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

Octopus Australia, a renewable energy project developer and fund manager, has <a href="https://cms.mercomindia.com/octopus-australia-secures-financing-for-80-mw-fulham-solar-and-storage-project/" target="_blank" rel="noopener">reached</a> financial close on the 80 MW Fulham Solar Project and its co-located 128 MWh battery energy storage system, with a total value exceeding AUD300 million (~$180.5 million). The company announced that construction of the project is now underway. A power purchase agreement from the Victorian State Government backs the project.
Apex Clean Energy, a renewable energy project developer, <a href="https://cms.mercomindia.com/apex-clean-energy-sells-49-stakes-in-solar-and-wind-project/" target="_blank" rel="noopener">entered</a> into an agreement with Electricity Generating Public Company to sell its 49% ownership interest in the Pinnacle II project portfolio, which consists of two projects totaling 251 MW in the U.S. Apex will retain the remaining shares and manage the portfolio operations. The portfolio comprises the 125 MWac Wheatsborough solar project in Ohio and the 126 MW Downeast wind project in Maine.
JUWI Energie Rinnovabili, the Italian subsidiary of international project developer JUWI Group, <a href="https://cms.mercomindia.com/juwi-energie-rinnovabili-sells-50-5-mw-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the sale of a 50.5 MW solar project portfolio to Kelag Italia, a subsidiary of Kelag Group, an Austrian renewable energy provider. The portfolio comprises eight authorized and ready-to-build solar projects located in Northern Italy. The company did not disclose the financial details of the transaction.
Sunraycer Renewables, a developer, owner, and operator of clean energy power sites, <a href="https://cms.mercomindia.com/sunraycer-secures-475-million-financing-for-solar-plus-storage-projects/" target="_blank" rel="noopener">secured</a> a $475 million project financing facility from MUFG Bank, Nomura Securities International, and Norddeutsche Landesbank Girzonentrale for the development and construction of Gaia and Midpoint solar and battery energy storage projects in Texas. The two projects include the 143 MWac Gaia solar project with a 75 MWac battery storage system in Navarro County and the 97.5 MWac Midpoint solar project coupled with a 50 MWac battery energy storage system in Hill County.
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-potentia-energy-acquires-renewable-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Octopus Secures Financing for 80 MW Solar and Storage Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-octopus-financing-solar-storage/" target="_blank" rel="noopener">Mercom Capital Group</a>
Octopus Australia, a renewable energy project developer and fund manager, has <a href="https://mercomcapital.com/octopus-australia-secures-financing-for-80-mw-fulham-solar-and-storage-project/" target="_blank" rel="noopener">reached</a> financial close on the 80 MW Fulham Solar Project and its co-located 128 MWh battery energy storage system, with a total value exceeding AUD300 million (~$180.5 million). The company announced that construction of the project is now underway. A power purchase agreement from the Victorian State Government backs the project.
Apex Clean Energy, a renewable energy project developer, <a href="https://mercomcapital.com/apex-clean-energy-sells-49-stakes-in-solar-and-wind-project/" target="_blank" rel="noopener">entered</a> into an agreement with Electricity Generating Public Company to sell its 49% ownership interest in the Pinnacle II project portfolio, which consists of two projects totaling 251 MW in the U.S. Apex will retain the remaining shares and manage the portfolio operations. The portfolio comprises the 125 MWac Wheatsborough solar project in Ohio and the 126 MW Downeast wind project in Maine.
JUWI Energie Rinnovabili, the Italian subsidiary of international project developer JUWI Group, <a href="https://mercomcapital.com/juwi-energie-rinnovabili-sells-50-5-mw-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the sale of a 50.5 MW solar project portfolio to Kelag Italia, a subsidiary of Kelag Group, an Austrian renewable energy provider. The portfolio comprises eight authorized and ready-to-build solar projects located in Northern Italy. The company did not disclose the financial details of the transaction.
Sunraycer Renewables, a developer, owner, and operator of clean energy power sites, <a href="https://mercomcapital.com/sunraycer-secures-475-million-financing-for-solar-plus-storage-projects/" target="_blank" rel="noopener">secured</a> a $475 million project financing facility from MUFG Bank, Nomura Securities International, and Norddeutsche Landesbank Girzonentrale for the development and construction of Gaia and Midpoint solar and battery energy storage projects in Texas. The two projects include the 143 MWac Gaia solar project with a 75 MWac battery storage system in Navarro County and the 97.5 MWac Midpoint solar project coupled with a 50 MWac battery energy storage system in Hill County.
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-potentia-energy-acquires-renewable-projects/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.apexcleanenergy.com/" target="_blank" rel="noopener">Apex Clean Energy</a>, a renewable energy project developer, entered into an agreement with Electricity Generating Public Company Limited (EGCO Group) to sell its 49% ownership interest in the Pinnacle II project portfolio, which consists of two projects totaling 251 MW in the U.S.
Apex will retain the remaining shares and manage the portfolio operations.
The portfolio comprises the 125 MWac Wheatsborough solar project in Ohio and the 126 MW Downeast wind project in Maine.
Both projects are currently in the final stages of construction and are expected to begin commercial operation in 2025.
The company has not disclosed the financial details of the transaction, which is expected to close in the second quarter of this year and is subject to several conditions.
&#8220;In today&#8217;s energy landscape, transactions like this collaboration with EGCO Group demonstrate the enduring value of bringing well-structured projects to completion,&#8221; said Ken Young, CEO of Apex. &#8220;As our second major capital recycling transaction, this partnership will enable Apex to further invest in our best-in-class portfolio of wind, solar, and storage projects across the country.&#8221;
According to the company, the projects are expected to create 350 jobs during construction and are anticipated to contribute $55 million in local tax revenue during their lifetimes.
According to Mercom&#8217;s Annual and Q4 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.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 week, AIP Management, a Nordic-based investment manager in diversified decarbonization infrastructure, agreed to <a href="https://cms.mercomindia.com/aip-management-to-acquire-49-99-stake-in-solar-and-storage-project/" target="_blank" rel="noopener">acquire</a> 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.

Apex Clean Energy Sells 49% Stakes in Solar and Wind Project

Catalyze, a solar and energy storage project developer, <a href="https://cms.mercomindia.com/catalyze-secures-100-million-financing-for-community-solar-projects/" target="_blank" rel="noopener">secured</a> $100 million in financing from NY Green Bank, a division of the New York State Energy Research and Development Authority  for the development of a 79 MW portfolio of community distributed generation solar projects across New York State.
RWE Clean Energy, a renewable energy project developer, <a href="https://cms.mercomindia.com/rwe-acquires-solar-energy-storage-projects/" target="_blank" rel="noopener">announced</a> the acquisition of 599 MW solar and energy storage projects from Galehead Development, a solar, wind, and energy storage project developer in the U.S. The projects being acquired include two development-stage projects located within PacifiCorp’s operating territory in the Pacific Northwest and a mid-stage development asset in northeastern New York.
Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investing, <a href="https://cms.mercomindia.com/mirova-acquires-solar-and-energy-storage-project-portfolio-in-spain/" target="_blank" rel="noopener">signed</a> an agreement for the acquisition of solar and energy storage projects in Spain from Q-Impact and Qualitas Energy. The portfolio consists of two solar projects with a total capacity of 60 MW and an energy storage project with a total capacity of 30 MW/ 120 MWh. The projects are in the municipality of Mahon in Menorca Island, Spain.
Apex Clean Energy, a renewable energy project developer, <a href="https://cms.mercomindia.com/apex-clean-energy-secures-funding-energy-storage-projects/" target="_blank" rel="noopener">secured</a> more than $150 million in project financing for two energy storage projects in Texas. First Citizens Bank Energy and Bank United served as co-lead arranger of financings. Both projects are expected to reach commercial operation by the third quarter of 2024. Bank United also served as co-lead arranger of the financing.
Photon Energy, a solar project developer, <a href="https://cms.mercomindia.com/photon-energy-secures-16-million-multi-tranche-project-funding/" target="_blank" rel="noopener">secured</a> €15 million (~$16.24 million) senior secured loan from the European Bank for Reconstruction and Development to develop a 29 MW solar project portfolio in Romania. The portfolio consists of six solar projects.
Enfinity Global, a renewable energy project developer, has <a href="https://www.mercomindia.com/enfinity-solar-wind-projects-india" target="_blank" rel="noopener">announced</a> financing worth $135 million from the Canada Pension Plan Investment Board to fund the development and construction of 1.2 GW of solar and wind power projects across five states in India. The projects, located in Maharashtra, Delhi, Karnataka, Rajasthan, and Uttar Pradesh, are in advanced development stages and are projected to be commissioned and connected to the grid between 2025 and 2026.
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-brightnight-secure-solar-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Catalyze Secures $100 Million for Community Solar Projects

<a href="https://www.apexcleanenergy.com/" target="_blank" rel="noopener">Apex Clean Energy</a>, a renewable energy project developer, secured more than $150 million in project financing for two energy storage projects in Texas with First Citizens Bank Energy Finance business and Bank United serving as co-lead arranger of financings.
The two projects include Great Kiskadee Storage, which is a 100 MW/200 MWh battery energy storage project owned by SA Grid Solutions (a joint venture of Apex, SK Gas, and SK Eternix) and is currently under construction in Hidalgo County, Texas.
The other facility, Angelo Storage, is a 100 MW/200 MWh battery energy storage project in Tom Green County, Texas, under construction. Both projects are expected to reach commercial operation by the third quarter of 2024. Bank United also served as co-lead arranger of the financings.
“Battery storage is crucial to building a more resilient grid and enhancing the reliability and cost-effectiveness of renewable energy—ultimately enabling our mission to accelerate the shift to clean energy,” said Ken Young, Apex Clean Energy CEO. “We greatly appreciated the industry knowledge and expertise of the First Citizens Energy Finance team in helping arrange these financings.”
First Citizens Bank Energy Finance business served as the sole bookrunner for the transaction.
“Apex Clean Energy has a strong and growing reputation throughout the renewable energy industry for identifying attractive clean energy project opportunities and managing them to successful completion,” said Mike Lorusso, managing director and group head for First Citizens Energy Finance. “It was a pleasure to work with them on this financing and we look forward to further opportunities to collaborate in the future.”
According to Mercom’s Q1 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2024-funding-ma-report-storage-grid/" target="_blank" rel="noopener">report</a> for Storage and Smart Grid, energy storage project funding increased 65% YoY, coming in at $3.3 billion in nine deals in Q1 2024 compared to $2 billion raised in nine project funding announcements in Q1 2023.
WElink Group, a developer of PV Solar, Wind, BESS, and hybrid clean energy projects in Europe, <a href="https://cms.mercomindia.com/welink-group-secures-financing-for-1-6-gw-energy-storage-portfolio/" target="_blank" rel="noopener">secured</a> a €20 million (~$21.57 million) borrowing base facility for a 1.6 GW pre-ready-to-build (RTB) energy storage-systems portfolio in Italy.

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