funding

US perovskite company Tandem PV has closed on the first half of a US$12 million Series A raise after raising US$6 million for building a pilot manufacturing facility in its headquarters of San Jose, California.

Independent power producer (IPP) Cypress Creek Renewables has closed a US$450 million debt facility to fund the expansion of its solar and energy storage project pipeline in the US.

A round-up of the latest news from the US solar market, including Bridgelink Power receiving a US$200 million loan to finance its utility-scale solar projects, Vistra’s 50MW Texas plant is online and Castillo Engineering to develop 38.25MW community solar projects in New York.

Japanese investment firm Mitsui has invested €575 million (US$631.56 million) in common shares from renewable developer Mainstream Renewable Power, bringing its valuation to €2.1 billion after the transaction.

Solar tech provider Erthos has secured US$17.5 million in a Series B fund that is to help it scale its active pipeline of projects to 2.5GW.

San Francisco-based Aurora Solar, a solar sales and software designer, closed a US$200 million Series D funding round.

Utility-scale solar developer Geenex Solar has secured additional financing that will allow it to advance a pipeline of more than 8GW of PV and energy storage projects in the US Southeast and Midwest.

Mainstream Renewable Power has secured €90 million (US$101.6 million) in equity funding to support the build-out of a multi-gigawatt pipeline across Latin America, Africa and the Asia Pacific region

The US Department of Energy (DOE) is to fund projects aiming to extend the operational lifetime of solar PV projects to 50 years and support the development of advanced materials such as perovskites.

LevelTen Energy, a US firm that has developed a platform for renewable energy asset transactions, has secured the backing of Google as part of a US$35 million Series C funding round.