Greenzo funding, African solar investment, and Arkansas PPA lead renewable deals
Greenzo Energy raised ₹130 crore in a round led by Ashish Kacholia, valuing the company at about ₹1,030 crore, to expand electrolyser manufacturing and support hydrogen project work. Fortis Green and Zeitinger Invest backed GRIPS Energy Group to acquire operating solar and battery storage assets in Senegal, Botswana, Zambia and Uganda, with a target above 100 MW by 2030. EDP Renewables signed a long-term power purchase agreement with an unnamed global technology company for a 250 MWac/351 MWdc solar project in Arkansas.
Greenzo’s ₹130 crore round, led by Ashish Kacholia, values it near ₹1,030 crore and brings three-round funding to about ₹251 crore. The company runs a 250 MW/year alkaline electrolyser plant in Sanand and counts Engineers India, Oswal Energies and Jindal Stainless among customers.
Fortis Green and Zeitinger Invest are backing GRIPS Energy Group as it buys operating solar and battery-storage assets in Senegal, Botswana, Zambia and Uganda. GRIPS aims for more than 100 MW by 2030, with expected annual avoidance of about 100,000 tonnes of CO2. EDP Renewables’ Arkansas PPA covers 250 MWac/351 MWdc with an unnamed global technology company.
The Greenzo funding could strengthen India’s electrolyser supply chain and create skilled manufacturing roles. GRIPS’s planned solar-and-battery portfolio may improve power reliability for commercial and industrial users in four African markets and could reduce local emissions. EDP’s Arkansas PPA may support cleaner electricity for digital infrastructure, though its local community effects depend on project siting and grid conditions.