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

Talga Group, a battery materials company, <a href="https://cms.mercomindia.com/battery-materials-company-talga-group-from-eib/" target="_blank" rel="noopener">announced</a> that it has received approval from the European Investment Bank for €150 million (~$164 million) in senior debt funding to support its Vittangi Anode Project in Sweden. The Vittangi Anode Project will produce high-quality anode materials for lithium-ion batteries using 100% renewable electricity from a mine and anode refinery in northern Sweden.
TagEnergy, a global renewable developer and investor, has <a href="https://www.mercomindia.com/tagenergy-dual-currency-green-bond" target="_blank" rel="noopener">closed</a> a dual currency (Australian Dollar and Euro) green bond raising €570 million (~$623 million). The bond issuance, with investors Copenhagen Infrastructure Partners and GIC, is expected to provide crucial support for expanding TagEnergy’s renewable energy portfolio across the UK, Europe, and Australia. The initial tranche of €270 million (~$295 million) will contribute to funding the first stage of the 1.3 GW Golden Plains Wind Farm. This wind farm will be complemented by an additional tranche of up to €300 million (~$328 million), supporting the company’s other global renewable assets.
CubicPV, a solar technology company, has <a href="https://cms.mercomindia.com/solar-technology-provider-cubic-pv-raises-million/" target="_blank" rel="noopener">secured</a> an equity commitment of over $100 million to support its U.S. factory plans and tandem product roadmap. The investment will be split into two tranches, with the first $33 million released initially. The second tranche of investment is tied to specific project milestones. CubicPV plans to use the funds to scale up its wafer production capacity and accelerate its tandem module development.
Sicona Battery Technologies, a company that develops advanced battery materials for lithium-ion batteries, <a href="https://cms.mercomindia.com/australian-battery-manufacturer-sicona-series-a-funding/" target="_blank" rel="noopener">secured</a> A$22 million (~$15 million) in Series A funding to expand its operations in Australia and the U.S. The funding round was led by India’s Himadri Speciality Chemical, Artesian, and Electrification &amp; Decarbonization AIE, a fund managed by Waratah Capital. Riverstone Ventures, Chaos Ventures, Investible Climate Tech Fund LP, and Club Investible also participated in the funding round. The Series A funding will enable Sicona to accelerate its U.S. plant&#8217;s engineering studies, site selection, and customer qualification.
Hydrovolt, a joint venture between Hydro and Northvolt focused on battery recycling, <a href="https://cms.mercomindia.com/battery-recycling-company-hydrovolt-secures-enova/" target="_blank" rel="noopener">secured</a> 15.3 million NOK (~$1.43 million) from Enova, a Norwegian public enterprise that promotes low-carbon energy solutions, to develop new technology for discharging and dismantling electric vehicle (EV) batteries. With Enova’s support, Hydrovolt will develop and test a new technology that automates and optimizes batteries&#8217; discharge and dismantling process.
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/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-forge-nano-raises-50-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Battery Company Talga Secures $164 Million Funding

<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/2023/06/amazon_polly_55512.mp3?version=1687327624">
			</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-and-ma-roundup-battery-company-talga-funding/" target="_blank" rel="noopener">Mercom Capital Group</a>
Talga Group, a battery materials company, <a href="https://mercomcapital.com/battery-materials-company-talga-group-from-eib/" target="_blank" rel="noopener">announced</a> that it has received approval from the European Investment Bank for €150 million (~$164 million) in senior debt funding to support its Vittangi Anode Project in Sweden. The Vittangi Anode Project will produce high-quality anode materials for lithium-ion batteries using 100% renewable electricity from a mine and anode refinery in northern Sweden.
TagEnergy, a global renewable developer and investor, has <a href="https://www.mercomindia.com/tagenergy-dual-currency-green-bond" target="_blank" rel="noopener">closed</a> a dual currency (Australian Dollar and Euro) green bond raising €570 million (~$623 million). The bond issuance, with investors Copenhagen Infrastructure Partners and GIC, is expected to provide crucial support for expanding TagEnergy’s renewable energy portfolio across the UK, Europe, and Australia. The initial tranche of €270 million (~$295 million) will contribute to funding the first stage of the 1.3 GW Golden Plains Wind Farm. This wind farm will be complemented by an additional tranche of up to €300 million (~$328 million), supporting the company’s other global renewable assets.
CubicPV, a solar technology company, has <a href="https://mercomcapital.com/solar-technology-provider-cubic-pv-raises-million/" target="_blank" rel="noopener">secured</a> an equity commitment of over $100 million to support its U.S. factory plans and tandem product roadmap. The investment will be split into two tranches, with the first $33 million released initially. The second tranche of investment is tied to specific project milestones. CubicPV plans to use the funds to scale up its wafer production capacity and accelerate its tandem module development.
Sicona Battery Technologies, a company that develops advanced battery materials for lithium-ion batteries, <a href="https://mercomcapital.com/australian-battery-manufacturer-sicona-series-a-funding/" target="_blank" rel="noopener">secured</a> A$22 million (~$15 million) in Series A funding to expand its operations in Australia and the U.S. The funding round was led by India’s Himadri Speciality Chemical, Artesian, and Electrification &amp; Decarbonization AIE, a fund managed by Waratah Capital. Riverstone Ventures, Chaos Ventures, Investible Climate Tech Fund LP, and Club Investible also participated in the funding round. The Series A funding will enable Sicona to accelerate its U.S. plant’s engineering studies, site selection, and customer qualification.
Hydrovolt, a joint venture between Hydro and Northvolt focused on battery recycling, <a href="https://mercomcapital.com/battery-recycling-company-hydrovolt-secures-enova/" target="_blank" rel="noopener">secured</a> 15.3 million NOK (~$1.43 million) from Enova, a Norwegian public enterprise that promotes low-carbon energy solutions, to develop new technology for discharging and dismantling electric vehicle (EV) batteries. With Enova’s support, Hydrovolt will develop and test a new technology that automates and optimizes batteries’ discharge and dismantling process.
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/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/" target="_blank" rel="noopener">here</a>.
Read last week’s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-forge-nano-raises-50-million/" target="_blank" rel="noopener">roundup</a>.

Forge Nano, a provider of nanocoating technology for lithium-ion batteries, <a href="https://cms.mercomindia.com/forge-nano-raises-50-million-to-build-out-battery-production-line/" target="_blank" rel="noopener">closed</a> on $50 million in funding led by key investments from Hanwha Corporate Venture Capital. The funding brings the company’s total amount of capital raised to date to more than $95 million. The financing will enable Forge Nano to pursue its nanotechnology opportunities for battery material and develop a battery production line to meet the demand for full-scale, premium battery contracts.
Renewable energy company Brookfield Renewable is set to <a href="https://cms.mercomindia.com/brookfield-to-acquire-dukes-utility-scale-renewables-business-for-2-8-billion/" target="_blank" rel="noopener">acquire</a> Duke Energy’s unregulated utility-scale commercial renewables business in the U.S. for approximately $2.8 billion. The amount includes the assumption of debt and non-controlling tax equity interests. Duke Energy expects to receive around $1.1 billion in net proceeds from the transaction, which will be utilized to bolster its balance sheet and prevent the need for additional debt issuances by the holding company.
SK On, a battery technology company and a subsidiary of SK Innovation, has <a href="https://cms.mercomindia.com/battery-tech-firm-sk-on-secures-944-million-investment-for-global-expansion/" target="_blank" rel="noopener">secured</a> a significant long-term financial investment of up to $944 million to support the continuous growth of its battery business in the global market. The agreement involves SK Innovation, SK On, and the MBK Consortium, which comprises financial investors from the United States, the Middle East, and other regions.
Eolian, a U.S.-based investor in renewable energy projects and a portfolio company of Global Infrastructure Partners, has <a href="https://www.mercomindia.com/renewable-energy-investor-eolian-515-million-green-loan" target="_blank" rel="noopener">announced</a> the closing of a $515 million renewable energy green loan. The company said the financing was secured by its diverse group of eligible green projects developed over the past two decades. The financing saw participation from Banco Santander, Mitsubishi UFJ Financial Group, National Australia Bank, Natixis Corporate and Investment Banking, and Sumitomo Mitsui Banking Corporation.
Amp Energy India, an integrated renewable energy power producer, has <a href="https://www.mercomindia.com/amp-energy-india-expand-renewable-portfolio">secured</a> up to $250 million in funding. The financing round was led by the Sumitomo Mitsui Banking Corporation of Japan, the Intermediate Capital Group, and the Asian Infrastructure Investment Bank. The funding secured by Amp Energy India will enable the company to expand its operations further, accelerate its growth strategy, and leverage the increasing demand for renewable energy solutions across India.
Gujarat-based power company Torrent Power has <a href="https://www.mercomindia.com/torrent-power-6-billion-non-convertible-debentures" target="_blank" rel="noopener">raised</a> ₹6 billion (~$72.7 million) through the issuance of non-convertible debentures on a private placement basis. The company has issued and allotted 60,000 Series 11 (series 11A- 11F) Secured, Rated, Listed, Taxable, Non-Cumulative, Redeemable, and Non-Convertible Debentures of ₹100,000 each (~$1,212).
About: Energy, a London-based battery technology company, <a href="https://cms.mercomindia.com/battery-technology-company-about-energy-seed-funding/" target="_blank" rel="noopener">raised</a> £1.5 million (~$1.8 million) in seed funding to accelerate the development and commercialization of its software platform, ‘The Voltt.’ The platform enables battery designers to create virtual prototypes of their products, reducing the cost and time required for testing and validation.
ACCIONA Energía, a renewable energy company, in a joint venture with ACCIONA, <a href="https://cms.mercomindia.com/acciona-acquires-solar-solutions-solideo/" target="_blank" rel="noopener">announced</a> the acquisition of a majority stake in Solideo, a provider of self-consumption and energy efficiency solutions for residential customers and small and medium-sized enterprises (SMEs) in Spain. Solideo also offers batteries for electric storage, charging points for electric vehicles, and aerothermal air conditioning systems. The integration of Solideo will allow ACCIONA Energía to access its business network, which has a high potential for growth in Spain.
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/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-futurasun-acquires-solertix/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Forge Nano Raises $50 Million for Battery Production Line

<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/2023/06/amazon_polly_55281.mp3?version=1686718585">
			</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-and-ma-roundup-forge-nano-raises-50-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Forge Nano, a provider of nanocoating technology for lithium-ion batteries, <a href="https://mercomcapital.com/forge-nano-raises-50-million-to-build-out-battery-production-line/" target="_blank" rel="noopener">closed</a> on $50 million in funding led by key investments from Hanwha Corporate Venture Capital. The funding brings the company’s total amount of capital raised to date to more than $95 million. The financing will enable Forge Nano to pursue its nanotechnology opportunities for battery material and develop a battery production line to meet the demand for full-scale, premium battery contracts.
Renewable energy company Brookfield Renewable is set to <a href="https://mercomcapital.com/brookfield-to-acquire-dukes-utility-scale-renewables-business-for-2-8-billion/" target="_blank" rel="noopener">acquire</a> Duke Energy’s unregulated utility-scale commercial renewables business in the U.S. for approximately $2.8 billion. The amount includes the assumption of debt and non-controlling tax equity interests. Duke Energy expects to receive around $1.1 billion in net proceeds from the transaction, which will be utilized to bolster its balance sheet and prevent the need for additional debt issuances by the holding company.
SK On, a battery technology company and a subsidiary of SK Innovation, has <a href="https://mercomcapital.com/battery-tech-firm-sk-on-secures-944-million-investment-for-global-expansion/" target="_blank" rel="noopener">secured</a> a significant long-term financial investment of up to $944 million to support the continuous growth of its battery business in the global market. The agreement involves SK Innovation, SK On, and the MBK Consortium, which comprises financial investors from the United States, the Middle East, and other regions.
Eolian, a U.S.-based investor in renewable energy projects and a portfolio company of Global Infrastructure Partners, has <a href="https://www.mercomindia.com/renewable-energy-investor-eolian-515-million-green-loan" target="_blank" rel="noopener">announced</a> the closing of a $515 million renewable energy green loan. The company said the financing was secured by its diverse group of eligible green projects developed over the past two decades. The financing saw participation from Banco Santander, Mitsubishi UFJ Financial Group, National Australia Bank, Natixis Corporate and Investment Banking, and Sumitomo Mitsui Banking Corporation.
Amp Energy India, an integrated renewable energy power producer, has <a href="https://www.mercomindia.com/amp-energy-india-expand-renewable-portfolio">secured</a> up to $250 million in funding. The financing round was led by the Sumitomo Mitsui Banking Corporation of Japan, the Intermediate Capital Group, and the Asian Infrastructure Investment Bank. The funding secured by Amp Energy India will enable the company to expand its operations further, accelerate its growth strategy, and leverage the increasing demand for renewable energy solutions across India.
Gujarat-based power company Torrent Power has <a href="https://www.mercomindia.com/torrent-power-6-billion-non-convertible-debentures" target="_blank" rel="noopener">raised</a> ₹6 billion (~$72.7 million) through the issuance of non-convertible debentures on a private placement basis. The company has issued and allotted 60,000 Series 11 (series 11A- 11F) Secured, Rated, Listed, Taxable, Non-Cumulative, Redeemable, and Non-Convertible Debentures of ₹100,000 each (~$1,212).
About: Energy, a London-based battery technology company, <a href="https://mercomcapital.com/battery-technology-company-about-energy-seed-funding/" target="_blank" rel="noopener">raised</a> £1.5 million (~$1.8 million) in seed funding to accelerate the development and commercialization of its software platform, ‘The Voltt.’ The platform enables battery designers to create virtual prototypes of their products, reducing the cost and time required for testing and validation.
ACCIONA Energía, a renewable energy company, in a joint venture with ACCIONA, <a href="https://mercomcapital.com/acciona-acquires-solar-solutions-solideo/" target="_blank" rel="noopener">announced</a> the acquisition of a majority stake in Solideo, a provider of self-consumption and energy efficiency solutions for residential customers and small and medium-sized enterprises (SMEs) in Spain. Solideo also offers batteries for electric storage, charging points for electric vehicles, and aerothermal air conditioning systems. The integration of Solideo will allow ACCIONA Energía to access its business network, which has a high potential for growth in Spain.
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/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-futurasun-acquires-solertix/" target="_blank" rel="noopener">roundup</a>.

duke

Get the most relevant India solar and clean energy news.

RECENT POSTS