Total corporate funding, including venture capital funding, public market, and debt financing, for the solar sector globally, stood at $17.3 billion in the first nine months of 2025, 22% lower than the $22.3 billion raised in 9M 2024. However, financing picked up in the third quarter (Q3) of 2025, totaling $6.5 billion across 49 deals —a 38% year-over-year (YoY) increase from $4.7 billion across 29 deals in Q3 2024. Quarter-over-quarter (QoQ), funding rose 8% from $6 billion in 39 deals in Q2 2025. These figures were revealed in Mercom Capital Group’s newly released 9M and Q3 2025 Solar Funding and M&A Report.

The Gujarat Electricity Regulatory Commission (GERC) upheld Gujarat Urja Vikas Nigam’s (GUVNL) cancellation of both the base capacity of 250 MW/500 MWh and the additional greenshoe capacity of 250 MW/500 MWh awarded to it to set up standalone battery energy storage systems (BESS). The Commission concluded that since Gensol failed to execute the mandatory battery energy storage purchase agreement and did not submit the required performance bank guarantee on time, the company had breached its post-award obligations. The Commission also confirmed the forfeiture of Gensol’s earnest money deposit amounting to ₹185 million (~$2.11 million).

The Bangladesh Power Development Board (BPDB) invited bids to install 72.5 MW rooftop solar projects on BPDB’s buildings under the third-party operational expenditure model. Bidders must submit a tender security amount of ₹800,000 (~$9,107)/MW and a tender document of ₹5,000 (~$56.9). The last date to submit bids is November 30, 2025. Bids will be opened on the same day. The rooftop projects must be installed on BPDB’s 17 buildings. The project’s capacities will range from 1,500 kW to 7,500 kW.

The Maharashtra State Electricity Transmission Company invited expressions of interest for empaneling engineering, procurement, and construction partners to set up 2,000 MW/4,000 MWh battery energy storage systems. Bidders must submit an earnest money deposit of 25,000 (~$284.6) and a contract performance guarantee amounting to 10% of the total contract value. The successful bidder must also furnish an annual maintenance performance bank guarantee amounting to 4% of the total contract value. The bank guarantee will be valid for five years and must be renewed every five years.

The Military Engineering Services floated a tender to set up a 1 MW grid-connected solar project at Chumathang, Ladakh. Bids must be submitted by November 21, 2025. Bids will be opened on November 28. Bidders must furnish an earnest money deposit of ₹628,000 (~$7,154.17) and a tender fee of ₹3,000 (~$34.18). The contract is valued at ₹60.55 million (~$689,841.95). Selected bidders must submit a performance bank guarantee of 5% of the contract value. The scope of work entails the design, engineering, and commissioning of the solar project. It also involves providing operation and maintenance services for five years.

Independent power producer Juniper Green Energy announced the commissioning of 64 MW of new renewable energy capacity across two projects in Gujarat and Maharashtra. The company has commissioned around 28 MW of wind power capacity in Devbhumi Dwarka, Gujarat, and a 36 MW solar component of its hybrid power project in Nanded, Maharashtra. The Gujarat, the company is implementing a 70 MW wind project through its subsidiary, Juniper Green Kite. The commissioning was achieved four months ahead of schedule. The project has a power purchase agreement with Gujarat Urja Vikas Nigam.

Hyderabad-based integrated solar cell and module manufacturing company Premier Energies announced it will acquire solar inverter manufacturer KSolare Energy and power transformer manufacturing company Transcon Industries. The company will acquire 51% of KSolare Energy’s paid-up equity share capital by purchasing 2,550 equity shares at a total price of ₹867 million (~$9.88 million). Syrma SGS Technologies, an electronics manufacturing services company and part of the Mumbai-based Tandon group, will acquire the remaining 49%, bringing the total acquisition cost to ₹1.7 billion (~$19.38 million).

Electric vehicle maker Tesla reported a total revenue of $28.1 billion for the third quarter of 2025, a 12% YoY increase from $25.1 billion. The company attributed the increase to higher vehicle deliveries and strong growth in its energy business. However, total revenue missed analysts’ estimates by $1.39 billion. Net income fell 29% to $1.77 billion compared to $2.50 billion in Q3 of 2024, while diluted earnings per share (EPS) decreased to $0.50 from $0.72 a year ago. The EPS also missed analysts’ expectations by $0.06.

U.S.-based solar tracker firm Nextracker reported revenue of $905.27 million for the second quarter of the financial year (FY) 2026, a 4.74% QoQ increase from $864 million and a 42.3% YoY increase from $636 million. The revenue exceeded analysts’ expectations by $65.38 million. The company’s earnings before interest, taxes, depreciation, and amortization totaled $224 million, up 29% from $173 million in the same quarter of the previous year. Its profit grew 27.3% to $146.9 million from $115.4 million in Q2 FY 2025.

Utility-scale projects in the U.S. remained the primary contributor to solar expansion in 2024, accounting for 80% of new solar and 54% of all new capacity additions, according to a report by Lawrence Berkeley National Laboratory (LBL). LBL’s Utility-Scale Solar 2025 update considers projects of at least 5 MW capacity as utility-scale solar. Annual utility-scale capacity additions in the U.S. rose to 30 GW in 2024, rising 56% from 19 GW in the previous year. However, the report stated that the new capacity is not uniformly spread across the U.S. The growth is concentrated in the Electric Reliability Council of Texas, with 7.6 GW, the Midcontinent Independent System Operator, with 6 GW, and the non-Independent System Operator West and Southeast, both with 4.7 GW.