DP Cocoa Eyes ₹11 Million Power Bill Savings with Rooftop Solar Project

NLC India Invites Bids to Lease 1,500 Acres in Gujarat for Solar Projects

Odisha Proposes Ancillary Services Framework for Grid Security

IPX Power Closes $4.95 Billion Financing for Solar and Storage Projects

Energy Trading Startup Shatterdome Energy Raises $3.5M Pre-Seed Funding

Veda Solar Begins Commercial Production of Modules at 1.5 GW Surat Plant

Fujiyama to Set Up 1.2 GW Solar Cell Manufacturing Plant in Madhya Pradesh

I Squared Capital Launches $1 Billion Power Transmission Platform in India

MSMEs Gain Easier Access to Clean Energy Financing as Banks Expand Offerings

Daily News Wrap-Up: India Installs 2.7 GW Solar Open Access in Q1 2026


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					</table><p>Kerala’s residential rooftop solar market <a href="https://www.mercomindia.com/kerala-begins-shifting-toward-solar-plus-storage-as-rooftop-market-matures" target="_blank" rel="noopener">saw</a> a strong demand for solar-plus-storage systems over the past year. Consumers who previously chose standard grid-connected rooftop solar systems are now showing interest in adding battery storage. Installers report that consumers are exploring hybrid systems to understand whether storage can help them meet their backup needs amidst rising household electricity demand.</p>
<p>The Grid Controller of India (GRID-India) <a href="https://www.mercomindia.com/grid-india-flags-severe-frequency-oscillation-at-3-16-gw-rajasthan-re-complex" target="_blank" rel="noopener">flagged</a> a sustained frequency oscillation event in the Bhadla-Bikaner-Fatehgarh renewable energy complex in Rajasthan earlier this month. The event occurred between 10:26 AM and 10:40 AM on May 11, 2026, during which oscillations in voltage, active power, and reactive power were recorded across seven renewable energy projects with a cumulative capacity of 3,168 MW.</p>
<p>The Tamil Nadu Electricity Regulatory Commission <a href="https://www.mercomindia.com/tamil-nadu-issues-draft-regulations-to-determine-sldc-fees-and-charges" target="_blank" rel="noopener">issued</a> draft regulations to determine the fees and charges for the state load dispatch center. Stakeholders must submit their feedback on the draft Tamil Nadu Electricity Regulatory Commission (Determination of State Load Despatch Center Fees and Charges) Regulations, 2026, by May 29, 2026.</p>
<p>In an exclusive interview with Mercom India, Amod Anand, Co-founder and Director at Loom Solar, a solar panel, inverter, and lithium battery manufacturer, <a href="https://www.mercomindia.com/solar-cell-manufacturers-need-transition-window-to-bridge-supply-interview" target="_blank" rel="noopener">called</a> for a short transition window instead of an outright postponement of the ALMM for solar cells. He also shared his company’s evolution from a D2C rooftop solar brand to a comprehensive energy company, and plans for the future.</p>
<p>India is <a href="https://www.mercomindia.com/indias-solar-hour-peaks-hold-but-evening-power-gaps-challenges" target="_blank" rel="noopener">meeting</a> new energy peaks during the day this summer, but come sundown, power shortages are becoming more frequent. Consider this: On May 19, 2026, at 3.40 PM, energy demand surged to a new high of 260.45 GW and was met with no shortage. Coal-based thermal power contributed the most to meeting demand, at over 162 GW. Renewables followed with 74 GW (solar 57 GW and wind 17 GW), with hydroelectric and nuclear making up the rest.</p>
<p>MAHAGENCO Renewable Energy <a href="https://mercomindia.com/mahagenco-rel-issues-consultancy-tender-for-200-mw-solar-storage-projects" target="_blank" rel="noopener">invited</a> bids for consultancy and project management services for eight grid-connected solar power projects of 25 MW each, along with battery energy storage systems in Maharashtra. The projects will have a combined solar capacity of 200 MW.</p>
<p>The Department of Atomic Energy <a href="https://www.mercomindia.com/atomic-energy-department-tenders-2-mw-rooftop-solar-project-in-rajasthan" target="_blank" rel="noopener">invited</a> bids for the design, supply, installation, testing, and commissioning of 2 MW of rooftop solar systems, along with five years of comprehensive maintenance, at the Nuclear Fuel Complex in Rawatbhata, Rajasthan. The last date to submit bids is June 10, 2026. Bids will be opened on June 12.</p>
<p>Gwalior Municipal Corporation <a href="https://www.mercomindia.com/gwalior-municipal-corporation-invites-bids-for-2-mw-solar-project" target="_blank" rel="noopener">invited</a> bids to set up a 2 MW ground-mounted solar system at Manpur, Madhya Pradesh. The last date to submit bids is June 19, 2026. Bids will open on June 22. The scope of work covers the design, engineering, procurement, supply, erection, and commissioning of the project. It also entails comprehensive operations and maintenance services for 10 years following a 2-year defect liability period.</p>
<p>Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II (GMF II), and British International Investment (BII) <a href="https://mercomindia.com/cip-bii-launch-300-million-india-renewable-energy-platform" target="_blank" rel="noopener">announced</a> the launch of North Star, a $300 million (~₹28.86 billion) renewable energy platform in India. BII and CIP will each commit up to $150 million (~₹14.43 billion) to the platform and crowd in additional private capital.</p>


Daily News Wrap-Up: Storage Gains Ground in Kerala’s Residential Rooftop Solar


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					</table><p>India has mandated the use of India-made solar cells in solar projects from June 1, 2026, under the Approved List of Models and Manufacturers (ALMM) to boost domestic solar manufacturing. While the policy initiative has been welcomed, the industry fears a near-term shortage of cells.</p>
<p>In this exclusive interview with Mercom India, Amod Anand, Co-founder and Director at <a href="https://www.loomsolar.com/" target="_blank" rel="noopener">Loom Solar</a>, a solar panel, inverter, and lithium battery manufacturer, called for a short transition window instead of an outright postponement of the ALMM for solar cells. He also shared his company’s evolution from a D2C rooftop solar brand to a comprehensive energy company, and plans for the future.</p>
<p><strong>Loom Solar has evolved from a distributor-to-consumer brand to a developer of utility-scale projects. How are your solar manufacturing and battery energy storage system plans progressing?</strong></p>
<p>Loom Solar&#8217;s journey has been about building depth, not just scale. We started as a D2C rooftop solar brand and have since evolved into a comprehensive energy company with a presence across manufacturing, utility-scale project development, and energy storage.</p>
<p>On the module manufacturing side, we are investing in next-generation technologies—TOPCon is our near-term priority, with HJT and Back Contact modules in our medium-term roadmap. These technologies offer significantly better efficiency and lower degradation, which directly improves returns for our customers.</p>
<p>For BESS, we are expanding our lithium-ion battery manufacturing capacity, with a focus on applications in peak load management, telecom infrastructure, railway systems, and commercial backup power. Our vision is to offer a complete energy ecosystem that seamlessly integrates generation and storage rather than treating them as separate business lines.</p>
<p><strong>Does Loom Solar have plans for backward integration into ingots and wafers? Are you exploring overseas markets for solar modules?</strong></p>
<p>Backward integration into cells, wafers, and ingots is a strategic direction we are actively evaluating. India needs a fully integrated solar manufacturing value chain to reduce dependence on imports and build long-term competitiveness. The current scenario, in which a large share of the industry depends on imported cells, is a structural vulnerability that policy and industry must address together.</p>
<p>On exports, there is a genuine and growing appetite for high-efficiency Indian-made modules in markets across Asia, Africa, and parts of Europe. Indian manufacturers who invest in quality, technology, and certifications are well-positioned to capture this demand. For us, exports are a strategic priority, though scaling them meaningfully requires achieving the right combination of volume, technology parity, and international certification compliance. We are building toward that.</p>
<p><strong>How prepared is India&#8217;s solar manufacturing ecosystem for ALMM List-II for cells from June 1, 2026?</strong></p>
<p>India has built substantial module manufacturing capacity, but the cell manufacturing ecosystem is still catching up. The honest assessment is that there will be a near-term demand-supply gap when ALMM List-II for cells becomes operational. Domestic cell capacity is not yet sufficient to fully replace imports for the scale of projects in the pipeline that align with domestic content requirements.</p>
<p>That said, ALMM List-II is fundamentally the right policy direction. The policy sends a strong signal to investors and developers that domestic cell manufacturing will be rewarded. What the industry needs now is accelerated access to financing, technology transfer partnerships, and a calibrated implementation timeline that gives manufacturers adequate runway. The goal of self-reliance is non-negotiable; the path must be realistic.</p>
<p><strong>How much of Loom Solar&#8217;s module production currently depends on imported cells, and how quickly can that shift to domestic?</strong></p>
<p>Like most module manufacturers in India, a portion of our cell procurement has historically been imported, specifically from Southeast Asia. The shift to domestic cells is underway, but the pace is constrained by the availability of domestically produced cells that meet the technology and quality specifications we need for our module lines.</p>
<p>We are actively aligning our sourcing strategy with domestic cell suppliers and are evaluating opportunities in cell manufacturing ourselves. The transition will not happen overnight, but it is directionally clear. Solar cell manufacturing is a strategic priority for Loom Solar&#8217;s long-term roadmap.</p>
<p><strong>For manufacturers like Loom Solar, is the challenge more about cell availability, pricing, technology compatibility, or certification timelines?</strong></p>
<p>It is a combination of all four, and they compound each other. Cell availability remains the most immediate constraint. There simply is not enough domestic supply of the right cell types to meet module manufacturing demand at scale. Pricing volatility adds to uncertainty; import-dependent supply chains are exposed to currency fluctuations and geopolitical disruptions.</p>
<p>Technology compatibility is a growing concern as the industry transitions from PERC to TOPCon and, eventually, HJT. Module manufacturers who upgrade their lines need cells that match these specifications, and not all domestic producers are there yet. Finally, certification timelines for new cell and module combinations introduce delays that are painful in a market with firm project deadlines. Addressing these challenges requires coordinated action between manufacturers, testing agencies, and policymakers.</p>
<p><strong>Do you think a postponement of the ALMM-II mandate is desirable?</strong></p>
<p>The intent behind ALMM-II is sound, and the solar industry broadly supports the government&#8217;s push toward domestic manufacturing. However, policy timelines must reflect the ground reality of supply readiness. If ALMM-II is enforced before sufficient domestic cell capacity is available, it risks creating supply blockages that could stall ongoing solar projects and delay India&#8217;s renewable energy capacity additions. This would be counterproductive to the overall energy transition goal.</p>
<p>A short transition window or phased implementation, rather than an outright postponement, may be the more pragmatic approach. This would allow the industry to continue scaling cell manufacturing while ensuring that project pipelines are not disrupted. The long-term objective of a robust, domestically anchored solar value chain must remain unchanged.</p>
<p><strong>What are your prescriptions for bridging the skilled labor gap in solar manufacturing?</strong></p>
<p>Skilled labor is fast becoming one of the most critical constraints for scaling solar manufacturing in India. The sector needs technicians and engineers trained in automation, robotics, quality control, battery chemistry, and advanced module production. These are skills that most academic programs have not yet incorporated on a meaningful scale.</p>
<p>The solution requires a three-way partnership between government, educational institutions, and industry. Polytechnics and engineering colleges need to update curricula in consultation with manufacturers, and factory exposure through structured internship programs should become mandatory rather than optional. Industry-backed solar skill development centers co-located with manufacturing clusters in Rajasthan, Uttar Pradesh, and Gujarat can serve as practical training hubs. Government certification programs for solar manufacturing and installation professionals will add credibility and create career pathways.</p>
<p><strong>How do you see solar module and cell technologies evolving over the short to medium term?</strong></p>
<p>TOPCon is rapidly becoming the new baseline, replacing PERC as the mainstream technology. It offers meaningfully higher efficiency at 22-23% at the module level and with lower degradation and better performance in high-temperature conditions, which is especially relevant for Indian climate zones. We expect TOPCon to dominate new capacity additions over the next two to three years.</p>
<p>Beyond TOPCon, HJT and Back Contact technologies represent the next performance frontier. These are more capital-intensive to manufacture but offer efficiency levels exceeding 25%, with significantly lower temperature coefficients. Over the medium term, we expect solar-plus-storage to become the default project architecture, with AI-enabled monitoring and energy management becoming standard across utility and commercial installations. The overarching trend is toward systems that produce more energy per installed unit, at a lower levelized cost. India&#8217;s manufacturers who invest in this direction now will have a durable competitive advantage.</p>
<p><strong>What suggestions do you have to accelerate installations under PM Surya Ghar: Muft Bijli Yojana?</strong></p>
<p>PM Surya Ghar is one of the most impactful residential solar programs India has launched, and it has significantly raised public awareness about rooftop solar. The demand is real and growing. The challenge is converting that awareness into completed installations quickly and consistently.</p>
<p>The most important lever is faster subsidy processing. Delays between application approval and disbursement erode consumer confidence and create cash flow challenges for installers. Alongside this, DISCOM net metering approvals need to be standardized and time-bound. The process varies widely across states and is often the single biggest bottleneck. Easier access to consumer financing, including dedicated loan products at preferential rates for middle-class households, will bring a large segment of potential adopters into the program.</p>
<p>Finally, standardizing quality across the installer ecosystem is essential; inconsistent installation quality risks undermining the program&#8217;s credibility. India has enormous rooftop potential, and PM Surya Ghar has the architecture to unlock it. Execution speed and process simplification will determine how much of that potential is realized.</p>


Solar Cell Manufacturers Need Transition Window to Bridge Supply Gap: Interview


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					</table><p>Foraying into utility-scale projects, Haryana-based solar energy solutions company <a href="https://www.loomsolar.com/?srsltid=AfmBOoq9QhGmAZwoEJa5hBVrpwiDWY7rmqK_dwwOUhBlmaVMlNQn_uMx" target="_blank" rel="noopener">Loom Solar</a> has commissioned 17.9 MW of solar projects across India.</p>
<p>The projects include an 8 MW project in Tamil Nadu, a 5.3 MW project in Madhya Pradesh, a 1.1 MW project in Uttarakhand, and a 3.5 MW project in Rajasthan.</p>
<p>The company also announced its strategy to address the growing demands of the utility-scale market by integrating battery energy storage solutions with large-scale solar arrays.</p>
<p>Its strategy is underscored by the <a href="https://www.mercomindia.com/india-added-48-4-mwh-of-energy-storage-capacity-in-1h-2025" target="_blank" rel="noopener">growing</a> demand for battery energy storage systems (BESS) in India. According to Mercom’s India’s Energy Storage Landscape 1H 2025 Report, India’s cumulative installed energy storage capacity reached 490 MWh by the end of June 2025.</p>
<p>Loom Solar manufactures modules using mono-passivated emitter and rear cell, tunnel oxide passivated contacts, and heterojunction technologies. It also provides on-grid inverters, hybrid inverters (ranging from 5 kW to 100 kW), and BESS, targeting rural India and tier two and three markets.</p>
<p>The company provides comprehensive clean energy solutions for the residential, commercial, and agricultural sectors.</p>
<p>Loom Solar plans to establish a 1.2 GW solar module factory, a 100 MW inverter manufacturing facility, and another 100 MW BESS manufacturing facility.</p>
<p>In an interview on the sidelines of the Mercom India Renewables Summit 2025 <a href="https://www.mercomindia.com/power-rural-commercial-customers-with-need-based-solutions" target="_blank" rel="noopener">held</a> in New Delhi on July 24 and 25, 2025, Amod Anand, CEO at Loom Solar, stated that his company’s focus is on serving customers in rural or semi-urban areas, who often face challenges with access to technology and financing.</p>
<p>According to data from the Central Electricity Authority, the Ministry of New and Renewable Energy, and Mercom’s India Solar Project Tracker, solar power <a href="https://www.mercomindia.com/renewable-energy-capacity-in-indias-power-mix-reaches-48-3-in-q2-2025" target="_blank" rel="noopener">accounted</a> for 24% of the total installed power capacity and 49.7% of the total installed renewable capacity as of June 2025.</p>
<p>According to Mercom India Research, utility-scale solar auctions in India <a href="https://www.mercomindia.com/indias-utility-scale-solar-tender-and-auction-activity-plunge-in-q2-2025" target="_blank" rel="noopener">fell</a> sharply in the second quarter of 2025, with only 1.6 GW of utility-scale solar projects being auctioned in the quarter, a steep 74.1% drop from 6.4 GW from the previous quarter and a 75.2% decline from the same quarter in 2024.</p>


Loom Solar Commissions 17.9 MW Utility-Scale Solar Projects in Four States


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					</table><p>Coal India <a href="https://mercomindia.com/coal-india-floats-epc-tender-for-3-gw-solar-projects-across-india" target="_blank" rel="noopener">floated</a> an engineering, procurement, and construction (EPC) tender to set up 3,000 MW grid-connected solar projects anywhere in India on a turnkey basis. Bids must be submitted by September 16, 2025. Bids will be opened on the same date. The projects are proposed in Andhra Pradesh, Tamil Nadu, Karnataka, Rajasthan, and Madhya Pradesh. The scope of work entails the design, engineering, supply and procurement, construction, erection, testing, and commissioning of the solar projects. It also involves providing operation and maintenance services.</p>
<p>In an interview on the sidelines of the Mercom India Renewables Summit 2025 <a href="https://www.mercomindia.com/power-rural-commercial-customers-with-need-based-solutions" target="_blank" rel="noopener">held</a> in New Delhi on July 24 and 25, 2025, Amod Anand, CEO at Loom Solar, said his company’s focus is on serving customers in rural or semi-urban areas who often face challenges with access to technology and financing.</p>
<p>The West Bengal Green Energy Development Corporation <a href="https://www.mercomindia.com/west-bengal-invites-bids-for-1-5-mw-rooftop-solar-project" target="_blank" rel="noopener">issued</a> a tender for a 1.5 MW grid-connected rooftop solar project at Kalyani Layer Farm, Kalyani, Nadia district, West Bengal. The estimated cost of the project is ₹93.8 million (~$1.09 million). Bids must be submitted by September 19, 2025. Bids will be opened on September 22. The scope of work encompasses design, manufacturing, testing, supply, commissioning, and reliability testing of the rooftop solar project, as well as operation and maintenance for five years. The project must be completed within 120 days from the date of site handover.</p>
<p>Chhattisgarh State Renewable Energy Development Agency <a href="https://www.mercomindia.com/chhattisgarh-invites-bids-to-set-up-1-3-mw-rooftop-solar-projects" target="_blank" rel="noopener">issued</a> a request for selection to set up grid-connected rooftop solar projects with a cumulative capacity of 1.3 MW at two hospitals in Raigharh, Chhattisgarh, under the renewable energy service company model. The projects must be installed at the Late Shri Lakhi Ram Agrawal Memorial Medical College and the Late Shri Lakhi Ram Agrawal Memorial Hospital. The capacity will be split equally between the two hospitals. Bids must be submitted by September 22, 2025. Bids will be opened on September 23. The scope of work entails the design, supply, erection, testing, and commissioning of the solar projects. It also includes providing operation and maintenance services for 25 years.</p>
<p>Adani Renewable Energy Fifty-Six, a subsidiary of Adani Green Energy (AGEL), <a href="https://www.mercomindia.com/adani-green-energy-commissions-125-mw-solar-capacity-in-gujarat" target="_blank" rel="noopener">operationalized</a> an incremental solar power project of 125 MW at Khavda, Gujarat. With the addition of this capacity, AGEL’s total operational renewable generation portfolio has reached 15,990.5 MW. The solar project is part of AGEL’s ongoing capacity additions in Gujarat. The operationalization contributes to its overall capacity mix, which spans solar, wind, and hybrid renewable energy projects across multiple states.</p>
<p>Surat-based renewable energy solutions provider KPI Green Energy’s board of directors <a href="https://www.mercomindia.com/kpi-green-to-raise-%E2%82%B96-7-billion-through-green-bonds-issue#:~:text=Surat%2Dbased%20renewable%20energy%20solutions,private%20placement%20to%20eligible%20investors." target="_blank" rel="noopener">approved</a> the issuance of ₹6.7 billion (~$76.05 million) in secured, listed, rated, senior, redeemable, transferable, non-convertible certified green bonds through a private placement to eligible investors. The bonds will be issued in one or more tranches in dematerialized form and listed on the Negotiated Trade Reporting Platform under the New Debt Market Segment of the National Stock Exchange of India. They carry a coupon rate of 8.5% per annum and a tenure of 60 months from the deemed date of allotment.</p>
<p>Solar module manufacturer Waaree Energies <a href="https://www.mercomindia.com/waaree-to-buy-64-stake-in-power-transformer-firm-kotsons" target="_blank" rel="noopener">acquired</a> a 64% equity stake in Rajasthan-based power transformer solutions company Kotsons for ₹1.92 billion (~$21.79 million). Waaree’s board of directors approved the company’s share subscription and shareholders’ agreements for the acquisition of 25.6 million shares costing ₹75 (~$0.85) per share at a face value of ₹10 (~$0.11) each. Post acquisition, Kotsons will become Waaree’s subsidiary.</p>
<p>Solar glass manufacturer Borosil Renewables <a href="https://www.mercomindia.com/borosil-renewables-reports-7-yoy-dip-in-revenue-in-q1-fy-2026" target="_blank" rel="noopener">reported</a> revenue of ₹3.46 billion (~$39.4 million) for the first quarter of the financial year 2026, a 7% year-over-year decrease from ₹3.71 billion (~$42.2 million). The company posted a net loss of ₹2.03 billion (~$23.1 million) for the quarter, an increase of 1,329% from the same period last year. The loss was primarily due to a ₹2.22 billion (~$25.3 million) impairment charge following the insolvency of its German subsidiary, GMB Glasmanufaktur Brandenburg. Loss per share for the quarter stood at ₹1.86 (~$0.021), compared to ₹0.99 (~$0.011) in the same quarter of the previous year.</p>


Daily News Wrap-Up: Coal India Floats EPC Tender for 3 GW Solar Projects


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					</table><p>In an interview on the sidelines of the  <a href="https://www.mercomindia.com/event/renewables-summit-2025" target="_blank" rel="noopener">Mercom India Renewables Summit 2025</a> held in New Delhi on July 24 and 25, 2025, Amod Anand, CEO at <a href="https://www.loomsolar.com/" target="_blank" rel="noopener">Loom Solar</a>, said his company’s focus is on serving customers in rural or semi-urban areas who often face challenges with access to technology and financing.</p>
<p><strong>Can </strong><strong>you tell us about the solar services and products that Loom Solar offers?</strong></p>
<p>Loom Solar started seven years ago as a solar panel company. We have now expanded into modules featuring mono PERC, TOPCon, and HJT technology. We also provide on-grid inverters, hybrid inverters (ranging from 5 kW to 100 kW), and battery energy storage systems (BESS) targeted towards rural India and tier two to three markets.</p>
<p>Our focus is on delivering need-based solutions for areas where access to such technology is limited and affordability is a challenge. From day one, our goal has been to introduce new technologies to the Indian market, particularly in rural and semi-urban areas, offering comprehensive solar solutions to end-users.</p>
<p><iframe loading="lazy" title="Interview with Amod Anand, CEO, Loom Solar" src="https://player.vimeo.com/video/1109282208?h=56ad886592&amp;badge=0&amp;autopause=0&amp;player_id=0&amp;app_id=58479" width="100%" height="500" frameborder="0"><span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start">﻿</span><span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start">﻿</span></iframe></p>
<p><strong>Most of your projects are on the residential side. How does your business model work with respect to the domestic content requirement (DCR) and non-DCR modules?</strong></p>
<p>Yes, a large part of our work is in the residential segment. But our model is not just about DCR or non-DCR modules; it is about identifying and solving key market challenges. We research common issues in rural and semi-urban markets, create educational content, and develop solutions accordingly.</p>
<p>For example, many rural customers use solar energy for applications like poultry farms or to power motors. We design systems to run these efficiently, integrating DCR or non-DCR panels as needed. We focus on “rural commercial” customers, people living in rural India who run small businesses, and we also help them with financing, which is often a big barrier.</p>
<p><strong>Have you seen an increase in demand for energy storage systems in these markets?</strong></p>
<p>Yes, a new trend is emerging. For example, in the Delhi-National Capital Region, generator use is restricted due to regulations, creating opportunities for solar plus storage solutions as alternatives. Our goal is to replace gensets with solar panels plus battery backup, which can power critical appliances for one to four hours. This applies to hospitals, hotels, rural factories, and roadside businesses. New battery systems are becoming 100% reliable, and their costs are falling each year. We expect them to become mass-market products within two to three years.</p>
<p><strong>Apart from inverters, energy storage systems, and modules, do you manufacture any other products?</strong></p>
<p>We started with solar panel manufacturing and are now setting up a 1.2 GW HJT panel line, a 100 MW inverter line, and a 100 MW BESS manufacturing unit. In the past, we relied on suppliers to meet our demand, around 1,000 MW, but faced challenges with quality, consistency, and reliability. Now, with sufficient capital, we are transitioning into manufacturing to provide complete solutions with long warranties.</p>


We Must Power Rural Commercial Customers with Need-Based Solutions: Interview


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					</table><p>Haryana-based solar technology startup <a href="https://www.loomsolar.com/" target="_blank" rel="noopener">Loom Solar</a> raised $2 million in funding from the U.S.-based asset manager Social Investment Managers and Advisors (<a href="https://simafunds.com/" target="_blank" rel="noopener">SIMA Funds</a>) to support its growth strategy for solar energy solutions.</p>
<p>Loom manufactures bifacial solar panels and lithium batteries. The company said that its clean solutions currently power more than 50,000 homes across India.</p>
<p>The startup claims to be developing an ecosystem for residential customers to access better technology and quick finance to make solar energy more affordable.</p>
<p>The fundraising activity was supported by the World Bank Group, Development Finance Corporation,  British International Investment, and Dutch development bank FMO.</p>
<p>Director of Loom Solar Amod Anand said, “As we are significantly scaling our portfolio to provide energy access and provide green energy solutions to communities propelling economic growth, reducing carbon emissions, and improving environmental sustainability, the funding support from Social Investment Managers and Advisors is timely. We have successfully delivered clean power to thousands of customers across residential, commercial, and industrial sectors in India, and we look forward to working in the same direction by bringing more efficient green energy solutions in times to come.”</p>
<p>“Loom Solar is one of the fast-growing companies in India in the solar manufacturing space. It has clearly distinguished itself through products, processes, and services. As Loom Solar has been overcoming the disruptions caused by COVID in the supply chain and is steering through the recent changes in import duty that slowed down the market briefly, we believe that EARF support from SIMA can make Loom Solar be more resilient to achieve its energy access goals,” commented Arivazhagan G D, partner at SIMA.</p>
<p>In 2021, SIMA <a href="https://mercomindia.com/sima-launches-energy-access-relief-fund-solar/" target="_blank" rel="noopener">launched</a> the Energy Access Relief Fund with a first close of $68 million and a target closing of around $84 million by the end of the year. The fund aimed to support off-grid solar companies in sub-Saharan Africa and Asia.</p>
<p>In the same year, the Green Climate Fund <a href="https://mercomindia.com/green-climate-fund-137-million-investment-india/" target="_blank" rel="noopener">approved</a> FMO’s proposal to accelerate private and public sector investment in India’s green infrastructure projects.</p>


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