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

Solar Module Capacity Under ALMM Grows to 215.5 GW

Enviromena, a U.K.-based independent power producer, <a href="https://cms.mercomindia.com/enviromena-acquires-49-9-mw-longpasture-solar-project/" target="_blank" rel="noopener">announced</a> the acquisition of the 49.9 MW Longpasture solar project from Bluefield Solar, a London-listed income fund, and Lightrock Power, a solar project developer. The fully consented solar project, located near Darlington, County Durham, is expected to reach completion in late 2027. The project has an option for a co-located 39.7 MW battery energy storage system.
Qair, an independent renewable energy producer, <a href="https://cms.mercomindia.com/qair-secures-5-7-million-financing-for-floating-solar-project/" target="_blank" rel="noopener">secured</a> $5.7 million senior debt financing from the Facility for Energy Inclusion, managed by Cygnum Capital, an investment bank and asset management firm. The facility will support the development, building, operations, and maintenance of the 5.8 MWp Seysun Lagoon floating solar project located in the Providence Lagoon on Mahé Island in Seychelles.
New Delhi-based waste and wastewater management solutions company Enviro Infra Engineers (EIEL) has completed the <a href="https://www.mercomindia.com/enviro-infra-engineers-acquires-vento-power-infras-40-mw-solar-project" target="_blank" rel="noopener">acquisition</a> of Vento Power, a company developing a 40 MW solar power project in the Bolangir district of Odisha. The total cash consideration for the transaction was ₹1.15 billion (~$13.37 million). The acquisition was carried out through EIE Renewables, a wholly owned subsidiary of EIEL, which has entered into definitive agreements with PTC India.
Bluefield Solar (BSIF), the London-listed U.K. income fund focused primarily on acquiring and managing solar energy assets, <a href="https://cms.mercomindia.com/bluefield-solar-sells-250-mw-solar-and-storage-portfolio/" target="_blank" rel="noopener">announced</a> the sale of a portfolio of solar and storage projects totaling 250 MW to Lyceum Solar, a joint venture with 25% ownership by BSIF and 75% ownership by GLIL Infrastructure. The 75% stake acquired by GLIL in the Phase 3 portfolio amounts to £38 million (~$51 million), of which £28 million (~$38 million) is to be paid upfront following the closing of the transaction.
Foresight, an investment manager, announced that its Australian Renewables Income Fund (ARIF) <a href="https://cms.mercomindia.com/foresights-australian-renewables-income-fund-secures-453-million/" target="_blank" rel="noopener">closed</a> A$700 million (~$453 million) portfolio debt refinancing to strengthen its capital structure and support future growth. The refinancing consolidates debt across ARIF’s portfolio of ten operating renewable energy projects.
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-green-genius-solar-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Enviromena Acquires 49.9 MW Longpasture Solar Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-enviromena-acquires-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Enviromena, a U.K.-based independent power producer, <a href="https://mercomcapital.com/enviromena-acquires-49-9-mw-longpasture-solar-project/" target="_blank" rel="noopener">announced</a> the acquisition of the 49.9 MW Longpasture solar project from Bluefield Solar, a London-listed income fund, and Lightrock Power, a solar project developer. The fully consented solar project, located near Darlington, County Durham, is expected to reach completion in late 2027. The project has an option for a co-located 39.7 MW battery energy storage system.
Qair, an independent renewable energy producer, <a href="https://mercomcapital.com/qair-secures-5-7-million-financing-for-floating-solar-project/" target="_blank" rel="noopener">secured</a> $5.7 million senior debt financing from the Facility for Energy Inclusion, managed by Cygnum Capital, an investment bank and asset management firm. The facility will support the development, building, operations, and maintenance of the 5.8 MWp Seysun Lagoon floating solar project located in the Providence Lagoon on Mahé Island in Seychelles.
New Delhi-based waste and wastewater management solutions company Enviro Infra Engineers (EIEL) has completed the <a href="https://www.mercomindia.com/enviro-infra-engineers-acquires-vento-power-infras-40-mw-solar-project" target="_blank" rel="noopener">acquisition</a> of Vento Power, a company developing a 40 MW solar power project in the Bolangir district of Odisha. The total cash consideration for the transaction was ₹1.15 billion (~$13.37 million). The acquisition was carried out through EIE Renewables, a wholly owned subsidiary of EIEL, which has entered into definitive agreements with PTC India.
Bluefield Solar (BSIF), the London-listed U.K. income fund focused primarily on acquiring and managing solar energy assets, <a href="https://mercomcapital.com/bluefield-solar-sells-250-mw-solar-and-storage-portfolio/" target="_blank" rel="noopener">announced</a> the sale of a portfolio of solar and storage projects totaling 250 MW to Lyceum Solar, a joint venture with 25% ownership by BSIF and 75% ownership by GLIL Infrastructure. The 75% stake acquired by GLIL in the Phase 3 portfolio amounts to £38 million (~$51 million), of which £28 million (~$38 million) is to be paid upfront following the closing of the transaction.
Foresight, an investment manager, announced that its Australian Renewables Income Fund (ARIF) <a href="https://mercomcapital.com/foresights-australian-renewables-income-fund-secures-453-million/" target="_blank" rel="noopener">closed</a> A$700 million (~$453 million) portfolio debt refinancing to strengthen its capital structure and support future growth. The refinancing consolidates debt across ARIF’s portfolio of ten operating renewable energy projects.
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-green-genius-solar-projects/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.foresight.group/private-investor" target="_blank" rel="noopener">Foresight</a>, an investment manager, announced that its Australian Renewables Income Fund (ARIF) closed A$700 million (~$453 million) portfolio debt refinancing to strengthen its capital structure and support future growth.
The refinancing consolidates debt across ARIF&#8217;s portfolio of ten operating renewable energy projects.
The portfolio facility includes a A$620 million (~$401 million) term loan and an A$80 million (~$52 million) multi-purpose facility, and will be used to refinance existing project finance debt and support ARIF&#8217;s development pipeline, further enhancing portfolio diversification.
A consortium of banks comprising ANZ, Westpac, Mizuho, HSBC, and Bank of China provided the financing. RBC Capital Markets acted as financial advisor, and White &amp; Case served as legal counsel to ARIF on the transaction.
The funding received is stated to offer improved pricing, debt sizing, and provide increased flexibility in terms relative to the existing project financing on ARIF assets.
Daniel Beaver, Portfolio Manager of ARIF, commented, &#8220;This refinancing marks a significant milestone for ARIF, reinforcing the strength and scale of our operating portfolio and establishing a funding platform to support future growth. ARIF aims to continue investing in high-quality businesses and assets supporting the energy transition across Australia and New Zealand, while maintaining our commitment to delivering attractive returns for our investors.&#8221;
ARIF currently has 787 MW of operational renewable energy projects across solar, wind, and hydro, and a pipeline of development projects.
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>, large-scale project funding increased by 65% in the first half of 2025 compared to the same period in 2024.
In August, SolAmerica Energy, a developer, owner, and operator of solar projects, <a href="https://cms.mercomindia.com/solamerica-energy-revolving-credit-facility/" target="_blank" rel="noopener">secured</a> a $100 million revolving credit facility from Deutsche Bank. The funding will be used for the development of the company&#8217;s growing portfolio of projects, including equipment such as solar modules and inverters, as well as project construction.

Foresight’s Australian Renewables Income Fund Secures $453 Million

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