Project Finance Brief: Emeren Sells 65 MW Solar Portfolio in Germany

Funding and M&A Roundup: Moment Energy Secures $15 Million

POWERGRID Invites Bids for 1.07 MW Rooftop Solar Project at NIT Durgapur

Adani Bags $2.89 Billion 6 GW Renewable Energy Transmission Project

NHPC Invites Bids for 125 MW/500 MWh Standalone BESS

Germany Adds 16.2 GW of Solar Capacity in 2024, Sets New Record

REIL Floats Rate Contract Tender for 17.55 MW Rooftop Solar Projects

NHPC Invites Bids for 39.73 MW Rooftop Solar Projects in Sikkim and J&K

US ITC Rules Voltage Not Guilty in Patent Infringement Case   

MERC Approves Tariff for Procuring 13 MW Wind-Solar Hybrid Power


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/01/amazon_polly_74883.mp3?version=1735793585">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-sunairio-raises-6-4-million-in-funding/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Sunairio, a weather intelligence platform developer for renewable energy prediction, <a href="https://mercomcapital.com/sunairio-raises-6-4-million-in-an-oversubscribed-funding-round/" target="_blank" rel="noopener">announced</a> the </strong>closing<strong> of an oversubscribed $6.4 million funding round.</strong> This closing brings the total funding raised by the company to date to $8.8 million. The funding round was led by Buoyant Ventures, Constellation Technology Ventures, and MassMutual Ventures’ Climate Tech Fund, with additional participation from Rosecliff Ventures and existing investors.</p>
<p><strong>JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, has </strong><a href="https://www.mercomindia.com/jsw-neo-acquire-o2-power-125-billion" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into a definitive agreement to acquire a 4,696 MW renewable energy platform from O2 Power Pooling.</strong> After adjustments for net current assets, the platform’s enterprise valuation is approximately ₹124.68 billion (~$1.46 billion). The acquisition includes O2 Power Midco Holdings and O2 Energy SG. The transaction is subject to approval by the Competition Commission of India and other customary regulatory clearances typical for transactions of this scale.</p>
<p><strong>Automobile manufacturer Mahindra &amp; Mahindra has </strong><a href="https://www.mercomindia.com/bii-invest-mahindra-mahindra" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that the final tranche of investment by British International Investment (BII)</strong> in its subsidiary Mahindra Electric Automobile has been revised from ₹7.25 billion (~$84.74 million) to ₹6.5 billion (~$75.98 billion). The final tranche is expected to be completed by March 31, 2025. This revision brings BII’s total investment in Mahindra Electric Automobile to ₹18.5 billion (~$216.28 billion), resulting in a 2.64% to 4.58% shareholding on a fully diluted basis. Mahindra confirmed that this change will not affect Mahindra Electric Automobile’s overall business plan.</p>
<p><strong>Enercity, a German energy supplier, has <a href="https://mercomcapital.com/enercity-acquires-hanwha-q-cells-solar-portfolio-and-other-assets/" target="_blank" rel="noopener">acquired</a> key business areas along with a solar portfolio from Hanwha Qcells, a manufacturer of solar cells, modules, and energy storage systems. </strong>The company is also selling its shares in LYNQTECH, a cloud platform that streamlines and integrates sales-related processes for energy supply companies. Enercity Digital, a wholly owned subsidiary of Enercity and previously holding approximately 35% of LYNQTECH, will become the sole owner.</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&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-jet-charge-receives-45-million" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Sunairio Raises $6.4 Million in Funding


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/12/amazon_polly_74707.mp3?version=1735308538">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>JSW Neo Energy, a wholly-owned subsidiary of <a href="https://www.jsw.in/energy" target="_blank" rel="noopener">JSW Energy</a>, has entered into a definitive agreement to acquire a 4,696 MW renewable energy platform from O2 Power Pooling. After adjustments for net current assets, the platform&#8217;s enterprise valuation is approximately ₹124.68 billion (~$1.46 billion).</p>
<p>The acquisition includes O2 Power Midco Holdings and O2 Energy SG. The transaction is subject to approval by the Competition Commission of India and other customary regulatory clearances typical for transactions of this scale.</p>
<p><a href="https://www.o2power.in/" target="_blank" rel="noopener">O2 Power</a> operates a renewable energy platform with a capacity of 4,696 MW, of which 2,259 MW is expected to be operational by June 2025. An additional 1,463 MW is under construction, and 974 MW is in the pipeline, scheduled for commissioning by June 2027. The platform offers a blended average tariff of ₹3.37 (~$0.039)/kWh and an average operational life of approximately 23 years.</p>
<p>Spread across seven Indian states, the acquisition will enhance JSW Energy&#8217;s locked-in generation capacity by 23%, increasing from 20,012 MW to 24,708 MW.</p>
<p>EQT Infrastructure and Temasek jointly established O2 Power Pooling, which has most of its capacity secured under long-term power purchase agreements. Its Commercial and Industrial (C&amp;I) capacity of 596 MW brings JSW Energy&#8217;s total C&amp;I capacity to 3,694 MW, including 2,653 MW dedicated to the JSW Group.</p>
<p>JSW Neo Energy recently <a href="https://www.mercomindia.com/jsw-neo-energy-to-acquire-125-mw-wind-energy-projects-from-hetero-group/" target="_blank" rel="noopener">decided</a> to acquire three wind energy projects of Hetero Wind Power with a cumulative capacity of 125 MW for an enterprise value of ₹6.3 billion (~$74.93 million). The company executed definitive agreements with the Hetero Group to acquire its three wind power special purpose vehicles – Hetero Wind Power, Hetero Wind Power (Pennar), and Hetero Med Solutions.</p>
<p>JSW Energy PSP Two, a subsidiary of JSW Energy, <a href="https://www.mercomindia.com/jsw-energy-energy-storage-msedcl" target="_blank" rel="noopener">signed</a> an energy storage facility agreement with MSEDCL to supply 1,500 MW/12,000 MWh of power from pumped hydro storage projects.</p>
<p>In September, JSW Neo Energy was one of the winners in Solar Energy Corporation of India’s auction to set up 1,000 MW/2,000 MWh standalone battery energy storage systems. JSW Neo <a href="https://www.mercomindia.com/jsw-reliance-win-energy-storage-auction" target="_blank" rel="noopener">quoted</a> a tariff of ₹381,000 (~$4542)/MW per month for a capacity of 500 MW/1000 MWh.</p>


JSW Neo Energy to Acquire O2 Power for ₹125 Billion


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/09/amazon_polly_70279.mp3?version=1732100769">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://www.jsw.in/energy" target="_blank" rel="noopener">JSW Neo Energy</a> and <a href="https://www.reliancepower.co.in/" target="_blank" rel="noopener">Reliance Power</a> have won Solar Energy Corporation of India’s (<a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>) auction to set up 1,000 MW/2,000 MWh standalone battery energy storage systems (BESS) under tariff-based global competitive bidding.</p>
<p>Both the companies have won an equal capacity of 500 MW/1000 MWh. JSW Neo Energy quoted a tariff of ₹381,000 (~$4542)/MW per month and Reliance Power quoted ₹381,999 (~$4554)/MW per month.</p>
<p>The tender was <a href="https://www.mercomindia.com/seci-invites-bids-for-2-gwh-standalone-energy-storage-systems" target="_blank" rel="noopener">floated</a> in June this year.<img loading="lazy" decoding="async" class="aligncenter wp-image-70298 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/09/1726465341885.jpg" alt="" width="861" height="293" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/09/1726465341885.jpg 861w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/09/1726465341885-300x102.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/09/1726465341885-768x261.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/09/1726465341885-650x221.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/09/1726465341885-624x212.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/09/1726465341885-600x204.jpg 600w" sizes="(max-width: 861px) 100vw, 861px" /></p>
<p>The developers must establish a BESS to make the energy storage facility available to the buying entities for charging and discharging the system as needed.</p>
<p>Bidders had to submit a single bid with a minimum cumulative project capacity of 50 MW/100 MWh and a maximum cumulative capacity of 1,000 MW/2,000 MWh.</p>
<p>The tender had specified that projects that have already been commissioned will not be eligible. However, projects under construction or not yet commissioned may be considered, provided they have not already been accepted under any other Central or State programs.</p>
<p>The identification of land, installation, ownership of the project, obtaining connectivity and approvals, and interconnection with the ISTS network will be the responsibility of the developers.</p>
<p>The tender does not specify any particular battery storage technology, as long as it meets the definition of BESS and fulfills the performance criteria outlined in the tender and the Battery Energy Storage Purchase Agreement.</p>
<p>The BESS can be charged by any energy source, including conventional energy sources, and ownership of the energy source is not required to be held by the developer.</p>
<p>For the capacity contracted with SECI, the responsibility for charging and discharging the system will fall under the buying entity&#8217;s scope.</p>
<p>Recently, SECI <a href="https://www.mercomindia.com/seci-solar-project-storage-ladakh/" target="_blank" rel="noopener">invited</a> bids to commission a 25 MW solar power project with a 20 MW/50 MWh battery energy storage system in the Union Territory of Ladakh.</p>
<p>Subscribe to Mercom’s <a href="https://www.mercomindia.com/product/india-solar-tender-tracker" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of real-time tender activity.</p>


JSW, Reliance Win SECI’s 1 GW/2 GWh Battery Energy Storage Auction


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/01/amazon_polly_62606.mp3?version=1715949465">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://www.jsw.in/energy" target="_blank" rel="noopener">JSW Energy</a>, an independent power producer, reported a net profit of ₹2.32 billion (~$27.9 million), a jump of 29% year-over-year (YoY) in the third quarter (Q3) of the financial year (FY) 2023-24, helped by a strong performance in the renewables segment and lower fuel costs.</p>
<p>Higher generation in both thermal and renewables segments drove the company’s total revenue up by 13% YoY to ₹26.61 billion (~$320 million).</p>
<p>Renewable generation expanded by 71% YoY, reaching 1.4 billion units (BU), driven by capacity additions and contributions from an <a href="https://www.mercomindia.com/jsw-energy-under-previously-agreed-deal" target="_blank" rel="noopener">acquired</a> renewable portfolio, partly offset by lower generation at its hydropower projects.</p>
<p>The company said it has started commissioning its largest standalone wind project, with a capacity of 810 MW. It has received the commercial operation date for the first 51 MW phase of the project.</p>
<p>The earnings before interest, taxes, and depreciation (EBITDA) showed a 69% YoY increase, reaching ₹12.29 billion ($147.9 million) in the quarter, primarily due to higher merchant volumes and contribution from the 1,200 MW Ratnagiri thermal plant, partly offset by lower generation at the 860 MW Vijayanagar plant.</p>
<p><strong>9M FY24</strong></p>
<p>The company reported a net profit of ₹13.71 billion (~$165.03 million) during the first nine months (9M) of FY24, a 13.68% YoY increase.</p>
<p>The revenue surged by 12.42% to ₹90.62 billion (~$1.09 billion), while EBITDA increased by 54.8% to ₹45.45 billion (~$547.09 million).</p>
<p>JSW Energy’s renewable portfolio currently has a total capacity of 5,934 MW. Of these assets, 3,681 MW are operational, including hydropower (1,391 MW), wind (1,615 MW), and solar (675 MW). An additional 2,253 MW of assets are under construction.</p>
<p>The company also has a 3.4 GWh of storage capacity locked in, out of which the Battery Energy Storage System accounts for 29% and the Pumped Hydro Storage System accounts for 71%.</p>
<p>Last month, the company’s wholly-owned subsidiary, JSW Neo Energy, was among the <a href="https://www.mercomindia.com/adani-bhel-jsw-lt-bidders-green-hydrogen-electrolyzer" target="_blank" rel="noopener">bidders</a> for Solar Energy Corporation of India’s tender to set up 450,000 metric tons/annum production facilities for green hydrogen.</p>


JSW Energy’s Profit Rises 29% on Renewables Strength in Q3 FY24


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/03/amazon_polly_52040.mp3?version=1680150923">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://www.mercomindia.com/comments-draft-consumers-rights-amendment" target="_blank" rel="noopener"><strong>The Ministry of Power has invited comments from the stakeholder on the draft Electricity (Rights of Consumers) Amendment Rules, 2023.</strong></a> The proposed rules seek to bring transparency and give more control to consumers when dealing with power distribution companies. The power ministry has sought comments from chief and principal secretaries of all states, power distribution companies, power transmission companies and power generators, industry associations, and central ministries.</p>
<p><a href="https://www.mercomindia.com/renewable-37-more-loans-in-fy-2022-23" target="_blank" rel="noopener"><strong>The Indian Renewable Energy Development Agency has approved ₹327.6 billion (~$4 billion) worth of loans as on March 27, up 37% year-over-year (YoY)</strong></a>, which reflects the continued growth of the renewable energy sector in the country. The government-owned lender disbursed ₹163.2 billion (~$1.98 billion) of loans during FY 2022-23, surpassing the previous highest annual loan disbursement of ₹160.7 billion (~$2 billion) in FY 2021-22.</p>
<p><a href="https://www.mercomindia.com/ntpc-supply-renewable-power-greenkos" target="_blank" rel="noopener"><strong>NTPC Renewable Energy said it would supply 1.3 GW of round-the-clock (RTC) renewable energy for powering Greenko’s upcoming green ammonia plant in Andhra Pradesh’s Kakinada.</strong></a> The government-owned power producer entered a term-sheet agreement with Greenko ZeroC, the green molecule production arm of Hyderabad-based Greenko Group. The Kakinada facility is expected to add up to 1 million tons of green ammonia production capacity annually by 2027.</p>
<p><a href="https://www.mercomindia.com/enervenue-build-battery-gigafactory-in-kentucky" target="_blank" rel="noopener"><strong>EnerVenue, a California-based company specializing in metal-hydrogen batteries, plans to open a one-million-square-foot battery gigafactory in Shelby County, Kentucky</strong></a>. The project’s initial phase will focus on producing 1 GWh of batteries annually, anticipating beginning production by the end of this year. The company has committed to investing over $1 billion in subsequent phases to increase production to over 20 GWh per year across its domestic manufacturing sites. The 73-acre site facility will serve as EnerVenue’s flagship manufacturing plant for its Energy Storage Vessels.</p>
<p><a href="https://www.mercomindia.com/railways-empanelment-12-5-mw-rooftop-solar" target="_blank" rel="noopener"><strong>West Central Railway has invited bids for state-wise empanelment of agencies to implement rooftop solar projects of 12.5 MW at various locations in Jabalpur, Bhopal, and Kota zones.</strong></a> The projects would be developed in two capacity ranges— more than 10 kW and up to 100 kW, and more than 100 kW and up to 500 kW. The projects must be commissioned within 240 days of receiving the work order. The developers must also provide comprehensive operation and maintenance services for 25 years.</p>
<p><a href="https://www.mercomindia.com/jsw-energy-under-previously-agreed-deal" target="_blank" rel="noopener"><strong>JSW Neo Energy, a wholly owned subsidiary of independent power producer JSW Energy, will acquire Mytrah Energy’s 12 special purpose vehicles (SPV) within the already agreed consideration.</strong></a> The cumulative consideration for 12 SPVs stands at ₹18.2 million (~$221,024). However, the transaction value would be part of the earlier deal under which JSW Energy acquired Mytrah Energy’s portfolio of about 1.8 GW renewable energy generation capacity, comprising 17 SPVs and 1 Ancillary SPV.</p>
<p><a href="https://www.mercomindia.com/brookfield-eig-consortium-buy-origin-energy" target="_blank" rel="noopener"><strong>A consortium of Brookfield Asset Management and MidOcean Energy, the global LNG platform owned and managed by EIG, has agreed to acquire Australia-based integrated power generator and retailer Origin Energy for A$18.7 billion (~$12.5 billion).</strong></a> As part of its acquisition of Origin Energy’s Energy Markets segment, Brookfield plans to expedite the development of renewable energy generation capacity. Brookfield has formulated a business plan for Origin Energy Markets that involves investing at least $20 billion over the next ten years to construct up to 14 GW of new renewable generation and storage facilities in Australia.</p>
<p><a href="https://www.mercomindia.com/parliamentary-panel-fame-program-by-two-years" target="_blank" rel="noopener"><strong>A parliamentary committee has recommended extending the Faster Adoption and Manufacturing of Hybrid &amp; Electric Vehicles (FAME-II) program by two years beyond its current March 31, 2024, deadline.</strong></a> The panel added that it would allow more time to evaluate its effectiveness and make necessary adjustments to promote electric vehicles (EVs). The committee found that removing government support for EVs would significantly increase prices. Many startups involved in the EV industry may also have to shut down once the FAME-II program ends.</p>
<p><a href="https://www.mercomindia.com/us-japan-trade-deal-critical-minerals" target="_blank" rel="noopener"><strong>Close on the heels of a similar agreement with the European Union, the United States and Japan have agreed on a trade deal for critical minerals used in clean energy technologies.</strong></a> The contract is intended to help Japan meet sourcing requirements for new electric vehicle (EV) subsidies in the U.S. and reduce reliance on China for strategic resources.</p>
<p><a href="https://www.mercomindia.com/india-needs-renewable-capacity-by-2027" target="_blank" rel="noopener"><strong>India will need an investment of ₹14.5 trillion (~$176.6 billion) by 2027 to install a renewable generation capacity of 210 GW and a battery storage capacity of 8.6 GW/ 34.7 GWh to meet the country’s growing demand for electricity.</strong></a> Union Minister of Power R.K. Singh informed the Rajya Sabha that the government plans to add 17,500 km of transmission lines and 80,000 MVA of transmission capacity across India as part of the planned national grid expansion.</p>
<p><a href="https://www.mercomindia.com/over-200000-farmers-pm-kusum-power-minister" target="_blank" rel="noopener"><strong>The Minister of Power R.K. Singh told the Parliament that the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) program has benefited over 200,000 farmers as of February 28.</strong></a> A capacity of 89.45 MW has been installed under Component-A of the program. Approximately 209,000 pumps have been reported as installed or solarized under Component-B and Component-C.</p>


Daily News Wrap-Up: Power Ministry Seeks Comments on Draft Electricity Amendment


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2022/09/amazon_polly_42243.mp3?version=1664530003">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The Competition Commission of India has approved the acquisition of 18 subsidiaries of renewable energy company <a href="https://www.mytrah.com/">Mytrah Energy</a> by JSW Neo Energy, a wholly-owned subsidiary of <a href="https://www.jsw.in/energy" target="_blank" rel="noopener">JSW Energy</a>.</p>
<p>The agreement presents an opportunity for JSW Neo Energy to acquire an operational portfolio of 1,753 MW.</p>
<p>JSW Neo Energy was incorporated as per JSW Energy’s reorganization of its energy business into grey (thermal) and green (renewable).</p>
<p>In May this year, JSW Group had <a href="https://mercomindia.com/jsw-acquire-mytrah-for-2-billion/" target="_blank" rel="noopener">signed</a> an agreement to buy renewable energy producer Mytrah Energy in a deal worth $1.8 billion to $2 billion.</p>
<p>Hyderabad-based Mytrah has over 1.8 GW of operational assets in the renewable energy sector. The assets are spread across 17 wind farms and 21 solar projects in nine states – Punjab, Rajasthan, Gujarat, Madhya Pradesh, Maharashtra, Karnataka, Telangana, Andhra Pradesh, and Tamil Nadu.</p>
<p>Last year, JSW Energy <a href="https://mercomindia.com/jsw-sustainability-renewable-energy-generation-roadmap/" target="_blank" rel="noopener">announced</a> plans to double its power generation portfolio with renewable and hydropower-based generation sources contributing to 70% of its total capacity in the medium term.</p>
<p>The company had said that it aimed to reduce its carbon footprint by 50% by 2030 and achieve carbon neutrality by 2050.</p>
<p>Earlier this year, JSW Neo Energy <a href="https://mercomindia.com/daily-news-wrap-up-jsw-pumped-hydro-storage-project/" target="_blank" rel="noopener">signed</a> a memorandum of understanding with the Telangana government to develop the Komoram Bheem Pump Storage Project in the state. It has tied up resources for 5 GW hydro pump storage projects with the governments of various states, including Maharashtra, Chhattisgarh, Telangana, and Rajasthan.</p>
<p>Last year, many acquisitions in the Indian renewable energy space grabbed the headlines. In one such transaction, Adani Green Energy <a href="https://mercomindia.com/adani-green-acquire-sb-energys-5-gw-renewable/" target="_blank" rel="noopener">signed</a> a share purchase agreement to acquire a 100% stake in SB Energy India from Soft Bank Group (80%) and Bharti Group (20%). The transaction marked the largest acquisition in the renewable energy sector in India.</p>
<p>In 1H 2022, globally, there were 53 solar mergers and acquisitions transactions compared to 54 transactions in 1H 2021. There were 148 project acquisitions for 38 GW of solar projects compared to 136 project acquisitions of 40 GW in 1H 2021, according to Mercom’s <a href="https://mercomcapital.com/product/1h-q2-2022-solar-funding-ma-report/" target="_blank" rel="noopener">1H and Q2 2022 Solar Funding and M&amp;A Report</a>.</p>


jsw-neo-energy

Get the most relevant India solar and clean energy news.

RECENT POSTS