NTPC Floats O&M Tender for 25 MW Floating Solar Project

MNRE Clarifies ALMM List II Rules for Solar Cell Compliance

IEX’s Electricity Trading Volume Rises 7.7% YoY in July

Distribution Business, Renewables Boost Torrent’s Revenue 3% in Q1 FY 2027

SECI Seeks Trading Partner to Sell Renewable Energy

PM Surya Ghar Powers 5 Million Homes, Total Capacity Hits 15 GW

Nextpower Raises Guidance for FY 2027 on Strong Q1 Performance

Avantus Closes $1 Billion Credit Facility to Expand Project Portfolio

Tandem PV Acquires nexTC to Bring Thin-Film Coating Technology In-House

Base Power Raises $1 Billion in Series D Funding Round


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2026/07/amazon_polly_101840.mp3?version=1784696359">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-puresky-closes-62-million-credit-financing/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>PureSky Energy, a Denver-based developer, owner, and operator of community solar, commercial and industrial solar, and energy storage projects, has <a href="https://mercomcapital.com/puresky-closes-62-million-upsizing-corporate-credit-financing/" target="_blank" rel="noopener">closed</a> a $62 million</strong> upsizing of its corporate credit facility arranged by Nomura. The company said the expanded credit facility enabled it to repay certain legacy debt at the holding company level and increased liquidity for its U.S. community solar and distributed generation business.</p>
<p><strong>U.K.’s development finance institution and impact investor, British International Investment (BII), has<a href="https://www.mercomindia.com/bii-eaaif-partner-to-finance-blueleaf-energys-renewable-energy-expansion" target="_blank" rel="noopener"> announced</a> the partial syndication</strong> of its mezzanine debt investment in Blueleaf Energy. Under the transaction, Emerging Africa and Asia Infrastructure Fund will participate in 50% of the $75 million mezzanine debt facility underwritten by BII. The financing will support Blueleaf Energy’s development of 850 MW of greenfield renewable energy capacity in India.</p>
<p><strong>ARRAY Technologies, a provider of solar tracking technology and fixed-tilt products and foundation solutions, has <a href="https://mercomcapital.com/array-technologies-to-acquire-affordable-wire-management-for-203-million/" target="_blank" rel="noopener">entered</a> into</strong> <strong>a definitive agreement</strong> to acquire Affordable Wire Management (AWM) for total potential consideration of $203 million. AWM is a company that supplies wire management, cable protection, and balance-of-system products for utility-scale solar and energy storage projects. The transaction includes a base purchase price of $153 million and up to $50 million in additional consideration.</p>
<p><strong>Unirac, a manufacturer of solar photovoltaic mounting systems in North America, has <a href="https://mercomcapital.com/unirac-acquires-terrasmarts-solar-racking-business-5-million/" target="_blank" rel="noopener">acquired</a> assets</strong> related to Terrasmart’s solar racking business from Gibraltar Industries for $5 million. Terrasmart provides ground-mounted, tracker, and canopy systems for commercial, industrial, and distributed-generation solar projects in the U.S. The acquisition expands Unirac’s platform beyond its core residential and commercial flat roof racking business.</p>
<p><strong>Piq Energy, a grid planning software company, has <a href="https://www.mercomindia.com/grid-software-solutions-provider-piq-energy-raises-5-million" target="_blank" rel="noopener">raised</a> $5 million</strong> in an oversubscribed seed funding round led by Active Impact Investments. Cisco Foundation, Mobilize AI x Energy Ventures, New Climate Ventures, Ascent Energy Ventures, Umami Capital, CLAI Ventures, and 9Zero also participated in the round. Piq Energy develops an agentic grid planning platform that integrates with existing engineering tools, bringing models, data, and workflows into a single system.</p>
<p><strong>Powerica has <a href="https://www.mercomindia.com/powerica-acquires-49-stake-in-fuji-kailash-energy-for-%E2%82%B930-million" target="_blank" rel="noopener">acquired</a> a 49% stake in Fuji-Kailash Energy,</strong> a renewable energy generation and distribution company, for ₹30 million (~$311,365). The company’s board of directors approved the investment on April 21, 2026, and the equity shares were allotted to the company on May 22, 2026. Powerica finalized the investment by purchasing 1,729,106 FKEPL equity shares at ₹10 (~$0.103) each. The company stated that it aimed to enter a de-risked renewable asset category with long-term revenue visibility with the investment.</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://www.mercomindia.com/funding-and-ma-roundup-aditya-birla-renewables-to-acquire-sprng-energy" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: PureSky Closes $62 Million Credit Financing


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2026/07/amazon_polly_99140.mp3?version=1784274699">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://www.powericaltd.com/" target="_blank" rel="noopener">Powerica</a> has acquired a 49% stake in Fuji-Kailash Energy (FKEPL), a Gujarat-based renewable energy generation and distribution company, for ₹30 million (~$311,365).</p>
<p>The company’s board of directors approved the investment on April 21, 2026 and the equity shares were allotted to the company on May 22, 2026.</p>
<p>Powerica finalized the investment by purchasing 1,729,106 FKEPL equity shares at ₹10 (~$0.103) each.</p>
<p>The company stated that it aimed to enter a de-risked renewable asset category with long-term revenue visibility with the investment. The investment would strengthen Powerica&#8217;s renewable portfolio, enable it to pursue additional solar projects, and support its ESG framework.</p>
<p>FKEPL is a renewable power generation and distribution company focusing on solar, wind, hybrid, and bio-energy solutions. It was incorporated on July 26, 2025.</p>
<p>It has an authorized share capital of ₹36 million ($373,638) and a paid-up share capital (pre-investment) of ₹18 million ($186,819). Its paid-up share capital (post-investment) is ₹35.29 million ($366,280).</p>
<p>Powerica <a href="https://www.mercomindia.com/seci-announces-winners-of-2-gw-ists-connected-wind-energy-auction" target="_blank" rel="noopener">was</a> among the winners of Solar Energy Corporation of India&#8217;s auction to set up 2,000 MW of interstate transmission system-connected wind power projects across India (Tranche XX). Powerica bagged 100 MW at a tariff of ₹3.85 (~$0.0400)/kWh.</p>
<p>Earlier in July, Powerica was one of the winners <a href="https://www.mercomindia.com/guvnl-announces-winners-of-250-mw-wind-auction" target="_blank" rel="noopener">announced</a> in Gujarat Urja Vikas Nigam&#8217;s auction to procure power from 250 MW of grid-connected wind projects (Phase XI). Powerica bagged 50 MW at a tariff of ₹3.51 (~$0.0368)/kWh.</p>
<p>Corporate funding in the solar sector rose to $11.1 billion across 53 deals in the first quarter of 2026, marking a 131% year-over-year increase from the $4.8 billion raised across 39 deals in Q1 2025, according to Mercom Capital Group&#8217;s <a href="https://mercomcapital.com/product/q1-2026-solar-funding-ma-report/" target="_blank" rel="noopener">Q1 2026 Solar Funding and M&amp;A Report</a>.</p>
<p>The funding also increased by 127% quarter over quarter, from $4.9 billion secured through 48 deals in Q4 2025.</p>
<p>The report recorded 28 solar corporate M&amp;A transactions during Q1 2026, representing a 47% increase from 19 transactions in Q1 2025 and a 33% rise from 21 transactions in Q4 2025.</p>


Powerica Acquires 49% Stake in Fuji-Kailash Energy for ₹30 Million


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2026/07/amazon_polly_97881.mp3?version=1784102478">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Gujarat Urja Vikas Nigam (<a href="https://www.guvnl.com/" target="_blank" rel="noopener">GUVNL</a>) has announced the winners of the auction to procure power from 250 MW of grid-connected wind projects (Phase-XI).</p>
<p><a href="https://www.nlcindia.in/website/en/" target="_blank" rel="noopener">NLC India Renewables</a>, <a href="https://www.junipergreenenergy.com/" target="_blank" rel="noopener">Juniper Green Energy</a>, and <a href="https://www.powericaltd.com/" target="_blank" rel="noopener">Powerica</a> bagged 100 MW, 50 MW, and 50 MW at a tariff of ₹3.51 (~$0.0368)/kWh, respectively. <a href="https://cubuilt.com/" target="_blank" rel="noopener">Cu-Built Renewable Energy</a> won 50 MW at a tariff of ₹3.52 (~$0.0369)/kWh.<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/07/GUVNL-250-MW-Wind-Auction-1.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-97888 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/07/GUVNL-250-MW-Wind-Auction-1.png" alt="" width="518" height="205" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/07/GUVNL-250-MW-Wind-Auction-1.png 518w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/07/GUVNL-250-MW-Wind-Auction-1-300x119.png 300w" sizes="auto, (max-width: 518px) 100vw, 518px" /></a></p>
<p>The tender was <a href="https://www.mercomindia.com/gujarat-floats-tender-to-procure-power-from-250-mw-wind-projects" target="_blank" rel="noopener">floated</a> in May this year.</p>
<p>Successful bidders must set up the wind power projects, including the associated transmission network to connect with the central or state transmission utility network at their own cost. Bidders must also obtain all necessary approvals, permits, and clearances from central, state, and local authorities.</p>
<p>The winners must possess  commercially established and operational wind technologies. They are also required to install and maintain GPS-enabled automatic weather stations in accordance with central government specifications and ensure data availability for load dispatch centers, in compliance with the Indian Electricity Grid Code.</p>
<p>The wind turbine models must comply with the Approved List of Models and Manufacturers (ALMM Wind) issued by the Ministry of New and Renewable Energy.</p>
<p>GUVNL will enter into power purchase agreements (PPAs) with the successful bidders for 25 years from the scheduled commencement of supply, or from the rescheduled date of commencement of supply, to the extent of any extension granted by GUVNL on grounds beyond the power producers&#8217; control.</p>
<p>Responsibility for obtaining Central Transmission Utility connectivity will rest entirely with the project developers and will be at their cost. The transmission of power up to the delivery point will be the responsibility of the successful developers.</p>
<p>Successful bidders should report the tie-up of financing arrangements, along with documentary evidence, for the projects within 12 months from the date of execution of the PPA.</p>
<p>Last December, Patel Infrastructure, Alfanar Power, KP Energy, and Powerica <a href="https://www.mercomindia.com/patel-infrastructure-alfanar-kp-energy-powerica-win-guvnls-250-mw-wind-auction" target="_blank" rel="noopener">won</a> Gujarat Urja Vikas Nigam’s (GUVNL) auction to set up 250 MW grid-connected wind power projects (Phase X).</p>
<p>India <a href="https://www.mercomindia.com/india-adds-1-6-gw-of-wind-capacity-in-q1-2026" target="_blank" rel="noopener">added</a> nearly 1.6 GW of wind power capacity in the first quarter (Q1) of the calendar year 2026, up 14% quarter-over-quarter from 1.3 GW. Capacity additions fell 16% year-over-year to 1.8 GW, according to Mercom India Research.</p>


GUVNL Announces Winners of 250 MW Wind Auction


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/07/amazon_polly_68433.mp3?version=1780467907">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>JSW Neo Energy (<a href="https://www.jsw.in/energy" target="_blank" rel="noopener">JSW Energy</a>), <a href="https://www.powericaltd.com/" target="_blank" rel="noopener">Powerica</a>, and <a href="https://www.torrentpower.com/" target="_blank" rel="noopener">Torrent Power</a> were declared winners in Solar Energy Corporation of India’s (<a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>) auction to set up 1.35 GW inter-state transmission system (ISTS)-connected wind power projects with a 700 MW greenshoe option (Tranche-XVI).</p>
<p>For projects to be set up in Gujarat, JSW won 350 MW at a tariff of ₹3.61 (~$0.0431)/kWh. JSW was also awarded an additional 350 MW at a tariff of ₹3.61 (~$0.0431)/kWh under the greenshoe option.</p>
<p>Powerica quoted a tariff of ₹3.70 (~$0.0442)/kWh to win 50 MW.</p>
<p>For projects to be set up in Karnataka, Torrent won 100 MW at a tariff of ₹3.60 (~$0.0430)/kWh.</p>
<p>JSW quoted a tariff of ₹3.68 (~$0.0440)/kWh to win 150 MW. JSW was also awarded an additional 175 MW at a tariff of ₹3.60 (~$0.0430)/kWh under the greenshoe option.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/SECIs-1350-MW-ISTS-Wind-Projects-Tranche-XVI-Auction-Result.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-68450 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/SECIs-1350-MW-ISTS-Wind-Projects-Tranche-XVI-Auction-Result.png" alt="SECI's 1,350 MW ISTS Wind Projects (Tranche-XVI) Auction Result" width="777" height="386" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/SECIs-1350-MW-ISTS-Wind-Projects-Tranche-XVI-Auction-Result.png 777w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/SECIs-1350-MW-ISTS-Wind-Projects-Tranche-XVI-Auction-Result-300x149.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/SECIs-1350-MW-ISTS-Wind-Projects-Tranche-XVI-Auction-Result-768x382.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/SECIs-1350-MW-ISTS-Wind-Projects-Tranche-XVI-Auction-Result-650x323.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/SECIs-1350-MW-ISTS-Wind-Projects-Tranche-XVI-Auction-Result-624x310.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/SECIs-1350-MW-ISTS-Wind-Projects-Tranche-XVI-Auction-Result-600x298.png 600w" sizes="auto, (max-width: 777px) 100vw, 777px" /></a></p>
<p>The tender was <a href="https://www.mercomindia.com/seci-ists-wind-projects-greenshoe/" target="_blank" rel="noopener">floated</a> in December 2023.</p>
<p>SECI will enter into a power purchase agreement (PPA) with the developers to acquire wind power for 25 years.</p>
<p>To connect to the grid and measure electricity, the project developer must adhere to the relevant grid code, grid connectivity standards, communication system regulations, and other rules issued by the appropriate commissions and Central Electricity Authority.</p>
<p>The minimum voltage level for an ISTS connection should be 220 kV.</p>
<p>The declared or revised annual capacity utilization factor (CUF) should always be above 22%. The developer must sustain electricity generation to achieve an annual CUF between 80% and 120% of the declared or revised value throughout the 25-year PPA period.</p>
<p>Only well-established technologies must be deployed to reduce technological uncertainties and ensure timely power generation from the projects.</p>
<p>Only wind turbine models certified in the Ministry of New and Renewable Energy’s Revised List of Models and Manufacturers must be used.</p>
<p>In May, SECI <a href="https://www.mercomindia.com/seci-invites-bids-connected-wind-power-projects/" target="_blank" rel="noopener">invited</a> bids to select wind power developers to set up 500 MW ISTS-connected projects anywhere in India under Tranche-XVII.</p>


powerica

Get the most relevant India solar and clean energy news.

RECENT POSTS