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

Solar Module Capacity Under ALMM Grows to 215.5 GW

PFC Awards Project to Evacuate 3 GW of Renewables in Andhra Pradesh

Storage, Engineering, and Service Become Distributed Solar’s Growth Drivers

Daily News Wrap-Up: MNRE Proposes Uniform Solar Cell Nomenclature

MENA Weekly Round-Up: Egypt Signs PPA with Alcazar for 407 MW Wind Project

Solar Tender and Auction Activity Declines in Q2 2026

MNRE Proposes Standardized Nomenclature for Solar Cells Under ALMM List II

India Can Build a Complete Solar Manufacturing Ecosystem Within Five Years: Interview

Green Hydrogen and Storage Key to Curbing Renewables Curtailment: Interview

Ekoenergetyka, a manufacturer of EV chargers, has <a href="https://cms.mercomindia.com/ev-charger-maker-ekoenergetyka-secures-170-million-loan/" target="_blank" rel="noopener">secured</a> a loan of PLN 691 million (~$170 million) from Bank Pekao, which is the leader and agent of the consortium. The funding will provide the company with the opportunity for further development both in the area of international expansion across Europe and in the area of planned ambitious investments. Upon meeting certain conditions, the loan amount can also be increased up to PLN741 million (~$183 million).
Swift Solar, a company that designs and manufactures Perovskite-based photovoltaic cells, <a href="https://cms.mercomindia.com/swift-solar-raises-27-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> $27 million in a Series A funding round co-led by Eni Next, Eni’s corporate venture capital arm, and Fontinalis Partners, a mobility and deep tech VC firm that invests in startup companies. With this funding round, the company has raised a total of $44 million.
Gorilla, a clean energy provider of data-driven solutions, has <a href="https://www.gorilla.co/en" target="_blank" rel="noopener">closed</a> €23 million (~$25 million) in a Series B funding round led by global venture capital firm Headline, with existing investors including Beringea and the Flemish investment company PMV. Gorilla offers solutions for utility companies to help maximize efficiency, understand energy portfolios influenced by distributed energy resources such as solar panels, wind turbines, and battery storage, ensure operational stability, and develop pricing strategies based on individual usage patterns.
UNIGRID, a provider of sodium-based battery solutions, <a href="https://cms.mercomindia.com/sodium-ion-battery-startup-unigrid-secures-12-million/" target="_blank" rel="noopener">raised</a> $12 million in an oversubscribed Series A funding round. The round was co-led by Transition VC and Ritz Venture Capital and joined by new investor Union Square Ventures. Existing investor Foothill Ventures also participated in this round. The company stated that this investment would accelerate and scale up its battery production to a megawatt-scale to satisfy the customer demand for electric mobility and stationary storage markets.
Samara, a provider of solar and energy storage solutions for households, <a href="https://cms.mercomindia.com/solar-energy-startup-samara-closes-10-million-series-a-funding/" target="_blank" rel="noopener">secured</a> a €9 million (~$10 million) in Series A funding round. With this funding, the company plans to expand its services, develop new products, and reach larger market segments with its financing solutions. This round was led by Green Generation Fund and Move Energy, accompanied by impact funds Ring Capital and Athletico Ventures.
Princeton NuEnergy, a provider of battery recycling solutions, <a href="https://cms.mercomindia.com/princeton-nuenergy-closed-oversubscribed-funding/" target="_blank" rel="noopener">closed</a> $30 million in an oversubscribed Series A funding round with a strategic investment from Samsung Venture Investment Corporation, Samsung&#8217;s corporate venture arm, investing in breakthrough technologies across industries and from Helium-3 Ventures. The funding brings the total amount raised by the company to over $55 million, including multiple U.S. Department of Energy grants totaling $18 million and a $7.9 million seed and angel rounds.
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-vulcan-energy-resources-secures/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: EV Charger Manufacturer Ekoenergetyka Secures $170 Million

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-ev-charger-manufacturer-ekoenergetyka-secures-170-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Ekoenergetyka, a manufacturer of EV chargers, has <a href="https://mercomcapital.com/ev-charger-maker-ekoenergetyka-secures-170-million-loan/" target="_blank" rel="noopener">secured</a> a loan of PLN 691 million (~$170 million) from Bank Pekao, which is the leader and agent of the consortium. The funding will provide the company with the opportunity for further development both in the area of international expansion across Europe and in the area of planned ambitious investments. Upon meeting certain conditions, the loan amount can also be increased up to PLN741 million (~$183 million).
Swift Solar, a company that designs and manufactures Perovskite-based photovoltaic cells, <a href="https://mercomcapital.com/swift-solar-raises-27-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> $27 million in a Series A funding round co-led by Eni Next, Eni’s corporate venture capital arm, and Fontinalis Partners, a mobility and deep tech VC firm that invests in startup companies. With this funding round, the company has raised a total of $44 million.
Gorilla, a clean energy provider of data-driven solutions, has <a href="https://mercomcapital.com/energy-data-startup-gorilla-raises-25-million-in-series-b-funding/" target="_blank" rel="noopener">closed</a> €23 million (~$25 million) in a Series B funding round led by global venture capital firm Headline, with existing investors including Beringea and the Flemish investment company PMV. Gorilla offers solutions for utility companies to help maximize efficiency, understand energy portfolios influenced by distributed energy resources such as solar panels, wind turbines, and battery storage, ensure operational stability, and develop pricing strategies based on individual usage patterns.
UNIGRID, a provider of sodium-based battery solutions, <a href="https://mercomcapital.com/sodium-ion-battery-startup-unigrid-secures-12-million/" target="_blank" rel="noopener">raised</a> $12 million in an oversubscribed Series A funding round. The round was co-led by Transition VC and Ritz Venture Capital and joined by new investor Union Square Ventures. Existing investor Foothill Ventures also participated in this round. The company stated that this investment would accelerate and scale up its battery production to a megawatt-scale to satisfy the customer demand for electric mobility and stationary storage markets.
Samara, a provider of solar and energy storage solutions for households, <a href="https://mercomcapital.com/solar-energy-startup-samara-closes-10-million-series-a-funding/" target="_blank" rel="noopener">secured</a> a €9 million (~$10 million) in Series A funding round. With this funding, the company plans to expand its services, develop new products, and reach larger market segments with its financing solutions. This round was led by Green Generation Fund and Move Energy, accompanied by impact funds Ring Capital and Athletico Ventures.
Princeton NuEnergy, a provider of battery recycling solutions, <a href="https://mercomcapital.com/princeton-nuenergy-closed-oversubscribed-funding/" target="_blank" rel="noopener">closed</a> $30 million in an oversubscribed Series A funding round with a strategic investment from Samsung Venture Investment Corporation, Samsung&#8217;s corporate venture arm, investing in breakthrough technologies across industries and from Helium-3 Ventures. The funding brings the total amount raised by the company to over $55 million, including multiple U.S. Department of Energy grants totaling $18 million and a $7.9 million seed and angel rounds.
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-vulcan-secures-44-millionhttps:/www.mercomindia.com/funding-and-ma-roundup-vulcan-secures-44-millionhttps:/www.mercomindia.com/funding-and-ma-roundup-vulcan-secures-44-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.gorilla.co/en" target="_blank" rel="noopener">Gorilla</a>, a clean energy provider of data-driven solutions, has closed €23 million (~$25 million) in a Series B funding round led by global venture capital firm Headline, with existing investors including Beringea and the Flemish investment company PMV.
Gorilla offers solutions for utility companies to help maximize efficiency, understand energy portfolios increasingly influenced by distributed energy resources such as solar panels, wind turbines, and battery storage, ensure operational stability, and develop pricing strategies based on individual usage patterns.
The company has been working with energy retailers in the U.K., Germany, Australia, and the U.S. It will use this funding to further expand into the U.S. and German markets.
&#8220;This funding supports our expansion into major markets like the U.S. and Germany, where the energy landscape is rapidly evolving and seeing increasing demand for data-driven solutions. Take Texas, for example—electricity prices in Houston have risen by nearly 16% over the past year, with Texans paying twice as much for electricity compared to pre-pandemic prices. Since 2022, prices have remained volatile despite the low cost of the natural gas that powers much of the grid, meaning consumers have continued to experience instability in delivered prices for residences.&#8221; stated Ruben Van den Bossche, Co-founder and CEO of Gorilla.
According to Mercom&#8217;s Q1 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2024-funding-ma-report-storage-grid/" target="_blank" rel="noopener">report</a> for Storage &amp; Smart Grid, Smart Grid VC funding increased 134% in Q1 2024, with $656 million raised in 12 deals compared to $280 million in 14 deals in Q1 2023. In a QoQ comparison, funding in Q1 2024 was 197% higher compared to Q4 2023, when $221 million was raised in 10 deals.
Verse, a clean energy management platform, <a href="https://cms.mercomindia.com/clean-energy-management-platform-verse-secures-20-5-million-series-a-funding/" target="_blank" rel="noopener">recently</a> raised $20.5 million in a Series A funding round led by GV (Google Ventures) with participation from Coatue, CIV, and MCJ Collective. According to Verse, the combination of escalating costs, increased demand, stringent regulations, and expensive procedures is creating a sense of urgency and introducing new challenges that existing solutions and corporate buyers of clean energy are struggling to address.

Energy Data Startup Gorilla Raises $25 Million in Series B Funding

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