Mercom Research Focus
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Solar Corporate Funding in Q1 2025 Declines 41% as Uncertainty Weighs on Market

The solar companies secured $4.8 billion corporate funding in 39 deals in the first quarter (Q1) of 2025, a 41% year-over-year (YoY) decrease from $8.2 billion raised in 42 deals. However, funding increased 20% quarter-over-quarte...

April 21, 2025

C&I

Delhi’s Uttara Guruvayurappan Temple Turns Green with 80 kW Rooftop Solar System

Religious institutions across India are increasingly turning to solar energy to meet their energy needs and showcase their commitment to cutting down their carbon footprint. One of the more recent examples is the Uttara Guruvayura...

April 23, 2025

C&I

Maharashtra’s 100% Solar-Powered Eco Resort Saves ₹2.9 Million Annually

The hospitality industry is emerging as a leader in the transition to renewable energy, joining a growing number of commercial and industrial units in India with high power consumption that are turning to green energy. This shift ...

April 16, 2025

Renewable Energy

Most of India Saw 3-10% Decline in Solar Irradiation in 2024: Interview

Solar generation depends on the solar irradiation that falls on photovoltaic panels. India has witnessed up to 7% below-average solar radiation variability between 2018 and 2022 and between 3% and 10% in 2024. Slovakia-headquarter...

April 17, 2025

Latest News

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Assam Regulator Rejects DISCOM’s Plea to Procure Solar Power at ₹3.92/kWh

The Assam Electricity Regulatory Commission (AERC) has directed the Assam Power Distribution Company (APDCL) to procure solar power at tariffs lower than ₹3.92 (~$0.046)/kWh. Background The petitioner, APDCL, floated a tender to develop 15 MW...

April 23, 2025

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Higher Solar Module Sales Drive Waaree Energies’ Income Up 38% in Q4 FY 2025

Solar module manufacturer Waaree Energies’ total income for the fourth quarter (Q4) of the financial year (FY) 2025 rose 37.69% year-over-year (YoY) to ₹41.41 billion (~$484.52 million) from ₹30.07 billion (~$351.85 million). The company’s Earnings...

April 23, 2025

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Daily News Wrap-Up: MNRE Expands Solar Module Capacity Under ALMM by 14,670 MW

The MNRE updated the Approved List of Models and Manufacturers (ALMM) by adding 14,670 MW of solar module manufacturing capacity. The cumulative module manufacturing capacity reached 88,905 MW after the latest additions. New entries included Websol...

April 23, 2025

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US Slaps Steep Anti-dumping and Anti-Subsidy Duties on Solar Imports from Southeast Asia

The U.S. Department of Commerce has announced its final determinations in the anti-dumping and countervailing duty investigations concerning crystalline silicon photovoltaic cells and modules imported from Cambodia, Malaysia, Thailand, and Vietnam....

April 23, 2025

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Madhya Pradesh Issues Incentives for Biofuel Projects Above ₹100 Million

The Madhya Pradesh government has issued an incentive program to implement biofuel projects with investments above ₹100 million (~$1.17 million) through its ‘Scheme for Implementation of Biofuel Projects in Madhya Pradesh’ program. The program...

April 23, 2025

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Funding and M&A Roundup: Solar Energy Startup Arnergy Raises $15 Million

From: Mercom Capital Group Arnergy, a provider of distributed solar energy solutions, has raised $15 million as an extension of its Series B round, adding to the $3 million it secured in an earlier round, bringing the total Series B funding to $18...

April 23, 2025

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Project Finance Brief: Spearmint Energy Secures $250 Million for BESS Projects

From: Mercom Capital Group Spearmint Energy, a utility-scale battery storage project developer, secured more than $250 million in financing for the construction and development of two 100 MW/200 MWh Tierra Seca and Seven Flags battery energy storage...

April 23, 2025

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UPERC Approves Tariff for 5 MW of Bagasse-based RTC Power Procurement

The Uttar Pradesh Electricity Regulatory Commission (UPERC) has approved NIDP Developers’ request for a tariff of ₹5.95 (~$0.07)/kWh for procuring 5 MW of bagasse-based round-the-clock (RTC) power between April 1, 2025, and July 31, 2025. Bagasse is...

April 22, 2025

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GAIL Invites Bids for 17.5 MW Floating Solar Project in Uttar Pradesh

GAIL (India), a central public sector undertaking, has floated an engineering, procurement, and construction (EPC) tender for a 17.5 MW (AC) floating solar project at its facility in Pata, Uttar Pradesh. Bids must be submitted by May 20, 2025. Bids...

April 22, 2025

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