Strong Solar Module Sales Drive Waaree Energies’ Income Up 70% in Q2 FY 2026

NTPC Green Energy Adds 12.5 MW Solar Capacity in Gujarat

HPERC Allows Pass Through of ₹0.05/kWh Royalty on Solar Projects Above 1 MW

Germany Adds 4.3 GW Solar Capacity in Q3 2025, Up 7.8% YoY

SECI, DRDO Sign MoU for Developing 300 GW Renewable Projects

MNRE Reaffirms DCR Rules for PM KUSUM Component C Solar Projects

Jupiter Launches Containerized Battery Energy Storage Systems

Blueleaf, Jakson Reach Financial Close for 840 MW Solar Projects

Daily News Wrap-Up: SECI Announces 2 GW Solar Plus Storage Auction Winners

Textile Firm Sangam India to Source Wind-Solar Energy from Continuum


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-base-power-raises-1-billion/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Texas-based Base Power has </strong><a href="https://mercomcapital.com/base-power-raises-1-billion-in-series-c-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $1 billion in Series C funding, led by Addition, to accelerate the deployment of its home battery storage solutions.</strong> Existing backers, such as Trust Ventures, Valor Equity Partners, Thrive Capital, Lightspeed, Andreessen Horowitz, Altimeter, StepStone, Elad Gil, 137 Ventures, Terrain, and Waybury, returned for the round. New investors include Ribbit, CapitalG, Spark, BOND, Lowercarbon, Avenir, Glade Brook, Positive Sum, and 1789.</p>
<p><strong>NineDot Energy, a community-scale battery energy storage systems developer, </strong><a href="https://mercomcapital.com/ninedot-energy-secures-175-million-corporate-debt-facility/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> a $175 million revolving debt facility with Deutsche Bank.</strong> The financing will support NineDot’s full development cycle, from grid interconnection deposits to equipment procurement and project construction. This new facility also enabled the company to repay its existing revolving credit facility, which had previously been used to fund interconnection deposits with NY Green Bank.</p>
<p><strong>Enurgen, a developer of software solutions for assessing solar energy yield performance, </strong><a href="https://mercomcapital.com/enurgen-raises-4-1-million-in-seed-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $4.1 million in seed funding</strong>. The round was co-led by Business Development Bank of Canada, Brightspark, and Diagram, with participation from MaRS IAF. The company’s yield modeling software leverages physics-based models across the lifecycle of solar assets, and the investment is expected to accelerate the global expansion of Enurgen’s flagship software platform.</p>
<p><strong>Glance Finance has announced an investment of ₹3.17 million (~$35,770.19) in the power transformer solutions company, Kotsons, through the <a href="https://www.mercomindia.com/glance-finance-to-acquire-62400-shares-in-kotsons-for-%E2%82%B93-17-million" target="_blank" rel="noopener">acquisition</a> of 62,400 equity shares.</strong> Each share carries a face value of ₹10 (~$0.11) and has been acquired at a price of ₹50.85 (~$0.57)/share. Following this transaction, Glance Finance’s total shareholding in KPL will increase from 719,656 shares, representing 5.14% of KPL’s equity, to 782,056 shares, equivalent to 5.59%. The acquisition is being carried out through the secondary market and is expected to be completed by October 31, 2025.</p>
<p><strong>T1 Energy, a solar and battery manufacturing company, has <a href="https://mercomcapital.com/t1-energy-acquires-minority-stake-in-talon-pv/" target="_blank" rel="noopener">announced</a> the acquisition of a minority stake in Talon PV, a solar cell manufacturer</strong>. The investment was made through a Simple Agreement for Future Equity (SAFE), with both companies continuing to discuss the potential expansion of their strategic partnership in the future. Both Texas-based companies aim to utilize advanced manufacturing technologies to produce TOPCon solar cells in the U.S.</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://mercomindia.com/funding-and-ma-roundup-opensolar-raises-20-million-equity-funding" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Base Power Raises $1 Billion


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-flexgen-power-systems-secures-75-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>FlexGen Power Systems, an energy storage solutions and software technology provider, </strong><a href="https://mercomcapital.com/flexgen-power-systems-secures-75-million-revolving-credit-facility/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a $75 million revolving credit facility.</strong> J.P. Morgan acted as the lead arranger and administrative agent for the funding, along with commitments from Banco Santander, BNP Paribas, and First National Bank of Pennsylvania. According to the company, this funding will provide essential financial flexibility to expand its operations, strengthen its technology offerings, and meet the increasing demand for energy storage solutions globally.</p>
<p><strong>NineDot Energy, a developer of community-scale energy storage projects, </strong><a href="https://mercomcapital.com/energy-storage-developer-ninedot-energy-raises-65-million/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> a $65 million equipment financing transaction</strong>. Renewable energy finance provider First Citizens Bank led the funding. With this funding, the company plans to purchase nearly 100 MW/400 MWh of batteries for use in up to 20 battery storage projects across the New York City metro area. With this transaction, NineDot has raised over $500 million in total capital.</p>
<p><strong>Sonocharge Energy, a company that develops solutions to improve battery performance, </strong><a href="https://mercomcapital.com/sonocharge-energy-secures-23-5-million-in-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $23.5 million in funding.</strong> The funding round was led by ClimateTech venture capital firm Cycle Capital, with the participation of Honda and current investors, including Khosla Ventures, Temasek, and non-dilutive funding partners. The funding is expected to help grow the company’s team in its new location in Silicon Valley and help accelerate the commercial deployment of its solutions.</p>
<p><strong>H2 Inc., a vanadium flow battery developer and manufacturer, </strong><a href="https://mercomcapital.com/flow-battery-company-h2-inc-raises-16-million-in-bridge-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $16 million in a recent bridge funding</strong> finalized in the second half of 2024. The bridge funding brings the company’s total funding to $77 million. The round was led by STIC Investments, a private equity firm in Korea, with participation from KRUN Ventures and Lighthouse Combined Investment. The company plans to construct its new vanadium flow battery plant.</p>
<p><strong>The Indian Renewable Energy Development Agency (IREDA), a public sector company under the Ministry of New and Renewable Energy, has announced plans to </strong><a href="https://www.mercomindia.com/ireda-to-raise-%E2%82%B950-billion-through-qip-for-green-energy-growth" target="_blank" rel="noopener"><strong>raise</strong></a><strong> ₹50 billion (~$588.24 million)</strong> through a qualified institutions placement (QIP) of equity shares. The QIP will be conducted in one or more tranches per applicable laws and aims to limit the Government of India’s maximum shareholding dilution in IREDA to 7% in the post-issue paid-up equity capital.</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://mercomindia.com/funding-and-ma-roundup-moment-energy-secures-15-million" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: FlexGen Power Systems Secures $75 Million


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					</table><p><strong>Peak Energy, a sodium-ion battery manufacturer, </strong><a href="https://mercomcapital.com/peak-energy-secures-55-million-in-series-a-funding/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $55 million in a Series A funding round </strong>led by Xora Innovation, Temasek’s Early-Stage deep-tech investing platform. The company will use this funding to commercialize sodium-ion battery technology and launch a pilot program. This round also involved new investors, including Lachy Groom, Tishman Speyer, TechEnergy Ventures, Doral Energy-Tech Ventures, DETV-Scania Invest, and existing investor Eclipse and strategic partner TDK Ventures.</p>
<p><strong>The Asian Development Bank (ADB) has </strong><a href="https://www.mercomindia.com/adb-240-million-loan-rooftop-solar-india"><strong>approved</strong></a><strong> loans of $240.5 million to finance rooftop solar systems</strong> in India. The financing will be provided to the State Bank of India (SBI) and the National Bank for Agriculture and Rural Development (NABARD) to offer loans to developers and end-users for installing rooftop solar systems across India. This funding will support the second and third tranches of the Multi-tranche Financing Facility Solar Rooftop Investment Program, approved by ADB in 2016.</p>
<p><strong>NineDot Energy, a developer of community-scale clean energy projects, </strong><a href="https://mercomcapital.com/ninedot-energy-upsizes-revolving-credit-facility-to-50-million/"><strong>closed</strong></a><strong> an additional $25 million revolving credit debt facility</strong> provided by NY Green Bank, a New York State Energy Research and Development Authority division. The facility extends and increases the early-stage standalone storage financing completed by NY Green Bank last year to $50 million. The company has stated that it has secured over $400 million in total to acquire, develop, and operate battery storage sites across the New York City boroughs, Westchester County, and Long Island.</p>
<p><strong>itselectric, a provider of electric vehicle charging solutions, </strong><a href="https://mercomcapital.com/ev-charging-startup-itselectric-raises-6-5-million-in-seed-funding/"><strong>secured</strong></a><strong> $6.5 million in a seed funding round, bringing its funding total to $11.8 million</strong>. This round was led by Failup Ventures and Uber Technologies, with participation from Halogen Ventures, The Partnership Fund for NYC, Pulse Fund, Newlab, Gratitude Railroad, Tale VP, Equity Alliance Fund, LACI Impact Fund, and The Helm. The funds acquired will be used to deploy pilot EV chargers across several major U.S. cities in 2024, including Boston, Los Angeles, Detroit, Jersey City, and San Francisco.</p>
<p><strong>Electric vehicle (EV) ride-hailing startup MyPickup </strong><a href="https://www.mercomindia.com/ride-hailing-firm-mypickup-secures-%E2%82%B915-million-in-seed-funding"><strong>raised</strong></a><strong> ₹15 million (~$179,293) in seed funding led by Inflection Point Ventures (IPV).</strong> MyPickup plans to use the funds to increase its fleet size and efficiency per vehicle and develop an exclusive scheduling and route optimization algorithm, mobile application, brand building, and operations management optimization. The company operates a fleet of seven electric autorickshaws, serving 45 customers. It has been facilitating 800 rides per month and aims to penetrate large apartment complexes within a few micro markets in a city for office and school rides.</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://mercomcapital.com/funding-and-ma-roundup-naked-energy-raises-22-million/">roundup</a>.</p>


Funding and M&A Roundup: Peak Energy Secures $55 Million


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-energy-storage-developer-ninedot-raises-25-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>NineDot Energy, a developer of community-scale clean energy projects, </strong><a href="https://mercomcapital.com/energy-storage-developer-ninedot-energy-raised-25-million/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> a $25 million revolving credit debt facility</strong> provided by NY Green Bank, a division of the New York State Energy Research and Development Authority. This financing will enable NineDot Energy to build more battery storage projects that support New York’s shift to greener energy sources.</p>
<p><strong>France-based energy conglomerate TotalEnergies is </strong><a href="https://www.mercomindia.com/totalenergies-completes-full-acquisition-billion" target="_blank" rel="noopener"><strong>acquiring</strong></a><strong> full ownership of renewable energy company Total Eren</strong>. The deal follows a strategic agreement signed in 2017 between the two, which granted TotalEnergies the right to acquire the entirety of Total Eren shares after five years. With the purchase, TotalEnergies will increase its stake from approximately 30% to 100%, fully integrating Total Eren’s teams within its renewables business unit.</p>
<p><strong>Farizon Auto, the new energy commercial vehicle manufacturer established by Geely Holding Group, has </strong><a href="https://www.mercomindia.com/farizon-auto-600-million-series-a-funding" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $600 million in its Series-A funding</strong> round led by Boyu Capital and Yuexiu Industrial Fund. The influx of capital is expected to fuel Farizon’s endeavors in further research and development, ecosystem development, and global expansion. The new energy vehicles include battery-electric, plug-in hybrid, and fuel-cell electric vehicles.</p>
<p><strong>Denham Capital, a global energy transition investment firm, </strong><a href="https://www.mercomindia.com/equinor-to-acquire-brazil-2-gw-renewables-portfolio" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the signing of an agreement with Equinor</strong>, a Norway-based energy company, for the sale of Rio Energy’s select assets, the Rio Energy trade name, and the management team platform. The acquired assets include the 0.2 GW Serra da Babilônia 1 producing onshore wind farm located in the northeastern state of Bahia, a 0.6 GW pre-construction solar PV portfolio, and a project pipeline of approximately 1.2 GW.</p>
<p><strong>Energy Dome, a provider of long-duration energy storage solutions, has </strong><a href="https://mercomcapital.com/long-duration-energy-storage-solutions-provider-energy-dome-gets-16-7-million/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> the second tranche of its Series B funding</strong> round with €15 million (~$16.7 million), bringing the total amount raised in the oversubscribed round to €55 million (~$61 million). The company secured €40 million (~$44 million) in the first tranche of its Series B round earlier this year. Eni Next and Neva SGR led the round, joined by previous investors. According to Mercom Data, Energy Dome has raised $83 million so far.</p>
<p><strong>Terabase Energy, a digital solutions provider for solar power plants, </strong><a href="https://mercomcapital.com/terabase-raises-25-million-to-accelerate-its-solutions-for-solar-power-plants/" target="_blank" rel="noopener"><strong>received</strong></a><strong> $25 million in a new financing </strong>round led by Fifth Wall, with participation from EDP Ventures and existing investors. This financing round will be used to support the commercial scale-up of the company’s recently launched Terafab construction automation system.</p>
<p><strong>Group14 Technologies, a manufacturer of silicon battery technology, has </strong><a href="https://group14.technology/en/news/group14-technologies-acquires-schmid-silicon-in-milestone-european-expansion" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> Schmid Silicon Technology Holding</strong>, a silane producer based in Europe, to meet the growing demand for silicon battery technology worldwide. As part of the acquisition, Group14 will bring online Schmid Silicon’s silane factory in Spreetal (Schwarze Pumpe), Germany, to support its expanding European operations. The acquisition will ensure that Group14 has a sufficient supply of silane gas, a critical precursor for its silicon battery technology.</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/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-pvcase-raises-100-million" target="_blank" rel="noopener">roundup</a>.</p>


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