Fidra Energy Acquires 1 GW Battery Storage Project in the UK

Engineering Projects India Floats EPC Tender for 250 MW Solar Projects

Inox Wind’s Q4 FY26 Revenue Slips 2.4% YoY Amid Supply Chain Disruptions

Punjab Regulator Approves Tariff for Procurement of 4 MW Solar Power

Uttarakhand Retains Generic Tariff for Solar Projects for FY 2027

Uttarakhand Proposes Ancillary Services Framework to Strengthen Grid

Karnataka Proposes New Regulations for Distributed Solar Projects

Andhra Pradesh Clarifies Net Metering Rules for Older Rooftop Solar Projects

APTEL Sets Aside MERC Tariff Approval for 4 GWh Battery Storage Tender

Bengaluru Apartment Cuts Power Bills by 80% With 150 kW Rooftop Solar Project


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					</table><p>Corporate funding for energy storage companies, including venture capital investments, public market funding, and debt financing, <a href="https://www.mercomindia.com/energy-storage-firms-secure-2-3-billion-in-corporate-funding-in-q1-2026" target="_blank" rel="noopener">increased</a> 5% year-over-year in the first quarter of 2026, according to Mercom Capital Group’s newly released Q1 2026 Funding and M&amp;A Report for Energy Storage. Corporate funding for energy storage companies grew to $2.3 billion across 38 deals, compared to the $2.2 billion raised in 31 deals in Q1 2025.</p>
<p>As India’s solar market matures and policies <a href="https://www.mercomindia.com/solar-wind-battery-hybrid-systems-can-meet-up-to-90-of-electricity-demand" target="_blank" rel="noopener">increasingly</a> mandate minimum storage requirements, the commercial and industrial sector is steadily shifting toward solar-wind hybrid power projects integrated with battery energy storage systems to meet rising power demand, enable smarter energy dispatch, and support grid stability. Industry experts estimate that hybrid renewable energy systems combined with storage can offset 85%-90% of a consumer’s total power requirements.</p>
<p>The Securities and Exchange Board of India (SEBI) said renewable energy generation and supply projects <a href="https://www.mercomindia.com/sebi-says-renewable-projects-awarded-to-infrastructure-trusts-meet-ppp-criteria" target="_blank" rel="noopener">awarded</a> by public sector or government entities to special purpose vehicles of infrastructure investment trusts (InvITs) can be considered public-private partnership projects under the SEBI InvIT Regulations.</p>
<p>Terra Clean, a subsidiary of Indian Oil Corporation, <a href="https://www.mercomindia.com/terra-clean-invites-bids-for-power-evacuation-from-400-mw-solar-projects" target="_blank" rel="noopener">invited</a> bids to set up pooling substations and associated power evacuation systems for 400 MW solar power projects in Madhya Pradesh and Gujarat. The successful bidder will also be responsible for the projects’ operation and maintenance for five years.</p>
<p>The Solar Energy Corporation of India <a href="https://www.mercomindia.com/seci-issues-transformers-tender-for-700-mw-solar-project-in-gujarat" target="_blank" rel="noopener">invited</a> bids for engineering, design, manufacturing, testing, and supply of five 160 MVA, 220/33-33 KV power transformers for a 700 MW solar project at Radhanesda in Gujarat. The last date to submit bids is June 19, 2026. Bids will be opened on the same day.</p>
<p>Colombia’s electricity market and grid operator, XM, <a href="https://www.mercomindia.com/colombia-awards-1-8-gw-of-renewable-energy-projects-in-5th-auction" target="_blank" rel="noopener">awarded</a> 1,546.9 MW of solar and 246 MW of wind capacity under the Energy and Gas Regulatory Commission’s fifth Firm Energy Obligations auction. The awarded renewable energy capacity across 29 solar and 2 wind projects totaled 1,792 MW, accounting for 45% of the total awarded capacity of 4,069.7 MW, which also included hydroelectric and thermal power.</p>
<p>Annual solar installations <a href="https://www.mercomindia.com/solar-to-become-worlds-largest-power-source-by-2032-report" target="_blank" rel="noopener">rose</a> nearly ninefold from 75 GW in 2016 to 655 GW in 2025, with solar expected to become the largest zero-carbon power source by the end of this decade before overtaking all other generation sources by 2032. The findings are part of BloombergNEF’s New Energy Outlook 2026.</p>


Daily News Wrap-Up: Global Energy Storage Funding Reaches $2.3 Billion


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					</table><p>Colombia’s electricity market and grid operator, <a href="https://www.xm.com.co/" target="_blank" rel="noopener">XM</a>, has awarded 1,546.9 MW of solar and 246 MW of wind capacity under the Energy and Gas Regulatory Commission’s (<a href="https://creg.gov.co/" target="_blank" rel="noopener">CREG</a>) fifth Firm Energy Obligations (OEF) auction.</p>
<p>The awarded renewable energy capacity across 29 solar and two wind projects totaled 1,792 MW, accounting for 45%of all the awarded capacity of 4,069.7 MW, which also included hydroelectric and thermal power.</p>
<p>The market operator selected 77 of the 85 projects participating in the auction.</p>
<p>The auction allocated 143.01 GWh/day of firm energy obligations. Solar accounted for 11.06 GWh/day, or 7.7% of the total, while wind accounted for 76,358 kWh/day, or 0.1%.</p>
<p>CREG set two auction closing prices based on the variable costs of the participating projects. Projects with higher variable costs had a closing price of $16.4/MWh and $22/MWh for projects with lower variable costs.</p>
<p>XM will issue the OEF certificates to these projects on September 14, 2026.</p>
<p>Colombia is implementing a long-term electricity auction program offering 15-year pay-as-bid contracts from 2030 to reduce price volatility risks. It also hopes to ensure that power retailers meet the legal obligation that 10% of their electricity purchases come from non-conventional renewables.</p>
<p>While the contracts are scheduled to start from January 1, 2030, winning bidders can begin production earlier and extend the term of the power purchase agreements.</p>
<p>This April, Atlas Renewable Energy, a solar and wind project developer, <a href="https://www.mercomindia.com/atlas-renewable-energy-secures-121-million-for-solar-project" target="_blank" rel="noopener">secured</a> COP453.95 billion (~$121 million) in financing for the 99.9 MW El Campano solar project in Córdoba, Colombia, achieving financial close and enabling construction.</p>
<p>In February, Scatec, a renewable energy solutions provider, <a href="https://www.mercomindia.com/scatec-reaches-financial-close-for-130-mw-solar-project" target="_blank" rel="noopener">secured</a> financing for the 130 MW Barzalosa solar project in Colombia.</p>
<p>In 2022, the International Finance Corporation <a href="https://pressroom.ifc.org/All/Pages/PressDetail.aspx?ID=26957" target="_blank" rel="noopener">announced</a> an investment of $10 million in the form of preferred equity in Vatia, a Colombian electricity retailer and aggregator, to help improve access to cleaner energy.</p>


Colombia Awards 1.8 GW of Renewable Energy Projects in 5th Auction


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					</table><p><a href="https://www.atlasrenewableenergy.com/" target="_blank" rel="noopener">Atlas Renewable Energy</a>, a solar and wind project developer, has secured COP453.95 billion (~$121 million) in financing for the 99.9 MW El Campano solar project in Córdoba, Colombia, achieving financial close and enabling construction.</p>
<p>The financing package is structured under a project finance framework, combining private equity with long-term project finance debt. It includes a loan of COP292.1 billion (~$78 million) and a commercial credit of COP58.38 billion (~$16 million).</p>
<p>Financiera de Desarrollo Nacional and BBVA Corporate &amp; Investment Banking acted as lenders and issuers of letters of credit for the transaction, with BBVA also providing hedging solutions.</p>
<p>The El Campano project was awarded under Colombia’s 2024 Reliability Charge Auction and is being developed in partnership between Atlas Renewable Energy and ISAGEN. The project is supported by a long-term power purchase agreement. It is expected to begin commercial operations in the third quarter of 2027.</p>
<p>“The financial closing of El Campano Solar reflects our continued focus on executing strategic power generation projects in Colombia and delivering reliable, high-quality energy solutions for our customers,” said Rubén Borja, Country Manager for Atlas Renewable Energy in Colombia. “The continued support of leading financial institutions allows us to move forward with confidence as we advance into construction and contribute to the development of Colombia’s energy sector.”</p>
<p>Currently, the project employs 228 people, of whom over 130 are local workers.</p>
<p>In February 2026, Atlas <a href="https://mercomcapital.com/atlas-renewable-3-billion-refinancing-latin-american-portfolio/" target="_blank" rel="noopener">closed</a> approximately $3 billion in corporate refinancing, its largest to date for clean energy in Latin America.</p>
<p>Additionally, Atlas <a href="https://mercomcapital.com/atlas-renewable-energy-secures-financing-estepa-project/" target="_blank" rel="noopener">secured</a> $510 million in financing for the construction and development of the Estepa Project, a hybrid project consisting of a 215 MW solar project and two battery storage projects with a 418 MW capacity in Chile.</p>
<p>Large-scale solar project funding increased by 37% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2025-solar-funding-and-ma-report/">report</a>.</p>


Atlas Renewable Energy Secures $121 Million for El Campano Solar Project

<p><a href="https://scatec.com/" target="_blank" rel="noopener">Scatec</a>, a renewable energy solutions provider, secured financing for the 130 MW Barzalosa solar project in Colombia. In addition, the company has begun construction on the project, which is expected to reach commercial operation date in the first half of 2027.</p>
<p>Bancolombia and Financiera de Desarrollo Nacional (FDN) are the senior lenders for the project.</p>
<p>The Barzalosa solar project benefits from a previously signed 15-year power purchase agreement (PPA) with BTG Pactual Comercializadora de Energía (BTG), a Colombian energy trading subsidiary of Banco BTG Pactual S.A., Brazil. The PPA will cover approximately 85% of the estimated production, with the remaining production to be sold in the Colombian electricity market. The PPA will be denominated in Colombian Pesos and inflation-adjusted based on Colombia’s Producer Price Index.</p>
<p>Scatec owns 65% of the project&#8217;s equity, developed in partnership with Norfund, which owns the remaining equity. The total capital expenditure for the project is estimated at $121 million and will be financed by a combination of non-recourse debt and equity, with approximately 70% leverage.</p>
<p>“Financial close marks a key step in advancing the Barzalosa project in Colombia. With a robust financing structure and a long-term PPA in place with a strong offtaker, the project is well-positioned for construction and delivery. We are pleased to support Colombia’s transition towards clean energy,” says Terje Pilskog, CEO of Scatec.</p>
<p>The company is the lead developer of the project and will also be the engineering, procurement, and construction (EPC) provider, with the EPC scope of approximately 70% of the capital expenditure. Scatec will also be responsible for operations &amp; maintenance, and asset management services for the solar project.</p>
<p>Previously, in August, Scatec <a href="https://mercomcapital.com/scatec-secures-27-million-financing-for-142-mw-solar-project/" target="_blank" rel="noopener">secured</a> BRL 150 million (~$27 million) non-recourse project financing for the development of a 142 MW solar project in Minas Gerais, Brazil. The funding was provided by Banco de Nordeste do Brasil.</p>
<p>Large-scale solar project funding increased by 37% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>.</p>


Scatec Reaches Financial Close for 130 MW Solar Project


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					</table><p>Wind projects could shore up revenue and jobs for the economies of Argentina, Colombia, Egypt, Indonesia, and Morocco which have a combined potential of 3.5 GW, Global Wind Energy Council (<a href="https://gwec.net/" target="_blank" rel="noopener">GWEC</a>) said in a recent report.</p>
<p>These countries can generate additional revenues of  $12.5 billion and create 130,000 full-time equivalent work years over the next five years by tapping into the vast potential of wind energy.</p>
<p>However, these countries can achieve the full potential of wind capacity addition if they dismantle the barriers of policy frameworks, transmission infrastructure, and permitting programs. It would help them expedite their capacity addition and rake in higher benefits.</p>
<p><strong>Argentina</strong></p>
<p>Argentina has 3.3 GW of installed onshore wind capacity and is projected to install around 300 MW per year under normal circumstances from 2023 to 2027.</p>
<p>In an expedited scenario, Argentina could potentially install 31% more onshore wind energy capacity in the next five years.</p>
<p>This increase in wind energy capacity could lead to a 57% rise in full-time equivalent jobs, creating 64,000 new positions in the sector.</p>
<p>Additionally, it could contribute to a 45% increase in the country&#8217;s gross value, generating over $1 billion in additional economic activity.</p>
<p>To accelerate the shift towards wind energy, the report recommends several measures such as allowing revenue and profits from wind projects to be expatriated in dollars, incentivizing small and medium-sized decentralized projects through the RenovAr program, improving industry visibility by establishing an auction pipeline with a 3-4 year timeframe, and increasing coordination between grid development and future energy generation plans.</p>
<p><strong>Colombia</strong></p>
<p>Colombia has a mere 23 MW of installed onshore wind capacity, with GWEC projecting that it will install between 300-800 MW per year under a normal scenario from 2023 to 2027.</p>
<p>In an accelerated scenario, Colombia could install 44% more onshore wind energy capacity in the next five years. This increase in wind energy could lead to almost 150,000 new full-time equivalent jobs and a remarkable 77% increase in the country&#8217;s gross value, generating an extra $3 billion in economic activity.</p>
<p>To accelerate the shift towards wind energy, the report recommends improving industry visibility by establishing an auction pipeline with a 3-4 year timeframe, simplifying the permitting, environmental, and social licensing process, increasing government spending commitments directed at grid modernization and expansion, promoting a reliable operation and preventing bottlenecks, and continuing to strengthen dialogue between the government and renewable energy stakeholders.</p>
<p><strong>Egypt</strong></p>
<p>Egypt has 1,700 MW of installed onshore wind capacity, with GWEC forecasting that it will install between 250-700 MW per year under normal circumstances between 2023 to 2027.</p>
<p>In the expedited scenario, Egypt could potentially install 45% more onshore wind energy capacity in the next five years, representing an additional 1.15 GW, 164,000 full-time equivalent jobs, and potentially more than $2 billion for the economy.</p>
<p>To accelerate the transition towards wind energy, the report recommends that the government continue to increase or at least maintain the tariffs that support wind energy, accelerate the electrification of transport and industry, and increase interconnections between neighboring countries. Additionally, the report suggests allowing private offtake agreements for larger wind projects.</p>
<p><strong>Indonesia</strong></p>
<p>Indonesia has 150 MW of installed onshore wind capacity, with GWEC predicting an installation rate of around 75-100 MW per year under normal circumstances between 2023 to 2027.</p>
<p>However, under an accelerated transition scenario, Indonesia&#8217;s onshore wind energy capacity by 26% over the next five years, adding an extra 115 MW of green electricity and creating a sector that employs more than 50,000 people, an increase of 50%.</p>
<p>To accelerate the transition towards wind energy, the report recommends that the government commission a government-funded study to establish optimal locations for wind energy projects and ringfence those locations for wind development only.</p>
<p>It also suggests increasing government spending commitments directed towards grid modernization and expansion to promote a reliable operation and prevent bottlenecks. Finally, the report recommends promoting energy mix diversification and competitive procurement processes to ensure low-cost renewable energy supply meets decarbonization commitments.</p>
<p><strong>Morocco</strong></p>
<p>Morocco has 1,512 MW of installed onshore wind capacity and is expected to install about 200-510 MW per year under a business-as-usual scenario from 2023 to 2027.</p>
<p>However, under an accelerated transition scenario, Morocco could install 43% more onshore wind energy capacity in the next five years. This means the country could add an extra 638 MW of capacity, creating another 75,000 jobs and generating over $1 billion in additional economic activity.</p>
<p>To accelerate wind energy development in Morocco, some recommendations are to equalize grid costs for independent power producers and ONEE, allow wind and solar projects to share grid connection points, use Morocco&#8217;s green hydrogen targets to further incentivize wind energy production, and facilitate power purchase agreement matchmaking.</p>
<p>A previous report in early 2022 <a href="https://mercomindia.com/wind-can-pump-18-billion-gross-value/" target="_blank" rel="noopener">studied</a> the socioeconomic benefits for Brazil, India, Mexico, South Africa, and The Philippines. The study found that typically a 1 GW/year installation rate over five years could unlock $18 billion in gross value added to the national economies of these countries over wind farms&#8217; lifetime.</p>
<p>According to GWEC, onshore wind installations in India is <a href="https://mercomindia.com/onshore-wind-installations-in-india-forecasted/" target="_blank" rel="noopener">forecasted</a> at 4.1 GW in 2023.</p>


Expedited Wind Projects to Help Developing Economies Generate Revenue and Jobs

<p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>Tata Power </strong><a href="https://www.tatapower.com/media/PressReleaseDetails/1940/tata-power-signs-mou-with-naredco-to-install-5000-ev-charging-points-across-maharashtra" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a memorandum of understanding with the National Real Estate Development Council (NAREDCO), Maharashtra, to install up to 5,000 electric vehicle (EV) charging points</strong> across its member’s developer properties. Tata Power will provide a comprehensive EV charging solution across member developers of NAREDCO. This will include installation, maintenance, and up-gradation of the chargers as and when required. EV owners across NAREDCO&#8217;s member developers&#8217; properties will have access to 24&#215;7 vehicle charging, monitoring, and e-payments facilities through Tata Power’s EZ Charge mobile app. The chargers will be made available as public and semi-public charging stations based on the nature of the premises.</p>
<p><strong>California set a new record by meeting 99.87% of electricity demand from clean, renewable energy on April 30, 2022, according to the California Independent System Operator (</strong><a href="http://www.caiso.com/Pages/default.aspx" target="_blank" rel="noopener"><strong>ISO</strong></a><strong>).</strong> Momentarily, at 02:50 p.m. on April 30, the state’s energy demand was matched and met by renewable energy, a majority of it from solar. The California ISO is a non-profit public benefit corporation that provides comprehensive grid planning and open and non-discriminatory access to the networks of high-voltage transmission power lines.</p>
<p><a href="https://www.columbusglobal.com/en/" target="_blank" rel="noopener"><strong>Columbus</strong></a><strong>, a global IT services and consulting company, and the </strong><a href="https://indien.um.dk/en" target="_blank" rel="noopener"><strong>Danish Embassy</strong></a><strong> in India launched the “Digital Data Platform pilot for Efficient Management of Renewable Energy,” </strong>to be deployed at BSES Yamuna Power Limited (<a href="https://www.bsesdelhi.com/web/bypl/home" target="_blank" rel="noopener">BYPL</a>). The platform will facilitate BYPL in managing distributed energy resources in Delhi. The funding support was channelized through the Danish Embassy to optimize the storage and distribution of alternative energy sources. The digital solution brings together advanced cloud-based digital technologies to solve the real problems of the world. It will combine AI and Data Science techniques to predict the energy demand at consumption points like electric vehicle charging stations and energy generation capacity at solar rooftops, constantly assess the optimal energy storage requirements, and make informed decisions on when to discharge and consume energy from the power grid.</p>
<p><a href="https://tirexchargers.com/" target="_blank" rel="noopener"><strong>Tirex Chargers</strong></a><strong>, an Ahmedabad-based EV charger equipment manufacturer, partnered with the Kerala State Electricity Board (</strong><a href="https://www.kseb.in/index.php?lang=en" target="_blank" rel="noopener"><strong>KSEB</strong></a><strong>) to set up a chain of EV charging stations across the state.</strong> In partnership with KSEB, Tirex will set up 29 EV charging stations in Kerala, each equipped with multiple charging points with both AC and DC charging. Tirex won the contract for establishing the 29 EV charging stations. The startup is also exploring opportunities for setting up charging stations in other states. Of the 29 EV charging stations to be set up in Kerala, 12 stations have already been established. For the convenience of EV users, Tirex has also partnered with GOEC Autotech for an exclusive mobile app. The app will provide details of all 29 EV charging stations and the real-time availability of charging points.</p>
<p><strong>The International Finance Corporation (IFC) </strong><a href="https://pressroom.ifc.org/All/Pages/PressDetail.aspx?ID=26957" target="_blank" rel="noopener"><strong>announced</strong></a><strong> an investment of $10 million in the form of preferred equity in Vatia, a Colombian electricity retailer and aggregator</strong>, to help improve access to cleaner energy, contributing to the country&#8217;s climate commitments. IFC will also assist the company in obtaining financing of up to $36 million in long-term debt. IFC&#8217;s support would allow Vatia to acquire greenfield solar assets and strengthen its capital position, expanding and diversifying its generation capacity in Colombia. It is expected to help displace carbon-intensive and more expensive thermal generation, reducing around 55,000 tons of CO2 emissions annually. In addition, IFC&#8217;s investment will enable smaller businesses and commercial and industrial users to implement energy efficiency plans and additional savings.</p>


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