SECI Seeks Trading Partner to Sell Renewable Energy

PM Surya Ghar Powers 5 Million Homes, Total Capacity Hits 15 GW

Nextpower Raises Guidance for FY 2027 on Strong Q1 Performance

Avantus Closes $1 Billion Credit Facility to Expand Project Portfolio

Tandem PV Acquires nexTC to Bring Thin-Film Coating Technology In-House

Base Power Raises $1 Billion in Series D Funding Round

TotalEnergies Acquires Shell’s 4 GW European Renewables Portfolio

CERC Rescinds Revocation of Renewable Projects’ Grid Connectivity

Month in a Minute: Top Headlines from the Indian Renewable Sector in July 2026

Solar Module Capacity Under ALMM Grows to 215.5 GW

DRI, an Amsterdam-based renewable energy company and a subsidiary of the DTEK Group, <a href="https://cms.mercomindia.com/dri-acquires-112-mw-448-mwh-battery-storage-project-in-poland/" target="_blank" rel="noopener">announced</a> the acquisition of rights to build a 112 MW/448 MWh battery energy storage system from Greenvolt Group, a renewable energy project developer. The project, located in Kozienice, in the east-central part of Poland, was acquired through Greenvolt Power, a developer of utility-scale solar, wind, and energy storage projects.
Soltage, an independent utility-scale solar and energy storage power producer, <a href="https://cms.mercomindia.com/soltage-raises-525-million-for-storage-and-solar-projects/" target="_blank" rel="noopener">closed</a> a $525 million tax credit investment agreement. The financing will provide the company with stable, long-term capital to continue developing, constructing, and operating its over 2 GW of solar and battery energy storage projects. The financing includes the purchase of investment tax credits over a two-year period.
Oyster Green Hybrid Three, a subsidiary of Oyster Renewable Energy, has <a href="https://www.mercomindia.com/oyster-secures-%E2%82%B918-billion-loan-for-342-mw-hybrid-project" target="_blank" rel="noopener">achieved</a> financial closure for its 342 MW wind-solar hybrid project in Madhya Pradesh, securing a loan of ₹18.44 billion (~$207.71 million) from the Union Bank of India with a tenure of approximately 20 years.
France-based diversified multinational energy company TotalEnergies is <a href="https://www.mercomindia.com/totalenergies-to-divest-50-of-its-1-4-gw-solar-portfolio-in-north-america" target="_blank" rel="noopener">selling</a> 50% of its 1.4 GW solar portfolio in North America to global investment firm KKR for an enterprise value of $1.25 billion. It has signed an agreement with KKR and insurance vehicles for the sale.
India-based renewable energy solutions provider KPI Green Energy has <a href="https://www.mercomindia.com/kpi-green-secures-%E2%82%B932-billion-loan-from-sbi-for-1-gw-renewable-energy-projects" target="_blank" rel="noopener">secured</a> approval from State Bank of India for a ₹32 billion (~$360.77 million) loan for its solar and hybrid independent power producer projects in Gujarat. The approval comprises both fund-based and non-fund-based facilities to part-finance the development of its 250 MW solar project and 370 MW hybrid project, comprising 557 MWp of solar and 124.2 MW of wind, in Gujarat.
Renewable energy company Hero Future Energies (HFE) has <a href="https://www.mercomindia.com/hero-future-gets-%E2%82%B910-billion-funding-from-sbi-for-60-mw-hybrid-power-project" target="_blank" rel="noopener">secured</a> ₹10.24 billion (~$115.43 million) in funding from the State Bank of India (SBI) to finance a 60 MW hybrid project in Andhra Pradesh. The project, which combines solar, wind, and storage and is contracted with the Solar Energy Corporation of India (SECI), is being built in the Kurnool district. Funding was secured through the company’s special purpose vehicle, Clean Solar Power Barmer.
AIP Management, an investor in energy and decarbonization infrastructure, has <a href="https://cms.mercomindia.com/aip-management-to-acquire-49-stake-in-battery-storage-portfolio/" target="_blank" rel="noopener">agreed</a> to acquire a 49% equity stake in a U.K.-based battery energy storage system portfolio with a combined capacity of 700 MW and 3.5-hour duration from BW ESS, an energy storage project developer, owner, and operator.
Sonnedix, an independent solar power producer, <a href="https://cms.mercomindia.com/sonnedix-acquires-226-mw-of-solar-projects-in-italy/" target="_blank" rel="noopener">acquired</a> a portfolio of utility-scale solar projects with a combined capacity of 226 MW from Capital Dynamics, an independent private asset management firm. The portfolio comprises five subsidy-free solar projects located across Lazio and Sicily in Italy and is backed by long-term Pay-as-Produced power purchase agreements. Four of the five projects in the portfolio are operational.
Click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week&#8217;s project finance <a href="https://cms.mercomindia.com/project-finance-brief-flatiron-energy-storage-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: DRI Acquires 112 MW/448 MWh Battery Storage Project in Poland

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-dri-acquires-battery-storage-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
DRI, an Amsterdam-based renewable energy company and a subsidiary of the DTEK Group, <a href="https://mercomcapital.com/dri-acquires-112-mw-448-mwh-battery-storage-project-in-poland/" target="_blank" rel="noopener">announced</a> the acquisition of rights to build a 112 MW/448 MWh battery energy storage system from Greenvolt Group, a renewable energy project developer. The project, located in Kozienice, in the east-central part of Poland, was acquired through Greenvolt Power, a developer of utility-scale solar, wind, and energy storage projects.
Soltage, an independent utility-scale solar and energy storage power producer, <a href="https://mercomcapital.com/soltage-raises-525-million-for-storage-and-solar-projects/" target="_blank" rel="noopener">closed</a> a $525 million tax credit investment agreement. The financing will provide the company with stable, long-term capital to continue developing, constructing, and operating its over 2 GW of solar and battery energy storage projects. The financing includes the purchase of investment tax credits over a two-year period.
Oyster Green Hybrid Three, a subsidiary of Oyster Renewable Energy, has <a href="https://www.mercomindia.com/oyster-secures-%E2%82%B918-billion-loan-for-342-mw-hybrid-project" target="_blank" rel="noopener">achieved</a> financial closure for its 342 MW wind-solar hybrid project in Madhya Pradesh, securing a loan of ₹18.44 billion (~$207.71 million) from the Union Bank of India with a tenure of approximately 20 years.
France-based diversified multinational energy company TotalEnergies is <a href="https://www.mercomindia.com/totalenergies-to-divest-50-of-its-1-4-gw-solar-portfolio-in-north-america" target="_blank" rel="noopener">selling</a> 50% of its 1.4 GW solar portfolio in North America to global investment firm KKR for an enterprise value of $1.25 billion. It has signed an agreement with KKR and insurance vehicles for the sale.
India-based renewable energy solutions provider KPI Green Energy has <a href="https://www.mercomindia.com/kpi-green-secures-%E2%82%B932-billion-loan-from-sbi-for-1-gw-renewable-energy-projects" target="_blank" rel="noopener">secured</a> approval from State Bank of India for a ₹32 billion (~$360.77 million) loan for its solar and hybrid independent power producer projects in Gujarat. The approval comprises both fund-based and non-fund-based facilities to part-finance the development of its 250 MW solar project and 370 MW hybrid project, comprising 557 MWp of solar and 124.2 MW of wind, in Gujarat.
Renewable energy company Hero Future Energies (HFE) has <a href="https://www.mercomindia.com/hero-future-gets-%E2%82%B910-billion-funding-from-sbi-for-60-mw-hybrid-power-project" target="_blank" rel="noopener">secured</a> ₹10.24 billion (~$115.43 million) in funding from the State Bank of India (SBI) to finance a 60 MW hybrid project in Andhra Pradesh. The project, which combines solar, wind, and storage and is contracted with the Solar Energy Corporation of India (SECI), is being built in the Kurnool district. Funding was secured through the company’s special purpose vehicle, Clean Solar Power Barmer.
AIP Management, an investor in energy and decarbonization infrastructure, has <a href="https://mercomcapital.com/aip-management-to-acquire-49-stake-in-battery-storage-portfolio/" target="_blank" rel="noopener">agreed</a> to acquire a 49% equity stake in a U.K.-based battery energy storage system portfolio with a combined capacity of 700 MW and 3.5-hour duration from BW ESS, an energy storage project developer, owner, and operator.
Sonnedix, an independent solar power producer, <a href="https://mercomcapital.com/sonnedix-acquires-226-mw-of-solar-projects-in-italy/" target="_blank" rel="noopener">acquired</a> a portfolio of utility-scale solar projects with a combined capacity of 226 MW from Capital Dynamics, an independent private asset management firm. The portfolio comprises five subsidy-free solar projects located across Lazio and Sicily in Italy and is backed by long-term Pay-as-Produced power purchase agreements. Four of the five projects in the portfolio are operational.
Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-flatiron-energy-storage-project/" target="_blank" rel="noopener">brief</a>.

Potentia Energy, a renewable energy developer co-owned by Enel Green Power and INPEX, <a href="https://cms.mercomindia.com/potentia-energy-acquires-over-1-gw-of-renewable-energy-projects/" target="_blank" rel="noopener">completed</a> the acquisition of controlling stakes in a renewable energy portfolio exceeding 1 GW across Australia. The assets were acquired from infrastructure investor CVC DIF and superannuation fund Cbus Super. The acquisition also includes shares in Bright Energy Investments, a joint venture with Synergy, owned by the Western Australian state government.
AIP Management, a Nordic-based investment manager in diversified decarbonization infrastructure, <a href="https://cms.mercomindia.com/aip-management-to-acquire-49-99-stake-in-solar-and-storage-project/" target="_blank" rel="noopener">agreed</a> to acquire a 49.99% equity stake in the 300 MW solar with a co-located 200 MW/400 MWh battery energy storage Pine Forest project from Clearway Energy Group, a utility-scale renewable energy and storage project developer. The project is in the ERCOT North market region in Texas. The total investment is approximately $200 million. The project is currently under construction and is expected to commence operations in the fourth quarter of 2025.
Greenalia, a renewable energy project developer, has <a href="https://cms.mercomindia.com/greenalia-secures-financing-misae-ii-solar-project/" target="_blank" rel="noopener">secured</a> a $295 million construction-to-term loan and $93 million letter of credit facility from Mitsubishi UFJ Financial Group and Nomura Securities International for developing the 430 MWdc/331.6 MWac Misae II solar project in Texas. The project has completed 72% of its construction, with commercial operations expected to begin in the third quarter of 2025.
Electricity and heat producer and supplier PGE Energia Ciepła, a PGE Group unit, <a href="https://cms.mercomindia.com/pge-energia-ciepla-secures-13-m-financing-solar-projects/" target="_blank" rel="noopener">secured</a> PLN 48.7 million (~$12.61 million) in the form of a preferential loan from the National Fund for Environmental Protection and Water Management for the construction of seven solar projects with a cumulative capacity of 10.54 MW. The projects are to be built at the company’s six combined heat and power projects in Rzeszów, Kielce, Lublin, Zgierz, Bydgoszcz, and Gorzów Wielkopolski in Poland.
India-based ACME Solar Holdings <a href="https://www.mercomindia.com/acme-solar-secures-%E2%82%B924-91-billion-refinancing-to-cut-debt-costs" target="_blank" rel="noopener">secured</a> a ₹24.91 billion (~$298.92 million) long-term refinancing facility for 18 to 20 years from the State Bank of India and REC at a reduced weighted average interest rate of 8.8%. ACME Solar will use the funds to reduce debt costs for its 490 MW renewable energy projects in Andhra Pradesh, Rajasthan, and Punjab.
Click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week&#8217;s project finance <a href="https://cms.mercomindia.com/project-finance-brief-renewable-power-capital-solar-wind-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Potentia Energy Acquires 1 GW of Renewable Energy Projects

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-potentia-energy-acquires-renewable-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
Potentia Energy, a renewable energy developer co-owned by Enel Green Power and INPEX, <a href="https://mercomcapital.com/potentia-energy-acquires-over-1-gw-of-renewable-energy-projects/" target="_blank" rel="noopener">completed</a> the acquisition of controlling stakes in a renewable energy portfolio exceeding 1 GW across Australia. The assets were acquired from infrastructure investor CVC DIF and superannuation fund Cbus Super. The acquisition also includes shares in Bright Energy Investments, a joint venture with Synergy, owned by the Western Australian state government.
AIP Management, a Nordic-based investment manager in diversified decarbonization infrastructure, <a href="https://mercomcapital.com/aip-management-to-acquire-49-99-stake-in-solar-and-storage-project/" target="_blank" rel="noopener">agreed</a> to acquire a 49.99% equity stake in the 300 MW solar with a co-located 200 MW/400 MWh battery energy storage Pine Forest project from Clearway Energy Group, a utility-scale renewable energy and storage project developer. The project is in the ERCOT North market region in Texas. The total investment is approximately $200 million. The project is currently under construction and is expected to commence operations in the fourth quarter of 2025.
Greenalia, a renewable energy project developer, has <a href="https://mercomcapital.com/greenalia-secures-financing-misae-ii-solar-project/" target="_blank" rel="noopener">secured</a> a $295 million construction-to-term loan and $93 million letter of credit facility from Mitsubishi UFJ Financial Group and Nomura Securities International for developing the 430 MWdc/331.6 MWac Misae II solar project in Texas. The project has completed 72% of its construction, with commercial operations expected to begin in the third quarter of 2025.
Electricity and heat producer and supplier PGE Energia Ciepła, a PGE Group unit, <a href="https://mercomcapital.com/pge-energia-ciepla-secures-13-m-financing-solar-projects/" target="_blank" rel="noopener">secured</a> PLN 48.7 million (~$12.61 million) in the form of a preferential loan from the National Fund for Environmental Protection and Water Management for the construction of seven solar projects with a cumulative capacity of 10.54 MW. The projects are to be built at the company’s six combined heat and power projects in Rzeszów, Kielce, Lublin, Zgierz, Bydgoszcz, and Gorzów Wielkopolski in Poland.
India-based ACME Solar Holdings <a href="https://www.mercomindia.com/acme-solar-secures-%E2%82%B924-91-billion-refinancing-to-cut-debt-costs" target="_blank" rel="noopener">secured</a> a ₹24.91 billion (~$298.92 million) long-term refinancing facility for 18 to 20 years from the State Bank of India and REC at a reduced weighted average interest rate of 8.8%. ACME Solar will use the funds to reduce debt costs for its 490 MW renewable energy projects in Andhra Pradesh, Rajasthan, and Punjab.
Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.
Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-renewable-power-capital-solar-wind-projects/" target="_blank" rel="noopener">brief</a>.

<a href="https://aipmanagement.dk/" target="_blank" rel="noopener">AIP Management</a>, a Nordic-based investment manager in diversified decarbonization infrastructure, has agreed to acquire a 49.99% equity stake in the 300 MW solar with a co-located 200 MW/400 MWh battery energy storage Pine Forest project from Clearway Energy Group, a utility-scale renewable energy and storage project developer. The project is located in Texas.
The total investment is approximately $200 million. The project is strategically located in the ERCOT North market region.
The project is currently under construction and is expected to commence operations in the fourth quarter of 2025.
Clearway Energy will retain a 50.01% equity stake in the project. The electricity produced will be fully contracted through long-term virtual power purchase agreements with corporate off-takers.
The transaction is expected to close in the late second quarter of 2025.
This acquisition follows AIP&#8217;s collaboration with Clearway on Victory Pass &amp; Arica, a co-located solar and battery energy storage project in California, which was signed in 2022.
&#8220;Pine Forest represents a compelling investment, combining long-term contracted solar revenue with merchant battery storage exposure,&#8221; said Domenico Tripodi, Partner and Co-head of Investments of AIP. &#8220;A repeat partnership with Clearway, in a project with strong counterparties and diversified revenue streams, aligns with our strategy to invest in infrastructure that supports the decarbonization of energy systems while offering good, risk-adjusted returns.&#8221;
Last year, in October, AIP made an offer to acquire a minority stake in VALOREM, a French independent power producer.
According to Mercom&#8217;s Annual and Q4 2024 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">Report</a>, 217 large-scale solar project acquisitions totaling 37.7 GW were transacted in 2024, compared to 231 transactions totaling 45.4 GW in 2023.
Last month, Masdar (Abu Dhabi Future Energy Company PJSC), a UAE-based renewable energy project developer, <a href="https://mercomcapital.com/masdar-to-acquire-49-99-stake-in-four-solar-projects-in-spain/" target="_blank" rel="noopener">announced</a> the signing of an agreement with Endesa, a Spanish multinational electric utility company, to acquire a 49.99% stake in four solar projects totaling 446 MW in Spain.

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