MENA Weekly Round-Up: Oman Tenders 1 GW of Solar Projects

Silver Demand Forecast to Drop 19% in 2026 on Lower Solar Cell Loadings

Midwest Energy Starts Production at 1.2 GWh Battery Storage Plant

Maharashtra Road Corporation Seeks 115 MW Solar Open Access Power

DCM Shriram to Procure 58 MW of Power from Serentica’s Hybrid Project

Bihar Regulator Approves Generic Renewable Energy Tariffs for FY 2027

Grid Software Solutions Provider Piq Energy Raises $5 Million in Funding

Sonnedix Acquires 260 MW Battery Storage Portfolio in Italy

Fidra Secures $312 Million Debt for West Burton Battery Project

POWERGRID Tenders 500 MW/1,000 MWh Battery Energy Storage Projects

<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/2026/04/amazon_polly_93720.mp3?version=1776840084">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-sigenergy-raises-562-million-ipo/" target="_blank" rel="noopener">Mercom Capital Group</a>
Sigenergy Technology, a provider of home battery storage and commercial solar solutions, <a href="https://mercomcapital.com/sigenergy-technology-raises-562-million-in-hong-kong-ipo/" target="_blank" rel="noopener">raised</a> over HK$4.4 billion (~$562 million) through its initial public offering (IPO) on the Hong Kong Stock Exchange. The Shanghai-headquartered company began trading on April 16, 2026, at an offer price of HK$324.2 (~$41.3) per share. If the overallotment option is fully exercised, total proceeds from the offering could reach HK$5.06 billion (~$646 million).
Renewable Metals, an Australia-based lithium-ion battery recycling company, <a href="https://mercomcapital.com/battery-recycling-company-renewable-metals-secures-8-6-million-in-series-a-funding/" target="_blank" rel="noopener">secured</a> AU$12 million (~$8.6 million) in an oversubscribed Series A funding round. The funding increased from an initial target of AU$8 million (~$5.7 million), bringing the company’s total funding to over AU$38 million (~$27 million) since inception. The round was led by the Clean Energy Finance Corporation, and managed by Virescent Ventures, with participation from Neglected Climate Opportunities, Climate Tech Partners, Investible, and European Metal Recycling.
Rebound Technologies, a U.S.-based thermal energy storage startup, <a href="https://mercomcapital.com/thermal-energy-storage-startup-rebound-technologies-secures-2-million-investment/" target="_blank" rel="noopener">secured</a> a $2 million strategic investment from KCC Manufacturing, a company that provides design, manufacturing, installation, and service in the HVAC industry. KCC Manufacturing, which has supported Rebound since the early stages of its thermal cooling system’s development, is now strengthening its partnership through this investment.
CleanPeak Energy Holdings, an Australia-based renewable energy project developer focused on solar, battery energy storage systems, and thermal energy solutions, <a href="https://mercomcapital.com/cleanpeak-energy-to-acquire-sustainable-energy-infrastructure/" target="_blank" rel="noopener">signed</a> an agreement to acquire 100% of Sustainable Energy Infrastructure, a developer and owner of distributed solar and battery assets. The financial terms of the acquisition were not disclosed. The acquisition will help strengthen CleanPeak’s position in the distributed energy segment and accelerate the growth of its in-front-of-the-meter solar portfolio.
Quality assurance services provider Intertek Group <a href="https://www.mercomindia.com/intertek-group-acquires-mitsui-chemicals-solar-module-testing-lab-in-gujarat" target="_blank" rel="noopener">acquired</a> the assets of Japan-based chemicals company Mitsui Chemicals India’s solar photovoltaic testing laboratory in Ahmedabad, Gujarat, India. The laboratory will drive support for solar module manufacturers by raising efficiencies through harmonized testing and enabling faster global market access.
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-terawatt-technology-closes-funding-round" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Sigenergy Technology Raises $562 Million in IPO

<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/2026/04/amazon_polly_93719.mp3?version=1776840137">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/project-finance-brief-elgin-secures-672-million-for-solar-storage-pipeline/" target="_blank" rel="noopener">Mercom Capital Group</a>
Elgin, an integrated, utility-scale solar and storage independent power producer, <a href="https://mercomcapital.com/elgin-secures-672-million-for-1-gw-solar-and-storage-pipeline-in-the-uk/" target="_blank" rel="noopener">secured</a> up to £500 million (~$672 million) of funding from a banking syndicate to accelerate the build-out of its U.K. pipeline over the coming years. The banking group, including BNP Paribas, Siemens Bank, Société Générale, Standard Chartered, and NatWest, also acted as the sole structuring and coordinating bank.
Atlas Renewable Energy, a solar and wind project developer, <a href="https://mercomcapital.com/atlas-renewable-energy-secures-121-million-for-el-campano-solar-project/" target="_blank" rel="noopener">secured</a> COP453.95 billion (~$121 million) in financing for the 128.8 MWdc/99.9 MWac El Campano solar project in Córdoba, Colombia, achieving financial close and enabling construction. The financing package is structured under a project finance framework, combining private equity with long-term project finance debt. It includes a loan of COP292.1 billion (~$78 million) and a commercial credit of COP58.38 billion (~$16 million).
ContourGlobal, an international independent power producer backed by KKR, <a href="https://mercomcapital.com/contourglobal-secures-52m-refinancing-solar-portfolio-greece/" target="_blank" rel="noopener">secured</a> €43.8 million (~$52 million) in refinancing from Eurobank for a 36.7 MW operational solar portfolio in Greece. The refinancing covers the majority of the acquisition cost of a portfolio comprising 26 operational solar projects, held across seven special purpose vehicles. The projects, with a combined installed capacity of 36.7 MW, were commissioned between 2011 and 2022.
Sweden-based Orrön Energy, a renewable energy project developer focused on onshore renewable energy assets, <a href="https://mercomcapital.com/orron-energy-sells-91-mw-agrivoltaic-project-in-germany/" target="_blank" rel="noopener">completed</a> the sale of a 91 MW agrivoltaic project with a co-located battery option in Eastern Germany to Gülermak Renewables, an independent power producer. The total consideration for the transaction is up to €5.6 million (~$6.6 million), including the reimbursement of development costs.
Altus Power, an independent developer, owner, and operator of commercial-scale solar projects, <a href="https://mercomcapital.com/altus-power-acquires-solar-storage-project-in-new-york/" target="_blank" rel="noopener">announced</a> the acquisition of a solar + storage project from Arevon, located on the carport at the Croton‑Harmon Train Station in Westchester County, New York. The project consists of approximately 4.2 MW of solar generation, integrated with a 15 MWh battery energy storage system.
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’s project finance <a href="https://www.mercomindia.com/project-finance-brief-origis-energy-secures-118-million" target="_blank" rel="noopener">brief</a>.

Project Finance Brief: Elgin Secures $672 Million for Solar, Storage Pipeline

Australian battery recycling startup <a href="https://www.renewable-metals.com/" target="_blank" rel="noopener">Renewable Metals</a> closed an A$8 million (~$5 million) investment round to scale and commercialize its lithium-ion battery recycling technology.
The funding was led by Asia Pacific-based venture capital firm Investible via its early-stage Climate Tech Fund, with additional participation from the U.S.-based venture capital investor, the Grantham Foundation for the Protection of the Environment, and CEFC.
The investment round is expected to support Renewable Metals in developing a pilot plant in Perth, constructing a larger-scale demonstration plant capable of processing up to 1,500 tons of battery waste annually.
Virescent Ventures Partner Blair Pritchard said, “There is a growing global need for effective waste management strategies as demand for lithium-ion batteries rises, driven by the increasing electrification of transport and the renewable energy generation storage sector.”
“Battery recycling that extracts valuable metals and materials is an important part of building Australia’s circular economy as demand for batteries grows. By developing end-of-life battery systems, Australia can participate across the battery value chain, from critical minerals extraction, refining, processing operation and maintenance and the eventual repurposing and recycling of batteries and components,” he added.
Renewable Metals technology uses alkaline leaching that eliminates the need to pre-process battery cells to ‘black mass’ as found in existing battery recycling processes. The simpler extraction method developed by Renewable Metals claims to use fewer ​​chemicals to recover critical battery materials and produces less waste, reducing processing costs by up to 30%.
Battery Recycling Market has seen a sharp increase in funding activity in the past few months, led by Redwood Materials, which <a href="https://www.mercomindia.com/redwood-1-billion-expand-battery-supply-chain-us" target="_blank" rel="noopener">raised</a> $1 billion in a Series D funding round. Ascend Elements, another battery recycling company, also <a href="https://www.mercomindia.com/ascend-elements-battery-materials-production-in-us" target="_blank" rel="noopener">raised</a> $460 million in a Series D funding round.
According to Mercom’s 1H And Q2 2023 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-q2-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report</a> for Storage &amp; Smart Grid, Venture Capital funding for energy storage companies was up in Q2 2023 with $2.7 billion in 24 deals, a 148% increase compared to $1.1 billion in 19 deals in Q1 2023.

Battery Recycling Startup Renewable Metals Raises $5 Million

renewable-metals

Get the most relevant India solar and clean energy news.

RECENT POSTS