects developer Swift Current Energy has closed a $750 million corporate credit facility to support its energy development activities across the country. The three-year, dual-tranche facility includes an option to increase the credit capacity by another $250 million, bringing the potential total to $1 billion. Swift says the facility will provide it with cash and letter-of-credit capacity as it develops, commercializes, owns, and operates large-scale energy projects. Since 2016, it claims to have commercialized 5 GW of clean energy projects, owns and operates more than 1 GW, and has more than 10 GW under development. Crédit Agricole CIB, ING Capital, and Truist Securities were among the lead arrangers for the financing, with Crédit Agricole CIB and ING Capital also serving as green loan structuring agents.
Coreshell Technologies, a California-based battery technology company developing lithium-ion batteries with metallurgical silicon (MGS) anodes, has been selected by the US Department of Energy (DOE) for a $50 million award. The funding, provided under the Infrastructure Investment and Jobs Act, will support the expansion of Coreshell's manufacturing facilities and the development of a US gigafactory for lithium-ion batteries using MGS anodes instead of graphite. Coreshell and project partner AM Batteries plan to establish about 2 GWh of electrode manufacturing capacity and 1.5 GWh of cell assembly capacity. AM Batteries will provide its dry-electrode coating technology for cathode production. The project aims to reduce US dependence on imported graphite and other foreign battery supply chains for electric vehicle (EV) and defense applications. It also offers a path to energy storage that isn’t ‘hostage’ to a foreign supply chain, said Coreshell CEO and Co-Founder Jonathan Tan.
Solar PV manufacturer Qcells is expanding its alliance with tech giant Microsoft to explore ways to add new energy capacity alongside the technology company’s growing AI infrastructure. Under a proposed ‘bring-your-own-capacity’ (BYOC) model, Qcells would develop and build new energy resources that could supply Microsoft directly or the local utility serving nearby communities. Microsoft would fund the power needed for its operations, aiming to match new data center demand with additional energy resources. The companies are also exploring virtual power plants (VPPs) that would aggregate residential and commercial batteries to provide electricity to the grid during periods of peak demand. Qcells said it plans to prioritize participation from income-qualified households. The expanded collaboration builds on an existing relationship that began in 2023 with a 2.5 GW solar module and EPC agreement and was expanded to 12 GW in 2024 (see Qcells Bags 12 GW Order For US-Made Solar PV Modules).
38 Degrees North (38DN), a US renewable energy platform focused on community solar and distributed generation, has secured a new debt facility from energy and infrastructure investor EIG. The financing will support 38DN’s development pipeline and near-term acquisitions, and can expand as new opportunities arise. The company said the new debt brings its total growth capital raised to more than $300 million. Founded in 2015, 38DN has more than 100 projects and 500 MW under construction or in operation. It also has an advanced pipeline of more than 250 MW expected to enter construction over the next 24 months.
Aspen Power, a US distributed energy platform, has secured a tax capital commitment covering investment tax credits (ITCs) from its 2026-2027 community solar portfolio. The portfolio includes up to 30 projects across multiple states. The transaction was structured through a partnership between US clean energy tax credit marketplace Basis Climate and clean energy infrastructure investment firm Excelsior Energy Capital. The partnership was formed to deploy up to $150 million in minority equity into distributed solar and battery storage projects. Aspen will own and operate the projects over the long term. The ITCs are committed for transfer under Section 6418 of the Inflation Reduction Act (IRA), allowing Aspen to monetize the credits generated by the projects.
US solar company Lightstar Renewables says it has been selected for eight conditional awards under New Jersey’s inaugural Dual-Use Solar Energy Pilot Program. The awards cover about 27.3 MW of planned solar capacity across Monmouth, Salem, Warren, and Cumberland counties. Lightstar was one of only three developers selected in the first solicitation under which the New Jersey Board of Public Utilities conditionally approved 16 projects totaling 52.06 MW statewide. Lightstar said the selected projects include farming activities involving crops such as soybeans, hay, grains, vegetables, and fruits, as well as livestock grazing. The awards remain conditional, with projects required to meet the program’s requirements before moving forward.
