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

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

<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/2025/12/amazon_polly_88300.mp3?version=1766554484">
			</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-alphabet-acquire-intersect-4-7-billion/" target="_blank" rel="noopener">Mercom Capital Group</a>
Alphabet, the parent company of Google, entered into a definitive agreement to <a href="https://mercomcapital.com/googles-parent-company-alphabet-to-acquire-intersect-for-4-7-billion/" target="_blank" rel="noopener">acquire</a> Intersect, a data center and energy infrastructure solutions provider, for $4.75 billion in cash, plus the assumption of debt. The acquisition will allow more data center and generation capacity to come online faster. Google already owns a minority stake in Intersect from a previously announced funding round.
Fuse Energy, a renewable energy and EV charging solutions provider, has <a href="https://mercomcapital.com/fuse-energy-secures-70-million-in-series-b-funding/" target="_blank" rel="noopener">secured</a> $70 million in Series B funding led by Balderton and Lowercarbon Capital. The investment has increased the company’s valuation to $5 billion and is expected to accelerate the expansion of the energy network, scaling grids across global markets and launching supply operations in countries such as the U.S., Ireland, and Spain.
Guoxia Technology, a China-based company that provides AI-driven energy storage products and renewable energy solutions, has <a href="https://mercomcapital.com/energy-storage-company-guoxia-technology-announces-hong-kong-ipo-listing/" target="_blank" rel="noopener">announced</a> its listing on the main board of the Hong Kong Stock Exchange (HKEX) under the stock code 02655.HK, raising approximately $78 million.  According to the company, the funds raised will primarily be used to advance research and development of core AI-based smart energy storage technologies, establish an overseas operations and service network, and increase product production capacity.
Otovo, a home energy service provider in the U.S. and Europe, has <a href="https://mercomcapital.com/otovo-acquires-select-assets-of-soly-holding/" target="_blank" rel="noopener">entered</a> into a definitive agreement to acquire select assets of Soly Holding, a Netherlands-based residential solar company with operations across the Netherlands, Belgium, Germany, Austria, Italy, and the U.K. The transaction is expected to close in December 2025, subject to final documentation, with no regulatory approvals required.
Inox Clean Energy has announced it is acquiring renewable energy platform Vibrant Energy from Macquarie Corporate Holdings and its other shareholders. Inox has <a href="https://www.mercomindia.com/inox-clean-to-acquire-macquarie-owned-vibrant-energy" target="_blank" rel="noopener">signed</a> definitive agreements for the acquisition. Standard Chartered Bank was the exclusive advisor to Macquarie Group on this transaction. The companies did not disclose the deal value. Vibrant Energy has a portfolio of 1.3 GW of renewable energy projects out of which 800 MW is operational.
Waaree Energies’ subsidiary, Waaree Solar Americas, will <a href="https://www.mercomindia.com/waaree-to-buy-stake-in-polysilicon-manufacturer-united-solar-for-30-million" target="_blank" rel="noopener">buy</a> 53,68,551 Series B shares of polysilicon manufacturer United Solar Holding for $30 million. The proposed investment, for which the two companies signed a binding term sheet, will help strengthen Waaree’s long-term, secure, and fully traceable polysilicon supply chain to support its expanding U.S. and global manufacturing footprint.
Module manufacturer Alpex Solar’s board of directors has approved <a href="https://www.mercomindia.com/alpex-solar-to-raise-%E2%82%B91-25-billion-through-issue-of-debentures" target="_blank" rel="noopener">raising</a> ₹1.25 billion (~$13.8 million) through the issuance of secured, redeemable, unlisted, unrated, and non-convertible debentures (NCDs). Alpex will issue 12,500 NCDs, each with a face value of ₹100,000 (~$1,107.83). The NCDs will carry a coupon rate of 14.75% per annum, payable monthly. The NCDs carry an extra layer of security in the form of subservient charges.
The board of directors of renewable energy solutions provider KPI Green Energy has approved a proposal to <a href="https://www.mercomindia.com/kpi-green-to-raise-%E2%82%B94-75-billion-from-promoter-group-quyosh-energia" target="_blank" rel="noopener">raise</a> ₹4.75 billion (~$52.99 million) by issuing 10.1 million fully convertible equity warrants to the promoter group entity Quyosh Energia. Quyosh Energia holds 500 shares of KPI Green Energy, and after the full conversion of warrants, its shareholding in KPI Green would rise to 4.87%.
Waste management agency GEM Enviro Management’s board of directors has <a href="https://www.mercomindia.com/gem-enviro-acquire-majority-stake-solluz-energy-50-million" target="_blank" rel="noopener">approved</a> the acquisition of a 50.10% equity stake in Solluz Energy for a cash consideration of ₹50 million (~$550,087). The acquisition will be executed through a share subscription agreement and is expected to be completed on or before January 31, 2026, subject to customary approvals and conditions. GEM Enviro plans to expand its footprint in the renewable energy segment with this acquisition.
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’s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-sun-king-secures-40-million" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Alphabet to Acquire Intersect for $4.7 Billion

Alphabet, the parent company of Google, entered into a definitive agreement to <a href="https://cms.mercomindia.com/googles-parent-company-alphabet-to-acquire-intersect-for-4-7-billion/" target="_blank" rel="noopener">acquire</a> Intersect, a data center and energy infrastructure solutions provider, for $4.75 billion in cash, plus the assumption of debt. The acquisition will allow more data center and generation capacity to come online faster. Google already owns a minority stake in Intersect from a previously announced funding round.
Fuse Energy, a renewable energy and EV charging solutions provider, has <a href="https://cms.mercomindia.com/fuse-energy-secures-70-million-in-series-b-funding/" target="_blank" rel="noopener">secured</a> $70 million in Series B funding led by Balderton and Lowercarbon Capital. The investment has increased the company’s valuation to $5 billion and is expected to accelerate the expansion of the energy network, scaling grids across global markets and launching supply operations in countries such as the U.S., Ireland, and Spain.
Guoxia Technology, a China-based company that provides AI-driven energy storage products and renewable energy solutions, has <a href="https://cms.mercomindia.com/energy-storage-company-guoxia-technology-announces-hong-kong-ipo-listing/" target="_blank" rel="noopener">announced</a> its listing on the main board of the Hong Kong Stock Exchange (HKEX) under the stock code 02655.HK, raising approximately $78 million.  According to the company, the funds raised will primarily be used to advance research and development of core AI-based smart energy storage technologies, establish an overseas operations and service network, and increase product production capacity.
Otovo, a home energy service provider in the U.S. and Europe, has <a href="https://cms.mercomindia.com/otovo-acquires-select-assets-of-soly-holding/" target="_blank" rel="noopener">entered</a> into a definitive agreement to acquire select assets of Soly Holding, a Netherlands-based residential solar company with operations across the Netherlands, Belgium, Germany, Austria, Italy, and the U.K. The transaction is expected to close in December 2025, subject to final documentation, with no regulatory approvals required.
Inox Clean Energy has announced it is acquiring renewable energy platform Vibrant Energy from Macquarie Corporate Holdings and its other shareholders. Inox has <a href="https://www.mercomindia.com/inox-clean-to-acquire-macquarie-owned-vibrant-energy" target="_blank" rel="noopener">signed</a> definitive agreements for the acquisition. Standard Chartered Bank was the exclusive advisor to Macquarie Group on this transaction. The companies did not disclose the deal value. Vibrant Energy has a portfolio of 1.3 GW of renewable energy projects out of which 800 MW is operational.
Waaree Energies’ subsidiary, Waaree Solar Americas, will <a href="https://www.mercomindia.com/waaree-to-buy-stake-in-polysilicon-manufacturer-united-solar-for-30-million" target="_blank" rel="noopener">buy</a> 53,68,551 Series B shares of polysilicon manufacturer United Solar Holding for $30 million. The proposed investment, for which the two companies signed a binding term sheet, will help strengthen Waaree’s long-term, secure, and fully traceable polysilicon supply chain to support its expanding U.S. and global manufacturing footprint.
Module manufacturer Alpex Solar’s board of directors has approved <a href="https://www.mercomindia.com/alpex-solar-to-raise-%E2%82%B91-25-billion-through-issue-of-debentures" target="_blank" rel="noopener">raising</a> ₹1.25 billion (~$13.8 million) through the issuance of secured, redeemable, unlisted, unrated, and non-convertible debentures (NCDs). Alpex will issue 12,500 NCDs, each with a face value of ₹100,000 (~$1,107.83). The NCDs will carry a coupon rate of 14.75% per annum, payable monthly. The NCDs carry an extra layer of security in the form of subservient charges.
The board of directors of renewable energy solutions provider KPI Green Energy has approved a proposal to <a href="https://www.mercomindia.com/kpi-green-to-raise-%E2%82%B94-75-billion-from-promoter-group-quyosh-energia" target="_blank" rel="noopener">raise</a> ₹4.75 billion (~$52.99 million) by issuing 10.1 million fully convertible equity warrants to the promoter group entity Quyosh Energia. Quyosh Energia holds 500 shares of KPI Green Energy, and after the full conversion of warrants, its shareholding in KPI Green would rise to 4.87%.
Waste management agency GEM Enviro Management’s board of directors has <a href="https://www.mercomindia.com/gem-enviro-acquire-majority-stake-solluz-energy-50-million" target="_blank" rel="noopener">approved</a> the acquisition of a 50.10% equity stake in Solluz Energy for a cash consideration of ₹50 million (~$550,087). The acquisition will be executed through a share subscription agreement and is expected to be completed on or before January 31, 2026, subject to customary approvals and conditions. GEM Enviro plans to expand its footprint in the renewable energy segment with this acquisition.
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-sun-king-secures-40-million/" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.fuseenergy.com/" target="_blank" rel="noopener">Fuse Energy</a>, a renewable energy and EV charging solutions provider, has secured $70 million in Series B funding led by Balderton and Lowercarbon Capital.
The investment has increased the company&#8217;s valuation to $5 billion and is expected to accelerate the expansion of the energy network, scaling grids across global markets and launching supply operations in countries such as the U.S., Ireland, and Spain.
“From source to socket, we are simplifying the entire energy system by bringing every stage in-house. Combined with a relentless focus on efficiency and execution, we&#8217;re solving problems no one else can. This new capital and continued investor demand reinforce that we&#8217;re building one of the defining companies of the next decade,&#8221; said Alan Chang, Co-founder and CEO, Fuse Energy.
The company is also planning to develop 1 TW of solar, wind, and storage projects worldwide, introduce a plug-and-play solar-battery kit, and roll out its intelligent home energy operating system.
“Europe needs sustainable, scalable, and resilient power to support the next wave of technological and economic growth, as AI accelerates and energy demand rises,” said Daniel Waterhouse, General Partner, Balderton.
In 2022, the company <a href="https://www.balderton.com/news/tesseract-raises-78-million-to-fix-the-broken-energy-sector/" target="_blank" rel="noopener">raised</a> $78 million from Balderton and Lakestar, with additional participation from Accel, Creandum, Lowercarbon, Ribbit, and BoxGroup, as well as several strategic angels.
According to Mercom&#8217;s 9M and Q3 2025 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/9m-q3-2025-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, in 9M 2025, VC funding activity decreased 17% YoY, with $2.9 billion raised in 55 deals compared to the $3.5 billion raised in 39 deals in 9M 2024. Solar downstream companies led financing activity with 40 deals worth $2.5 billion in 9M 2025.
In November, Solfium, a company that provides integrated solar energy solutions, <a href="https://mercomcapital.com/solar-tech-company-solfium-raises-7-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> the initial $7 million equity investment in its $10 million Series A funding round. The funding was led by Accion and ALIVE Ventures, with participation from Kamay Ventures.

Fuse Energy Secures $70 Million in Series B Funding

fuse-energy

Get the most relevant India solar and clean energy news.

RECENT POSTS