NTPC Floats O&M Tender for 25 MW Floating Solar Project

MNRE Clarifies ALMM List II Rules for Solar Cell Compliance

IEX’s Electricity Trading Volume Rises 7.7% YoY in July

Distribution Business, Renewables Boost Torrent’s Revenue 3% in Q1 FY 2027

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

<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/2026/07/amazon_polly_98073.mp3?version=1784091877">
			</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-aditya-birla-renewables-to-acquire-sprng-energy/" target="_blank" rel="noopener">Mercom Capital Group</a>
Aditya Birla Renewables (ABRen), the renewable energy subsidiary of Grasim Industries, has <a href="https://www.mercomindia.com/aditya-birla-renewables-to-acquire-sprng-energy-for-1-8-billion" target="_blank" rel="noopener">signed</a> a definitive agreement to acquire Sprng Energy from Shell Overseas Investment for an enterprise value of ₹172 billion (~$1.8 billion). ABRen will acquire all equity shares and securities of Solenergi Power, which owns the Sprng Energy group of companies. This transaction adds a contracted portfolio of ~5 GW of capacity, along with a strong pipeline of connectivity and development.
Energy Exploration Technologies (EnergyX), a U.S.-based energy technology company focused on lithium production and critical-mineral supply chain infrastructure, has <a href="https://mercomcapital.com/energyx-secures-225-million-investment-for-chile-lithium-project/" target="_blank" rel="noopener">secured</a> a $225 million strategic investment from the Italian energy company Eni. The investment is for a minority stake in Project Black Giant, a lithium resource project in the Antofagasta region of northern Chile.
Otovo, a distributed energy services provider, has <a href="https://mercomcapital.com/otovo-raises-7-25m-fund-green-panel-solar-acquisition/" target="_blank" rel="noopener">raised</a> $7.25 million through a private placement to help finance its proposed acquisition of Israel-based solar energy services company Green Panel Solar Energy Systems. Otovo plans to use the proceeds to fund the acquisition, provide working capital, strengthen its balance sheet, and continue investing in its Endurance artificial intelligence platform. The funds may also support additional acquisitions.
Indian-based electric-vehicle mobility platform  Milo Drive has <a href="https://www.mercomindia.com/ev-platform-milo-drive-raises-2-4-million-in-seed-funding-round" target="_blank" rel="noopener">raised</a> $2.4 million (~₹228.59 million) in a seed funding round led by Caret Capital. Antler, Alteria Capital, IAN Capital, Climate Angels, and Aureolis Capital were among the other investors who participated in the round. The company said it will use the funds to strengthen its multi-channel ride demand network, onboard independent fleet operators, and expand the capabilities of its automated charging intelligence software.
Swiss energy company Alpiq has agreed to <a href="https://mercomcapital.com/alpiq-acquire-90-stake-battery-storage-developer-harmony-energy/" target="_blank" rel="noopener">acquire</a> a 90% stake in Harmony Energy, a developer and operator of grid-scale battery energy storage projects across Europe. The acquisition will expand Alpiq’s battery storage portfolio and provide access to Harmony Energy’s project development, construction, operations, and asset management capabilities. The companies did not disclose the financial terms or expected completion date.
Alternative credit platform BlackSoil has <a href="https://www.mercomindia.com/blacksoil-to-acquire-credit-fairs-solar-financing-business" target="_blank" rel="noopener">announced</a> it will acquire Credit Fair’s solar financing business, marking its entry into India’s renewable energy financing sector. As part of the transaction, BlackSoil will acquire the solar financing business, including its management team, technology platform, brand, and operating infrastructure. Credit Fair’s solar financing assets under management stand at ₹1.53 billion (~$16.04 million).
InstaVolt, an electric vehicle charging network operator, has <a href="https://mercomcapital.com/instavolt-sells-iberian-ev-charging-business-to-powerdot/" target="_blank" rel="noopener">sold</a> its Iberian business operations in Spain and Portugal to European electric vehicle charging provider Powerdot. The transaction includes InstaVolt’s charging network and associated employees across the two countries. InstaVolt said the sale is part of its plan to focus investment on its core markets in the UK and Ireland.
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-eos-energy-secures-75-million" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Aditya Birla Renewables to Acquire Sprng Energy

<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/2026/07/amazon_polly_97849.mp3?version=1783667750">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><a href="https://energyx.com/" target="_blank" rel="noopener">Energy Exploration Technologies (EnergyX)</a>, a U.S.-based energy technology company focused on lithium production and critical mineral supply chain infrastructure, has secured a $225 million strategic investment from Italian energy company Eni.
The investment is for a minority stake in Project Black Giant, a lithium resource project in the Antofagasta region of northern Chile.
Under the binding investment agreements, Eni will receive rights to approximately 25% of the project&#8217;s future lithium production.
According to EnergyX, Project Black Giant is designed to produce up to 52,500 metric tons of lithium carbonate annually across its first two development phases. The company said the project also has the potential to expand in future phases.
The investment follows EnergyX&#8217;s acquisition of more than 100,000 acres of mining tenements in the Domeyko Range, near Salar de Punta Negra, in Chile&#8217;s Antofagasta region, in November 2023.
Clara Andreoletti, CEO at Eni Next, said, &#8220;We continue to support EnergyX with this important investment into the Black Giant lithium project. Eni Next has been a shareholder of EnergyX for nearly 4 years now, since the early days of exploration. This larger investment into EnergyX by our corporate parent showcases successful portfolio incubation and deal flow by the corporate venture capital arm.&#8221;
This investment supports the advancement of previously announced financing initiatives, including a $690 million Letter of Intent from the U.S. EXIM Bank to provide all the debt financing needed for the project. Goldman Sachs &amp; Co advised EnergyX in the transaction.
VC funding raised by Energy Storage companies in Q1 2026 increased 9% YoY, with $1.2 billion in 26 deals compared to $1.1 billion in 18 deals in Q1 2025, and a 44% increase in deal count, according to Mercom&#8217;s Q1 2026 Funding and M&amp;A <a href="https://mercomcapital.com/product/q1-2026-funding-ma-report-energy-storage/" target="_blank" rel="noopener">report</a> for Energy Storage.
In September 2025, Cornish Lithium, a U.K.-based mineral exploration and development company, <a href="https://mercomcapital.com/cornish-lithium-raises-47-million-in-equity-funding/" target="_blank" rel="noopener">raised</a> £35 million (~$47 million) in equity funding from its existing institutional investors. The round, led by the National Wealth Fund with an investment of up to ~$41.7 million, also includes a ~$5.4 million contribution from TechMet.

EnergyX Secures $225 Million Investment for Chile Lithium Project

General Motors (GM) said its venture capital arm GM Ventures, would <a href="https://cms.mercomindia.com/energyx-receives-50-million-to-boost-lithium-supply-for-ev-batteries/">lead</a> a $50 million Series B financing round for EnergyX, a Texas-based startup developing a more efficient method to extract and process lithium from salt flats. EnergyX plans to use the new funding to construct five larger demonstration plants in North America and South America. General Motors will also help develop, refine, and deploy EnergyX’s technology.
Myenergi, a manufacturer of eco-smart home technology in the UK, has <a href="https://cms.mercomindia.com/myenergi-raises-34-million-in-funding-to-develop-smart-home-energy-products/" target="_blank" rel="noopener">secured</a> a £30 million (~$34 million) funding package from HSBC UK to support developing and producing its smart home energy products. The funding will expand the company’s operations, enhance its production capabilities, and invest in research and development to develop new products. The company aims to create solutions that help consumers manage their energy usage and costs more efficiently while reducing their carbon emissions and energy consumption.
ChargeLab, an electric vehicle charging software company, has <a href="https://cms.mercomindia.com/ev-charging-software-startup-chargelab-raises-15-million-in-series-a-funding/" target="_blank" rel="noopener">announced</a> the addition of $15 million in new financing to their Series A funding round, doubling funds previously raised and bringing the round’s total to $30 million. This expansion includes $10 million in new equity financing at an increased valuation and $5 million in venture debt. Silver Comet, an intelligent power management company, and Eaton, a global leader in power management technologies, provided the funding.
Allotrope Energy, a startup developing ultra-fast charging batteries, <a href="https://cms.mercomindia.com/biomaterial-battery-startup-allotrope-energy/" target="_blank" rel="noopener">announced</a> that it had received $6.7 million in funding from Suzano Ventures, the corporate venture capital fund of Suzano, a leading hardwood pulp producer. The investment will help Allotrope Energy accelerate the development and commercialization of its battery technology that can charge in minutes and use carbon extracted from a renewable biomaterial.
Haven Energy, a home battery installation startup, <a href="https://cms.mercomindia.com/home-battery-installer-haven-energy-raises-4-2-million-in-funding/">raised</a> $4.2 million in seed funding led by Lerer Hippeau and Giant Ventures, with participation from Quantum Innovation Fund and Raven One Ventures. The company plans to use the new capital to accelerate consumer adoption of its home battery systems in Southern California. Haven Energy plans to expand throughout California and to additional U.S. markets, targeting 100,000 installations by 2028.
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-and-ma-roundup-ryse-energy/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: EnergyX Receives $50 Million to Boost Lithium Supply

<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/2023/04/amazon_polly_52801.mp3?version=1765354633">
			</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-energyx-receives-50-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
General Motors (GM) said its venture capital arm GM Ventures, would <a href="https://mercomcapital.com/energyx-receives-50-million-to-boost-lithium-supply-for-ev-batteries/">lead</a> a $50 million Series B financing round for EnergyX, a Texas-based startup developing a more efficient method to extract and process lithium from salt flats. EnergyX plans to use the new funding to construct five larger demonstration plants in North America and South America. General Motors will also help develop, refine, and deploy EnergyX’s technology.
Myenergi, a manufacturer of eco-smart home technology in the UK, has <a href="https://mercomcapital.com/myenergi-raises-34-million-in-funding-to-develop-smart-home-energy-products/" target="_blank" rel="noopener">secured</a> a £30 million (~$34 million) funding package from HSBC UK to support developing and producing its smart home energy products. The funding will expand the company’s operations, enhance its production capabilities, and invest in research and development to develop new products. The company aims to create solutions that help consumers manage their energy usage and costs more efficiently while reducing their carbon emissions and energy consumption.
ChargeLab, an electric vehicle charging software company, has <a href="https://mercomcapital.com/ev-charging-software-startup-chargelab-raises-15-million-in-series-a-funding/" target="_blank" rel="noopener">announced</a> the addition of $15 million in new financing to their Series A funding round, doubling funds previously raised and bringing the round’s total to $30 million. This expansion includes $10 million in new equity financing at an increased valuation and $5 million in venture debt. Silver Comet, an intelligent power management company, and Eaton, a global leader in power management technologies, provided the funding.
Allotrope Energy, a startup developing ultra-fast charging batteries, <a href="https://mercomcapital.com/biomaterial-battery-startup-allotrope-energy/" target="_blank" rel="noopener">announced</a> that it had received $6.7 million in funding from Suzano Ventures, the corporate venture capital fund of Suzano, a leading hardwood pulp producer. The investment will help Allotrope Energy accelerate the development and commercialization of its battery technology that can charge in minutes and use carbon extracted from a renewable biomaterial.
Haven Energy, a home battery installation startup, <a href="https://mercomcapital.com/home-battery-installer-haven-energy-raises-4-2-million-in-funding/">raised</a> $4.2 million in seed funding led by Lerer Hippeau and Giant Ventures, with participation from Quantum Innovation Fund and Raven One Ventures. The company plans to use the new capital to accelerate consumer adoption of its home battery systems in Southern California. Haven Energy plans to expand throughout California and to additional U.S. markets, targeting 100,000 installations by 2028.
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://mercomcapital.com/funding-and-ma-roundup-ryse-energy/" target="_blank" rel="noopener">roundup</a>.

General Motors said its venture capital arm GM Ventures, would lead a $50 million Series B financing round for <a href="https://energyx.com/" target="_blank" rel="noopener">EnergyX</a>, a Texas-based startup developing a more efficient method to extract and process lithium from salt flats.
EnergyX validated its technology with a pilot plant in South America’s “Lithium Triangle,” an area of salt flats covering parts of Argentina, Bolivia and Chile that contains over half of the world’s known lithium reserves. The company’s pilot plant, which started last year, has confirmed that its technology can recover 90% or more of the lithium in brine while using much less energy, water and land than existing processes.
EnergyX plans to use the new funding to construct five larger demonstration plants in North America and South America. General Motors will also help develop, refine, and deploy EnergyX’s technology &#8211; as part of the investment.
“EnergyX is developing a novel Direct Lithium Extraction process that’s not only cost competitive but also will reduce energy, land and water usage compared to the current extraction and processing process for brine-based Lithium,” said Jeff Morrison, GM vice president of Global Purchasing and Supply Chain.
“This single bottleneck (a massive lithium shortage) is the biggest challenge to scaling EV production. We will unlock lithium supply in the U.S., a pivotal move in expanding the EV industry. There are many ways of gauging success, but few are more rewarding than the support of leaders like GM”, said Teague Egan, CEO of EnergyX.
GM is investing in every stage of the battery supply chain in North America, from raw materials to processing, to cell components and full battery cell production. The company has committed to invest $35 billion in EVs and autonomous vehicles (AVs) through 2025.
According to Mercom’s Annual And Q4 2022 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2022-funding-ma-report-for-storage-grid-efficiency">Report</a> for Storage, Grid &amp; Efficiency. VC funding for energy storage companies decreased by 34%, with $5.8 billion in 2022 compared to $8.8 billion in 2021.

energyx

Get the most relevant India solar and clean energy news.

RECENT POSTS