Global solar companies raised $16.9 billion in corporate funding during the first half (1H) of 2026, a 56% year-over-year (YoY) increase from $10.8 billion in the corresponding period of 2025, according to Mercom Capital Group’s 1H and Q2 2026 Solar Funding and M&A Report. The number of corporate funding deals increased by 23%, from 78 in 1H 2025 to 96 in 1H 2026.

The Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana, a ₹50.7 billion (~$530.20 million) program to develop 5 GW of floating solar projects with co-located energy storage systems across India. The program requires floating solar projects to include energy storage capacity of at least 2 hours, translating to a minimum cumulative storage capacity of 10 GWh.

The Appellate Tribunal for Electricity (APTEL) set aside an order of the Tamil Nadu Electricity Regulatory Commission (TNERC) that had refused to grant a project-specific extension of the commercial operation date to a 50 MW solar project.

APTEL upheld the encashment of performance guarantees by the Tamil Nadu Generation and Distribution Company due to delays by a solar developer in commissioning a 1.5 GW project. However, it referred the issue of liquidated damages to the TNERC for fresh determination.

The Uttar Pradesh Electricity Regulatory Commission issued the draft Uttar Pradesh Electricity Grid Code Regulations, 2026, proposing a revised framework for planning, connecting, commissioning, and operating the state’s electricity system.

The Rajasthan Renewable Energy Corporation invited bids to commission public electric vehicle charging infrastructure across 236 locations in the state. The chargers are being installed under the PM E-DRIVE program. The tender covers 696 chargers across Ajmer, Udaipur, Alwar, Jodhpur, Jaipur, and Kota.

EDP Renewables, a renewable energy power producer, agreed to sell an 80% common equity stake in a 384 MW solar and battery storage portfolio in California to an Ares Infrastructure Equity fund. The portfolio includes 200 MW of solar capacity and 184 MW of battery storage capacity.

Renewable energy company Avaada Group secured approximately $1.3 billion in financial closure for its 2.15 GW renewable energy portfolio. The financing was approved by financial institutions such as the State Bank of India, REC, and Canara Bank, across four special-purpose vehicles.

Tata Power Renewable Energy, a subsidiary of Tata Power begun construction of an 800 MW wind-solar project in Andhra Pradesh. The project will comprise 400 MW of solar capacity at Pattikonda in Kurnool district and 400 MW of wind capacity at Kanekallu in Ananthapuram district.

Gurugram-based independent power producer ACME Solar Holdings reported revenue of ₹8.58 billion (~$90.8 million) in the first quarter (Q1) of the financial year (FY) 2027, up 67.8% YoY from ₹5.11 billion (~$54.1 million). Revenue from the sale of electricity increased 67.7% YoY to ₹8.57 billion (~$90.8 million) from ₹5.11 billion (~$54.1 million).

Solar module manufacturer Waaree Energies reported revenue of ₹79.38 billion (~$831.06 million) in Q1 of FY 2027, up 79.2% YoY from ₹44.26 billion (~$463.72 million). Revenue from the sale of electricity increased 67.7% YoY to ₹8.57 billion (~$90.8 million) from ₹5.11 billion (~$54.1 million).

Fuel cell and electrolyzer manufacturer Bloom Energy reported a record revenue of $1.07 billion in Q2 of 2026, a 165.5% YoY increase from $401.2 million. The revenue beat analysts’ expectations by $238.35 million. Its product revenue surged 215.4% YoY to $935.4 million, up from $296.6 million.

U.S.-based solar module manufacturer First Solar reported net sales of $1.06 billion in Q2 of 2026, a 3.7% YoY decline from $1.1 billion. Revenue was broadly in line with analysts’ expectations. The decline was primarily due to lower revenue associated with customer contract terminations recognized in the corresponding quarter of 2025. Higher module sales volumes partially offset the impact.