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

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

EDP, a renewable energy power producer, <a href="https://cms.mercomindia.com/edp-acquires-44-mw-solar-project-portfolio-in-brazil/" target="_blank" rel="noopener">announced</a> the acquisition of 16 solar projects from Tangipar Group, a solar energy company in Brazil. The projects in Bahia, Mato Grosso, Mato Grosso do Sul, and Paraná, have a total capacity of 44.3 MW. Five of the 16 projects have already been completed, with the remaining ones expected to be operational by 2025. The planned operational capacities include 10.9 MW in Bahia, 12.5 MW in Mato Grosso, 12.9 MW in Mato Grosso do Sul, and 7.7 MW in Paraná.
Westbridge Renewable Energy (Westbridge), a Canada-based solar project developer, <a href="https://cms.mercomindia.com/westbridge-sells-332-mw-sunnynook-solar-project-in-alberta/" target="_blank" rel="noopener">announced</a> that it closed the sale of its 75%-owned 332 MWp Sunnynook solar project in Alberta. A subsidiary of METLEN Energy &amp; Metals, formerly known as Mytilineos, acquired the solar project. The Sunnynook project is the second to reach the ready-to-build stage in 2024. METLEN will build the solar project.
SSE Renewables, a developer specializing in renewable energy projects, <a href="https://cms.mercomindia.com/sse-acquires-120-mw-240-mwh-battery-storage-project-in-ireland/" target="_blank" rel="noopener">announced</a> that it has acquired the project development rights for a 120 MW/240 MWh grid-scale battery energy storage system (BESS) in Ireland from Low Carbon, a U.K.-based renewable energy firm. Under the deal, SSE acquired the Thornsberry BESS project in County Offaly from Grid Systems Services, a battery storage project developer owned by Low Carbon.
Eku Energy, an energy storage project developer, <a href="https://cms.mercomindia.com/eku-energy-secures-financing-for-250-mw-williamsdale-energy-storage-project/" target="_blank" rel="noopener">announced</a> that it reached financial closure for its 250 MW/500 MWh Williamsdale battery energy storage system located in the Australian Capital Territory (ACT). Tesla will supply Megapack technology for the project. Consolidated Power Projects will supply the Balance of Plant as Eku Energy’s appointed construction partner and Eku Energy will manage the project. The project is a part of the ACT Government’s Big Canberra Battery project, connecting to the Evoenergy electricity distribution network.
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-primergy-secures-225-million-financing-valley-fire-portfolio/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: EDP Acquires 44 MW Solar Project Portfolio in Brazil

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-edp-acquires-solar-project-brazil/" target="_blank" rel="noopener">Mercom Capital Group</a>
EDP, a renewable energy power producer, <a href="https://mercomcapital.com/edp-acquires-44-mw-solar-project-portfolio-in-brazil/" target="_blank" rel="noopener">announced</a> the acquisition of 16 solar projects from Tangipar Group, a solar energy company in Brazil. The projects in Bahia, Mato Grosso, Mato Grosso do Sul, and Paraná, have a total capacity of 44.3 MW. Five of the 16 projects have already been completed, with the remaining ones expected to be operational by 2025. The planned operational capacities include 10.9 MW in Bahia, 12.5 MW in Mato Grosso, 12.9 MW in Mato Grosso do Sul, and 7.7 MW in Paraná.
Westbridge Renewable Energy (Westbridge), a Canada-based solar project developer, <a href="https://mercomcapital.com/westbridge-sells-332-mw-sunnynook-solar-project-in-alberta/" target="_blank" rel="noopener">announced</a> that it closed the sale of its 75%-owned 332 MWp Sunnynook solar project in Alberta. A subsidiary of METLEN Energy &amp; Metals, formerly known as Mytilineos, acquired the solar project. The Sunnynook project is the second to reach the ready-to-build stage in 2024. METLEN will build the solar project.
SSE Renewables, a developer specializing in renewable energy projects, <a href="https://mercomcapital.com/sse-acquires-120-mw-240-mwh-battery-storage-project-in-ireland/" target="_blank" rel="noopener">announced</a> that it has acquired the project development rights for a 120 MW/240 MWh grid-scale battery energy storage system (BESS) in Ireland from Low Carbon, a U.K.-based renewable energy firm. Under the deal, SSE acquired the Thornsberry BESS project in County Offaly from Grid Systems Services, a battery storage project developer owned by Low Carbon.
Eku Energy, an energy storage project developer, <a href="https://mercomcapital.com/eku-energy-secures-financing-for-250-mw-williamsdale-energy-storage-project/" target="_blank" rel="noopener">announced</a> that it reached financial closure for its 250 MW/500 MWh Williamsdale battery energy storage system located in the Australian Capital Territory (ACT). Tesla will supply Megapack technology for the project. Consolidated Power Projects will supply the Balance of Plant as Eku Energy’s appointed construction partner and Eku Energy will manage the project. The project is a part of the ACT Government’s Big Canberra Battery project, connecting to the Evoenergy electricity distribution network.
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-primergy-secures-225-million-financing-valley-fire-portfolio/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.sserenewables.com/" target="_blank" rel="noopener">SSE Renewables</a>, a developer specializing in renewable energy projects, announced that it has acquired the project development rights for a 120 MW/240 MWh grid-scale battery energy storage system (BESS) in Ireland. The acquisition was made from Low Carbon, a U.K.-based renewable energy firm.
Under the deal, SSE acquired the Thornsberry BESS project in County Offaly from Grid Systems Services, a battery storage project developer owned by Low Carbon.
The Thornsberry project is in the towns of Derrynagall and Ballydaly near Tullamore, with planning consent for a grid-scale BESS. In addition, it has a grid connection offer to connect 120 MW of import/export capacity to Ireland’s national grid.
The project could enter the construction stage and reach commercial operation by the end of the decade but is subject to a final investment decision by SSE Renewables. KPMG and Addleshaw Goddard advised Grid Systems Services, while A&amp;L Goodbody advised SSE Renewables on the transaction.
As per the company, the project will have the capacity to store up to 240 MWh of renewable electricity, providing backup energy to the equivalent of over 115,000 households in Ireland for up to two hours at a time.
In May, the company also announced the acquisition of the 100 MW/200 MWh Derrymeen project at Dungannon in Northern Ireland.
According to Mercom’s 9M and Q3 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-and-q3-2024-funding-and-ma-report-for-storage-and-grid/" target="_blank" rel="noopener">Report</a> for Energy Storage and Smart Grid, in 9M 2024, there were 22 energy storage project M&amp;A transactions (one disclosed) compared to 22 transactions (four disclosed) in 9M 2023.
In October, Low Carbon <a href="https://cms.mercomindia.com/low-carbon-sells-6gw-battery-storage-projects-in-the-netherlands/" target="_blank" rel="noopener">sold</a> 6 GW of energy storage projects in the Netherlands. LC Energy, a joint venture between Low Carbon and QING, developed those storage assets.

SSE Acquires 120 MW/ 240 MWh Battery Storage Project in Ireland

Scale Microgrids, a vertically integrated distributed energy platform, <a href="https://cms.mercomindia.com/scale-microgrids-acquires-500-mw-community-solar-projects/" target="_blank" rel="noopener">entered</a> into a definitive agreement with Gutami to acquire 500 MW of distributed solar and storage projects. All the projects are located across multiple states, including California and New York. The acquisition is built on the company’s existing 100 MW partnership in New York. Scale and Gutami have executed an expansion agreement under which Gutami will develop 500 MW of energy transition infrastructure assets, which Scale will acquire, finance, and own.
Infiniti Energy, a solar project developer and independent power producer, <a href="https://cms.mercomindia.com/infiniti-energy-closes-financing-commercial-solar-project/" target="_blank" rel="noopener">announced</a> the closure of an $83 million structured finance facility with Fifth Third Bank, who acted as the administrative agent, to support a portfolio totaling 21 MW commercial solar projects. The construction facility is being financed through Fiera Private Debt, and Flagstar Bank is providing the tax equity.
FP Lux, an investment firm, through its FP Lux Energy Transition Fund, <a href="https://www.re-cap.ch/wp-content/uploads/2024/01/2024-01-18_recap-global_investors_FP_Lux_Group_buys_solar-park_portfolio_in_Italy_RZ.pdf" target="_blank" rel="noopener">announced</a> the acquisition of 114 MW of solar projects in Italy from PNE, a German-based renewable energy project developer. The deal covers twelve photovoltaic projects across Italy that can supply a medium-sized city with 75,000 households with green electricity, saving up to 104,400 tons of CO2 per year.
SSE Renewables, a developer and operator of renewable energy projects, <a href="https://cms.mercomindia.com/sse-renewables-acquires-400-mw-solar-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a 400 MW solar project portfolio in Poland from IBC Solar, a solar project developer. The solar projects acquired are currently in the early stage of development. This follows the company’s earlier acquisition of 500 MW solar projects in Poland from Optisol. The two solar portfolios bring the company’s prospective pipeline of solar PV projects in Poland to 900 MW.
Globeleq, an independent solar power producer, <a href="https://cms.mercomindia.com/globeleq-secures-37-million-debt-financing-for-solar-projects/" target="_blank" rel="noopener">announced</a> the completion of a $37 million senior debt restructuring for 11 MW of Aries and 11 MW of Konkoonsies solar projects in the Northern Cape of South Africa. By lowering the cost of debt for the projects, the restructuring led by Standard Bank Limited allows for a significant reduction in wholesale electricity prices from the projects.
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-mytilineos-secures-financing-588-mw-solar-portfolio/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Scale Microgrids Acquires 500 MW Community Solar Projects

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-scale-microgrids-acquires-solar-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
Scale Microgrids, a vertically integrated distributed energy platform, <a href="https://mercomcapital.com/scale-microgrids-acquires-500-mw-community-solar-projects/" target="_blank" rel="noopener">entered</a> into a definitive agreement with Gutami to acquire 500 MW of distributed solar and storage projects. All the projects are located across multiple states, including California and New York. The acquisition is built on the company’s existing 100 MW partnership in New York. Scale and Gutami have executed an expansion agreement under which Gutami will develop 500 MW of energy transition infrastructure assets, which Scale will acquire, finance, and own.
Infiniti Energy, a solar project developer and independent power producer, <a href="https://mercomcapital.com/infiniti-energy-closes-financing-commercial-solar-project/" target="_blank" rel="noopener">announced</a> the closure of an $83 million structured finance facility with Fifth Third Bank, who acted as the administrative agent, to support a portfolio totaling 21 MW commercial solar projects. The construction facility is being financed through Fiera Private Debt, and Flagstar Bank is providing the tax equity.
FP Lux, an investment firm, through its FP Lux Energy Transition Fund, <a href="https://www.re-cap.ch/wp-content/uploads/2024/01/2024-01-18_recap-global_investors_FP_Lux_Group_buys_solar-park_portfolio_in_Italy_RZ.pdf" target="_blank" rel="noopener">announced</a> the acquisition of 114 MW of solar projects in Italy from PNE, a German-based renewable energy project developer. The deal covers twelve photovoltaic projects across Italy that can supply a medium-sized city with 75,000 households with green electricity, saving up to 104,400 tons of CO2 per year.
SSE Renewables, a developer and operator of renewable energy projects, <a href="https://mercomcapital.com/sse-renewables-acquires-400-mw-solar-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition of a 400 MW solar project portfolio in Poland from IBC Solar, a solar project developer. The solar projects acquired are currently in the early stage of development. This follows the company’s earlier acquisition of 500 MW solar projects in Poland from Optisol. The two solar portfolios bring the company’s prospective pipeline of solar PV projects in Poland to 900 MW.
Globeleq, an independent solar power producer, <a href="https://mercomcapital.com/globeleq-secures-37-million-debt-financing-for-solar-projects/" target="_blank" rel="noopener">announced</a> the completion of a $37 million senior debt restructuring for 11 MW of Aries and 11 MW of Konkoonsies solar projects in the Northern Cape of South Africa. By lowering the cost of debt for the projects, the restructuring led by Standard Bank Limited allows for a significant reduction in wholesale electricity prices from the projects.
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-mytilineos-secures-financing-588-mw-solar-portfolio/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.sserenewables.com/" target="_blank" rel="noopener">SSE Renewables</a>, a developer and operator of renewable energy projects, announced the acquisition of a 400 MW solar project portfolio in Poland from IBC Solar, a solar project developer.
The solar projects acquired are currently in the early stage of development. This follows the company&#8217;s earlier acquisition of 500 MW solar projects in Poland from Optisol.
The two solar portfolios bring the company&#8217;s prospective pipeline of solar PV projects in Poland to 900 MW.
A small upfront payment will be made to the developers, with further payments dependent upon reaching key milestones in the development process. No significant capex will be committed by SSE Renewables until final investment decisions have been taken.
Richard Cave-Bigley, Director of Solar &amp; Battery, SSE Renewables, said: &#8220;We see Poland as one of the fastest growing solar markets in Europe, and these two deals enable us to develop our pipeline with European partners. We see solar technology as a key part of SSE Renewables&#8217; ongoing investment in net zero infrastructure. We look forward to supporting our partners IBC Solar and Optisol with the delivery of these projects and, in turn, assisting Poland with its ambitious decarbonization strategy.&#8221;
Patrik Danz, CSO of IBC Solar, said: &#8220;The Polish photovoltaic market has a lot of potential and will grow continuously in the coming years. We are looking forward to a successful cooperation with SSE Renewables, which will make another important contribution to the energy transition in Poland.&#8221;
According to Mercom&#8217;s 9M and Q3 2023 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2023-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, in the first nine months (9M) of 2023, there were 166 project acquisitions for 31.6 GW compared to 207 projects for 52.1 GW in 9M 2022.
Through its U.S. subsidiary Eni New Energy US, ENI Plenitude <a href="https://cms.mercomindia.com/eni-plenitude-acquires-272-mw-us-solar-portfolio/" target="_blank" rel="noopener">signed</a> an agreement with EDP Renováveis, a renewable energy company, to acquire an 80% equity stake in a portfolio of operational solar projects in the U.S.

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