AI-Integrated Manufacturing Will Boost Quality and Reliability of Solar Products

India’s Renewable Energy Space is Mainstream Now for Lenders

Daily News Wrap-Up: Madhya Pradesh Invites Bids for 100 MW Solar Project

MNRE Revises Enlistment Norms for Wind Turbine Components

MNRE Releases ALMM List-II for Solar Cells with a Capacity of 13 GW

CESC Floats 40 MW/80 MWh Standalone BESS Tender in West Bengal

C&I Sector Finds Energy Storage More Favorable than Energy Banking

NTPC Green Floats O&M Tender for 250 MW Solar Project in Rajasthan

NTPC Green, Opera, Tata Win NHPC’s 500 MWh Standalone BESS Auction

Nextracker Acquires Robotics and AI Technologies to Expand Solar Platform

<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/2025/07/amazon_polly_82259.mp3?version=1753249422">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-giga-green-secures-35-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
GIGA.GREEN, a commercial solar energy solutions provider, has <a href="https://mercomcapital.com/giga-green-secures-35-million-revolving-capex-facility/" target="_blank" rel="noopener">closed</a> a €30 million (~$35 million) revolving capital expenditure facility. The funding was provided by Kommunalkredit Austria, a European specialist bank based in Vienna, which focuses on financing infrastructure projects in the energy, environmental, social, transport, and communications sectors. According to the company, this funding will be used to expand its nationwide project portfolio, focusing on industrial rooftop solar systems in Germany.
Ionic Mineral Technologies, an advanced battery materials producer, has announced the <a href="https://mercomcapital.com/ionic-mineral-technologies-closes-29-million-series-b-funding/" target="_blank" rel="noopener">closing</a> of a $29 million Series B funding. The oversubscribed funding round, which exceeded its initial $25 million target, saw participation from undisclosed investors. The funding will be used to expand the company’s 74,000-square-foot facility in Provo, Utah, accelerating the production of nano-silicon anode material to 1,000 metric tons annually.
Sunsave, a U.K.-based solar subscription service provider, has <a href="https://mercomcapital.com/solar-subscription-service-firm-sunsave-secures-151-million/" target="_blank" rel="noopener">secured</a> £113 million (~$151 million) in an oversubscribed funding round. The funding includes a £100 million (~$134 million) debt facility from Crédit Agricole CIB as well as £13 million (~$17 million) in Series A equity from a co-led round by Norrsken VC and IPGL. The funding will help the company to expand its solar subscription program across England and Wales.
Switzerland-headquartered solar solutions provider Candi Solar has <a href="https://www.mercomindia.com/candi-solar-raises-24-million-from-norfund-stoa-and-eegf" target="_blank" rel="noopener">raised</a> $24 million (~₹2.06 billion) from Norfund, STOA, and the Energy Entrepreneurs Growth Fund (EEGF) to fund new solar power projects in India and South Africa. This fundraising includes a $20 million (~₹1.7 billion) convertible loan from Norfund and STOA, as well as a $4 million (~₹344.59 million) top-up to its existing mezzanine facility with the EEGF. After this round, the company’s total capital raised has grown to over $140 million (~₹12.06 billion).
Surat-based private equity and venture investment firm Parishi Capital has <a href="https://www.mercomindia.com/parishi-invests-%E2%82%B94-7-million-in-navitas-for-2-5-gw-solar-module-plant" target="_blank" rel="noopener">invested</a> $4.7 million (~₹404.8 million) in Navitas Solar to expand its solar module manufacturing plant in Ahmedabad, Gujarat, India, to a 2.5 GW capacity. The transaction was completed in two tranches, with the first tranche of funding raised in 2023. Navitas, which had a manufacturing capacity of 1.7 GW earlier, plans to raise funds from Parishi via a third round to establish a 3 GW solar cell manufacturing plant by 2026.
The International Finance Corporation (IFC) has <a href="https://www.mercomindia.com/ifc-to-invest-20-million-in-ev-platform-transvolt-mobility" target="_blank" rel="noopener">announced</a> a $20 million equity investment in India-based electric vehicle (EV) platform Transvolt Mobility as part of a $50 million financing round. IFC said the investment will help enhance access to quality urban transport, scale up EV production, and strengthen India’s electric mobility ecosystem. This equity investment is IFC’s first in an EV platform.
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-ess-tech-raises-31-million" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: GIGA.GREEN Secures $35 Million

<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/2023/12/amazon_polly_61235.mp3?version=1702442738">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-solar-subscriptions-firm-sunsave/" target="_blank" rel="noopener">Mercom Capital Group</a>
Sunsave, a UK-based solar subscription service provider, has <a href="https://mercomcapital.com/solar-subscription-service-firm-sunsave-raises/" target="_blank" rel="noopener">raised</a> £5.4 million (~$6.79 million) in funding to support the launch of Sunsave Plus, a service that will allow homeowners to get a solar and battery system on a subscription without paying a one-off lump sum. The funding round was led by Norrsken, a European-based impact venture capital fund.
Sienna Bidco, wholly owned by funds advised by KKR, has agreed to <a href="https://mercomcapital.com/kkrs-sienna-bidco-acquire-smart-metering-systems/" target="_blank" rel="noopener">acquire</a> UK-based Smart Metering Systems (SMS), a smart energy infrastructure and services provider, in a deal that values the company at £1.3 billion (~$1.63 billion). The deal will see KKR take SMS private and delist it from the London Stock Exchange, where it has been trading since 2011. KKR will pay £0.955 (~$1.21) per share in cash, a 40.4% premium to SMS’s closing price on Wednesday.
UP Catalyst, a producer of sustainable carbon nanomaterials and graphite, <a href="https://mercomcapital.com/up-catalyst-secures-4-3-million-in-seed-funding/" target="_blank" rel="noopener">closed</a> a €4 million (~$4.31 million) seed investment round led by Berlin-based climate tech VC fund Extantia and supported by Estonia’s state fund SmartCap, along with existing investors Sunly, Little Green Fund, Scottish Baltic Invest, and UniTartu Ventures. The investment will be used to expand the company’s production capabilities.
Graphite India, a graphite electrode manufacturer, has <a href="https://www.mercomindia.com/graphite-india-forays-battery-investment-in-godi" target="_blank" rel="noopener">entered</a> into a definitive transaction to invest ₹500 million (~$6 million) in compulsory convertible preference shares of GODI India, a battery technology company. GODI India, backed by Blue Ashva Capital, specializes in advanced chemistry research and development to support the manufacturing of sustainable batteries for electric vehicles (EVs) and supercapacitor-based energy storage systems.
Uniqus Consultech has <a href="https://www.mercomindia.com/uniqus-acquires-its-esg-practice" target="_blank" rel="noopener">acquired</a> Goodera’s global business that helps corporates manage their sustainability programs by automating the collection, maintenance, and approval of their ESG data. Uniqus, based in the U.S., India, and the Middle East, is a tech-enabled platform offering ESG accounting and reporting consulting. The acquisition, part of Uniqus’ strategy to integrate technology to address client needs, will strengthen its ESG practice and serve the $10 billion ESG market.
ACEN Renewables, a subsidiary of ACEN CORPORATION based in Singapore, <a href="https://www.acenrenewables.com/2023/12/acen-acri-secures-first-100-million-dollars-green-term-loan-facility-mufg/" target="_blank" rel="noopener">signed</a> a $100 million green term loan facility from MUFG Bank, part of global financial institution Mitsubishi UFJ Financial Group (MUFG). This investment will be directed toward the growth and development of ACEN’s renewable energy projects. MUFG acted as the sole arranger and green loan coordinator for this term loan, which operates under a five-year term.
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/">here</a>.
Read last week&#8217;s funding <a href="https://mercomindia.com/funding-and-ma-roundup-energyre-raises-1-2-billion" target="_blank" rel="noopener">roundup</a>

Funding and M&A Roundup: Solar Subscriptions Firm Sunsave Raises $6.8 Million

sunsave

Get the most relevant India solar and clean energy news.

RECENT POSTS