CERC Rescinds Revocation of Renewable Projects’ Grid Connectivity

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

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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

France-based solar module manufacturer HoloSolis has <a href="https://cms.mercomindia.com/holosolis-secures-e220-million-for-5-gw-solar-module-plant-in-france/" target="_blank" rel="noopener">secured</a> €220 million (~$255 million) in financing for its solar panel plant in Hambach in the Moselle prefecture. The company, which claims to be building the largest solar module plant in Europe with a capacity of 5 GW, has also secured two new private partners, Calès Technologie and Forming, who have together committed an investment of €13 million (~$15 million) in the facility.
Sedgeley Solar Group, a renewable energy platform that offers capex-free solar solutions for commercial and industrial clients, <a href="https://cms.mercomindia.com/sedgeley-solar-group-raises-equity-funding/" target="_blank" rel="noopener">raised</a> $60 million in equity funding. The funding was primarily provided by Inspired Evolution’s next-generation energy transition fund, Evolution III, which invested $30 million.
Nanoramic, an energy storage and advanced materials company, <a href="https://cms.mercomindia.com/battery-materials-company-nanoramic-secures-54-million/" target="_blank" rel="noopener">secured</a> a total of $54 million for its Series 1 equity funding. This funding round included a recent investment from new partner PEP Capital, as well as continued participation from existing investors. It is intended to help the company further accelerate the global commercialization of its proprietary Neocarbonix technology.
Exowatt, a provider of thermal energy storage solutions, <a href="https://cms.mercomindia.com/thermal-energy-storage-exowatt-raises-funding/" target="_blank" rel="noopener">secured</a> an additional $50 million in funding. The investment was led by MVP Ventures and 8090 Industries, along with additional investors including the Florida Opportunity Fund, DeepWork Capital, Dragon Global, Massive VC, New Atlas Capital, BAM, Overmatch, Protagonist, StepStone, Atomic, and Bay Bridge Ventures.
Clarios, a provider of low-voltage energy storage solutions, <a href="https://cms.mercomindia.com/clarios-acquires-maxwell-technologies/" target="_blank" rel="noopener">announced</a> the acquisition of Maxwell Technologies, a manufacturer of supercapacitor cells and modules used in mobility, grid, and on-site power applications, including data centers. Clarios will operate Maxwell Technologies as an independent U.S.-based business unit. Terms of the deal remained undisclosed.
Swish Solar, a cleantech startup that provides self-cleaning solar panel technology, <a href="https://cms.mercomindia.com/swish-solar-raises-1-5-million-in-pre-seed-funding/" target="_blank" rel="noopener">raised</a> $1.5 million in an oversubscribed pre-seed funding round. The round was led by Friday Ventures, with participation from Velocity Fund, Front Row Ventures, Alif Fund, and Suno Growth. The funding is expected to support product manufacturing, AI model development, and team growth across engineering and business development as the company moves toward full commercialization.
Waaree Energy Storage Systems, the battery energy storage arm of Waaree Energies, <a href="https://www.mercomindia.com/waaree-energy-storage-raises-3-25-billion-funding-round-niveshaay" target="_blank" rel="noopener">raised</a> ₹3.25 billion (~$36.65 million) as part of a ₹10 billion (~$112.78 million) funding round led by investment firm Niveshaay. Niveshaay invested ₹1.28 billion (~$14.44 million) in the round through its Category II Niveshaay Sambhav Fund, Category III Niveshaay Hedgehogs Fund, and the newly launched dedicated collective investment vehicles Niveshaay WESS Fund.
Dispatch Energy, a provider of distributed energy solutions, fully <a href="https://cms.mercomindia.com/dispatch-energy-acquires-green-lantern-solar/" target="_blank" rel="noopener">acquired</a> Green Lantern Solar (GLS), an integrated provider, developer, owner, and operator of solar photovoltaic assets. The deal enabled the company to add over 64 solar and battery storage projects from GLS, totaling 208.9 MW, at various stages of development and operation, increasing its total portfolio to 489.5 MW.
Electric vehicle (EV) charging platform, ACS Energy, <a href="https://cms.mercomindia.com/ev-charging-firm-acs-energy-secures-%E2%82%B911-million-funding-in-pre-seed-round/" target="_blank" rel="noopener">raised</a> ₹11 million (~$124,149) in a pre-seed round from Inflection Point Ventures. The funding will be utilized to deploy over 5,000 UPI-enabled EV charging stations across Maharashtra and Gujarat using its smart AC chargers and ACS pay platforms. It will also be used to develop advanced energy management systems for high-rise buildings. The ACS Energy system utilizes AI to manage loads and ensure payments are fast and transparent.
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-ma-roundup-quino-energy-raises-10-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Sedgeley Solar Group Raises $60 Million

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-sedgeley-solar-group-raises-60-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Sedgeley Solar Group, a renewable energy platform that offers capex-free solar solutions for commercial and industrial clients, <a href="https://mercomcapital.com/sedgeley-solar-group-raises-equity-funding/" target="_blank" rel="noopener">raised</a> $60 million in equity funding. The funding was primarily provided by Inspired Evolution’s next-generation energy transition fund, Evolution III, which invested $30 million.
Nanoramic, an energy storage and advanced materials company, <a href="https://mercomcapital.com/battery-materials-company-nanoramic-secures-54-million/" target="_blank" rel="noopener">secured</a> a total of $54 million for its Series 1 equity funding. This funding round included a recent investment from new partner PEP Capital, as well as continued participation from existing investors. It is intended to help the company further accelerate the global commercialization of its proprietary Neocarbonix technology.
Exowatt, a provider of thermal energy storage solutions, <a href="https://mercomcapital.com/thermal-energy-storage-exowatt-raises-funding/" target="_blank" rel="noopener">secured</a> an additional $50 million in funding. The investment was led by MVP Ventures and 8090 Industries, along with additional investors including the Florida Opportunity Fund, DeepWork Capital, Dragon Global, Massive VC, New Atlas Capital, BAM, Overmatch, Protagonist, StepStone, Atomic, and Bay Bridge Ventures.
Clarios, a provider of low-voltage energy storage solutions, <a href="https://mercomcapital.com/clarios-acquires-maxwell-technologies/" target="_blank" rel="noopener">announced</a> the acquisition of Maxwell Technologies, a manufacturer of supercapacitor cells and modules used in mobility, grid, and on-site power applications, including data centers. Clarios will operate Maxwell Technologies as an independent U.S.-based business unit. Terms of the deal remained undisclosed.
Swish Solar, a cleantech startup that provides self-cleaning solar panel technology, <a href="https://mercomcapital.com/swish-solar-raises-1-5-million-in-pre-seed-funding/" target="_blank" rel="noopener">raised</a> $1.5 million in an oversubscribed pre-seed funding round. The round was led by Friday Ventures, with participation from Velocity Fund, Front Row Ventures, Alif Fund, and Suno Growth. The funding is expected to support product manufacturing, AI model development, and team growth across engineering and business development as the company moves toward full commercialization.
France-based solar module manufacturer HoloSolis has <a href="https://www.mercomindia.com/holosolis-secures-e220-million-for-5-gw-solar-module-plant-in-france" target="_blank" rel="noopener">secured</a> €220 million (~$255 million) in financing for its solar panel plant in Hambach in the Moselle prefecture. The company, which claims to be building the largest solar module plant in Europe with a capacity of 5 GW, has also secured two new private partners, Calès Technologie and Forming, who have together committed an investment of €13 million (~$15 million) in the facility.
Waaree Energy Storage Systems, the battery energy storage arm of Waaree Energies, <a href="https://www.mercomindia.com/waaree-energy-storage-raises-3-25-billion-funding-round-niveshaay" target="_blank" rel="noopener">raised</a> ₹3.25 billion (~$36.65 million) as part of a ₹10 billion (~$112.78 million) funding round led by investment firm Niveshaay. Niveshaay invested ₹1.28 billion (~$14.44 million) in the round through its Category II Niveshaay Sambhav Fund, Category III Niveshaay Hedgehogs Fund, and the newly launched dedicated collective investment vehicles Niveshaay WESS Fund.
Dispatch Energy, a provider of distributed energy solutions, fully <a href="https://mercomcapital.com/dispatch-energy-acquires-green-lantern-solar/" target="_blank" rel="noopener">acquired</a> Green Lantern Solar (GLS), an integrated provider, developer, owner, and operator of solar photovoltaic assets. The deal enabled the company to add over 64 solar and battery storage projects from GLS, totaling 208.9 MW, at various stages of development and operation, increasing its total portfolio to 489.5 MW.
Electric vehicle (EV) charging platform, ACS Energy, <a href="https://cms.mercomindia.com/ev-charging-firm-acs-energy-secures-%E2%82%B911-million-funding-in-pre-seed-round/" target="_blank" rel="noopener">raised</a> ₹11 million (~$124,149) in a pre-seed round from Inflection Point Ventures. The funding will be utilized to deploy over 5,000 UPI-enabled EV charging stations across Maharashtra and Gujarat using its smart AC chargers and ACS pay platforms. It will also be used to develop advanced energy management systems for high-rise buildings. The ACS Energy system utilizes AI to manage loads and ensure payments are fast and transparent.
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-quino-energy-raises-10-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.nanoramic.com/" target="_blank" rel="noopener">Nanoramic</a>, an energy storage and advanced materials company, has secured a total of $54 million for its Series 1 equity funding.
The funding round includes a recent investment from new partner PEP Capital, as well as continued participation from existing investors Samsung Ventures and Top Material. The funding also includes prior investments from co-leads General Motors Ventures and Catalus Capital, alongside ITOCHU Corporation, Fortistar Capital, and WindSail Capital Group.
This funding is intended to help the company further accelerate the global commercialization of its proprietary Neocarbonix technology.
Neocarbonix is Nanoramic’s proprietary electrode technology that offers a sustainable alternative to key limiting materials in conventional lithium-ion batteries, including NMP solvent and PFAS “forever chemicals.” The technology is designed to integrate directly into existing battery manufacturing lines, providing manufacturers with the flexibility to transition away from NMP-based electrode production without disrupting established processes.
John Cooley, Nanoramic CEO and Founder, said, &#8220;With the final closing of this round, Nanoramic has secured a portfolio of best-in-class customers and partners. These partnerships will help bring mass production of our Neocarbonix product to all major lithium-ion applications by 2027. Our asset-light model will benefit from the trading expertise of ITOCHU, the manufacturing expertise of Top Material, and the commercial prowess and broad application exposure of our most major customers including General Motors, Samsung SDI, and others.”
The company also <a href="https://cms.mercomindia.com/battery-materials-company-nanoramic-raises-44-million-funding/" target="_blank" rel="noopener">secured</a> $44 million in funding last year, co-led by General Motors Ventures, and Catalus Capital, with participation from Samsung Venture Investment Corporation (Samsung Ventures), Top Material, and existing investors, including Fortistar Capital and WindSail Capital Group.
The company states that it is positioned to support GWh-scale demand, with commercial shipments scaling up and shifting to global manufacturing sites in 2026.
According to Mercom’s 9M and Q3 2025 Funding and M&amp;A for Energy Storage <a href="https://cms.mercomindia.com/product/9m-and-q3-2025-funding-and-ma-report-for-storage/" target="_blank" rel="noopener">report</a>, VC funding in the sector totaled $2.8 billion in 56 deals, a 4% increase YoY compared to $2.7 billion in 61 deals in 9M 2024.
In 2024, 6K, a materials producer for energy storage and additive manufacturing powders, <a href="https://cms.mercomindia.com/battery-material-manufacturer-6k-raises-82-million-in-series-e-funding/" target="_blank" rel="noopener">closed</a> $82 million in a Series E funding round. This funding round involved existing investors in the company, including Anzu Partners, Energy Impact Partners, Launch Capital, Material Impact, and Volta Energy Technologies.
&nbsp;

Battery Materials Company Nanoramic Secures $54 Million

<a href="https://www.nanoramic.com/" target="_blank" rel="noopener">Nanoramic</a>, an energy storage and advanced materials company, secured $44 million in funding. General Motors Ventures (GM Ventures) and Catalus Capital co-led the round, with participation from Samsung Venture Investment Corporation (Samsung Ventures), Top Material, and existing investors, including Fortistar Capital and WindSail Capital Group.
Described as a &#8220;PFAS-free solution for lithium-ion batteries,&#8221; Nanoramic&#8217;s technology is designed to eliminate the need for conventional NMP solvents, a key component in traditional lithium-ion battery manufacturing, by enabling sustainable solvent alternatives. According to the company, it is compatible with existing manufacturing lines.
&#8220;Catalus is proud to co-lead this financing and support Nanoramic&#8217;s mission to revolutionize the energy storage industry with their innovative Neocarbonix technology. Nanoramic is solving the hardest challenges facing the battery industry, and they are poised to become a leader in the energy transition space. We look forward to working closely with the Nanoramic team to realize their vision,&#8221; said Saif Qazi, Vice President at Catalus Capital.
According to Mercom&#8217;s 9M and Q3 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-and-q3-2024-funding-and-ma-report-for-storage-and-grid/" target="_blank" rel="noopener">Report</a> for Energy Storage and Smart Grid, VC funding for Energy Storage companies in 9M 2024 came to $2.7 billion in 61 deals, a 69% decrease year-over-year compared to $8.6 billion in 68 deals in 9M 2023.
In June, Sila, a battery materials company, <a href="https://cms.mercomindia.com/battery-materials-company-sila-raises-375-million/" target="_blank" rel="noopener">secured</a> $375 million in a Series G funding round led by Sutter Hill Ventures, an existing investor, and funds and accounts advised by T. Rowe Price Associates. The round saw participation from new and existing investors, including Bessemer Venture Partners, Coatue, Perry Creek Capital, and others. Ardea Partners LP served as the exclusive financial advisor to Sila for its Series G round.

nanoramic

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