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RECPDCL Announces Winner of ISTS Project to Evacuate 20 GW of Renewables


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					</table><p>Maharashtra-based rooftop solar engineering, procurement, and construction services provider <a href="https://roofsol.com/" target="_blank" rel="noopener">Roofsol Energy</a> has secured ₹2.6 billion (~$27.55 million) in funding from <a href="https://aseeminfra.in/" target="_blank" rel="noopener">Aseem Infrastructure Finance</a> to support the development of solar projects in India.</p>
<p>Roofsol said it will use the funding to support multiple projects, including solar installations for JK Tyre &amp; Industries and 100 MW of additional commercial and industrial (C&amp;I) solar projects across India.</p>
<p>The company stated that the funding will also help expand its renewable energy portfolio and support the supply of solar power to industrial consumers.</p>
<p>Roofsol has a total installed capacity of over 400 MW across more than 250 projects in India.</p>
<p>Last May, Roofsol <a href="https://www.mercomindia.com/roofsol-raises-2-billion-from-aseem-infra" target="_blank" rel="noopener">secured</a> ₹2.1 billion (~$24.67 million) in funding from Aseem Infrastructure Finance.</p>
<p>Roofsol was among the <a href="https://www.mercomindia.com/tata-power-solar-roofsol-mahindra-solarize-lead-indias-rooftop-solar-market-in-2024" target="_blank" rel="noopener">top</a> rooftop solar installers in India in 2024, according to Mercom India’s India Solar Market Leaderboard 2025.</p>
<p>In October 2024, Roofsol <a href="https://www.mercomindia.com/roofsol-energy-raises-%E2%82%B9255-million-through-equity-funding" target="_blank" rel="noopener">raised</a> ₹255 million (~$3.03 million) in its inaugural equity funding round.</p>
<p>This May, Aseem Infrastructure Finance <a href="https://www.mercomindia.com/evolve-green-secures-%E2%82%B91-billion-debt-from-aseem-infra-for-solar-expansion" target="_blank" rel="noopener">provided</a> solar solutions company Evolve Green Energies a debt capital commitment of ₹1.05 billion (~$11 million) to fund the development of Evolve’s 30 MW rooftop and group captive solar portfolio across India.</p>
<p>India added 2.7 GW of solar open access capacity in the first quarter of 2026, according to Mercom India’s <a href="https://www.mercomindia.com/product/q1-2026-mercom-india-solar-open-access-market-report" target="_blank" rel="noopener">Q1 2026 India Solar Open Access Market Report</a>, marking a 55% quarter-over-quarter increase from 1.7 GW and 160% year-over-year increase from 1 GW.</p>
<p>C&amp;I consumers have emerged as one of the most important drivers of renewable energy adoption in the country. As companies seek to manage rising electricity costs, improve energy security, and meet sustainability targets, demand for clean energy solutions in the C&amp;I segment continues to grow rapidly.</p>
<p>Mercom India has been hosting the <a href="https://www.mercomindia.com/event/c-and-i-clean-energy-meet" target="_blank" rel="noopener">C&amp;I Clean Energy Meet</a> series across Indian cities. These events aim to raise awareness among power consumers about the benefits of transitioning to clean energy. The next C&amp;I event will be <a href="https://www.mercomindia.com/event/c-and-i-clean-energy-meet-2026-hyderabad" target="_blank" rel="noopener">held</a> in Hyderabad on August 21, 2026.</p>


Roofsol Raises ₹2.6 Billion from Aseem Infra to Expand C&I Solar Portfolio


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					</table><p>Solar solutions company <a href="https://evolveenergygroup.com/" target="_blank" rel="noopener">Evolve Green Energies</a> has secured a debt capital commitment of ₹1.05 billion (~$11 million) from <a href="https://aseeminfra.in/" target="_blank" rel="noopener">Aseem Infrastructure Finance</a> to fund the development of its 30 MW rooftop and group captive solar portfolio across India.</p>
<p>Evolve will use this funding to accelerate the expansion of its distributed solar portfolio across government, industrial, and commercial client segments, focusing on high-credit offtakers and long-tenor power purchase agreements.</p>
<p>The company said that the financing structure has been designed to optimize capital efficiency across its project pipeline, enabling faster deployment to scale its solar portfolio to 1 GW, valued at approximately ₹35 billion (~$364 million) over the next two to three years. It also plans to add battery energy systems to its solar projects.</p>
<p>The transaction was advised by Centrum Capital, which will also advise Evolve on its upcoming equity raise to support its solar and battery storage expansion strategy.</p>
<p>Evolve currently operates and is developing a funded 150 MW solar portfolio, valued at roughly ₹5.25 billion (~$54.6 million), including assets under construction, and operates across more than 15 states.</p>
<p>Evolve also manufactures solar products under the EVVO Solar brand, including inverters, mounting structures, LT panels, and combiner boxes.</p>
<p>Earlier, Evolve was <a href="https://www.mercomindia.com/tnerc-adopts-tariff-for-two-15-mw-solar-plus-45-mwh-battery-storage-projects" target="_blank" rel="noopener">selected</a> as the L1 bidder by Tamil Nadu Green Energy Corporation for a 15 MW solar project integrated with 45 MWh battery energy storage systems in the Karur district.</p>
<p>Corporate funding in the solar sector <a href="https://www.mercomindia.com/global-corporate-funding-for-solar-surges-131-yoy-11-1-billion-in-q1-2026?" target="_blank" rel="noopener">rose</a> to $11.1 billion across 53 deals in the first quarter of 2026, marking a 131% year-over-year (YoY) 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&amp;A Report.</p>
<p>India <a href="https://www.mercomindia.com/indias-rooftop-solar-installations-surge-by-125-yoy-in-q1-2026" target="_blank" rel="noopener">added</a> 2.7 GW of rooftop solar capacity in the first quarter (Q1) of 2026, a YoY growth of 125.4% from 1.2 GW and a 25.4% quarter-over-quarter jump from 2.2 GW, according to Mercom India Research’s newly released Q1 2026 India Rooftop Solar Market Report.</p>
<p>India’s cumulative rooftop solar installations reached 23.5 GW at the end of March 2026.</p>


Evolve Green Secures ₹1 Billion Debt from Aseem Infra for Solar Expansion


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					</table><p>Singapore-headquartered energy-as-a-service (EaaS) infrastructure platform <a href="https://august-energy.com/" target="_blank" rel="noopener">August Energy</a> has secured long-term project financing of ₹1.3 billion (~$15 million) in debt from <a href="https://aseeminfra.in/" target="_blank" rel="noopener">Aseem Infrastructure Finance</a> for a portfolio of renewable energy projects in the commercial and industrial segment.</p>
<p>The financing will support multiple assets across the portfolio of August Energy India, a subsidiary of August Energy. The company said the funding from Aseem Infrastructure is its first asset-level long-term project financing in India.</p>
<p>TruBoard Cleantech, a digital-first ecosystem that provides asset lifecycle management, engineering, and procurement services for renewable energy projects, served as the advisor to August Energy for this transaction.</p>
<p>August Energy operates across Southeast Asia and India. It has also received financing from Aravest, Green Tower, Proparco, responsAbility Investments AG, PIDG Project Development, and other institutional capital providers.</p>
<p>This February, August Energy <a href="https://www.mercomindia.com/august-energy-signs-energy-as-a-service-deal-with-1-5-gw-solar-module-plant" target="_blank" rel="noopener">signed</a> its first EaaS contract in India for a 1.5 GW solar module manufacturing facility near Jaipur, Rajasthan, marking its entry into integrated utility services for the country’s rapidly expanding solar manufacturing sector. Under the agreement, the company will invest approximately ₹80 million (~$883,072) in the facility and provide chilled-water cooling, compressed air, and uninterruptible power supply infrastructure under a 10-year contract.</p>
<p>Last July, Switzerland-based impact asset manager responsAbility <a href="https://www.mercomindia.com/august-energy-15-million-expand-india-renewables-portfolio" target="_blank" rel="noopener">invested</a> $15 million (~₹1.28 billion) in August Energy on behalf of its investors. The funding enabled the company to expand its portfolio of distributed renewable energy projects in India.</p>
<p>The total global corporate solar funding <a href="https://www.mercomindia.com/corporate-solar-funding-down-16-yoy-in-2025-deal-count-rises-ma-robust" target="_blank" rel="noopener">dropped</a> by 16% year-over-year in 2025, with $22.2 billion raised in 175 deals, compared to $26.3 billion in 157 deals in 2024, according to Mercom Capital Group’s newly released 2025 Annual and Q4 Solar Funding and M&amp;A Report.</p>
<p>Announced debt financing during the year totaled $16.1 billion, 14% lower than $18.8 billion in 2024, and securitization deals totaled $3.4 billion across nine deals.</p>


August Energy Secures ₹1.3 Billion in Debt Financing from Aseem Infrastructure


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					</table><p>Gurugram-based renewable energy solutions provider <a href="https://sunsure-energy.com/" target="_blank" rel="noopener">Sunsure Energy</a> has raised ₹6.06 billion (~$65.64 million) in debt financing from <a href="https://aseeminfra.in/" target="_blank" rel="noopener">Aseem Infrastructure Finance</a> and <a href="https://www.rbl.bank.in/" target="_blank" rel="noopener">RBL Bank</a> to develop solar energy projects across Maharashtra and Uttar Pradesh.</p>
<p>The financing package includes ₹4.62 billion (~$50.02 million) from Aseem Infrastructure Finance for solar projects in Maharashtra and Uttar Pradesh, along with ₹1.44 billion (~$15.59 million) in refinancing from RBL Bank for Sunsure’s solar project in Augasi, Uttar Pradesh.</p>
<p>The joint funding would support the supply of over 242 MW of solar power to commercial and industrial (C&amp;I) consumers.</p>
<p>Shashank Sharma, Founder, Chairman, and CEO at Sunsure Energy, said that as the company expands across major industrial regions, including Maharashtra, Tamil Nadu, Rajasthan, Karnataka, and Uttar Pradesh, continued access to long-term institutional capital remains critical to building high-quality renewable assets.</p>
<p>Sunsure has operationalized 700 MW of renewable energy projects, and 7.1 GW is under various stages of development across Maharashtra, Uttar Pradesh, Tamil Nadu, Rajasthan, and Karnataka. It has set a target of installing 10 GW of renewable energy projects by 2030.</p>
<p>Last year, it <a href="https://www.mercomindia.com/radiance-and-sunsure-secure-%E2%82%B96-8-billion-funding-from-niif-ifl" target="_blank" rel="noopener">secured</a> ₹1.3 billion (~$14.8 million) from NIIF Infrastructure Finance to refinance its three operational captive solar projects for the C&amp;I segment in Uttar Pradesh.</p>
<p>Earlier this month, Sunsure Energy <a href="https://mercomindia.com/sunsure-to-supply-12-7-million-units-of-solar-power-to-auto-parts-firm-daeseung" target="_blank" rel="noopener">signed</a> power purchase agreements with Daeseung Autoparts India and Ilgahng Automotive to supply a cumulative of 12.7 million units of power annually from its 75 MW solar project in Tamil Nadu.</p>
<p>UltraTech Cement <a href="https://mercomindia.com/ultratech-cement-to-procure-solar-power-from-sunsures-14-mw-project" target="_blank" rel="noopener">signed</a> agreements with Sunsure Solarpark Thirty Eight to source power from its 14 MW solar project in Dhule, Maharashtra, during the month.</p>
<p>In January 2026, Delhi-based hospital chain Max Healthcare <a href="https://www.mercomindia.com/max-healthcare-signs-4-mw-solar-power-purchase-agreement-with-sunsure" target="_blank" rel="noopener">signed</a> a long-term power purchase agreement with Sunsure to procure 4 MW of power from the latter’s 15 MW solar project in Chitrakoot, Uttar Pradesh.</p>


Sunsure Raises ₹6 Billion in Debt Financing from Aseem Infra and RBL Bank


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-clearway-secures-over-1-billion/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Clearway Energy Group, a developer and operator of clean energy projects, </strong><a href="https://mercomcapital.com/clearway-secures-over-1-billion-in-corporate-credit-funding/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> over $1 billion in corporate credit funding</strong>, with Natixis Corporate and Investment Banking (Natixis CIB) acting as coordinating lead arranger and administrative agent for the financing. The funding consists of a $400 million revolving credit facility, a $350 million letter of credit facility, and a $169 million term loan. Natixis CIB also provided an additional $100 million letter of credit facility.</p>
<p><strong>Enfinity Global, a renewable energy project developer, </strong><a href="https://mercomcapital.com/enfinity-global-expands-structured-credit-facility-to-245-million/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the expansion of its structured credit facility in the U.S. to $245 million</strong>. Nomura was the lead arranger of the asset-based credit facility, with participation from other institutional investors. Proceeds from the funding will be used to finance Enfinity’s development and ready-to-build projects in the U.S.</p>
<p><strong>Japan-based financial services group ORIX Corporation has </strong><a href="https://www.mercomindia.com/orix-to-sell-17-5-stake-in-greenko-to-am-green-for-1-28-billion" target="_blank" rel="noopener"><strong>announced</strong></a><strong> it will reenter a share transfer agreement to divest part of its holdings in Hyderabad-based renewable energy company Greenko Energy Holdings to AM Green Power.</strong> The transaction involves selling 17.5% of its 20% stake in Greenko to Netherlands-based AM Green Power.  Following the transaction, ORIX’s shareholding in Greenko will stand at 2.5%.</p>
<p><strong>Melvan, a renewable energy producer and developer, <a href="https://mercomcapital.com/renewable-energy-producer-and-developer-melvan-raises-29-million/" target="_blank" rel="noopener">raised</a> €25 million (~$29.1 million) in funding from a consortium of investors.</strong> The funding round was led by Bpifrance, through its France Investissement Énergie Environnement 2 fund, and IDIA Capital Investissement, through its Crédit Agricole Energie &amp; Economie Bas Carbone I fund, as well as a pool of investors from the Crédit Agricole group, and OCCTE, through its FPCI OCCTE OCCIGEN fund.</p>
<p><strong>Solar module manufacturer Rayzon Solar has filed a draft red herring prospectus with the Securities and Exchange Board of India to </strong><a href="https://www.mercomindia.com/rayzon-solar-files-for-%E2%82%B915-billion-ipo-to-use-funds-for-cell-manufacturing" target="_blank" rel="noopener"><strong>raise</strong></a><strong> ₹15 billion (~$175 million)</strong> through an initial public offering of shares. The company will utilize up to ₹12.65 billion (~$147.5 million) of the net proceeds to invest in its wholly owned subsidiary, Rayzon Energy, and partly finance the development of a 3.5 GW TOPCon solar cell manufacturing plant in Surat, Gujarat.</p>
<p><strong>Non-banking financial company and lender to the renewable energy sector, Aseem Infrastructure Finance has </strong><a href="https://www.mercomindia.com/aseem-infrastructure-finance-secures-80-million-green-loan-from-dbs-bank" target="_blank" rel="noopener"><strong>secured</strong></a><strong> external commercial borrowing and a green loan amounting to $80 million (~₹6.88 billion) from DBS Bank.</strong> The funding will enable Aseem Infrastructure Finance to accelerate the development of renewable power projects across India. DBS Bank was the sole mandated lead arranger through its branch in the Gujarat International Finance Tec-City.</p>
<p><strong>Adani Electricity Mumbai, India, has concluded the open-market repurchase of its senior <a href="https://www.mercomindia.com/adani-electricity-mumbai-buys-back-49-5-million-debt-bonds#:~:text=Adani%20Electricity%20Mumbai%20(AEML)%20has,by%20AEML%20in%20February%202020." target="_blank" rel="noopener">secured</a> notes worth $49.5 million (~₹4.25 billion).</strong> The transaction is part of a senior secured note issue of $1 billion (~₹86.03 billion) at a coupon rate of 3.9%, secured by AEML in February 2020. The distribution company also confirmed its purchase notes were canceled after acquiring the senior secured notes. The repurchase was funded through Adani Electricity’s internal cash flows.</p>
<p><strong>Enviro Infra Engineers Renewables (EIE Renewables), a subsidiary of Enviro Infra Engineers, has </strong><a href="https://www.mercomindia.com/enviro-infra-acquires-49-stake-in-renewable-energy-firm-soltrix" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> a 49% equity stake in renewable energy company</strong> Soltrix Energy Solutions for ₹13.2 million (~$153,352). Soltrix has been awarded a contract for the engineering, procurement, and construction, and maintenance of a 29 MW solar power project for the Maharashtra State Electricity Distribution Company to be set up in the state.</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&#8217;s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-allume-energy-secures-4-6-million/" target="_blank" rel="noopener">roundup</a>.</p>


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