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

Juniper Green Energy’s IPO Oversubscribed 6.12 Times

Central Electronics Tenders 30 MW Solar Project in Madhya Pradesh

DRI, an Amsterdam-based renewable energy company and a subsidiary of the DTEK Group, <a href="https://cms.mercomindia.com/dri-acquires-112-mw-448-mwh-battery-storage-project-in-poland/" target="_blank" rel="noopener">announced</a> the acquisition of rights to build a 112 MW/448 MWh battery energy storage system from Greenvolt Group, a renewable energy project developer. The project, located in Kozienice, in the east-central part of Poland, was acquired through Greenvolt Power, a developer of utility-scale solar, wind, and energy storage projects.
Soltage, an independent utility-scale solar and energy storage power producer, <a href="https://cms.mercomindia.com/soltage-raises-525-million-for-storage-and-solar-projects/" target="_blank" rel="noopener">closed</a> a $525 million tax credit investment agreement. The financing will provide the company with stable, long-term capital to continue developing, constructing, and operating its over 2 GW of solar and battery energy storage projects. The financing includes the purchase of investment tax credits over a two-year period.
Oyster Green Hybrid Three, a subsidiary of Oyster Renewable Energy, has <a href="https://www.mercomindia.com/oyster-secures-%E2%82%B918-billion-loan-for-342-mw-hybrid-project" target="_blank" rel="noopener">achieved</a> financial closure for its 342 MW wind-solar hybrid project in Madhya Pradesh, securing a loan of ₹18.44 billion (~$207.71 million) from the Union Bank of India with a tenure of approximately 20 years.
France-based diversified multinational energy company TotalEnergies is <a href="https://www.mercomindia.com/totalenergies-to-divest-50-of-its-1-4-gw-solar-portfolio-in-north-america" target="_blank" rel="noopener">selling</a> 50% of its 1.4 GW solar portfolio in North America to global investment firm KKR for an enterprise value of $1.25 billion. It has signed an agreement with KKR and insurance vehicles for the sale.
India-based renewable energy solutions provider KPI Green Energy has <a href="https://www.mercomindia.com/kpi-green-secures-%E2%82%B932-billion-loan-from-sbi-for-1-gw-renewable-energy-projects" target="_blank" rel="noopener">secured</a> approval from State Bank of India for a ₹32 billion (~$360.77 million) loan for its solar and hybrid independent power producer projects in Gujarat. The approval comprises both fund-based and non-fund-based facilities to part-finance the development of its 250 MW solar project and 370 MW hybrid project, comprising 557 MWp of solar and 124.2 MW of wind, in Gujarat.
Renewable energy company Hero Future Energies (HFE) has <a href="https://www.mercomindia.com/hero-future-gets-%E2%82%B910-billion-funding-from-sbi-for-60-mw-hybrid-power-project" target="_blank" rel="noopener">secured</a> ₹10.24 billion (~$115.43 million) in funding from the State Bank of India (SBI) to finance a 60 MW hybrid project in Andhra Pradesh. The project, which combines solar, wind, and storage and is contracted with the Solar Energy Corporation of India (SECI), is being built in the Kurnool district. Funding was secured through the company’s special purpose vehicle, Clean Solar Power Barmer.
AIP Management, an investor in energy and decarbonization infrastructure, has <a href="https://cms.mercomindia.com/aip-management-to-acquire-49-stake-in-battery-storage-portfolio/" target="_blank" rel="noopener">agreed</a> to acquire a 49% equity stake in a U.K.-based battery energy storage system portfolio with a combined capacity of 700 MW and 3.5-hour duration from BW ESS, an energy storage project developer, owner, and operator.
Sonnedix, an independent solar power producer, <a href="https://cms.mercomindia.com/sonnedix-acquires-226-mw-of-solar-projects-in-italy/" target="_blank" rel="noopener">acquired</a> a portfolio of utility-scale solar projects with a combined capacity of 226 MW from Capital Dynamics, an independent private asset management firm. The portfolio comprises five subsidy-free solar projects located across Lazio and Sicily in Italy and is backed by long-term Pay-as-Produced power purchase agreements. Four of the five projects in the portfolio are operational.
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-flatiron-energy-storage-project/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: DRI Acquires 112 MW/448 MWh Battery Storage Project in Poland

<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/2025/10/amazon_polly_85012.mp3?version=1759295847">
			</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-dri-acquires-battery-storage-project/" target="_blank" rel="noopener">Mercom Capital Group</a>
DRI, an Amsterdam-based renewable energy company and a subsidiary of the DTEK Group, <a href="https://mercomcapital.com/dri-acquires-112-mw-448-mwh-battery-storage-project-in-poland/" target="_blank" rel="noopener">announced</a> the acquisition of rights to build a 112 MW/448 MWh battery energy storage system from Greenvolt Group, a renewable energy project developer. The project, located in Kozienice, in the east-central part of Poland, was acquired through Greenvolt Power, a developer of utility-scale solar, wind, and energy storage projects.
Soltage, an independent utility-scale solar and energy storage power producer, <a href="https://mercomcapital.com/soltage-raises-525-million-for-storage-and-solar-projects/" target="_blank" rel="noopener">closed</a> a $525 million tax credit investment agreement. The financing will provide the company with stable, long-term capital to continue developing, constructing, and operating its over 2 GW of solar and battery energy storage projects. The financing includes the purchase of investment tax credits over a two-year period.
Oyster Green Hybrid Three, a subsidiary of Oyster Renewable Energy, has <a href="https://www.mercomindia.com/oyster-secures-%E2%82%B918-billion-loan-for-342-mw-hybrid-project" target="_blank" rel="noopener">achieved</a> financial closure for its 342 MW wind-solar hybrid project in Madhya Pradesh, securing a loan of ₹18.44 billion (~$207.71 million) from the Union Bank of India with a tenure of approximately 20 years.
France-based diversified multinational energy company TotalEnergies is <a href="https://www.mercomindia.com/totalenergies-to-divest-50-of-its-1-4-gw-solar-portfolio-in-north-america" target="_blank" rel="noopener">selling</a> 50% of its 1.4 GW solar portfolio in North America to global investment firm KKR for an enterprise value of $1.25 billion. It has signed an agreement with KKR and insurance vehicles for the sale.
India-based renewable energy solutions provider KPI Green Energy has <a href="https://www.mercomindia.com/kpi-green-secures-%E2%82%B932-billion-loan-from-sbi-for-1-gw-renewable-energy-projects" target="_blank" rel="noopener">secured</a> approval from State Bank of India for a ₹32 billion (~$360.77 million) loan for its solar and hybrid independent power producer projects in Gujarat. The approval comprises both fund-based and non-fund-based facilities to part-finance the development of its 250 MW solar project and 370 MW hybrid project, comprising 557 MWp of solar and 124.2 MW of wind, in Gujarat.
Renewable energy company Hero Future Energies (HFE) has <a href="https://www.mercomindia.com/hero-future-gets-%E2%82%B910-billion-funding-from-sbi-for-60-mw-hybrid-power-project" target="_blank" rel="noopener">secured</a> ₹10.24 billion (~$115.43 million) in funding from the State Bank of India (SBI) to finance a 60 MW hybrid project in Andhra Pradesh. The project, which combines solar, wind, and storage and is contracted with the Solar Energy Corporation of India (SECI), is being built in the Kurnool district. Funding was secured through the company’s special purpose vehicle, Clean Solar Power Barmer.
AIP Management, an investor in energy and decarbonization infrastructure, has <a href="https://mercomcapital.com/aip-management-to-acquire-49-stake-in-battery-storage-portfolio/" target="_blank" rel="noopener">agreed</a> to acquire a 49% equity stake in a U.K.-based battery energy storage system portfolio with a combined capacity of 700 MW and 3.5-hour duration from BW ESS, an energy storage project developer, owner, and operator.
Sonnedix, an independent solar power producer, <a href="https://mercomcapital.com/sonnedix-acquires-226-mw-of-solar-projects-in-italy/" target="_blank" rel="noopener">acquired</a> a portfolio of utility-scale solar projects with a combined capacity of 226 MW from Capital Dynamics, an independent private asset management firm. The portfolio comprises five subsidy-free solar projects located across Lazio and Sicily in Italy and is backed by long-term Pay-as-Produced power purchase agreements. Four of the five projects in the portfolio are operational.
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-flatiron-energy-storage-project/" target="_blank" rel="noopener">brief</a>.

<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/2025/09/amazon_polly_84931.mp3?version=1759155395">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>Oyster Green Hybrid Three, a subsidiary of <a href="https://www.oysterrenewable.com/" target="_blank" rel="noopener">Oyster Renewable Energy,</a> has achieved financial closure for its 342 MW wind-solar hybrid project in Madhya Pradesh, securing a loan of ₹18.44 billion (~$207.71 million) from the <a href="https://www.unionbankofindia.co.in/en/home" target="_blank" rel="noopener">Union Bank of India</a> with a tenure of approximately 20 years.
The company said the co-located solar-wind project will be connected to the interstate transmission system. It added that it has finalized a 25-year power purchase agreement under captive norms with a process industry unit.
Oyster provides solar, wind, and solar-wind hybrid solutions to clients in the commercial and industrial sector. It plans to invest ₹160 billion (~$1.8 billion) to achieve a renewable energy capacity of 2 GW by 2028. The company is expected to close a capacity of 300 MW  by December 1, 2025.
In June this year, Jindal Stainless <a href="https://www.mercomindia.com/jindal-stainless-to-procure-700-mu-of-hybrid-renewable-power-from-oyster" target="_blank" rel="noopener">announced</a> that it would procure approximately 700 million units of renewable energy annually from Oyster Renewable Energy’s 282 MW interstate wind-solar hybrid power projects, which are under development. The projects are being implemented by Oyster’s special purpose vehicle, Oyster Green Hybrid One. Jindal acquired a 33.64% stake in Oyster Green Hybrid One.
The wind-solar hybrid projects comprise an 82 MW wind project and a 135 MW solar project in Agar, Madhya Pradesh, and a 99 MW wind project in Bhuj, Gujarat. The company will invest approximately ₹1.32 billion (~$15.4 million), with ₹792 million (~$9.25 million) allocated to the current tranche upon achieving a milestone.
The projects, backed by a ₹15.17 billion (~$176.65 million) loan by the Indian Renewable Energy Development Agency, are likely to be commissioned by the third quarter of the financial year 2026. The projects are likely to be commissioned by the third quarter of the financial year 2026.
Jindal Stainless also <a href="https://www.mercomindia.com/jsl-super-steel-to-procure-11-mw-solar-power-from-sunsures-project" target="_blank" rel="noopener">signed</a> a memorandum of understanding with Oyster for a wind-solar hybrid renewable project in Hisar, Haryana, for 100 MW of renewable energy.

Oyster Secures ₹18 Billion Loan for 342 MW Wind-Solar Hybrid Project

oyster-renewable-energy

Get the most relevant India solar and clean energy news.

RECENT POSTS