Schneider, AES investment takes Uplight's valuation to $1.5 billion

FILE PHOTO: The logo of Scheider Electrics is pictured at the company's headquarters in Rueil-Malmaison near Paris, France, April 22, 2020. REUTERS/Charles Platiau

(Reuters) - A consortium of investors led by French electrical equipment group Schneider Electric and U.S. electric utility AES Corp are investing in Uplight, valuing the utility software firm at $1.5 billion, the companies said on Wednesday.

A group of private equity investors led by Huck Capital will also participate in the funding round.

Uplight, which makes software products focused on clean energy, will use the funding for acquisitions and international expansion, it said.

Investors are loading up on green energy holdings with more climate-friendly legislation expected from governments around the world.

Reporting by Tiyashi Datta and Munsif Vengattil in Bengaluru; Editing by Devika Syamnath