TNERC Approves ₹0.10 Additional Surcharge for Open Access Power Consumers

First Solar Misses EPS Expectations in Q1, Scales Down 2025 Guidance

Jharkhand Issues Rate Contract Tender for O&M of 3.9 MW Solar Projects

Telangana Approves Procurement of 4 GW Solar Power Under PM-KUSUM

Multi Infrastructure & Engineering Wins SECI’s 4.12 MW Solar Auction

Daily News Wrap-Up: UPNEDA Invites Bids to Set Up 110 MW Solar Projects

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

Project Finance Brief: Zelestra Secures $113 Million for 81 MW Solar Project

Tata Power-D Invites Bids for 250 MW Renewable Energy with Storage

SECI Invites Bids for 260 MW Module Supply for Project in Madhya Pradesh


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-exowatt-closes-70-million-series-a-funding/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Exowatt, a provider of thermal energy storage solutions, </strong><a href="https://mercomcapital.com/thermal-energy-storage-company-exowatt-closes-70-million/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $70 million in a Series A funding round led by Felicis</strong>, 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.</p>
<p><strong>REC, a state-owned infrastructure finance company, has </strong><a href="https://www.mercomindia.com/rec-raises-%E2%82%B950-billion-through-five-and-ten-year-bonds" target="_blank" rel="noopener"><strong>raised</strong></a><strong> ₹50 billion (~$586 million) through the issuance of bonds.</strong> 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.</p>
<p><strong>Lodestone Energy, a solar project developer, has </strong><a href="https://mercomcapital.com/lodestone-energy-raises-30-million-in-equity-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> an additional NZD50 million (~$30 million) in equity funding</strong>. 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.</p>
<p><strong>iwell, a provider of smart energy management and battery storage system solutions, </strong><a href="https://mercomcapital.com/battery-storage-solutions-provider-iwell-secures-31-million/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> a €27 million (~$31 million)</strong> 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.</p>
<p><strong>OnePlanet Solar Recycling (OnePlanet)</strong>, 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.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://mercomindia.com/funding-and-ma-roundup-arnergy-raises-million" target="_blank" rel="noopener">roundup</a>.</p>



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					</table><p>From: <a href="https://mercomcapital.com/project-finance-brief-swift-current-energy-secures-financing-for-800-mw-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Swift Current Energy, a utility-scale solar, wind, and energy storage project developer, </strong><a href="https://mercomcapital.com/swift-current-energy-secures-financing-800-mw-solar-project/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> tax equity investment from Google to develop an 800 MWdc</strong> (593 MWac) Double Black Diamond solar project in southern Illinois. The project is currently under construction and is expected to reach commercial operations by early 2025. Once operational, the project is expected to be the largest solar project east of the Mississippi River. The tax equity financing utilizes energy communities and domestic content adders, provided in the Inflation Reduction Act.</p>
<p><strong>The European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank International provided €110 million (~$122 million) in </strong><a href="https://mercomcapital.com/ebrd-and-raiffeisen-bank-provide-122m-loan-for-solar-projects-in-romania/" target="_blank" rel="noopener"><strong>funding</strong></a><strong> to build and operate</strong> two solar projects in southeastern Romania. The Lepuresti and Ghimpati solar projects have a total installed capacity of around 300 MW. EBRD will provide a loan of €55 million (~$61 million), which will be split into two tranches of €25 million (~$27.74 million) and €30 million (~$33.29 million), and another €55 million (~$61 million) will be from Raiffeisen Bank International.</p>
<p><strong>Levanta R</strong><strong>enewables, a renewable energy project developer and independent power producer in Southeast Asia backed by Actis, an investor in sustainable infrastructure, <a href="https://mercomcapital.com/levanta-renewables-acquires-9-5-mw-commercial-industrial-solar-portfolio/" target="_blank" rel="noopener">announced</a> the acquisition </strong>of six solar projects with a total installed capacity of 9.5 MWp for its commercial and industrial business from an undisclosed regional renewable energy projects developer. The portfolio comprises solar projects with long-term power purchase agreements signed with leading Global 500 multinational corporations.</p>
<p><strong>Lodestone Energy, a solar project developer, </strong><a href="https://mercomcapital.com/lodestone-energy-acquires-54-mw-solar-portfolio-in-new-zealand/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of two grid-scale solar project sites in the Manawatu region of New Zealand from Kiwi Solar</strong>, a utility-scale and rooftop solar energy project developer. Upon completion, the two projects will each have a total capacity of approximately 27 MW. Construction on the first site is scheduled to begin by mid-2025.</p>
<p><strong>Generate Capital, a sustainable investment and operating company, and KeyState Renewables, an investment firm, </strong><a href="https://mercomcapital.com/generate-keystate-close-53-5-mw-community-solar-projects-investment-fund/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the close of their third joint fund</strong>, Generate NY Community Solar VI. The closed fund includes a $64 million investment from KeyState, which will be used to develop and manage 11 projects in New York with a total capacity of 53.5 MW.</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-atlas-renewable-energy-secures-solar-project/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Swift Current Energy Secures Financing for 800 MW Solar Project

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