African Infrastructure Investment Managers (AIIM) has invested in Starsight Power Utility, a Nigeria-based energy services company providing solar-diesel-battery hybrid and efficient cooling and lighting solutions to its commercial and industrial clients.
We continue with the second part of our feature interview with clean energy entrepreneur and financier Jigar Shah of Generate Capital. We’ve just left off discussing the risk profile of various investors and how the industry is gradually drawing attention from more traditional sources of capital, from the early adopter-venture capital mentality we have seen to date.
SunEdison founder and solar financing pioneer Jigar Shah talked to Andy Colthorpe about having the ‘freedom to invest’ for the biggest impact and why, with traditional lenders still reluctant to finance energy storage, there will always be space for frontrunners who are able to properly understand the value propositions of new and innovative sustainable technologies.
VC funding for energy storage projects increased significantly, while debt and public market financing remained “steady” during 2017, Mercom Capital has found.
Stem Inc, self-described as a supplier of “artificial intelligence-powered” energy storage, which deployed a system on average every two days last year, has closed a US$80 million Series D financing round.
Africa’s largest private equity firm has led a round of financing for Off Grid Electric to fuel the microgrid provider’s expansion in the continent, with investors including an arm of General Electric (GE).
Major oil company Shell and European utility ENGIE are among investors to have pumped US$20 million into Husk Power Systems, a developer of microgrids which is expanding its efforts in Asia and Africa.
Battery Energy Storage Solutions (BESS) an independent system solutions and flexibility services provider, has taken in more than US$100 million in outside investment since November, with plans to target 100MW of UK projects.
Energy storage provider Connected Energy has secured £3 million (US$4.13 million) of investment from Macquarie Group and ENGIE to fuel its growth plans in the UK and abroad.
“A comprehensive agenda to combat climate change” unveiled on Tuesday by New York governor Andrew Cuomo, includes the setting of a state-wide energy storage deployment target of 1,500MW by 2025.
