Nextpower Raises Guidance for FY 2027 on Strong Q1 Performance

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Base Power Raises $1 Billion in Series D Funding Round

TotalEnergies Acquires Shell’s 4 GW European Renewables Portfolio

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

Ekoenergetyka, a manufacturer of EV chargers, has <a href="https://cms.mercomindia.com/ev-charger-maker-ekoenergetyka-secures-170-million-loan/" target="_blank" rel="noopener">secured</a> a loan of PLN 691 million (~$170 million) from Bank Pekao, which is the leader and agent of the consortium. The funding will provide the company with the opportunity for further development both in the area of international expansion across Europe and in the area of planned ambitious investments. Upon meeting certain conditions, the loan amount can also be increased up to PLN741 million (~$183 million).
Swift Solar, a company that designs and manufactures Perovskite-based photovoltaic cells, <a href="https://cms.mercomindia.com/swift-solar-raises-27-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> $27 million in a Series A funding round co-led by Eni Next, Eni’s corporate venture capital arm, and Fontinalis Partners, a mobility and deep tech VC firm that invests in startup companies. With this funding round, the company has raised a total of $44 million.
Gorilla, a clean energy provider of data-driven solutions, has <a href="https://www.gorilla.co/en" target="_blank" rel="noopener">closed</a> €23 million (~$25 million) in a Series B funding round led by global venture capital firm Headline, with existing investors including Beringea and the Flemish investment company PMV. Gorilla offers solutions for utility companies to help maximize efficiency, understand energy portfolios influenced by distributed energy resources such as solar panels, wind turbines, and battery storage, ensure operational stability, and develop pricing strategies based on individual usage patterns.
UNIGRID, a provider of sodium-based battery solutions, <a href="https://cms.mercomindia.com/sodium-ion-battery-startup-unigrid-secures-12-million/" target="_blank" rel="noopener">raised</a> $12 million in an oversubscribed Series A funding round. The round was co-led by Transition VC and Ritz Venture Capital and joined by new investor Union Square Ventures. Existing investor Foothill Ventures also participated in this round. The company stated that this investment would accelerate and scale up its battery production to a megawatt-scale to satisfy the customer demand for electric mobility and stationary storage markets.
Samara, a provider of solar and energy storage solutions for households, <a href="https://cms.mercomindia.com/solar-energy-startup-samara-closes-10-million-series-a-funding/" target="_blank" rel="noopener">secured</a> a €9 million (~$10 million) in Series A funding round. With this funding, the company plans to expand its services, develop new products, and reach larger market segments with its financing solutions. This round was led by Green Generation Fund and Move Energy, accompanied by impact funds Ring Capital and Athletico Ventures.
Princeton NuEnergy, a provider of battery recycling solutions, <a href="https://cms.mercomindia.com/princeton-nuenergy-closed-oversubscribed-funding/" target="_blank" rel="noopener">closed</a> $30 million in an oversubscribed Series A funding round with a strategic investment from Samsung Venture Investment Corporation, Samsung&#8217;s corporate venture arm, investing in breakthrough technologies across industries and from Helium-3 Ventures. The funding brings the total amount raised by the company to over $55 million, including multiple U.S. Department of Energy grants totaling $18 million and a $7.9 million seed and angel rounds.
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-vulcan-energy-resources-secures/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: EV Charger Manufacturer Ekoenergetyka Secures $170 Million

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-ev-charger-manufacturer-ekoenergetyka-secures-170-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Ekoenergetyka, a manufacturer of EV chargers, has <a href="https://mercomcapital.com/ev-charger-maker-ekoenergetyka-secures-170-million-loan/" target="_blank" rel="noopener">secured</a> a loan of PLN 691 million (~$170 million) from Bank Pekao, which is the leader and agent of the consortium. The funding will provide the company with the opportunity for further development both in the area of international expansion across Europe and in the area of planned ambitious investments. Upon meeting certain conditions, the loan amount can also be increased up to PLN741 million (~$183 million).
Swift Solar, a company that designs and manufactures Perovskite-based photovoltaic cells, <a href="https://mercomcapital.com/swift-solar-raises-27-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> $27 million in a Series A funding round co-led by Eni Next, Eni’s corporate venture capital arm, and Fontinalis Partners, a mobility and deep tech VC firm that invests in startup companies. With this funding round, the company has raised a total of $44 million.
Gorilla, a clean energy provider of data-driven solutions, has <a href="https://mercomcapital.com/energy-data-startup-gorilla-raises-25-million-in-series-b-funding/" target="_blank" rel="noopener">closed</a> €23 million (~$25 million) in a Series B funding round led by global venture capital firm Headline, with existing investors including Beringea and the Flemish investment company PMV. Gorilla offers solutions for utility companies to help maximize efficiency, understand energy portfolios influenced by distributed energy resources such as solar panels, wind turbines, and battery storage, ensure operational stability, and develop pricing strategies based on individual usage patterns.
UNIGRID, a provider of sodium-based battery solutions, <a href="https://mercomcapital.com/sodium-ion-battery-startup-unigrid-secures-12-million/" target="_blank" rel="noopener">raised</a> $12 million in an oversubscribed Series A funding round. The round was co-led by Transition VC and Ritz Venture Capital and joined by new investor Union Square Ventures. Existing investor Foothill Ventures also participated in this round. The company stated that this investment would accelerate and scale up its battery production to a megawatt-scale to satisfy the customer demand for electric mobility and stationary storage markets.
Samara, a provider of solar and energy storage solutions for households, <a href="https://mercomcapital.com/solar-energy-startup-samara-closes-10-million-series-a-funding/" target="_blank" rel="noopener">secured</a> a €9 million (~$10 million) in Series A funding round. With this funding, the company plans to expand its services, develop new products, and reach larger market segments with its financing solutions. This round was led by Green Generation Fund and Move Energy, accompanied by impact funds Ring Capital and Athletico Ventures.
Princeton NuEnergy, a provider of battery recycling solutions, <a href="https://mercomcapital.com/princeton-nuenergy-closed-oversubscribed-funding/" target="_blank" rel="noopener">closed</a> $30 million in an oversubscribed Series A funding round with a strategic investment from Samsung Venture Investment Corporation, Samsung&#8217;s corporate venture arm, investing in breakthrough technologies across industries and from Helium-3 Ventures. The funding brings the total amount raised by the company to over $55 million, including multiple U.S. Department of Energy grants totaling $18 million and a $7.9 million seed and angel rounds.
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-vulcan-secures-44-millionhttps:/www.mercomindia.com/funding-and-ma-roundup-vulcan-secures-44-millionhttps:/www.mercomindia.com/funding-and-ma-roundup-vulcan-secures-44-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.samara.energy/" target="_blank" rel="noopener">Samara</a>, a provider of solar and energy storage solutions for households, secured a €9 million (~$10 million) in Series A funding round. With this funding, the company plans to expand its services, develop new products, and reach larger market segments with its financing solutions.
This round was led by Green Generation Fund and Move Energy, accompanied by impact funds Ring Capital and Athletico Ventures. Additionally, both Seaya and Pelion Green Future, the technology and sustainability-focused funds that led the pre-seed and seed rounds, have participated again in this round.
Founded in 2022 by Iván Cabezuela and Manel Pujol, the company is focused on assisting households in their energy transition and aims to become a decentralized energy provider for consumers. The company claims to have grown rapidly, expanding to cover around 74% of the national territory.
In addition to solar installations, Samara offers batteries for homes and electric vehicle chargers.
Per Spanish power grid operator Red Electrica de Espana, Spain generated 50.3% of its electricity from renewables during 2023, of which 14% was from solar.
According to Mercom’s Q1 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2024-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, global VC funding for the solar sector in Q1 2024 came to $406 million in 13 deals, an 81% decline YoY compared to $2.1 billion raised in 18 deals in Q1 2023. Funding declined 68% QoQ compared to the $1.3 billion raised in 19 deals in Q4 2023.
Volt Energy Group, a solar energy firm that develops, finances, and provides rooftop solar solutions, <a href="https://cms.mercomindia.com/volt-energy-group-raises-series-a-funding/" target="_blank" rel="noopener">raised</a> $6 million in a Series A funding round. This funding will be directed towards boosting their presence in the Florida residential market. Additionally, the group aims to extend its footprint into the commercial and industrial sectors globally.

Solar Energy Startup Samara Closes $10 Million Series A Funding

Rabo Investments has <a href="https://giga-storage.com/en/news/rabo-investments-acquires-a-participation-in-giga-storage/" target="_blank" rel="noopener">infused</a> an undisclosed amount in GIGA Storage, a large-scale battery energy storage project developer. The investment will enable GIGA Storage to expand its network of large-scale energy storage. GIGA Storage has 420 MWh of projects in the pipeline.
India-based automobile conglomerate and the parent company of Royal Enfield, Eicher Motors, said it would <a href="https://mercomindia.com/eicher-motors-to-acquire-in-e-motorcycle-firm-for-million/" target="_blank" rel="noopener">acquire</a> a 10.35% stake in European electric motorcycle manufacturer Stark Future with an initial equity investment of €50 million (~$53.2 million). Both Royal Enfield and Stark Future will use the investment for the electrification of motorcycles. The investment will help Enfield enter the electric mobility segment.
GCL Optoelectronic Material, a subsidiary of Hong Kong-listed GCL Technology Holdings, one of China’s largest photovoltaic materials makers, has <a href="https://www.dealstreetasia.com/stories/gcl-optoelectronic-material-series-b-321514" target="_blank" rel="noopener">secured</a> 500 million yuan (~$72 million) in a Series B extension round led by Temasek Holdings, Sequoia Capital China, and IDG Capital. The company will use the proceeds to upgrade the craftsmanship and equipment of its 100 MW large–area perovskite solar module assembly lines.
Suryanesia a clean energy startup that provides a SaaS platform for commercial and industrial clients to access renewable energy <a href="https://www.finsmes.com/2022/12/suryanesia-raises-us2m-in-seed-funding.html" target="_blank" rel="noopener">raised</a> $2 million in seed funding. The round was led by Intudo Ventures with participation from several angel investors. The company intends to use the funds to grow its team to accelerate marketing efforts and project delivery. With its Solar-as-a-Service solution, the company finances, installs, operates, and maintains solar power systems on its clients’ rooftops, and the clean energy generated helps clients save on electricity bills and reduce their carbon footprint.
Samara, a provider of solar energy-based solutions, <a href="https://www.eu-startups.com/2022/12/madrid-based-samara-scores-e4-5-million-to-help-households-transition-to-solar-energy/" target="_blank" rel="noopener">raised</a> €4.5 million (~$4.7 million) in seed funding led by Seaya and included participation from Pelion Green Future bringing the total funding raised by the company to €6.5 million (~$6.9 million). The funding will help in the company’s expansion efforts.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency 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-eqt-acquires-renewable-developer-madison-energy/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Rabobank Invests in Battery Energy Storage Project Developer

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-rabobank-invests-in-battery-energy-storage-project-developer/" target="_blank" rel="noopener">Mercom Capital Group</a>
Rabo Investments has <a href="https://giga-storage.com/en/news/rabo-investments-acquires-a-participation-in-giga-storage/" target="_blank" rel="noopener">infused</a> an undisclosed amount in GIGA Storage, a large-scale battery energy storage project developer. The investment will enable GIGA Storage to expand its network of large-scale energy storage. GIGA Storage has 420 MWh of projects in the pipeline.
India-based automobile conglomerate and the parent company of Royal Enfield, Eicher Motors, said it would <a href="https://mercomindia.com/eicher-motors-to-acquire-in-e-motorcycle-firm-for-million/" target="_blank" rel="noopener">acquire</a> a 10.35% stake in European electric motorcycle manufacturer Stark Future with an initial equity investment of €50 million (~$53.2 million). Both Royal Enfield and Stark Future will use the investment for the electrification of motorcycles. The investment will help Enfield enter the electric mobility segment.
GCL Optoelectronic Material, a subsidiary of Hong Kong-listed GCL Technology Holdings, one of China’s largest photovoltaic materials makers, has <a href="https://www.dealstreetasia.com/stories/gcl-optoelectronic-material-series-b-321514" target="_blank" rel="noopener">secured</a> 500 million yuan (~$72 million) in a Series B extension round led by Temasek Holdings, Sequoia Capital China, and IDG Capital. The company will use the proceeds to upgrade the craftsmanship and equipment of its 100 MW large–area perovskite solar module assembly lines.
Suryanesia a clean energy startup that provides a SaaS platform for commercial and industrial clients to access renewable energy <a href="https://www.finsmes.com/2022/12/suryanesia-raises-us2m-in-seed-funding.html" target="_blank" rel="noopener">raised</a> $2 million in seed funding. The round was led by Intudo Ventures with participation from several angel investors. The company intends to use the funds to grow its team to accelerate marketing efforts and project delivery. With its Solar-as-a-Service solution, the company finances, installs, operates, and maintains solar power systems on its clients’ rooftops, and the clean energy generated helps clients save on electricity bills and reduce their carbon footprint.
Samara, a provider of solar energy-based solutions, <a href="https://www.eu-startups.com/2022/12/madrid-based-samara-scores-e4-5-million-to-help-households-transition-to-solar-energy/" target="_blank" rel="noopener">raised</a> €4.5 million (~$4.7 million) in seed funding led by Seaya and included participation from Pelion Green Future bringing the total funding raised by the company to €6.5 million (~$6.9 million). The funding will help in the company’s expansion efforts.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week’s funding <a href="https://mercomindia.com/funding-and-ma-roundup-eqt-acquires-renewable-developer-madison-energy/" target="_blank" rel="noopener">roundup</a>.

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