From: Mercom Capital Group

Okovate Sustainable Energy, an agrivoltaic project developer, has announced the acquisition of assets from Fundusol, a modeling platform born out of Stanford University and Carnegie Mellon. Backed by the Schmidt Family Foundation, Okovate develops energy solutions for the agricultural sector. The acquisition is expected to help the company move beyond conventional project development and position itself as a technical data partner for the agricultural community. By integrating Fundusol’s proprietary modeling engine, a technology stack that simulates the complex interactions between solar array design and crop phenology, directly into its development pipeline.

Waaree Energy Storage Solutions, a subsidiary of Waaree Energies, has secured ₹10.03 billion (~$111.16 million) in funding from a group of strategic investors, including family offices, high-net-worth individuals, and institutional backers. The funding is part of the ₹100 billion (~$1.1 billion) capital expenditure announced to establish a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility. The cells and battery pack manufacturing plant will focus on producing cells and battery packs tailored for utility-scale storage systems, electric mobility, and distributed energy applications. In November 2025, the Waaree Group secured a 10 MWh order for battery energy storage systems from an infrastructure development company for deployment in Tamil Nadu.

Oriana Power has approved the issue and allotment of non-convertible debentures (NCD) aggregating to ₹750 million (~$9.04 million). The company will issue 7,500 rated, unlisted, senior, secured, redeemable, and transferable NCDs, each having a face value of ₹100,000 (~$1,205). The debentures are proposed to be issued on a private placement basis to identified investors and are not proposed to be listed on any recognized stock exchange. The Board will finalize the allotment date after the subscription is completed and funds are received. The debentures will carry a fixed coupon of 11.65% per annum, with interest payable monthly.

For reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors, click here.

Read last week’s funding roundup.