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>The Tamil Nadu Electricity Regulatory Commission <a href="https://www.mercomindia.com/tamil-nadu-rpo-rco-target-fy30" target="_blank" rel="noopener">set</a> a target of meeting 43.33% of its energy requirements from renewable sources by the financial year 2030.  The wind renewable energy component must be met through energy produced from wind projects commissioned after March 31, 2024. The hydro renewable energy component must be met from hydropower projects, including pump storage projects and small hydro projects commissioned after March 31, 2024. It may also be met from the free power provided to the state or power distribution licensee from hydro power projects commissioned after March 31, 2024, or from hydro power projects located outside India, as approved by the central government on a case-by-case basis.</p>
<p>The Gujarat Electricity Regulatory Commission <a href="https://www.mercomindia.com/gujarat-ending-separate-connectivity-agreement-surya-ghar" target="_blank" rel="noopener">proposed</a> removing the requirement for a separate written connectivity agreement between the distribution licensee (DISCOM) and the consumer for rooftop solar systems installed under the PM Surya Ghar: Muft Bijli Yojana. Instead, the agreement would automatically come into force on the project’s commissioning date, with DISCOMs required to issue consumers a receipt-backed acknowledgment stating the agreement start date and the applicable surplus power purchase rate. Four state-owned DISCOMs had filed a petition seeking a waiver of the interconnection agreement for rooftop solar systems under the PM Surya Ghar program.</p>
<p>The Ministry of Railways <a href="https://www.mercomindia.com/railways-invites-bids-for-2-9-mw-rooftop-solar-projects-in-delhi-division" target="_blank" rel="noopener">invited</a> bids for setting up 2.9 MW rooftop solar projects across various stations, service buildings, residential complexes, and level crossing gates in the Delhi Division. Bids must be submitted by November 4, 2025. Bids will be opened on the same day. The scope of work includes the complete design, supply, installation, testing, and commissioning of on-grid solar systems. These systems must be equipped with solar modules, mild steel hot-dipped galvanized mounting structures, suitable power conditioning units, array and main junction boxes, AC and DC distribution boards with switchgear, armored power and control cables, remote data monitoring systems, earthing systems, and lightning and surge protection.</p>
<p>Haryana-based solar module manufacturer Saatvik Green Energy <a href="https://www.mercomindia.com/saatvik-green-receives-solar-module-orders-worth-%E2%82%B97-billion-2" target="_blank" rel="noopener">received</a> orders worth approximately ₹6.9 billion (~$78.05 million) to supply high-efficiency solar modules to undisclosed Indian independent power producers and engineering, procurement, and construction contractors. It has received the orders in two sets. One set of orders is worth ₹506.2 million (~$5.73 million) received by Saatvik Green Energy. This will be completed by November 2025. The second, worth ₹6.39 billion (~$72.34 million), was received by Saatvik’s material subsidiary, Saatvik Solar Industries.</p>
<p>The board of directors of Refex Green Power, a wholly-owned subsidiary company of Refex Renewables and Infrastructure, <a href="https://www.mercomindia.com/refex-green-divest-stake-flaunt-solar-energy" target="_blank" rel="noopener">approved</a> the sale of its entire 74% equity stake in Flaunt Solar Energy, a step-down subsidiary. The stake will be sold at face value equal to cost for ₹74,000 (~$837), payable in cash, translating to ₹10 (~$0.11) per share based on a valuation that places the equity fair value in negative territory, according to a bourse filing. Refex Renewables and Infrastructure said no share purchase agreement has yet been executed. The expected completion date for the transaction is October 15, 2025.</p>
<p>Decarbonization solutions company ReNew Global Energy (ReNew) <a href="https://www.mercomindia.com/renew-receives-revised-share-buyout-proposal-from-investors" target="_blank" rel="noopener">received</a> a best and final non-binding proposal from the consortium led by Abu Dhabi Future Energy (Masdar), Canada Pension Plan Investment Board, Platinum Hawk, and Sumant Sinha, Founder-CEO at ReNew, to acquire the company’s entire issued and to-be issued share capital for a cash consideration of $8.15 per share. This would include the share capital not already owned by the consortium. ReNew said this acquisition proposal represents a $1.08 per share or 15.3% increase from the initial non-binding proposal from the consortium dated December 10, 2024.</p>
<p>Aiming to advance its sustainability goals and make productive use of parking and shaded areas, Cyberpark in Kozhikode, Kerala, <a href="https://www.mercomindia.com/cyberpark-kozhikode-300-kw-solar-project" target="_blank" rel="noopener">commissioned</a> a 300 kW rooftop solar system executed by Wattsun Energy. The project was driven by Cyberpark’s vision to reduce grid dependence while turning underutilized car park spans into power generation assets. Before opting for solar, the campus consumed roughly 2.9 GWh of electricity annually. The new system is projected to lower annual power expenses by around 20%, with an estimated payback period of 2.5 years. Wattsun deployed Rayzon solar modules paired with Polycab inverters for reliable, high-yield performance in coastal conditions.</p>
<p>Adani Green Energy Twenty Six A, a wholly-owned stepdown subsidiary of Adani Green Energy, <a href="https://www.mercomindia.com/adani-green-commissions-50-mw-solar-project-khavda" target="_blank" rel="noopener">operationalized</a> a 50 MW solar project at Khavda, Gujarat. Power generation from this project is set to commence on October 16, 2025. Adani Green’s total operational renewable generation capacity, with this commissioning, stands at 16,729.8 MW. In September this year, Adani Green Energy operationalized an aggregate of 408.1 MW of renewable energy projects through its step-down subsidiaries at Khavda. Adani Renewable Energy Fifty Six also operationalized a 125 MW solar power project at Khavda in September.</p>
<p>China <a href="https://www.mercomindia.com/china-complains-to-wto-about-indias-electric-vehicle-and-battery-subsidies" target="_blank" rel="noopener">filed</a> a complaint with the World Trade Organization (WTO) over India’s subsidies for electric vehicles and battery manufacturing. A spokesman of China’s Ministry of Commerce confirmed that the country had formally submitted a consultation request over India’s subsidies for the EV and battery sectors. The spokesman claimed that the subsidies could be violating multiple obligations, including ‘national treatment,’ which are expressly prohibited by the WTO. Under WTO rules, the national treatment obligation is a general prohibition on the use of internal taxes and other internal regulatory measures that are meant to protect domestic production.</p>
<p>Australia <a href="https://www.mercomindia.com/australia-floats-tender-for-5-gw-renewable-energy-projects" target="_blank" rel="noopener">invited</a> bids for 5 GW of renewable energy projects in the National Electricity Market as part of the seventh tender under the Capacity Investment Scheme. Bids must be submitted by December 9, 2025. Successful bids will be announced in May 2026. Bids can be submitted to set up renewable power generation projects with an installed capacity of at least 30 MW. The project allocation is 1.7 GW in New South Wales, 1 GW in Victoria, and 300 MW in Tasmania. The remaining 2 GW is yet to be allocated. Solar and solar-hybrid technologies are not eligible for projects in Victoria. All projects must achieve commercial operations before the end of 2030.</p>
<p>Power solutions company Bloom Energy and global alternative asset manager Brookfield Asset Management <a href="https://www.mercomindia.com/bloom-brookfield-sign-5-billion-deal-to-power-ai-data-centers" target="_blank" rel="noopener">entered</a> into a $5 billion strategic partnership to implement AI infrastructure. This partnership marks the first phase of a joint AI infrastructure vision aimed at building factories capable of meeting the rising power and computing demands of artificial intelligence. It is Brookfield’s first investment in its AI infrastructure strategy, which focuses on investing in large AI factories, computing infrastructure, power solutions, and strategic capital partnerships. Under the partnership, Brookfield will invest up to $5 billion in deploying Bloom’s fuel cell technology.</p>
<p>A team led by researchers from the University of Sydney <a href="https://www.mercomindia.com/researchers-report-record-efficiency-for-triple-junction-perovskite-cells" target="_blank" rel="noopener">claimed</a> it created the largest and most efficient triple-junction perovskite-perovskite-silicon tandem solar cell reported. The research team’s 16 cm2 triple-junction cell achieved a 23.3% steady-state power conversion efficiency, which is the highest reported level for a large area of its kind. This efficiency level was certified independently. The research, titled “Tailoring nanoscale interfaces for perovskite–perovskite–silicon triple-junction solar cells,” was published in Nature Nanotechnology.  It was conducted in collaboration with partners from China, Germany, and Slovenia.</p>


Daily News Wrap-Up: Tamil Nadu Targets 43% Renewable Energy by FY 2030


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					</table><p>Haryana-based solar module manufacturer <a href="https://saatvikgroup.com/" target="_blank" rel="noopener">Saatvik Green Energy</a> has received orders worth approximately ₹6.9 billion (~$78.05 million) to supply high-efficiency solar modules to undisclosed Indian independent power producers and engineering, procurement, and construction contractors.</p>
<p>It has received the orders in two sets. One set of orders is worth ₹506.2 million (~$5.73 million) received by Saatvik Green Energy. This will be completed by November 2025. The second, worth ₹6.39 billion (~$72.34 million), was received by Saatvik’s material subsidiary, Saatvik Solar Industries. This is to be executed by June 2026.</p>
<p>As of June 30, 2025, Saatvik operates a module capacity of approximately 3.8 GW with an additional 1 GW under expansion at Ambala, Haryana.</p>
<p>Recently, Saatvik Green Energy <a href="https://www.mercomindia.com/saatvik-green-receives-solar-module-orders-worth-%E2%82%B97-billion" target="_blank" rel="noopener">received</a> orders worth approximately ₹7.07 billion (~$79.62 million) to supply solar modules to undisclosed Indian independent power producers and engineering, procurement, and construction contractors.</p>
<p>In September this year, Saatvik Green Energy <a href="https://www.mercomindia.com/saatvik-bags-contract-1500-solar-water-pumps-maharashtra" target="_blank" rel="noopener">received</a> a letter of award from the Maharashtra State Electricity Distribution Company to install 1,500 solar water pumping systems under the Magel Tyala Saur Krishi Pump Yojana. The project spans multiple districts across Maharashtra and will cover capacities of 3 HP, 5 HP, and 7.5 HP DC solar submersible pump sets.</p>
<p>Saatvik Green Energy <a href="https://www.mercomindia.com/jinko-waaree-longi-trina-adani-lead-solar-module-supply-in-2024" target="_blank" rel="noopener">emerged</a> as one of the top leading Indian module suppliers in 2024, according to Mercom’s India Solar Market Leaderboard 2025.</p>
<p>In June 2025, Saatvik Solar Industries <a href="https://www.mercomindia.com/saatvik-begins-work-on-4-8-gw-solar-cell-and-4-gw-module-facility-in-odisha" target="_blank" rel="noopener">commenced</a> construction of its solar cell and module manufacturing facility in Odisha. The facility will have the capacity to manufacture 4.8 GW of solar cells and 4 GW of solar modules. The cell manufacturing facility is scheduled to be operational by the end of fiscal 2027, while the module plant is expected to be commissioned by the end of FY 2026.</p>
<p>According to the latest update of the Approved List of Models and Manufacturers, India has a module manufacturing capacity of 116,467 MW. A capacity of 6,922 MW was <a href="https://www.mercomindia.com/solar-module-capacity-under-almm-grows-by-6-9-gw-in-october-2025" target="_blank" rel="noopener">added</a> to the list.</p>


Saatvik Green Receives Solar Module Orders Worth ₹7 Billion


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					</table><p>Haryana-based solar module manufacturer <a href="https://saatvikgroup.com/" target="_blank" rel="noopener">Saatvik Green Energy</a> has received orders worth approximately ₹7.07 billion (~$79.62 million) to supply solar modules to undisclosed Indian independent power producers and engineering, procurement, and construction contractors.</p>
<p>It has received the orders in two sets. One set of orders is worth ₹4.88 billion (~$54.96 million). The second, from three clients, is worth roughly ₹2.19 billion (~$24.73 million).</p>
<p>The company stated in a regulatory filing that the ₹4.88 billion (~$54.96 million) order is a repeat one. Both orders will be executed within the financial year (FY) 2026.</p>
<p>In September this year, Saatvik Green Energy <a href="https://www.mercomindia.com/saatvik-bags-contract-1500-solar-water-pumps-maharashtra" target="_blank" rel="noopener">received</a> a letter of award from the Maharashtra State Electricity Distribution Company to install 1,500 solar water pumping systems under the Magel Tyala Saur Krishi Pump Yojana. The project spans multiple districts across Maharashtra and will cover capacities of 3 HP, 5 HP, and 7.5 HP DC solar submersible pump sets.</p>
<p>Saatvik Green Energy <a href="https://www.mercomindia.com/jinko-waaree-longi-trina-adani-lead-solar-module-supply-in-2024" target="_blank" rel="noopener">emerged</a> as one of the top leading Indian module suppliers in 2024, according to Mercom’s India’s Solar Market Leaderboard 2025.</p>
<p>In June 2025, Saatvik Solar Industries, a wholly owned subsidiary of Saatvik Green Energy, <a href="https://www.mercomindia.com/saatvik-begins-work-on-4-8-gw-solar-cell-and-4-gw-module-facility-in-odisha" target="_blank" rel="noopener">commenced</a> construction of its solar cell and module manufacturing facility in Odisha. The facility will have the capacity to manufacture 4.8 GW of solar cells and 4 GW of solar modules.</p>
<p>Saatvik is implementing the project at the Gopalpur Industrial Park in the state’s Ganjam district. It is being set up on 57 acres of land sub-leased from the Tata Steel Special Economic Zone. The solar cell manufacturing facility is scheduled to be operational by the end of fiscal 2027, while the module manufacturing facility is expected to be commissioned by the end of FY 2026.</p>
<p>Saatvik’s initial public offering (IPO) was <a href="https://www.mercomindia.com/saatvik-greens-ipo-closes-with-6-5-times-oversubscriptionhttps:/www.mercomindia.com/saatvik-greens-ipo-closes-with-6-5-times-oversubscription" target="_blank" rel="noopener">oversubscribed</a> 6.57 times at the end of the bidding window on September 23, 2025. The price band was set at ₹442 (~$5) to ₹465 (~$5.26) per equity share with a face value of ₹2 (~$0.02). The IPO saw bids for 93.8 million shares, exceeding the 14.27 million shares on offer.</p>



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					</table><p>Haryana-based solar module manufacturer <a href="https://saatvikgroup.com/" target="_blank" rel="noopener">Saatvik Green Energy</a>&#8216;s initial public offering (IPO) was oversubscribed 6.57 times at the end of the bidding window on September 23, 2025.</p>
<p>The price band was set at ₹442 (~$5) to ₹465 (~$5.26) per equity share with a face value of ₹2 (~$0.02). The IPO saw bids for 93.8 million shares, exceeding the 14.27 million shares on offer.</p>
<p>Qualified institutional buyers led the demand, with a subscription rate of 10.84, followed by non-institutional investors at 10.04 and the employee portion at 5.29. The portion allocated to retail individual investors was oversubscribed by 2.66 times.</p>
<p>The shares are expected to be listed on the BSE and NSE on September 26, 2025.</p>
<p>In November 2024, Saatvik Green <a href="https://www.mercomindia.com/saatvik-green-files-ipo" target="_blank" rel="noopener">filed</a> its draft red herring prospectus with the Securities and Exchange Board of India to raise up to ₹11.5 billion (~$136.26 million) through the IPO route.</p>
<p>The company&#8217;s proposed IPO is a combination of a fresh issue of shares worth ₹8.5 billion (~$100.71 million) and an offer for sale of ₹3 billion (~$35.54 million) by promoters. The shares will have a face value of ₹2 (~$0.024).</p>
<p>The net proceeds from the offer will be primarily utilized for debt repayment and investments in the company&#8217;s wholly owned subsidiary, Saatvik Solar Industries.</p>
<p>Approximately ₹123.12 million (~$1.45 million) will be allocated towards the prepayment or repayment of the company&#8217;s certain borrowings. Additionally, ~₹957.51 million (~$11.34 million) will be invested in Saatvik Solar Industries to repay its outstanding borrowings.</p>
<p>The company will also utilize approximately ₹5.53 billion (~$65.52 million) of the net proceeds to establish a 4 GW solar module manufacturing facility at the Gopalpur Industrial Park in Odisha.</p>
<p>The Gopalpur facility will also have 4.8 GW of solar cell manufacturing capacity, which is scheduled to be operational by the end of fiscal 2027.</p>
<p>Saatvik Green Energy <a href="https://www.mercomindia.com/jinko-waaree-longi-trina-adani-lead-solar-module-supply-in-2024" target="_blank" rel="noopener">emerged</a> as one of the top leading Indian module suppliers in 2024, according to Mercom&#8217;s recently released India&#8217;s Solar Market Leaderboard 2025.</p>


Saatvik Green’s IPO Closes with 6.5 Times Oversubscription


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					</table><p>The <a href="https://mnre.gov.in/" target="_blank" rel="noopener">Ministry of New and Renewable Energy</a> has updated the Approved List of Models and Manufacturers (ALMM) for solar photovoltaic modules, with the addition of a combined capacity of 2,271 MW by four manufacturers.</p>
<p>The cumulative module manufacturing capacity under ALMM now stands at 62,765 MW.</p>
<p><a href="https://bluebirdsolar.com/" target="_blank" rel="noopener">Bluebird Solar</a>, <a href="https://novasysgreen.com/" target="_blank" rel="noopener">Novasys Greenergy</a>, <a href="https://www.renew.com/" target="_blank" rel="noopener">ReNew Photovoltaics</a>, and <a href="https://saatvikgroup.com/" target="_blank" rel="noopener">Saatvik Green Energy</a> are the companies that added capacities.</p>
<p>Bluebird Solar contributed 6 MW, Novasys 181 MW, ReNew 910 MW, and Saatvik 1,174 MW to the added capacity. <a href="https://hrsolarsolution.com/" target="_blank" rel="noopener">HR Solar Solution</a>, <a href="https://emmvee.com/" target="_blank" rel="noopener">Emmvee Photovoltaic Power</a>, <a href="https://www.sael.co/" target="_blank" rel="noopener">SAEL Solar</a>, and <a href="https://www.vikramsolar.com/" target="_blank" rel="noopener">Vikram Solar</a>, with an applied capacity of 4,001 MW/year, were added to the provisional ALMM list.</p>
<p>In October, the MNRE <a href="https://www.mercomindia.com/solar-module-capacity-almm">expanded</a> the ALMM by adding 2,079 MW of solar module capacity.</p>
<p>The ministry recently <a href="https://www.mercomindia.com/almm-solar-cells-april-2026" target="_blank" rel="noopener">issued</a> a draft amendment to the ALMM Order to bring solar cells under its ambit. The mandate for solar cells is expected to be operational by April 2026.</p>
<p>In another update earlier in the year, MNRE <a href="https://www.mercomindia.com/solar-manufacturers-delisting-almm" target="_blank" rel="noopener">revised</a> the guidelines for the inspection and final enlistment of provisionally listed manufacturers. According to the new rules, the final enlistment must be completed within two months of the application</p>
<p>The ALMM mandates all the listed modules adhere to Bureau of Indian Standards (BIS) and meet minimum efficiency requirements. Utility-scale modules must achieve a minimum efficiency of 20% for silicon-based technologies and 19% for cadmium telluride thin-film modules.</p>
<p>According to Mercom’s State of Solar PV Manufacturing in India 1H 2024 Report, India <a href="https://www.mercomindia.com/india-module-manufacturing-capacity-2024" target="_blank" rel="noopener">added</a> 11.3 GW of solar modules and 2 GW of cell manufacturing capacity in the first six months of 2024. The capacity additions were driven by the reinstatement of the ALMM mandate in April this year and a robust solar project pipeline of 132.7 GW planned between 2024 and 2026. The ALMM Order had been suspended for a year.</p>


Solar Module Capacity under ALMM Expands to 62,765 MW


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<div>Here are some noteworthy cleantech announcements of the day from around the world:</div>
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<div><strong>Saatvik Green Energy </strong><a href="https://saatvikgroup.com/saatvik-secures-4-mw-high-efficiency-solar-modules-supply-order-in-uttar-pradesh/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a 4 MW solar module supply order after the reverse auction conducted by Bharat Heavy Electricals Limited (BHEL).</strong> The projects will be installed at two thermal power plants in Uttar Pradesh. The company will supply highly efficient monocrystalline passivated emitter and rear contact (PERC) half-cut modules by the year-end. BHEL will engineer and execute the project. Of the total capacity, 2.5 MW will be installed at the Orba thermal power plant in the Sonbhadra district, and 1.6 MW capacity will be installed at the Jawaharpur thermal plant in the Etah district of Uttar Pradesh.</div>
<p><strong>ReNew Power </strong><a href="https://renewpower.in/wp-content/uploads/2022/11/ReNew_Power_Press_Release_Egypt_Green_Hydrogen_Framework_Agreement.pdf" target="_blank" rel="noopener"><strong>signed</strong></a><strong> an agreement with the government of Egypt to set up a green hydrogen plant in the Suez Canal Economic Zone with an investment of $8 billion and a targeted annual production of 220,000 tons of green hydrogen.</strong> The project is scheduled to be implemented in phases. The first phase is a pilot phase to produce 20,000 tons of green hydrogen, along with derivatives, annually. In the next phase, the production of 200,000 tons per year of green hydrogen, along with derivatives, will be achieved, thereby bringing the project&#8217;s total green hydrogen production capacity to 220,000 tons per year. The pilot phase project is expected to be commissioned in 2026.</p>
<p><strong><a href="https://www.tatapowersolar.com/" target="_blank" rel="noopener">Tata Power Solar</a> signed a memorandum of understanding with the Union Bank of India to help the micro, small, and medium enterprises sector switch to solar solutions.</strong> The collaboration will encourage industries to transition to green energy while making sustainable power accessible to rural, small-scale industries, realizing the vision of Aatmanirbhar Bharat.</p>
<p><strong>Sungrow, a global inverter and energy storage solution supplier and the Provincial Electricity Authority of Thailand, </strong><a href="https://en.sungrowpower.com/NewsDetail/3136" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a memorandum of understanding for the energy storage and green hydrogen business.</strong> The cooperation signals the increasing demand for renewable energy, such as energy storage and green hydrogen, in the southeast Asia region. Sungrow will use its capacity to innovate and incubate more industry-university joint research projects in the near future. Sungrow places Thailand as a significant market and has installed a total of over 1 GW capacity of PV inverters and over 140MWh energy storage systems there.</p>
<p><strong>Pilot Company and Volvo Group have </strong><a href="https://pilotflyingj.com/press-release/20462" target="_blank" rel="noopener"><strong>signed</strong></a><strong> an agreement to develop a high-performance charging network for all battery-electric Class 8 truck brands to support fleet customers in their electrification and decarbonization journey.</strong> The partnership will provide fleets with a reliable electromobility solution that further enables the widespread adoption of medium- and heavy-duty electric trucks. Chargers will be located at select Pilot and Flying J travel centers across U.S. and Canada, ideally positioned along transportation corridors and well-equipped to serve professional drivers. Chargers will be installed at mutually identified travel center locations based on customer needs, current and anticipated battery-electric truck density, and the availability of public funding to support infrastructure costs.</p>
<p><strong>Global investment firm Carlyle </strong><a href="http://www.carlyle.co.in/media-room/news-release-archive/carlyle-launches-renewable-energy-development-platform-telis-energy-in-europe" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the launch of Telis Energy, a newly created renewable platform to develop renewable energy projects with a focus on solar in the United Kingdom, France, Spain, and Germany, with a view to expand in other markets in Europe.</strong> Telis will develop high-quality renewable energy projects and play a vital role in the European energy transition, with a project pipeline of more than 10 GW by 2030. Since December 2018, Carlyle has deployed approximately $1.2 billion globally into renewable assets as of September 2022.</p>
<p><strong>NEoT Offgrid Africa, an investment platform designed to support the energy transition in Africa, GDS International, and ARESS have </strong><a href="https://www.neotcapital.com/en/neot-offgrid-africa-gds-international-and-aress-join-forces-to-develop-and-operate-a-selection-of-mini-grids-in-benin/" target="_blank" rel="noopener"><strong>joined</strong></a><strong> hands to enter the rural electrification sector in Benin by creating a joint company, Les Soleils du Bénin.</strong> The partnership starts with a first flagship project aiming to electrify 12 localities in Benin within a year. The project represents an investment of €8.5 million (~$8.81 million), co-financed by NEoT Offgrid Africa, as a financial partner of the project, and MCA Benin II. The goal is to install 1.7 MW of solar capacity and 3 MWh of battery capacity in all 12 localities, supplying more than 5,000 homes and businesses with electricity.</p>


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