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

Matrix Renewables, a global renewable energy company, <a href="https://cms.mercomindia.com/matrix-renewables-secures-financing-for-240-mw-solar-projects-in-spain/" target="_blank" rel="noopener">signed</a> a €50 million (~$54.74 million) green loan with the European Investment Bank to support the development and construction of five solar projects in Spain. With a total installed capacity of 240 MW, the projects are located in Castilla y Leon and Extremadura. The projects are expected to reach commercial operations by the end of 2025.
CleanCapital, a mid-market renewables project financing group, <a href="https://cms.mercomindia.com/cleancapital-acquires-13-mw-solar-projects/" target="_blank" rel="noopener">announced</a> the acquisition of two fully operational solar projects totaling 13 MW. BQ Energy Development has developed projects that supply clean energy to a local university, healthcare provider, and municipality in upstate New York. Both projects are financed by M&amp;T Bank’s Commercial Equipment Finance Group.
JERA Nex, a renewable energy company headquartered in London and launched by JERA, <a href="https://cms.mercomindia.com/jera-nex-acquires-395-mw-solar-projects-from-lightsource-bp/" target="_blank" rel="noopener">announced</a> the acquisition of two solar projects with a total capacity of 395 MW from Lightsource bp, a solar and energy storage project developer. The portfolio comprises the 300 MW Oxbow solar project in Louisiana and the 95 MW Happy solar project in Arkansas. Both projects are in commercial operation.
Summit Ridge Energy, a community solar project owner and operator, and HASI, an investor in climate solutions, <a href="https://cms.mercomindia.com/summit-ridge-energy-and-hasi-secure-term-loan-on-community-solar-portfolio/" target="_blank" rel="noopener">closed</a> a $309 million back-leveraged term loan on a portfolio of 80 operating community solar projects. Summit Ridge Capital Holdings, a joint venture between Summit Ridge Energy and HASI, owns the projects. The portfolio, built by Summit Ridge over the last five years, includes ground-mount and rooftop community solar projects with a total capacity of 216 MW.
Origis Energy, the provider of a vertically integrated renewable energy platform and a solar project developer, <a href="https://cms.mercomindia.com/origis-energy-secures-71-million-tax-equity-financing/" target="_blank" rel="noopener">announced</a> the close of $71 million in tax equity financing for the development of the 75 MW Rice Creek Solar project in Florida. The tax equity financing was secured from U.S. Bank subsidiary U.S. Bancorp Impact Finance, a renewable energy investor.
Renewable energy platform Blueleaf Energy <a href="https://www.mercomindia.com/blueleaf-secures-170-million-for-200-mw-wind-solar-project" target="_blank" rel="noopener">announced</a> the financial closure of its 200 MW wind-solar hybrid power project under development in Madhya Pradesh, India. The company has secured around $170 million in financing from Axis Bank for the Pachora hybrid power project and grid access at the Pachora Inter-State Transmission System substation.
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-orlen-group-solar-project-portfolio-poland/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Matrix Renewables Secures Financing for 240 MW Solar Projects

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-matrix-renewables-financing-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
Matrix Renewables, a global renewable energy company, <a href="https://mercomcapital.com/matrix-renewables-secures-financing-for-240-mw-solar-projects-in-spain/" target="_blank" rel="noopener">signed</a> a €50 million (~$54.74 million) green loan with the European Investment Bank to support the development and construction of five solar projects in Spain. With a total installed capacity of 240 MW, the projects are located in Castilla y Leon and Extremadura. The projects are expected to reach commercial operations by the end of 2025.
CleanCapital, a mid-market renewables project financing group, <a href="https://mercomcapital.com/cleancapital-acquires-13-mw-solar-projects/" target="_blank" rel="noopener">announced</a> the acquisition of two fully operational solar projects totaling 13 MW. BQ Energy Development has developed projects that supply clean energy to a local university, healthcare provider, and municipality in upstate New York. Both projects are financed by M&amp;T Bank’s Commercial Equipment Finance Group.
JERA Nex, a renewable energy company headquartered in London and launched by JERA, <a href="https://mercomcapital.com/jera-nex-acquires-395-mw-solar-projects-from-lightsource-bp/" target="_blank" rel="noopener">announced</a> the acquisition of two solar projects with a total capacity of 395 MW from Lightsource bp, a solar and energy storage project developer. The portfolio comprises the 300 MW Oxbow solar project in Louisiana and the 95 MW Happy solar project in Arkansas. Both projects are in commercial operation.
Summit Ridge Energy, a community solar project owner and operator, and HASI, an investor in climate solutions, <a href="https://mercomcapital.com/summit-ridge-energy-and-hasi-secure-term-loan-on-community-solar-portfolio/" target="_blank" rel="noopener">closed</a> a $309 million back-leveraged term loan on a portfolio of 80 operating community solar projects. Summit Ridge Capital Holdings, a joint venture between Summit Ridge Energy and HASI, owns the projects. The portfolio, built by Summit Ridge over the last five years, includes ground-mount and rooftop community solar projects with a total capacity of 216 MW.
Origis Energy, the provider of a vertically integrated renewable energy platform and a solar project developer, <a href="https://mercomcapital.com/origis-energy-secures-71-million-tax-equity-financing/" target="_blank" rel="noopener">announced</a> the close of $71 million in tax equity financing for the development of the 75 MW Rice Creek Solar project in Florida. The tax equity financing was secured from U.S. Bank subsidiary U.S. Bancorp Impact Finance, a renewable energy investor.
Renewable energy platform Blueleaf Energy <a href="https://www.mercomindia.com/blueleaf-secures-170-million-for-200-mw-wind-solar-project" target="_blank" rel="noopener">announced</a> the financial closure of its 200 MW wind-solar hybrid power project under development in Madhya Pradesh, India. The company has secured around $170 million in financing from Axis Bank for the Pachora hybrid power project and grid access at the Pachora Inter-State Transmission System substation.
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-orlen-group-solar-project-portfolio-poland/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.jeranex.com/" target="_blank" rel="noopener">JERA Nex</a>, a renewable energy company headquartered in London and launched by JERA, announced the acquisition of two solar projects with a total capacity of 395 MW from Lightsource bp, a solar and energy storage project developer.
The portfolio comprises the 300 MW Oxbow solar project in Louisiana and the 95 MW Happy solar project in Arkansas. Both projects are in commercial operation.
The Happy Solar project has a long-term power purchase agreement with Conway Corp, the city-owned utility system in Conway, Ark. The Oxbow project has long-term power purchase agreements with corporate customers, including eBay.
“We are delighted to take our first step into the US solar market by acquiring these projects. This first transaction since our recent launch is an indication of our ambitious plans to scale onshore and offshore renewables for a sustainable future; we hope to build a broader onshore renewables portfolio in the US and globally,” said Richard Scott, VP for Development and Construction Onshore at JERA Nex.
“We are proud of the successful development of these solar farms and confident that they will continue to thrive under the stewardship of JERA Nex. Lightsource bp’s involvement in their operations through asset management services will further enable a seamless experience for our important project partners,” said Emilie Wangerman, Chief Operating Officer of Lightsource bp US.
According to Mercom’s 1H and Q2 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-and-q2-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, 113 solar project acquisitions totaling 18.5 GW in 1H 2024 were transacted, compared to 116 project acquisitions totaling 25.5 GW in 1H 2023.
Earlier this week, ORLEN Wind 3, a subsidiary of the ORLEN Group, entered into a preliminary agreement with EDP Renewables Polska, a renewable energy project developer, to <a href="https://cms.mercomindia.com/orlen-group-to-acquire-280-mw-solar-project-portfolio-in-poland/" target="_blank" rel="noopener">acquire</a> two solar PV projects with a total capacity of 280 MW located in the provinces of Zielona Góra and Poznań in Poland.

JERA Nex Acquires 395 MW Solar Projects from Lightsource bp

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