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Daily News Wrap-Up: MNRE Proposes Uniform Solar Cell Nomenclature

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Solar Tender and Auction Activity Declines in Q2 2026

MNRE Proposes Standardized Nomenclature for Solar Cells Under ALMM List II

India Can Build a Complete Solar Manufacturing Ecosystem Within Five Years: Interview

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					</table><a href="https://www.ekuenergy.com/en" target="_blank" rel="noopener">Eku Energy</a>, a company that develops, builds, and manages energy storage assets, has entered the German market with its first project, the 400 MW/1,600 MWh Dion battery energy storage project in the municipality of Lamspringe, Lower Saxony.
According to the company, the project is in an advanced stage of development and has signed a development services agreement with German project developer NION, which developed this project.
Under the agreement, NION will continue developing the project until it reaches the ready-to-build stage, while Eku Energy will lead the project&#8217;s development, design, and technology.
The project is expected to be commissioned by the end of 2029.
Eku Energy will also work with Fluence, its lithium-iron-phosphate battery technology supply partner, during the project&#8217;s development.
Erin Lee, Chief Financial Officer of Eku Energy, said, &#8220;Eku Energy&#8217;s core strength lies in combining technological expertise with deep commercialization experience. In our multi-use projects, we combine long-term offtake agreements with our battery assets&#8217; participation in power exchange markets. This expertise in contracts and storage technology delivers greater revenue resilience and visibility for our projects.&#8221;
Eku Energy is jointly owned by the British Columbia Investment Management Corporation and a fund managed by Macquarie Asset Management, which manages A$722 billion (~$498 billion) in assets under management.
The company said it has more than 25 GWh of battery energy storage projects under delivery across Australia, Japan, New Zealand, the United Kingdom, and Italy.
In May 2026, GridStor, a developer and operator of utility-scale battery energy storage projects, <a href="https://mercomcapital.com/gridstor-acquires-199-mw-colorado-battery-storage-project-from-accelergen/" target="_blank" rel="noopener">acquired</a> the 199 MW/796 MWh Birdseye battery storage project in Adams County, Colorado, from Accelergen.
A total of 7.2 GW of energy storage projects were acquired in Q1 2026, a 227% increase compared to the 2.2 GW in Q1 2025, according to Mercom&#8217;s recently released Q1 2026 Energy Storage Funding and M&amp;A <a href="https://mercomcapital.com/product/q1-2026-funding-ma-report-energy-storage/" target="_blank" rel="noopener">report</a>. A growing share of acquisitions included standalone battery storage and hybrid solar-plus-storage projects.

Eku Energy Acquires 400 MW Battery Energy Storage Project in Germany

Solar Landscape, a U.S.-based commercial rooftop solar developer, <a href="https://cms.mercomindia.com/solar-landscape-secures-175m-financing-rooftop-solar-projects/" target="_blank" rel="noopener">announced</a> a $175 million long-term partnership with PGIM Private Capital, a private capital arm of PGIM, to finance its growing portfolio of projects that feed electricity directly into the distributed grid, initially across Maryland and Illinois. The partnership, in the form of an institutional shelf debt facility, will finance the construction and operation of 74 solar landscape projects on commercial rooftops in the two states.
Eku Energy, an energy storage project developer, <a href="https://cms.mercomindia.com/eku-energy-secures-financing-99-mw-198-mwh-battery-storage-project/" target="_blank" rel="noopener">secured</a> more than £45 million (~$59 million) debt financing to construct a 99 MW/198 MWh battery energy storage project at Ocker Hill, between the towns of Dudley and Wednesbury in the West Midlands in England. NatWest Bank and Sumitomo Mitsui Banking Corporation provided the project’s financing. Construction is expected to begin next month and will be completed in late 2026.
Ignitis Renewables, a green energy company, <a href="https://cms.mercomindia.com/ignitis-renewables-secures-239-mw-solar-projects/" target="_blank" rel="noopener">secured</a> a €77.5 million (~$87.24 million) loan from Swedbank Lithuania and Swedbank Latvia for developing and constructing solar projects of 239 MW capacity in Stelpe and Vārme in Latvia. The banks granted funds in equal amounts. The solar projects are currently under development and are expected to reach commercial operation within this year.
Aypa Power, a Blackstone portfolio company and developer of utility-scale energy storage and hybrid renewable energy projects, <a href="https://cms.mercomindia.com/aypa-power-secures-535-million-for-320-mw-solar-and-storage-project/" target="_blank" rel="noopener">announced</a> closing $535 million in debt financing to support the development of the 320 MW Vidal solar-plus-storage project in San Bernardino County, California. The hybrid project, scheduled to come online in 2026, has a long-term power purchase agreement with the San Diego Community Power.
Thrive Renewables, a renewable energy investment company, <a href="https://cms.mercomindia.com/thrive-renewables-acquires-14-mw-solar-project/" target="_blank" rel="noopener">announced</a> the acquisition of the 14 MW Dunmow solar project in Essex, U.K., from PS Renewables, a renewable energy project developer. The project’s construction is completed, and commercial operation is expected to begin in May. With new project development rights secured, the company’s total capacity is expected to increase from 91.5 MW to 170.1 MW by 2027.
Click <a href="https://cms.mercomindia.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.
Read last week&#8217;s project finance <a href="https://cms.mercomindia.com/project-finance-brief-pivot-energy-community-solar-portfolio/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Solar Landscape Secures $175 Million Financing for Rooftop Solar Projects

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-solar-landscape-financing-rooftop-projects/" target="_blank" rel="noopener">Mercom Capital Group</a>
Solar Landscape, a U.S.-based commercial rooftop solar developer, <a href="https://mercomcapital.com/solar-landscape-secures-175m-financing-rooftop-solar-projects/" target="_blank" rel="noopener">announced</a> a $175 million long-term partnership with PGIM Private Capital, a private capital arm of PGIM, to finance its growing portfolio of projects that feed electricity directly into the distributed grid, initially across Maryland and Illinois. The partnership, in the form of an institutional shelf debt facility, will finance the construction and operation of 74 solar landscape projects on commercial rooftops in the two states.
Eku Energy, an energy storage project developer, <a href="https://mercomcapital.com/eku-energy-secures-financing-99-mw-198-mwh-battery-storage-project/" target="_blank" rel="noopener">secured</a> more than £45 million (~$59 million) debt financing to construct a 99 MW/198 MWh battery energy storage project at Ocker Hill, between the towns of Dudley and Wednesbury in the West Midlands in England. NatWest Bank and Sumitomo Mitsui Banking Corporation provided the project’s financing. Construction is expected to begin next month and will be completed in late 2026.
Ignitis Renewables, a green energy company, <a href="https://mercomcapital.com/ignitis-renewables-secures-239-mw-solar-projects/" target="_blank" rel="noopener">secured</a> a €77.5 million (~$87.24 million) loan from Swedbank Lithuania and Swedbank Latvia for developing and constructing solar projects of 239 MW capacity in Stelpe and Vārme in Latvia. The banks granted funds in equal amounts. The solar projects are currently under development and are expected to reach commercial operation within this year.
Aypa Power, a Blackstone portfolio company and developer of utility-scale energy storage and hybrid renewable energy projects, <a href="https://mercomcapital.com/aypa-power-secures-535-million-for-320-mw-solar-and-storage-project/" target="_blank" rel="noopener">announced</a> closing $535 million in debt financing to support the development of the 320 MW Vidal solar-plus-storage project in San Bernardino County, California. The hybrid project, scheduled to come online in 2026, has a long-term power purchase agreement with the San Diego Community Power.
Thrive Renewables, a renewable energy investment company, <a href="https://mercomcapital.com/thrive-renewables-acquires-14-mw-solar-project/" target="_blank" rel="noopener">announced</a> the acquisition of the 14 MW Dunmow solar project in Essex, U.K., from PS Renewables, a renewable energy project developer. The project’s construction is completed, and commercial operation is expected to begin in May. With new project development rights secured, the company’s total capacity is expected to increase from 91.5 MW to 170.1 MW by 2027.
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.
Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-pivot-energy-community-solar-portfolio/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.ekuenergy.com/" target="_blank" rel="noopener">Eku Energy</a>, an energy storage project developer, secured more than £45 million (~$59 million) debt financing to construct a 99 MW/198 MWh battery energy storage project located at Ocker Hill, between the towns of Dudley and Wednesbury in the West Midlands.
NatWest Bank and Sumitomo Mitsui Banking Corporation (SMBC) provided financing.
Construction is expected to begin next month and will be completed in late 2026. The project will utilize 54 Tesla Megapacks and be built by H&amp;MV Engineering, the balance of the plant contractor.
Under a 10-year agreement, SmartestEnergy, a wholly owned subsidiary of Marubeni Corporation, will provide the tolling.
In addition to financing for the project, SMBC and NatWest have provided an uncommitted accordion facility of £100 million (~$132.12 million) to support the company&#8217;s near-term U.K. projects, including some of the recently announced under-development projects resulting from the acquisition of the Bluestone Energy battery energy storage system portfolio. The portfolio includes seven planned battery storage projects with a combined capacity of 1 GW/2 GWh.
Daniel Burrows, Chief Executive Officer at Eku Energy, said, &#8220;Eku Energy&#8217;s growing portfolio in the United Kingdom reflects our commitment to deliver safe, secure, and reliable energy storage solutions that will provide cost-effective clean energy. By securing strong financial backing from NatWest Bank and Sumitomo Mitsui Banking Corporation for the Ocker Hill BESS and partnering with Tesla and SmartestEnergy, we are continuing to expand our role in building a more flexible and resilient energy system for the United Kingdom.&#8221;
In November 2024, the company announced that it reached financial <a href="https://cms.mercomindia.com/eku-energy-secures-financing-for-250-mw-williamsdale-energy-storage-project/" target="_blank" rel="noopener">closure</a> for its 250 MW/500 MWh Williamsdale battery energy storage system located in the Australian Capital Territory (ACT). Tesla will supply Megapack technology for the project.
According to Mercom&#8217;s Q1 2025 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2025-funding-ma-report-energy-storage/" target="_blank" rel="noopener">Report</a> for Energy Storage and Smart Grid, announced Energy Storage project funding in 2025 increased 142% year-over-year.

Eku Energy Secures Financing for 99 MW/198 MWh Battery Storage Project

EDP, a renewable energy power producer, <a href="https://cms.mercomindia.com/edp-acquires-44-mw-solar-project-portfolio-in-brazil/" target="_blank" rel="noopener">announced</a> the acquisition of 16 solar projects from Tangipar Group, a solar energy company in Brazil. The projects in Bahia, Mato Grosso, Mato Grosso do Sul, and Paraná, have a total capacity of 44.3 MW. Five of the 16 projects have already been completed, with the remaining ones expected to be operational by 2025. The planned operational capacities include 10.9 MW in Bahia, 12.5 MW in Mato Grosso, 12.9 MW in Mato Grosso do Sul, and 7.7 MW in Paraná.
Westbridge Renewable Energy (Westbridge), a Canada-based solar project developer, <a href="https://cms.mercomindia.com/westbridge-sells-332-mw-sunnynook-solar-project-in-alberta/" target="_blank" rel="noopener">announced</a> that it closed the sale of its 75%-owned 332 MWp Sunnynook solar project in Alberta. A subsidiary of METLEN Energy &amp; Metals, formerly known as Mytilineos, acquired the solar project. The Sunnynook project is the second to reach the ready-to-build stage in 2024. METLEN will build the solar project.
SSE Renewables, a developer specializing in renewable energy projects, <a href="https://cms.mercomindia.com/sse-acquires-120-mw-240-mwh-battery-storage-project-in-ireland/" target="_blank" rel="noopener">announced</a> that it has acquired the project development rights for a 120 MW/240 MWh grid-scale battery energy storage system (BESS) in Ireland from Low Carbon, a U.K.-based renewable energy firm. Under the deal, SSE acquired the Thornsberry BESS project in County Offaly from Grid Systems Services, a battery storage project developer owned by Low Carbon.
Eku Energy, an energy storage project developer, <a href="https://cms.mercomindia.com/eku-energy-secures-financing-for-250-mw-williamsdale-energy-storage-project/" target="_blank" rel="noopener">announced</a> that it reached financial closure for its 250 MW/500 MWh Williamsdale battery energy storage system located in the Australian Capital Territory (ACT). Tesla will supply Megapack technology for the project. Consolidated Power Projects will supply the Balance of Plant as Eku Energy’s appointed construction partner and Eku Energy will manage the project. The project is a part of the ACT Government’s Big Canberra Battery project, connecting to the Evoenergy electricity distribution network.
Click <a href="https://cms.mercomindia.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.
Read last week&#8217;s project finance <a href="https://cms.mercomindia.com/project-finance-brief-primergy-secures-225-million-financing-valley-fire-portfolio/" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: EDP Acquires 44 MW Solar Project Portfolio in Brazil

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					</table>From: <a href="https://mercomcapital.com/project-finance-brief-edp-acquires-solar-project-brazil/" target="_blank" rel="noopener">Mercom Capital Group</a>
EDP, a renewable energy power producer, <a href="https://mercomcapital.com/edp-acquires-44-mw-solar-project-portfolio-in-brazil/" target="_blank" rel="noopener">announced</a> the acquisition of 16 solar projects from Tangipar Group, a solar energy company in Brazil. The projects in Bahia, Mato Grosso, Mato Grosso do Sul, and Paraná, have a total capacity of 44.3 MW. Five of the 16 projects have already been completed, with the remaining ones expected to be operational by 2025. The planned operational capacities include 10.9 MW in Bahia, 12.5 MW in Mato Grosso, 12.9 MW in Mato Grosso do Sul, and 7.7 MW in Paraná.
Westbridge Renewable Energy (Westbridge), a Canada-based solar project developer, <a href="https://mercomcapital.com/westbridge-sells-332-mw-sunnynook-solar-project-in-alberta/" target="_blank" rel="noopener">announced</a> that it closed the sale of its 75%-owned 332 MWp Sunnynook solar project in Alberta. A subsidiary of METLEN Energy &amp; Metals, formerly known as Mytilineos, acquired the solar project. The Sunnynook project is the second to reach the ready-to-build stage in 2024. METLEN will build the solar project.
SSE Renewables, a developer specializing in renewable energy projects, <a href="https://mercomcapital.com/sse-acquires-120-mw-240-mwh-battery-storage-project-in-ireland/" target="_blank" rel="noopener">announced</a> that it has acquired the project development rights for a 120 MW/240 MWh grid-scale battery energy storage system (BESS) in Ireland from Low Carbon, a U.K.-based renewable energy firm. Under the deal, SSE acquired the Thornsberry BESS project in County Offaly from Grid Systems Services, a battery storage project developer owned by Low Carbon.
Eku Energy, an energy storage project developer, <a href="https://mercomcapital.com/eku-energy-secures-financing-for-250-mw-williamsdale-energy-storage-project/" target="_blank" rel="noopener">announced</a> that it reached financial closure for its 250 MW/500 MWh Williamsdale battery energy storage system located in the Australian Capital Territory (ACT). Tesla will supply Megapack technology for the project. Consolidated Power Projects will supply the Balance of Plant as Eku Energy’s appointed construction partner and Eku Energy will manage the project. The project is a part of the ACT Government’s Big Canberra Battery project, connecting to the Evoenergy electricity distribution network.
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.
Read last week’s project finance <a href="https://mercomcapital.com/project-finance-brief-primergy-secures-225-million-financing-valley-fire-portfolio/" target="_blank" rel="noopener">brief</a>.

<a href="https://www.ekuenergy.com/" target="_blank" rel="noopener">Eku Energy</a>, an energy storage project developer, announced that it reached financial closure for its 250 MW/500 MWh Williamsdale battery energy storage system located in the Australian Capital Territory (ACT). Tesla will supply Megapack technology for the project.
Consolidated Power Projects will supply the Balance of Plant as Eku Energy’s appointed construction partner and Eku Energy will manage the project.
The project is a part of the ACT Government’s Big Canberra Battery project, connecting to the Evoenergy electricity distribution network. The project will be operating in grid-forming mode and can provide system strength services along with fast-acting frequency control ancillary services.
Eku Energy partnered with the ACT Government to develop an innovative revenue swap arrangement under which the ACT will receive a share of the revenue from the project’s participation in the National Electricity Market. Additionally, the project will deliver a range of energy and essential grid services. In exchange, Eku Energy will receive fixed quarterly payments over a period of 15 years from the Territory.
Westpac, Sumitomo Mitsui Banking Corporation, and MUFG Bank will provide debt financing for the project.
According to the company, the project is expected to be operational in 2026. Once completed, the battery energy storage system will have the capacity to store renewable electricity, enough to power one-third of Canberra for two hours during peak demand periods.
According to Mercom’s 9M and Q3 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-and-q3-2024-funding-and-ma-report-for-storage-and-grid/" target="_blank" rel="noopener">report</a> for Energy Storage and Smart Grid, energy storage project funding in 9M 2024 saw a record $10.1 billion raised in 35 deals compared to $6.8 billion in 26 deals in 9M 2023.
In October, Scatec, a renewable energy solutions provider, announced the financial <a href="https://cms.mercomindia.com/scatec-secures-financing-energy-storage-project-south-africa/" target="_blank" rel="noopener">closure</a> of the 103 MW/ 412 MWh Mogobe battery energy storage system in South Africa. The project is located near Kathu, Northern Cape.

Eku Energy Secures Financing for 250 MW Williamsdale Energy Storage Project

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					</table>Global technology-enabled energy storage business <a href="https://www.ekuenergy.com/" target="_blank" rel="noopener">Eku Energy</a> has commissioned a 150 MW/ 150 MWh battery energy storage system (BESS) at the site of the former Hazelwood Power Station in the Latrobe Valley of Victoria in Australia, in collaboration with France-based multinational utility firm <a href="https://www.engie.com/en" target="_blank" rel="noopener">ENGIE</a> and global storage products and services provider <a href="https://fluenceenergy.com/" target="_blank" rel="noopener">Fluence</a>.
Hazelwood is the first coal-fired power station to retire in Australia to host a BESS, to be set as an example for repurposing former thermal assets for renewable energy technologies, the company said in a statement.
The Hazelwood battery energy storage project is jointly funded and developed by ENGIE and Eku and is said to be the country’s largest privately funded utility-scale battery.
The BESS can store the equivalent of an hour of energy generated from the rooftop solar systems of 30,000 homes.
It is expected to play a critical role in increasing renewable energy capacity in Victoria while delivering essential system services to the grid.
The Hazelwood Power Station was built in the 1960s and retired in 2017 after 50 years of operation.
Chief Investment Officer and Head of Asia Pacific for Eku Energy Daniel Burrows said, “The Hazelwood battery is an example of how strong partnerships can support the deployment of battery storage systems at strategic grid locations as Australia’s existing generation fleet transitions towards higher penetrations of renewable energy resources.”
Fluence will supply, operate, and maintain the Hazelwood BESS project.
The project is also the first in Australia to use Fluence’s Gridstack product, designed for the most demanding applications, including flexible peaking capacity, frequency regulation, renewable integration, transmission, and distribution enhancement.
Achal Sondhi, Vice President for Market Growth, APAC &amp; General Manager for Australia at Fluence, said: “Fluence Mosaic bidding software allows the Hazelwood battery to react quickly and efficiently to grid needs and maximize the revenue while allowing the integration of more clean energy. Our rapidly growing Fluence team in Australia is committed to the country’s energy transition.”
Last December, the Australian Renewable Energy Agency <a href="https://www.mercomindia.com/australia-provide-118-million-battery-projects-country" target="_blank" rel="noopener">announced</a> AU$ 176 million (~$118 million) in conditional funding to support eight grid-scale battery projects across Australia. With a total capacity of 2 GW/ 4.2 GWh, the projects represent a tenfold rise in grid-forming power storage capacity, which is operational in the National Electricity Market.
Meanwhile, the think tank Climate Energy Fund projected that Australia could be an <a href="https://www.mercomindia.com/australia-can-rival-china-for-renewables-sector" target="_blank" rel="noopener">alternative</a> to China and become a potential supply chain partner for the global renewables sector, given the abundance of minerals available in Australia that are critical to clean energy technologies.

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