SECI Seeks Trading Partner to Sell Renewable Energy

PM Surya Ghar Powers 5 Million Homes, Total Capacity Hits 15 GW

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Base Power Raises $1 Billion in Series D Funding Round

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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

Skeleton Technologies, a manufacturer of ultracapacitor-based energy storage solutions, <a href="https://cms.mercomindia.com/supercapacitor-skeleton-technologies-raises-million/" target="_blank" rel="noopener">raised</a> €108 million (~$114 million) in a funding Series E1 round to expand the company’s product development and finance the manufacturing expansion for supercapacitors. The round saw participation from Siemens Financial Services (SFS), Marubeni Corporation, Berkshire Hathaway, and Brazilian mining company CBMM. With the concluded Round E1, Skeleton&#8217;s total funding exceeds €300 million (~$316 million).
Renewable energy solutions provider KPI Green Energy is <a href="https://www.mercomindia.com/kpi-green-acquire-majority-stake-kpark-sunbeat" target="_blank" rel="noopener">acquiring</a> a 99.9% equity stake in solar power developer KPark Sunbeat for a consideration of ₹1.26 billion (~$15.1 million). In a regulatory filing, KPI Green Energy said its board of directors had approved the acquisition of 9,900 equity shares of KPark Sunbeat in a related party transaction. KPI has been consolidating the solar projects of the KP Group into a single entity, KPI Green Energy.
myenergi, a manufacturer of eco-smart home technology in the UK, <a href="https://cms.mercomindia.com/smart-home-company-myenergi-gets-36-million/" target="_blank" rel="noopener">secured</a> an investment of £30 million (~$36 million) from Energy Impact Partners. The investment will help the company’s growth and internationalization plans. The company had raised another debt financing earlier this year from HSBC. Jefferies, a leading global full-service investment banking and capital markets firm, acted as Sole Financial Advisor to myenergi.
raicoon, a provider of AI-based solutions for autonomous solar operations, <a href="https://cms.mercomindia.com/autonomous-solar-ai-company-raicoon-raises/">raised</a> €4 million (~$4.2 million) in a seed funding round. Premier climate, tech, and impact funds PUSH VC, Voltares, and a private family office contributed to the strategic funding round. The company plans to use the funding to tap into new markets and enhance its product offering.
Birla Carbon, a group company of the diversified Aditya Birla Group, has <a href="https://www.mercomindia.com/birla-carbon-acquires-battery-materials-nanocyl" target="_blank" rel="noopener">acquired</a> Nanocyl, a multi-wall carbon nanotube manufacturer based in Sambreville, Belgium. The acquisition will help Birla Carbon, a manufacturer and supplier of carbon black, expand its presence in materials critical to lithium-ion battery performance. Birla Carbon provides sustainable carbon black solutions that enhance the performance of energy systems, among other products.
Hyderabad-based rooftop solar solutions company Freyr Energy has <a href="https://www.mercomindia.com/rooftop-solar-million-equity-investment" target="_blank" rel="noopener">secured</a> an equity investment of $7 million, which it said will be used to increase the adoption of solar energy among retail customers in India. The funding round was led by EDFI ElectriFI, a European Union-funded impact investment facility managed by EDFI Management Company, which contributed $3 million to the investment.
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/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-mecaware-raises-42-million/" target="_blank" rel="noopener">roundup</a>

Funding and M&A Roundup: Skeleton Technologies Raises $114 Million

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-skeleton-technologies-raises-114-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Skeleton Technologies, a manufacturer of ultracapacitor-based energy storage solutions, <a href="https://mercomcapital.com/supercapacitor-skeleton-technologies-raises-million/" target="_blank" rel="noopener">raised</a> €108 million (~$114 million) in a funding Series E1 round to expand the company’s product development and finance the manufacturing expansion for supercapacitors. The round saw participation from Siemens Financial Services (SFS), Marubeni Corporation, Berkshire Hathaway, and Brazilian mining company CBMM. With the concluded Round E1, Skeleton&#8217;s total funding exceeds €300 million (~$316 million).
Renewable energy solutions provider KPI Green Energy is <a href="https://www.mercomindia.com/kpi-green-acquire-majority-stake-kpark-sunbeat" target="_blank" rel="noopener">acquiring</a> a 99.9% equity stake in solar power developer KPark Sunbeat for a consideration of ₹1.26 billion (~$15.1 million). In a regulatory filing, KPI Green Energy said its board of directors had approved the acquisition of 9,900 equity shares of KPark Sunbeat in a related party transaction. KPI has been consolidating the solar projects of the KP Group into a single entity, KPI Green Energy.
myenergi, a manufacturer of eco-smart home technology in the UK, <a href="https://mercomcapital.com/smart-home-company-myenergi-gets-36-million/" target="_blank" rel="noopener">secured</a> an investment of £30 million (~$36 million) from Energy Impact Partners. The investment will help the company’s growth and internationalization plans. The company had raised another debt financing earlier this year from HSBC. Jefferies, a leading global full-service investment banking and capital markets firm, acted as Sole Financial Advisor to myenergi.
raicoon, a provider of AI-based solutions for autonomous solar operations, <a href="https://mercomcapital.com/autonomous-solar-ai-company-raicoon-raises/">raised</a> €4 million (~$4.2 million) in a seed funding round. Premier climate, tech, and impact funds PUSH VC, Voltares, and a private family office contributed to the strategic funding round. The company plans to use the funding to tap into new markets and enhance its product offering.
Birla Carbon, a group company of the diversified Aditya Birla Group, has <a href="https://www.mercomindia.com/birla-carbon-acquires-battery-materials-nanocyl" target="_blank" rel="noopener">acquired</a> Nanocyl, a multi-wall carbon nanotube manufacturer based in Sambreville, Belgium. The acquisition will help Birla Carbon, a manufacturer and supplier of carbon black, expand its presence in materials critical to lithium-ion battery performance. Birla Carbon provides sustainable carbon black solutions that enhance the performance of energy systems, among other products.
Hyderabad-based rooftop solar solutions company Freyr Energy has <a href="https://www.mercomindia.com/rooftop-solar-million-equity-investment" target="_blank" rel="noopener">secured</a> an equity investment of $7 million, which it said will be used to increase the adoption of solar energy among retail customers in India. The funding round was led by EDFI ElectriFI, a European Union-funded impact investment facility managed by EDFI Management Company, which contributed $3 million to the investment.
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/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-mecaware-raises-42-million/" target="_blank" rel="noopener">roundup</a>

<a href="https://www.skeletontech.com/" target="_blank" rel="noopener">Skeleton Technologies</a>, an Estonia-based manufacturer of ultracapacitor-based energy storage, raised €37.6 million (~$42.6 million) in a Series D funding round from a group of investors.
Including the latest round, the company has raised over ​​€200 million (~$223 million) to date.
The Round D3 was led by Taavet Hinrikus, from Taavet+Sten with Nidoco AB, EIT Innoenergy, Bengt Wahlqvist, co-founder of battery charging specialist CTEK, a group of founding team members of Adyen and others joining the round.
&#8220;This new funding is one of the milestones allowing us to execute our long-term strategy and not to lose any speed in scaling up our manufacturing to service the rapidly growing customer demand,&#8221; said Taavi Madiberk, CEO and co-founder of Skeleton Technologies.
“Although our focus is on scaling up, we continue to invest strongly into R&amp;D. We firmly believe that to meet the Paris climate targets, additional fundamental innovation in energy storage is needed, and deep tech companies will execute this,” he added.
According to the company, the investments will be used to scale up the supercapacitor production in Saxony, Germany, to meet customer demand and develop new battery technologies based on curved graphene.
“Skeleton Technologies’ supercapacitors can be charged in a matter of seconds and have 1 million charge cycles. This, coupled with high efficiency, has made them the supplier of choice for blue-chip companies from automotive to grid and industrial applications,” commented investor Taavet Hinrikus.
According to Mercom’s recently published Q4 2021 and Annual funding and M&amp;A <a href="https://cms.mercomindia.com/product/2021-q4-annual-funding-ma-report-storage-grid-efficiency/">report</a> for storage, grid, and efficiency, VC funding for battery storage companies totaled $8.8 billion, compared to $1.6 billion in 2020, a 470% increase year over year.
In <a href="https://mercomindia.com/skeleton-technologies-raises/" target="_blank" rel="noopener">January</a> 2020, Skeleton Technologies raised €41.3 million (~$48.5 million) in a Series D financing round from EIT InnoEnergy, MM Grupp, FirstFloor Capital, Harju Elekter, and a group of entrepreneurs and European industrial investors. Earlier this week, Addionics, an Israel-based chemistry-agnostic battery technology company, <a href="https://cms.mercomindia.com/israeli-battery-manufacturer-addionics-funding/" target="_blank" rel="noopener">raised</a> $27 million in a Series A funding round.

Supercapacitor Maker Skeleton Raises $42.6 Million in Series D Funding

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