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


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/01/amazon_polly_74924.mp3?version=1735880309">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The Gujarat Electricity Regulatory Commission has <a href="https://www.mercomindia.com/gujarat-approves-ppa-9-mw-hybrid-power" target="_blank" rel="noopener">approved</a> the power purchase agreement between Jubilant Infrastructure, a wholly owned subsidiary of Jubilant Ingrevia, and O2 Renewable Energy III, a subsidiary of O2 Power, for procuring 9 MW of wind-solar hybrid power. The power will be purchased at a tariff of ₹4.13 (~$0.04)/kWh.</p>
<p>Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has <a href="https://www.mercomindia.com/uttar-pradesh-eoi-floating-solar-projects" target="_blank" rel="noopener">invited</a> Expressions of Interest to set up floating solar projects at 35 dams and reservoirs in Uttar Pradesh. Bids must be submitted by January 20, 2025. Bids will be opened on January 21. UPNEDA is the nodal implementing agency under Uttar Pradesh Solar Energy Policy 2022, which aims to add 22,000 MW of solar energy by 2027. Of this, 14,000 MW is targeted for large-scale solar power projects.</p>
<p>Government-owned lender Indian Renewable Energy Development Agency <a href="https://www.mercomindia.com/ireda-reports-robust-growth-and-disbursements-for-2024" target="_blank" rel="noopener">reported</a> an increase in loan approvals and disbursements for the year ending December 31, 2024. Loan approvals surged to ₹310.87 billion (~$3.6 billion) as of December 31, 2024, compared to ₹135.58 billion (~$1.58 billion) in the corresponding period of 2023, marking a 129% increase. Loan disbursements grew by 41%, reaching ₹172.36 billion (~$2 billion) in 2024, up from ₹122.20 billion (~$1.42 billion) in 2023.</p>
<p>Sunairio, a weather intelligence platform developer for renewable energy prediction, <a href="https://www.mercomindia.com/funding-and-ma-roundup-sunairio-raises-6-4-million" target="_blank" rel="noopener">announced</a> the closing of an oversubscribed $6.4 million funding round. This closing brings the total funding raised by the company to date to $8.8 million. The funding round was led by Buoyant Ventures, Constellation Technology Ventures, and MassMutual Ventures’ Climate Tech Fund, with additional participation from Rosecliff Ventures and existing investors.</p>
<p>Enlight Renewable Energy, a renewable energy project developer, <a href="https://www.mercomindia.com/project-finance-brief-enlight-secures-financing-project" target="_blank" rel="noopener">announced</a> the closing of $550 million debt financing for the project Roadrunner, located in the Sulphur Springs Valley region near Tuscon, Arizona. The project, also known as Apache Solar II, consists of 200 MW of solar and 940 MWh of energy storage capacity. The construction at the project site has already begun, and the project is expected to reach commercial operation by the end of 2025.</p>
<p>Electric vehicle (EV) sales in India <a href="https://www.mercomindia.com/electric-vehicle-sales-2024" target="_blank" rel="noopener">reached</a> a record 1.95 million units in 2024, an over 27% growth year-over-year against the 1.53 million units sold in 2023. EVs accounted for 3.6% of overall automobile sales, according to data released by the Ministry of Road Transport and Highways through its Vahan Dashboard. The EV market consistently surpassed the 100,000-unit mark every month, with October registering the highest sales at 219,527 units, followed by March with 213,068 units and November with 192,681 units.</p>
<p>The Power Grid Corporation of India has <a href="https://www.mercomindia.com/powergrid-forms-joint-venture-to-augment-rajasthans-transmission-network" target="_blank" rel="noopener">established</a> a joint venture with Rajasthan Rajya Vidyut Prasaran Nigam to develop Rajasthan’s intrastate transmission system. The joint venture, Rajasthan Power Grid Transmission Company, aims to address the state’s growing energy needs and ensure a more reliable and robust electricity distribution network.</p>


Daily News Wrap-Up: GERC Approves PPA for Procuring 9 MW Hybrid Power

<p><strong>Sunairio, a weather intelligence platform developer for renewable energy prediction, <a href="https://cms.mercomindia.com/sunairio-raises-6-4-million-in-an-oversubscribed-funding-round/" target="_blank" rel="noopener">announced</a> the </strong>closing<strong> of an oversubscribed $6.4 million funding round.</strong> This closing brings the total funding raised by the company to date to $8.8 million. The funding round was led by Buoyant Ventures, Constellation Technology Ventures, and MassMutual Ventures’ Climate Tech Fund, with additional participation from Rosecliff Ventures and existing investors.</p>
<p><strong>JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, has </strong><a href="https://www.mercomindia.com/jsw-neo-acquire-o2-power-125-billion" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into a definitive agreement to acquire a 4,696 MW renewable energy platform from O2 Power Pooling.</strong> After adjustments for net current assets, the platform’s enterprise valuation is approximately ₹124.68 billion (~$1.46 billion). The acquisition includes O2 Power Midco Holdings and O2 Energy SG. The transaction is subject to approval by the Competition Commission of India and other customary regulatory clearances typical for transactions of this scale.</p>
<p><strong>Automobile manufacturer Mahindra &amp; Mahindra has </strong><a href="https://www.mercomindia.com/bii-invest-mahindra-mahindra" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that the final tranche of investment by British International Investment (BII)</strong> in its subsidiary Mahindra Electric Automobile has been revised from ₹7.25 billion (~$84.74 million) to ₹6.5 billion (~$75.98 billion). The final tranche is expected to be completed by March 31, 2025. This revision brings BII’s total investment in Mahindra Electric Automobile to ₹18.5 billion (~$216.28 billion), resulting in a 2.64% to 4.58% shareholding on a fully diluted basis. Mahindra confirmed that this change will not affect Mahindra Electric Automobile’s overall business plan.</p>
<p><strong>Enercity, a German energy supplier, has <a href="https://cms.mercomindia.com/enercity-acquires-hanwha-q-cells-solar-portfolio-and-other-assets/" target="_blank" rel="noopener">acquired</a> key business areas along with a solar portfolio from Hanwha Qcells, a manufacturer of solar cells, modules, and energy storage systems. </strong>The company is also selling its shares in LYNQTECH, a cloud platform that streamlines and integrates sales-related processes for energy supply companies. Enercity Digital, a wholly owned subsidiary of Enercity and previously holding approximately 35% of LYNQTECH, will become the sole owner.</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://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-ev-charging-platform-jet-charge-receives-45-million/" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Sunairio Raises $6.4 Million in Funding


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/01/amazon_polly_74883.mp3?version=1735793585">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-sunairio-raises-6-4-million-in-funding/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Sunairio, a weather intelligence platform developer for renewable energy prediction, <a href="https://mercomcapital.com/sunairio-raises-6-4-million-in-an-oversubscribed-funding-round/" target="_blank" rel="noopener">announced</a> the </strong>closing<strong> of an oversubscribed $6.4 million funding round.</strong> This closing brings the total funding raised by the company to date to $8.8 million. The funding round was led by Buoyant Ventures, Constellation Technology Ventures, and MassMutual Ventures’ Climate Tech Fund, with additional participation from Rosecliff Ventures and existing investors.</p>
<p><strong>JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, has </strong><a href="https://www.mercomindia.com/jsw-neo-acquire-o2-power-125-billion" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into a definitive agreement to acquire a 4,696 MW renewable energy platform from O2 Power Pooling.</strong> After adjustments for net current assets, the platform’s enterprise valuation is approximately ₹124.68 billion (~$1.46 billion). The acquisition includes O2 Power Midco Holdings and O2 Energy SG. The transaction is subject to approval by the Competition Commission of India and other customary regulatory clearances typical for transactions of this scale.</p>
<p><strong>Automobile manufacturer Mahindra &amp; Mahindra has </strong><a href="https://www.mercomindia.com/bii-invest-mahindra-mahindra" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that the final tranche of investment by British International Investment (BII)</strong> in its subsidiary Mahindra Electric Automobile has been revised from ₹7.25 billion (~$84.74 million) to ₹6.5 billion (~$75.98 billion). The final tranche is expected to be completed by March 31, 2025. This revision brings BII’s total investment in Mahindra Electric Automobile to ₹18.5 billion (~$216.28 billion), resulting in a 2.64% to 4.58% shareholding on a fully diluted basis. Mahindra confirmed that this change will not affect Mahindra Electric Automobile’s overall business plan.</p>
<p><strong>Enercity, a German energy supplier, has <a href="https://mercomcapital.com/enercity-acquires-hanwha-q-cells-solar-portfolio-and-other-assets/" target="_blank" rel="noopener">acquired</a> key business areas along with a solar portfolio from Hanwha Qcells, a manufacturer of solar cells, modules, and energy storage systems. </strong>The company is also selling its shares in LYNQTECH, a cloud platform that streamlines and integrates sales-related processes for energy supply companies. Enercity Digital, a wholly owned subsidiary of Enercity and previously holding approximately 35% of LYNQTECH, will become the sole owner.</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 funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-jet-charge-receives-45-million" target="_blank" rel="noopener">roundup</a>.</p>


<p><a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4327234-1&amp;h=1936443667&amp;u=https%3A%2F%2Fsunairio.com%2F&amp;a=Sunairio" target="_blank" rel="noopener">Sunairio</a>, a developer of a weather intelligence platform for renewable energy prediction, announced the closing of an oversubscribed $6.4 million funding round. This brings the total funding raised by the company to date to $8.8 million.</p>
<p>The funding round was led by Buoyant Ventures, alongside Constellation Technology Ventures and MassMutual Ventures&#8217; Climate Tech Fund, with additional participation from Rosecliff Ventures along with existing investors.</p>
<p>This startup company provides software platform for high-resolution climate data as well as future climate simulation for energy investment, planning, and portfolio management. It helps utility-scale asset developers, energy traders, and reliability organization for taking commercial decisions in the face of increasing grid variability and unprecedented weather.</p>
<p>The funding is expected to enable the company to significantly expand its market coverage and build its team.</p>
<p>&#8220;We&#8217;re looking forward to offering Sunairio insights for every wind farm, solar farm, demand center, utility grid, and power market in North America, which will pave the way for higher investor returns and greater reliability,&#8221; said Sunairio Founder and CEO Rob Cirincione.</p>
<p>In November, the company <a href="https://www.prweb.com/releases/xcel-energy-testing-sunairio-technology-in-grid-reliability-pilot-program-to-predict-power-system-variability-302300904.html" target="_blank" rel="noopener">announced</a> a pilot program with Xcel Energy-Colorado to simulate the electric grid, aiming to improve the accuracy and increase the granularity of weather data used in grid planning of Public Service Company of Colorado (PSCo).</p>
<p>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, VC funding across all Smart Grid companies in 9M 2024 totaled $1.4 billion in 43 deals, 13% higher year-over-year than the $1.2 billion raised in 37 deals in 9M 2023.</p>
<p>In October, eSmart Systems, an inspection and asset information management solutions provider for utilities, <a href="https://cms.mercomindia.com/esmart-systems-raises-32-million-funding/" target="_blank" rel="noopener">raised</a> €30 million (~$32 million) in new capital funding, bringing its total to €63 million (~$65 million) raised in the past two years. The funding round was led by TiLT Capital Partners, a French growth capital impact fund, along with Quanta Services, which joined as a strategic investor.</p>


sunairio

Get the most relevant India solar and clean energy news.

RECENT POSTS