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

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-gs-power-partners-secures-250-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
GS Power Partners, an independent power producer and solar project developer backed by CVC DIF, <a href="https://mercomcapital.com/gs-power-partners-secures-250-million-debt-financing/" target="_blank" rel="noopener">closed</a> a $250 million debt facility. Deutsche Bank acted as lead lender and arranger and is responsible for syndicating the transaction. The facility will be used to establish a centralized corporate capital platform to support GS Power’s development pipeline and long-term growth strategy.
Leapting, a company that provides intelligent robotic solutions for photovoltaic energy, <a href="https://mercomcapital.com/leapting-raises-over-14-5-million-pre-series-b-funding-round/" target="_blank" rel="noopener">secured</a> more than 100 million yuan (~$14.5 million) in a pre-series B funding round. The funding round included Capital Today as a strategic shareholder and introduced Long Capital as a new investor. Existing shareholder Clory Ventures also participated, marking its fourth consecutive round of investment in the company.
Vietnam-based rooftop solar solution provider SmartSolar <a href="https://mercomcapital.com/rooftop-solar-company-smartsolar-raises-1-3-million-debt-financing/" target="_blank" rel="noopener">closed</a> a $1.3 million debt financing round, bringing its total funding to $3.15 million through a mix of equity and debt. The latest funding round included a $300,000 senior loan from the SECO Startup Fund. In addition, the German travel company SKR Reisen provided SmartSolar with a $1 million debt facility.
Good Energy, a renewable energy supplier and energy service provider, <a href="https://mercomcapital.com/good-energy-acquires-solar-panel-installer-low-energy-services/" target="_blank" rel="noopener">acquired</a> Low Energy Services, an installer of solar panels and battery storage systems for commercial and industrial customers. Following the acquisition, Low Energy Services will be integrated under the Good Energy brand, adding a skilled team and helping to extend Good Energy’s geographical footprint beyond England.
Integrated infrastructure services company Bluspring Enterprises <a href="https://www.mercomindia.com/bluspring-acquires-steag-india-unit-to-strengthen-energy-services" target="_blank" rel="noopener">announced</a> that its wholly owned subsidiary, Bluspring New Horizon One, has executed a share purchase agreement with Germany-based STEAG Energy and STEAG Energy Services India (SESI) to acquire 100% of the latter’s paid-up share capital for a cash consideration of ₹1.8 billion (~$19.28 million). Bluspring stated that the acquisition aligns with its strategy to expand its industrial vertical and strengthen its presence in the power services segment.
Energy Storage Solutions provider ILJIN Electronics plans to <a href="https://www.mercomindia.com/iljin-electronics-to-raise-%E2%82%B92-96-billion-from-amber-group-through-rights-issue" target="_blank" rel="noopener">raise</a> ₹2.96 billion (~$31.79 million) from its parent company, Amber Group, through a rights issue. Upon completion of the transaction, Amber will hold an 89.72% share in ILJIN Electronics, an increase of 0.04%. The capital infusion will help IL JIN accomplish its strategic initiatives. The rights issue process, including the allotment of equity shares to eligible equity shareholders, is expected to close on or before April 30, 2026.
Global investment firm KKR will <a href="https://www.mercomindia.com/kkr-to-invest-up-to-310-million-in-e-bus-companies-allfleet-and-pmi-electro" target="_blank" rel="noopener">invest</a> up to $310 million (~₹28.63 billion) and form a partnership with electric bus (e-bus) platform Allfleet and e-bus manufacturer PMI Electro. The investment will enable KKR to acquire a majority stake in Allfleet and a minority stake in PMI Electro. The transaction is expected to be completed in mid- 2026. KKR’s investment will strengthen Allfleet’s ability to collaborate with public transport authorities to expand e-bus fleets across key cities.
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-mga-thermal-secures-12-million" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: GS Power Partners Secures $250 Million

<a href="https://gspowerpartners.com/" target="_blank" rel="noopener">GS Power Partners</a>, an independent power producer and solar project developer backed by CVC DIF, has closed a $250 million debt facility.
Deutsche Bank acted as lead lender and arranger and is responsible for syndicating the transaction. Deutsche Bank Trust Company Americas served as the administrative agent, and Wilmington Trust served as the collateral agent.
The facility will be used to establish a centralized corporate capital platform that is expected to support GS Power’s development pipeline and long-term growth strategy.
The funding also enables the company to continue to advance projects through key development and pre-construction milestones and allocate capital dynamically to high-value opportunities.
“GS Power Partners has built a strong platform in the distributed generation clean energy sector,” said Jeremy Eisman, Head of Infrastructure and Energy Financing at Deutsche Bank. “Our investment reflects our confidence in the GS Power team and their ability to scale high-quality renewable energy projects. Deutsche Bank is proud to support their continued growth.”
Marathon Capital acted as the company’s financial adviser, while Morgan, Lewis &amp; Bockius served as legal counsel to GS Power Partners. White &amp; Case acted as legal counsel to Deutsche Bank.
Since 2015, the company has focused on project development in the distributed generation solar sector. It owns and operates a solar portfolio of over 400 MW, primarily located in the Northeast and Midwest, serving commercial, industrial, and community customers.
In March 2025, the company secured a $22 million term financing commitment from Amalgamated Bank. The financing package encompasses five GS Power Partners community solar projects in New York, totaling 25.5 MWdc.
According to Mercom’s Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, announced debt financing came to $16.1 billion in 2025, 14% lower compared to $18.8 billion in 2024. Securitization deals totaled $3.4 billion across nine deals.
In December, Qair, an independent renewable energy producer, announced the <a href="https://cms.mercomindia.com/qair-secures-282-million-syndicated-loan/" target="_blank" rel="noopener">closing</a> of its inaugural syndicated loan totaling €240 million (~$282 million). The loan was concluded with a consortium of 10 leading international banks, with Natixis Corporate &amp; Investment Banking (Natixis CIB) acting as sole coordinator and documentation agent.

GS Power Partners Secures $250 Million Debt Financing

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