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					</table>Gurugram-based renewable energy company <a href="https://www.acmesolar.in/" target="_blank" rel="noopener">ACME Solar Holdings</a> has commissioned the first 28 MW of its 100 MW wind power project in Surendranagar, Gujarat.
The project has been financed by Power Finance Corporation and was constructed through in-house engineering, procurement, and construction services, deploying SANY’s 4 MW turbines.
The energy generated by the project is pooled at a 33/220 kV pooling station and stepped up for evacuation to the Shapar substation using a dedicated single circuit 220 kV transmission line. The project would share the substation with ACME Solar’s already commissioned 50 MW wind power project.
The power generated from the project will be sold through the 25-year power purchase agreement signed between ACME Eco Clean and Gujarat Urja Vikas Nigam.
ACME’s total operational capacity has increased from 2,890 MW to 2,918 MW with this addition.
India added 1.6 GW of wind energy capacity in the second quarter (Q2) of 2025, a 113% year-over-year increase from 769 MW in Q2 2024, according to <a href="https://www.mercomindia.com/research" target="_blank" rel="noopener">Mercom India Research</a>.
In September, ACME Solar <a href="https://www.mercomindia.com/acme-solar-to-acquire-ak-renewable-infra-for-%E2%82%B9792-million/" target="_blank" rel="noopener">executed</a> a share purchase agreement to acquire 100% equity shares of AK Renewable Infra for an enterprise value of ₹792.5 million (~$9 million). Jaipur-based AK Renewable Infra has secured all development rights, including land, connectivity, and associated approvals, for a 300 MW solar project in Rajasthan.
In August this year, ACME Solar Holdings’ board of directors <a href="https://www.mercomindia.com/acme-solar-holdings-plans-30-billion-fundraise" target="_blank" rel="noopener">approved</a> a plan to raise ₹30 billion (~$342.23 million) in one or more tranches by issuing equity shares or other equity-linked instruments and securities.
In the same month, the company’s wholly owned subsidiary, ACME Hybrid Urja, <a href="https://www.mercomindia.com/acme-secures-%E2%82%B932-billion-from-rec-for-280-mw-fdre-project" target="_blank" rel="noopener">secured</a> long-term project financing of ₹31.84 billion (~$363.72 million) from REC to develop a 280 MW firm and dispatchable renewable energy project.
In June, ACME Solar Holdings <a href="https://www.mercomindia.com/acme-secures-%E2%82%B910-72-billion-refinancing-for-250-mw-rajasthan-solar-project" target="_blank" rel="noopener">secured</a> a domestic project finance facility totaling ₹10.72 billion (~$128.38 million) for its wholly-owned subsidiary, ACME Aklera Power Technology. This facility will be used to refinance the debt associated with the company’s 250 MW operational solar project in Rajasthan.

ACME Commissions 28 MW of its 100 MW Wind Power Project in Gujarat

Glint Solar, a company that provides software for solar developers, <a href="https://cms.mercomindia.com/glint-solar-raises-8-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> $8 million in a Series A funding round led by Smedvig Ventures with participation from Momentum, Futurum Ventures, and Antler. The company aims to use the funding to accelerate the growth of its SaaS software platform that enables solar developers to evaluate and pre-design sites for projects, expand its product offerings, and enter new markets to serve existing and new solar developers.
Ampd Energy, a provider of battery energy storage solutions for heavy industries, <a href="https://cms.mercomindia.com/ampd-energy-secures-27-3-million-in-series-b-funding/" target="_blank" rel="noopener">raised</a> $27.3 million in an oversubscribed Series B funding round. Kibo Invest and Openspace co-led the round, which also included existing investors MTR Lab, Taronga Ventures, and 2150. The company will use this funding to expand its battery energy storage supply globally.
Solar energy company ACME Solar Holdings’ ₹29 billion (~$344.85 million) initial public offering (IPO) <a href="https://www.mercomindia.com/acme-solar-holdings-ipo-oversubscribed" target="_blank" rel="noopener">received</a> tepid interest from investors. At the end of the bidding window on November 8, 2024, the issue was oversubscribed 2.75 times. The price band was set at ₹275-289 (~$3.27-3.43) per equity share with a face value of ₹2 (~$0.023). The IPO saw bids for 160 million shares, exceeding the 58.20 million shares on offer.
Norway-based FREYR Battery has <a href="https://www.mercomindia.com/freyr-to-buy-trina-solars-5-gw-solar-module-facility-in-u-s-for-340-million" target="_blank" rel="noopener">announced</a> it is acquiring China-headquartered solar photovoltaics company Trina Solar‘s U.S. solar manufacturing assets for $340 million. FREYR will acquire Trina Solar’s 5 GW solar module manufacturing facility in Wilmer, Texas, which started production on November 1, 2024.
Electric vehicle (EV) startup MOOEV Technologies has <a href="https://www.mercomindia.com/ev-startup-mooev-raises-%E2%82%B940-million-in-seed-funding-round" target="_blank" rel="noopener">raised</a> ₹40 million (~$474,683) in a seed funding round led by Bizdateup. Investors included Inflection Point Ventures and Spectrum Impact (Aarti Industries Family Office). The company will use the funds to accelerate the deployment of electric heavy-duty trucks and establish charging infrastructure for sustainable logistics across the country.
ZE Energy, a developer specializing in solar and energy storage projects, <a href="https://cms.mercomindia.com/ze-energy-secures-58-million-funding/" target="_blank" rel="noopener">raised</a> €54 million (~$58 million) in funding. The funding round was led by Infrastructure Investment Core+, managed by Amundi Energy Transition, with participation from The Climate Infrastructure Fund, which is managed by Demeter.
Cube Green Energy, a renewable platform of global infrastructure investment manager I Squared Capital, has <a href="https://cms.mercomindia.com/cube-green-energy-to-acquire-solar-developer-sunfarming/" target="_blank" rel="noopener">agreed</a> to acquire control of SUNfarming, a German Solar developer and independent power producer. The transaction remains subject to obtaining regulatory clearances and conditions and is expected to close by Q1 2025.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-redoxblox-raises-30-million-in-series-a-funding/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Glint Solar Raises $8 Million in Series A Funding

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-glint-solar-raises-8-million-in-series-a-funding/" target="_blank" rel="noopener">Mercom Capital Group</a>
Glint Solar, a company that provides software for solar developers, <a href="https://mercomcapital.com/glint-solar-raises-8-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> $8 million in a Series A funding round led by Smedvig Ventures with participation from Momentum, Futurum Ventures, and Antler. The company aims to use the funding to accelerate the growth of its SaaS software platform that enables solar developers to evaluate and pre-design sites for projects, expand its product offerings, and enter new markets to serve existing and new solar developers.
Ampd Energy, a provider of battery energy storage solutions for heavy industries, <a href="https://mercomcapital.com/ampd-energy-secures-27-3-million-in-series-b-funding/" target="_blank" rel="noopener">raised</a> $27.3 million in an oversubscribed Series B funding round. Kibo Invest and Openspace co-led the round, which also included existing investors MTR Lab, Taronga Ventures, and 2150. The company will use this funding to expand its battery energy storage supply globally.
Solar energy company ACME Solar Holdings’ ₹29 billion (~$344.85 million) initial public offering (IPO) <a href="https://www.mercomindia.com/acme-solar-holdings-ipo-oversubscribed" target="_blank" rel="noopener">received</a> tepid interest from investors. At the end of the bidding window on November 8, 2024, the issue was oversubscribed 2.75 times. The price band was set at ₹275-289 (~$3.27-3.43) per equity share with a face value of ₹2 (~$0.023). The IPO saw bids for 160 million shares, exceeding the 58.20 million shares on offer.
Norway-based FREYR Battery has <a href="https://www.mercomindia.com/freyr-to-buy-trina-solars-5-gw-solar-module-facility-in-u-s-for-340-million" target="_blank" rel="noopener">announced</a> it is acquiring China-headquartered solar photovoltaics company Trina Solar‘s U.S. solar manufacturing assets for $340 million. FREYR will acquire Trina Solar’s 5 GW solar module manufacturing facility in Wilmer, Texas, which started production on November 1, 2024.
Electric vehicle (EV) startup MOOEV Technologies has <a href="https://www.mercomindia.com/ev-startup-mooev-raises-%E2%82%B940-million-in-seed-funding-round" target="_blank" rel="noopener">raised</a> ₹40 million (~$474,683) in a seed funding round led by Bizdateup. Investors included Inflection Point Ventures and Spectrum Impact (Aarti Industries Family Office). The company will use the funds to accelerate the deployment of electric heavy-duty trucks and establish charging infrastructure for sustainable logistics across the country.
ZE Energy, a developer specializing in solar and energy storage projects, <a href="https://mercomcapital.com/ze-energy-secures-58-million-funding/" target="_blank" rel="noopener">raised</a> €54 million (~$58 million) in funding. The funding round was led by Infrastructure Investment Core+, managed by Amundi Energy Transition, with participation from The Climate Infrastructure Fund, which is managed by Demeter.
Cube Green Energy, a renewable platform of global infrastructure investment manager I Squared Capital, has <a href="https://mercomcapital.com/cube-green-energy-to-acquire-solar-developer-sunfarming/" target="_blank" rel="noopener">agreed</a> to acquire control of SUNfarming, a German Solar developer and independent power producer. The transaction remains subject to obtaining regulatory clearances and conditions and is expected to close by Q1 2025.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week’s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-redoxblox-raises-30-million-in-series-a-funding/" target="_blank" rel="noopener">roundup</a>.

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