Saatvik Green Energy Acquires 80% Stake in Transformer Manufacturer

MERC Rejects Avaada’s ₹477 Million Change-in-Law Compensation Claim

CleanCapital Sells 120 MW Solar Project in Ohio

MERC Approves Tariffs for 8 MW Round-the-Clock Renewable Energy

EMERAM Acquires Stake in Home Energy Management Firm Solar Manager

Maharashtra Forms Panel to Review Electricity Duty on Rooftop Solar

Sterling and Wilson’s Revenue Drops 23% but Profit Surges in Q4 FY 2026

Adani Green Energy Operationalizes 292 MW Solar Project in Gujarat

EIE Renewables to Acquire 150 MWh Battery Storage Project in Bihar

MERC Approves 60 MW Wind-Solar PPA Withdrawal, Citing High Tariff


					<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/2025/06/amazon_polly_81137.mp3?version=1750828040">
			</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/project-finance-brief-nexwell-power-acquires-248-mw-solar-project-portfolio/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Nexwell Power, a Nexwell Group institutional-grade platform focused on accelerating the energy transition, </strong><a href="https://mercomcapital.com/nexwell-power-acquires-248-mw-solar-project-portfolio/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of a 248 MW solar project</strong> portfolio from Q ENERGY, a renewable energy company headquartered in Berlin and an affiliate of the Hanwha Group. The portfolio comprises seven solar projects located across the regions of Andalusia and Aragon in Spain. Currently, four of the solar projects are under construction and are expected to begin operation in early 2026.</p>
<p><strong>Dimension Energy, a community solar developer, owner, and operator, </strong><a href="https://mercomcapital.com/dimension-energy-closes-360-million-financing-for-solar-project-portfolio/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $360 million in construction and term financing to support the development of a portfolio</strong> of 28 community solar projects totaling 112 MWdc located in New Jersey, Illinois, Delaware, Virginia, Maine, and Pennsylvania. First Citizens Bank acted as lead debt syndicator alongside ING, MUFG, National Bank of Canada, Siemens, Cadence, and Comerica. Advantage Capital provided $170 million in tax equity.</p>
<p><strong>Peak Energy, an Asia-based renewable energy project developer, </strong><a href="https://mercomcapital.com/peak-energy-acquires-48-mw-solar-project-portfolio-in-japan/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the completion of the acquisition of a portfolio of ready-to-build high-voltage solar projects totaling 48 MW</strong> of capacity in Japan, located across various regions of the country, including Tokyo and Tohoku. The solar projects are expected to reach commercial operations progressively over 2026-2027. Once operational, the portfolio is expected to produce approximately 60 GWh of zero-carbon electricity annually.</p>
<p><strong>European Energy, a renewable energy project developer, </strong><a href="https://mercomcapital.com/european-energy-secures-over-80-million-financing-for-solar-projects/" target="_blank" rel="noopener"><strong>reached</strong></a><strong> financial closure of more than €70 million (~$80.72 million) to support the development and construction</strong> of two utility-scale solar projects in Australia. The financing will be used for the development of the 106 MW Lancaster solar project, currently under construction in Victoria, and the 31 MW Mulwala solar project, located in New South Wales. The construction of the Mulwala project is expected to begin in the third quarter of 2025.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">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 project finance <a href="https://mercomcapital.com/project-finance-brief-scatec-solar-storage-project-egypt/" target="_blank" rel="noopener">brief</a>.</p>


Project Finance Brief: Nexwell Power Acquires 248 MW Solar Project Portfolio


					<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/2024/07/amazon_polly_68414.mp3?version=1721902031">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><strong>Peak Energy, a sodium-ion battery manufacturer, </strong><a href="https://mercomcapital.com/peak-energy-secures-55-million-in-series-a-funding/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $55 million in a Series A funding round </strong>led by Xora Innovation, Temasek’s Early-Stage deep-tech investing platform. The company will use this funding to commercialize sodium-ion battery technology and launch a pilot program. This round also involved new investors, including Lachy Groom, Tishman Speyer, TechEnergy Ventures, Doral Energy-Tech Ventures, DETV-Scania Invest, and existing investor Eclipse and strategic partner TDK Ventures.</p>
<p><strong>The Asian Development Bank (ADB) has </strong><a href="https://www.mercomindia.com/adb-240-million-loan-rooftop-solar-india"><strong>approved</strong></a><strong> loans of $240.5 million to finance rooftop solar systems</strong> in India. The financing will be provided to the State Bank of India (SBI) and the National Bank for Agriculture and Rural Development (NABARD) to offer loans to developers and end-users for installing rooftop solar systems across India. This funding will support the second and third tranches of the Multi-tranche Financing Facility Solar Rooftop Investment Program, approved by ADB in 2016.</p>
<p><strong>NineDot Energy, a developer of community-scale clean energy projects, </strong><a href="https://mercomcapital.com/ninedot-energy-upsizes-revolving-credit-facility-to-50-million/"><strong>closed</strong></a><strong> an additional $25 million revolving credit debt facility</strong> provided by NY Green Bank, a New York State Energy Research and Development Authority division. The facility extends and increases the early-stage standalone storage financing completed by NY Green Bank last year to $50 million. The company has stated that it has secured over $400 million in total to acquire, develop, and operate battery storage sites across the New York City boroughs, Westchester County, and Long Island.</p>
<p><strong>itselectric, a provider of electric vehicle charging solutions, </strong><a href="https://mercomcapital.com/ev-charging-startup-itselectric-raises-6-5-million-in-seed-funding/"><strong>secured</strong></a><strong> $6.5 million in a seed funding round, bringing its funding total to $11.8 million</strong>. This round was led by Failup Ventures and Uber Technologies, with participation from Halogen Ventures, The Partnership Fund for NYC, Pulse Fund, Newlab, Gratitude Railroad, Tale VP, Equity Alliance Fund, LACI Impact Fund, and The Helm. The funds acquired will be used to deploy pilot EV chargers across several major U.S. cities in 2024, including Boston, Los Angeles, Detroit, Jersey City, and San Francisco.</p>
<p><strong>Electric vehicle (EV) ride-hailing startup MyPickup </strong><a href="https://www.mercomindia.com/ride-hailing-firm-mypickup-secures-%E2%82%B915-million-in-seed-funding"><strong>raised</strong></a><strong> ₹15 million (~$179,293) in seed funding led by Inflection Point Ventures (IPV).</strong> MyPickup plans to use the funds to increase its fleet size and efficiency per vehicle and develop an exclusive scheduling and route optimization algorithm, mobile application, brand building, and operations management optimization. The company operates a fleet of seven electric autorickshaws, serving 45 customers. It has been facilitating 800 rides per month and aims to penetrate large apartment complexes within a few micro markets in a city for office and school rides.</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/">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-naked-energy-raises-22-million/">roundup</a>.</p>


Funding and M&A Roundup: Peak Energy Secures $55 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/2023/10/amazon_polly_59411.mp3?version=1697012927">
			</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-mecaware-raises-42-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Mecaware, a battery recycling company, </strong><a href="https://mercomcapital.com/battery-recycling-company-mecaware-raises/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €40 million (~$42 million) in funding for the recycling of battery production scrap (Gigafactories Scrap – ScrapCO2MET project)</strong>. The project is expected to be operational in 2025. The project is expected to produce 50 tons of recycled metal annually, including lithium, nickel, cobalt, and manganese. The funding was raised from a pool of investors organized by Crédit Mutuel Innovation and the SPI2 fund managed on behalf of the State of France by Bpifrance as part of the France 2030 initiative.</p>
<p><strong>Amperon Holdings, a provider of energy analytics solutions, </strong><a href="https://mercomcapital.com/energy-analytics-platform-amperon-holdings-raises/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $20 Million in a Series B funding round</strong> led by Energize Capital. Other participants in this round include the D. E. Shaw group, Veriten, and existing investor HSBC Asset Management. The round helped bring the company’s total funding raised to date to $30 million. The company aims to use the funding to unlock more value from grid data and advance electricity forecasting innovation.</p>
<p><strong>Bolt.Earth, an India-based EV infrastructure and software company, has </strong><a href="https://www.mercomindia.com/bolt-earth-20-million-product-portfolio-expansion" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $20 million</strong> in a recent funding round led by a consortium of existing and new investors, including Union Square Ventures, Prime Venture Partners, and ITIGO Funds. The company offers an operating system, a connected platform technology that helps manufacturers develop, operate, and monitor their charging networks and vehicles.</p>
<p><strong>Peak Energy, a sodium-ion battery manufacturer, <a href="https://mercomcapital.com/sodium-ion-battery-manufacturer-peak-energy-secures-10-million/" target="_blank" rel="noopener">secures</a> $10 million in a funding round </strong>led by Eclipse, with significant participation from strategic partner TDK Ventures. The financing will help the company develop its sodium-ion battery solutions and lay the groundwork for building out manufacturing in the U.S. Beginning in 2025. Peak Energy will start deploying its sodium-ion systems while simultaneously building a domestic, giga-scale battery factory with plans to open in 2026.</p>
<p><strong>Australian battery recycling startup Renewable Metals </strong><a href="https://mercomcapital.com/battery-recycling-startup-renewable-metals-raises/"><strong>closed</strong></a><strong> an A$8 million (~$5 million) investment round</strong> to scale and commercialize its lithium-ion battery recycling technology. The funding was led by Asia Pacific-based venture capital firm Investible via its early-stage Climate Tech Fund, with additional participation from the U.S.-based venture capital investor, the Grantham Foundation for the Protection of the Environment, and CEFC. The investment round is expected to support Renewable Metals in developing a pilot plant in Perth, Australia.</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/">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-group14-secures-funding" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Battery Recycling Company Mecaware Raises $42 Million

peak-energy

Get the most relevant India solar and clean energy news.

RECENT POSTS