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

OpenSolar, a solar software platform, <a href="https://cms.mercomindia.com/solar-software-platform-opensolar-raises-20m-equity-funding/" target="_blank" rel="noopener">raised</a> $20 million in equity funding from Titanium Ventures, Google, 2150 Sustainability Fund, and other investors. Leveraging Google’s Solar API data, the company’s platform serves as a solar operating system for installers. The new funding will enable further investment in its AI-driven technology solutions and support the expansion of its global coverage.
OpusFlow, a software platform for renewable energy installers, has <a href="https://cms.mercomindia.com/opusflow-raises-4-5-million-in-an-oversubscribed-funding-round/" target="_blank" rel="noopener">raised</a> €3.8 million (~$4.5 million) in growth capital from lead investor Move Energy, alongside Rise PropTech and existing investor Peak. The oversubscribed funding round follows a previous €1.7 million (~$2 million) investment led by Peak in July 2024, bringing the total raised capital to €5.5 million (~$6.5 million). The newly raised capital will enable OpusFlow to deepen its presence in its existing markets, the Netherlands, Belgium, Germany, Spain, and the U.K., while also supporting further international expansion.
Bowman Consulting Group, an engineering services and project management firm, <a href="https://cms.mercomindia.com/bowman-consulting-group-acquires-sierra-overhead-analytics/" target="_blank" rel="noopener">announced</a> it has acquired the assets of engineering firm Sierra Overhead Analytics and its technology affiliate ORCaS. The two companies are under common control.  The acquisition was financed through a combination of cash, seller notes, and a convertible note and is expected to generate an initial net service billing run rate of approximately $2.2 million, with immediate accretion to earnings.
Solar module manufacturer Alpex Solar has <a href="https://www.mercomindia.com/alpex-solar-raises-%E2%82%B92-6-billion-through-preferential-issue-of-equity-shares" target="_blank" rel="noopener">raised</a> ₹2.6 billion (~$29.27 million) through a preferential issue of 2.15 million equity shares and warrants. The funds will be utilized to support the company’s plans to transform Alpex into an integrated solar cell and module manufacturer. The preferential issue attracted participation from private investors and funds, with a few already having exposure to renewable energy projects. Alpex plans to triple its solar module capacity to 3.6 GW by the end of the financial year 2027, from 1.2 GW.
The board of directors and the shareholders of Ola Electric Technologies, a wholly owned subsidiary of Ola Electric Mobility, have <a href="https://www.mercomindia.com/ola-electric-subsidiary-to-raise-%E2%82%B98-77-billion-via-preferential-shares" target="_blank" rel="noopener">approved</a> a proposal to raise ₹8.77 billion (~$98.92 million) by issuing up to 877.64 million shares to Ola Cell Technologies, another subsidiary. The non-cumulative and non-participating optionally convertible redeemable preference shares will have a face value of ₹10 (~$0.11) each and will be issued in one or more tranches through private placement.
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-and-ma-roundup-cornish-lithium-raises-47-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: OpenSolar Raises $20 Million Equity Funding

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-opensolar-raises-20m-equity-funding/" target="_blank" rel="noopener">Mercom Capital Group</a>
OpenSolar, a solar software platform, <a href="https://mercomcapital.com/solar-software-platform-opensolar-raises-20m-equity-funding/" target="_blank" rel="noopener">raised</a> $20 million in equity funding from Titanium Ventures, Google, 2150 Sustainability Fund, and other investors. Leveraging Google’s Solar API data, the company’s platform serves as a solar operating system for installers. The new funding will enable further investment in its AI-driven technology solutions and support the expansion of its global coverage.
OpusFlow, a software platform for renewable energy installers, has <a href="https://mercomcapital.com/opusflow-raises-4-5-million-in-an-oversubscribed-funding-round/" target="_blank" rel="noopener">raised</a> €3.8 million (~$4.5 million) in growth capital from lead investor Move Energy, alongside Rise PropTech and existing investor Peak. The oversubscribed funding round follows a previous €1.7 million (~$2 million) investment led by Peak in July 2024, bringing the total raised capital to €5.5 million (~$6.5 million). The newly raised capital will enable OpusFlow to deepen its presence in its existing markets, the Netherlands, Belgium, Germany, Spain, and the U.K., while also supporting further international expansion.
Bowman Consulting Group, an engineering services and project management firm, <a href="https://mercomcapital.com/bowman-consulting-group-acquires-sierra-overhead-analytics/" target="_blank" rel="noopener">announced</a> it has acquired the assets of engineering firm Sierra Overhead Analytics and its technology affiliate ORCaS. The two companies are under common control.  The acquisition was financed through a combination of cash, seller notes, and a convertible note and is expected to generate an initial net service billing run rate of approximately $2.2 million, with immediate accretion to earnings.
Solar module manufacturer Alpex Solar has <a href="https://www.mercomindia.com/alpex-solar-raises-%E2%82%B92-6-billion-through-preferential-issue-of-equity-shares" target="_blank" rel="noopener">raised</a> ₹2.6 billion (~$29.27 million) through a preferential issue of 2.15 million equity shares and warrants. The funds will be utilized to support the company’s plans to transform Alpex into an integrated solar cell and module manufacturer. The preferential issue attracted participation from private investors and funds, with a few already having exposure to renewable energy projects. Alpex plans to triple its solar module capacity to 3.6 GW by the end of the financial year 2027, from 1.2 GW.
The board of directors and the shareholders of Ola Electric Technologies, a wholly owned subsidiary of Ola Electric Mobility, have <a href="https://www.mercomindia.com/ola-electric-subsidiary-to-raise-%E2%82%B98-77-billion-via-preferential-shares" target="_blank" rel="noopener">approved</a> a proposal to raise ₹8.77 billion (~$98.92 million) by issuing up to 877.64 million shares to Ola Cell Technologies, another subsidiary. The non-cumulative and non-participating optionally convertible redeemable preference shares will have a face value of ₹10 (~$0.11) each and will be issued in one or more tranches through private placement.
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’s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-cornish-lithium-raises-47-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://opusflow.io/" target="_blank" rel="noopener">OpusFlow</a>, a software platform for renewable energy installers, has raised €3.8 million (~$4.5 million) in growth capital from lead investor Move Energy, alongside Rise PropTech and existing investor Peak. The oversubscribed funding round follows a previous €1.7 million (~$2 million) investment led by Peak in July 2024, bringing the total raised capital to €5.5 million (~$6.5 million).
The newly raised capital will enable OpusFlow to deepen its presence in its existing markets, the Netherlands, Belgium, Germany, Spain, and the U.K., while also supporting further international expansion.
OpusFlow&#8217;s platform is stated to integrate all essential processes for installers of solar panels, heat pumps, EV chargers, solar water heaters, and related systems. It covers operational workflow, from quotations and team scheduling to inventory management, sales, and invoicing.
The company also offers a solar design and proposal software, which enables users to create solar layouts on satellite images, adding substructures, obstacles, inverters, and string plans. The tool automatically performs yield calculations, compiles required materials from suppliers, and allows users to finalize and send quotations.
&#8220;The energy transition requires not just new technology, but scalable software that makes installers&#8217; operations drastically more efficient. OpusFlow is uniquely positioned to become the European platform of choice for mid-market renewable energy installers. We&#8217;re proud to support the team in their international expansion and AI-driven roadmap,&#8221; says Gaëtan Baudelet, Partner at Rise PropTech.
According to Mercom&#8217;s 1H 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>, VC funding activity decreased 7% year-over-year, with $2.5 billion raised in 32 deals in 1H 2025 compared to $2.7 billion from 29 deals in the first half of 2024. In Q2 2025, global VC funding activity declined 50% YoY, with $1.1 billion raised across 18 deals compared to $2.2 billion in 16 deals in Q2 2024.
In October, OpenSolar, a solar software platform, <a href="https://cms.mercomindia.com/solar-software-platform-opensolar-raises-20m-equity-funding/" target="_blank" rel="noopener">raised</a> $20 million in equity funding from Titanium Ventures, Google, 2150 Sustainability Fund, and other investors. Leveraging Google&#8217;s Solar API data, the company&#8217;s platform serves as a solar operating system for installers.

OpusFlow Raises $4.5 Million in an Oversubscribed Funding Round

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