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

Scale Energy, a Berlin-based industrial battery storage systems developer, <a href="https://cms.mercomindia.com/scale-energy-raises-2-million-in-seed-funding/" target="_blank" rel="noopener">secured</a> €2 million (~$2.1 million) in an oversubscribed seed funding round led by Climentum Capital, an early-stage climate tech investor, with participation from Vireo Ventures and existing shareholders Antler and P3A. The funding is expected to help Scale Energy increase its operational footprint across Germany. It aims to roll out 10 GW of decentralized storage projects over the next decade, stating that any organization with a grid connection exceeding 1,000 kW can use its services.
UbiQD, a developer and manufacturer of quantum dot technology for solar energy solutions, has <a href="https://cms.mercomindia.com/ubiqd-acquires-bluedot-photonics/" target="_blank" rel="noopener">announced</a> the acquisition of all BlueDot Photonics’ assets, including its perovskite-based quantum cutting technology. The deal gives UbiQD exclusive rights to BlueDot’s associated intellectual property, originally developed at (and licensed from) the University of Washington. UbiQD’s acquisition marks a step in its expansion into the solar sector, with BlueDot’s business unit focused specifically on developing down-conversion products for the industry.
Rooftop solar financing company Credit Fair <a href="https://www.mercomindia.com/credit-fair-secures-5-million-from-symbiotics-for-rooftop-solar-financing" target="_blank" rel="noopener">raised</a> $5 million (₹415 million) from the $75 million (₹6.22 billion) ‘Green Basket Bond’ issued by Symbiotics Investments. Credit Fair intends to use the funds to finance 2,500 rooftop solar projects, targeting residential customers, micro, small, and medium enterprises, and housing societies in tier-2 and tier-3 cities. It also aims to utilize the funds to provide financing options to underserved communities and make renewable energy accessible.
Solar energy consultancy and engineering, procurement, and construction (EPC) solutions provider Gensol Engineering has <a href="https://www.mercomindia.com/gensol-engineering-signs-%E2%82%B93-5-billion-deal-to-sell-scorpius-trackers" target="_blank" rel="noopener">signed</a> a ₹3.5 billion (~$40.1 million) non-binding term sheet to sell its U.S. subsidiary, Scorpius Trackers, to an undisclosed renewable energy solution provider. Gensol aims to unlock the subsidiary’s capital for reinvestment into its core growth assets and strengthen its financial position.
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>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-ma-roundup-accure-battery-intelligence-secures-16-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Scale Energy Raises $2 Million in Seed Funding

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-scale-energy-raises-2-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Scale Energy, a Berlin-based industrial battery storage systems developer, <a href="https://mercomcapital.com/scale-energy-raises-2-million-in-seed-funding/" target="_blank" rel="noopener">secured</a> €2 million (~$2.1 million) in an oversubscribed seed funding round led by Climentum Capital, an early-stage climate tech investor, with participation from Vireo Ventures and existing shareholders Antler and P3A. The funding is expected to help Scale Energy increase its operational footprint across Germany. It aims to roll out 10 GW of decentralized storage projects over the next decade, stating that any organization with a grid connection exceeding 1,000 kW can use its services.
UbiQD, a developer and manufacturer of quantum dot technology for solar energy solutions, has <a href="https://mercomcapital.com/ubiqd-acquires-bluedot-photonics/" target="_blank" rel="noopener">announced</a> the acquisition of all BlueDot Photonics’ assets, including its perovskite-based quantum cutting technology. The deal gives UbiQD exclusive rights to BlueDot’s associated intellectual property, originally developed at (and licensed from) the University of Washington. UbiQD’s acquisition marks a step in its expansion into the solar sector, with BlueDot’s business unit focused specifically on developing down-conversion products for the industry.
Rooftop solar financing company Credit Fair <a href="https://www.mercomindia.com/credit-fair-secures-5-million-from-symbiotics-for-rooftop-solar-financing" target="_blank" rel="noopener">raised</a> $5 million (₹415 million) from the $75 million (₹6.22 billion) ‘Green Basket Bond’ issued by Symbiotics Investments. Credit Fair intends to use the funds to finance 2,500 rooftop solar projects, targeting residential customers, micro, small, and medium enterprises, and housing societies in tier-2 and tier-3 cities. It also aims to utilize the funds to provide financing options to underserved communities and make renewable energy accessible.
Solar energy consultancy and engineering, procurement, and construction (EPC) solutions provider Gensol Engineering has <a href="https://www.mercomindia.com/gensol-engineering-signs-%E2%82%B93-5-billion-deal-to-sell-scorpius-trackers" target="_blank" rel="noopener">signed</a> a ₹3.5 billion (~$40.1 million) non-binding term sheet to sell its U.S. subsidiary, Scorpius Trackers, to an undisclosed renewable energy solution provider. Gensol aims to unlock the subsidiary’s capital for reinvestment into its core growth assets and strengthen its financial position.
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-accure-battery-intelligence-16-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4365546-1&amp;h=4264072354&amp;u=https%3A%2F%2Fwww.ubiqd.com%2F&amp;a=UbiQD%2C+Inc." target="_blank" rel="noopener">UbiQD</a>, a developer and manufacturer of quantum dot technology for solar energy solutions, has announced the acquisition of all assets of <a href="https://www.bluedotphotonics.com/" target="_blank" rel="noopener">BlueDot Photonics</a>, including its perovskite-based quantum cutting technology.
The deal gives UbiQD exclusive rights to BlueDot&#8217;s associated intellectual property, originally developed at (and licensed from) the University of Washington.
BlueDot has developed quantum-cutting technology to create cost-effective solutions that enhance solar panel performance. The company claims that its solutions can boost panel efficiency by as much as 16%.
&#8220;Solar power remains the backbone of the renewable energy transition, but the industry still faces efficiency and cost constraints. BlueDot pioneered a transformative approach with quantum cutting—essentially multiplying usable photons to enhance energy capture. By bringing their technology into our portfolio, we&#8217;re positioned to accelerate next-generation solar materials and drive meaningful efficiency gains at scale,&#8221; said Hunter McDaniel, Founder and CEO of UbiQD.
UbiQD&#8217;s acquisition of BlueDot marks a step in its expansion into the solar sector, which has a business unit focused specifically on developing down-conversion products for the industry. In 2023, the company <a href="https://www.prnewswire.com/news-releases/ubiqd-expands-collaboration-with-first-solar-on-quantum-dot-enhanced-solar-modules-301900570.html" target="_blank" rel="noopener">expanded</a> its partnership with First Solar to explore incorporating fluorescent quantum dot technology in advanced solar modules.
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>, M&amp;A activity was 15% lower year-over-year in 2024, with 82 corporate M&amp;A transactions compared to 96 in 2023.
In December, enercity, a German energy supplier, <a href="https://cms.mercomindia.com/enercity-acquires-hanwha-q-cells-solar-portfolio-and-other-assets/" target="_blank" rel="noopener">acquired</a> the key business areas along with a solar portfolio from Hanwha Q CELLS, a manufacturer of solar cells, modules, and energy storage systems.

UbiQD Acquires BlueDot Photonics

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					</table><a href="https://ubiqd.com/" target="_blank" rel="noopener">UbiQD</a>, a nanotechnology company based in New Mexico, has joined hands with solar module manufacturer <a href="https://www.firstsolar.com/en-IN/" target="_blank" rel="noopener">First Solar</a> to integrate fluorescent quantum dot (QD) technology into advanced solar modules.
QDs are minuscule semiconductor nanoparticles known for their photoluminescence efficiency across a broad spectrum of tuneable colors, making them a valuable tool for optimizing light spectra. These quantum dots are so small that about 100,000 of them could fit across a single fingernail.
UbiQD has already introduced a range of greenhouse products under its UbiGro brand, effectively adjusting sunlight&#8217;s spectrum to bolster crop growth. Now, the company is harnessing these materials for potential applications in large-scale solar projects, aiming to enhance the efficiency of existing photovoltaic technologies substantially.
UbiQD specializes in copper, indium, and sulfide QDs, which emit bright and brilliant light, demonstrating their efficiency in converting absorbed light to emitted light. The company claims to achieve this through precision process control and protective shells, ensuring near-unity quantum yields and stability across demanding exterior applications from visible light to the near-infrared spectrum.
UbiQD maintains that QDs are made from copper, zinc, and sulfur, eliminating regulated metals like cadmium and lead or toxins like phosphines. UbiQD holds the exclusive license to these innovative dots from MIT and Los Alamos National Lab.
UbiQD stated it employs a patented method grounded in elegant thermodynamics,  ensuring its quantum dots remain affordable while maintaining high efficiency.
&#8220;With First Solar&#8217;s domain expertise and leadership position in multi-gigawatt-scale solar, we are excited to be working together on the potential to enhance panel efficiency using quantum dot technology,&#8221; said Hunter McDaniel, UbiQD CEO. &#8220;If successful, this application in solar modules will be a perfect example of the broad applicability of our core technology. With emerging applications in food and energy, these novel nanomaterials are proving to be a key tool in humanity&#8217;s urgent response to climate change and further sustainable economic development.&#8221;
In June, First Solar <a href="https://www.mercomindia.com/first-solar-for-a-new-manufacturing-facility-in-the-us" target="_blank" rel="noopener">announced</a> its plans to construct a fifth manufacturing facility in the United States, with an investment of up to $1.1 billion. The move comes as the company aims to bolster America&#8217;s capacity to produce photovoltaic solar modules.
In a recent interview with Mercom India, Sujoy Ghosh, Vice President &amp; Country Managing Director India at First Solar, <a href="https://www.mercomindia.com/first-solars-easily-process-bodes-well-for-pli-interview" target="_blank" rel="noopener">said</a> the company’s 3.3 GW integrated thin film module manufacturing facility in Tamil Nadu is expected to start commercial production in October this year.

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