Daily News Wrap-Up: Input Costs, Weak Rupee Strain Solar Economics

India Added 6.6 GW of Rooftop Solar Capacity in 1H 2026

Telangana Solar Market Slowly Shifts Toward Solar-Plus-Storage, Quality, Reliability

Indonesia Launches 5.3 GW Solar Projects, Eyes 100 GW in Three Years

German Researchers Build Organic Solar Modules with 9.2% Efficiency

Approvals Constraining Green Energy Open Access Growth in Telangana

RECPDCL Announces Winner of 14 GW Renewable Transmission Project in Gujarat

Karnataka Expands Net Metering to 1 MW, Drops Mandatory Storage Proposal

MNRE Deactivates 66 Vendors over Pending PM Surya Ghar Applications

Avantus Secures $300 Million Tax Equity for Aratina 2 Solar-Storage Project


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					</table><p><strong>Independent power producer AMPIN Energy Transition has achieved financial </strong><a href="https://www.mercomindia.com/ampin-secures-195-million-for-100-mw-wind-solar-storage-project" target="_blank" rel="noopener"><strong>closure</strong></a><strong> for a $195 million project finance facility</strong> for a power purchase agreement-backed 100 MW wind-solar project with battery energy storage systems in Andhra Pradesh, India. Sumitomo Mitsui Banking Corporation and Rabobank acted as mandated lead arrangers, green loan coordinators, and joint structuring banks.</p>
<p><strong>Hindustan Power, an integrated power producer, has </strong><a href="https://www.mercomindia.com/hindustan-power-closes-financing-for-435-mw-solar-project" target="_blank" rel="noopener"><strong>achieved</strong></a><strong> financial closure for its 435 MW solar project in Uttar Pradesh, India, after securing ₹11.35 billion (~$113.5 million) in debt financing</strong> from Indian Renewable Energy Development Agency. Hindustan Power is focusing on integrated solar and battery energy storage solutions to strengthen grid reliability, enable renewable energy integration, and accelerate India’s clean energy transition.</p>
<p><strong>Mahindra Susten, the clean-tech arm of the Mahindra Group, has </strong><a href="https://www.mercomindia.com/mahindra-susten-closes-financing-for-150-8-mw-hybrid-renewable-project" target="_blank" rel="noopener"><strong>achieved</strong></a><strong> financial closure for its 150.8 MW hybrid renewable energy project</strong> being developed under the group captive offtake arrangement in Maharashtra. The project secured financing of ₹8.75 billion (~$91.51 million) from Export Import Bank of India under its Sustainable Finance Program. Gelos Solren, a subsidiary of Mahindra Susten, will execute the hybrid project.</p>
<p><strong>Korkia Semecon Finland Renewables, a joint venture between Korkia and Semecon, has completed the </strong><a href="https://mercomcapital.com/korkia-semecon-finland-renewables-sells-125-mw-battery-storage-project/" target="_blank" rel="noopener"><strong>sale</strong></a><strong> of the 125 MW Kukonkylä battery energy storage project</strong> in Finland to renewable energy developer and independent power producer Enlight Renewable Energy. The ready-to-build standalone battery storage project, located in Sievi, Northern Ostrobothnia, is among the largest publicly announced battery storage projects in Finland.</p>
<p><strong>PowerBank Corporation, a North American energy company that develops, builds, owns, and operates solar and battery energy storage systems, has executed agreements</strong> through its U.S. subsidiary, Abundant Solar Power, to <a href="https://mercomcapital.com/powerbank-to-reacquire-13-9-mw-new-york-community-solar-projects/" target="_blank" rel="noopener">reacquire</a> two community solar projects in New York. The 13.9 MW portfolio comprises the 6.9 MW Highway 28 project and the 7 MW Gainesville project. PowerBank previously sold the projects to an investor as part of a larger transaction announced in January 2025.</p>
<p>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>.</p>
<p>Read last week&#8217;s project finance <a href="https://www.mercomindia.com/project-finance-brief-dimension-energy-secures-857-million" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: AMPIN Secures $195 Million for Hybrid Storage Project


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					</table><p><a href="https://powerbankcorp.com/" target="_blank" rel="noopener">PowerBank Corporation</a>, a North American company that develops and owns independent renewable and clean energy projects, has raised gross proceeds of $13.68 million through an equity offering.</p>
<p>The proceeds were raised through the company’s previously announced at-the-market (ATM) offering program, pursuant to a prospectus supplement dated June 5, 2025, to its short-form base shelf prospectus dated May 7, 2025, through which the company sold 7,738,625 shares for gross proceeds of approximately $13.68 million.</p>
<p>The company focuses on developing solar and battery energy storage system projects that sell electricity to a range of off-takers, including utilities, commercial entities, industrial clients, municipalities, and residential customers.</p>
<p>According to the company, the proceeds will be used to support the development of its growing portfolio of renewable energy projects, strengthen its position as an independent power producer, cover investor relations expenses, fund ongoing operations, and meet working capital needs.</p>
<p>“This successful capital raise helps support PowerBank’s growth trajectory and strategic vision,” said Dr. Richard Lu, president and chief executive officer of PowerBank Corporation. “The proceeds provide us with financing that has helped and will help advance our robust development pipeline, focused on solar and battery energy storage, while strengthening our balance sheet. As we expand our owned asset portfolio and establish ourselves as a growing independent power producer, we remain committed to delivering value to our shareholders while advancing the clean energy transition. As of September 30, 2025, PowerBank had approximately $138 million in assets.”</p>
<p>With a development pipeline exceeding 1 GW, PowerBank continues to expand its presence in the distributed and community solar markets across major regions of North America.</p>
<p>In December, PowerBank announced that it and its subsidiaries <a href="https://cms.mercomindia.com/powerbank-secures-8-million-loan/" target="_blank" rel="noopener">entered</a> into a revolving credit facility with an initial principal of up to $8 million with NY Green Bank.</p>
<p>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>, public market financing in the solar sector in 2025 totaled $2.6 billion, 13% lower than the $3 billion raised in 2024.</p>


PowerBank Raises $13.68 Million in Equity Offering


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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-serengeti-energy-secures-financing-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Serengeti Energy, an independent renewable power producer, </strong><a href="https://mercomcapital.com/serengeti-energy-raises-26-million-financing-ilute-solar-project/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> $26 million in project financing from a syndicate of lenders for the development</strong> of the 32 MWp Ilute solar project located in Western Zambia. The financing is led by the Dutch entrepreneurial development bank, alongside the Sustainable Energy Fund for Africa, managed by the African Development Bank, Triodos Investment Management, and EDFI Management Company, through the EU-funded Electrification Financing Initiative.</p>
<p><strong>Tauron Polska Energia, an energy utility company, secured a PLN 268.7 million (~$74 million) </strong><a href="https://mercomcapital.com/tauron-secures-74-million-in-loan-for-120-mw-solar-projects/" target="_blank" rel="noopener"><strong>loan</strong></a><strong> from Bank Gospodarstwa Krajowego (BGK) under the National Recovery and Resilience Plan</strong> (NPR). The financing will be used to construct two solar projects with a combined capacity of 120 MW, located in Mysłowice and Ogrodzieniec, Poland, along with the accompanying infrastructure.</p>
<p><strong>Independent power producer Juniper Green Energy has </strong><a href="https://www.mercomindia.com/juniper-green-raises-%E2%82%B920-billion-debt-funding-for-renewable-energy-projects" target="_blank" rel="noopener"><strong>secured</strong></a><strong> ₹20.39 billion (~$245.7 million) in debt financing from a consortium of domestic and global financial institutions to fund</strong> the development of its upcoming renewable energy projects. The financing has been secured from the National Bank for Financing Infrastructure and Development, HSBC Bank, DBS Bank India, Barclays Bank, and Aseem Infrastructure Finance.</p>
<p><strong>Inox Neo Energies, the independent power producer arm of Inox Clean Energy, has </strong><a href="https://www.mercomindia.com/inox-neo-energies-acquires-sunsources-300-mw-solar-projects" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> around 300 MW of operational solar projects from SunSource Energy.</strong> Inox Neo is also in the process of acquiring an estimated 50 MW of solar projects pending approvals from SunSource Energy. The projects are located across 13 states, including Uttar Pradesh, Karnataka, Tamil Nadu, and Maharashtra. They are being operated under various special-purpose vehicles that sell power under long-term arrangements to multiple commercial and industrial companies.</p>
<p><strong>PowerBank Corporation, a North American clean energy company focused on developing, owning, and operating solar power, energy storage, and hybrid renewable energy assets</strong>, <a href="https://mercomcapital.com/powerbank-secures-8-million-loan/" target="_blank" rel="noopener">announced</a> that it and its subsidiaries have entered into an $8 million loan agreement with NY Green Bank. The loan agreement consists of a revolving credit facility with an initial principal amount of up to $8 million. The funding will be used to cover interconnection deposits for an initial portfolio of 50 MW of distributed solar power and battery energy storage projects in New York.</p>
<p>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.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-octopus-renewables-solar-wind-projects/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Serengeti Energy Secures $26 Million Financing for the Ilute Solar Project

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