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

Spearmint Energy, a utility-scale battery storage project developer, <a href="https://mercomcapital.com/spearmint-energy-secures-250-million-financing-battery-storage-projects/" target="_blank" rel="noopener">secured</a> more than $250 million in financing for the construction and development of two 100 MW/200 MWh Tierra Seca and Seven Flags battery energy storage projects located in Del Rio and Laredo, respectively, within the Texas ERCOT power market. The financing package includes $59 million in construction-to-term loan facilities, $95 million in tax equity bridge loan facilities, and $98 million in tax equity commitments.
True Green Capital Management, a renewable energy infrastructure investment firm, has announced the <a href="https://mercomcapital.com/true-green-capital-management-acquires-64-mw-of-solar-projects/" target="_blank" rel="noopener">acquisition</a> of 64 MW of operational solar projects from Ecofin US Renewables Infrastructure Trust PLC through its fourth fund. The assets consist of 62 geographically diversified projects located across seven states and four markets. The states include New Jersey, California, Massachusetts, Minnesota, Virginia, and Delaware, while the power markets include PJM, CAISO, ISO-NE, and MISO.
Enlight, a renewable energy project developer, has <a href="https://mercomcapital.com/enlight-secures-243-million-in-funding-for-quail-ranch-project/" target="_blank" rel="noopener">secured</a> $243 million in financing for its Quail Ranch project near Albuquerque, New Mexico. The funding was arranged through its U.S. subsidiary, Clenera Holdings. The project consists of 128 MW solar, along with a 400 MWh battery storage project. It is expected to reach commercial operation by the end of 2025. Offtake for both generation and storage volumes is secured by a 20-year busbar PPA with the Public Service Company of New Mexico.
Catalyze, a project developer and independent power producer of distributed renewable energy assets, <a href="https://mercomcapital.com/catalyze-secures-financing-distributed-energy-portfolio/" target="_blank" rel="noopener">secured</a> $85 million in tax equity investment from RBC Community Investments (RBC). The financing will be used to construct and complete approximately 75 MW of commercial, industrial, and community solar projects across the U.S. in 2025. The company’s distributed generation portfolio now totals 300 MW of projects in operations and construction.
Palladium Energy, a renewable energy project developer, <a href="https://mercomcapital.com/exus-acquires-solar-plus-storage-project-portfolio/" target="_blank" rel="noopener">announced</a> the sale of a 364 MW solar plus 280 MWh storage portfolio to Exus Renewables North America (Exus) through its joint venture with Arava Power, a utility-scale renewable energy project developer.
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&#8217;s project finance <a href="https://mercomcapital.com/project-finance-brief-octopus-financing-solar-storage/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Spearmint Energy Secures $250 Million for BESS Projects

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-spearmint-energy-bess-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
Spearmint Energy, a utility-scale battery storage project developer, <a href="https://mercomcapital.com/spearmint-energy-secures-250-million-financing-battery-storage-projects/" target="_blank" rel="noopener">secured</a> more than $250 million in financing for the construction and development of two 100 MW/200 MWh Tierra Seca and Seven Flags battery energy storage projects located in Del Rio and Laredo, respectively, within the Texas ERCOT power market. The financing package includes $59 million in construction-to-term loan facilities, $95 million in tax equity bridge loan facilities, and $98 million in tax equity commitments.
True Green Capital Management, a renewable energy infrastructure investment firm, has announced the <a href="https://mercomcapital.com/true-green-capital-management-acquires-64-mw-of-solar-projects/" target="_blank" rel="noopener">acquisition</a> of 64 MW of operational solar projects from Ecofin US Renewables Infrastructure Trust PLC through its fourth fund. The assets consist of 62 geographically diversified projects located across seven states and four markets. The states include New Jersey, California, Massachusetts, Minnesota, Virginia, and Delaware, while the power markets include PJM, CAISO, ISO-NE, and MISO.
Enlight, a renewable energy project developer, has <a href="https://mercomcapital.com/enlight-secures-243-million-in-funding-for-quail-ranch-project/" target="_blank" rel="noopener">secured</a> $243 million in financing for its Quail Ranch project near Albuquerque, New Mexico. The funding was arranged through its U.S. subsidiary, Clenera Holdings. The project consists of 128 MW solar, along with a 400 MWh battery storage project. It is expected to reach commercial operation by the end of 2025. Offtake for both generation and storage volumes is secured by a 20-year busbar PPA with the Public Service Company of New Mexico.
Catalyze, a project developer and independent power producer of distributed renewable energy assets, <a href="https://mercomcapital.com/catalyze-secures-financing-distributed-energy-portfolio/" target="_blank" rel="noopener">secured</a> $85 million in tax equity investment from RBC Community Investments (RBC). The financing will be used to construct and complete approximately 75 MW of commercial, industrial, and community solar projects across the U.S. in 2025. The company’s distributed generation portfolio now totals 300 MW of projects in operations and construction.
Palladium Energy, a renewable energy project developer, <a href="https://mercomcapital.com/exus-acquires-solar-plus-storage-project-portfolio/" target="_blank" rel="noopener">announced</a> the sale of a 364 MW solar plus 280 MWh storage portfolio to Exus Renewables North America (Exus) through its joint venture with Arava Power, a utility-scale renewable energy project developer.
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-octopus-financing-solar-storage/" target="_blank" rel="noopener">brief</a>.

<a href="https://truegreencapital.com/" target="_blank" rel="noopener">True Green Capital Management</a>, a renewable energy infrastructure investment firm, has announced the acquisition of 64 MW of operational solar projects from Ecofin US Renewables Infrastructure Trust PLC through its fourth fund.
The assets consist of 62 geographically diversified projects located across seven states and four markets. The states include New Jersey, California, Massachusetts, Minnesota, Virginia, and Delaware, while the power markets include PJM, CAISO, ISO-NE, and MISO. The projects will also benefit from long-term PPAs as well as various renewable energy credits.
&#8220;These projects are substantially similar to the distributed assets in our prior TGC funds which were acquired then optimized into an institutional-caliber portfolio. Our in-house technical capabilities, track record and familiarity with these types of projects places TGC in a strong position with respect to value creation,&#8221; said Bo Wiegand, Partner and Co-Founder of TGC.
True Green Capital Management is a specialized renewable energy infrastructure fund manager with a focus on distributed power generation in the U.S. and Europe.
&#8220;This acquisition increases TGC&#8217;s current distributed solar operating portfolio to over 600 megawatts. With this transaction we demonstrated our Firm&#8217;s capabilities to take operating assets private. We look forward to supplementing these assets with future operating portfolio acquisitions,&#8221; said Panos Ninios, Managing Partner and Co-Founder of TGC.
A&amp;O Shearman served as legal counsel to True Green Capital Management.
According to Mercom&#8217;s recently <a href="https://cms.mercomindia.com/product/q1-2025-solar-funding-ma-report/" target="_blank" rel="noopener">released</a> Q1 2025 Solar Funding and M&amp;A report, about 13.6 GW of solar projects were acquired in Q1 2025 compared to 10.8 GW in Q1 2024.
This week, JUWI Energie Rinnovabili, the Italian subsidiary of international project developer JUWI Group, <a href="https://cms.mercomindia.com/juwi-energie-rinnovabili-sells-50-5-mw-solar-project-portfolio/" target="_blank" rel="noopener">announced</a> the sale of a 50.5 MW solar project portfolio to Kelag Italia, a subsidiary of Kelag Group, an Austrian renewable energy provider. The portfolio comprises eight authorized and ready-to-build solar projects located in Northern Italy. The company did not disclose the financial details of the transaction.

True Green Capital Management Acquires 64 MW of Solar Projects

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