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					</table><p>Public sector banks (PSBs) <a href="https://www.mercomindia.com/public-sector-banks-approve-over-579000-loans-under-pm-surya-ghar" target="_blank" rel="noopener">approved</a> more than 579,000 loan applications worth ₹109.07 billion (~$1.23 billion) under the PM Surya Ghar: Muft Bijli Yojana, as of September 2025, according to the Ministry of Finance. The Ministry said that the Surya Ghar program streamlines credit delivery processes, facilitates collateral-free, affordable loans at lower interest rates, and simplifies financing through PSBs. The loans are processed through the JanSamarth Portal, which is integrated with the Surya Ghar program’s national portal.</p>
<p>Rooftop solar is steadily <a href="https://www.mercomindia.com/rajasthan-ci-units-switching-to-rooftop-solar-to-cut-power-bills" target="_blank" rel="noopener">transitioning</a> from an environmental choice to a financial necessity for India’s commercial and industrial (C&amp;I) sector, but system costs, technology, and regulatory policies shape the path to adoption. In solar-rich Rajasthan, conducive policies and growing awareness are helping businesses adopt rooftop solar. While the momentum is picking up, C&amp;I entities must equip themselves with knowledge of the relevant policies, the optimal capacity of the rooftop solar system, and system costs to maximize savings from making the switch. Electricity expenses can account for as high as 40% of an industrial unit’s operational cost.</p>
<p>Envision Energy India <a href="https://www.mercomindia.com/envision-to-supply-wind-turbine-generators-for-serenticas-560-mw-wind-project" target="_blank" rel="noopener">won</a> an order to supply wind turbine generators for Serentica Renewables‘ 560 MW wind project in India. The project will utilize Envision’s WTGs, each with a 5MW rated capacity. Envision Energy will supply the WTGs by February 2026. Akshay Hiranandani, CEO at Serentica Renewables, stated that the company’s upcoming wind projects in Karnataka, Maharashtra, and other states will help supply dependable renewable energy to industrial consumers. Serentica has completed 1 GW of renewable energy projects spanning wind, solar, energy storage, and advanced balancing solutions.</p>
<p>Solar inverter and energy storage systems manufacturer Sungrow Power Supply <a href="https://www.mercomindia.com/sungrow-seeks-to-raise-127-million-from-hong-kong-stock-exchange-listing" target="_blank" rel="noopener">filed</a> an application for listing on the main board of the Hong Kong Stock Exchange. The company plans to issue 338 million H-shares to raise approximately HK$987 million (~$126.83 million), with proceeds earmarked for solar and storage research and development (R&amp;D), overseas manufacturing, digital transformation, and core grid-scale storage technologies. The filing names China International Capital Corporation as the sole sponsor. H-shares are shares of Chinese mainland companies that are listed on the Hong Kong Stock Exchange or other foreign exchanges.</p>
<p>Haryana-based solar module manufacturer Saatvik Green Energy <a href="https://www.mercomindia.com/saatvik-green-records-272-yoy-revenue-growth-in-q1-fy-2026" target="_blank" rel="noopener">recorded</a> a revenue of ₹9.16 billion (~$103.20 million) in the first quarter of the financial year 2026, representing a 272.28% year-over-year (YoY) increase from ₹2.46 billion (~$27.72 million). The company’s earnings before interest, taxes, depreciation, and amortization stood at ₹1.81 billion (~$20.39 million), a 346.04% growth from ₹405.92 million (~$4.57 million) in the same quarter of the previous year. Saatvik’s quarterly net profit was ₹1.19 billion (~$13.41 million), up 459.30% YoY from ₹212.45 million (~$2.39 million).</p>
<p>Glance Finance <a href="https://www.mercomindia.com/glance-finance-to-acquire-62400-shares-in-kotsons-for-%E2%82%B93-17-million" target="_blank" rel="noopener">announced</a> an investment of ₹3.17 million (~$35,770.19) in Rajasthan-based power transformer solutions company, Kotsons (KPL), through the acquisition of 62,400 equity shares. Each share carries a face value of ₹10 (~$0.11) and has been acquired at a price of ₹50.85 (~$0.57)/share. Following this transaction, Glance Finance’s total shareholding in KPL will increase from 719,656 shares, representing 5.14% of KPL’s equity, to 782,056 shares, equivalent to 5.59%. The acquisition is being carried out through the secondary market and is expected to be completed by October 31, 2025. The timeline may be extended further by mutual agreement between the parties if required.</p>
<p>Crompton Greaves Consumer Electricals <a href="https://www.mercomindia.com/crompton-greaves-secures-rooftop-solar-order-worth-%E2%82%B9516-million" target="_blank" rel="noopener">secured</a> a supply order worth ₹515.9 million (~$5.8 million) for solar modules, inverters, and AC and DC distribution boxes for rooftop projects within Telangana. This is the company’s first supply order for the rooftop solar segment. Crompton said its entry into solar rooftops is part of its broader strategy to significantly expand its total addressable market from its current range of ₹750 billion (~$8.4 billion) to ₹1 trillion (~$11.26 billion), ultimately aiming to reach ₹2 trillion (~$22.5 billion).</p>
<p>Texas-based Base Power <a href="https://www.mercomindia.com/base-power-raises-1-billion-in-series-c-funding" target="_blank" rel="noopener">raised</a> $1 billion in Series C funding, led by Addition, to accelerate the deployment of its home battery storage solutions. Existing backers, such as Trust Ventures, Valor Equity Partners, Thrive Capital, Lightspeed, Andreessen Horowitz, Altimeter, StepStone, Elad Gil, 137 Ventures, Terrain, and Waybury, returned for the round. New investors include Ribbit, CapitalG, Spark, BOND, Lowercarbon, Avenir, Glade Brook, Positive Sum, and 1789. Base Power leases home batteries, charging an upfront installation fee of $695 for a single 25 kWh unit or $995 for two units totaling 50 kWh</p>
<p>Full-time equivalent employment in the European solar sector <a href="https://www.mercomindia.com/europes-solar-jobs-rise-5-yoy-to-865000-report" target="_blank" rel="noopener">grew</a> by 5% YoY to 865,000 in 2024 from 826,000, according to SolarPower Europe’s EU Solar Jobs Report 2025 report. The job growth outperformed a previous forecast of 4.2%. The report said the European Union’s job growth in the sector is mirroring market trends. The solar sector added 65.1 GW of new capacity, achieving a new high and marking the fourth consecutive year of record-setting installations. The pace of growth, however, reduced considerably compared to the additions in the previous three years, from between 31% and 51% to 3.3%.</p>
<p>Australia’s Department of Climate Change, Energy, Environment and Water <a href="https://www.mercomindia.com/australia-latest-renewables-plus-storage-auction" target="_blank" rel="noopener">announced</a> the results of the fourth auction under its Capacity Investment Scheme. A total of 20 projects were selected, delivering 6,640 MW of renewable energy, compared to the 6,000 MW originally planned. Twelve of these projects include battery storage along with the wind or solar capacity, amounting to 3,509 MW/11,444 MWh. The tender was floated in November last year. The projects represent over AU$17 billion (~$11.2 billion) in local content. They include more than AU$1.1 billion (~$723.1 million) in Australian steel, commit AU$291 million (~$191.3 million) in shared community benefits, and provide AU$348 million (~$228.8 million) in First Nations benefits.</p>


Daily News Wrap-Up: Banks Approve 579,000 Loans Under PM Surya Ghar

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