Mining Firm MOIL Invites Bids for 7 MW Solar Project in Maharashtra

IKEA’s Parent Company Invests in 210 MW Solar Project in Rajasthan

Spain Expands Grants for Energy Storage Projects to €840 Million

Solar Module Recycling Firm Beyond Renewables Secures ₹50 Million

Government Asserts Proposed Reforms Will Cut Cost of Electricity Supply

Gurugram Complex Cuts Power Bills with 185 kWp Rooftop plus BIPV Solar Project

Assam Invites Bids for 67 MW Rooftop Solar Projects Under PM Surya Ghar

Daily News Wrap-Up: InSolare Wins SECI’s 1.2 GWh BESS BoS Auction

Stem Misses Analysts’ Expectations Despite a 31% YoY Revenue Uptick

InSolare Bags Order to Supply BoS Package for 1.2 GWh BESS from SECI


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/10/amazon_polly_86120.mp3?version=1761736877">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Singapore-based renewable energy platform <a href="https://www.blueleafenergy.com/" target="_blank" rel="noopener">Blueleaf Energy</a> has signed an agreement with UK-based development finance institution and impact investor British International Investment (<a href="https://www.bii.co.uk/en/" target="_blank" rel="noopener">BII</a>) to invest $75 million in India’s energy transition.</p>
<p>Blueleaf said it will receive the funding from BII to continue investing in and expanding its renewable energy assets in India. This initiative aims to contribute approximately 2 GW of installed renewable energy capacity in the country. It includes utility-scale solar, wind, and energy storage projects with a potential clean energy generation capacity of more than 3.2 GWh.</p>
<p>The company stated that the agreement with BII also underscores the partners’ intent to expand their collaboration into Southeast Asia, supporting Blueleaf’s plans to deliver 10 GW of installed capacity across Asia.</p>
<p>“Our focus is on investments that de-risk projects, demonstrate viability, and encourage market participation to mobilize private capital into climate finance,” said Srini Nagarajan, Managing Director, Head of Asia at BII.</p>
<p>Blueleaf Energy is a pan-Asian renewable energy platform that develops, finances, owns, and operates onshore solar, wind, and storage projects across Southeast Asia, India, Taiwan, and Japan. Its pipeline includes over 4.5 GW of generation assets and nearly 3 GWh of storage projects.</p>
<p>Recently, Blueleaf and Noida-based Jakson Green <a href="https://www.mercomindia.com/blueleaf-jakson-reach-financial-close-for-840-mw-solar-projects" target="_blank" rel="noopener">announced</a> the financial close of 840 MW of ground-mounted solar projects in Bikaner, Rajasthan. This capacity comprises a 280 MW and a 560 MW project.</p>
<p>These projects are part of the $400 million 1 GW solar project portfolio in Rajasthan, for which Blueleaf and Jackson had <a href="https://www.mercomindia.com/blueleaf-energy-jakson-partner-on-1-gw-rajasthan-solar-projects" target="_blank" rel="noopener">partnered</a> in January this year. This portfolio also includes the under-construction 140 MW solar project in Bhawad, scheduled for commissioning in 2025.</p>
<p>In May this year, BII <a href="https://www.mercomindia.com/renew-secures-%E2%82%B98-7-billion-from-british-international-investment" target="_blank" rel="noopener">invested</a> ₹8.7 billion (~$100 million) in independent power producer ReNew Energy Global to fund the construction of a 4 GW TOPCon cell facility in Dholera, Gujarat. This transaction was BII’s first investment in solar manufacturing in India.</p>


Blueleaf, BII Sign $75 Million Agreement to Boost Renewable Energy in India


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/10/amazon_polly_85759.mp3?version=1761110005">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-lightsource-bp-financing-solar-project-2/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Lightsource bp, a renewable energy project developer, and Pinnacle Financial Partners </strong><a href="https://mercomcapital.com/lightsource-bp-secures-97-9-m-tax-equity-financing-187-mw-solar-project/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the closing of $97.9 million tax equity financing</strong> for the 187 MW Peacock Solar project located in San Patricio County, Texas. The partnership marks their second transaction and Pinnacle’s first production tax credit equity investment, reflecting the growing momentum in renewable energy financing in the U.S.</p>
<p><strong>Copenhagen Infrastructure Partners, a fund manager within greenfield energy investments, on behalf of its fund Copenhagen Infrastructure IV, has </strong><a href="https://mercomcapital.com/cip-sells-50-stake-in-coalburn-2-battery-project-to-aip-management/" target="_blank" rel="noopener"><strong>entered</strong></a> into an agreement to divest a 50% ownership stake in the Coalburn 2 project to funds managed by AIP Management, an investor that specializes in energy and decarbonization infrastructure. The Coalburn 2 project, located in South Lanarkshire, southern Scotland, is a 500 MW/1,000 MWh lithium-ion storage project currently under construction.</p>
<p><strong>Singapore-based renewable energy platform, Blueleaf Energy, and Noida-based Jakson Green have </strong><a href="https://www.mercomindia.com/blueleaf-jakson-reach-financial-close-for-840-mw-solar-projects" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the financial close</strong> of 840 MW ground-mounted solar projects in Bikaner, Rajasthan. This capacity comprises a 280 MW and a 560 MW project. These projects are part of the $400 million 1 GW solar project portfolio in Rajasthan, for which Blueleaf and Jackson had partnered in January this year. This portfolio also includes the under-construction 140 MW solar project in Bhawad, scheduled for commissioning this year.</p>
<p><strong>Aukera, a Europe-based renewable energy developer and independent power producer, has </strong><a href="https://mercomcapital.com/aukera-secures-16-million-financing-for-two-solar-projects/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €14 million (~$16.28 million) in senior financing</strong> for the development of its Erisweiler I and II solar projects, totaling 37.48 MW in Germany. Volksbank Sauerland eG provided the funding for the projects. Capcora acted as the exclusive financial advisor for the transaction.</p>
<p><strong>Greenflash, a Houston-based energy infrastructure company focused on the acquisition, development, financing, ownership, and operation of grid-scale energy assets</strong>, <a href="https://mercomcapital.com/greenflash-acquires-200-mw-400-mwh-battery-storage-project-in-texas/" target="_blank" rel="noopener">announced</a> the acquisition of the 200 MW/400 MWh Rock Rose stand-alone battery energy storage project. The project was acquired from Advanced Power, a renewable energy project developer that owns and operates solar and storage projects. The project, located in Fort Bend County, Texas, is expected to receive Notice to Proceed in 2026 and commence commercial operations by mid-2027.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-eolian-financing-bess-project/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Lightsource bp Secures Tax Equity Financing for 187 MW Solar Project


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/10/amazon_polly_85666.mp3?version=1760680939">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Singapore-based renewable energy platform, <a href="https://www.blueleafenergy.com/" target="_blank" rel="noopener">Blueleaf Energy,</a> and Noida-based <a href="https://www.jakson-green.com/" target="_blank" rel="noopener">Jakson Green</a> have announced the financial close of 840 MW ground-mounted solar projects in Bikaner, Rajasthan. This capacity comprises a 280 MW and a 560 MW project.</p>
<p>These projects are part of the $400 million 1 GW solar project portfolio in Rajasthan, for which Blueleaf and Jackson had <a href="https://www.mercomindia.com/blueleaf-energy-jakson-partner-on-1-gw-rajasthan-solar-projects" target="_blank" rel="noopener">partnered</a> in January this year. This portfolio also includes the under-construction 140 MW solar project in Bhawad, scheduled for commissioning this year.</p>
<p>These projects target generating over 1,800 GWh of renewable energy annually. The partnership aims to add over 5 GW of renewable energy capacity to India’s grid by 2030.</p>
<p>The 280 MW solar project holds a 25-year power purchase agreement (PPA) with the Solar Energy Corporation of India, and the 560 MW project has a PPA with NHPC for the same period. The projects will feed energy into the Bikaner-III interstate transmission system.</p>
<p>Blueleaf said this financial close was secured with Axis Bank, and marks the completion of the funding for the entire portfolio.</p>
<p>Blueleaf Energy is a pan-Asian renewable energy platform that develops, finances, owns, and operates onshore solar, wind, and storage projects, operating in Southeast Asia, India, Taiwan, and Japan. Its pipeline includes over 4.5 GW of generation assets and nearly 3 GWh of storage projects.</p>
<p>In August 2024, Blueleaf <a href="https://www.mercomindia.com/blueleaf-secures-170-million-for-200-mw-wind-solar-project" target="_blank" rel="noopener">secured</a> approximately $170 million for its 200 MW wind-solar hybrid power project under development in Madhya Pradesh. The project, expected to start operations this year, is estimated to produce over 600 GWh of energy annually.</p>
<p>Jakson Green has a global solar engineering, procurement, and construction portfolio of a capacity of over 5 GW and more than 1 GW of assets under development. The company also invests in developing green hydrogen, ethanol, and low-carbon methanol projects.</p>
<p>In 2024, the company <a href="https://www.mercomindia.com/jakson-green-credit-facility-first-abu-dhabi-bank" target="_blank" rel="noopener">secured</a> a ₹2.96 billion (~$35.36 million) credit facility from First Abu Dhabi Bank (Mumbai) to support its international expansion, starting with a solar photovoltaic and battery storage project in Uzbekistan.</p>


Blueleaf, Jakson Reach Financial Close for 840 MW Solar Projects


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/01/amazon_polly_75924.mp3?version=1738315538">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://www.blueleafenergy.com/" target="_blank" rel="noopener">Blueleaf Energy</a>, a Singapore-based renewable energy platform, has partnered with Noida-based <a href="https://www.jakson-green.com/" target="_blank" rel="noopener">Jakson Green</a> to invest $400 million to develop 1 GW solar projects in Rajasthan.</p>
<p>The project aims to generate over 1,800 GWh of renewable energy annually, meeting the energy needs of over 1.5 million Indian households.</p>
<p>It is expected to reduce over 22 million tons of CO2 emissions.</p>
<p>The project is funded through debt and equity and comprises three solar projects. These projects include inter-state and intra-state transmission systems with 25-year power purchase agreements secured with the Solar Energy Corporation of India, NHPC, and Rajasthan Urja Vikas Nigam.</p>
<p>The projects will likely be commissioned between 2025 and 2026 on a build-own-operate model.</p>
<p>Raghuram Natarajan, CEO, Blueleaf Energy, said the partnership aims to add over 5 GW of renewable energy capacity to India’s grid by 2030.</p>
<p>Blueleaf Energy has developed over 2 GW of renewable capacity globally, including 500 MW projects in the Asia-Pacific region. It has a development pipeline of more than 7 GW of solar, wind, and storage projects.</p>
<p>Jakson Green has a global solar engineering, procurement, and construction portfolio of a capacity of over 5 GW and more than 1 GW of assets under development. The company also invests in developing green hydrogen, ethanol, and low-carbon methanol projects.</p>
<p>In August 2024, Blueleaf <a href="https://www.mercomindia.com/blueleaf-secures-170-million-for-200-mw-wind-solar-project" target="_blank" rel="noopener">secured</a> approximately $170 million for its 200 MW wind-solar hybrid power project under development in Madhya Pradesh. The project, expected to start operations this year, is estimated to produce over 600 GWh of energy annually.</p>
<p>In May 2023, the Philippine government <a href="https://www.mercomindia.com/philippines-610-mw-floating-solar-project" target="_blank" rel="noopener">awarded</a> Blueleaf Energy and SunAsia Energy contracts to construct and manage what is claimed to be the world’s largest floating solar project, with a combined capacity of 610.5 MW. Blueleaf Energy and SunAsia Energy will collaborate to construct a floating solar installation on Laguna Lake, which extends across Calamba, Santa Rosa, Cabuyao, Bay, and Victoria.</p>


Blueleaf Energy, Jakson Partner on 1 GW Rajasthan Solar Projects


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/08/amazon_polly_69144.mp3?version=1723610634">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-matrix-renewables-financing-projects/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Matrix Renewables, a global renewable energy company, </strong><a href="https://mercomcapital.com/matrix-renewables-secures-financing-for-240-mw-solar-projects-in-spain/" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a €50 million (~$54.74 million) green loan with the European Investment Bank</strong> to support the development and construction of five solar projects in Spain. With a total installed capacity of 240 MW, the projects are located in Castilla y Leon and Extremadura. The projects are expected to reach commercial operations by the end of 2025.</p>
<p><strong>CleanCapital, a mid-market renewables project financing group, </strong><a href="https://mercomcapital.com/cleancapital-acquires-13-mw-solar-projects/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of two fully operational solar projects totaling 13 MW</strong>. BQ Energy Development has developed projects that supply clean energy to a local university, healthcare provider, and municipality in upstate New York. Both projects are financed by M&amp;T Bank’s Commercial Equipment Finance Group.</p>
<p><strong>JERA Nex, a renewable energy company headquartered in London and launched by JERA, </strong><a href="https://mercomcapital.com/jera-nex-acquires-395-mw-solar-projects-from-lightsource-bp/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of two solar projects</strong> with a total capacity of 395 MW from Lightsource bp, a solar and energy storage project developer. The portfolio comprises the 300 MW Oxbow solar project in Louisiana and the 95 MW Happy solar project in Arkansas. Both projects are in commercial operation.</p>
<p><strong>Summit Ridge Energy, a community solar project owner and operator, and HASI, an investor in climate solutions, </strong><a href="https://mercomcapital.com/summit-ridge-energy-and-hasi-secure-term-loan-on-community-solar-portfolio/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> a $309 million back-leveraged term loan on a portfolio</strong> of 80 operating community solar projects. Summit Ridge Capital Holdings, a joint venture between Summit Ridge Energy and HASI, owns the projects. The portfolio, built by Summit Ridge over the last five years, includes ground-mount and rooftop community solar projects with a total capacity of 216 MW.</p>
<p><strong>Origis Energy, the provider of a vertically integrated renewable energy platform and a solar project developer, </strong><a href="https://mercomcapital.com/origis-energy-secures-71-million-tax-equity-financing/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the close of $71 million in tax equity financing</strong> for the development of the 75 MW Rice Creek Solar project in Florida. The tax equity financing was secured from U.S. Bank subsidiary U.S. Bancorp Impact Finance, a renewable energy investor.</p>
<p><strong>Renewable energy platform Blueleaf Energy </strong><a href="https://www.mercomindia.com/blueleaf-secures-170-million-for-200-mw-wind-solar-project" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the financial closure of its 200 MW wind-solar hybrid power project under development in Madhya Pradesh, India</strong>. The company has secured around $170 million in financing from Axis Bank for the Pachora hybrid power project and grid access at the Pachora Inter-State Transmission System substation.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-orlen-group-solar-project-portfolio-poland/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Matrix Renewables Secures Financing for 240 MW Solar Projects


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/08/amazon_polly_68969.mp3?version=1749619426">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Renewable energy platform <a href="https://www.blueleafenergy.com/" target="_blank" rel="noopener">Blueleaf Energy</a> announced the financial closure of its 200 MW wind-solar hybrid power project under development in Madhya Pradesh.</p>
<p>The company has secured around $170 million in financing from <a href="https://www.axisbank.com/" target="_blank" rel="noopener">Axis Bank</a> for the Pachora hybrid power project and grid access at the Pachora Inter-State Transmission System (ISTS) substation.</p>
<p>The project, which is expected to start operations in 2025, is estimated to produce over 600 GWh of energy a year.</p>
<p>Blueleaf Energy is a pan-Asian firm that develops, finances, owns, and operates renewables and storage assets to accelerate the energy transition towards net zero and beyond. It has a development pipeline of solar, wind, and storage projects of more than 7 GW.</p>
<p>Blueleaf Energy India Country Head Pratyush Thakur said, &#8220;The Pachora Hybrid Power Project will be Blueleaf&#8217;s first utility-scale initiative in India. The project&#8217;s offtake has been structured innovatively, unbundling the environmental and energy components. Environmental attributes, in the form of International Renewable Energy Certificates (I-RECs), will be supplied to a large international tech company, while power without attributes will be delivered to a leading Indian power trader.&#8221;</p>
<p>Ganesh Sankaran, Group Executive and Head of Wholesale Banking Coverage Group, Axis Bank, said, &#8220;Axis Bank is glad to partner with Blueleaf Energy on its first greenfield 200 MW wind-solar hybrid power project in India. Our focus is to scale business activities to support India&#8217;s sustainable and equitable transition to a green economy. We are constantly exploring specialized products and services that are in line with the SDGs and climate action and adapting to emerging regulatory guidance and market practices.&#8221;</p>
<p>In May 2023, Blueleaf Energy and SunAsia Energy were <a href="https://www.mercomindia.com/philippines-610-mw-floating-solar-project" target="_blank" rel="noopener">awarded</a> contracts by the Philippine government to construct and manage what is claimed to be the world&#8217;s largest floating solar project with a combined capacity of 610.5 MW.</p>


Blueleaf Secures $170 Million for 200 MW Wind-Solar Project in Madhya Pradesh


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/05/amazon_polly_53804.mp3?version=1683875025">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://www.blueleafenergy.com/" target="_blank" rel="noopener">Blueleaf Energy</a> and <a href="http://sunasiaenergy.com/" target="_blank" rel="noopener">SunAsia Energy</a> have been awarded contracts by the Philippine government to construct and manage what is claimed to be the world’s largest floating solar project with a combined capacity of 610.5 MW.</p>
<p>The move is viewed as a milestone in the country’s energy sector with the issuance of Solar Energy Operating Contracts (SEOCs) by the Department of Energy (DOE) for a cumulative capacity of 1.3 GW in floating solar projects.</p>
<p>Blueleaf Energy and SunAsia Energy will collaborate on the construction of a sizable floating solar installation on Laguna Lake, which extends across the developing urban cities of Calamba, Sta. Rosa and Cabuyao, as well as the towns of Bay and Victoria.</p>
<p>At the contract turnover ceremonies, Energy Secretary Raphael Lotilla restated his commitment to enhancing the renewable energy sector and declared the DOE&#8217;s unwavering support for commercializing floating solar facilities as an emerging technology.</p>
<p>Blueleaf Energy CEO, Raghuram Natarajan, said that the Philippines holds great potential to add significant renewable energy capacity to its energy mix and, at the same time, deliver green energy at an affordable cost compared to fossil fuels.</p>
<p>Natarajan also noted that removing foreign ownership restrictions is an important step in attracting much-needed foreign direct investments in the Philippine renewable energy sector to accelerate the country&#8217;s energy transition to meet decarbonization and net-zero targets.</p>
<p>Emphasizing cooperation among public and private stakeholders to ensure the successful development of the project, Natarajan added that this project would contribute to the country&#8217;s renewable energy goals and spark green job growth locally during construction and long-term operations.</p>
<p>Blueleaf Energy has developed and built almost 2 GW of solar capacity globally, including 250 MW in the Philippines.</p>
<p>SunAsia Energy&#8217;s President and CEO, Tetchi Capellan, pointed out that there is a strong incentive to build floating solar projects on the water as land use is becoming a big issue for renewables.</p>
<p>SunAsia Energy has been operating a testbed on Laguna Lake since 2019, aiming to contribute to the growing knowledge of floating solar panels on the lake.</p>
<p>SunAsia Energy has partnered with various entities to develop solar projects since its inception in 2013, including the 60 MW Toledo solar project in Cebu and the 20 MW Dagupan solar project in Pangasinan.</p>
<p>In June 2022, the Philippines’ DOE <a href="https://www.mercomindia.com/philippines-awards-renewables-under-green-energy-auction" target="_blank" rel="noopener">awarded</a> 19 contracts to develop 1.57 GW of renewable energy projects under the first round of the 2 GW Green Energy Auction Program. The auction was held for solar, hydro, wind, and biomass projects in the country’s Luzon, Visayas, and Mindanao regions.</p>
<p>Earlier in February, through its Green Energy Auction program, the department <a href="https://www.mercomindia.com/philippines-launches-tender-renewables" target="_blank" rel="noopener">launched</a> an auction to allocate 2 GW of renewable energy capacity across its three main power territories.</p>


Philippines Awards Contracts for 610 MW Floating Solar Project

<p><a href="https://www.blueleafenergy.com/" target="_blank" rel="noopener noreferrer">Blueleaf Energy</a>, a Singapore-based renewable energy company, announced that it acquired a majority stake in an Indian clean energy solutions provider, <a href="https://www.vibrantenergyholdings.com/" target="_blank" rel="noopener noreferrer">Vibrate Energy Holdings</a>, from <a href="https://atni.com/" target="_blank" rel="noopener noreferrer">ATN International</a>.</p>
<p>Blueleaf Energy specializes in the development, finance, construction, and operation of both commercial and industrial (C&amp;I) and utility-scale solar systems across the Asia Pacific region. Blueleaf Energy also actively acquires and develops onshore wind and battery storage projects.</p>
<p>BlueLeaf Energy would combine its global consumer base and technical expertise with Vibrant Energy’s strong project pipeline and local knowledge through this acquisition. The company, owned by Macquarie’s Green Investment Group (<a href="https://www.greeninvestmentgroup.com/" target="_blank" rel="noopener noreferrer">GIG</a>), stated that the acquisition would provide commercial and industrial consumers an opportunity to manage their energy needs and achieve decarbonization targets.</p>
<p>“With the acquisition of Vibrant Energy, we have secured a talented team and an impressive development pipeline in one of the significant markets for the solar energy industry,” said Sol Proops, Interim Chief Executive Officer of Blueleaf Energy.</p>
<p>According to the press statement, Vibrant Energy Holdings has 66 MW of operational solar projects, and another 400 MW of solar projects are under pipeline across India.</p>
<p>“The acquisition positions Vibrant Energy to become an innovative commercial and industrial platform in India by cross-leveraging the expertise of BlueLeaf and ATN. With the guidance of BlueLeaf, Vibrant aims to lead the transition of C&amp;I consumers to a sustainable future,” said Srini Viswanathan, Chief Executive Officer of Vibrant Energy Holdings. BlueLeaf Energy said it has so far developed and operated around 2 GW of solar projects worldwide, which also includes over 500 MW of solar projects in the Asia Pacific region.</p>
<p>According to Mercom’s <a href="https://mercomcapital.com/product/9m-q3-2020-solar-funding-ma-report/" target="_blank" rel="noopener noreferrer">9M and Q3 Solar Funding and M&amp;A Report</a>, 42 corporate solar mergers and acquisitions (M&amp;A) transactions (11 disclosed for $7 billion) were announced across the globe in the first nine months of 2020, compared to 57 transactions (ten disclosed for $600 million) in 9M 2019. In the third quarter of 2020, 17 solar M&amp;A transactions were executed (five disclosed for $6.8 billion) compared to 13 transactions in the last quarter.</p>
<p>In August 2020, Malaysia-based Yinson Holdings Berhad <a href="https://mercomindia.com/yinson-increases-stake/" target="_blank" rel="noopener noreferrer">announced</a> that it would acquire an additional 57.5% equity interest in Rising Sun Energy Private Limited, an Indian company engaged in solar development.</p>
<p>Earlier this year, Orix Corporation, a Japan-based financial services group, <a href="https://mercomindia.com/orix-acquire-stake-greenko/" target="_blank" rel="noopener noreferrer">announced</a> that it had signed a framework agreement with renewable energy project developer Greenko Energy Holdings to acquire approximately 20% of its shares.</p>


blueleaf-energy

Get the most relevant India solar and clean energy news.

RECENT POSTS