Total global corporate funding for the solar sector dropped by 39% year-over-year (YoY) to $10.8 billion in the first half (1H) of 2025 from $17.6 billion, according to Mercom India’s newly released 1H and Q2 2025 Solar Funding and M&A Report. The number of deals also decreased by 11% to 78 deals from 88 during the same period last year. Raj Prabhu, CEO at Mercom Capital Group, attributed the decline in global corporate funding in the solar sector to the market freeze due to uncertainty over the ‘One Big Beautiful Bill.’ Global venture capital funding amounted to $2.5 billion from 32 deals in 1H, decreasing 7% YoY from $2.7 billion from 29 deals.

The Alliance for American Solar Manufacturing and Trade filed new anti-dumping and countervailing duty petitions with the U.S. International Trade Commission and the U.S. Department of Commerce against imports of crystalline silicon photovoltaic cells, whether or not assembled into modules, from India, Indonesia, and Laos. These petitions allege that companies based in India and largely Chinese-owned manufacturers operating in Indonesia and Laos are engaging in illegal trade practices by undercutting the U.S. solar manufacturing industry and flooding the market with cheaper imports.

The Karnataka Electricity Regulatory Commission issued the Intra-State Deviation Settlement Mechanism and Related Matters Regulations, 2025, to establish a commercial mechanism to ensure grid users’ adherence to scheduled electricity drawal and injection, and maintain grid security and stability. The regulations apply to all grid-connected entities engaged in the intrastate purchase and sale of electricity within the state. The commission issued the draft document in October last year.

The U.S. Department of the Interior (DOI) announced it is ending the preferential treatment of ‘unreliable’ and subsidy-reliant wind and solar energy. All DOI-related decisions and actions regarding wind and solar energy facilities will be subjected to a new review process by the Office of the Executive Secretariat and Regulatory Affairs. Subsidies for such facilities will also be stopped. The activities to be reviewed will include leases, rights-of-way, construction and operation plans, grants, consultations, and biological opinions. The announcement follows President Donald Trump signing Executive Order 14315, titled ‘Ending Market Distorting Subsidies for Unreliable, Foreign-Controlled Energy Sources,’ and the passage of the One Big Beautiful Bill Act (Budget Reconciliation Bill, 2025).

Waaree Renewable Technologies, the engineering, procurement, and construction arm of the Waaree Group, reported a consolidated revenue from operations of ₹6.03 billion (~$70.23 million) for the first quarter (Q1) of the financial year (FY) 2026, a 155.2% YoY increase from ₹2.36 billion (~$27.48 million). The revenue growth was mainly driven by a strong performance in its engineering, procurement, and construction (EPC) business. The company’s profit after tax (PAT) rose 207% YoY to ₹863.9 million (~$10.06 million) from ₹281.6 million (~$3.28 million). The PAT margin during the quarter stood at 14.32% against 11.91% in Q1 FY 2025.

NTPC Green Energy invited bids for the deployment of a Qualified Coordinating Agency to provide forecasting, scheduling, and punching of finalized schedules into the relevant grid portal and aggregation services for its 250 MW solar power project at Anantapur, Andhra Pradesh. The last date to submit bids is July 22, 2025. Bids will be opened on the same day. Bidders must submit 5% of the monthly billed service charges as a security deposit. The selected bidder must provide QCA services for 12 months, which may be extended for an additional six months. There will be a defects liability period for one year. The scope of work encompasses the collection of real-time data on power generation and the installation of modem-based energy meters.

Sterling and Wilson Renewable Energy revenue from operations rose to ₹17.62 billion (~$204.88 million) in the Q1 of the FY 2026, a 93% YoY increase from ₹9.15 billion (~$106.4 million). This growth was driven by a ramp-up in the execution of EPC projects across domestic and international markets. Profit after tax stood at ₹390 million (~$4.53 million), a 680% YoY increase from ₹50 million (~$580,000), despite tax-related impacts. The company’s gross profit stood at ₹2.05 billion (~$23.84 million), rising 101% from ₹1.02 billion (~$11.86 million) in the same quarter last year. This increase was supported by a reduction in input costs, including for solar modules and logistics. The company’s gross margin improved slightly to 11.7% in Q1 FY 2026 from 11.1% in the same period of the previous year.