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

Solar Module Capacity Under ALMM Grows to 215.5 GW

PFC Awards Project to Evacuate 3 GW of Renewables in Andhra Pradesh

Storage, Engineering, and Service Become Distributed Solar’s Growth Drivers

Daily News Wrap-Up: MNRE Proposes Uniform Solar Cell Nomenclature

MENA Weekly Round-Up: Egypt Signs PPA with Alcazar for 407 MW Wind Project

Solar Tender and Auction Activity Declines in Q2 2026

MNRE Proposes Standardized Nomenclature for Solar Cells Under ALMM List II

India Can Build a Complete Solar Manufacturing Ecosystem Within Five Years: Interview

Green Hydrogen and Storage Key to Curbing Renewables Curtailment: Interview

Energy Solutions Group, an independent power producer specializing in renewable energy, <a href="https://cms.mercomindia.com/renewables-firm-energy-solutions-group-financing/" target="_blank" rel="noopener">announced</a> the closing of a €125 million (~$139 million) investment provided by Infranity, a leading infrastructure investment and asset management firm. The investment comprises a €75 million (~$83 million) capital increase and a €50 million (~$55.5 million) secondary transaction involving existing shares. This funding round follows a previous capital injection secured in December 2024.
Affiliated Managers Group, an investment management firm, announced that it has entered into a definitive agreement to <a href="https://cms.mercomindia.com/amg-to-acquire-minority-stake-qualitas-energy/" target="_blank" rel="noopener">acquire</a> a minority equity stake in Qualitas Energy, an investment firm focused on renewable energy, the energy transition, and sustainable infrastructure. Under the terms of the deal, the Qualitas Energy management team will retain majority ownership and continue to lead the company’s day-to-day operations, including all investment, strategic, and operational decisions.
Upvolt, a provider of solar energy solutions, has <a href="https://cms.mercomindia.com/upvolt-acquires-solar-heating-company-ohm-energy/" target="_blank" rel="noopener">announced</a> the acquisition of OHM Energy, a provider of solar, heating, and electrification systems for homes, businesses, and public-sector organizations. This acquisition brings new expertise to Upvolt, enhancing its capabilities in the renewable energy sector. Through this acquisition, Upvolt is expected to offer fully integrated energy systems across both residential and commercial sectors.
Spanish infrastructure investor Asterion Industrial Partners has <a href="https://www.asterionindustrial.com/asterion-industrial-partners-joins-revalue-energies-to-accelerate-its-growth-and-become-a-leading-independent-power-producer-in-italy/" target="_blank" rel="noopener">acquired</a> a stake in Revalue Energies, an Italian renewables developer, to support its expansion as an independent power producer (IPP). Revalue Energies is stated to be developing 2.7 GW of solar, wind, and storage assets. Also, in the coming 12 months, the company is expected to complete the construction of around 40 MW of projects that were awarded at the FER auction and enjoy a 20-year tariff.
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-recurrent-energy-secures-415-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Energy Solutions Group Secures $139 Million

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-energy-solutions-secures-funding/" target="_blank" rel="noopener">Mercom Capital Group</a>
Energy Solutions Group, an independent power producer specializing in renewable energy, <a href="https://mercomcapital.com/renewables-firm-energy-solutions-group-financing/" target="_blank" rel="noopener">announced</a> the closing of a €125 million (~$139 million) investment provided by Infranity, a leading infrastructure investment and asset management firm. The investment comprises a €75 million (~$83 million) capital increase and a €50 million (~$55.5 million) secondary transaction involving existing shares. This funding round follows a previous capital injection secured in December 2024.
Affiliated Managers Group, an investment management firm, announced that it has entered into a definitive agreement to <a href="https://mercomcapital.com/amg-to-acquire-minority-stake-qualitas-energy/" target="_blank" rel="noopener">acquire</a> a minority equity stake in Qualitas Energy, an investment firm focused on renewable energy, the energy transition, and sustainable infrastructure. Under the terms of the deal, the Qualitas Energy management team will retain majority ownership and continue to lead the company’s day-to-day operations, including all investment, strategic, and operational decisions.
Upvolt, a provider of solar energy solutions, has <a href="https://mercomcapital.com/upvolt-acquires-solar-heating-company-ohm-energy/" target="_blank" rel="noopener">announced</a> the acquisition of OHM Energy, a provider of solar, heating, and electrification systems for homes, businesses, and public-sector organizations. This acquisition brings new expertise to Upvolt, enhancing its capabilities in the renewable energy sector. Through this acquisition, Upvolt is expected to offer fully integrated energy systems across both residential and commercial sectors.
Spanish infrastructure investor Asterion Industrial Partners has <a href="https://www.asterionindustrial.com/asterion-industrial-partners-joins-revalue-energies-to-accelerate-its-growth-and-become-a-leading-independent-power-producer-in-italy/" target="_blank" rel="noopener">acquired</a> a stake in Revalue Energies, an Italian renewables developer, to support its expansion as an independent power producer (IPP). Revalue Energies is stated to be developing 2.7 GW of solar, wind, and storage assets. Also, in the coming 12 months, the company is expected to complete the construction of around 40 MW of projects that were awarded at the FER auction and enjoy a 20-year tariff.
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’s funding <a href="https://mercomcapital.com/funding-ma-roundup-recurrent-energy-secures-415-million/" target="_blank" rel="noopener">roundup</a>.

Affiliated Managers Group (<a href="https://www.amg.com/" target="_blank" rel="noopener">AMG</a>), an investment management firm, announced that it has entered into a definitive agreement to acquire a minority equity stake in <a href="https://qualitasenergy.com/en/" target="_blank" rel="noopener">Qualitas Energy</a>,  an investment firm focused on renewable energy, the energy transition, and sustainable infrastructure.
Under the terms of the deal, the Qualitas Energy management team will retain majority ownership and continue to lead the company&#8217;s day-to-day operations, including all investment, strategic, and operational decisions.
As part of the transaction, Qualitas Energy&#8217;s Executive Chairman, Iñigo Olaguíbel, and CEO, Oscar Pérez, along with other members of the senior management team, will enter into additional long-term commitments with the firm.
“Given the increasing focus on energy independence and security in Europe, along with the firm&#8217;s distinctive approach, vertically integrated industrial platform, and locally based teams with deep knowledge of their respective geographies, Qualitas Energy is well-positioned to build on its business momentum. I am delighted to welcome Iñigo, Oscar, and their partners to our Affiliate group,&#8221; said Jay C. Horgen, President and Chief Executive Officer of AMG.
The terms of the transaction remained undisclosed. The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions.
Founded in 2006, Qualitas Energy has a strong focus on European markets. The firm has raised approximately €5 billion (~$5.5 billion) across six funds and co-investment opportunities. This capital is stated to have been deployed across a diverse range of clean energy sectors, including solar, wind, battery storage, hydroelectric power, and renewable natural gas.
Campbell Lutyens and J.P. Morgan acted as financial advisors to Qualitas Energy.
According to Mercom&#8217;s  Q1 2025 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/q1-2025-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, a total of 19 solar corporate M&amp;A transactions were recorded in Q1 2025, compared to 20 transactions in Q4 2024, and 10% lower compared to 21 solar M&amp;A transactions in Q1 2024.
Last week, Macquarie Asset Management, a global asset manager, via its managed funds, <a href="https://mercomcapital.com/macquarie-asset-management-acquires-island-green-power/" target="_blank" rel="noopener">acquired</a> the remaining 50% stake in a U.K.-based renewable energy developer, Island Green Power.

AMG to Acquire Minority Stake in Qualitas Energy

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