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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

<a href="https://www.metlen.com/" target="_blank" rel="noopener">METLEN Energy &amp; Metals</a> (formerly MYTILINEOS), a Greek industrial conglomerate, entered into an agreement with <a href="https://www.schrodersgreencoat.com/" target="_blank" rel="noopener">Schroders Greencoat</a>, the specialist energy transition infrastructure manager of Schroders Capital, to sell a portfolio of solar projects totaling 283 MW in the U.K.
The portfolio, comprising seven projects located across England and Scotland, has been developed, constructed, and commercially structured by METLEN. In the portfolio, 143 MW of projects are in operation and mechanically complete, while 140 MW are currently under construction, with commercial operation expected in the second quarter of 2026.
Vodafone and Engie have signed long-term offtake agreements for the clean electricity generated by the projects, ensuring stable cash flow and revenue visibility.
Duncan Hale, Portfolio Manager, Schroders Greencoat, said, &#8220;This acquisition represents a significant milestone for both Schroders Greencoat and U.K. pension savers. In our view, by adding these high-quality, income-generating solar assets to our portfolio, we are aiming to provide U.K. pension savers the opportunity to support the U.K.’s transition to a low-carbon future, whilst also enabling them to benefit from stable returns in a strategically vital sector. We are really pleased to be working with METLEN again and hope to continue building on this successful relationship.”
Akereos Capital served as the financial advisor, while Pinsent Masons acted as METLEN&#8217;s legal advisor on the transaction.
This acquisition marks the second transaction between METLEN and Schroders, following the acquisition of a 110 MW solar portfolio in the U.K. in 2024.
In February, METLEN <a href="https://cms.mercomindia.com/metlen-closes-over-19-million-financing-bicinicco-solar-project/" target="_blank" rel="noopener">raised</a> €16.6 million (~$19.9 million) in project financing to support the development of the 20.75 MW Bicinicco solar project in the Friuli Venezia Giulia region of northern Italy.
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>, approximately 37.4 GW of solar projects were acquired in 2025, compared to 37.7 GW in 2024.
In another project acquisition, TerraForm Power, an affiliate of Brookfield Asset Management and a North American renewable energy company, <a href="https://cms.mercomindia.com/terraform-power-acquires-1-56-gw-steward-creek-solar-project/" target="_blank" rel="noopener">acquired</a> the 1.56 GW Steward Creek solar project under development in Lee County, Illinois, from its developer, Hexagon Energy.

METLEN Sells 283 MW Solar Portfolio in the UK

<a href="https://www.metlengroup.com/" target="_blank" rel="noopener">METLEN Energy &amp; Metals</a> (previously known as MYTILINEOS), a Greek industrial conglomerate, announced the completion of the sale of its portfolio of four operational solar projects in Chile totaling 588 MW supported by co-located battery energy storage systems with a capacity of 1,610 MWh.
The transaction with GAC RS Chile II, a subsidiary of Glenfarne, signed in April 2025, is a part of METLEN&#8217;s global Asset Rotation Plan. With the fulfilment of certain conditions, the deal amounts to a total consideration of $865 million.
Glenfarne Chief Executive Officer and Founder Brendan Duval said, &#8220;With this acquisition, Glenfarne is increasing the technology diversity of our infrastructure by adding battery capacity and increasing geographic and revenue diversification. METLEN has been a terrific partner throughout this transaction, and our common focus on energy security and sustainability creates opportunities for future cooperation in Glenfarne&#8217;s businesses across the Americas.&#8221;
The company had previously <a href="https://cms.mercomindia.com/metlen-sells-42-mw-solar-project-portfolio-in-south-korea/" target="_blank" rel="noopener">entered</a> into an agreement in October 2025 under which HRE will acquire a diversified portfolio of solar projects in South Korea totaling 42 MW. METLEN built phase 1 of the renewable energy portfolio.
Additionally, in January 2025, METLEN <a href="https://cms.mercomindia.com/metlen-secures-71-million-financing-for-solar-portfolio-in-italy/" target="_blank" rel="noopener">secured</a> €67.9 million (~$71.22 million) in financing to support the construction and development of a solar project portfolio with a total capacity of 71.5 MW in Italy. The portfolio comprises five large-scale solar projects located in strategically important regions, including Emilia Romagna, Lazio, Campania, and Puglia.
In the first nine months of 2025, approximately 29 GW of solar projects were acquired compared to 28.3 GW in 9M 2024, according to Mercom&#8217;s 9M and Q3 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2025-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>.
In December 2025, Orrön Energy, an independent renewable energy company, <a href="https://cms.mercomindia.com/orron-energy-sells-234-mw-solar-projects-in-germany/" target="_blank" rel="noopener">entered</a> into an agreement with Gülermak Renewables Deutschland Holding, a subsidiary of Gülermak Renewables, to sell 234 MW of solar projects in Germany for a total consideration of up to MEUR 14 (~$16 million). The portfolio consists of three solar projects.

METLEN Sells Solar Projects with Co-located BESS in Chile

<a href="https://www.metlengroup.com/" target="_blank" rel="noopener">METLEN Energy &amp; Metals</a> (previously known as MYTILINEOS), a Greek industrial conglomerate, and Korean energy investment and development company HRE, entered into an agreement under which HRE will acquire a diversified portfolio of solar projects in South Korea totaling 42 MW. Phase 1 of the renewable energy portfolio was built by METLEN.
The portfolio comprises five operational and under-development solar projects that, together, will produce over 60 GWh of clean electricity each year, sufficient to power more than 12,000 Korean households. The operational assets are backed by long-term power purchase agreements (PPAs) with major Korean conglomerates, enhancing their strategic and commercial appeal.
In addition to this transaction, METLEN and HRE are further exploring a strategic partnership for the former&#8217;s project pipeline in South Korea, including utility-scale solar, battery energy storage systems, and green-powered data centers.
METLEN entered the South Korean market in 2022 by constructing a solar project in Yangpyeong-gun.
Nikos Papapetrou, Executive Director of METLEN&#8217;s M Renewables segment, stated, &#8220;This agreement with HRE underscores METLEN&#8217;s long-term commitment to the South Korean market and the strength of our renewables platform in East Asia. It reflects the trust we have built through the successful development of high-quality solar projects and marks another step in expanding our presence in one of the most dynamic energy markets in the region.&#8221;
Earlier this Month, METLEN and the Karatzis Group of Companies entered into a new strategic partnership to develop, construct, operate, and manage a 330 MW/790 MWh battery energy storage project in Thessaly, Greece.
In January 2025, METLEN <a href="https://cms.mercomindia.com/metlen-secures-71-million-financing-for-solar-portfolio-in-italy/" target="_blank" rel="noopener">secured</a> €67.9 million (~$71.22 million) in financing to support the construction and development of a solar project portfolio totaling 71.5 MW in Italy. The portfolio comprises five large-scale solar projects located in strategically important regions, including Emilia-Romagna, Lazio, Campania, and Puglia. It is expected to be completed by the end of this year.
In the first nine months of 2025, approximately 29 GW of solar projects were acquired compared to 28.3 GW in 9M 2024, according to Mercom&#8217;s recently released 9M and Q3 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2025-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>.

METLEN Sells 42 MW Solar Project Portfolio in South Korea

Zelestra, a renewable energy project developer, <a href="https://cms.mercomindia.com/zelestra-secures-113-million-for-81-mw-solar-project/" target="_blank" rel="noopener">secured</a> a $113 million project financing credit facility for the 81 MW Jasper County solar project in Jasper County, Indiana. Banco Santander acted as the sole arranger of the Facility. The project has long-term environmental attributes purchase agreement with Meta and is expected to be fully operational in Q4 2025.
Standard Solar, a community solar developer and asset owner, <a href="https://cms.mercomindia.com/standard-solar-acquires-39-mw-community-solar-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a 39 MW community solar portfolio in Illinois from New Leaf Energy, a clean energy project developer. The acquired portfolio comprises five community solar projects in towns across Illinois: Blackstone, Braceville, Dwight, Seneca, and Wadsworth.
Limes Renewable Energy, a developer of solar, wind, and energy storage projects, has completed the <a href="https://cms.mercomindia.com/limes-renewable-energy-sells-solar-wind-portfolio/" target="_blank" rel="noopener">sale</a> of a 287 MW solar and wind project portfolio in Italy to an undisclosed international independent power producer. The portfolio sold is split equally between solar PV and wind projects, with 50 MWp of solar PV projects already authorized.
Nexamp, a solar and energy storage project developer, <a href="https://cms.mercomindia.com/nexamp-secures-340-million-in-refinancing-for-solar-and-storage-project-portfolio/" target="_blank" rel="noopener">secured</a> a $340 million private placement debt refinancing with PGIM Private Capital, the private credit business of global asset manager PGIM. The financing will be used to support solar and storage projects across multiple states over the next three years. The refinancing covers a portfolio of 39 solar projects in seven states, representing 150 MW of solar and 37 MWh of storage capacity.
METLEN Energy &amp; Metals (METLEN), a Greek-based industrial and energy group and a wholly owned subsidiary of Glenfarne Asset Company (Glenfarne) has <a href="https://cms.mercomindia.com/glenfarne-to-acquire-solar-plus-storage-project-portfolio-in-chile/" target="_blank" rel="noopener">entered</a> into an agreement for Glenfarne to acquire a portfolio of Solar and Battery Energy Storage System assets in Chile. The transaction involves 588 MW of operational solar projects combined with 1,610 MWh of co-located BESS facilities.
Atlas Renewable Energy, a solar and wind project developer, <a href="https://cms.mercomindia.com/atlas-renewable-energy-secures-financing-estepa-project/" target="_blank" rel="noopener">secured</a> $510 million in financing for the construction and development of the Estepa Project in Chile. The Estepa project will be a hybrid project consisting of a 215 MW solar project with an estimated generation of 600 GWh per year. The project also includes two battery storage projects with a 418 MW capacity, equivalent to four hours of energy generation. The project is expected to begin commercial operation by the end of 2026.
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-spearmint-energy-bess-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Zelestra Secures $113 Million for 81 MW Solar Project

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-zelestra-secures-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Zelestra, a renewable energy project developer, <a href="https://mercomcapital.com/zelestra-secures-113-million-for-81-mw-solar-project/" target="_blank" rel="noopener">secured</a> a $113 million project financing credit facility for the 81 MW Jasper County solar project in Jasper County, Indiana. Banco Santander acted as the sole arranger of the Facility. The project has long-term environmental attributes purchase agreement with Meta and is expected to be fully operational in Q4 2025.
Standard Solar, a community solar developer and asset owner, <a href="https://mercomcapital.com/standard-solar-acquires-39-mw-community-solar-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a 39 MW community solar portfolio in Illinois from New Leaf Energy, a clean energy project developer. The acquired portfolio comprises five community solar projects in towns across Illinois: Blackstone, Braceville, Dwight, Seneca, and Wadsworth.
Limes Renewable Energy, a developer of solar, wind, and energy storage projects, has completed the <a href="https://mercomcapital.com/limes-renewable-energy-sells-solar-wind-portfolio/" target="_blank" rel="noopener">sale</a> of a 287 MW solar and wind project portfolio in Italy to an undisclosed international independent power producer. The portfolio sold is split equally between solar PV and wind projects, with 50 MWp of solar PV projects already authorized.
Nexamp, a solar and energy storage project developer, <a href="https://mercomcapital.com/nexamp-secures-340-million-in-refinancing-for-solar-and-storage-project-portfolio/" target="_blank" rel="noopener">secured</a> a $340 million private placement debt refinancing with PGIM Private Capital, the private credit business of global asset manager PGIM. The financing will be used to support solar and storage projects across multiple states over the next three years. The refinancing covers a portfolio of 39 solar projects in seven states, representing 150 MW of solar and 37 MWh of storage capacity.
METLEN Energy &amp; Metals (METLEN), a Greek-based industrial and energy group and a wholly owned subsidiary of Glenfarne Asset Company (Glenfarne) has <a href="https://mercomcapital.com/glenfarne-to-acquire-solar-plus-storage-project-portfolio-in-chile/" target="_blank" rel="noopener">entered</a> into an agreement for Glenfarne to acquire a portfolio of Solar and Battery Energy Storage System assets in Chile. The transaction involves 588 MW of operational solar projects combined with 1,610 MWh of co-located BESS facilities.
Atlas Renewable Energy, a solar and wind project developer, <a href="https://mercomcapital.com/atlas-renewable-energy-secures-financing-estepa-project/" target="_blank" rel="noopener">secured</a> $510 million in financing for the construction and development of the Estepa Project in Chile. The Estepa project will be a hybrid project consisting of a 215 MW solar project with an estimated generation of 600 GWh per year. The project also includes two battery storage projects with a 418 MW capacity, equivalent to four hours of energy generation. The project is expected to begin commercial operation by the end of 2026.
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-spearmint-energy-bess-projects/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.metlengroup.com/" target="_blank" rel="noopener">METLEN Energy &amp; Metals</a> (METLEN), a Greek-based industrial and energy group and a wholly owned subsidiary of <a href="https://glenfarnegroup.com/" target="_blank" rel="noopener">Glenfarne Asset Company</a> (Glenfarne) has entered into an agreement for Glenfarne to acquire a portfolio of Solar and Battery Energy Storage System assets in Chile. The acquisition is valued at $815 million, which also includes the assumption of debt and is based on certain financing assumptions and other adjustments.
Glenfarne Group is a developer, owner, and operator of energy infrastructure assets. Through its subsidiaries, the company said that it owns and operates over 50 energy infrastructure assets, including Global LNG Solutions, Grid Stability, and Renewables.
Astris Finance acted as the financial advisor, and Milbank LLP, Larrain y Asociados Ltda., acted as legal advisors to METLEN for this transaction. The transaction involves 588 MW of operational solar projects combined with 1,610 MWh of co-located BESS facilities. The BESS facilities are currently under construction and are expected to be completed within a year.
The transaction is expected to be closed when the BESS becomes operational, regulatory approvals are obtained, and certain financing and other customary conditions for this type of transaction are fulfilled.
&#8220;This transaction represents a significant step in Glenfarne&#8217;s commitment to further expanding our presence in Chile&#8217;s renewable energy sector and continued growth in our business relationships with METLEN. We&#8217;re glad to work with METLEN on this transaction, which aligns with our mission by investing in infrastructure that supports Chile&#8217;s energy transition,&#8221; said Brendan Duval, Founder and CEO of Glenfarne.
According to Mercom&#8217;s recently <a href="https://cms.mercomindia.com/product/q1-2025-solar-funding-ma-report/" target="_blank" rel="noopener">released</a> Q1 2025 Solar Funding and M&amp;A report, about 13.6 GW of solar projects were acquired in Q1 2025 compared to 10.8 GW in Q1 2024.
This week, Palladium Energy, a renewable energy project developer, <a href="https://cms.mercomindia.com/exus-acquires-solar-plus-storage-project-portfolio/" target="_blank" rel="noopener">announced</a> the sale of a 364 MW solar plus 280 MWh storage portfolio to Exus Renewables North America (Exus) through its joint venture with Arava Power, a utility-scale renewable energy project developer.

Glenfarne to Acquire Solar Plus Storage Project Portfolio in Chile

<a href="https://www.metlengroup.com/" target="_blank" rel="noopener">METLEN Energy &amp; Metals</a> (previously known as MYTILINEOS), a Greek industrial conglomerate, secured €67.9 million (~$71.22 million) in financing to support the construction and development of a solar project portfolio with a total capacity of 71.5 MW in Italy. The financing for these projects was secured through Piraeus, a Greek bank.
The portfolio comprises five large-scale solar projects located in strategically important regions, including Emilia Romagna, Lazio, Campania, and Puglia, and is expected to reach completion by the end of this year.
Once operational, the solar projects are estimated to produce approximately 135 GWh of clean electricity per year, enough to meet the energy requirements of more than 55,000 households in Italy, according to the company.
This transaction is part of the company’s broader development strategy, under which it plans to deploy more than 1.6 to 1.7 GW of solar energy capacity and 300 MW of battery energy storage systems by 2027.
The company is active in various regions of Italy, including Sicily, Sardinia, Calabria, Campania, Veneto, Lazio, Emilia-Romagna, and Abruzzo. It has a portfolio of 180 projects totaling 3.59 GW in development over the next four years.
In January 2024, Mytilineos reached the <a href="https://mercomcapital.com/mytilineos-secures-financing-588-mw-solar-portfolio-chile/" target="_blank" rel="noopener">financial</a> close for its 588 MW non-recourse solar park portfolio in Chile. The financing was secured from lenders BNP Paribas, Intesa San Paolo, Sumitomo Mitsubishi Banking Corporation, Rabobank, and Santander Chile.
According to Mercom’s Annual and Q4 2024 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding deals in 2024 totaled $53.8 billion in 259 deals, up from $44.5 billion raised in 229 deals in 2023.
Earlier this year, CCE Holding, an independent power producer, <a href="https://mercomcapital.com/cce-holding-secures-25-million-for-solar-project-in-italy/" target="_blank" rel="noopener">announced</a> the closing of €24 million (~$24.64 million) in project financing with Commerzbank, a Frankfurt-based bank. The loan will be used to construct a 42 MW solar project located in the municipality of Montalto di Castro in the Italian region of Lazio.

METLEN Secures $71 Million Financing for Solar Portfolio in Italy

<a href="https://www.westbridge.energy/" target="_blank" rel="noopener">Westbridge Renewable Energy</a> (Westbridge), a Canada-based solar project developer, announced that it closed the sale of its 75%-owned 332 MWp Sunnynook solar project in Alberta. A subsidiary of METLEN Energy &amp; Metals, formerly known as Mytilineos, acquired the solar project.
The Sunnynook project is the second to reach the ready-to-build stage in 2024. METLEN will build the solar project.
The transaction was completed by selling all the issued and outstanding shares of Sunnynook Solar Energy after Westbridge received regulatory approvals from the Alberta Utilities Commission for the construction, operation, and interconnection of the project to the Alberta Interconnected Electric System and the TSX Venture Exchange.
Westbridge received C$41,440,385 (~$29.9 million) at closing. METLEN paid 92% of the estimated purchase price at the closing and approximately 3% of the estimated base purchase price at the signing. The remaining amount will be paid once the project reaches commercial operations.
Luis Laguna, Regional Managing Director, North America – METLEN Energy &amp; Metals, stated, “We are excited to take this important step with the closing of the Sunnynook Project, marking a significant milestone for METLEN in the Canadian market. This project aligns with our strategic goal to expand our renewable energy footprint across North America and reinforces our commitment to deliver sustainable, clean energy. We look forward to continued success with Westbridge and building on our strong momentum in the sector.”
According to Mercom’s 9M and Q3 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-and-q3-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, 166 project acquisitions totaling 28.3 GW were transacted in 9M 2024 compared to the same number of project acquisitions totaling 31.6 GW in 9M 2023.
Last month, Qcells, a utility-scale solar and energy storage project developer and solar EPC provider, announced the <a href="https://cms.mercomindia.com/qcells-sells-200-mw-ursa-solar-project/" target="_blank" rel="noopener">sale</a> of Ursa Solar Project (formerly known as Langdon Mills Solar), with a total capacity of 200 MW, to We Energies, Wisconsin Public Service Corporation (WPS), and Madison Gas and Electric Company (MGE).

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