CERC Rescinds Revocation of Renewable Projects’ Grid Connectivity

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

Scatec, a renewable energy solutions provider, <a href="https://cms.mercomindia.com/scatec-secures-27-million-financing-for-142-mw-solar-project/" target="_blank" rel="noopener">secured</a> BRL 150 million (~$27 million) non-recourse project financing for the development of a 142 MW solar project in Minas Gerais, Brazil. The funding was provided by Banco de Nordeste do Brasil. The solar project is under construction and is expected to reach commercial operation in the first half of 2026. The financing package is 30% of the total estimated capital expenditure of BRL 506 million (~$91 million).
NextPower V ESG, a fund of NextEnergy Capital, <a href="https://cms.mercomindia.com/nextpower-v-esg-acquires-73-mw-solar-project-in-italy/" target="_blank" rel="noopener">announced</a> the acquisition of a 73 MW advanced agrivoltaic solar project in Campania, south-eastern Italy. Additionally, the project has been awarded a 20-year contract for difference from the GME DM Agrivoltaico Auction for 100% of its volume. With this acquisition, the fund has increased the committed capacity to date to 670 MW, of which about 220 MW capacity is fully operational and an additional 230 MW is due to reach commercial operations shortly.
Energy Vault, a utility-scale energy storage project developer, <a href="https://cms.mercomindia.com/energy-vault-acquires-125-mw-1-gwh-stoney-creek-storage-project/" target="_blank" rel="noopener">announced</a> that it has received Foreign Investment Review Board approval and completed the full acquisition of the 125 MW/1,000 MWh Stoney Creek battery energy storage project in Northern New South Wales, Australia. Once operational, the storage project is designed to deliver eight hours of dispatchable energy, supporting grid reliability and flexibility.
BRUC, a Spain-based solar and wind project developer, has <a href="https://cms.mercomindia.com/bruc-secures-over-757m-for-6-6-gw-clean-energy-portfolio/" target="_blank" rel="noopener">renewed</a> its corporate debt financing for up to €650 million (~$757.6 million). Schroders Capital, Infranity, Instituto de Crédito Oficial, BNP Paribas, Santander, and ING provided the financing, with Santander and ING also acting as green loan coordinators. The financing will support the company’s portfolio of solar and wind projects totaling 6,600 MW in the construction and commissioning stages, located across Spain. It will also enable the hybridization of its various operational projects through the addition of wind and battery storage systems.
Energy Vault, a utility-scale energy storage project developer, <a href="https://cms.mercomindia.com/energy-vault-secures-18-million-project-financing/" target="_blank" rel="noopener">secured</a> a $18 million project financing from Eagle Point Credit Management, a private credit investment manager. The funding will support the company’s 57 MW/114 MWh Cross Trails Battery Energy Storage project. Located in Texas, the grid-scale project reached full commercial operation in June 2025.
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-dsd-renewables-distributed-projects/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Scatec Secures $27 Million Financing for 142 MW Solar Project

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/08/amazon_polly_83155.mp3?version=1755061214">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/project-finance-brief-scatec-financing-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
Scatec, a renewable energy solutions provider, <a href="https://mercomcapital.com/scatec-secures-27-million-financing-for-142-mw-solar-project/" target="_blank" rel="noopener">secured</a> BRL 150 million (~$27 million) non-recourse project financing for the development of a 142 MW solar project in Minas Gerais, Brazil. The funding was provided by Banco de Nordeste do Brasil. The solar project is under construction and is expected to reach commercial operation in the first half of 2026. The financing package is 30% of the total estimated capital expenditure of BRL 506 million (~$91 million).
NextPower V ESG, a fund of NextEnergy Capital, <a href="https://mercomcapital.com/nextpower-v-esg-acquires-73-mw-solar-project-in-italy/" target="_blank" rel="noopener">announced</a> the acquisition of a 73 MW advanced agrivoltaic solar project in Campania, south-eastern Italy. Additionally, the project has been awarded a 20-year contract for difference from the GME DM Agrivoltaico Auction for 100% of its volume. With this acquisition, the fund has increased the committed capacity to date to 670 MW, of which about 220 MW capacity is fully operational and an additional 230 MW is due to reach commercial operations shortly.
Energy Vault, a utility-scale energy storage project developer, <a href="https://mercomcapital.com/energy-vault-acquires-125-mw-1-gwh-stoney-creek-storage-project/" target="_blank" rel="noopener">announced</a> that it has received Foreign Investment Review Board approval and completed the full acquisition of the 125 MW/1,000 MWh Stoney Creek battery energy storage project in Northern New South Wales, Australia. Once operational, the storage project is designed to deliver eight hours of dispatchable energy, supporting grid reliability and flexibility.
BRUC, a Spain-based solar and wind project developer, has <a href="https://mercomcapital.com/bruc-secures-over-757m-for-6-6-gw-clean-energy-portfolio/" target="_blank" rel="noopener">renewed</a> its corporate debt financing for up to €650 million (~$757.6 million). Schroders Capital, Infranity, Instituto de Crédito Oficial, BNP Paribas, Santander, and ING provided the financing, with Santander and ING also acting as green loan coordinators. The financing will support the company’s portfolio of solar and wind projects totaling 6,600 MW in the construction and commissioning stages, located across Spain. It will also enable the hybridization of its various operational projects through the addition of wind and battery storage systems.
Energy Vault, a utility-scale energy storage project developer, <a href="https://mercomcapital.com/energy-vault-secures-18-million-project-financing/" target="_blank" rel="noopener">secured</a> a $18 million project financing from Eagle Point Credit Management, a private credit investment manager. The funding will support the company’s 57 MW/114 MWh Cross Trails Battery Energy Storage project. Located in Texas, the grid-scale project reached full commercial operation in June 2025.
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-dsd-renewables-distributed-projects/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.nextenergycapital.com/" target="_blank" rel="noopener">NextPower V ESG</a>, a fund of NextEnergy Capital, announced the acquisition of a 73 MW advanced agrivoltaic solar project in Campania, south-eastern Italy.
Additionally, the project has been awarded a 20-year contract for difference from the GME DM Agrivoltaico Auction for 100% of its volume.
With this acquisition, the fund has increased the committed capacity to date to 670 MW, of which about 220 MW capacity is fully operational and an additional 230 MW is due to reach commercial operations shortly. In addition, 451 MW of solar and battery energy storage systems are in the advanced stage of negotiation and once fully acquired, will raise the fund&#8217;s portfolio to more than 1 GW of committed capacity.
Antonio Salvati, Managing Director NextPower V ESG at NextEnergy Capital, commented, &#8220;Italy remains a key market for NextPower V as it offers one of the highest irradiance areas in Europe, supported by well-developed infrastructure. NextEnergy Capital continues to have a significant local presence in Italy, supported through its 79 employees located across our three Italian offices. The transaction highlights the multiple benefits AgriPV projects can bring to the local area, such as nature enhancement, land productivity, local engagement, and clean green energy. This is the largest transaction to date for NextPower V in Italy and provides NextPower V with an innovative Agri-PV opportunity, ensuring it is resilient and prepared for future AgriPV mandates in Europe and other markets.&#8221;
In August 2024, NextPower V ESG entered into a binding agreement to <a href="https://cms.mercomindia.com/nextpower-v-esg-acquires-solar-portfolio-spain/" target="_blank" rel="noopener">acquire</a> a 248 MW solar portfolio comprising 12 solar projects located in Northern Spain.
According to Mercom&#8217;s 1H and Q2 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-and-q2-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, approximately 19.9 GW of solar projects were acquired in the first half of 2025, compared to 18.5 GW in the first half of 2024.

NextPower V ESG Acquires 73 MW Solar Project in Italy

<a href="https://www.ibvogt.com/about/" target="_blank" rel="noopener">ib vogt</a>, a solar and energy storage project developer, announced the sale of its 110 MW Pato solar project in Spain to NextPower V ESG, an OECD Fund of NextEnergy Capital. Construction of the solar project began in March 2024.
The site uses bifacial tracking solar panels and is part of a number of projects under construction by ib vogt totaling 513 MWp in the Spanish province of Segovia.
The solar project is expected to be commercially operational in the first quarter of 2025 and has a signed power purchase agreement with an industrial innovator. Once operational, ib vogt expects the project to  produce approximately 215.6 GWh of clean electricity annually.
ib vogt is providing engineering, procurement, and construction services and asset management services and will handle operations and maintenance post-completions for the project.
Antonio Salvati, Managing Director of NextPower V ESG at NextEnergy Capital, said, “This marks NextPower V ESG’s second acquisition in Spain in a relatively short period.  The project represents an attractive investment for NextPower V ESG in a well-understood market where NextEnergy Capital has a lot of experience with over 545MW of installed capacity across its various strategies and a dedicated team on the ground in our Madrid office. Spain benefits from one of the highest levels of solar irradiation in Europe and remains an attractive target for further opportunities for NextPower V ESG due to its mature PV market, renewable energy sector track record, and well-developed infrastructure”.
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 were announced in 1H 2024 compared to 116 project acquisitions totaling 25.5 GW in 1H 2023.
This week, Eurowind Energy, a Danish-based renewable energy project developer, announced signing a shares purchase agreement in August to <a href="https://cms.mercomindia.com/eurowind-energy-acquires-eleven-solar-projects-totaling-55-mw-in-portugal/" target="_blank" rel="noopener">acquire</a> 11 solar projects with 5 MWac capacity each.

ib vogt Sells 110 MW Solar Project in Spain

<a href="https://www.nextenergycapital.com/" target="_blank" rel="noopener">NextPower V ESG</a> (NPV ESG), an OECD Fund of NextEnergy Capital, entered into a binding agreement to acquire a 248 MW solar portfolio comprising 12 solar projects located in Northern Spain.
The portfolio acquisition is NextPower V ESG’s fourth investment. Recently, the fund announced the closing of long-term debt financing for an operational portfolio managed by NextPower III ESG in Spain.
NextPower V ESG’s portfolio includes 348 MW under construction, 116 MW in operations, and over 500 MW in exclusivity or advanced negotiation.
Aldo Beolchini, CIO and Managing Partner at NextEnergy Capital said, “NPV ESG continues to go from strength to strength. This latest investment in Spain shortly follows the recent acquisition in Poland, again demonstrating NEC’s ability to deploy capital quickly and efficiently while highlighting NEC as a market leader in the solar space, with over 360 MW of capacity added to NPV ESG in the last twelve weeks.”
NPV ESG has secured $745 million (including $150 million for co-investments) in total commitments from various investors, including the UK LGPS investment pool and a Dutch pension fund.
NPV ESG’s investment strategy targets the solar+ infrastructure sector in selected OECD markets. The approach involves building significant portfolios in each target market and divesting the portfolio before the fund’s end date in 2033.
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.
This week, CleanCapital, a mid-market renewables project financing group, announced the <a href="https://cms.mercomindia.com/cleancapital-acquires-13-mw-solar-projects/" target="_blank" rel="noopener">acquisition</a> of two fully operational solar projects totaling 13 MW. BQ Energy Development (BQ) 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.

nextpower-v-esg

Get the most relevant India solar and clean energy news.

RECENT POSTS