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					</table><p>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.</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>ACME’s total operational capacity has increased from 2,890 MW to 2,918 MW with this addition.</p>
<p>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>.</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>



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					</table><p>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></p>
<p><strong>Glint Solar, a company that provides software for solar developers, </strong><a href="https://mercomcapital.com/glint-solar-raises-8-million-in-series-a-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $8 million in a Series A funding round led by Smedvig Ventures with participation from Momentum</strong>, 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.</p>
<p><strong>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</strong> existing investors MTR Lab, Taronga Ventures, and 2150. The company will use this funding to expand its battery energy storage supply globally.</p>
<p><strong>Solar energy company ACME Solar Holdings’ ₹29 billion (~$344.85 million) initial public offering (IPO) </strong><a href="https://www.mercomindia.com/acme-solar-holdings-ipo-oversubscribed" target="_blank" rel="noopener"><strong>received</strong></a><strong> tepid interest from investors</strong>. 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.</p>
<p><strong>Norway-based FREYR Battery has </strong><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"><strong>announced</strong></a><strong> it is acquiring China-headquartered solar photovoltaics company Trina Solar‘s U.S. solar manufacturing assets for $340 million</strong>. FREYR will acquire Trina Solar’s 5 GW solar module manufacturing facility in Wilmer, Texas, which started production on November 1, 2024.</p>
<p><strong>Electric vehicle (EV) startup MOOEV Technologies has </strong><a href="https://www.mercomindia.com/ev-startup-mooev-raises-%E2%82%B940-million-in-seed-funding-round" target="_blank" rel="noopener"><strong>raised</strong></a><strong> ₹40 million (~$474,683) in a seed funding round led by Bizdateup</strong>. 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.</p>
<p><strong>ZE Energy, a developer specializing in solar and energy storage projects, </strong><a href="https://mercomcapital.com/ze-energy-secures-58-million-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> €54 million (~$58 million) in funding</strong>. 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.</p>
<p><strong>Cube Green Energy, a renewable platform of global infrastructure investment manager I Squared Capital, has </strong><a href="https://mercomcapital.com/cube-green-energy-to-acquire-solar-developer-sunfarming/" target="_blank" rel="noopener"><strong>agreed</strong></a><strong> to acquire control of SUNfarming</strong>, 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.</p>
<p>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>.</p>
<p>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>.</p>


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

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