Corporate funding in the solar sector rose to $11.1 billion across 53 deals in the first quarter of 2026, marking a 131% year-over-year increase from the $4.8 billion raised across 39 deals in Q1 2025, according to Mercom Capital Group’s newly released Q1 2026 Solar Funding and M&A Report. The funding also increased by 127% quarter-over-quarter from the $4.9 billion secured through 48 deals in Q4 2025.

Damodar Valley Corporation (DVC) announced the winner of the auction to set up a 250 MW/500 MWh battery energy storage system project in Maithon, Jharkhand. Pace Digitek won the project valued at ₹7.02 billion (~$74.33 million). The tender was floated in April 2025. The project is part of Phase I of DVC’s plan to install a cumulative 500 MW/1,000 MWh battery storage project in Jharkhand and West Bengal.

The Ministry of New and Renewable Energy issued a standard procedure for warranty management and claims settlement for solar modules installed under distributed renewable energy programs, mandating a 10-year product warranty and a 25-year power output warranty.

The Andhra Pradesh government approved investments totaling ₹1.72 trillion (~$18.21 billion) across three renewable and data center projects at the 17th State Investment Promotion Board (SIPB) meeting chaired by Chief Minister N. Chandrababu Naidu. The approvals were part of 25 projects approved by the state government during the meeting, with investments totaling ₹2.01 trillion (~$21.22 billion).

REC Power Development and Consultancy issued three tenders to set up intrastate transmission systems (InSTS) in Maharashtra to evacuate power from renewable energy projects. The InSTS will be set up for the 765 kV air-insulated substation (AIS) at Parli in the Beed district, a 400 kV AIS at Babhulgaon in the Yavatmal district, and a 400 kV gas-insulated Solapur/Paranda switching station in the Dharashiv district.

SEG Solar, a California-based solar module manufacturer, announced plans to establish a 4 GW solar module manufacturing facility in Houston, Texas. Commercial operations at the new facility are expected to begin in the third quarter of 2026. The facility will involve an investment of over $200 million. SEG Solar said the expansion is part of its localization strategy.

Gurgaon-based independent power producer ACME Solar Holdings reported a revenue of ₹5.48 billion (~$58.05 million) in the fourth quarter of the financial year 2026, a 12.5% year-over-year jump from ₹4.87 billion (~$51.59 million). The company attributed the quarter’s revenue rise to a higher capacity utilization factor and capacity additions.

Solar module manufacturer Vikram Solar’s revenue from operations for the fourth quarter (Q4) of the financial year (FY) 2026 rose 21.7% year-over-year (YoY) to ₹14.53 billion (~$153.97 million) from ₹11.94 billion (~$126.52 million). The company’s earnings before interest, taxes, depreciation, and amortization increased 4.9% YoY to ₹2.35 billion (~$24.90 million) from ₹2.24 billion (~$23.74 million) in Q4 FY25.

Fuel cell manufacturer Ballard Power Systems’ revenue surged 26% year-over-year to $19.4 million in the first quarter of 2026, from $15.4 million on the back of higher deliveries to its rail and bus verticals. Marty Neese, Ballard’s President and CEO, said that increased engine shipments drove the company’s revenue growth in the quarter.

Utility-scale energy storage firm Fluence Energy reported revenue of $464.9 million for the second quarter of fiscal year 2026, a 7.7% year-over-year increase from $431.6 million. Revenue missed analysts’ estimates by $157.42 million. The company reported a loss per share of $0.16, compared to $0.24 in the previous year.

Multinational technology company Apple committed an initial investment of ₹1 billion (~$10.6 million) in Clean Max Enviro Energy Solutions (CleanMax) to develop more than 150 MW of renewable energy capacity in India. Apple previously partnered with CleanMax on rooftop solar projects to power its offices and retail stores in India with 100% renewable energy.

Solar Landscape, a U.S.-based commercial rooftop solar developer, secured a $600 million green-labeled senior debt warehouse facility to support its distributed solar project pipeline across the U.S. The financing comprises a $350 million three-year revolving construction warehouse facility and a $250 million delayed-draw term loan facility with a five-year tenor.

Israel-based solar inverter manufacturer SolarEdge reported revenues of $310.5 million in the first quarter (Q1) of 2026, a 41.5% year-over-year jump from $219.5 million and beating analysts’ expectations by $5.03 million. The company expects to achieve break-even operating profit in Q2 2026.

Norway-based silicon material manufacturer REC Silicon reported revenue of $19.5 million in the first quarter (Q1) of 2026, down 8.9% from $21.4 million in the same period last year. The company reported a diluted loss per share from total operations of $0.04, compared with a $0.06 loss in Q1 2025.

Lithium-ion storage solutions provider Flux Power reported revenue of $6.59 million in the third quarter of the fiscal year 2026, down 60.7% year-over-year from $16.7 million. The revenue fell short of analyst expectations of $10.1 million. The decline was primarily attributed to the company’s largest material-handling customer implementing a capital-spending freeze, as well as shifting order patterns across the business.

U.S.-based module manufacturer First Solar reported a revenue of $1.04 billion in the first quarter (Q1) of 2026, rising 24% year-over-year (YoY). Adjusted earnings before interest, taxes, depreciation, and amortization stood at $520 million, increasing 37% YoY from $379 million. Profit after tax for the quarter was $347 million, up 65% from $210 million in the same quarter last year.

U.S.-based smart energy storage company Stem reported revenue of $29 million in the first quarter (Q1) of 2026, down 11% year-over-year (YoY) from $32.5 million and missing analyst expectations by $5.61 million. Software, services, and edge hardware revenue rose 4% YoY to $29 million from $28 million, driven by 16% YoY growth in PowerTrack software revenue.