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

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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

Trina Solar, a solar module manufacturer, and smart energy solutions provider <a href="https://cms.mercomindia.com/trina-solar-secures-235-million-loan-solar-pv-manufacturing-plant/" target="_blank" rel="noopener">secured</a> a $235 million non-recourse senior secured term green loan facility from Standard Chartered to support the development, construction, and operation of a 1.35 million square foot solar photovoltaic manufacturing plant in Wilmer, Texas. Standard Chartered served as the sole lead structuring bank and book-runner for the financing.
Powerdot, a provider of EV charging solutions, has <a href="https://cms.mercomindia.com/powerdot-secures-180-million-green-financing/" target="_blank" rel="noopener">secured</a> €165 million (~$180 million) in green financing from ABN Amro, BNP Paribas, ING, MUFG Bank, Santander, and Société Générale. The €165 million (~$180 million) green financing facility – with an additional €60 million (~$65.5 million) of the uncommitted accordion facility – will be used to expand Powerdot’s network of EV charging points to reach more than 3,100 locations by 2026, enhance the technology and user experience, and grow and develop its team.
Electric vehicle charger manufacturer Exicom Tele-systems <a href="https://www.mercomindia.com/exicom-to-acquire-australia-based-ev-charger-company-tritium" target="_blank" rel="noopener">announced</a> it is acquiring Tritium, an Australia-based manufacturer of DC fast chargers. Tritium has a presence in 47 countries. Exicom will gain access to Tritium’s manufacturing facility in Tennessee, U.S., and an engineering center in Brisbane, Australia. Tritium has sold over 13,000 DC fast chargers. It designs and manufactures proprietary hardware and software to create liquid-cooled DC fast chargers for electric vehicles.
Allego, an electric vehicle charging solutions provider, <a href="https://cms.mercomindia.com/ev-charging-provider-allego-secures-22-million-loan/" target="_blank" rel="noopener">secured</a> a €20 million (~$22 million) loan from the European Bank of Reconstruction and Development. This funding is a part of the CROSS-E project co-funded by the European Union. Allego plans to deploy over 200 light and heavy-duty vehicle (LDV /HDV) EV recharging points across over 50 strategic locations in Poland. The project in Poland is co-funded by the EU’s Connecting Europe Facility (CEF) program, supporting European transport infrastructure projects along the TEN-T Network and in Urban Nodes.
Electric vehicle battery manufacturing company Neuron Energy has <a href="https://www.mercomindia.com/ev-battery-manufacturer-neuron-energy-raises-%E2%82%B9200-million" target="_blank" rel="noopener">raised</a> ₹200 million (~$2.4 million) in a Series A funding from investors, including the Chona Family and Capri Global Family Office. The funds will be used to bolster Neuron’s research and development capabilities. This will include establishing an R&amp;D laboratory in Pune and a manufacturing facility in Delhi, India. The company aims to clock ₹1.5 – 2 billion (~$17.86 – 23.81 million) in revenue in the current fiscal year.
Wind turbine manufacturer Suzlon Energy has <a href="https://www.mercomindia.com/suzlon-acquires-majority-renom-energy-services" target="_blank" rel="noopener">announced</a> the acquisition of a 76% stake in Renom Energy Services, a multi-brand renewable energy operations and maintenance service company. The acquisition will be completed in two tranches, with Suzlon initially acquiring a 51% stake for ₹4 billion (~$47.6 million), followed by an additional 25% stake within 18 months for ₹2.6 billion (~$30.9 million).
SYSO, a market operations service provider dedicated to renewable and energy storage assets, has <a href="https://cms.mercomindia.com/syso-secures-14-5-million-in-series-b-funding/" target="_blank" rel="noopener">raised</a> $14.5 million in Series B funding led by Kimmeridge, an alternative asset manager specializing in the energy sector, with participation from existing SYSO investor Lacuna Sustainable Investments. The funding will be used to expand into new markets and improve its service for developers and independent power producers for the energy transition across the power sector.
Electric vehicle manufacturer Kinetic Green <a href="https://www.mercomindia.com/ev-manufacturer-kinetic-green-raises-25-million-from-gpc" target="_blank" rel="noopener">secured</a> a ₹2.09 billion (~$25 million) investment from private equity firm Greater Pacific Capital, as part of an overall targeted Series A fundraiser of up to $40 million. The company plans to use the funds to scale production at its manufacturing facility in India, market and distribute its current products, including the newly launched ELuna, and research and develop new products.
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-peak-energy-secures-55-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Trina Solar Secures $235 Million Loan

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-trina-solar-secures-235-million-loan/" target="_blank" rel="noopener">Mercom Capital Group</a>
Trina Solar, a solar module manufacturer, and smart energy solutions provider <a href="https://mercomcapital.com/trina-solar-secures-235-million-loan-solar-pv-manufacturing-plant/" target="_blank" rel="noopener">secured</a> a $235 million non-recourse senior secured term green loan facility from Standard Chartered to support the development, construction, and operation of a 1.35 million square foot solar photovoltaic manufacturing plant in Wilmer, Texas. Standard Chartered served as the sole lead structuring bank and book-runner for the financing.
Powerdot, a provider of EV charging solutions, has <a href="https://mercomcapital.com/powerdot-secures-180-million-green-financing/" target="_blank" rel="noopener">secured</a> €165 million (~$180 million) in green financing from ABN Amro, BNP Paribas, ING, MUFG Bank, Santander, and Société Générale. The €165 million (~$180 million) green financing facility – with an additional €60 million (~$65.5 million) of the uncommitted accordion facility – will be used to expand Powerdot’s network of EV charging points to reach more than 3,100 locations by 2026, enhance the technology and user experience, and grow and develop its team.
Electric vehicle charger manufacturer Exicom Tele-systems <a href="https://www.mercomindia.com/exicom-to-acquire-australia-based-ev-charger-company-tritium" target="_blank" rel="noopener">announced</a> it is acquiring Tritium, an Australia-based manufacturer of DC fast chargers. Tritium has a presence in 47 countries. Exicom will gain access to Tritium’s manufacturing facility in Tennessee, U.S., and an engineering center in Brisbane, Australia. Tritium has sold over 13,000 DC fast chargers. It designs and manufactures proprietary hardware and software to create liquid-cooled DC fast chargers for electric vehicles.
Allego, an electric vehicle charging solutions provider, <a href="https://mercomcapital.com/ev-charging-provider-allego-secures-22-million-loan/" target="_blank" rel="noopener">secured</a> a €20 million (~$22 million) loan from the European Bank of Reconstruction and Development. This funding is a part of the CROSS-E project co-funded by the European Union. Allego plans to deploy over 200 light and heavy-duty vehicle (LDV /HDV) EV recharging points across over 50 strategic locations in Poland. The project in Poland is co-funded by the EU’s Connecting Europe Facility program, supporting European transport infrastructure projects along the TEN-T Network and in Urban Nodes.
Electric vehicle battery manufacturing company Neuron Energy has <a href="https://www.mercomindia.com/ev-battery-manufacturer-neuron-energy-raises-%E2%82%B9200-million" target="_blank" rel="noopener">raised</a> ₹200 million (~$2.4 million) in a Series A funding from investors, including the Chona Family and Capri Global Family Office. The funds will be used to bolster Neuron’s research and development capabilities. This will include establishing an R&amp;D laboratory in Pune and a manufacturing facility in Delhi, India. The company aims to clock ₹1.5 – 2 billion (~$17.86 – 23.81 million) in revenue in the current fiscal year.
Wind turbine manufacturer Suzlon Energy has <a href="https://www.mercomindia.com/suzlon-acquires-majority-renom-energy-services" target="_blank" rel="noopener">announced</a> the acquisition of a 76% stake in Renom Energy Services, a multi-brand renewable energy operations and maintenance service company. The acquisition will be completed in two tranches, with Suzlon initially acquiring a 51% stake for ₹4 billion (~$47.6 million), followed by an additional 25% stake within 18 months for ₹2.6 billion (~$30.9 million).
SYSO, a market operations service provider dedicated to renewable and energy storage assets, has <a href="https://mercomcapital.com/syso-secures-14-5-million-in-series-b-funding/" target="_blank" rel="noopener">raised</a> $14.5 million in Series B funding led by Kimmeridge, an alternative asset manager specializing in the energy sector, with participation from existing SYSO investor Lacuna Sustainable Investments. The funding will be used to expand into new markets and improve its service for developers and independent power producers for the energy transition across the power sector.
Electric vehicle manufacturer Kinetic Green <a href="https://www.mercomindia.com/ev-manufacturer-kinetic-green-raises-25-million-from-gpc" target="_blank" rel="noopener">secured</a> a ₹2.09 billion (~$25 million) investment from private equity firm Greater Pacific Capital, as part of an overall targeted Series A fundraiser of up to $40 million. The company plans to use the funds to scale production at its manufacturing facility in India, market and distribute its current products, including the newly launched ELuna, and research and develop new products.
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-ugowork-raises-51-million-in-funding" target="_blank" rel="noopener">roundup</a>.

<a href="https://powerdot.eu/en" target="_blank" rel="noopener">Powerdot</a>, a provider of EV charging solutions, has secured €165 million (~$180 million) in green financing from ABN Amro, BNP Paribas, ING, MUFG Bank, Santander, and Société Générale.
The €165 million (~$180 million) green financing facility – with an additional €60 million (~$65.5 million) of the uncommitted accordion facility – will be used to expand Powerdot’s network of EV charging points to reach more than 3,100 locations by 2026, enhance the technology and user experience, and grow and develop its team. Additionally, the company has secured more than €465 million (~$508 million) in funding commitments to date.
Earlier this year, the company <a href="https://cms.mercomindia.com/powerdot-secures-108-million-funding/" target="_blank" rel="noopener">raised</a> €100 million (~$108 million) in follow-on capital raise led by Antin Infrastructure Partners and Arié Group.
Luís Santiago Pinto, Powerdot co-founder and CEO, remarked, “This substantial financing is a testament to our financial partners’ confidence in Powerdot’s vision and operational capabilities. With this funding, we are poised to accelerate our deployment strategy, bringing EV charging solutions to more European locations and supporting a widespread transition to sustainable transportation.” He added, “Powerdot’s long-term ambition and goals allow us to explore different financial tools for funding. With great excitement, we welcome ABN Amro, BNP Paribas, ING, MUFG Bank, Santander, and Société Générale to our mission of accelerating sustainable mobility.”
As part of this financing, Santander acted as sole financial advisor and green financing coordinator, McKinsey &amp; Co. acted as commercial and technical adviser, and Clifford Chance and PLMJ acted as legal advisers to Powerdot.
According to Mercom’s 1H and Q2 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-q2-2024-funding-ma-report-storage-grid/" target="_blank" rel="noopener">report</a> for Energy Storage and Smart Grid, announced debt and public market financing for Smart Grid technology companies totaled $321 million in seven deals in 1H 2024 compared to $839 million in the same number of deals in 1H 2023.
Last week, Allego, an electric vehicle charging solutions provider, <a href="https://cms.mercomindia.com/ev-charging-provider-allego-secures-22-million-loan/" target="_blank" rel="noopener">secured</a> a €20 million (~$22 million) loan from the European Bank of Reconstruction and Development (EBRD).

Powerdot Secures $180 Million Green Financing

Powerdot, a provider of EV charging solutions, <a href="https://cms.mercomindia.com/powerdot-secures-108-million-funding/" target="_blank" rel="noopener">announced</a> the successful closing of a €100 million (~$108 million) funding round led by Antin Infrastructure Partners and Arié Group. The investment enables Powerdot to further expand its charging infrastructure, specifically through the installation of an additional 10,000 EV charging points. The company currently operates over 5,000 charging points across some 1,300 locations and plans to install an additional 10,000 charging points at over 1,400 locations.
Sosteneo, an investment manager that specializes in greenfield infrastructure projects related to the energy transition, has <a href="https://cms.mercomindia.com/sosteneo-acquires-49-stake-in-enel-libra-flexsys/" target="_blank" rel="noopener">signed</a> an agreement with Enel through its subsidiary Enel Italia for the acquisition on behalf of clients of 49% of the share capital of Enel Libra Flexsys for €1.1 billion (~$1.19 billion) upon closing. Enel Libra Flexsys was established to develop and manage a large portfolio of energy transition infrastructure in Italy.
Anthro Energy, a provider of lithium-based battery solutions, <a href="https://cms.mercomindia.com/battery-startup-anthro-energy-raises-series-a-funding/" target="_blank" rel="noopener">announced</a> the closing of an over-subscribed $20 million Series A funding round. Collaborative Fund led the financing, with significant participation from existing investors, including Union Square Ventures, Emerson Collective, and Voyager Ventures. Energy Revolution Ventures, Ultratech Capital Partners, Nor’easter Ventures, and Overlap Holdings also participated in the round. The funds gathered will be used to establish a Bay Area-based pilot production facility to commercialize and scale their battery technologies.
SolaREIT, a renewable energy real estate investment company, <a href="https://cms.mercomindia.com/renewable-investment-company-solareit-secures-debt/" target="_blank" rel="noopener">closed</a> a revolving credit facility of $30 Million with Atlantic Union Bank (AUB). This debt funding will allow the company to continue scaling the business and expanding financing solutions for solar and storage developers and landowners. It is the second revolving credit facility the partners have closed with AUB. The first was a $15 million facility announced last year.
1KOMMA5°, a producer of energy systems and software, has <a href="https://1komma5grad.com/de/magazin/pressemitteilungen/bisher-groesste-investition-von-1komma5-uebernahme-der-australischen-arkana-energy-group" target="_blank" rel="noopener">acquired</a> an Australia-based renewable energy company Arkana Energy Group. The acquisition will help to expand the company&#8217;s market presence. Arkana has installed more than 15,000 solar plants in private and commercial buildings across its home country to date. 1KOMMA5° operates in six locations in Australia and is expected to more than double its footprint through the new partnership. The company plans to offer the Heartbeat energy management system to Australian customers in the future.
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-ascend-elements-raises-162-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Powerdot Secures $108 Million

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-powerdot-secures-108-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Powerdot, a provider of EV charging solutions, <a href="https://mercomcapital.com/powerdot-secures-108-million-funding/" target="_blank" rel="noopener">announced</a> the successful closing of a €100 million (~$108 million) funding round led by Antin Infrastructure Partners and Arié Group. The investment enables Powerdot to further expand its charging infrastructure, specifically through the installation of an additional 10,000 EV charging points. The company currently operates over 5,000 charging points across some 1,300 locations and plans to install an additional 10,000 charging points at over 1,400 locations.
Sosteneo, an investment manager that specializes in greenfield infrastructure projects related to the energy transition, has <a href="https://mercomcapital.com/sosteneo-acquires-49-stake-in-enel-libra-flexsys/" target="_blank" rel="noopener">signed</a> an agreement with Enel through its subsidiary Enel Italia for the acquisition on behalf of clients of 49% of the share capital of Enel Libra Flexsys for €1.1 billion (~$1.19 billion) upon closing. Enel Libra Flexsys was established to develop and manage a large portfolio of energy transition infrastructure in Italy.
Anthro Energy, a provider of lithium-based battery solutions, <a href="https://mercomcapital.com/battery-startup-anthro-energy-raises-series-a-funding/" target="_blank" rel="noopener">announced</a> the closing of an over-subscribed $20 million Series A funding round. Collaborative Fund led the financing, with significant participation from existing investors, including Union Square Ventures, Emerson Collective, and Voyager Ventures. Energy Revolution Ventures, Ultratech Capital Partners, Nor’easter Ventures, and Overlap Holdings also participated in the round. The funds gathered will be used to establish a Bay Area-based pilot production facility to commercialize and scale their battery technologies.
SolaREIT, a renewable energy real estate investment company, <a href="https://mercomcapital.com/renewable-investment-company-solareit-secures-debt/" target="_blank" rel="noopener">closed</a> a revolving credit facility of $30 Million with Atlantic Union Bank (AUB). This debt funding will allow the company to continue scaling the business and expanding financing solutions for solar and storage developers and landowners. It is the second revolving credit facility the partners have closed with AUB. The first was a $15 million facility announced last year.
1KOMMA5°, a producer of energy systems and software, has <a href="https://1komma5grad.com/de/magazin/pressemitteilungen/bisher-groesste-investition-von-1komma5-uebernahme-der-australischen-arkana-energy-group" target="_blank" rel="noopener">acquired</a> an Australia-based renewable energy company Arkana Energy Group. The acquisition will help to expand the company&#8217;s market presence. Arkana has installed more than 15,000 solar plants in private and commercial buildings across its home country to date. 1KOMMA5° operates in six locations in Australia and is expected to more than double its footprint through the new partnership. The company plans to offer the Heartbeat energy management system to Australian customers in the future.
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-ascend-elements-raises-162-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://powerdot.eu/en" target="_blank" rel="noopener">Powerdot</a>, a provider of EV charging solutions, announced the successful closing of a €100 million (~$108 million) follow-on capital raise led by Antin Infrastructure Partners and Arié Group.
The investment enables Powerdot to expand its charging infrastructure further, specifically through the installation of an additional 10,000 EV charging points, as well as continue to establish strategic partnerships.
According to Powerdot, its growth in 2023 was marked by a 201% increase in operational charging points and a 218% rise in kWh consumption.
“This capital raise underscores the success and potential of Powerdot in the EV charging space. With over 5,000 charging points in operation and an additional 10,000 in deployment, this investment will catalyze transformative growth, enabling us to expand our network and contribute to the evolution of sustainable mobility.” Said Luís Santiago Pinto, CEO of Powerdot
The company stated that it has over 5,000 active charging points across 1,300 locations, with plans to deploy nearly 10,000 charging points across 1,400 locations. This capital infusion will fuel the expansion of Powerdot’s charging infrastructure, drive technological advancements, and strengthen partnerships to enhance the EV user experience.
“With this capital raise through our NextGen strategy, Powerdot will further expand the availability of affordable, fast charging stations to the public and foster the transition towards a more sustainable future. Powerdot represents the infrastructure of tomorrow – a next generation of critical infrastructure that is sustainable, scalable, and connected,” said Anand Jagannathan, Antin NextGen partner.
According to Mercom’s Annual and Q4 2023 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report</a> for Storage &amp; Smart Grid. VC funding in the Smart Grid sector decreased 55% YoY, with $1.5 billion in 47 deals in 2023 compared to $3.3 billion in 46 deals in 2022.
Recently, Daze, a provider of EV charging solutions, <a href="https://cms.mercomindia.com/daze-secures-16-million-series-a-funding/" target="_blank" rel="noopener">secured</a> €15 million (~$16.1 million) in Series A funding led by CDP Venture Capital through the EnergyTech compartment of the Corporate Partners I fund and the Green Transition fund, which utilizes resources allocated by the European Union through the NextGeneration EU initiative.

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