North America Solar PV News Snippets: Fuse Energy’s Valuation Increases To $5 Billion & More

Fuse Energy raises $70 million: UK-based full-stack energy company Fuse Energy has raised $70 million in a Series B funding round led by Lowercarbon Capital and Balderton, valuing the company at $5 billion. The funding will support its efforts to launch supply operations in the US, Ireland, and Spain; develop 1 TW of solar, wind, and storage projects globally; expand The Energy Network to scale grids globally; introduce its plug-and-play solar-battery kit; and also roll out its intelligent home energy operating system. Under its business model, Fuse Energy sells its renewable energy certificates (RECs) and reinvests the money into building more clean energy infrastructure and advancing green hydrogen. 

$300 million for Aratina 1 project: Utility-scale solar energy developer and operator Avantus has closed a $300 million tax equity investment from Truist Bank for its Aratina 1 utility-scale solar and storage project. This facility in California’s Kern County comprises 200 MW of solar PV and 500 MWh of energy storage capacity. It is currently under construction with commercial operations on track for 2026.

$185 million private placement: Independent power producer (IPP) CleanCapital has announced the completion of a $185 million private placement debt issuance to US investors. It comprises 156 projects totaling over 180 MW. CleanCapital said that this offers long-term financing flexibility and is designed to scale with additional tranches over time. “This private placement unlocks an additional debt market that has historically been less accessible to DG sponsors, strengthening CleanCapital’s ability to provide optimal project financing,” stated the company.  

234 MW for Altus: Solar PV company Altus Power has acquired 234 MW of solar generation and storage assets from Greenbacker, an IPP. This distributed generation portfolio comprises over 100 sites spread across 18 US states, expanding Altus’ coverage to 30 states. The company now owns and operates over 1.3 GW of commercial and community solar assets.