Mercom Research Focus
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Open Access Solar Growth Slows in Maharashtra and Tamil Nadu

India’s solar open access market recorded 55% quarter-over-quarter growth in Q1 2026, adding 2.7 GW, supported by favorable regulatory developments, proactive state-level policies, growing consumer awareness, and improved project ...

June 10, 2026

Mercom Research Focus

FDRE Projects Create New Revenue Streams Through Surplus Power Sales

Firm and Dispatchable Renewable Energy (FDRE) projects are creating new revenue opportunities for developers by enabling the sale of excess renewable generation. These projects typically combine oversized solar, wind, and battery ...

June 9, 2026

Markets & Policy

MNRE Waives Factory Inspection for Higher-Wattage ALMM Solar Modules

The Ministry of New and Renewable Energy (MNRE) has waived the requirement for physical factory inspections for certain higher-wattage solar modules under the Approved List of Models and Manufacturers (ALMM). The waiver will apply...

June 9, 2026

Markets & Policy

ALMM List-II Relief Only for PM Surya Ghar Consumers Giving Up Subsidy

The Ministry of New and Renewable Energy (MNRE) has clarified that residential rooftop solar consumers availing net metering under the PM Surya Ghar: Muft Bijli Yojana who choose the ‘Give It Up’ option are exempt from the applica...

June 9, 2026

Latest News

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Funding and M&A Roundup: VoltSeal Raises $1.5 Million in Pre-Seed Round

From: Mercom Capital Group VoltSeal, a distributed battery storage company serving commercial and industrial consumers, has raised $1.5 million in a pre-seed funding round led by Theia Ventures. Rainmatter by Zerodha, Momentum Capital, Social Alpha,...

June 10, 2026

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Project Finance Brief: esVolta Secures $450 Million Upsized Credit Facility

From: Mercom Capital Group esVolta, a developer, owner, and operator of utility-scale battery energy storage projects, has expanded its corporate credit facility to up to $450 million to support new energy storage projects across North America....

June 10, 2026

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Uttar Pradesh Power Regulator Approves 110 MW KUSUM Projects

The Uttar Pradesh Electricity Regulatory Commission (UPERC) has approved 42 power purchase agreements (PPAs) for 110.5 MW grid-connected solar projects under the feeder-level solarization program of PM-KUSUM Component C-2. The approvals were granted...

June 9, 2026

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ACME Solar Raises ₹28 Billion Via Qualified Institutional Placement

Gurgaon-based independent power producer ACME Solar Holdings has completed a ₹28 billion (~$293.47 million) qualified institutional placement (QIP), its first equity capital raise since listing in 2024. The funding saw participation from existing...

June 9, 2026

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Ministry of Defense Approves 250 MW Solar Plus Storage Project

India’s Ministry of Defense has approved a 250 MW solar power project with a battery energy storage system at Sitapur, Uttar Pradesh, on approximately 850 acres of vacant land. Defense Minister Rajnath Singh approved the project, which will be...

June 9, 2026

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CERC Allows Withdrawal of Grid Connectivity Request for 250 MW Hybrid Project

The Central Electricity Regulatory Commission (CERC) has directed the Central Transmission Utility of India (CTUIL) to process the application of a renewable energy project developer to withdraw connectivity for its proposed 250 MW wind-solar hybrid...

June 9, 2026

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POWERGRID Floats Tender for 400 kV GIS Substation in Tamil Nadu

Power Grid Corporation of India (POWERGRID) has invited bids to set up a 400 kV gas-insulated switchgear (GIS) substation in Tuticorin, Tamil Nadu, for the transmission system associated with proposed green hydrogen and green ammonia projects in the...

June 9, 2026

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Dhanish Cotton Mills Installs Rooftop Solar to Cut Carbon Emissions

India’s textile industry has always been energy-intensive. But with rising power costs and growing pressure to reduce carbon emissions, textile manufacturers are increasingly turning to solar power as a practical business solution. A recent rooftop...

June 9, 2026

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esVolta Secures $450 Million Upsized Credit Facility for Energy Storage Portfolio

esVolta, a developer, owner, and operator of utility-scale battery energy storage projects, has expanded its corporate credit facility to up to $450 million to support new energy storage projects across North America. Nomura Securities International,...

June 9, 2026

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