Fidra Energy Acquires 1 GW Battery Storage Project in the UK

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Punjab Regulator Approves Tariff for Procurement of 4 MW Solar Power

Uttarakhand Retains Generic Tariff for Solar Projects for FY 2027

Uttarakhand Proposes Ancillary Services Framework to Strengthen Grid

Karnataka Proposes New Regulations for Distributed Solar Projects

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APTEL Sets Aside MERC Tariff Approval for 4 GWh Battery Storage Tender

Bengaluru Apartment Cuts Power Bills by 80% With 150 kW Rooftop Solar Project


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					</table><p><a href="https://t1energy.com/" target="_blank" rel="noopener">T1 Energy</a>, a solar and battery manufacturing company, has entered into a definitive agreement to acquire <a href="https://korepower.com/" target="_blank" rel="noopener">KORE Power</a>, a battery energy storage systems manufacturer, for approximately $32 million.</p>
<p>The purchase enterprise value consists of equity, cash, and the assumption of debt at the anticipated closing in the second quarter of 2026, subject to customary conditions, including approval by KORE Power shareholders.</p>
<p>The company said the acquisition is expected to provide an entry point into the energy storage and artificial intelligence data center infrastructure markets. T1 expects the transaction to expand its potential customer base for solar and storage solutions.</p>
<p>KORE Power’s NRI division is the strategic centerpiece of the acquisition, which is focused on designing, delivering, installing, and operating utility-scale energy storage solutions. T1 said the NRI team has deployed about 1,100 battery storage projects worldwide and has provided solutions to the U.S. government, national laboratories, utilities, developers, and other industrial customers.</p>
<p>NRI performs all software and controls development in the U.S. T1 plans to rebrand KORE Power as T1 NRI after the expected closing of the transaction.</p>
<p>“The combination with T1 Energy is expected to provide customers with a one-stop solution for generation, storage, system design, and ongoing operations,” said Jay Bellows, President and CEO of KORE Power. “We’re thrilled to be joining T1, which shares our commitment to building a secure, domestic energy supply chain.”</p>
<p>The company expects the transaction to generate positive EBITDA in 2026. The company expects the acquisition to contribute approximately $15 million to $20 million of EBITDA in 2027.</p>
<p>In addition to the $32 million purchase enterprise value, the transaction includes a potential $9.6 million equity-based earn-out for fiscal years 2026 and 2027.</p>
<p>In 2025, T1 announced the <a href="https://mercomcapital.com/t1-energy-acquires-minority-stake-in-talon-pv/" target="_blank" rel="noopener">acquisition</a> of a minority stake in Talon PV, a solar cell manufacturer. The investment was made through a Simple Agreement for Future Equity (SAFE), with both companies continuing to discuss the potential expansion of their strategic partnership.</p>
<p>According to Mercom’s recently released 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>, Corporate M&amp;A activity in the solar sector was 47% higher YoY in the first quarter of 2026, with 28 corporate M&amp;A transactions compared to 19 in Q1 2025.</p>


T1 Energy to Acquire KORE Power in $32 Million Battery Storage Deal


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					</table><p><a href="https://nextpower.com/" target="_blank" rel="noopener">Nextpower</a>, an integrated provider of utility-scale solar infrastructure solutions offering trackers, electrical balance-of-system solutions, software, and robotics, has entered into a definitive agreement to acquire <a href="https://prevalonenergy.com/" target="_blank" rel="noopener">Prevalon Energy</a>, a U.S.-headquartered joint venture between Mitsubishi Power Americas and EES, for total consideration of up to $365 million, excluding cash to be acquired.</p>
<p>The transaction includes cash and stock and is subject to customary closing conditions, including antitrust regulatory review. It is expected to close in the second quarter of fiscal year 2027.</p>
<p>Nextpower said the acquisition is expected to expand its technology platform across battery energy storage systems and intelligent controls for critical power infrastructure. The company projected that global demand for battery energy storage systems outside China could represent an opportunity of up to $35 billion by 2030, with the U.S. accounting for up to $15 billion.</p>
<p>Prevalon’s battery storage technology supports applications that require power quality, rapid response, and deployment speed, including AI data centers, private grids, grid-connected storage, and industrial power systems. Its Hybrid Power Stabilizer is designed to manage rapid load changes and support grid stability.<br />
“Both companies are technology-focused and understand power, utilities, and complex use cases for customers. Prevalon’s BESS hardware and software platform solves challenging problems for utility-connected and self-powered AI data centers, including inertia support, grid stabilization, contingency management, and GPU AI workload smoothing. This is a differentiated, competitive advantage that Nextpower’s customers will value,” said Markus Wilhelm, founder and CEO of Strata Energy.</p>
<p>In May 2026, Nextpower entered into a definitive agreement to <a href="https://mercomcapital.com/nextpower-to-acquire-zigors-power-conversion-assets-and-apex-power/" target="_blank" rel="noopener">acquire</a> complementary assets of Zigor Corporation’s power-conversion business and its U.S.-based subsidiary, Apex Power. It is expected to expand Nextpower’s product portfolio and capabilities in utility-scale solar power conversion and would also support its entry into the battery energy storage and data center markets.</p>
<p>Nextpower also raised its fiscal year 2027 outlook, expecting revenue to be approximately $4 billion to $4.4 billion, compared with its previous outlook of $3.8 billion to $4.1 billion.</p>
<p>According to Mercom’s recently <a href="https://mercomcapital.com/product/q1-2026-solar-funding-ma-report/" target="_blank" rel="noopener">released</a> Q1 2026 Solar Funding and M&amp;A report, Corporate M&amp;A activity in the solar sector was 47% higher YoY in the first quarter of 2026, with 28 corporate M&amp;A transactions compared to 19 in Q1 2025.</p>


Nextpower to Acquire Prevalon Energy for Up to $365 Million


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					</table><p><a href="https://marsenergygroup.com/" target="_blank" rel="noopener">MARS Energy Group</a> has acquired California-based <a href="https://www.solarsavingsdirect.com/" target="_blank" rel="noopener">Solar Savings Direct</a>, doing business as Solar and Roof Direct, and <a href="https://www.trustsequoia.com/" target="_blank" rel="noopener">Sequoia Roofing &amp; Construction</a>.</p>
<p>The company did not disclose the transaction value or the financial terms of the acquisitions.</p>
<p>MARS is a national energy infrastructure company providing integrated solar, storage, roofing, and electrification solutions for residential and commercial customers and developers. The two acquired companies serve California homeowners and production homebuilders across roofing, solar, and battery storage projects.</p>
<p>Solar Savings Direct and Sequoia Roofing &amp; Construction, collectively referred to as SSD and SRC, provide roofing and solar services in California. MARS said the acquisitions will help to offer a more coordinated service model across both new construction and retrofit markets, including reroofing and residential solar installations.</p>
<p>Kyle Baker, CRO of SSD, added, &#8220;California requires partners who can execute consistently across individual homeowner projects. The retrofit market is crowded, and many companies have struggled to scale in this environment while SSD &amp; SRC have been able to maintain quality and reliability. With MARS, we are even better equipped to expand our retrofit capabilities and meet rising demand with the infrastructure, resources, and operational support needed to scale efficiently.&#8221;</p>
<p>SSD and SRC will continue to operate under their existing leadership during the transition. Jeremy Read, Jessica Gluck, Kyle Baker, Gabriel Munoz, and Robert Williams will remain in key roles, according to the company. The businesses will retain their current branding in the near term. MARS said the brands are expected to transition to MARS Home Solutions in the future.</p>
<p>The company said the acquisitions support its focus on execution, safety, and long-term value creation in California’s residential energy and housing markets.</p>
<p>It also noted that the acquisitions deepen its California footprint and expand its presence in Northern California, in addition to its existing Southern California market presence.</p>
<p>The acquisitions also mark the company’s ninth and tenth acquisitions to date.</p>
<p>According to Mercom’s recently released 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>, Corporate M&amp;A activity in the solar sector was 47% higher YoY in the first quarter of 2026, with 28 corporate M&amp;A transactions compared to 19 in Q1 2025.</p>
<p>In April 2026, Mortenson, a provider of energy and infrastructure solutions, <a href="https://mercomcapital.com/mortenson-acquires-energy-management-controls-firm-nor-cal-controls/" target="_blank" rel="noopener">announced</a> the acquisition of Nor-Cal Controls, a controls systems provider specializing in energy management control systems for solar, battery energy storage, and microgrid applications.</p>


MARS Energy Acquires Two California Roofing and Solar Service Providers


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					</table><p><a href="https://ir.pnrenewables.com/" target="_blank" rel="noopener">Skycorp Solar Group</a>, a manufacturer of solar cables and solar connectors, signed a share acquisition agreement to acquire the remaining 56% equity interest in <a href="https://www.cesunpower.com/" target="_blank" rel="noopener">Nanjing Cesun Power</a>, a provider of turnkey solar project services.</p>
<p>Before the acquisition, the company held a 44% equity interest in Nanjing Cesun through its wholly owned subsidiary, PN Sunshine. After the transaction closes, Skycorp will hold and consolidate 100% of Nanjing Cesun.</p>
<p>Under the agreement, the aggregate consideration for the 56% stake is $20.19 million. The company will make the payment by issuing 7.98 million newly issued Skycorp ordinary shares, consisting of Class A and Class B shares. The issuance price was set at $2.529 per share, based on the arithmetic average of Skycorp’s daily closing prices on the Nasdaq Capital Market over the 10 trading days from April 17 to April 30, 2026.</p>
<p>The company said the transaction implies a 100% enterprise valuation of $36.06 million for Nanjing Cesun, supported by an independent valuation report prepared by an independent third-party valuation firm.</p>
<p>The sellers are Huang Weiqi and EZPower Limited. Huang directly holds a 20% stake in Nanjing Cesun and serves as Skycorp’s chief executive officer and director. EZPower Limited, a British Virgin Islands entity, holds the remaining 36% stake. The transaction remains subject to customary closing conditions.</p>
<p>Separately, Skycorp entered into securities purchase agreements with three unaffiliated institutional investors to raise $3 million in a private placement. The company will issue 1,694,000 Class A ordinary shares at $1.7703 per share. The company plans to use the net proceeds for general corporate purposes, including working capital, business development, and potential strategic transactions.</p>
<p>Skycorp said the purchase price represents a 30% discount to the 10-trading-day arithmetic average closing price of $2.529 per share from April 17 to April 30, 2026.</p>
<p>Hoping Group Limited subscribed for 593,000 Class A ordinary shares for $1.05 million. Matrix Sea Limited subscribed for 592,000 shares for $1.05 million. Hoping AI Machine Pte Ltd subscribed for 509,000 shares for $901,500.</p>
<p>According to Mercom’s recently released 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>, M&amp;A activity was 47% higher YoY in the first quarter of 2026, with 28 corporate M&amp;A transactions compared to 19 in Q1 2025.</p>
<p>In 2025, Nextracker, a solar tracker and software solutions provider, <a href="https://mercomcapital.com/solar-solution-provider-nextracker-acquires-bentek-corporation-78-million/" target="_blank" rel="noopener">announced</a> the acquisition of Bentek Corporation, a provider of electrical balance-of-system solutions.</p>


Skycorp Solar to Acquire Remaining 56% Stake in Nanjing Cesun Power


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					</table><p><a href="https://eurowindenergy.com/" target="_blank" rel="noopener">Eurowind Energy</a>, a Denmark-based renewable energy project developer, has entered into a definitive agreement with <a href="https://www.blackstone.com/" target="_blank" rel="noopener">Blackstone Infrastructure</a> for an investment of up to €2 billion ($2.34 billion).</p>
<p>The investment will give Blackstone an initial 24.7% ownership stake in Eurowind Energy. Blackstone will become a co-owner, while Eurowind Energy’s founders, including Chief Executive Officer Jens Rasmussen, Søren Rasmussen, and Jakob Kortbæk, along with energy and telecommunications group Norlys, will retain majority ownership.</p>
<p>Eurowind Energy develops, constructs, and operates renewable energy projects, including onshore wind, solar, battery storage, and biogas facilities. The company operates across 16 European countries and has a total installed capacity of approximately 1.6 GW.</p>
<p>The capital from Blackstone is intended to support Eurowind Energy’s development pipeline as electricity demand in Europe increases. The company cited electrification, artificial intelligence-driven demand, reindustrialization, and energy security needs as drivers of expected annual power demand growth of more than 3% through 2040.</p>
<p>Adam Kuhnley, Co-Head of European Investments, Blackstone Infrastructure, said: “Significant capital will be required to meet European energy demand in the coming years, and Blackstone is well-positioned to support and accelerate Europe’s energy infrastructure build-out. Over the past two decades, Jens Rasmussen and the management team have built an outstanding, vertically integrated renewables platform, and we are excited to partner with them and Norlys to accelerate Eurowind’s long-term clean energy deployment across Europe.”</p>
<p>Barclays, Nomura Greentech, and Santander were Blackstone’s mergers and acquisitions advisors for the transaction. Latham &amp; Watkins and HortenDahl served as its legal advisors, while Kromann Reumert acted as legal advisors to Eurowind Energy.</p>
<p>The transaction is expected to close before the end of the year, subject to customary conditions.</p>
<p>According to Mercom’s Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, M&amp;A activity was 17% higher YoY in 2025, with 96 corporate M&amp;A transactions compared to 82 in 2024.</p>
<p>In April 2026, U.S.-based Headwater Energy, a utility-scale solar and energy storage development firm, completed the <a href="https://mercomcapital.com/headwater-energy-acquires-solar-storage-developer-arena-renewables/" target="_blank" rel="noopener">acquisition</a> of Arena Renewables, a distributed generation solar and battery energy storage system developer.</p>


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