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					</table><p>Perovskite-based solar panel developer <a href="https://www.tandempv.com/" target="_blank" rel="noopener">Tandem PV</a> has opened a 40 MW commercial demonstration factory in Fremont, California, marking a step toward scaling up next-generation perovskite-silicon solar manufacturing in the U.S.</p>
<p>The 65,000-square-foot facility is designed to transition the company’s technology from laboratory-scale development to commercial production for utility-scale applications.</p>
<p>The Fremont facility produces tandem solar panels that integrate a thin perovskite layer with a conventional silicon solar cell to capture more energy across a broader portion of the solar spectrum.</p>
<p>The company reported internal testing results showing module efficiency of 29.7%. In accelerated lifetime testing, the latest generation of panels recorded an average annual power degradation of less than 1%, representing about a tenfold improvement over the previous year&#8217;s results.</p>
<p>According to the company, this design increases power output per unit area compared to traditional silicon panels, helping lower overall system costs. While module efficiency is critical, about 75% of utility-scale solar project costs are attributable to land, labor, and balance-of-system components, making higher-efficiency panels economically significant.</p>
<p>The production line uses advanced manufacturing equipment and produces panels approximately 60 times larger than those produced by the company’s earlier research and development devices.</p>
<p>Tandem PV had <a href="https://www.mercomindia.com/funding-and-ma-roundup-tandem-pv-raises-50-million" target="_blank" rel="noopener">raised</a> $50 million in Series A and debt funding, intended for the construction of a commercial-scale manufacturing facility and to accelerate the adoption of its solar panels.</p>
<p>Last November, researchers at the Massachusetts Institute of Technology <a href="https://www.mercomindia.com/researchers-develop-protective-polymer-coating-for-perovskite-cells" target="_blank" rel="noopener">reported</a> developing a lightweight, two-dimensional polyaramid polymer that can serve as a protective coating for solar cells, electronics, and infrastructure. This degree of impermeability positions the material as a potential barrier to slow degradation and corrosion in technologies such as perovskite solar cells.</p>
<p>In 2025, a study by the U.S. Department of Energy’s National Renewable Energy Laboratory <a href="https://www.mercomindia.com/nrel-claims-a-boost-in-perovskite-solar-cell-efficiency-using-ionic-salt" target="_blank" rel="noopener">reported</a> improved perovskite solar cell performance by replacing the commonly used fullerene (C60) electron transport layer with a newly synthesized ionic salt, referred to as CPMAC.</p>


Tandem PV Opens 40 MW US Factory to Scale Perovskite Solar Panels


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-tandem-pv-raises-50-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Tandem PV, a perovskite-based solar panel developer, has </strong><a href="https://mercomcapital.com/tandem-pv-raises-50-million/"><strong>secured</strong></a><strong> $50 million in Series A and debt funding</strong>, which it plans to use to construct a commercial-scale manufacturing facility in the U.S. and speed up the adoption of its solar panels. The funding was led by Eclipse, with participation from Constellation Energy, Planetary Technologies, Uncorrelated Ventures, Trellis Climate, Tom Werner, former CEO of SunPower, Stifel Bank, CSC Leasing, and other existing and new investors.</p>
<p><strong>Global investment group CDPQ has announced it will </strong><a href="https://www.mercomindia.com/investment-group-cdpq-to-acquire-innergex-renewable-energy-for-10-billion"><strong>acquire</strong></a><strong> all the issued and outstanding common shares of renewable power producer Innergex Renewable Energy for $13.75 per share in cash</strong>. The acquisition marks an approximately 58% increase over the closing price of common shares on the Toronto Stock Exchange. The acquisition was approved by Innergex’s common shareholders, fulfilling other customary closing conditions as well. The total transaction value is $10 billion.</p>
<p><strong>Lithium Americas, a mineral and mining company, has </strong><a href="https://mercomcapital.com/lithium-americas-announces-250-million-investment-from-orion/"><strong>announced</strong></a><strong> an investment of $250 million from fund entities managed by Orion Resource Partners (Orion)</strong>, an investment firm dedicated to metals and materials. The investment will be used to develop and construct Phase 1 of the Thacker Pass lithium project in Humboldt County, Nevada. Lithium Americas expects the strategic investment from Orion to enable it to make an affirmative final investment decision on the Thacker Pass joint venture for Phase 1.</p>
<p><strong>Wang &amp; Lee Group (WLG), a sustainable technology solutions provider specializing in energy storage systems and smart infrastructure, </strong><a href="https://mercomcapital.com/wang-lee-group-to-acquire-solar-energy-company-solarhk/"><strong>announced</strong></a><strong> its acquisition of SolarHK</strong>, a solar energy company, through an allotment of shares valued at approximately HK$15 million (~$1.9 million). The acquisition is expected to create synergies between WLG’s lithium-ion battery research, which was developed in collaboration with the City University of Hong Kong, and SolarHK’s solar technology and network.</p>
<p><strong>Omnidian, a performance assurance provider for renewable energy assets, </strong><a href="https://mercomcapital.com/omnidian-acquires-solar-service-guys/"><strong>announced</strong></a><strong> its acquisition of Solar Service Guys (SSG)</strong>, which provides system lifecycle service and support for residential and commercial solar investors. As per the terms of the agreement, SSG will be a fully integrated subsidiary of Omnidian, operating within Omnidian’s Australian arm.</p>
<p><strong>Independent power producer JSW Energy has </strong><a href="https://www.mercomindia.com/jsw-energy-12-billion-private-placement-debentures"><strong>raised</strong></a><strong> ₹12 billion (~$137.70 million) through private placement of Non-Convertible Debentures (NCDs).</strong> In a BSE filing, the company said its finance committee had approved the allotment of 120,000 unsecured, rated, listed, taxable, redeemable NCDs, each with a face value of ₹100,000 (~$1,147). The issuance has been structured into two tranches with distinct tenures and interest rates.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/">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 Funding and M&amp;A <a href="https://www.mercomindia.com/funding-and-ma-roundup-smartsolar-raises-seed-funding" target="_blank" rel="noopener">Roundup</a>.</p>


Funding and M&A Roundup: Tandem PV Raises $50 Million

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