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					</table><p>The West Bengal Renewable Energy Development Agency <a href="https://www.mercomindia.com/west-bengal-floats-tender-for-10-mw-rooftop-solar-projects" target="_blank" rel="noopener">issued</a> a request for proposal to set up rooftop solar projects with a cumulative capacity of 10 MW across multiple districts in the state. Bids must be submitted by August 14, 2025. Bids will be opened on August 18. The scope of work includes the design, procurement, engineering, supply, installation, commissioning, testing, net metering assistance, and documentation.</p>
<p>Kolkata-based heavy engineering and rail infrastructure company Texmaco Rail &amp; Engineering (Texmaco) <a href="https://www.mercomindia.com/texmaco-rail-turns-to-solar-expects-to-slash-energy-bills-by-40" target="_blank" rel="noopener">decided</a> to lower its reliance on grid energy by switching to solar; it was not just ticking another box on sustainability. As Indrajit Mookerjee, Vice Chairman and Executive Director at Texmaco, put it, the solar initiative was a “bold and forward-looking step in redefining how Indian industry powers its future.” Texmaco recently commissioned a 10 MW open access group captive solar project in Raipur, Chhattisgarh, in partnership with AMPIN Energy Transition. The project is expected to generate over 15 million units of clean energy annually for Texmaco’s Raipur operations.</p>
<p>Surat-based private equity and venture investment firm Parishi Capital <a href="https://www.mercomindia.com/parishi-invests-%E2%82%B94-7-million-in-navitas-for-2-5-gw-solar-module-plant" target="_blank" rel="noopener">invested</a> $4.7 million (~₹404.8 million) in Navitas Solar to expand its solar module manufacturing plant in Ahmedabad, Gujarat, to a 2.5 GW capacity. The transaction was completed in two tranches, with the first tranche of funding raised in 2023. Navitas, which previously had a manufacturing capacity of 1.7 GW, plans to raise funds from Parishi through a third round to establish a 3 GW solar cell manufacturing plant by 2026. Navitas offers services in solar module and ethylene-vinyl acetate sheet manufacturing. It also provides services under the engineering, procurement, and construction and renewable energy service company models.</p>
<p>The International Finance Corporation (IFC) <a href="https://www.mercomindia.com/ifc-to-invest-20-million-in-ev-platform-transvolt-mobility" target="_blank" rel="noopener">announced</a> a $20 million equity investment in Mumbai-based electric vehicle (EV) platform Transvolt Mobility (Transvolt), as part of a $50 million financing round. IFC said the investment will help enhance access to quality urban transport, scale up EV production, and strengthen India’s electric mobility ecosystem. This equity investment is IFC’s first in an EV platform. Transvolt aims to utilize the investment to scale its electric fleet portfolio to 3,500 vehicles and create 8,200 jobs over the coming five years. The company also plans to deploy 8,000 heavy commercial EVs, such as buses and trucks, across India.</p>
<p>Lucknow-based solar solutions provider True Power <a href="https://www.mercomindia.com/true-power-forays-into-solar-module-manufacturing-with-a-1-gw-plant" target="_blank" rel="noopener">announced</a> it will establish a 1 GW solar module manufacturing plant in Barabanki, Uttar Pradesh, with an investment of ₹1 billion (~$11.6 million). The plant is expected to be commissioned within six months. The fully automated facility will produce tunnel oxide passivated contact modules. True Power manufactures earthing components and solar mounting structures. The mounting structures utilize galvanized and pre-galvanized iron materials for solar panels. The company also offers a ground-mounted, dual-axis solar pumping structures. The solar mounting structures are designed for both rooftop and ground-mounted solar power projects.</p>
<p>India had a record year for renewable energy capacity <a href="https://www.mercomindia.com/tackling-roadblocks-to-accelerate-renewable-project-growth-in-india" target="_blank" rel="noopener">additions</a> in 2024, with solar alone contributing 25.2 GW. For renewable energy to grow at a faster pace and the country to reach its 2030 clean energy goals, policy and regulatory uncertainty, supply chain limitations, transmission infrastructure shortages, and market volatility must be overcome. These issues will be discussed in depth at the fifth edition of the Mercom India Renewables Summit, set to take place on July 24-25, 2025, at the Hyatt Regency, New Delhi. A key session during the summit on July 25, titled “Scaling Renewable Projects: Overcoming Challenges for Timely Execution,” will address the challenges faced by renewable power generators as they attempt to increase the country’s renewable energy capacity and ensure timely project completion.</p>
<p>The U.S. Department of Commerce <a href="https://www.mercomindia.com/us-slaps-93-5-anti-dumping-tariff-on-chinese-anode-graphite-imports" target="_blank" rel="noopener">imposed</a> a preliminary weighted-average dumping margin of 93.5% on imports of active anode-grade graphite material from China, following an investigation into unfair trade practices. Anode-grade graphite is a vital component in electric vehicle battery manufacturing. The decision stems from an anti-dumping and countervailing duty petition filed by the American Active Anode Material Producers, a coalition of five U.S.-based firms: Anovion Technologies, Syrah Technologies, NOVONIX Anode Materials, Epsilon Advanced Materials, and SKI US. In May, Commerce had determined preliminary countervailing duties of up to 721% on imports of active anode material from China.</p>
<p>The California Senate Energy, Utilities, and Communications Committee <a href="https://www.mercomindia.com/california-amends-bill-to-protect-residential-solar-net-metering-contracts" target="_blank" rel="noopener">amended</a> Assembly Bill 942, which affects the rates residential solar owners pay when selling their homes or properties. The bill has been amended to maintain net metering agreements for solar consumers and remove discriminatory language that would deny cap-and-trade climate credits to solar consumers. Previously, consumers purchasing a property with an existing solar system would have to switch their net metering tariff to the current one, rather than inheriting the previous owner’s tariff. In its original form, AB 942 would have ended net metering agreements after ten years or when solar users sell or transfer their home or property. The ten-year limit has now been removed from the bill.</p>


Daily News Wrap-Up: West Bengal Tenders 10 MW Rooftop Solar Projects


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					</table><p>Surat-based private equity and venture investment firm <a href="https://parishicapital.com/" target="_blank" rel="noopener">Parishi Capital</a> has invested $4.7 million (~₹404.8 million) in <a href="https://navitassolar.in/" target="_blank" rel="noopener">Navitas Solar</a> to expand its solar module manufacturing plant in Ahmedabad, Gujarat, to a 2.5 GW capacity.</p>
<p>The transaction was completed in two tranches, with the first tranche of funding <a href="https://www.mercomindia.com/solar-module-navitas-raises-5-million-in-funding" target="_blank" rel="noopener">raised</a> in 2023.</p>
<p>Navitas, which had a manufacturing capacity of 1.7 GW earlier, plans to raise funds from Parishi via a third round to establish a 3 GW solar cell manufacturing plant by 2026.</p>
<p>Navitas offers services in solar module and ethylene-vinyl acetate sheet manufacturing. It also provides services under the engineering, procurement, and construction and renewable energy service company models.</p>
<p>Parishi Capital plans to invest $10 million (~₹861.47 million) to $15 million (~₹1.29 billion) in renewable energy projects, including recycling companies, over the next two years.</p>
<p>Besides Navitas, Parishi Capital has invested in multiple renewable energy companies, including Solnce, Apollo Green, Vikram Solar, BatX Energy, and Zero Circle.</p>
<p>It has completed investments in over 80 companies and manages assets exceeding $43 million (~₹3.7 billion).</p>
<p>According to Mercom’s State of Solar PV Manufacturing in India 2025 report, India <a href="https://www.mercomindia.com/almm-strong-demand-drive-indias-solar-panel-manufacturing-capacity-to-25-3-gw-in-2024" target="_blank" rel="noopener">added</a> 25.3 GW of solar module capacity and 11.6 GW of solar cell capacity in 2024. The manufacturing capacity additions in 2024 were primarily driven by demand from the solar project pipeline and the reimposition of the Approved List of Models and Manufacturers order from April 2024.</p>
<p>Total global corporate funding for the solar sector <a href="https://www.mercomindia.com/corporate-solar-funding-declines-39-yoy-amid-policy-uncertainties" target="_blank" rel="noopener">dropped</a> by 39% year-over-year to $10.8 billion in the first half of 2025 from $17.6 billion, according to Mercom India’s 1H and Q2 2025 Solar Funding and M&amp;A Report. The number of deals also decreased by 11% to 78 deals from 88 during the same period last year. The report attributed the dip in solar funding to policy uncertainties in the U.S., stemming from regulatory shifts under the Trump administration.</p>


Parishi Invests ₹4.7 Million in Navitas for 2.5 GW Solar Module Plant

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