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Terabase Energy Secures $130 Million to Expand Solar Technology Deployment

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Terabase Energy, a company specializing in solar technology, announced on Thursday that it has raised $130 million in funding, led by SoftBank, to scale its operations and expand the deployment of its solar technology for large projects. This funding round is the largest in the company’s history, bringing its total funding to $200 million. While the company did not disclose its valuation during this round, the investment highlights strong investor confidence in its future.

Despite solar and energy storage accounting for 84% of new electricity generation capacity added to the U.S. power grid in 2024, the sector is facing challenges due to new U.S. energy policies that continue to support fossil fuels. Additionally, venture funding in the U.S. has been relatively quiet in early 2025, with a few AI-focused companies capturing most of the spotlight.

Terabase Energy’s platform collaborates with solar power plant developers, engineers, and construction firms, streamlining processes through workflow digitalization and automation. The company plans to use part of its new funding to enhance its robotics-assisted assembly line, Terafab, designed to alleviate “bottlenecks in construction speed and workforce limitations.”

In addition, Terabase operates PlantPredict, a solar modeling software, and Construct, a construction management platform. Kentaro Matsui, managing partner at SoftBank Global Advisers, highlighted that the surge in energy demand, particularly from AI data centers, underscores the need for scalable and sustainable solutions.

SoftBank, which is known for financing early-stage technology companies, also supported Terabase through its Vision Fund 2. Other existing investors in the company include Breakthrough Energy Ventures, Fifth Wall, SJF Ventures, and EDP Ventures.

EDP Renewables Signs Virtual Power Purchase Agreement with Microsoft for Solar Projects

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EDP Renewables North America announced on Monday that it has successfully delivered three large-scale solar projects and entered into a long-term virtual power purchase agreement (VPPA) with Microsoft (MSFT.O). The agreement highlights the growing trend among tech giants to secure cleaner energy sources to power their operations, especially data centers, as they continue to invest heavily in artificial intelligence.

The three solar projects, located in Illinois and Texas, will collectively generate around 400 megawatts (MW) of electricity. Under the terms of the VPPA, Microsoft will purchase approximately 389 MW of electricity and renewable energy credits, contributing to the tech company’s sustainability goals.

The Illinois-based projects include a 140 MW solar installation in Jacksonville and a 110 MW solar park near Jerseyville, both of which began operations in November. Additionally, a 150 MW solar facility near Austin, Texas, came online in December 2024.

This agreement brings the total number of solar projects EDP Renewables has developed for Microsoft in the U.S. to five, further strengthening the partnership between the two companies in their pursuit of clean energy solutions.

Bitfarms Explores AI Data Center Transition Amid Growing Demand

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anadian bitcoin miner Bitfarms (BITF.TO) is evaluating a potential shift toward artificial intelligence (AI) data centers as demand for high-performance computing (HPC) rises. The Toronto-based company announced on Friday that it has enlisted consulting firms Appleby Strategy Group and World Wide Technology to assess its North American facilities and develop an AI-focused strategy.

Cryptocurrency mining operations possess key assets—large plots of land and substantial power resources—that align with the infrastructure needs of AI data centers. Many miners, including Bitfarms, see an opportunity to capitalize on the AI boom by repurposing some of their facilities. However, critics warn that AI data centers require a higher level of sophistication, making such transitions complex.

The consultants will not only evaluate the feasibility of this pivot but also market Bitfarms’ sites to potential AI customers. This move follows a similar initiative by Riot Platforms (RIOT.O), which recently began reviewing AI and computing applications for parts of its Texas facility.

Bitfarms CEO Ben Gagnon emphasized the financial benefits of diversifying operations, stating that AI and HPC contracts offer “long-term, steady cash flows and earnings streams,” while bitcoin mining continues to provide “flexible upside potential.”