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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-eos-energy-secures-75-million/" target="_blank" rel="noopener"><span style="text-decoration: underline;">Mercom Capital Group</span></a></strong></p>
<p><strong>Eos Energy Enterprises, a zinc-based long-duration energy storage solutions provider, has </strong><a href="https://mercomcapital.com/eos-energy-secures-75-million-equity-investment-from-hudson-bay/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> a $75 million equity investment </strong>from Hudson Bay Capital Management to support its investment in Frontier Power USA (FPUSA), a vertically integrated long-duration energy storage developer and independent power producer. Hudson Bay also committed to invest $50 million directly into FPUSA, subject to certain conditions, Eos said.</p>
<p><strong>United Solar, a polysilicon manufacturer for the solar industry, has </strong><a href="https://mercomcapital.com/polysilicon-manufacturer-united-solar-closes-50-million-equity-investment/" target="_blank" rel="noopener"><strong>completed</strong></a><strong> the financial close of a previously announced $50 million equity investment </strong>from the International Finance Corporation (IFC), the private sector arm of the World Bank Group. The company said the transaction completes its $1.6 billion capital raise from a consortium of global investors. The financing supports United Solar’s polysilicon manufacturing facility in Oman’s Sohar Free Zone.</p>
<p><strong>Inox Clean Energy has announced that the Adar Poonawalla Family Office, through Rising Sun Holdings, has </strong><a href="https://www.mercomindia.com/adar-poonawalla-family-office-invests-%E2%82%B97-billion-in-inox-clean" target="_blank" rel="noopener"><strong>invested</strong></a><strong> ₹7 billion (~$73.5 million) </strong>into the renewable energy platform, valuing the firm at ₹700 billion (~$7.35 billion). The investment follows 10 strategic acquisitions completed by Inox Clean over the past 10 months, boosting its independent power producer, solar manufacturing, and related clean energy businesses.</p>
<p><strong>Nesa Power Group, a South Africa-based commercial and industrial renewable energy company, has </strong><a href="https://mercomcapital.com/nesa-power-secures-9-million-debt-funding-from-maia-capital-partners/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> R150 million (~$9 million) </strong>in mezzanine debt funding from Maia Capital Partners. Covington &amp; Burling acted as legal counsel to Maia Capital Partners on the transaction. Nesa develops integrated renewable energy solutions for commercial and industrial customers, including solar generation and battery storage under long-term power purchase agreements (PPAs).</p>
<p><strong>Royal Vopak, a company that owns and operates infrastructure for the storage and handling of liquids and gases, has </strong><a href="https://mercomcapital.com/royal-vopak-acquires-majority-stake-in-green-energy-storage/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> a 79% stake in Green Energy Storage (GES) </strong>and taken a final investment decision for a 200 MW/800 MWh battery energy storage project in Oosterhout, the Netherlands. Green Energy Storage is a Dutch developer, owner, and operator of utility-scale battery energy storage systems (BESS). The company manages the entire project lifecycle from site identification and permitting to financing, realization, and operational management.</p>
<p><strong>TCL Zhonghuan Renewable Energy Technology (TCL Zhonghuan), a Chinese solar wafer manufacturer, has </strong><a href="https://mercomcapital.com/solar-wafer-manufacturer-tcl-zhonghuan-acquires-das-solar/" target="_blank" rel="noopener"><strong>completed</strong></a><strong> its controlling acquisition of DAS Solar Technology (DAS Solar), </strong>a manufacturer of solar cells and modules. The transaction was completed through an equity purchase, capital increase, and the acceptance of entrusted voting rights. TCL Zhonghuan’s board approved the investment on March 30, 2026.</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-ma-roundup-terawatt-secures-300-million-debt-financing" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Eos Energy Secures $75 Million Equity Investment


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					</table><p><a href="https://www.unitedsolarholding.com/" target="_blank" rel="noopener">United Solar</a>, a polysilicon manufacturer for the solar industry, has completed the financial close of a previously announced $50 million equity investment from the International Finance Corporation (IFC), the private sector arm of the World Bank Group. The company said the transaction completes its $1.6 billion capital raise from a consortium of global investors.</p>
<p>The financing supports United Solar&#8217;s polysilicon manufacturing facility in Oman&#8217;s Sohar Free Zone. The company said the plant began operations in January of this year and is expected to reach an annual production capacity of 100,000 metric tons by the end of 2026. United Solar said the facility produces high-purity polysilicon, a key raw material used in the solar photovoltaic manufacturing supply chain.</p>
<p>According to the company, IFC arranged and mobilized more than 30% of the plant&#8217;s total capital raised. The financial close follows an anchor equity investment by the Oman Investment Authority through Future Fund Oman. United Solar said the IFC investment completes the plant’s capital structure.</p>
<p>The company also added that its production complies with Foreign Entity of Concern requirements. According to United Solar, the facility&#8217;s location in Oman and the Oman Investment Authority&#8217;s status as its largest shareholder provide customers with a traceable polysilicon supply intended to support supply chain diversification.</p>
<p>&#8220;The closing of IFC&#8217;s investment completes our approximately $1.6 billion capital raise and is a powerful endorsement of United Solar&#8217;s standards, governance, and long-term commercial strength,&#8221; said Binyam Giorgis, Group CFO of United Solar. &#8220;With the backing of the World Bank Group, and on the foundation laid by the Oman Investment Authority, we are delivering world-class, fully traceable polysilicon that tier-one manufacturers need — and doing so as an FEOC-compliant producer they can rely on as they build resilient, diversified supply chains.&#8221;</p>
<p>At full production capacity, the company expects the facility to produce enough polysilicon for approximately 40 GW of solar modules annually. The company also said the project is expected to create nearly 3,000 direct and indirect jobs and contribute to Oman&#8217;s economic diversification efforts.</p>
<p>Previously, in January 2026, the company’s wholly owned subsidiary, United Solar Polysilicon (FZC) SPC, secured $480 million in term debt financing from the IFC and partner banks.</p>
<p>Global VC funding for the solar sector in Q1 2026 came to $1.1 billion in 17 deals, a 21% decrease YoY compared to $1.4 billion raised in 14 deals in Q1 2025, according to Mercom’s Q1 2026 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/q1-2026-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>. Funding increased 74% QoQ compared to the $606 million raised in 20 deals in Q4 2025.</p>
<p>In 2026, HELIUP, a solar photovoltaic module manufacturer for the large rooftops of commercial and industrial buildings, <a href="https://mercomcapital.com/solar-module-manufacturer-heliup-raises-19-million-in-funding/" target="_blank" rel="noopener">closed</a> a €16 million (~$19 million) funding round.</p>


Polysilicon Manufacturer United Solar Closes $50 Million Equity Investment


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					</table><p><a href="https://waaree.com/" target="_blank" rel="noopener">Waaree Energies</a>’ subsidiary, Waaree Solar Americas, will buy 53,68,551 Series B shares of polysilicon manufacturer United Solar Holding for $30 million.</p>
<p>The proposed investment, for which the two companies signed a binding term sheet, will help strengthen Waaree’s long-term, secure, and fully traceable polysilicon supply chain to support its expanding U.S. and global manufacturing footprint.</p>
<p>United Solar, a Cayman Islands-based company, produces high-purity polysilicon, a vital component for the solar industry, and operates an advanced manufacturing facility in Oman.</p>
<p>The acquisition of shares by Waaree will be completed by January 31, 2026, or at any later date mutually agreed upon by the two companies.</p>
<p>In September, a U.S. court <a href="https://www.mercomindia.com/meyer-burger-to-sell-module-machinery-to-waaree-amid-bankruptcy" target="_blank" rel="noopener">approved</a> the sale of Meyer Burger’s machinery and equipment for the production of solar modules to Waaree Solar Americas.</p>
<p>Earlier this year, Waaree Solar Americas <a href="https://www.mercomindia.com/waaree-to-double-texas-solar-module-manufacturing-plant-capacity-to-3-2-gw" target="_blank" rel="noopener">announced</a> that its solar manufacturing facility in Brookshire, Texas, was being expanded from 1.6 GW to 3.2 GW.</p>
<p>The company has won several module orders from U.S. clients this year. It recently <a href="https://www.mercomindia.com/waaree-wins-288-mw-solar-module-supply-order-in-the-us" target="_blank" rel="noopener">won</a> an order for the supply of 288 MW of solar modules from Sabancı Renewables, a developer and owner-operator of utility-scale renewable energy projects in Texas. This contract will be the first deployment of Waaree’s 620 Wp bifacial solar modules.</p>
<p>In June this year, Waaree <a href="https://www.mercomindia.com/waaree-solar-secures-540-mw-solar-module-order-from-us-developer" target="_blank" rel="noopener">secured</a> an order for the supply of 540 MW of solar modules from a developer of utility-scale solar and energy storage projects. In the same month, it bagged another contract to supply 599 MW of solar modules.</p>
<p>In September, Waaree Solar Americas <a href="https://www.mercomindia.com/waaree-cooperate-in-us-customs-probe-alleged-tariff-evasion" target="_blank" rel="noopener">informed</a> stock exchanges in India that it would cooperate with U.S. authorities, who have launched an investigation into alleged duty evasion on imports into the country.</p>
<p>U.S. Customs and Border Protection had initiated a probe into alleged tariff evasion by Waaree Solar Americas involving Chinese-made solar cells and modules, which were labeled as made in India. It said that there was reasonable suspicion that Waaree had failed to label some of the components as subject to antidumping and countervailing duties that the country has been imposing on solar cells and modules made in China.</p>


Waaree to Buy Stake in Polysilicon Manufacturer United Solar for $30 Million

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