Ireland already associates with the color green, but now its largest utility could be making it even greener. The Electric Supply Board said last week it would spend €10.5 billion to green technology and projects.

The Electric Supply Board said it will spend €4 billion ($6.3 billion) of the funding on renewable-energy projects and €6.5 billion ($10.24 billion) to support smart metering and smart-grid networks.

The funding is part of €22 billion ($34.65 billion) in investments the utility plans to make through 2020 to reach a goal of delivering one-third of its electricity from renewable sources.

The Irish aren’t the only ones investing in greentech. Check out this week’s roundup of deals to see who else is making a play.

Private

  • Power company AES Corp. (NYSE: AES) and private-equity firm Riverstone Holdings said last week the two have teamed up to pour up to $1 billion into a joint venture focused on developing large solar-electric projects around the world. The two companies will each fork out up to $500 million over five years for the newly minted company, AES Solar, which will own and operate "utility-scale" solar installations (see Large PV Gets Big Boost).
  • Startup Aptera said Wednesday it had raised enough money to manufacture and support its Typ-1, a futuristic-looking three-wheeled electric vehicle, and is on track to begin manufacturing by the end of this year (see Sci-fi Inspired Vehicle to Hit California Roads). The Carlsbad, Calif. company, which is backed by Idealab and Esenjay Investments, did not disclose when and how much it had raised. In November, Aptera announced it was raising funding (see Aptera Launches 3-Wheeler and Mr. Spock’s New Ride).
  • Agricultural giant Cargill and catalyst developer Materia said Wednesday they have spun off Elevance Renewable Sciences. The parent companies also said Elevance had scored $40 million in a round led by TPG Growth and TPG Biotechnology Partners. The newly minted company is focused on using feedstocks such as soy, canola and corn to create bio-versions of oil-based chemicals and materials (see Cargill and Materia Spin Off Biochemical Startup).
  • Canadian solar silicon producer 6N Silicon said Monday it had grabbed up to $20 million in a second round of funding. Good Energies led the financing. Previous investors Ventures West Management and Yaletown Venture Partners also participated. The money will be used to move 6N Silicon into commercial production. The company aims to make low-cost, solar-grade silicon.
  • Spokane, Wash.-based fuel-cell maker ReliOn has raised $16.9 million in a third round of funding, according to Private Equity Hub and TradingMarkets.com.  Pacific Corporate Group, Chrysalix Ventures, Enterprise Partners, Wall Street Technology Partners and Oak Investment Partners contributed to the financing. ReliOn’s is expected to use the money to expand beyond its current customer base, which consists of telecommunication providers and other communication companies, according to TradingMarkets.com.
  • MIT spinoff 1366 Technologies said Thursday it scored $12.4 million in a first round of finding to develop silicon solar cells. North Bridge Venture Partners and Polaris Venture Partners co-led the financing. The spinoff said its approach will combine advancements in cell architecture and manufacturing improvements to bring prices down so that solar is competitive with coal-based electricity.
  • Clean Mobile has raised €3.3 million in its first round of venture-capital funding, according to an announcement from Earlybird Venture Capital on Monday. Earlybird and the Silicon Valley Technology Group led the round and High Tech Gründer Fonds participated. Clean Mobile is developing fuel-cell power drives for small vehicles such as city scooters, wheelchairs and small delivery vehicles.
  •  Onzo, a U.K.-based energy-management and carbon-monitoring company, has raised £2 million ($3.9 million) from Scottish & Southern Energy and its investment partner Sigma Capital Group, which each invested £1 million, according to Thomson Financial (via Trading Markets). As part of the deal, the utility also has ordered more than £7 million ($13.8 million) of Onzo’s products and has exclusive rights to the startup’s products and services.

Funds

  • Generation Investment Management LLP, the London-based firm founded by former Vice President Al Gore and former Goldman Sachs Asset Management CEO David Blood, is launching a venture-capital fund, according to Dow Jones’ Clean Technology Investor. The fund is expected to complement Generation Investment’s asset-management work around sustainability, the newsletter reported.
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