Pexapark bags new growth capital to target global, multi-gigawatt growth

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Image: Solarcentury.

Renewables software firm Pexapark has raised €6 million (US$6.7 million) in Series B funding as it seeks accelerate its growth through the coming years.

The funding round, led by BayWa r.e. Energy Ventures alongside existing Series A investors Encavis and RP Global, will help Pexapark bolster its suite of tools which it says are critical to subsidy-free renewables strategies.

Pexapark uses tools such as its “unique” quantitative analysis technology to price, analyse, source and manage power purchase agreements (PPAs), while also providing financial risk, portfolio management and other advisory services to renewables developers.

It already counts major European financiers and developers such as Credit Suisse, EEX, RWE and Vestas among its clients, and aims to use the new funding to expand globally.

The €6 million in new funding takes the company’s overall funding to €11 million (US$12.3 million), and co-founder and CEO Michael Waldner said Pexapark had been humbled by the support of its investors and customers alike.

“Our solutions have helped renewable energy firms secure financing via PPAs for over 5GW of projects. This new round of funding will help us grow our company to support the successful development of many more gigawatts worldwide,” he said.

Ulrich Seitz, managing director at BayWa r.e. Energy Ventures – the venture capital arm of European renewables stalwart BayWa r.e. – said it was excited to support a company helping to accelerate the renewables sector’s transition towards a subsidy-free era.

“Pexapark has already given companies a great deal of transparency into market risks in Europe via its datasets and software. This is a fundamental requirement for the industry in order to adapt to these risks worldwide and drive a global clean energy transition.”

Read Next

March 3, 2021
EDP, Iberdrola and BayWa r.e. are among the signatories of a new charter that calls on Europe to “accelerate and massively deploy” additional renewables capacity to support the continent’s green hydrogen ambitions.
March 2, 2021
A round-up of solar news from across the United States, including updates from EDF Renewables, utility group Exelon and UK-based investor SDLC.
PV Tech Premium
March 1, 2021
Mark Osborne provides a detailed analysis of First Solar’s technology and manufacturing strategy, examining its production transition issues to date and the company’s product efficiency roadmap.
Sponsored
March 1, 2021
In the second of a two-part feature, Q CELLS details its participation in TÜV Rheinland’s Quality Controlled PV program and what it means for the solar sector in the future.
February 23, 2021
Strong installs expected in China, India and other markets as supply chain concerns ease and costs drop further
February 22, 2021
BayWa r.e. has bolstered its digital services offer through the acquisition of software platforms and data science teams of German firm Kaiserwetter.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
March 9, 2021
Solar Media Events
March 17, 2021
Solar Media Events
April 13, 2021
Solar Media Events
April 20, 2021