RECPDCL Announces Winner of 4.5 GW Transmission Project

SAS, URECO Form US Joint Venture to Build 1 GW Solar Module Plant

PFC Consulting Tenders Two 765 kV Intrastate Transmission Projects in Rajasthan

Brookfield to Acquire Battery Storage Platform Aypa Power for $7 Billion

MNRE Issues Model Agreement for Electrolyzer as a Service

Sofab Inks Raises $6 Million to Scale Perovskite Solar Cell Materials

China’s Solar Capacity Tops 1.27 TW but Capacity Additions Drop 66% in 1H 2026

SECI Announces Winners of 4.4 MW Rooftop Solar Project Auction

Open Access Will Drive Large-Scale C&I Renewable Adoption: Interview

Tesla Q2 2026 Revenue Rises 26% on Record Deliveries, Misses Earning Estimates

Trina Solar (Luxembourg) Holdings, a subsidiary of solar module manufacturer and smart energy solutions provider Trina Solar, <a href="https://cms.mercomindia.com/trina-solar-secures-165-million-to-support-ipp-transition/" target="_blank" rel="noopener">secured</a> a €150 million (~$165 million) revolving credit facility provided by Banco Santander. The funding will support the company’s downstream division, Trina Solar International System Business Unit (‘ISBU’), which develops utility-scale solar power and battery storage projects. The financing will also support ISBU’s transition to an Independent Power Producer.
Resco Global Wind Services, the engineering, procurement, and construction arm of Inox Wind, has <a href="https://www.mercomindia.com/inox-epc-equity-sale" target="_blank" rel="noopener">raised</a> ₹3.5 billion (~$41.68 million) through an equity investment from prominent investors. In exchange for the funds, Resco issued securities to the participating investors, which included Valrado Venture Partners Fund II, Anchorage Capital Scheme I, JM Financial Products, Founders Collective Fund, One Up Financial Consultants, Authum Investments &amp; Infrastructure, and Capri Global Holdings.
Allegro Energy, a developer of aqueous-based redox flow battery energy storage solutions, has <a href="https://cms.mercomindia.com/flow-battery-developer-allegro-energy-secures-11-6-million/" target="_blank" rel="noopener">closed</a> A$17.5 million (~$11.6 million) in Series A funding. This funding round was led by global investment firm The Grantham Foundation and joined by Chicago-based early-stage tech investment firm Lightbank. Other investors participating in the round included Australia-based Origin Energy, Melt Ventures, and Impact Ventures.
Elum Energy, a provider of advanced energy management solutions for renewable energy systems, <a href="https://cms.mercomindia.com/elum-energy-raises-13-million-in-series-b-funding/" target="_blank" rel="noopener">secured</a> $13 Million in Series B funding. This round was led by Energize Capital and existing investors Alter Equity and Cota Capital. This funding will support the company’s plan to expand to the global market, including a U.S. launch. Elum Energy specializes in industrializing the monitoring and control of standard and hybrid solar PV projects.
Exergy3, a thermal energy-based energy storage system provider, <a href="https://cms.mercomindia.com/thermal-energy-storage-startup-exergy3-raises-1-3-million/" target="_blank" rel="noopener">secured</a> £1 million (~$1.3 million) in a pre-seed funding round. Zero Carbon Capital led this funding with participation from existing investors Old College Capital and Scottish Enterprise. According to the company, this funding will expand its team, strengthen its support in the thermal storage sector, and conduct market research. Exergy3 develops modular thermal energy storage systems that convert green electricity into heat and store it at temperatures up to 1300°C.
Automotive component manufacturer Samvardhana Motherson International, through its wholly-owned subsidiary MSSL Consolidated, is <a href="https://www.mercomindia.com/samvardhana-motherson-acquires-stake-in-israels-ree-automotive" target="_blank" rel="noopener">acquiring</a> up to 3.64 million Class A shares in Israel-based e-mobility company REE Automotive for $4.122 per share, resulting in a total investment of $15 million. The company has announced the purchase of an 11% stake on a fully diluted basis and up to 19% on a non-diluted basis in REE Automotive. The transaction is expected to be completed within 30 days.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-ma-roundup-battery-startup-wattalps-secures-12-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Trina Solar Secures $165 Million to Support IPP Transition

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/09/amazon_polly_70360.mp3?version=1726634266">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-trina-solar-secures-165-million-to-support-ipp-transition/" target="_blank" rel="noopener">Mercom Capital Group</a>
Trina Solar (Luxembourg) Holdings, a subsidiary of solar module manufacturer and smart energy solutions provider Trina Solar, <a href="https://mercomcapital.com/trina-solar-secures-165-million-to-support-ipp-transition/" target="_blank" rel="noopener">secured</a> a €150 million (~$165 million) revolving credit facility provided by Banco Santander. The funding will support the company’s downstream division, Trina Solar International System Business Unit (‘ISBU’), which develops utility-scale solar power and battery storage projects. The financing will also support ISBU’s transition to an Independent Power Producer.
Resco Global Wind Services, the engineering, procurement, and construction arm of Inox Wind, has <a href="https://www.mercomindia.com/inox-epc-equity-sale" target="_blank" rel="noopener">raised</a> ₹3.5 billion (~$41.68 million) through an equity investment from prominent investors. In exchange for the funds, Resco issued securities to the participating investors, which included Valrado Venture Partners Fund II, Anchorage Capital Scheme I, JM Financial Products, Founders Collective Fund, One Up Financial Consultants, Authum Investments &amp; Infrastructure, and Capri Global Holdings.
Allegro Energy, a developer of aqueous-based redox flow battery energy storage solutions, has <a href="https://mercomcapital.com/flow-battery-developer-allegro-energy-secures-11-6-million/" target="_blank" rel="noopener">closed</a> A$17.5 million (~$11.6 million) in Series A funding. This funding round was led by global investment firm The Grantham Foundation and joined by Chicago-based early-stage tech investment firm Lightbank. Other investors participating in the round included Australia-based Origin Energy, Melt Ventures, and Impact Ventures.
Elum Energy, a provider of advanced energy management solutions for renewable energy systems, secured $13 Million in Series B funding. This <a href="https://mercomcapital.com/elum-energy-raises-13-million-in-series-b-funding/" target="_blank" rel="noopener">round</a> was led by Energize Capital and existing investors Alter Equity and Cota Capital. This funding will support the company’s plan to expand to the global market, including a U.S. launch. Elum Energy specializes in industrializing the monitoring and control of standard and hybrid solar PV projects.
Exergy3, a thermal energy-based energy storage system provider, <a href="https://mercomcapital.com/thermal-energy-storage-startup-exergy3-raises-1-3-million/" target="_blank" rel="noopener">secured</a> £1 million (~$1.3 million) in a pre-seed funding round. Zero Carbon Capital led this funding with participation from existing investors Old College Capital and Scottish Enterprise. According to the company, this funding will expand its team, strengthen its support in the thermal storage sector, and conduct market research. Exergy3 develops modular thermal energy storage systems that convert green electricity into heat and store it at temperatures up to 1300°C.
Automotive component manufacturer Samvardhana Motherson International, through its wholly-owned subsidiary MSSL Consolidated, is <a href="https://www.mercomindia.com/samvardhana-motherson-acquires-stake-in-israels-ree-automotive" target="_blank" rel="noopener">acquiring</a> up to 3.64 million Class A shares in Israel-based e-mobility company REE Automotive for $4.122 per share, resulting in a total investment of $15 million. The company has announced the purchase of an 11% stake on a fully diluted basis and up to 19% on a non-diluted basis in REE Automotive. The transaction is expected to be completed within 30 days.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-24m-raises-87-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.allegro.energy/" target="_blank" rel="noopener">Allegro Energy</a>, a developer of aqueous-based redox flow battery energy storage solutions, has closed A$17.5 million (~$11.6 million) in Series A funding.
This funding round was led by global investment firm The Grantham Foundation and joined by Chicago-based early-stage tech investment firm Lightbank. Other investors participating in the round included Australia-based Origin Energy, Melt Ventures, and Impact Ventures.
Dr. Thomas Nann, co-founder and CEO, stated that the funds will accelerate the company&#8217;s expansion of manufacturing capabilities. Allegro focuses on water-based Redox Flow Batteries (RFB) and supercapacitors powered by the company’s proprietary microemulsion electrolyte.
“Renewable energy storage is undoubtedly a huge challenge in the energy transition. Adopting Allegro Energy technology will be critical to solving this challenge,” said Trent Bagnall, managing partner at Melt Ventures.
Integrated Power Generator and Retailer Origin Energy acquired a 5% stake in the company last year. The agreement provided options for Origin to support Allegro throughout its growth and development. Once an initial pilot 100 kW (800 kWh) Redox Flow Battery module is deployed at Eraring, a 5 MW (60 MWh) battery is planned, which is expected to provide 12 hours of energy storage capacity. The pilot project is expected to be completed later this year.
According to Mercom’s recently released 1H and Q2 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-q2-2024-funding-ma-report-storage-grid/" target="_blank" rel="noopener">report</a> for Energy Storage and Smart Grid, VC funding for Energy Storage companies in 1H 2024 came to $2.4 billion in 48 deals, a 37% decrease year-over-year compared to $3.8 billion in 43 deals in 1H 2023.
Early this year, AQUABATTERY, a Dutch startup specializing in developing saltwater long-duration energy storage solutions, <a href="https://cms.mercomindia.com/flow-battery-startup-aquabattery-secures-million/" target="_blank" rel="noopener">secured</a> a €6 million (~$6.4 million) seed investment led by EIT InnoEnergy and supported by InnovationQuarter, Invest-NL, Init Power, and a group of business angels.

Flow Battery Developer Allegro Energy Secures $11.6 Million

allegro-energy

Get the most relevant India solar and clean energy news.

RECENT POSTS