Hounen to Set Up 3 GW Solar Module Plant in South Carolina

NTPC Green Commissions 75.5 MW Capacity at Khavda-I Solar Project

Tata Power Commissions 300 MW Solar Project for NHPC in Rajasthan

Daily News Wrap-Up: India’s Solar Installations Up 54% YoY in 9M 2025

Funding and M&A Roundup: Sedgeley Solar Group Raises $60 Million

Project Finance Brief: rPlus Acquires 900 MW of Solar and Storage Projects

JinkoSolar’s Q3 Revenue Drops 34% YoY Due to Lower Module Prices

Spain Announces €2 Billion Funding Package for Energy Transition

GRP to Procure Power from BECIS’ 8 MW Captive Solar Project in Gujarat

Tata Power Delhi Issues Tender for 200 MW Firm Renewable Energy with ESS

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-sedgeley-solar-group-raises-60-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Sedgeley Solar Group, a renewable energy platform that offers capex-free solar solutions for commercial and industrial clients, <a href="https://mercomcapital.com/sedgeley-solar-group-raises-equity-funding/" target="_blank" rel="noopener">raised</a> $60 million in equity funding. The funding was primarily provided by Inspired Evolution’s next-generation energy transition fund, Evolution III, which invested $30 million.
Nanoramic, an energy storage and advanced materials company, <a href="https://mercomcapital.com/battery-materials-company-nanoramic-secures-54-million/" target="_blank" rel="noopener">secured</a> a total of $54 million for its Series 1 equity funding. This funding round included a recent investment from new partner PEP Capital, as well as continued participation from existing investors. It is intended to help the company further accelerate the global commercialization of its proprietary Neocarbonix technology.
Exowatt, a provider of thermal energy storage solutions, <a href="https://mercomcapital.com/thermal-energy-storage-exowatt-raises-funding/" target="_blank" rel="noopener">secured</a> an additional $50 million in funding. The investment was led by MVP Ventures and 8090 Industries, along with additional investors including the Florida Opportunity Fund, DeepWork Capital, Dragon Global, Massive VC, New Atlas Capital, BAM, Overmatch, Protagonist, StepStone, Atomic, and Bay Bridge Ventures.
Clarios, a provider of low-voltage energy storage solutions, <a href="https://mercomcapital.com/clarios-acquires-maxwell-technologies/" target="_blank" rel="noopener">announced</a> the acquisition of Maxwell Technologies, a manufacturer of supercapacitor cells and modules used in mobility, grid, and on-site power applications, including data centers. Clarios will operate Maxwell Technologies as an independent U.S.-based business unit. Terms of the deal remained undisclosed.
Swish Solar, a cleantech startup that provides self-cleaning solar panel technology, <a href="https://mercomcapital.com/swish-solar-raises-1-5-million-in-pre-seed-funding/" target="_blank" rel="noopener">raised</a> $1.5 million in an oversubscribed pre-seed funding round. The round was led by Friday Ventures, with participation from Velocity Fund, Front Row Ventures, Alif Fund, and Suno Growth. The funding is expected to support product manufacturing, AI model development, and team growth across engineering and business development as the company moves toward full commercialization.
France-based solar module manufacturer HoloSolis has <a href="https://www.mercomindia.com/holosolis-secures-e220-million-for-5-gw-solar-module-plant-in-france" target="_blank" rel="noopener">secured</a> €220 million (~$255 million) in financing for its solar panel plant in Hambach in the Moselle prefecture. The company, which claims to be building the largest solar module plant in Europe with a capacity of 5 GW, has also secured two new private partners, Calès Technologie and Forming, who have together committed an investment of €13 million (~$15 million) in the facility.
Waaree Energy Storage Systems, the battery energy storage arm of Waaree Energies, <a href="https://www.mercomindia.com/waaree-energy-storage-raises-3-25-billion-funding-round-niveshaay" target="_blank" rel="noopener">raised</a> ₹3.25 billion (~$36.65 million) as part of a ₹10 billion (~$112.78 million) funding round led by investment firm Niveshaay. Niveshaay invested ₹1.28 billion (~$14.44 million) in the round through its Category II Niveshaay Sambhav Fund, Category III Niveshaay Hedgehogs Fund, and the newly launched dedicated collective investment vehicles Niveshaay WESS Fund.
Dispatch Energy, a provider of distributed energy solutions, fully <a href="https://mercomcapital.com/dispatch-energy-acquires-green-lantern-solar/" target="_blank" rel="noopener">acquired</a> Green Lantern Solar (GLS), an integrated provider, developer, owner, and operator of solar photovoltaic assets. The deal enabled the company to add over 64 solar and battery storage projects from GLS, totaling 208.9 MW, at various stages of development and operation, increasing its total portfolio to 489.5 MW.
Electric vehicle (EV) charging platform, ACS Energy, <a href="https://cms.mercomindia.com/ev-charging-firm-acs-energy-secures-%E2%82%B911-million-funding-in-pre-seed-round/" target="_blank" rel="noopener">raised</a> ₹11 million (~$124,149) in a pre-seed round from Inflection Point Ventures. The funding will be utilized to deploy over 5,000 UPI-enabled EV charging stations across Maharashtra and Gujarat using its smart AC chargers and ACS pay platforms. It will also be used to develop advanced energy management systems for high-rise buildings. The ACS Energy system utilizes AI to manage loads and ensure payments are fast and transparent.
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>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-quino-energy-raises-10-million" target="_blank" rel="noopener">roundup</a>.

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-exowatt-closes-70-million-series-a-funding/" target="_blank" rel="noopener">Mercom Capital Group</a>
Exowatt, a provider of thermal energy storage solutions, <a href="https://mercomcapital.com/thermal-energy-storage-company-exowatt-closes-70-million/" target="_blank" rel="noopener">secured</a> $70 million in a Series A funding round led by Felicis, a venture capital firm in Silicon Valley. Among the $70 million raised, $35 million comes from debt provided by HSBC Innovation Banking and other lending partners, while the remaining $35 million is from equity.
REC, a state-owned infrastructure finance company, has <a href="https://www.mercomindia.com/rec-raises-%E2%82%B950-billion-through-five-and-ten-year-bonds" target="_blank" rel="noopener">raised</a> ₹50 billion (~$586 million) through the issuance of bonds. The offering included ₹30 billion (~$352 million) of five-year bonds at a coupon of 6.97% and ₹20 billion (~$234.6 million) through ten-year bonds at a coupon of 6.86%. The bonds received an “AAA” rating from credit rating agencies, including CARE Ratings, ICRA, and India Rating and Research.
Lodestone Energy, a solar project developer, has <a href="https://mercomcapital.com/lodestone-energy-raises-30-million-in-equity-funding/" target="_blank" rel="noopener">raised</a> an additional NZD50 million (~$30 million) in equity funding. The funding was primarily from existing shareholders, with some participation from new investors. This additional funding will add to the NZD50 million (~$30 million) development funding raised in 2024, bringing the total funding to NZD100 million (~$60 million). The funding will be used to build new, utility-scale solar projects to serve its customers.
iwell, a provider of smart energy management and battery storage system solutions, <a href="https://mercomcapital.com/battery-storage-solutions-provider-iwell-secures-31-million/" target="_blank" rel="noopener">closed</a> a €27 million (~$31 million) funding round led by Meridiam, an independent investment Benefit Corporation and asset manager, through its Green Impact Growth Fund. Invest-NL and Rabobank also participated as co-investors in this funding round, along with existing investors. The funding will help the company expand into new markets across Europe and globally.
OnePlanet Solar Recycling (OnePlanet), an advanced materials recovery processor specializing in end-of-life solar panels, <a href="https://mercomcapital.com/oneplanet-raises-7-million-in-seed-funding/" target="_blank" rel="noopener">secured</a> $7 million in a seed financing round led by Khasma Capital, a low-carbon infrastructure investment firm. The company has been developing a $90 million industrial-scale River City Project, which can produce high-grade critical materials such as silicon, aluminum, copper, and silver through recycling.
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>.
Read last week&#8217;s funding <a href="https://mercomindia.com/funding-and-ma-roundup-arnergy-raises-million" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Exowatt Closes $70 Million Series A Funding

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-pine-gate-renewables-secures-650-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Pine Gate Renewables, a solar project developer, <a href="https://mercomcapital.com/pine-gate-renewables-secures-capital-funding/" target="_blank" rel="noopener">secured</a> a $650 million investment from Generate Capital, the Healthcare of Ontario Pension Plan, and HESTA. The transaction extends Generate Capital’s existing partnership with Pine Gate and brings new institutional investors to the solar developer’s platform. The investment aims to expedite Pine Gate&#8217;s efforts as a developer, owner, and operator of clean energy projects and facilitate financing an additional 3 GW of clean energy infrastructure by 2025.
AdaniConneX, a data center solutions provider and a joint venture between Adani Enterprises and EdgeConneX, has established sustainability-linked financing to <a href="https://www.mercomindia.com/adaniconnex-green-financing-data-centers" target="_blank" rel="noopener">raise</a> $1.44 billion to fund its renewable-powered data centers and enable digital infrastructure growth in the country. The company said the upcoming data center facilities would leverage technologies and renewable energy solutions to minimize the ecological footprint while optimizing operational efficiency.
Agilitas Energy, a developer, builder, owner, and operator of distributed energy storage and solar projects, announced the <a href="https://mercomcapital.com/solar-and-storage-developer-agilitas-energy-secures-funding/" target="_blank" rel="noopener">closing</a> of $100 million in debt financing to fund its growth and continued national expansion. Nomura Securities International acted as the sole bookrunner and lead arranger. Nomura Corporate Funding Americas acted as an administrative agent on the deal, which may be further upsized to $200 million upon the completion of certain projects.
Exowatt, a provider of thermal energy solutions for data centers, <a href="https://mercomcapital.com/exowatt-secures-20-million-for-addressing-data-center-energy-requirements/" target="_blank" rel="noopener">secured</a> $20 million in a seed funding round from a16z, Atomic, and Open AI’s Sam Altman to capitalize on the booming demand of the AI market, which is escalating the energy costs for data centers. With the recent funding secured, the company plans to bolster its team and introduce the Exowatt P3 to its initial roster of data center customers.
Harmony Energy, a utility-scale energy storage project developer, <a href="https://mercomcapital.com/harmony-energy-secures-credit-facility/" target="_blank" rel="noopener">secured</a> a £10 million (~$12.5 million) credit facility from Triodos Bank UK to support the development of new projects and its expansion across Europe. The new facility is the bank’s first UK loan to the standalone energy storage sector. Currently, the company has 516 MW/1.032 GWh of BESS operational capacity. Harmony has a global pipeline of over 11 GW, of which 268 MW/536 MWh is under construction.
Terra One, a startup specializing in grid-connected battery energy storage solutions, <a href="https://mercomcapital.com/terra-one-secures-in-seed-financing/" target="_blank" rel="noopener">secured</a> $7.5 million in seed funding, led by PT1, an early-stage venture capital firm specializing in real asset technologies, and neosfer, an early-stage investor associated with Commerzbank. Other participants include 468 Capital, N26 cofounder Maximilian Tayenthal, as well as the scout funds of renowned entities like Andreessen Horowitz and Hedosophia. The company intends to strategically utilize the funds to bolster its team, particularly by hiring skilled engineers and project finance experts.
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>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-ev-charging-swtch-raises-27-million" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Pine Gate Renewables Secures $650 Million

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