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

Ekoenergetyka, a manufacturer of EV chargers, has <a href="https://cms.mercomindia.com/ev-charger-maker-ekoenergetyka-secures-170-million-loan/" target="_blank" rel="noopener">secured</a> a loan of PLN 691 million (~$170 million) from Bank Pekao, which is the leader and agent of the consortium. The funding will provide the company with the opportunity for further development both in the area of international expansion across Europe and in the area of planned ambitious investments. Upon meeting certain conditions, the loan amount can also be increased up to PLN741 million (~$183 million).
Swift Solar, a company that designs and manufactures Perovskite-based photovoltaic cells, <a href="https://cms.mercomindia.com/swift-solar-raises-27-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> $27 million in a Series A funding round co-led by Eni Next, Eni’s corporate venture capital arm, and Fontinalis Partners, a mobility and deep tech VC firm that invests in startup companies. With this funding round, the company has raised a total of $44 million.
Gorilla, a clean energy provider of data-driven solutions, has <a href="https://www.gorilla.co/en" target="_blank" rel="noopener">closed</a> €23 million (~$25 million) in a Series B funding round led by global venture capital firm Headline, with existing investors including Beringea and the Flemish investment company PMV. Gorilla offers solutions for utility companies to help maximize efficiency, understand energy portfolios influenced by distributed energy resources such as solar panels, wind turbines, and battery storage, ensure operational stability, and develop pricing strategies based on individual usage patterns.
UNIGRID, a provider of sodium-based battery solutions, <a href="https://cms.mercomindia.com/sodium-ion-battery-startup-unigrid-secures-12-million/" target="_blank" rel="noopener">raised</a> $12 million in an oversubscribed Series A funding round. The round was co-led by Transition VC and Ritz Venture Capital and joined by new investor Union Square Ventures. Existing investor Foothill Ventures also participated in this round. The company stated that this investment would accelerate and scale up its battery production to a megawatt-scale to satisfy the customer demand for electric mobility and stationary storage markets.
Samara, a provider of solar and energy storage solutions for households, <a href="https://cms.mercomindia.com/solar-energy-startup-samara-closes-10-million-series-a-funding/" target="_blank" rel="noopener">secured</a> a €9 million (~$10 million) in Series A funding round. With this funding, the company plans to expand its services, develop new products, and reach larger market segments with its financing solutions. This round was led by Green Generation Fund and Move Energy, accompanied by impact funds Ring Capital and Athletico Ventures.
Princeton NuEnergy, a provider of battery recycling solutions, <a href="https://cms.mercomindia.com/princeton-nuenergy-closed-oversubscribed-funding/" target="_blank" rel="noopener">closed</a> $30 million in an oversubscribed Series A funding round with a strategic investment from Samsung Venture Investment Corporation, Samsung&#8217;s corporate venture arm, investing in breakthrough technologies across industries and from Helium-3 Ventures. The funding brings the total amount raised by the company to over $55 million, including multiple U.S. Department of Energy grants totaling $18 million and a $7.9 million seed and angel rounds.
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-vulcan-energy-resources-secures/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: EV Charger Manufacturer Ekoenergetyka Secures $170 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/2024/06/amazon_polly_67257.mp3?version=1718772563">
			</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-ev-charger-manufacturer-ekoenergetyka-secures-170-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Ekoenergetyka, a manufacturer of EV chargers, has <a href="https://mercomcapital.com/ev-charger-maker-ekoenergetyka-secures-170-million-loan/" target="_blank" rel="noopener">secured</a> a loan of PLN 691 million (~$170 million) from Bank Pekao, which is the leader and agent of the consortium. The funding will provide the company with the opportunity for further development both in the area of international expansion across Europe and in the area of planned ambitious investments. Upon meeting certain conditions, the loan amount can also be increased up to PLN741 million (~$183 million).
Swift Solar, a company that designs and manufactures Perovskite-based photovoltaic cells, <a href="https://mercomcapital.com/swift-solar-raises-27-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> $27 million in a Series A funding round co-led by Eni Next, Eni’s corporate venture capital arm, and Fontinalis Partners, a mobility and deep tech VC firm that invests in startup companies. With this funding round, the company has raised a total of $44 million.
Gorilla, a clean energy provider of data-driven solutions, has <a href="https://mercomcapital.com/energy-data-startup-gorilla-raises-25-million-in-series-b-funding/" target="_blank" rel="noopener">closed</a> €23 million (~$25 million) in a Series B funding round led by global venture capital firm Headline, with existing investors including Beringea and the Flemish investment company PMV. Gorilla offers solutions for utility companies to help maximize efficiency, understand energy portfolios influenced by distributed energy resources such as solar panels, wind turbines, and battery storage, ensure operational stability, and develop pricing strategies based on individual usage patterns.
UNIGRID, a provider of sodium-based battery solutions, <a href="https://mercomcapital.com/sodium-ion-battery-startup-unigrid-secures-12-million/" target="_blank" rel="noopener">raised</a> $12 million in an oversubscribed Series A funding round. The round was co-led by Transition VC and Ritz Venture Capital and joined by new investor Union Square Ventures. Existing investor Foothill Ventures also participated in this round. The company stated that this investment would accelerate and scale up its battery production to a megawatt-scale to satisfy the customer demand for electric mobility and stationary storage markets.
Samara, a provider of solar and energy storage solutions for households, <a href="https://mercomcapital.com/solar-energy-startup-samara-closes-10-million-series-a-funding/" target="_blank" rel="noopener">secured</a> a €9 million (~$10 million) in Series A funding round. With this funding, the company plans to expand its services, develop new products, and reach larger market segments with its financing solutions. This round was led by Green Generation Fund and Move Energy, accompanied by impact funds Ring Capital and Athletico Ventures.
Princeton NuEnergy, a provider of battery recycling solutions, <a href="https://mercomcapital.com/princeton-nuenergy-closed-oversubscribed-funding/" target="_blank" rel="noopener">closed</a> $30 million in an oversubscribed Series A funding round with a strategic investment from Samsung Venture Investment Corporation, Samsung&#8217;s corporate venture arm, investing in breakthrough technologies across industries and from Helium-3 Ventures. The funding brings the total amount raised by the company to over $55 million, including multiple U.S. Department of Energy grants totaling $18 million and a $7.9 million seed and angel rounds.
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-vulcan-secures-44-millionhttps:/www.mercomindia.com/funding-and-ma-roundup-vulcan-secures-44-millionhttps:/www.mercomindia.com/funding-and-ma-roundup-vulcan-secures-44-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.unigridbattery.com/" target="_blank" rel="noopener">UNIGRID,</a> a provider of sodium-based battery solutions, raised $12 million in an oversubscribed Series A funding round. The round was Co-led by Transition VC and Ritz Venture Capital and joined by new investor Union Square Ventures. Existing investor Foothill Ventures also participated in this round.
The company stated that this investment would accelerate and scale up its battery production to megawatt scale to satisfy the customer demand for electric mobility and stationary storage markets.
&#8220;Advanced sodium-ion batteries will be a key enabler of widespread, distributed energy storage in the residential, commercial, and industrial markets. As a technology leader in this space, UNIGRID already has commercial-scale orders and will use the funds to expand manufacturing and customer fulfillment capabilities,&#8221; said Darren H. S. Tan, CEO of UNIGRID Battery.
Critical materials such as lithium, cobalt, and nickel are not geologically abundant, and their extraction involves many processes that create environmental and social issues. Instead, the company plans to use abundantly available materials like sodium in its batteries, which are more environmentally sustainable.
Sodium-ion batteries typically face a critical bottleneck: lower energy density compared to conventional Lithium-ion batteries. To address this, UNIGRID is developing high energy-density sodium-ion batteries using its proprietary alloy anode technology. The company claims that this new battery chemistry doubles the volumetric energy density of standard sodium-ion batteries and surpasses the energy density of lithium iron phosphate (LFP) batteries.
The company also highlights that its technology is drop-in compatibility with conventional Li-ion battery manufacturing infrastructure, along with off-the-shelf availability of materials in the existing supply chain.
According to Mercom&#8217;s Q1 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2024-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report</a> for Storage &amp; Smart Grid, VC funding for Energy Storage companies increased by 9% YoY, with $1.2 billion in 23 deals in Q1 2024 compared to $1.1 billion raised in 19 deals in Q1 2023.
Recently, Bedrock Materials, a startup that designs and develops sodium-ion cathode materials, <a href="https://cms.mercomindia.com/battery-material-startup-bedrock-secures-in-seed-funding/" target="_blank" rel="noopener">secured</a> $9 million in seed funding. The round was led by Trucks Venture Capital, Refactor Capital, and Version One Ventures. Beginning in 2025, Peak Energy will start deploying its sodium-ion systems while building a domestic, giga-scale battery factory with plans to open in 2026.

Sodium-ion Battery Startup UNIGRID Secures $12 Million

unigrid

Get the most relevant India solar and clean energy news.

RECENT POSTS