NTPC Mining Invites EoIs for 40 MW Solar Power Projects

Uttar Pradesh Regulator Admits Data Center Power Distribution License Plea

Bihar Draft Grid Code Proposes Primary Frequency Response for Renewables

Dilip Buildcon to Sell Stakes in Under-Construction Solar, Transmission Projects

European Energy Secures $78 Million for UK Solar and Battery Project

CIP Secures $510 Million for Solar Plus Storage Project in Mexico

Lloyds Metals to Procure 66 MW of Wind, Solar Power from Gentari

Pune Manufacturer Eyes ₹12 Million/Year Power Savings with Rooftop Solar

Naked Energy Raises $12 Million to Expand Solar Thermal Manufacturing

Websol Energy’s Q1 FY 2027 Profit Rises 16% YoY on Higher Production


					<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/2026/08/amazon_polly_102478.mp3?version=1785906910">
			</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-base-power-raises-1billion-funding-round/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Base Power, a distributed energy storage solutions provider, has <a href="https://mercomcapital.com/base-power-raises-1-billion-in-series-d-funding-round/" target="_blank" rel="noopener">raised</a> $1 billion in Series D financing</strong> at a post-money valuation of $13 billion and started producing Base Core, the company’s new residential battery, at its manufacturing facility in Austin, Texas. The company said it has raised over $2.5 billion in capital to date. This new capital will go toward bringing Base Core to more homes, expanding nationally, and recruiting employees.</p>
<p><strong>Antora Energy, a developer of thermal batteries, has <a href="https://mercomcapital.com/thermal-battery-company-antora-energy-raises-550-million/" target="_blank" rel="noopener">raised</a> $550 million in an oversubscribed Series C funding</strong> round co-led by G2 Venture Partners and Eclipse. The company develops thermal batteries that store electricity as heat in insulated solid carbon blocks. The systems can deliver stored energy as heat or electricity for industrial facilities, data centers, and grid applications. Antora plans to use the proceeds to accelerate project deployments, expand production, establish a second manufacturing hub in the U.S., and strengthen its domestic supply chain.</p>
<p><strong>Zenobē, an owner and operator of grid-scale battery storage, has <a href="https://mercomcapital.com/zenobe-acquires-battery-energy-storage-project-developer-sdp-energie/" target="_blank" rel="noopener">acquired</a> Bavaria-based battery energy storage developer sdp energie</strong>. According to Zenobē, this acquisition is expected to gain access to a 1.75 GW pipeline of transmission-connected battery storage projects across six sites in Germany, marking Zenobē’s first significant move into Germany’s battery energy storage market. sdp energie has more than 100 battery storage projects under development across Germany, Austria, and the Czech Republic.</p>
<p><strong>Tandem PV, a manufacturer of perovskite-silicon solar panels, has <a href="https://mercomcapital.com/tandem-pv-acquires-nextc-thin-film-coating-technology/" target="_blank" rel="noopener">acquired</a> Oregon-based nexTC,</strong> a developer of thin-film metal oxide coating processes. The acquisition will bring nexTC’s coating technology, intellectual property, and technical expertise into Tandem PV’s operations. Tandem PV said the transaction would give it greater control over a coating process used in its tandem solar panels as it expands its demonstration production line in Fremont, California, and prepares for commercial-scale manufacturing.</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-sila-raises-300-million-funding" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Base Power Raises $1 Billion in 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/2026/08/amazon_polly_102443.mp3?version=1785848482">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://www.tandempv.com/" target="_blank" rel="noopener">Tandem PV</a>, a manufacturer of perovskite-silicon solar panels, has acquired Oregon-based <a href="https://www.nextcmaterials.com/" target="_blank" rel="noopener">nexTC</a>, a developer of thin-film metal oxide coating processes.</p>
<p>The acquisition will bring nexTC’s coating technology, intellectual property, and technical expertise into Tandem PV’s operations. Tandem PV said the transaction would give it greater control over a coating process used in its tandem solar panels as it expands its demonstration production line in Fremont, California, and prepares for commercial-scale manufacturing.</p>
<p>Founded in 2018, nexTC develops solution-based transparent oxide coatings. Tandem PV said the ultrathin coatings modify the movement of electrical charges while allowing sunlight to reach the silicon solar cell beneath it.</p>
<p>The transaction follows Tandem PV’s opening of a 65,000-square-foot commercial demonstration factory in Fremont. Its production line has approximately 40 MW of annual nameplate capacity and is producing large-format tandem solar panels for customer validation and market trials.</p>
<p>Tandem PV’s panel design combines a perovskite light-absorbing layer with a conventional silicon solar cell. The company said each material absorbs a different portion of the solar spectrum, allowing the panel to generate more electricity from a given surface area, which could reduce the land, labor, and infrastructure required per watt of installed solar capacity.</p>
<p><a href="https://mercomcapital.com/tandem-pv-raises-50-million/" target="_blank" rel="noopener">Tandem PV</a> raised $50 million in Series A and debt funding in March 2025, which it planned to use to construct a commercial-scale manufacturing facility in the U.S. and accelerate adoption of its solar panels.</p>
<p>The company said it has raised $100 million through venture capital, debt, and government funding.</p>
<p>In 1H 2026, corporate M&amp;A activity in the solar sector increased with 57 transactions compared to 50 transactions in the first half of 2025, as per the recently <a href="https://mercomcapital.com/product/1h-and-q2-2026-solar-funding-and-ma-report" target="_blank" rel="noopener">released</a> Mercom’s 1H and Q2 2026 Solar Funding and M&amp;A Report.</p>


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


					<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_93705.mp3?version=1776775394">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Perovskite-based solar panel developer <a href="https://www.tandempv.com/" target="_blank" rel="noopener">Tandem PV</a> has opened a 40 MW commercial demonstration factory in Fremont, California, marking a step toward scaling up next-generation perovskite-silicon solar manufacturing in the U.S.</p>
<p>The 65,000-square-foot facility is designed to transition the company’s technology from laboratory-scale development to commercial production for utility-scale applications.</p>
<p>The Fremont facility produces tandem solar panels that integrate a thin perovskite layer with a conventional silicon solar cell to capture more energy across a broader portion of the solar spectrum.</p>
<p>The company reported internal testing results showing module efficiency of 29.7%. In accelerated lifetime testing, the latest generation of panels recorded an average annual power degradation of less than 1%, representing about a tenfold improvement over the previous year&#8217;s results.</p>
<p>According to the company, this design increases power output per unit area compared to traditional silicon panels, helping lower overall system costs. While module efficiency is critical, about 75% of utility-scale solar project costs are attributable to land, labor, and balance-of-system components, making higher-efficiency panels economically significant.</p>
<p>The production line uses advanced manufacturing equipment and produces panels approximately 60 times larger than those produced by the company’s earlier research and development devices.</p>
<p>Tandem PV had <a href="https://www.mercomindia.com/funding-and-ma-roundup-tandem-pv-raises-50-million" target="_blank" rel="noopener">raised</a> $50 million in Series A and debt funding, intended for the construction of a commercial-scale manufacturing facility and to accelerate the adoption of its solar panels.</p>
<p>Last November, researchers at the Massachusetts Institute of Technology <a href="https://www.mercomindia.com/researchers-develop-protective-polymer-coating-for-perovskite-cells" target="_blank" rel="noopener">reported</a> developing a lightweight, two-dimensional polyaramid polymer that can serve as a protective coating for solar cells, electronics, and infrastructure. This degree of impermeability positions the material as a potential barrier to slow degradation and corrosion in technologies such as perovskite solar cells.</p>
<p>In 2025, a study by the U.S. Department of Energy’s National Renewable Energy Laboratory <a href="https://www.mercomindia.com/nrel-claims-a-boost-in-perovskite-solar-cell-efficiency-using-ionic-salt" target="_blank" rel="noopener">reported</a> improved perovskite solar cell performance by replacing the commonly used fullerene (C60) electron transport layer with a newly synthesized ionic salt, referred to as CPMAC.</p>


Tandem PV Opens 40 MW US Factory to Scale Perovskite Solar Panels

<p><strong>Tandem PV, a perovskite-based solar panel developer, has </strong><a href="https://cms.mercomindia.com/tandem-pv-raises-50-million/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $50 million in Series A and debt funding</strong>, which it plans to use to construct a commercial-scale manufacturing facility in the U.S. and speed up the adoption of its solar panels. The funding was led by Eclipse, with participation from Constellation Energy, Planetary Technologies, Uncorrelated Ventures, Trellis Climate, Tom Werner, former CEO of SunPower, Stifel Bank, CSC Leasing, and other existing and new investors.</p>
<p><strong>Global investment group CDPQ has announced it will </strong><a href="https://www.mercomindia.com/investment-group-cdpq-to-acquire-innergex-renewable-energy-for-10-billion" target="_blank" rel="noopener"><strong>acquire</strong></a><strong> all the issued and outstanding common shares of renewable power producer Innergex Renewable Energy for $13.75 per share in cash</strong>. The acquisition marks an approximately 58% increase over the closing price of common shares on the Toronto Stock Exchange. The acquisition was approved by Innergex’s common shareholders, fulfilling other customary closing conditions as well. The total transaction value is $10 billion.</p>
<p><strong>Lithium Americas, a mineral and mining company, has </strong><a href="https://cms.mercomindia.com/lithium-americas-announces-250-million-investment-from-orion/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> an investment of $250 million from fund entities managed by Orion Resource Partners (Orion)</strong>, an investment firm dedicated to metals and materials. The investment will be used to develop and construct Phase 1 of the Thacker Pass lithium project in Humboldt County, Nevada. Lithium Americas expects the strategic investment from Orion to enable it to make an affirmative final investment decision on the Thacker Pass joint venture for Phase 1.</p>
<p><strong>Wang &amp; Lee Group (WLG), a sustainable technology solutions provider specializing in energy storage systems and smart infrastructure, </strong><a href="https://cms.mercomindia.com/wang-lee-group-to-acquire-solar-energy-company-solarhk/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> its acquisition of SolarHK</strong>, a solar energy company, through an allotment of shares valued at approximately HK$15 million (~$1.9 million). The acquisition is expected to create synergies between WLG’s lithium-ion battery research, which was developed in collaboration with the City University of Hong Kong, and SolarHK’s solar technology and network.</p>
<p><strong>Omnidian, a performance assurance provider for renewable energy assets, </strong><a href="https://cms.mercomindia.com/omnidian-acquires-solar-service-guys/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> its acquisition of Solar Service Guys (SSG)</strong>, which provides system lifecycle service and support for residential and commercial solar investors. As per the terms of the agreement, SSG will be a fully integrated subsidiary of Omnidian, operating within Omnidian’s Australian arm.</p>
<p><strong>Independent power producer JSW Energy has </strong><a href="https://www.mercomindia.com/jsw-energy-12-billion-private-placement-debentures" target="_blank" rel="noopener"><strong>raised</strong></a><strong> ₹12 billion (~$137.70 million) through private placement of Non-Convertible Debentures (NCDs).</strong> In a BSE filing, the company said its finance committee had approved the allotment of 120,000 unsecured, rated, listed, taxable, redeemable NCDs, each with a face value of ₹100,000 (~$1,147). The issuance has been structured into two tranches with distinct tenures and interest rates.</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://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week’s funding <a href="https://cms.mercomindia.com/funding-ma-roundup-smartsolar-raises-1-8-million-seed-funding/" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Tandem PV Raises $50 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/2025/03/amazon_polly_77358.mp3?version=1741755576">
			</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-and-ma-roundup-tandem-pv-raises-50-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Tandem PV, a perovskite-based solar panel developer, has </strong><a href="https://mercomcapital.com/tandem-pv-raises-50-million/"><strong>secured</strong></a><strong> $50 million in Series A and debt funding</strong>, which it plans to use to construct a commercial-scale manufacturing facility in the U.S. and speed up the adoption of its solar panels. The funding was led by Eclipse, with participation from Constellation Energy, Planetary Technologies, Uncorrelated Ventures, Trellis Climate, Tom Werner, former CEO of SunPower, Stifel Bank, CSC Leasing, and other existing and new investors.</p>
<p><strong>Global investment group CDPQ has announced it will </strong><a href="https://www.mercomindia.com/investment-group-cdpq-to-acquire-innergex-renewable-energy-for-10-billion"><strong>acquire</strong></a><strong> all the issued and outstanding common shares of renewable power producer Innergex Renewable Energy for $13.75 per share in cash</strong>. The acquisition marks an approximately 58% increase over the closing price of common shares on the Toronto Stock Exchange. The acquisition was approved by Innergex’s common shareholders, fulfilling other customary closing conditions as well. The total transaction value is $10 billion.</p>
<p><strong>Lithium Americas, a mineral and mining company, has </strong><a href="https://mercomcapital.com/lithium-americas-announces-250-million-investment-from-orion/"><strong>announced</strong></a><strong> an investment of $250 million from fund entities managed by Orion Resource Partners (Orion)</strong>, an investment firm dedicated to metals and materials. The investment will be used to develop and construct Phase 1 of the Thacker Pass lithium project in Humboldt County, Nevada. Lithium Americas expects the strategic investment from Orion to enable it to make an affirmative final investment decision on the Thacker Pass joint venture for Phase 1.</p>
<p><strong>Wang &amp; Lee Group (WLG), a sustainable technology solutions provider specializing in energy storage systems and smart infrastructure, </strong><a href="https://mercomcapital.com/wang-lee-group-to-acquire-solar-energy-company-solarhk/"><strong>announced</strong></a><strong> its acquisition of SolarHK</strong>, a solar energy company, through an allotment of shares valued at approximately HK$15 million (~$1.9 million). The acquisition is expected to create synergies between WLG’s lithium-ion battery research, which was developed in collaboration with the City University of Hong Kong, and SolarHK’s solar technology and network.</p>
<p><strong>Omnidian, a performance assurance provider for renewable energy assets, </strong><a href="https://mercomcapital.com/omnidian-acquires-solar-service-guys/"><strong>announced</strong></a><strong> its acquisition of Solar Service Guys (SSG)</strong>, which provides system lifecycle service and support for residential and commercial solar investors. As per the terms of the agreement, SSG will be a fully integrated subsidiary of Omnidian, operating within Omnidian’s Australian arm.</p>
<p><strong>Independent power producer JSW Energy has </strong><a href="https://www.mercomindia.com/jsw-energy-12-billion-private-placement-debentures"><strong>raised</strong></a><strong> ₹12 billion (~$137.70 million) through private placement of Non-Convertible Debentures (NCDs).</strong> In a BSE filing, the company said its finance committee had approved the allotment of 120,000 unsecured, rated, listed, taxable, redeemable NCDs, each with a face value of ₹100,000 (~$1,147). The issuance has been structured into two tranches with distinct tenures and interest rates.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week&#8217;s Funding and M&amp;A <a href="https://www.mercomindia.com/funding-and-ma-roundup-smartsolar-raises-seed-funding" target="_blank" rel="noopener">Roundup</a>.</p>


<p><a href="https://www.tandempv.com/" target="_blank" rel="noopener">Tandem PV</a>, a perovskite-based solar panel developer, has secured $50 million in Series A and debt funding, which it plans to use to construct a commercial-scale manufacturing facility in the U.S. and speed up the adoption of its solar panels.</p>
<p>The funding was led by Eclipse, with participation from Constellation Energy, Planetary Technologies, Uncorrelated Ventures, Trellis Climate, Tom Werner, former CEO of SunPower, Stifel Bank, CSC Leasing, and other existing and new investors.</p>
<p>&#8220;Tandem PV&#8217;s performance and progress are incredibly exciting, particularly given there have been minimal breakthroughs in solar technology for the past decade. Tandem PV&#8217;s impressive durability and efficiency is unmatched in the market, and it couldn&#8217;t come at a more critical time. By building a manufacturing facility in the U.S., Tandem PV will help the U.S. meet its growing energy needs while weaning off its dependence from China and other foreign manufacturers,&#8221; said Eclipse Partner Greg Reichow.</p>
<p>The company manufactures perovskite panels, which it claims can achieve 28% efficiency and could surpass 30% by late 2025, proving to be 30% more powerful than the average silicon solar panel. According to the company, these panels lower labor and land costs, offering customers a lower total cost of ownership and a sustainable path toward decarbonization.</p>
<p>In 2022, the company <a href="https://cms.mercomindia.com/tandem-pv-raises-series-a-funding/" target="_blank" rel="noopener">announced</a> an initial led by Bioeconomy Capital through its new Planetary Technologies fund, with participation from an international solar manufacturer and a U.S. utility company.</p>
<p>According to Mercom&#8217;s Annual and Q4 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-and-q4-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">Report</a>, global VC and private equity funding in the solar sector in 2024 came to $4.5 billion in 60 deals, 36% lower than the $7 billion raised in 70 deals in 2023. There were 14 VC funding deals of $100 million or more in 2024.</p>


Tandem PV Raises $50 Million

<p><a href="https://www.tandempv.com/" target="_blank" rel="noopener">Tandem PV</a>, a solar PV technology company, specializing in tandem metal-halide perovskite solar panels, announced the initial $6 million close of its $12 million Series A financing round.</p>
<p>The round was led by Bioeconomy Capital, an early-stage venture capital firm, through its new Planetary Technologies fund, with participation from an international solar manufacturer and a U.S. utility company. The company will use the funds to build a pilot manufacturing facility in San Jose, California, enabling it to enter its next growth phase in producing commercial-grade solar panels.</p>
<p>“Our mission is to find scalable Planetary Technologies that can help the world mature beyond fossil fuels at the pace necessary to avoid unsustainable warming,” said Rik Wehbring, Managing Director of Bioeconomy Capital and a Board Member at Tandem PV. “Tandem PV is commercializing transformative technology that achieves this goal.”</p>
<p>According to Mercom’s Q1 2022 solar funding and M&amp;A <a href="https://cms.mercomindia.com/corporate-funding-solar-sector-up-q1-2022/" target="_blank" rel="noopener">report</a>, global VC funding for the solar sector in Q1 2022 came to $1.2 billion in 26 deals, a 45% decrease compared to $2.2 billion raised in 19 deals in Q4 2021. Year-over-year funding was 19% higher compared to Q1 2021.</p>
<p>A total of 58 VC investors participated in Q1 2022 compared to 33 in Q4 2021.</p>
<p>In April 2021, Perch Energy, a Boston-based clean energy tech and services company that offers a diverse set of products and services for homeowners, renters, businesses, and solar project owners, <a href="https://cms.mercomindia.com/perch-energy-raises-series-a-funding/" target="_blank" rel="noopener">raised</a> $6.2 million in a Series A funding round. The funding round was led by Arborview Capital. An additional $1 million was committed and expected to close on or prior to May 1, 2022, bringing the Series A total to $7.2 million.</p>
<p>According to <a href="https://cms.mercomindia.com/research/" target="_blank" rel="noopener">Mercom Research</a>, Tandem PV secured $2.4 million in Seed funding to commercialize an exotic new solar technology.</p>


tandem-pv

Get the most relevant India solar and clean energy news.

RECENT POSTS