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

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

Trina Solar, a solar module manufacturer, and smart energy solutions provider <a href="https://cms.mercomindia.com/trina-solar-secures-235-million-loan-solar-pv-manufacturing-plant/" target="_blank" rel="noopener">secured</a> a $235 million non-recourse senior secured term green loan facility from Standard Chartered to support the development, construction, and operation of a 1.35 million square foot solar photovoltaic manufacturing plant in Wilmer, Texas. Standard Chartered served as the sole lead structuring bank and book-runner for the financing.
Powerdot, a provider of EV charging solutions, has <a href="https://cms.mercomindia.com/powerdot-secures-180-million-green-financing/" target="_blank" rel="noopener">secured</a> €165 million (~$180 million) in green financing from ABN Amro, BNP Paribas, ING, MUFG Bank, Santander, and Société Générale. The €165 million (~$180 million) green financing facility – with an additional €60 million (~$65.5 million) of the uncommitted accordion facility – will be used to expand Powerdot’s network of EV charging points to reach more than 3,100 locations by 2026, enhance the technology and user experience, and grow and develop its team.
Electric vehicle charger manufacturer Exicom Tele-systems <a href="https://www.mercomindia.com/exicom-to-acquire-australia-based-ev-charger-company-tritium" target="_blank" rel="noopener">announced</a> it is acquiring Tritium, an Australia-based manufacturer of DC fast chargers. Tritium has a presence in 47 countries. Exicom will gain access to Tritium’s manufacturing facility in Tennessee, U.S., and an engineering center in Brisbane, Australia. Tritium has sold over 13,000 DC fast chargers. It designs and manufactures proprietary hardware and software to create liquid-cooled DC fast chargers for electric vehicles.
Allego, an electric vehicle charging solutions provider, <a href="https://cms.mercomindia.com/ev-charging-provider-allego-secures-22-million-loan/" target="_blank" rel="noopener">secured</a> a €20 million (~$22 million) loan from the European Bank of Reconstruction and Development. This funding is a part of the CROSS-E project co-funded by the European Union. Allego plans to deploy over 200 light and heavy-duty vehicle (LDV /HDV) EV recharging points across over 50 strategic locations in Poland. The project in Poland is co-funded by the EU’s Connecting Europe Facility (CEF) program, supporting European transport infrastructure projects along the TEN-T Network and in Urban Nodes.
Electric vehicle battery manufacturing company Neuron Energy has <a href="https://www.mercomindia.com/ev-battery-manufacturer-neuron-energy-raises-%E2%82%B9200-million" target="_blank" rel="noopener">raised</a> ₹200 million (~$2.4 million) in a Series A funding from investors, including the Chona Family and Capri Global Family Office. The funds will be used to bolster Neuron’s research and development capabilities. This will include establishing an R&amp;D laboratory in Pune and a manufacturing facility in Delhi, India. The company aims to clock ₹1.5 – 2 billion (~$17.86 – 23.81 million) in revenue in the current fiscal year.
Wind turbine manufacturer Suzlon Energy has <a href="https://www.mercomindia.com/suzlon-acquires-majority-renom-energy-services" target="_blank" rel="noopener">announced</a> the acquisition of a 76% stake in Renom Energy Services, a multi-brand renewable energy operations and maintenance service company. The acquisition will be completed in two tranches, with Suzlon initially acquiring a 51% stake for ₹4 billion (~$47.6 million), followed by an additional 25% stake within 18 months for ₹2.6 billion (~$30.9 million).
SYSO, a market operations service provider dedicated to renewable and energy storage assets, has <a href="https://cms.mercomindia.com/syso-secures-14-5-million-in-series-b-funding/" target="_blank" rel="noopener">raised</a> $14.5 million in Series B funding led by Kimmeridge, an alternative asset manager specializing in the energy sector, with participation from existing SYSO investor Lacuna Sustainable Investments. The funding will be used to expand into new markets and improve its service for developers and independent power producers for the energy transition across the power sector.
Electric vehicle manufacturer Kinetic Green <a href="https://www.mercomindia.com/ev-manufacturer-kinetic-green-raises-25-million-from-gpc" target="_blank" rel="noopener">secured</a> a ₹2.09 billion (~$25 million) investment from private equity firm Greater Pacific Capital, as part of an overall targeted Series A fundraiser of up to $40 million. The company plans to use the funds to scale production at its manufacturing facility in India, market and distribute its current products, including the newly launched ELuna, and research and develop new products.
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-peak-energy-secures-55-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Trina Solar Secures $235 Million Loan

<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/2024/08/amazon_polly_69148.mp3?version=1723611571">
			</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-trina-solar-secures-235-million-loan/" target="_blank" rel="noopener">Mercom Capital Group</a>
Trina Solar, a solar module manufacturer, and smart energy solutions provider <a href="https://mercomcapital.com/trina-solar-secures-235-million-loan-solar-pv-manufacturing-plant/" target="_blank" rel="noopener">secured</a> a $235 million non-recourse senior secured term green loan facility from Standard Chartered to support the development, construction, and operation of a 1.35 million square foot solar photovoltaic manufacturing plant in Wilmer, Texas. Standard Chartered served as the sole lead structuring bank and book-runner for the financing.
Powerdot, a provider of EV charging solutions, has <a href="https://mercomcapital.com/powerdot-secures-180-million-green-financing/" target="_blank" rel="noopener">secured</a> €165 million (~$180 million) in green financing from ABN Amro, BNP Paribas, ING, MUFG Bank, Santander, and Société Générale. The €165 million (~$180 million) green financing facility – with an additional €60 million (~$65.5 million) of the uncommitted accordion facility – will be used to expand Powerdot’s network of EV charging points to reach more than 3,100 locations by 2026, enhance the technology and user experience, and grow and develop its team.
Electric vehicle charger manufacturer Exicom Tele-systems <a href="https://www.mercomindia.com/exicom-to-acquire-australia-based-ev-charger-company-tritium" target="_blank" rel="noopener">announced</a> it is acquiring Tritium, an Australia-based manufacturer of DC fast chargers. Tritium has a presence in 47 countries. Exicom will gain access to Tritium’s manufacturing facility in Tennessee, U.S., and an engineering center in Brisbane, Australia. Tritium has sold over 13,000 DC fast chargers. It designs and manufactures proprietary hardware and software to create liquid-cooled DC fast chargers for electric vehicles.
Allego, an electric vehicle charging solutions provider, <a href="https://mercomcapital.com/ev-charging-provider-allego-secures-22-million-loan/" target="_blank" rel="noopener">secured</a> a €20 million (~$22 million) loan from the European Bank of Reconstruction and Development. This funding is a part of the CROSS-E project co-funded by the European Union. Allego plans to deploy over 200 light and heavy-duty vehicle (LDV /HDV) EV recharging points across over 50 strategic locations in Poland. The project in Poland is co-funded by the EU’s Connecting Europe Facility program, supporting European transport infrastructure projects along the TEN-T Network and in Urban Nodes.
Electric vehicle battery manufacturing company Neuron Energy has <a href="https://www.mercomindia.com/ev-battery-manufacturer-neuron-energy-raises-%E2%82%B9200-million" target="_blank" rel="noopener">raised</a> ₹200 million (~$2.4 million) in a Series A funding from investors, including the Chona Family and Capri Global Family Office. The funds will be used to bolster Neuron’s research and development capabilities. This will include establishing an R&amp;D laboratory in Pune and a manufacturing facility in Delhi, India. The company aims to clock ₹1.5 – 2 billion (~$17.86 – 23.81 million) in revenue in the current fiscal year.
Wind turbine manufacturer Suzlon Energy has <a href="https://www.mercomindia.com/suzlon-acquires-majority-renom-energy-services" target="_blank" rel="noopener">announced</a> the acquisition of a 76% stake in Renom Energy Services, a multi-brand renewable energy operations and maintenance service company. The acquisition will be completed in two tranches, with Suzlon initially acquiring a 51% stake for ₹4 billion (~$47.6 million), followed by an additional 25% stake within 18 months for ₹2.6 billion (~$30.9 million).
SYSO, a market operations service provider dedicated to renewable and energy storage assets, has <a href="https://mercomcapital.com/syso-secures-14-5-million-in-series-b-funding/" target="_blank" rel="noopener">raised</a> $14.5 million in Series B funding led by Kimmeridge, an alternative asset manager specializing in the energy sector, with participation from existing SYSO investor Lacuna Sustainable Investments. The funding will be used to expand into new markets and improve its service for developers and independent power producers for the energy transition across the power sector.
Electric vehicle manufacturer Kinetic Green <a href="https://www.mercomindia.com/ev-manufacturer-kinetic-green-raises-25-million-from-gpc" target="_blank" rel="noopener">secured</a> a ₹2.09 billion (~$25 million) investment from private equity firm Greater Pacific Capital, as part of an overall targeted Series A fundraiser of up to $40 million. The company plans to use the funds to scale production at its manufacturing facility in India, market and distribute its current products, including the newly launched ELuna, and research and develop new products.
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-ugowork-raises-51-million-in-funding" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.sysotechnologies.com/" target="_blank" rel="noopener">SYSO</a>, a market operations service provider dedicated to renewable and energy storage assets, has raised $14.5 million in Series B funding led by Kimmeridge, an alternative asset manager specializing in the energy sector, with participation from existing SYSO investor Lacuna Sustainable Investments.
Founded in 2019, the company provides various services, including forecasting, power market access, asset operation, asset optimization, and virtual O&amp;M. It has partnered with asset managers, developers, integrators, and IPPs.
The funding will be used to expand into new markets and improve its service for developers and independent power producers for the energy transition across the power sector.
&#8220;We are thrilled to welcome Kimmeridge as a new lead investor and have the continued support of Lacuna Sustainable Investments,&#8221; said Chris Gosline, CEO of SYSO. &#8220;This investment is a strong endorsement of our vision and strategy. It will allow us to grow our GWs under management rapidly, scale our operations, enhance our product offerings, and drive significant value for our clients in the rapidly evolving power market.&#8221;
Pierce Atwood served as the legal counsel for SYSO in this transaction, while Kimmeridge was represented by Reitler Kailas &amp; Rosenblatt.
According to Mercom&#8217;s 1H and Q2 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-q2-2024-funding-ma-report-storage-grid/" target="_blank" rel="noopener">report</a> for Energy Storage and Smart Grid, VC funding for Smart Grid companies in 1H 2024 totaled $1.2 billion in 29 deals, 22% higher YoY compared to $986 million raised in 26 deals in 1H 2023.
Last month, Eneida, a smart grid solutions provider, <a href="https://cms.mercomindia.com/eneida-secures-11-4-million-in-series-b-funding/" target="_blank" rel="noopener">secured</a> €10.5 million (~$11.4 million) in a Series B funding round. The funding was provided by Junction Growth Investors (who also led the round) and Santander Alternative Investments. Existing investor Korys increased its stake, alongside participation from current investor HCapital and the company&#8217;s founders.

SYSO Secures $14.5 Million in Series B Funding

syso

Get the most relevant India solar and clean energy news.

RECENT POSTS