Finance

The add-on funding brings the energy services company’s cumulative Series E round to $250 million, and represents a significant step towards expanding Redaptive’s offerings and procuring new customers, the company said.

Funding will support BayWa r.e.’s efforts to advance its pipeline of solar, solar-plus-storage (1.1 GW) and storage projects (188 MWh) across five states.

The 2023 BloombergNEF Summit focused on grid innovations, climate change and renewable energy technology and saw in excess of 800 attendees turn out in person and on a live webcast, with about 26 corporate sponsors.

Also on the rise: First Solar released Q1 2023 earnings with guidance on the advanced manufacturing production tax credit from the IRA

Company expects to recognize about 25% of its full year guidance in the first half of 2023 and 75% in the second half, based on the advanced manufacturing production tax credit (45X) of the IRA taking effect.

The solar and energy-as-a-service company recorded more than 5,000 of new customers in Puerto Rico, representing its second highest market after California, where it added 5,512 new customers.

To date, Bank of America has provided $2.2 million in total funding to Grid Alternatives and has supported 200 fellows in their career advancement.

Partnership will expand business’ access to Yotta Energy’s energy storage solutions with solar loan financing backed by Sunstone Credit.

The largest corporate backing of distributed solar in the United States, in partnership with EDP Renewables, will be funded in part through Google’s purchase of renewable energy credits called the ImpactREC.

Also on the rise: Driven by solar, California’s net demand hit zero on Sunday. Tracking the sun on uneven terrain. And more.