Maharashtra Launches Rooftop Solar Program for Economically Weaker Sections

Saatvik Green Receives Solar Module Orders Worth ₹7 Billion

RPSG Solvanta Commissions 4 GW Solar Module Manufacturing Facility

Loom Solar Commissions 17.9 MW Utility-Scale Solar Projects in Four States

IREDA’s Loan Approvals Grow 86% YoY to ₹331 Billion in Q2 FY 2026

Micromax, Patanjali Among Winners of Rajasthan DISCOM’s 2 GWh BESS Auction

Daily News Wrap-Up: India Adds 48.4 MWh Energy Storage in 1H 2025

Funding and M&A Roundup: OpenSolar Raises $20 Million Equity Funding

Project Finance Brief: Green Hedge Sells 100 MW Battery Storage Project in Germany

Gujarat Grants 396-Day Extension to Wind Developer for 40 MW Project


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					</table><p>Foraying into utility-scale projects, Haryana-based solar energy solutions company <a href="https://www.loomsolar.com/?srsltid=AfmBOoq9QhGmAZwoEJa5hBVrpwiDWY7rmqK_dwwOUhBlmaVMlNQn_uMx" target="_blank" rel="noopener">Loom Solar</a> has commissioned 17.9 MW of solar projects across India.</p>
<p>The projects include an 8 MW project in Tamil Nadu, a 5.3 MW project in Madhya Pradesh, a 1.1 MW project in Uttarakhand, and a 3.5 MW project in Rajasthan.</p>
<p>The company also announced its strategy to address the growing demands of the utility-scale market by integrating battery energy storage solutions with large-scale solar arrays.</p>
<p>Its strategy is underscored by the <a href="https://www.mercomindia.com/india-added-48-4-mwh-of-energy-storage-capacity-in-1h-2025" target="_blank" rel="noopener">growing</a> demand for battery energy storage systems (BESS) in India. According to Mercom’s India’s Energy Storage Landscape 1H 2025 Report, India’s cumulative installed energy storage capacity reached 490 MWh by the end of June 2025.</p>
<p>Loom Solar manufactures modules using mono-passivated emitter and rear cell, tunnel oxide passivated contacts, and heterojunction technologies. It also provides on-grid inverters, hybrid inverters (ranging from 5 kW to 100 kW), and BESS, targeting rural India and tier two and three markets.</p>
<p>The company provides comprehensive clean energy solutions for the residential, commercial, and agricultural sectors.</p>
<p>Loom Solar plans to establish a 1.2 GW solar module factory, a 100 MW inverter manufacturing facility, and another 100 MW BESS manufacturing facility.</p>
<p>In an interview on the sidelines of the Mercom India Renewables Summit 2025 <a href="https://www.mercomindia.com/power-rural-commercial-customers-with-need-based-solutions" target="_blank" rel="noopener">held</a> in New Delhi on July 24 and 25, 2025, Amod Anand, CEO at Loom Solar, stated that his company’s focus is on serving customers in rural or semi-urban areas, who often face challenges with access to technology and financing.</p>
<p>According to data from the Central Electricity Authority, the Ministry of New and Renewable Energy, and Mercom’s India Solar Project Tracker, solar power <a href="https://www.mercomindia.com/renewable-energy-capacity-in-indias-power-mix-reaches-48-3-in-q2-2025" target="_blank" rel="noopener">accounted</a> for 24% of the total installed power capacity and 49.7% of the total installed renewable capacity as of June 2025.</p>
<p>According to Mercom India Research, utility-scale solar auctions in India <a href="https://www.mercomindia.com/indias-utility-scale-solar-tender-and-auction-activity-plunge-in-q2-2025" target="_blank" rel="noopener">fell</a> sharply in the second quarter of 2025, with only 1.6 GW of utility-scale solar projects being auctioned in the quarter, a steep 74.1% drop from 6.4 GW from the previous quarter and a 75.2% decline from the same quarter in 2024.</p>



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					</table><p>Coal India <a href="https://mercomindia.com/coal-india-floats-epc-tender-for-3-gw-solar-projects-across-india" target="_blank" rel="noopener">floated</a> an engineering, procurement, and construction (EPC) tender to set up 3,000 MW grid-connected solar projects anywhere in India on a turnkey basis. Bids must be submitted by September 16, 2025. Bids will be opened on the same date. The projects are proposed in Andhra Pradesh, Tamil Nadu, Karnataka, Rajasthan, and Madhya Pradesh. The scope of work entails the design, engineering, supply and procurement, construction, erection, testing, and commissioning of the solar projects. It also involves providing operation and maintenance services.</p>
<p>In an interview on the sidelines of the Mercom India Renewables Summit 2025 <a href="https://www.mercomindia.com/power-rural-commercial-customers-with-need-based-solutions" target="_blank" rel="noopener">held</a> in New Delhi on July 24 and 25, 2025, Amod Anand, CEO at Loom Solar, said his company’s focus is on serving customers in rural or semi-urban areas who often face challenges with access to technology and financing.</p>
<p>The West Bengal Green Energy Development Corporation <a href="https://www.mercomindia.com/west-bengal-invites-bids-for-1-5-mw-rooftop-solar-project" target="_blank" rel="noopener">issued</a> a tender for a 1.5 MW grid-connected rooftop solar project at Kalyani Layer Farm, Kalyani, Nadia district, West Bengal. The estimated cost of the project is ₹93.8 million (~$1.09 million). Bids must be submitted by September 19, 2025. Bids will be opened on September 22. The scope of work encompasses design, manufacturing, testing, supply, commissioning, and reliability testing of the rooftop solar project, as well as operation and maintenance for five years. The project must be completed within 120 days from the date of site handover.</p>
<p>Chhattisgarh State Renewable Energy Development Agency <a href="https://www.mercomindia.com/chhattisgarh-invites-bids-to-set-up-1-3-mw-rooftop-solar-projects" target="_blank" rel="noopener">issued</a> a request for selection to set up grid-connected rooftop solar projects with a cumulative capacity of 1.3 MW at two hospitals in Raigharh, Chhattisgarh, under the renewable energy service company model. The projects must be installed at the Late Shri Lakhi Ram Agrawal Memorial Medical College and the Late Shri Lakhi Ram Agrawal Memorial Hospital. The capacity will be split equally between the two hospitals. Bids must be submitted by September 22, 2025. Bids will be opened on September 23. The scope of work entails the design, supply, erection, testing, and commissioning of the solar projects. It also includes providing operation and maintenance services for 25 years.</p>
<p>Adani Renewable Energy Fifty-Six, a subsidiary of Adani Green Energy (AGEL), <a href="https://www.mercomindia.com/adani-green-energy-commissions-125-mw-solar-capacity-in-gujarat" target="_blank" rel="noopener">operationalized</a> an incremental solar power project of 125 MW at Khavda, Gujarat. With the addition of this capacity, AGEL’s total operational renewable generation portfolio has reached 15,990.5 MW. The solar project is part of AGEL’s ongoing capacity additions in Gujarat. The operationalization contributes to its overall capacity mix, which spans solar, wind, and hybrid renewable energy projects across multiple states.</p>
<p>Surat-based renewable energy solutions provider KPI Green Energy’s board of directors <a href="https://www.mercomindia.com/kpi-green-to-raise-%E2%82%B96-7-billion-through-green-bonds-issue#:~:text=Surat%2Dbased%20renewable%20energy%20solutions,private%20placement%20to%20eligible%20investors." target="_blank" rel="noopener">approved</a> the issuance of ₹6.7 billion (~$76.05 million) in secured, listed, rated, senior, redeemable, transferable, non-convertible certified green bonds through a private placement to eligible investors. The bonds will be issued in one or more tranches in dematerialized form and listed on the Negotiated Trade Reporting Platform under the New Debt Market Segment of the National Stock Exchange of India. They carry a coupon rate of 8.5% per annum and a tenure of 60 months from the deemed date of allotment.</p>
<p>Solar module manufacturer Waaree Energies <a href="https://www.mercomindia.com/waaree-to-buy-64-stake-in-power-transformer-firm-kotsons" target="_blank" rel="noopener">acquired</a> a 64% equity stake in Rajasthan-based power transformer solutions company Kotsons for ₹1.92 billion (~$21.79 million). Waaree’s board of directors approved the company’s share subscription and shareholders’ agreements for the acquisition of 25.6 million shares costing ₹75 (~$0.85) per share at a face value of ₹10 (~$0.11) each. Post acquisition, Kotsons will become Waaree’s subsidiary.</p>
<p>Solar glass manufacturer Borosil Renewables <a href="https://www.mercomindia.com/borosil-renewables-reports-7-yoy-dip-in-revenue-in-q1-fy-2026" target="_blank" rel="noopener">reported</a> revenue of ₹3.46 billion (~$39.4 million) for the first quarter of the financial year 2026, a 7% year-over-year decrease from ₹3.71 billion (~$42.2 million). The company posted a net loss of ₹2.03 billion (~$23.1 million) for the quarter, an increase of 1,329% from the same period last year. The loss was primarily due to a ₹2.22 billion (~$25.3 million) impairment charge following the insolvency of its German subsidiary, GMB Glasmanufaktur Brandenburg. Loss per share for the quarter stood at ₹1.86 (~$0.021), compared to ₹0.99 (~$0.011) in the same quarter of the previous year.</p>


Daily News Wrap-Up: Coal India Floats EPC Tender for 3 GW Solar Projects


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					</table><p>In an interview on the sidelines of the  <a href="https://www.mercomindia.com/event/renewables-summit-2025" target="_blank" rel="noopener">Mercom India Renewables Summit 2025</a> held in New Delhi on July 24 and 25, 2025, Amod Anand, CEO at <a href="https://www.loomsolar.com/" target="_blank" rel="noopener">Loom Solar</a>, said his company’s focus is on serving customers in rural or semi-urban areas who often face challenges with access to technology and financing.</p>
<p><strong>Can </strong><strong>you tell us about the solar services and products that Loom Solar offers?</strong></p>
<p>Loom Solar started seven years ago as a solar panel company. We have now expanded into modules featuring mono PERC, TOPCon, and HJT technology. We also provide on-grid inverters, hybrid inverters (ranging from 5 kW to 100 kW), and battery energy storage systems (BESS) targeted towards rural India and tier two to three markets.</p>
<p>Our focus is on delivering need-based solutions for areas where access to such technology is limited and affordability is a challenge. From day one, our goal has been to introduce new technologies to the Indian market, particularly in rural and semi-urban areas, offering comprehensive solar solutions to end-users.</p>
<p><iframe loading="lazy" title="Interview with Amod Anand, CEO, Loom Solar" src="https://player.vimeo.com/video/1109282208?h=56ad886592&amp;badge=0&amp;autopause=0&amp;player_id=0&amp;app_id=58479" width="100%" height="500" frameborder="0"><span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start">﻿</span><span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start">﻿</span></iframe></p>
<p><strong>Most of your projects are on the residential side. How does your business model work with respect to the domestic content requirement (DCR) and non-DCR modules?</strong></p>
<p>Yes, a large part of our work is in the residential segment. But our model is not just about DCR or non-DCR modules; it is about identifying and solving key market challenges. We research common issues in rural and semi-urban markets, create educational content, and develop solutions accordingly.</p>
<p>For example, many rural customers use solar energy for applications like poultry farms or to power motors. We design systems to run these efficiently, integrating DCR or non-DCR panels as needed. We focus on “rural commercial” customers, people living in rural India who run small businesses, and we also help them with financing, which is often a big barrier.</p>
<p><strong>Have you seen an increase in demand for energy storage systems in these markets?</strong></p>
<p>Yes, a new trend is emerging. For example, in the Delhi-National Capital Region, generator use is restricted due to regulations, creating opportunities for solar plus storage solutions as alternatives. Our goal is to replace gensets with solar panels plus battery backup, which can power critical appliances for one to four hours. This applies to hospitals, hotels, rural factories, and roadside businesses. New battery systems are becoming 100% reliable, and their costs are falling each year. We expect them to become mass-market products within two to three years.</p>
<p><strong>Apart from inverters, energy storage systems, and modules, do you manufacture any other products?</strong></p>
<p>We started with solar panel manufacturing and are now setting up a 1.2 GW HJT panel line, a 100 MW inverter line, and a 100 MW BESS manufacturing unit. In the past, we relied on suppliers to meet our demand, around 1,000 MW, but faced challenges with quality, consistency, and reliability. Now, with sufficient capital, we are transitioning into manufacturing to provide complete solutions with long warranties.</p>


We Must Power Rural Commercial Customers with Need-Based Solutions: Interview


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					</table><p>Haryana-based solar technology startup <a href="https://www.loomsolar.com/" target="_blank" rel="noopener">Loom Solar</a> raised $2 million in funding from the U.S.-based asset manager Social Investment Managers and Advisors (<a href="https://simafunds.com/" target="_blank" rel="noopener">SIMA Funds</a>) to support its growth strategy for solar energy solutions.</p>
<p>Loom manufactures bifacial solar panels and lithium batteries. The company said that its clean solutions currently power more than 50,000 homes across India.</p>
<p>The startup claims to be developing an ecosystem for residential customers to access better technology and quick finance to make solar energy more affordable.</p>
<p>The fundraising activity was supported by the World Bank Group, Development Finance Corporation,  British International Investment, and Dutch development bank FMO.</p>
<p>Director of Loom Solar Amod Anand said, “As we are significantly scaling our portfolio to provide energy access and provide green energy solutions to communities propelling economic growth, reducing carbon emissions, and improving environmental sustainability, the funding support from Social Investment Managers and Advisors is timely. We have successfully delivered clean power to thousands of customers across residential, commercial, and industrial sectors in India, and we look forward to working in the same direction by bringing more efficient green energy solutions in times to come.”</p>
<p>“Loom Solar is one of the fast-growing companies in India in the solar manufacturing space. It has clearly distinguished itself through products, processes, and services. As Loom Solar has been overcoming the disruptions caused by COVID in the supply chain and is steering through the recent changes in import duty that slowed down the market briefly, we believe that EARF support from SIMA can make Loom Solar be more resilient to achieve its energy access goals,” commented Arivazhagan G D, partner at SIMA.</p>
<p>In 2021, SIMA <a href="https://mercomindia.com/sima-launches-energy-access-relief-fund-solar/" target="_blank" rel="noopener">launched</a> the Energy Access Relief Fund with a first close of $68 million and a target closing of around $84 million by the end of the year. The fund aimed to support off-grid solar companies in sub-Saharan Africa and Asia.</p>
<p>In the same year, the Green Climate Fund <a href="https://mercomindia.com/green-climate-fund-137-million-investment-india/" target="_blank" rel="noopener">approved</a> FMO’s proposal to accelerate private and public sector investment in India’s green infrastructure projects.</p>


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