SECI Tenders 6.25 MW Rooftop Solar Projects in Six States

KPI, Juniper, Jakson, Inox Win GUVNL’s 250 MW Wind Auction

Assam Issues EoI to Set Up 357 MW Solar Projects on Agricultural Land

Assam Regulator Rejects DISCOM’s Plea to Procure Solar Power at ₹3.92/kWh

Higher Solar Module Sales Drive Waaree Energies’ Income Up 38% in Q4 FY 2025

Daily News Wrap-Up: MNRE Expands Solar Module Capacity Under ALMM by 14,670 MW

US Slaps Steep Anti-dumping and Anti-Subsidy Duties on Solar Imports from Southeast Asia

Madhya Pradesh Issues Incentives for Biofuel Projects Above ₹100 Million

Funding and M&A Roundup: Solar Energy Startup Arnergy Raises $15 Million

Delhi’s Uttara Guruvayurappan Temple Turns Green with 80 kW Rooftop Solar System

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-apricus-generation-secures-30-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Apricus Generation, a distributed solar and battery development platform and independent power producer, <a href="https://mercomcapital.com/apricus-generation-secures-30-million-revolving-credit-facility/" target="_blank" rel="noopener">announced</a> that it has secured a $30 million revolving credit facility with Atlantic Union Bank. The funding is expected to provide the company with capital flexibility to accelerate project development. This funding is anticipated to further strengthen the company’s business model.
Independent power producer AMPIN Energy Transition <a href="https://www.mercomindia.com/ampin-energy-secures-50-million-investment-from-siemens-financial-services" target="_blank" rel="noopener">secured</a> an investment of $50 million (~₹4.28 billion) from Siemens Financial Services, the financing arm of Siemens AG. The investment will strengthen AMPIN’s position in India’s renewable energy transition. It will also fuel the company’s growth in commercial and industrial, and utility-scale renewable energy projects.
BluPine Energy has <a href="https://www.mercomindia.com/blupine-energy-secures-%E2%82%B917-87-billion-from-nabfid-for-renewables-expansion" target="_blank" rel="noopener">secured</a> ₹17.87 billion (~$210 million) in structured financing from the National Bank for Financing Infrastructure and Development. BluPine Energy aims to use the funds to optimize its financial structuring, enhance operational efficiency, and drive long-term portfolio expansion. The company will deploy the funds toward repowering existing solar assets to improve their efficiency and operational effectiveness.
Non-banking financial services company Shriram Finance has <a href="https://www.mercomindia.com/shriram-finance-secures-150-million-from-adb-for-ev-financing" target="_blank" rel="noopener">secured</a> a $150 million loan from the Asian Development Bank to enhance access to electric vehicle finance and low-emission commercial vehicles in India. The funding is part of a larger $306 million financing package, which includes an additional $150 million from the Japan International Cooperation Agency and ₹500 million (~$5.83 million) from the Export-Import Bank in India.
Ardian, a private equity firm, has reached an agreement to <a href="https://mercomcapital.com/ardian-to-acquire-renewables-company-akuo/" target="_blank" rel="noopener">acquire</a> Akuo, a leading independent power producer specializing in renewable energy. This acquisition is expected to help Ardian gain expertise in the renewable energy sector and support Akuo in its next growth phase. Ardian also plans to provide the necessary financial capacity for Akuo’s various renewable energy projects.
ONGC has approved an <a href="https://www.mercomindia.com/ongc-approves-%E2%82%B933-billion-investment-for-ayana-acquisition" target="_blank" rel="noopener">investment</a> of ₹33 billion (~$384.84 million) in ONGC Green to part-fund the acquisition of a 100% stake in Ayana Renewable Power. The company will subscribe to the rights offer of equity shares issued by ONGC Green. The transaction for the acquisition was signed with the National Investment and Infrastructure Fund, British International Investment and its subsidiaries, and Eversource Capital.
Global alternative asset management firm TPG <a href="https://www.mercomindia.com/tpg-acquires-siemens-gamesas-india-and-sri-lanka-wind-businesses" target="_blank" rel="noopener">acquired</a> a majority stake in Siemens Gamesa’s onshore wind turbine manufacturing business in India and Sri Lanka. Following the transaction, a new independent company will be established to build a business to manufacture, install, and service onshore wind turbines to capitalize on India’s wind market potential. Siemens Gamesa will divest 90% of its wind business in India and Sri Lanka, retaining a 10% stake in the transferred business.
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-trende-secures-7-2-million" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Apricus Generation Secures $30 Million

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-battery-startup-wattalps-secures-12-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
WATTALPS, a European lithium-based battery startup, has <a href="https://mercomcapital.com/lithium-ion-battery-startup-wattalps-secures-12-million/" target="_blank" rel="noopener">secured</a> €11 million (~$12 million) in Series A funding. New investors led this funding round, including Supernova Invest, Move Energy, Ring Capital, and CASRA Capital. Existing investors like EIT InnoEnergy, Eximium, and EIC Fund participated in this round. The funding will allow the company to expand its product range, improve its patented cooling technology to meet additional market needs and extend its commercial coverage beyond Europe.
India Grid Trust (IndiGrid), a power infrastructure investment trust, has launched a preferential issue of shares priced at ₹136.43 (~$1.62) to <a href="https://www.mercomindia.com/indigrid-receives-%E2%82%B96-billion-from-aimco-and-hdfc" target="_blank" rel="noopener">raise</a> approximately ₹6.95 billion (~$82.7 million). This move follows the successful conclusion of an Offer-for-Sale managed by its sponsor, KKR, which saw substantial interest from existing and new long-term investors. The OFS, aimed at reducing KKR’s stake from 21.17% to 3.85%, was oversubscribed nearly two times, reflecting strong investor confidence. This attracted participation from prominent institutional investors such as L&amp;T, HSBC Global Asset Management, SBI Life Insurance, and Aditya Birla Mutual Fund.
Apricus Generation, a distributed solar and battery development platform and independent power producer, <a href="https://mercomcapital.com/apricus-generation-raises-series-a-funding-to-support-growth/" target="_blank" rel="noopener">announced</a> closing an undisclosed Series A funding round led by Blue Marlin Partners and Current Yield with Participation Fund. The funds will help the company expand its business plans and support the growth of its recent acquisition of a controlling stake in Nexus Renewables, a developer, owner, and operator of solar and energy storage projects under various stages of construction and development.
Inox Wind (IWL) has announced that the board of its subsidiary Resco Global Wind Services (Resco Global), an engineering, procurement, and construction solutions provider, has <a href="https://www.mercomindia.com/inoxs-epc-subsidiary-resco-to-raise-%E2%82%B93-5-billion-via-sale-of-shares" target="_blank" rel="noopener">approved</a> a proposal to raise ₹3.5 billion (~$41.7 million by selling a single-digit equity stake to marquee investors. The company will utilize the funds to scale up its business offerings and capitalize on large-scale opportunities in the Indian wind sector. Resco offers end-to-end services for wind projects from the conceptualization stage up to project commissioning and the construction of transmission infrastructure.
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-sibanye-stillwater-secures-559-million" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Battery Startup WATTALPS Secures $12 Million

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-apricus-acquires-controlling-stake-in-nexus/" target="_blank" rel="noopener">Mercom Capital Group</a>
Apricus Generation, a holding company designed to build a national distributed solar and battery development platform and independent power producer (IPP), <a href="https://mercomcapital.com/apricus-generation-acquires-controlling-stake-nexus-renewables/" target="_blank" rel="noopener">acquired</a> a controlling stake in Nexus Renewables, a developer, owner, and operator of solar and energy storage projects under various stages of construction and development.
Energy Park, an EV charging solution provider, <a href="https://mercomcapital.com/ev-charging-solution-provider-energy-park-funding/" target="_blank" rel="noopener">secured</a> an initial £35 million (~$45 million) investment from Zouk Capital, manager of the UK Government’s Charging Infrastructure Investment Fund. With this funding, the company is set to accelerate its plans to provide charging facilities to residential sites across the UK.
Gireve, a France-based EV charging solutions provider, <a href="https://mercomcapital.com/ev-charging-firm-gireve-million-funding/" target="_blank" rel="noopener">raised</a> €20 Million (~$22 million) in a fresh funding round from the investor Partech through its impact fund. Existing shareholders like EDF Group, ENEDIS, the Banque des Territoires (Caisse des Dépôts), and Demeter also participated in this funding round. With this funding, the company plans to accelerate its platform expansion in Europe and internationally.
Jakson Green, the renewable energy arm of the Jakson Group, has <a href="https://www.mercomindia.com/jakson-green-sustainability-boost-from-hsbc" target="_blank" rel="noopener">obtained</a> a sustainable trade facility of ₹600 million (~$7.1 million) from HSBC India. The trade facility will help bolster the company’s operational needs within the renewable energy sector in India and overseas.
Electric vehicle company Euler Motors has <a href="https://www.mercomindia.com/ev-firm-euler-secures-series-c-funding-round" target="_blank" rel="noopener">closed</a> its Series C funding round, securing ₹2 billion (~$23.9 million) and taking the total funding raised so far to ₹5.7 million (~$68,358). The round was led by internal investors such as British International Investment, Blume Venture, and new investor Piramal Alternatives India Access Fund. The newly acquired funds will be used to expand its nationwide presence and service infrastructure. By 2025, the company plans to operate in over 40 cities.
Maxvolt Energy, a manufacturer of lithium battery packs, has <a href="https://www.mercomindia.com/maxvolt-energy-secures-1-5-million" target="_blank" rel="noopener">raised</a> $1.5 million from angel investors to introduce fast-charging lithium-ion batteries and build recycling plants. The company said that the capital injection will support Maxvolt’s research and development into lithium battery architectures for electric vehicles such as scooters and rickshaws, energy storage systems, and medical devices.
Zypp Electric, an electric vehicle (EV)-as-a-service platform, has <a href="https://www.mercomindia.com/zypp-bags-15-million-to-expand-ev-fleet-across-15-cities-in-india" target="_blank" rel="noopener">raised</a> $15 million in its Series C funding round, allowing the company to expand its fleet from 21,000 to 200,000 e-scooters across 15 Indian cities by 2026. The funding round, led by Japanese major ENEOS, comprised $15 million in equity as part of its ongoing $50 million round, which includes $40 million in equity and $10 million in debt.
Maxeon Solar Technologies, a Singapore-based solar solutions provider, has <a href="https://mercomcapital.com/maxeon-solar-technologies-secures-debt-financing/" target="_blank" rel="noopener">secured</a> a $97.5 million debt financing from the company’s largest shareholder, TCL Zhonghuan Renewable Energy Technology (TZE). TZE also committed to an additional $100 million equity investment, in each case subject to regulatory approvals. The transaction will substantially dilute existing public shareholders, with TZE ultimately becoming a controlling shareholder. The funding infused will be used as capital to support the company’s operations.
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-recurrent-energy-secures-1-4-billion" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Apricus Acquires Controlling Stake in Nexus

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