Mercom Research Focus
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Why India’s Solar Cell Production Lags Behind Module Manufacturing

India’s solar manufacturing sector is expanding unevenly, with module production scaling rapidly while cell manufacturing continues to lag. Despite policy support and strong domestic demand, the gap highlights underlying technolog...

April 29, 2026

Mercom Research Focus

Rajasthan’s Virtual, Group Net Metering Rollout Slows Amid Lack of Guidelines

The Rajasthan Electricity Regulatory Commission (RERC) notified the regulations for virtual and group net metering for renewable energy projects roughly five months ago, but implementation has progressed slowly. Rooftop solar inst...

April 28, 2026

C&I

Hybrid Systems, Storage Drive Next Phase of India’s Solar Growth

India’s solar industry is entering a new phase of growth, marked by a rapid shift toward hybrid energy systems, battery storage, and high-efficiency module technologies, driven by rising renewable penetration, grid stability chall...

April 29, 2026

Markets & Policy

Karnataka High Court Stays CERC’s Revised Deviation Settlement Mechanism

The Karnataka High Court has issued an interim stay on the enforcement of the Central Electricity Regulatory Commission’s (CERC) revised deviation settlement mechanism (DSM) for renewable energy project developers. The stay will b...

April 28, 2026

Latest News

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Project Finance Brief: Enviromena Secures $1.1 Billion for Solar Expansion

From: Mercom Capital Group U.K.-based Enviromena, an independent power producer, signed an £825 million (~$1.1 billion) senior portfolio financing package to support the expansion of its solar portfolio across the U.K. The transaction is...

April 29, 2026

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Funding and M&A Roundup: Exergy3 Raises $13.5M in Seed Funding

From: Mercom Capital Group UK-based Exergy3, a thermal energy storage startup, raised £10 million (~$13.5 million) in a seed funding round, led by Axeleo Capital through its Article 9 Green Tech Industry I fund, with participation from Bayern...

April 29, 2026

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Battery Smart Raises $15 Million from Mirova to Expand EV Charging Network

Gurugram-based Battery Smart, a battery-swapping network for electric two- and three-wheelers operated by Upgrid Solutions, has secured $15 million in debt funding from Mirova, an affiliate of Natixis Investment Managers focused on sustainable...

April 29, 2026

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Regulator Allows Haryana to Procure Short-term Power to Manage Summer Demand

The Haryana Electricity Regulatory Commission (HERC) has approved Haryana Power Purchase Centre’s (HPPC) revised proposal to procure short-term round-the-clock (RTC) power of 390 MW in June, 687 MW in July, and 200 MW in August 2026 to manage...

April 28, 2026

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Odisha Approves GRIDCO’s 500 MWh Battery Storage Capacity Procurement

The Odisha Electricity Regulatory Commission (OERC) has approved discovered tariffs in the range of ₹304,000 (~$3,226)/MW/month and ₹354,000 (~$3,757)/MW/month for GRIDCO  to procure 125 MW/500 MWh battery energy storage capacity for 15 years. The...

April 28, 2026

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JK Cement to Procure Solar Power from Oriana’s 70 MW Solar Project

JK Cement will procure power from a 70 MW solar project for its Nimbahera facility in Rajasthan by acquiring a 26% equity stake in Truere Guj, a special purpose vehicle (SPV) of Oriana Power, under a captive user model. The company has subscribed to...

April 28, 2026

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Sunora Solar to Supply Modules for 30 MW Solar Project in Hyderabad

Surat-based solar module manufacturer Sunora Solar has signed a long-term purchase agreement with Hyderabad-based Bharat Enterprise to supply TOPCon G12R solar modules for a 30 MW solar project in Hyderabad under the Pradhan Mantri Kisan Urja...

April 28, 2026

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