RenewSys to Supply 1.1 GW POE Encapsulants to Kosol Energie

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Rajasthan Electronics Floats Tender for 10 MW Rooftop Solar Projects

Daily News Wrap-Up: UP Solar Open Access Gains Pace with Data Centers

Tamil Nadu Electricity Regulator Approves TNGECL’s 420 MW KUSUM Tender

India’s Solar Exports Up 65% in Q3 2025, Imports Down 15.1%

Month in a Minute: Top Headlines from the Indian Renewable Sector in November 2025

TNGECL Invites Bids for 20 MW Rooftop Solar Projects on Government Buildings

MNRE Flags Solar Module Glut, Asks Lenders to Fund Upstream Manufacturing

Mahanadi Coalfields Issues EoI for 60 MWh BESS Project in Odisha


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-quino-energy-raises-10-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Quino Energy, a company developing water-based organic flow batteries, </strong><a href="https://mercomcapital.com/quino-energy-raises-a-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $10 million in Series A funding from Atri Energy Transition</strong>, a company focused on the deployment of Long Duration Energy Storage. The funding agreement also allows the company to access an additional $6 million in equity funding if necessary, bringing the total investment to up to $16 million. The company will use this funding to increase the production of its proprietary organic flow battery electrolyte beyond the U.S. and demonstrate it in real-world field pilot projects by pairing it with commercially available flow battery hardware.</p>
<p><strong>Solfium, a company that provides integrated solar energy solutions, has </strong><a href="https://mercomcapital.com/solar-tech-company-solfium-raises-7-million-in-series-a-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> the initial $7 million equity investment in its $10 million Series A funding round</strong>. The funding was led by Accion and ALIVE Ventures, with participation from Kamay Ventures. Through partnerships with financial institutions, Solfium offers financing options, helping to increase solar adoption for large businesses and micro, small, and medium-sized enterprises. With this new funding, the company plans to reach businesses, including underserved owner-managed operations which will benefit from financial inclusion initiatives powered by its technological stack and partnerships.</p>
<p><strong>Flux XII, a company developing advanced materials for aqueous flow batteries, has </strong><a href="https://mercomcapital.com/flow-battery-startup-flux-xii-secures-4-million-in-seed-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $3.95 million in seed funding</strong>. The funding round was led by The Grantham Foundation, with participation from the Wisconsin Alumni Research Foundation (WARF), Desai Ventures, and gener8tor. With this funding, the company has already increased electrolyte and membrane production in industrial facilities and started testing multiple kilowatt-scale prototypes.</p>
<p><strong>Waaree Forever Energies, a wholly owned subsidiary of Waaree Energies, has </strong><a href="https://www.mercomindia.com/waaree-to-acquire-100-stake-in-sunbreeze-ninth-cloud" target="_blank" rel="noopener"><strong>executed</strong></a><strong> a share purchase agreement to acquire a 100% stake in renewable solutions provider</strong>, Sunbreeze Ninth Cloud. The acquisition is subject to the fulfillment of certain conditions precedent and is expected to be completed by November 30, 2025, or on a later date mutually agreed upon by the parties. According to Mercom sources, the acquisition is of a solar project with a capacity of nearly 50 MW in Maharashtra. Waaree has been acquiring multiple companies in the power sector.</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-sax-power-raises-11-6-million" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Quino Energy Raises $10 Million


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-energy-storage-company-fluence-raises/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Fluence, a provider of energy storage products and services, <a href="https://mercomcapital.com/energy-storage-company-fluence-secures-debt-financing/" target="_blank" rel="noopener">announced</a> that it has entered into a four-year $400 million Asset Backed Lending (ABL) credit facility</strong> maturing in November 2027. The funding is secured by the company’s eligible inventory and other assets and replaces the existing $200 million Revolving Credit Facility (RCF), which was terminated.</p>
<p><strong>Stardust Power, a manufacturer of battery-grade lithium products,</strong><a href="https://mercomcapital.com/lithium-company-stardust-power-public-spac-deal/" target="_blank" rel="noopener"><strong> entered</strong></a><strong> into a definitive agreement for a business combination with Global Partner Acquisition Corp. II</strong>, a publicly traded special purpose acquisition company, that would result in Stardust Power becoming a publicly listed company on the Nasdaq under the new ticker symbol ‘SDST’. The Pro forma implied an enterprise value of around $490 million for the combined company.</p>
<p><strong>OVO Energy, an independent energy supplier that provides gas and electricity services to residential and business customers, </strong><a href="https://mercomcapital.com/ovo-energy-acquires-ev-charging-app-provider-bonnet/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of the UK Public Electric Vehicle (EV) Charging Aggregator Startup Bonnet.</strong> Bonnet provides a platform that combines nationwide public EV charge point operators on one app, helping drivers locate, use, and pay without switching between different cards or logins.</p>
<p><strong>India-based electric vehicle company Baaz Bikes has </strong><a href="https://www.mercomindia.com/electric-mobility-bikes-raises-8-million" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the completion of its Series A funding round, raising $8 million.</strong> The funding round was led by Singapore-based BIG Capital with participation from Rakuten Capital, Japan-based Rakuten Group’s venture capital arm, along with existing investors like Kalaari Capital, 9Unicorns, and Sumant Sinha. Baaz Bikes develops electric scooters and battery-swapping solutions for gig workers.</p>
<p><strong>Solfium, a solar-tech company, <a href="https://mercomcapital.com/solar-tech-company-solfium-raises-3-million-seed-funding/" target="_blank" rel="noopener">raised</a> $3 million in seed funding</strong> to expand its operational capacity, invest in technology and improve its sales pipeline. The funding saw participation from Redwood Ventures, RaliCap, Katapult VC, Savia Ventures, Propulia Capital and others. The company provides retail customers with an end-to-end digital platform that facilitates the adoption of solar energy for their homes and businesses and shovel-ready solutions for corporate customers.</p>
<p><strong>Longroad Energy Holdings, a renewable energy developer, owner, and operator, </strong><a href="https://www.longroadenergy.com/longroad-energy-secures-600-million-in-debt-financing-to-power-expansion-of-its-renewable-energy-portfolio/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the close of a $600 million debt financing</strong> to further accelerate the growth of its wind, solar, and battery portfolio. The credit facility is composed of a $275 million term loan, a $175 million revolving credit facility, and a $150 million letter of credit facility. The syndicated corporate credit facility was led by Apterra Infrastructure Capital, a platform company of Apollo and joint lead arrangers Barclays and HSBC.</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-element-energy-secures-111-million" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Energy Storage Company Fluence Raises $400 Million

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