Apricus Generation, a new holding company designed to build a national distributed solar and battery development platform as an independent power producer, has launched.
The company says it has closed an initial $28 million Series A funding round, within a total offering of $100 million set to close over the next few months. It added that this funding is slated to be used for acquiring and partnering with developers, as well as provide strategic management offerings.
“We are thrilled to have secured this funding in these challenging market conditions,” says Gautam Chandra, executive chairman and co-founder of Apricus Generation.
“Many developers have more project opportunities than access to capital, and this investment is a testament to our creative business model and our investors’ trust in us based on our past success in the renewable energy and energy sectors in general. Our model has demonstrated potential to provide investors with significant financial results in this fast-expanding industry.”
