Maharashtra Drafts New Banking Rules, Storage Mandate for Rooftop Solar

PFC Tenders Transmission System to Evacuate 2 GW of Renewables

MERC Proposes Tighter Deviation Settlement Rules for Solar, Wind Projects

Maharashtra Proposes Capacity-Based Banking for Renewable Open Access

Ayana Seeks Partner for 2.5 GWh Battery Cell Manufacturing Facility

Haryana Regulator Rejects Plea to Raise Net-Metering Limit for Solar Project

CEL Invites EoIs for Solar, Data Center, and Semiconductor Projects

CERC Proposes Congestion Charges, New Commissioning Rules for Energy Storage

Kerala Clothing Wholesaler Adopts Rooftop Solar to Lower Power Bills

Yarn Manufacturer’s Power Costs Drop With Rooftop Solar


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					</table><p><a href="https://www.lithium-argentina.com/" target="_blank" rel="noopener">Lithium Argentina</a>, a producer of lithium carbonate for lithium-ion batteries, has closed a $180 million strategic investment from Ganfeng Lithium Group through the issuance of a six-year unsecured convertible note.</p>
<p>The note carries an annual coupon of 4% and matures six years from issuance. It can be converted into Lithium Argentina common shares at $12.50 per share, according to terms the company announced in August of this year.</p>
<p>Lithium Argentina plans to use the net proceeds from the investment, together with cash on hand, to fully repay its $259 million convertible notes due in January 2027.</p>
<p>Sam Pigott, CEO at Lithium Argentina commented, “With the funds from the Strategic Investment and cash distributions from Cauchari-Olaroz, Lithium Argentina now has a materially stronger balance sheet, with lower net debt, a six-year maturity profile and a low cost of capital. That combination gives us the flexibility to advance Stage 2 at Cauchari-Olaroz and support PPG in a disciplined, phased approach that limits equity dilution and unlocks the value of both assets for our shareholders.”</p>
<p>The transaction comes as debt and public market financing activity in the energy storage sector remained largely steady. According to Mercom’s recently <a href="https://mercomcapital.com/product/1h-2026-funding-ma-report-energy-storage/" target="_blank" rel="noopener">released</a> 1H 2026 Funding and M&amp;A for Energy Storage report, announced debt and public market financing totaled $7.3 billion across 22 deals in the first half of 2026, compared with $7.4 billion across 19 deals in the same period of 2025.</p>
<p>Ganfeng currently owns approximately 9.6% of Lithium Argentina&#8217;s issued and outstanding common shares. If the $180 million note is fully converted at $12.50 per share, Ganfeng would receive 14.4 million additional common shares, increasing its ownership to approximately 16.1% on a fully diluted basis, according to the company.</p>
<p>Lithium Argentina and Ganfeng are also working to complete their joint venture to consolidate the Pozuelos-Pastos Grandes lithium project in Argentina&#8217;s Salta province. Lithium Argentina said the transaction remains on track for completion by the end of September 2026.</p>
<p>The companies also jointly operate the Cauchari-Olaroz lithium brine operation in Argentina&#8217;s Jujuy province.</p>
<p>In December 2025, Stardust Power, a developer of battery-grade lithium carbonate, <a href="https://mercomcapital.com/stardust-power-secures-15-million-debt-financing/" target="_blank" rel="noopener">signed</a> a securities purchase agreement with a single institutional investor, providing up to $15 million in senior secured convertible debt financing.</p>


Lithium Argentina Closes $180 Million Strategic Investment from Ganfeng


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					</table><p>A court in the U.S. has approved the sale of <a href="https://www.meyerburger.com/en/company/" target="_blank" rel="noopener">Meyer Burger</a>’s machinery and equipment for the production of solar modules to Waaree Solar Americas and solar cells to Babacomari Solar North for a total of approximately $29 million.</p>
<p>The company said this decision was driven by a failure to find an investor for the entire group of companies. It added that it will continue its efforts to sell parts of the group and/or its assets in Switzerland, Germany, and the U.S.</p>
<p>Meyer Burger Technology’s board of directors assessed that there is no possibility of rescuing the entire group of companies or the parent company. The board is seeking to conclude a composition agreement to rule out the possibility of paying a liquidation dividend to shareholders.</p>
<p>The silent debt moratorium granted to three of Meyer Burger’s Swiss companies, solar cell and module manufacturing arm Meyer Burger Technology and its subsidiaries, Meyer Burger Switzerland, and Meyer Burger Research, will continue as a regular provisional debt moratorium.</p>
<p>The company said the board of directors and the management board conducted intensive negotiations over multiple months to rescue the solar technology group, without success.</p>
<p>It attributed the failure to the challenging competitive environment resulting from extensive module imports from China at very low prices, as well as considerable uncertainties regarding the future promotion of renewable energies in both the U.S. and Europe.</p>
<p>In June this year, Meyer Burger Technology <a href="https://www.mercomindia.com/meyer-burger-shuts-arizona-facility-as-german-subsidiaries-file-for-insolvency" target="_blank" rel="noopener">announced</a> that its German subsidiaries, Meyer Burger (Industries) and Meyer Burger (Germany), had initiated insolvency proceedings as restructuring efforts were unsuccessful.</p>
<p>In the same month, Meyer Burger and its subsidiaries and debtor affiliates in the U.S. <a href="https://www.mercomindia.com/meyer-burger-files-bankruptcy-for-us-subsidiaries-and-debtor-affiliates" target="_blank" rel="noopener">filed</a> for Chapter 11 protection in the Bankruptcy Court for the District of Delaware. The company filed for bankruptcy for its debtor affiliates Meyer Burger (Arizona), Meyer Burger (Americas), Meyer Burger (America) Lease, and solar module manufacturer Goodyear.</p>


Meyer Burger to Sell Module Machinery to Waaree Amid Bankruptcy


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					</table><p>Switzerland-based collective assets manager Energy Infrastructure Partners AG (<a href="https://www.energy-infrastructure-partners.com/" target="_blank" rel="noopener">EIP</a>) announced the first closure of its global transition infrastructure fund by raising €1 billion (~$1.06 billion) commitments in collaboration with <a href="https://www.credit-suisse.com/ch/en/unternehmen/institutional-clients/asset-management.html" target="_blank" rel="noopener">Credit Suisse Investment Foundation</a>.</p>
<p>The fund will participate in two main investments that EIP completed earlier this year. The first is a 30% stake acquisition in <a href="https://www.boralex.com/" target="_blank" rel="noopener">Boralex Inc</a>’s French renewables platform, which has an installed generation capacity of over 1 GW.</p>
<p>The second investment was EIP <a href="https://mercomindia.com/funding-and-ma-roundup-repsol-renewables-stake/" target="_blank" rel="noopener">sharing</a> a 25% stake with <a href="https://www.credit-agricole.com/en/business-lines-and-brands/all-brands/credit-agricole-assurances" target="_blank" rel="noopener">Credit Agricole Assurances</a> in <a href="https://www.repsol.com/en/index.cshtml" target="_blank" rel="noopener">Repsol</a>’s global clean energy unit— Repsol Renovables &#8212; which has over 1.6 GW of installed generation capacity worldwide.</p>
<p>Repsol Renovables <a href="https://mercomindia.com/spain-auctions-146-mw-of-biomass-and-31-mw-of-solar-in-october/" target="_blank" rel="noopener">quoted</a> the lowest bid of €0.028 (~$0.033)/kWh for an onshore wind capacity of 49 MW in Spain’s auction for 520 MW of renewable projects in October.</p>
<p>These investments focus on expanding the operating asset base of Boralex and increasing its capacity three times. They will also support Repsol’s capacity to grow ten-fold by 2030 to cater to the European and American markets.</p>
<p>EIP said that throughout the first closure of its infrastructure fund, the company catered to the Swiss pension market in close collaboration with the Credit Suisse Foundation.</p>
<p>The company’s investment plans aim at specific system-critical energy infrastructure, including assets generating carbon-free energy, assets that transport energy such as power grids and transmission networks, and that store energy like grid-scale batteries and pumped storage power plants.</p>
<p>It will raise more funds for a second close and is working on expanding its reach outside Switzerland. The second close planned for the end of 2024 targets €4 billion (~$4.2 billion) in total commitments.</p>
<p>EIP’s head of global client solutions, Beat Goetz, said, “The strong demand from our longstanding Swiss client base— especially amid several choppy quarters in public markets and central banks’ movement away from a low-rate environment – is a strong vote of confidence in EIP and energy infrastructure. Considering the unique qualities of system-critical energy infrastructure, this space is seen more and more as its own asset class.”</p>


EIP Closes First Round of Global Transition Fund with €1 Billion Commitments

<p><a href="https://www.solarstratos.com/en/" target="_blank" rel="noopener noreferrer">SolarStratos</a>, a Switzerland-based technology firm, announced that its founder Raphael Domjan completed the first-ever skydive from a solar-powered plane over Payerne, Switzerland.</p>
<p>According to the press statement, Raphael Domjan jumped from the two-seater plane after it soared to an altitude of 1,520 meters (5,000 feet). The parachutist reached a speed of over 150 kilometers/hour during his fall</p>
<p>“Our aim is to demonstrate the potential of solar energy and electric mobility can be utilized to carry out activities such as skydiving without greenhouse gas emissions,” said Raphael Domjan.</p>
<p>The company added that test pilot Miguel A. Iturmendi and Raphael Domjan took off the solar-powered plane from the Broyard airfield</p>
<p>SolarStratos said that pilots had taken two test flights before the skydive. The test flights were designed to settle technical details to enhance the altitude and duration of the flight. It added that SolarStratos became the second solar-powered plane in history to fly with passengers.</p>
<p>According to Solar Impulse Foundation, its long-range solar-powered aircraft Solar Impulse 2 became the first solar-powered plane to travel around the globe in July 2016. The plane was equipped with 17,428 solar cells and four power batteries to supply the power to an aircraft engine.</p>
<p>“The aircraft’s climbing performance is good, better than I imagined. And you have to be vigilant when landing as the plane needs a long landing distance,” said Miguel A. Iturmendi, Test Pilot at SolarStratos.</p>
<p>According to SolarStratos’ website, the solar-power plane is equipped with solar cells with an efficiency of around 22% to 24% as well as a lithium-ion battery with a capacity of 20 kW. Calin Gologan, Chief Aircraft Designer and Chief Executive Officer of <a href="https://www.elektra-solar.com/" target="_blank" rel="noopener noreferrer">Elektra-Solar</a>, designed the aircraft.</p>
<p>Last year, Israel’s leading research university, <a href="https://in.bgu.ac.il/en/Pages/default.aspx" target="_blank" rel="noopener noreferrer">Ben-Gurion University</a>, <a href="https://mercomindia.com/nasa-solar-generator-international-space-2020/" target="_blank" rel="noopener noreferrer">designed</a> a miniaturized solar-power prototype that would help private commercial space missions. Designed by Professor Jeffrey Gordon and his U.S. colleagues, the BGU’s prototype consists of a compact, low-mass, molded-glass solar concentrator bonded to monolithic integration of transfer-printed micro-scale solar cells.</p>
<p>Meanwhile, in India, on its 70<sup>th</sup> Republic Day celebrations last year, the Indian Air Force <a href="https://mercomindia.com/republic-day-indian-air-force-aircraft-biofuel/" target="_blank" rel="noopener noreferrer">led the way</a> towards a greener future by utilizing biofuel for its aircraft during the fly-past ceremony.</p>
<p>Image Credit: SolarStratos</p>


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