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

DSD Renewables, a provider of customized solar PV energy and energy storage solutions, <a href="https://cms.mercomindia.com/dsd-renewables-secures-238m-for-distributed-generation-solar-projects/" target="_blank" rel="noopener">announced</a> the closing of $238 million in financing to support the development of 233 MW distributed generation solar projects. First Citizens Bank’s Energy Finance business acted as co-lead arranger and administrative agent on the deal. Nomura and Mitsubishi UFJ Financial Group acted as the co-lead arrangers. The portfolio comprises 188 distributed generation solar projects totaling 233 MW of renewable generation capacity across 12 states and the District of Columbia.
CleanCapital, an independent power producer focused on distributed clean energy, <a href="https://cms.mercomindia.com/cleancapital-acquires-51-mw-solar-projects-from-greenbacker/" target="_blank" rel="noopener">announced</a> the acquisition of a portfolio of 64 operating solar projects totaling 51.2 MW from Greenbacker, an energy-transition-focused investment manager and independent power producer. The portfolio is distributed across 13 states in the U.S., including a diverse mix of rooftop and ground-mounted solar projects. Most of these projects serve municipal, university, school, and hospital entities, as well as commercial customers.
EDP, a renewable energy power producer, through its 71.3% owned subsidiary EDP Renováveis , has entered into a <a href="https://cms.mercomindia.com/edp-sells-100-stake-in-190-mw-solar-portfolio/" target="_blank" rel="noopener">sale</a> and purchase agreement with Prosolia Energy, an independent power producer, to sell a 100% equity stake in a portfolio of solar projects totaling 190 MWac (229 MWdc). The deal is estimated to have an enterprise value of €0.16 billion (~$0.18 billion). The portfolio, comprising five operating solar projects, is located across the regions of Andalucía and Castilla y León in Spain.
Orrön Energy, a renewable energy company, entered into an agreement with Saxovent Renewables, a renewable energy project developer, to <a href="https://cms.mercomindia.com/orron-energy-sells-76-mw-solar-project-in-germany/" target="_blank" rel="noopener">sell</a> a 76 MW solar project in Germany. The project, being developed as an agrivoltaic project, is located in the northeastern part of Germany. The transaction is valued at up to €4 million (~$4.6 million), including an up-front consideration of €2 million (~$2.3 million).
ENCAVIS, a solar and wind project developer, announced the <a href="https://cms.mercomindia.com/encavis-acquires-199-mw-solar-and-wind-project-portfolio/" target="_blank" rel="noopener">acquisition</a> of a 199 MW solar and wind project portfolio located approximately 40 km outside Zaragoza, in the Aragon region of Spain, from BayWa r.e., a renewable energy project developer. The portfolio includes two solar projects totaling 57 MWp and three wind projects with a combined capacity of around 142 MW.
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-exus-secures-solar-wind-portfolio/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: DSD Renewables Secures $238 Million for Distributed Solar Projects

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-dsd-renewables-distributed-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
DSD Renewables, a provider of customized solar PV energy and energy storage solutions, <a href="https://mercomcapital.com/dsd-renewables-secures-238m-for-distributed-generation-solar-projects/" target="_blank" rel="noopener">announced</a> the closing of $238 million in financing to support the development of 233 MW distributed generation solar projects. First Citizens Bank’s Energy Finance business acted as co-lead arranger and administrative agent on the deal. Nomura and Mitsubishi UFJ Financial Group acted as the co-lead arrangers. The portfolio comprises 188 distributed generation solar projects totaling 233 MW of renewable generation capacity across 12 states and the District of Columbia.
CleanCapital, an independent power producer focused on distributed clean energy, <a href="https://mercomcapital.com/cleancapital-acquires-51-mw-solar-projects-from-greenbacker/" target="_blank" rel="noopener">announced</a> the acquisition of a portfolio of 64 operating solar projects totaling 51.2 MW from Greenbacker, an energy-transition-focused investment manager and independent power producer. The portfolio is distributed across 13 states in the U.S., including a diverse mix of rooftop and ground-mounted solar projects. Most of these projects serve municipal, university, school, and hospital entities, as well as commercial customers.
EDP, a renewable energy power producer, through its 71.3% owned subsidiary EDP Renováveis , has entered into a <a href="https://mercomcapital.com/edp-sells-100-stake-in-190-mw-solar-portfolio/" target="_blank" rel="noopener">sale</a> and purchase agreement with Prosolia Energy, an independent power producer, to sell a 100% equity stake in a portfolio of solar projects totaling 190 MWac (229 MWdc). The deal is estimated to have an enterprise value of €0.16 billion (~$0.18 billion). The portfolio, comprising five operating solar projects, is located across the regions of Andalucía and Castilla y León in Spain.
Orrön Energy, a renewable energy company, entered into an agreement with Saxovent Renewables, a renewable energy project developer, to <a href="https://mercomcapital.com/orron-energy-sells-76-mw-solar-project-in-germany/" target="_blank" rel="noopener">sell</a> a 76 MW solar project in Germany. The project, being developed as an agrivoltaic project, is located in the northeastern part of Germany. The transaction is valued at up to €4 million (~$4.6 million), including an up-front consideration of €2 million (~$2.3 million).
ENCAVIS, a solar and wind project developer, announced the <a href="https://mercomcapital.com/encavis-acquires-199-mw-solar-and-wind-project-portfolio/" target="_blank" rel="noopener">acquisition</a> of a 199 MW solar and wind project portfolio located approximately 40 km outside Zaragoza, in the Aragon region of Spain, from BayWa r.e., a renewable energy project developer. The portfolio includes two solar projects totaling 57 MWp and three wind projects with a combined capacity of around 142 MW.
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-exus-secures-solar-wind-portfolio/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.edp.com/en/" target="_blank" rel="noopener">EDP</a>, a renewable energy power producer, through its 71.3% owned subsidiary EDP Renováveis (EDPR), has entered into a sale and purchase agreement with <a href="https://prosolia.com/es/" target="_blank" rel="noopener">Prosolia Energy</a>, an independent power producer, to sell a 100% equity stake in a portfolio of solar projects totaling 190 MWac (229 MWdc). The deal is estimated to have an enterprise value of €0.16 billion (~$0.18 billion).
The portfolio, comprising five operating solar projects, is located across the regions of Andalucía and Castilla y León in Spain. These projects, with an average asset life of less than one year, have long-term power purchase agreements.
The transaction is subject to regulatory approvals and other usual conditions, with closing expected during 2025.
With this deal, EDPR has already secured approximately €0.8 billion (~$0.92 billion) of the nearly €2 billion (~$2.3 billion) asset rotation proceeds target for 2025.
In addition, the company has also <a href="https://cms.mercomindia.com/edp-acquires-44-mw-solar-project-portfolio-in-brazil/" target="_blank" rel="noopener">acquired</a> 16 solar projects from Tangipar Group, a solar energy company in Brazil, in November 2024. The projects located in Bahia, Mato Grosso, Mato Grosso do Sul, and Paraná have a total capacity of 44.3 MW.
Earlier in January, EDPR <a href="https://cms.mercomindia.com/edpr-sells-49-stake-in-solar-portfolio-and-storage-project/" target="_blank" rel="noopener">announced</a> the signing of a sale and purchase agreement with a global energy company to sell a 49% equity stake of class B shares in an operational solar portfolio comprising two projects totaling 300 MWac (406 MWdc) and a 92 MW electricity storage project. The projects are located in California.
According to Mercom&#8217;s 1H and Q2 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-and-q2-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, approximately 19.9 GW of solar projects were acquired in the first half of 2025, compared to 18.5 GW in the first half of 2024.
Earlier this week, ENCAVIS, a solar and wind project developer, <a href="https://cms.mercomindia.com/encavis-acquires-199-mw-solar-and-wind-project-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a 199 MW solar and wind project portfolio located approximately 40 km outside Zaragoza, in the Aragon region of Spain, from BayWa r.e., a renewable energy project developer.

EDP Sells 100% Stake in 190 MW Solar Portfolio

EDP, a renewable energy power producer, <a href="https://cms.mercomindia.com/edp-acquires-44-mw-solar-project-portfolio-in-brazil/" target="_blank" rel="noopener">announced</a> the acquisition of 16 solar projects from Tangipar Group, a solar energy company in Brazil. The projects in Bahia, Mato Grosso, Mato Grosso do Sul, and Paraná, have a total capacity of 44.3 MW. Five of the 16 projects have already been completed, with the remaining ones expected to be operational by 2025. The planned operational capacities include 10.9 MW in Bahia, 12.5 MW in Mato Grosso, 12.9 MW in Mato Grosso do Sul, and 7.7 MW in Paraná.
Westbridge Renewable Energy (Westbridge), a Canada-based solar project developer, <a href="https://cms.mercomindia.com/westbridge-sells-332-mw-sunnynook-solar-project-in-alberta/" target="_blank" rel="noopener">announced</a> that it closed the sale of its 75%-owned 332 MWp Sunnynook solar project in Alberta. A subsidiary of METLEN Energy &amp; Metals, formerly known as Mytilineos, acquired the solar project. The Sunnynook project is the second to reach the ready-to-build stage in 2024. METLEN will build the solar project.
SSE Renewables, a developer specializing in renewable energy projects, <a href="https://cms.mercomindia.com/sse-acquires-120-mw-240-mwh-battery-storage-project-in-ireland/" target="_blank" rel="noopener">announced</a> that it has acquired the project development rights for a 120 MW/240 MWh grid-scale battery energy storage system (BESS) in Ireland from Low Carbon, a U.K.-based renewable energy firm. Under the deal, SSE acquired the Thornsberry BESS project in County Offaly from Grid Systems Services, a battery storage project developer owned by Low Carbon.
Eku Energy, an energy storage project developer, <a href="https://cms.mercomindia.com/eku-energy-secures-financing-for-250-mw-williamsdale-energy-storage-project/" target="_blank" rel="noopener">announced</a> that it reached financial closure for its 250 MW/500 MWh Williamsdale battery energy storage system located in the Australian Capital Territory (ACT). Tesla will supply Megapack technology for the project. Consolidated Power Projects will supply the Balance of Plant as Eku Energy’s appointed construction partner and Eku Energy will manage the project. The project is a part of the ACT Government’s Big Canberra Battery project, connecting to the Evoenergy electricity distribution network.
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-primergy-secures-225-million-financing-valley-fire-portfolio/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: EDP Acquires 44 MW Solar Project Portfolio in Brazil

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-edp-acquires-solar-project-brazil/" target="_blank" rel="noopener">Mercom Capital Group</a>
EDP, a renewable energy power producer, <a href="https://mercomcapital.com/edp-acquires-44-mw-solar-project-portfolio-in-brazil/" target="_blank" rel="noopener">announced</a> the acquisition of 16 solar projects from Tangipar Group, a solar energy company in Brazil. The projects in Bahia, Mato Grosso, Mato Grosso do Sul, and Paraná, have a total capacity of 44.3 MW. Five of the 16 projects have already been completed, with the remaining ones expected to be operational by 2025. The planned operational capacities include 10.9 MW in Bahia, 12.5 MW in Mato Grosso, 12.9 MW in Mato Grosso do Sul, and 7.7 MW in Paraná.
Westbridge Renewable Energy (Westbridge), a Canada-based solar project developer, <a href="https://mercomcapital.com/westbridge-sells-332-mw-sunnynook-solar-project-in-alberta/" target="_blank" rel="noopener">announced</a> that it closed the sale of its 75%-owned 332 MWp Sunnynook solar project in Alberta. A subsidiary of METLEN Energy &amp; Metals, formerly known as Mytilineos, acquired the solar project. The Sunnynook project is the second to reach the ready-to-build stage in 2024. METLEN will build the solar project.
SSE Renewables, a developer specializing in renewable energy projects, <a href="https://mercomcapital.com/sse-acquires-120-mw-240-mwh-battery-storage-project-in-ireland/" target="_blank" rel="noopener">announced</a> that it has acquired the project development rights for a 120 MW/240 MWh grid-scale battery energy storage system (BESS) in Ireland from Low Carbon, a U.K.-based renewable energy firm. Under the deal, SSE acquired the Thornsberry BESS project in County Offaly from Grid Systems Services, a battery storage project developer owned by Low Carbon.
Eku Energy, an energy storage project developer, <a href="https://mercomcapital.com/eku-energy-secures-financing-for-250-mw-williamsdale-energy-storage-project/" target="_blank" rel="noopener">announced</a> that it reached financial closure for its 250 MW/500 MWh Williamsdale battery energy storage system located in the Australian Capital Territory (ACT). Tesla will supply Megapack technology for the project. Consolidated Power Projects will supply the Balance of Plant as Eku Energy’s appointed construction partner and Eku Energy will manage the project. The project is a part of the ACT Government’s Big Canberra Battery project, connecting to the Evoenergy electricity distribution network.
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-primergy-secures-225-million-financing-valley-fire-portfolio/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.edp.com/en" target="_blank" rel="noopener">EDP,</a> a renewable energy power producer, announced the acquisition of 16 solar projects from Tangipar Group, a solar energy company in Brazil. The projects in Bahia, Mato Grosso, Mato Grosso do Sul, and Paraná, have a total capacity of 44.3 MW.
Five out of the 16 projects have already been completed, with the remaining ones expected to be operational by 2025. The planned operational capacities include 10.9 MW in Bahia, 12.5 MW in Mato Grosso, 12.9 MW in Mato Grosso do Sul, and 7.7 MW in Paraná.
The transaction is subject to the approval of the Brazilian Council for Economic Defense. Once completed, the 16 projects will be added to EDP’s Brazil portfolio, with an installed capacity of over 250 MWp. The projects will supply clean electricity to low-voltage companies through the local shared energy production model.
“Decentralized solar production represents a huge opportunity to accelerate the energy transition together with our customers. In other words, more than expanding our operations and capacity in renewable sources to become 100% green by 2030, we want to contribute to the decarbonization of the economy, making solar energy more accessible to different types of consumers,” says Carlos Andrade, vice president of EDP Brazil.
According to Mercom’s 9M and Q3 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-and-q3-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, 166 project acquisitions totaling 28.3 GW were transacted in 9M 2024 compared to the same number of project acquisitions totaling 31.6 GW in 9M 2023.
In October, Enerside, a Spain-based vertically integrated solar company, announced the <a href="https://cms.mercomindia.com/enerside-sells-5-mw-solar-project-portfolio-in-brazil/" target="_blank" rel="noopener">sale</a> of two Brazilian distributed-generation solar projects totaling 5 MW (6.6 MWp) to IVI ENERGIA, a Brazilian energy company owned by investment fund Brookfield Renovables. The sale comprises phase 1 of the project, which is already in operation, and an extension of phase 2, which is set to begin construction.

EDP Acquires 44 MW Solar Project Portfolio in Brazil

<a href="https://www.edp.com/en" target="_blank" rel="noopener">EDP</a>, a Portugal-based electric utility company, will invest €24 billion (~$29.10 billion) in the energy transition to double its solar and wind capacity from 12 GW to 25 GW by 2025.
The company expects to become coal-free by 2025 and go all green by 2030, EDP Group. It also aims to have a 50 GW of renewable capacity for moving production from 74% renewables to 100% renewables by 2030.
EDP will enhance its investment in renewables in Europe and North America. It will invest 80% of total investment in renewables, 15% in networks, and 5% in client solutions and energy management. The company aims to increase its global footprint ten-fold in solar generation.
The company will also invest €2 billion (~$2.42 billion) to provide new solutions for storage, smart-grid, hydrogen, energy communities, electric-mobility, and the digital transformation of its business by 2025.
Recently, EDP <a href="https://mercomindia.com/daily-news-wrap-up-kpi-global-2/" target="_blank" rel="noopener">launched</a> two business units to exploit the potential of green hydrogen and energy storage systems. The H2 business unit would be the group’s new arm for the development of new hydrogen projects. While The storage unit would aim to achieve a storage capacity of 1 GW within five years
EDP said the ambitious growth would drive its earnings before interest, taxes, depreciation, and amortization (EBITDA) to €4.7 billion (~$5.69 billion) in 2025.
Miguel Stilwell d’Andrade, Chief Executive Officer of EDP Group, said, “This plan is a bold and ambitious commitment and unprecedented acceleration of growth in renewables building on our strong track record.”
Last month, EDP Renewables, a renewable arm of EDP, <a href="https://mercomindia.com/spain-awards-solar-wind-projects/" target="_blank" rel="noopener">secured</a> a portfolio of six solar and wind projects with a total capacity of 143 MW in the latest Spain auction.
Mercom had earlier reported that EDP Renewables and ENGIE <a href="https://mercomindia.com/daily-news-wrap-up-hero-to-exchange/" target="_blank" rel="noopener">combined</a> their existing and planned offshore wind projects to form a new company, Ocean Winds. After launching OW in Europe, the two companies unveiled the U.S. arm of this new company, OW North America.

EDP to Invest €24 Billion to Double its Solar and Wind Capacity by 2025

Portugal’s recent solar auction resulted in a record low bid of €14.76 (~$16.4)/MWh, Joao Glamba, the secretary of state for energy told news agency Reuters. In the 1,150 MW auction, 13 bidders won projects among all the competing entities.
This was the largest auction of any energy launched in Portugal. The capacity is equivalent to more than twice the current installed capacity of solar energy in Portugal.
“This first auction in Portugal was a success. There were brutal discounts and, in addition to getting the lowest prices in Europe, we hit new world lows. This auction shows that the energy transition, to which the government is committed, not only can strongly accelerate investment and the penetration of renewables in Portugal, but it can be done at very low prices,” Galamba commented.
According to Portuguese newspaper, Jornal De Negocios, Spain’s Iberdrola bagged seven of the 24 licenses, and France’s Akuo won 370 MW in the process. Based on the locations where these projects will be installed, the auctions were held where the winners would be those offering the highest discounts to the bidding tariff of €45 (~₹ 3,443)/ MWh.
<a href="https://mercomindia.com/edf-financing-wind-saudi-arabia/" target="_blank" rel="noopener noreferrer">Recently</a>, EDF Renewables and Masdar financed the Dumat Al Jandal project in wind energy generation, in Saudi Arabia. This is a utility-scale project. The Renewable Energy Project Development Office of the Saudi Ministry of Energy, Industry, and Mineral awarded the $500 million (~₹34,505 million) wind farm. This took place in January after the bidders were summoned through the tendering process in August 2017.
Moreover, this <a href="https://mercomindia.com/total-eren-edf-renewables-ppa-solar/" target="_blank" rel="noopener noreferrer">July</a>, <a href="https://www.total-eren.com/en/" target="_blank" rel="noopener noreferrer">Total Eren</a> and <a href="https://www.edf-re.com/" target="_blank" rel="noopener noreferrer">EDF Renewables</a> sealed 25-year long term power purchase agreements for four solar energy projects. The total installed capacity is 716 MW. The projects are situated in north Indian states of Rajasthan and Uttar Pradesh. The projects have been garnered by Eden Renewables India, which is a joint venture of EDF Renewables in India.
Image credit: ESA/D. O&amp;#039;Donnell [CC BY-SA <a href="https://creativecommons.org/licenses/by-sa/3.0-igo" target="_blank" rel="noopener noreferrer">3.0-igo</a>]

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