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

Sunsave, a UK-based solar subscription service provider, has <a href="https://cms.mercomindia.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://cms.mercomindia.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://cms.mercomindia.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://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-ma-roundup-energyre-raises-renewable-expansion/" target="_blank" rel="noopener">roundup</a>.

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

<a href="https://upcatalyst.com/" target="_blank" rel="noopener">UP Catalyst</a>, a producer of sustainable carbon nanomaterials and graphite, closed 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. UP Catalyst said it will build an industrial pilot reactor capable of processing 100 tons of CO2 annually and producing 27 tons of carbon materials and graphite, which are critical components of an electric vehicle battery. The reactor is expected to have a production capacity ten times larger than the current setup.
“We are thrilled to have secured this funding, bringing us one step closer to empowering 4 million car batteries with graphite sourced from CO2 emissions by 2030. This carbon supply can cover approximately 20% of the EV battery market’s yearly carbon need in Europe.” Said Gary Urb, CEO of UP Catalyst.
“UP Catalyst is redefining the conventional approach to graphite production by turning away from environmentally detrimental fossil fuel methods. We perceive China’s export restrictions not as a barrier but as a catalyst for European green innovation,” said Yair Reem, Partner at Extantia.
According to Mercom’s 9M And Q3 2023 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report </a>for Storage &amp; Smart Grid, VC funding in Energy Storage in the first nine months (9M) 2023 was up by 115% YoY with $8.6 billion in 68 deals compared to $4 billion in 74 deals in 9M 2022.
AM Batteries, a lithium-ion dry-electrode technologies developing company, recently <a href="https://cms.mercomindia.com/am-batteries-raises-series-b-funding/" target="_blank" rel="noopener">closed</a> a $30 million Series B in an oversubscribed funding round led by Toyota Ventures. The company has stated that it has raised over $60 million to date, and its recent funding round will help the company develop and drive the commercialization of dry powder coating technology and equipment for low-cost lithium-ion battery manufacturing.

UP Catalyst Secures $4.3 Million in Seed Funding

up-catalyst

Get the most relevant India solar and clean energy news.

RECENT POSTS