Andhra Pradesh Invites Bids for 93 MW Rooftop Solar Projects

Stafford Capital Partners Secures $105 Million Refinancing for Solar Portfolio

J&V Energy to Acquire 187 MW Operational Solar Portfolio from GIP

MN8 Energy Expands Corporate Credit Facility to $650 Million

Tamil Nadu Regulator Approves Tariff for 500 MW Pumped Storage Project

BHEL Floats Tender for 1.5 MW Rooftop Solar Project in Bhopal

Indraprastha Gas Tenders 160 MW Solar Project With 28 MWh Battery Storage

Terra Clean Issues Land Aggregation Tender for 100 MW Solar Project

RUMSL Invites Bids for Land for Solar Projects in Madhya Pradesh

Rajasthan Brings Renewable Energy Projects Under Land Conversion Framework


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					</table><p>In the first quarter (Q1) of 2026, government agencies <a href="https://www.mercomindia.com/solar-tenders-and-auctions-decline-in-q1-2026-amid-focus-on-project-execution" target="_blank" rel="noopener">issued</a> nearly 6 GW of solar tenders, a 68% year-over-year decrease from 17 GW but almost double the capacity issued in Q4 2025. Although individual agency targets for FY 2025-26 have not yet been specified, the Ministry of New and Renewable Energy (MNRE) has set a target to install 50 GW of renewable energy capacity in the coming year, including a minimum of 10 GW of wind projects.</p>
<p>MNRE <a href="https://mercomindia.com/mnre-bars-duplicate-module-inverter-serial-number-submissions-under-surya-ghar" target="_blank" rel="noopener">discontinued</a> the provision that allowed installation submissions containing duplicate entries of solar module or inverter serial numbers to be submitted based on a vendor undertaking under PM Surya Ghar: Muft Bijli Yojana. The Ministry reviewed the provision and decided that vendor installation submissions for applications containing repeated solar module or inverter serial numbers will not be allowed, based on a vendor undertaking for all new applications submitted after May 26, 2026.</p>
<p>The Gujarat Electricity Regulatory Commission <a href="https://www.mercomindia.com/gujarat-regulator-clears-guvnls-bid-deviations-for-firm-renewable-power" target="_blank" rel="noopener">allowed</a> Gujarat Urja Vikas Nigam’s request to modify the bid documents and the draft power purchase agreement for procuring firm and dispatchable renewable energy with energy storage. The approved deviations cover force majeure, changes in law, bid capacity allocation, excess power treatment, delivery point, transmission risk, project monitoring, demand fulfillment ratio, certification, compliance with the Approved List of Models and Manufacturers, and technical requirements.</p>
<p>Private equity firm, FH Capital, <a href="https://www.mercomindia.com/fh-capital-to-acquire-75-stake-in-jinkosolars-us-subsidiary" target="_blank" rel="noopener">entered</a> into a definitive agreement to acquire a 75.1% stake in China-based solar module and cell manufacturer, JinkoSolar’s U.S. subsidiary. Post-acquisition, JinkoSolar will hold a 24.9% minority stake in its U.S. subsidiary, Jinko Solar Industries. The company did not disclose the cost of acquisition.</p>
<p>Hyderabad-based Premier Energies and Syrma SGS Technology decided not to <a href="https://www.mercomindia.com/premier-energies-syrma-sgs-drop-plan-to-acquire-k-solare-stake" target="_blank" rel="noopener">proceed</a> with the proposed acquisition of K-Solare Energy, an inverter manufacturer, through a joint venture. Premier Energies said the decision followed mutual discussions and an evaluation of ‘evolving strategic considerations’. The company said the parties had agreed to terminate discussions with K-Solare amicably and that there were no material financial implications arising from the decision.</p>
<p>NHPC <a href="https://www.mercomindia.com/nhpc-issues-rfs-for-13-mw-of-rooftop-solar-projects-in-northeast-india" target="_blank" rel="noopener">issued</a> a request for selection to set up 13.255 MW of grid-connected rooftop solar projects across Sikkim, Manipur, and Nagaland. Selected bidders will install 5,060 kW of solar projects in Sikkim, 5,627 kW in Manipur, and 2,568 kW in Nagaland.</p>
<p>Mumbai-based solar glass manufacturer Borosil Renewables <a href="https://www.mercomindia.com/borosil-renewable-revenue-jumps-18-yoy-reports-profit-of-%E2%82%B91-69-billion" target="_blank" rel="noopener">reported</a> revenue of ₹4.4 billion (~$46.24 million) in Q4 of the financial year 2026, increasing 17.77% from ₹3.74 billion (~$39.26 million) a year ago. Its profit after tax stood at ₹1.69 billion (~$17.78 million), against a net loss of ₹295.29 million (~$3.10 million) in the same quarter last year.</p>
<p>Accelerated <a href="https://www.mercomindia.com/eu-trails-2030-climate-goals-as-solar-storage-offers-fastest-fix-report" target="_blank" rel="noopener">deployment</a> of solar systems combined with battery energy storage systems offers the fastest and most cost-effective pathway for the European Union to reach its 2030 climate and renewable energy targets, according to a SolarPower Europe report. The report states that the challenge facing the EU is no longer technological but rather about how the system is set up and regulated, requiring reforms to grid planning, electrification, flexibility markets, storage deployment, and electricity market design.</p>


Daily News Wrap-Up: Solar Tenders and Auctions Drop in Q1 2026


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-nyobolt-raises-60-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Nyobolt, a U.K.-based fast-charging Li-ion battery solutions developer, </strong><a href="https://mercomcapital.com/nyobolt-raises-60-million-expand-fast-charging-battery-technology/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $60 million in a Series C funding round, bringing the company’s valuation to $1 billion. </strong>The company plans to use the proceeds to expand its development pipeline and commercialize its battery solutions for autonomous machines and AI data center infrastructure. Symbotic, an artificial intelligence-enabled robotics technology company for the supply chain, led the funding round. IQ Capital, Latitude (Phoenix Court), Scania Invest, and CBMM also participated.</p>
<p><strong>Moment Energy, an electric vehicle battery repurposing company, has </strong><a href="https://mercomcapital.com/moment-energy-raises-40-million-series-b-funding-round/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $40 million in its Series B funding round</strong>, bringing the total capital raised to more than $100 million. Evok Innovations led the funding round, with participation from Liberty Mutual Investments, W23 Global Fund, and Acario, the corporate venture capital arm of Tokyo Gas. The new investors join Moment Energy’s existing major investors, including Amazon’s Climate Pledge Fund, Voyager Ventures, and In-Q-Tel.</p>
<p><strong>Ecofy, a non-banking financial company backed by Eversource Capital, British International Investment, FMO, and Finnfund, has </strong><a href="https://www.mercomindia.com/ecofy-secures-15-million-from-mirova-to-support-rooftop-solar-financing" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $15 million</strong> in debt financing from Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investing. The loan proceeds will be used to support Ecofy’s onward lending to finance residential, commercial, and industrial rooftop solar installations, as well as electric mobility solutions across India.</p>
<p><strong>MARS Energy Group has </strong><a href="https://mercomcapital.com/mars-energy-acquires-two-california-roofing-solar-service-providers/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> California-based Solar Savings Direct, doing business as Solar and Roof Direct, and Sequoia Roofing &amp; Construction</strong>. The two acquired companies serve California homeowners and production homebuilders across roofing, solar, and battery storage projects. The company did not disclose the transaction value or the financial terms of the acquisitions.</p>
<p><strong>Private equity firm, FH Capital, has </strong><a href="https://www.mercomindia.com/fh-capital-to-acquire-75-stake-in-jinkosolars-us-subsidiary" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into a definitive agreement to acquire a 75.1% stake in China-based solar module and cell manufacturer, JinkoSolar’s U.S. subsidiary</strong>. Post-acquisition, JinkoSolar will hold a 24.9% minority stake in its U.S. subsidiary, Jinko Solar Industries. The company did not disclose the acquisition cost.</p>
<p><strong>India-based Amrut Energy, a solar water pump manufacturer and renewable energy solutions provider, has </strong><a href="https://www.mercomindia.com/amrut-energy-merges-with-mascot-dynamics-to-scale-solar-pumps" target="_blank" rel="noopener"><strong>announced</strong></a><strong> its merger with Mascot Dynamics</strong>, a diversified engineering group operating in India’s oil and gas, chemical, and water infrastructure sectors. The merged company will operate as “Amrut Energy, a Division of Mascot Dynamics”.</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/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week’s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-catl-raises-5-billion" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Nyobolt Raises $60 Million


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					</table><p>Private equity firm, <a href="https://www.fhcinv.com/" target="_blank" rel="noopener">FH Capital</a>, has entered into a definitive agreement to acquire a 75.1% stake in China-based solar module and cell manufacturer, <a href="https://www.jinkosolar.com/en/" target="_blank" rel="noopener">JinkoSolar</a>’s U.S. subsidiary.</p>
<p>Post-acquisition, JinkoSolar will hold a 24.9% minority stake in its U.S. subsidiary, Jinko Solar Industries.</p>
<p>The company did not disclose the cost of acquisition.</p>
<p>Through this transaction, FH Capital, a private equity firm focused on growth-oriented clean energy investments, will acquire controlling ownership of a 2 GW solar module manufacturing facility and a growing battery energy storage system business.</p>
<p>FH Capital plans to deploy additional expansion capital to double the facility’s solar module manufacturing capacity and to initiate domestic manufacturing of battery energy storage systems.</p>
<p>The transaction is subject to customary closing conditions and regulatory approvals.</p>
<p>As of March 31, 2026, JinkoSolar has over 10 production facilities globally, over 20 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the U.S., and Mexico.</p>
<p>In Q1 2026, Jinko’s total module shipments were approximately 13.7 GW, with overseas markets <a href="https://www.mercomindia.com/drop-in-module-shipments-pushes-jinko-solars-q1-revenue-down-11-5-yoy" target="_blank" rel="noopener">accounting</a> for over 80% and shipments to the U.S. accounting for approximately 4%.  Its shipments of energy storage systems rose by more than 350% YoY to 1.42 GWh, and its signed and high-potential orders exceeded 10 GWh.</p>
<p>The company is also expanding its footprint in the distributed solar market and entering diverse niche application scenarios that align with rising global power demand and shifts toward cleaner, more distributed energy systems.</p>
<p>In 2026, Jinko’s module shipments are expected to be within the range of 75 and 85 GW and 14-16 GW in Q2 2026. Over 60% of the shipments are expected to have modules exceeding 640 W.</p>
<p>According to Mercom Capital Group’s Q1 2026 Solar Funding and M&amp;A Report, 28 solar corporate M&amp;A transactions were <a href="https://www.mercomindia.com/global-corporate-funding-for-solar-surges-131-yoy-11-1-billion-in-q1-2026" target="_blank" rel="noopener">recorded</a> during Q1 2026, representing a 47% increase from 19 transactions in Q1 2025 and a 33% rise from 21 transactions in Q4 2025.</p>


FH Capital to Acquire 75% Stake in JinkoSolar’s US Subsidiary

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