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					</table><p>Philippines-based renewable energy company ACEN Renewables International, a subsidiary of <a href="https://www.acenrenewables.com/" target="_blank" rel="noopener">ACEN Corporation</a>, has consolidated its joint venture (JV) with <a href="https://upcrenewables.com/" target="_blank" rel="noopener">UPC Renewables</a>, taking 100% ownership of the JV.</p>
<p>Through this acquisition, ACEN will add 819 MW of renewable energy projects to its India portfolio, comprising three projects under construction and at advanced stages of development in Rajasthan and Karnataka.</p>
<p>The portfolio also includes a pipeline of nearly 7 GW of renewable energy projects across India.</p>
<p>In June 2025, ACEN, in partnership with UPC Renewables, commenced construction of a 420 MW solar project in Rajasthan and a 120 MW wind project in Karnataka.</p>
<p>Patrice Clausse, Group Chief Investments Officer and President and CEO at  ACEN International, said that the company views India as a core market for ACEN’s international growth.</p>
<p>Last year, ACEN announced achieving 100% renewable energy generation across its portfolio.</p>
<p>In 2025, ACEN completed and advanced 4,634 MW of solar projects, 1,957 MW of wind projects, and 304 MW of battery energy storage projects.</p>
<p>Last year, UPC Renewables <a href="https://www.mercomindia.com/adyant-upc-renewables-sjvn-600-mw-wind-auction" target="_blank" rel="noopener">won</a> 100 MW in SJVN’s auction to set up a 600 MW interstate transmission system connected to wind power projects.</p>
<p>Across the globe, UPC Renewables has completed 80 projects and has more than 10 GW under development. UPC has operationalized 1,600 MW of solar projects and 499 MW of wind in India.</p>
<p>Before the acquisition, the company had 500 MW of jointly owned wind and solar projects in India and Vietnam.</p>
<p>In 2023, Independent power producer BrightNight and ACEN Corporation, through ACEN Renewables International and ACEN International, <a href="https://mercomindia.com/brightnight-acen-hybrid-renewable-india" target="_blank" rel="noopener">announced</a> a joint partnership to develop BrightNight’s first 1.2 GW renewable energy portfolio in India, utilizing multiple technologies.</p>
<p>According to Mercom Capital Group’s 2025 Annual and Q4 Solar Funding and M&amp;A Report, mergers and acquisitions activity was 17% <a href="https://mercomindia.com/corporate-solar-funding-down-16-yoy-in-2025-deal-count-rises-ma-robust" target="_blank" rel="noopener">higher</a> YoY in 2025, with 96 corporate M&amp;A transactions, up from 82 in 2024.</p>


ACEN Consolidates Joint Venture with UPC Renewables, Takes 100% Ownership


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-solar-subscriptions-firm-sunsave/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Sunsave, a UK-based solar subscription service provider, has </strong><a href="https://mercomcapital.com/solar-subscription-service-firm-sunsave-raises/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> £5.4 million (~$6.79 million) in funding to </strong>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.</p>
<p><strong>Sienna Bidco, wholly owned by funds advised by KKR, has agreed to </strong><a href="https://mercomcapital.com/kkrs-sienna-bidco-acquire-smart-metering-systems/" target="_blank" rel="noopener"><strong>acquire</strong></a><strong> UK-based Smart Metering Systems (SMS)</strong>, 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.</p>
<p><strong>UP Catalyst, a producer of sustainable carbon nanomaterials and graphite, </strong><a href="https://mercomcapital.com/up-catalyst-secures-4-3-million-in-seed-funding/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> a €4 million (~$4.31 million) seed investment</strong> 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.</p>
<p><strong>Graphite India, a graphite electrode manufacturer, has </strong><a href="https://www.mercomindia.com/graphite-india-forays-battery-investment-in-godi" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into a definitive transaction to invest ₹500 million (~$6 million)</strong> 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.</p>
<p><strong>Uniqus Consultech has </strong><a href="https://www.mercomindia.com/uniqus-acquires-its-esg-practice" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> Goodera’s global business that helps corporates manage their sustainability programs</strong> 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.</p>
<p><strong>ACEN Renewables, a subsidiary of ACEN CORPORATION based in Singapore, </strong><a href="https://www.acenrenewables.com/2023/12/acen-acri-secures-first-100-million-dollars-green-term-loan-facility-mufg/" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a $100 million green term loan facility from MUFG Bank</strong>, 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.</p>
<p>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>.</p>
<p>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></p>


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


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					</table><p>Independent power producer <a href="https://brightnightpower.com/" target="_blank" rel="noopener">BrightNight</a> and <a href="https://www.acenrenewables.com/" target="_blank" rel="noopener">ACEN Corporation</a>, through ACEN Renewables International and ACEN International, will jointly develop BrightNight&#8217;s first 1.2 GW renewable energy portfolio in India, utilizing multiple technologies.</p>
<p>The partnership would invest $250 million in equity and performance guarantees.</p>
<p>The parties will construct hybrid wind-solar projects incorporating energy storage to function round-the-clock. The projects would cater to the specific needs of high credit-rated central and state utilities and commercial and industrial offtakers.</p>
<p>&#8220;With this partnership, we are significantly strengthening our foothold in India&#8217;s fast-growing market as we shift from pure solar play to multi-technology renewables. We look forward to working with BrightNight&#8217;s highly experienced local team as our combined expertise will help India progress towards their energy transition goal and spur the global transition towards a Net Zero economy,&#8221; said Patrice Clausse, ACEN International CEO.</p>
<p>ACEN has a prominent presence in its core market, the Philippines, as well as in Australia, Vietnam, Indonesia, and India, with ~4 GW of renewable capacity under its umbrella in the Asia-Pacific region. ACEN aims to achieve 20 GW in renewable capacity by 2030.</p>
<p>BrightNight is creating a worldwide renewable energy portfolio of 23 GW in the U.S. and Asia Pacific, including India, Australia, the Philippines, and Bangladesh.</p>
<p>BrightNight said in February that it intends to establish its initial 100 MW co-located wind-solar hybrid renewable power project in Maharashtra, aiming to supply clean, high-capacity factor power to commercial and industrial customers in the state. The project is set to be commissioned in the first quarter of 2024.</p>
<p>In November last year, ACEN <a href="https://mercomindia.com/daily-news-wrap-up-indian-army-tata-power-ev-charging-points/" target="_blank" rel="noopener">joined</a> forces with Clean Energy Finance Corporation (CEFC) to develop an 8 GW clean energy portfolio, including solar, wind, battery, and pumped hydro. CEFC will invest $75 million into the project to help accelerate large-scale renewable assets across Australia.</p>
<p>Last February, UPC Solar Asia Pacific and ACEN <a href="https://mercomindia.com/daily-news-wrap-up-upc-construction-solar-project/" target="_blank" rel="noopener">initiated</a> the construction of the Masaya Solar Farm, a 300 MW solar project, in Madhya Pradesh.</p>


BrightNight, ACEN to Develop 1.2 GW Hybrid Renewable Projects in India 

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