The boards of directors of the Power Finance Corporation (PFC) and REC have approved the scheme of merger of the two public sector non-banking financial companies that lend to power and infrastructure projects. Under the arrangement, the two companies have agreed to a share-swap ratio of 88 PFC shares for every 100 REC shares held. The merger proposals had been approved by the President of India earlier this month.

The Central Transmission Utility of India (CTUIL) issued an advisory prescribing the procedure for handling force majeure and change-in-law claims under transmission service agreements. The advisory lays out the process that transmission service providers should follow when submitting claims, providing supporting documents, and presenting their cases before the review committee.

India’s battery energy storage market might be gaining momentum, but sluggish project execution has exposed deeper questions around bankability, lifecycle costs, degradation risks, and market readiness. In an exclusive interview with Mercom India, Ayush Misra, Co-Founder at AmpereHour Energy, discusses why storage projects must be evaluated as sophisticated grid assets rather than simple battery procurement exercises, and how large-scale deployments can be made commercially viable.

New Delhi-based SAEL Industries broke ground on an integrated 5 GW TOPCon solar cell and 5 GW module manufacturing facility in Jewar, Uttar Pradesh, for an initial investment of ₹82 billion (~$867.4 million). The project will span 200 acres at Sector 8 of the Yamuna Expressway Industrial Development Authority in Gautam Buddha Nagar. The project is being developed through its wholly owned subsidiary, SAEL Solar P6.

Matrix Renewables, a renewable energy developer and independent power producer focused on solar and battery energy storage systems, closed construction-to-term loan financing, tax equity commitments, and refinancing for an 859 MW solar and 167 MWh battery energy storage portfolio in the U.S. The portfolio includes projects in California, Idaho, and Texas.

Renewable Energy Developer, Adani Green Energy, commissioned a 150 MW solar power project at Khavda in Gujarat through its wholly owned step-down subsidiary, Adani Renewable Energy Eight. Adani Green’s total operational renewable energy generation capacity has reached 19,985.8 MW with the commissioning of the project. The company also said its total operational battery energy storage capacity now stands at 3,366 MWh.

Power Grid Corporation of India commissioned a 3,500 MW transmission project to evacuate power from solar energy zones in Ananthapur and Kurnool in Andhra Pradesh. The transmission project was completed under the Transmission Scheme for Solar Energy Zone, and involved the installation of 2,500 MW in Ananthapur and 1,000 MW in Kurnool. The projects were commissioned on June 24, 2026.

Germany’s Federal Network Agency (Bundesnetzagentur) invited bids to set up 2.52 GW of onshore wind projects. Bids must be submitted by August 3, 2026. The ceiling tariff has been set as €0.0725 (~$0.083)/kWh. Bundesnetzagentur said the total tender volume for 2026 will be 10 GW, distributed evenly across four bidding dates. Projects must be approved under Germany’s Federal Immission Control Act by July 6, 2026.

Germany’s Bundesnetzagentur announced the winners of its 2.5 GW onshore wind auction. The winning tariffs ranged from €0.0444 (~$0.05)/kWh to €0.0519 (~$0.059)/kWh. The volume-weighted average winning bid stood at €0.0506 (~$0.058)/kWh. The largest capacity was awarded to Alterric Deutschland GmbH (Alterric), followed by WKN Windpark Beerfelde GmbH & Co. KG and BOREAS Energie GmbH (BOREAS Energy).

CrossBoundary Access, a company that finances and operates distributed renewable energy projects across Africa, secured a $10 million equity investment. The funding was provided by the International Finance Corporation, a member of the World Bank Group that focuses on private sector development in emerging markets.