The Week in Deals
2 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Jan 21 | Strategic & Growth Capital | Geothermal | Sage Geosystems | Ormat Technologies ($25M, co-lead), Carbon Direct Capital (co-lead), Exa, Nabors, alfa8, Arch Meredith, Abilene Partners, Cubit Capital, Ignis H2 Energy, SiteGround Capital, UC Berkeley Foundation Climate Solutions Fund | $97M | TX | Closed | Sage Geosystems closes $97M+ Series B co-led by Ormat Technologies ($25M equity) and Carbon Direct Capital. First commercial Pressure Geothermal power generation facility to be deployed at existing Ormat power plant in Western US. Technology extracts geothermal heat from hot dry rock using proprietary underground reservoir engineering (no hydraulic fracturing). Ormat receives rights to develop/own/operate geothermal plants using Sage's technology upon successful pilot completion. Target market: data center firm power and long-duration storage. CEO: Cindy Taff. | |
| Jan 20 | Project Finance | Solar | Radial Power | Goldman Sachs | $355M | Multi-state | Closed | Combined tax equity and debt financing for 106 commercial and community solar projects. CODs expected through 2026. |
Change of Control
1 moveColin Parkin promoted to President at Canadian Solar
The restructuring separates the CEO and President roles at one of the largest integrated solar manufacturers, with Dr. Shawn Qu remaining as Chairman and CEO.
Jan 20
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