Nanosolar Inc., a Palo Alto, Calif.-based provider of lower-cost solar energy panels, has raised $50 million from EDF Energies Nouvelles SA. The equity is part of a strategic agreement whereby Nanosolar next year will begin supplying EDF with panels. No word on if a rumored $2 billion valuation was attached.
Nanosolar had previously received a $20 million grant from the U.S. Department of Energy, and raised around $100 million in VC funding from Mohr, Davidow Ventures, Benchmark Capital, Mitsui & Co., Onpoint, SAC Capital, GLG Partners, Swiss Re and Grazia Equity. www.nanosolar.com