Lendable Lends $10 Million to Metafin to Expand Solar in RURAL INDIA
Metafin, an India-based solar financing platform, has raised $10 million debt financing from UK-based investment firm Lendable through the latter’s Transportation and Energy Fund (LTEF). Metafin will use the proceeds to finance productive-use solar systems for rural micro, small, and medium enterprises (MSMEs). It will enable the company to strengthen its presence in existing markets and expand into other states like Rajasthan and Madhya Pradesh. They will expand their base from around 6,500 installations at present to between 15,000 and 16,000 over the next year, spread across more than 4,000 villages in 5 states, according to local media reports.
ReNew to Sell 100 MW Solar Project to Technique Solaire
ReNew Energy Global has agreed to sell its 117.5 MW DC/100 MW AC solar project in Tamil Nadu to Technique Solaire Group for an enterprise value of about $49 million. The definitive agreement was signed on March 23, 2026, between ReNew Solar Power Private Limited and JLT Energy 9, the India-focused investment arm of JLT Invest. The transaction is expected to generate around $24 million in cash inflow for ReNew, subject to closing adjustments. The project, commissioned in September 2019, operates under a 25-year power purchase agreement with Tamil Nadu Generation and Distribution Corporation Limited at a fixed tariff of INR 3.47/unit. ReNew says the project recorded a net plant load factor of 18.55% in FY2024-25. The deal is subject to customary closing conditions. The company currently has a gross clean energy portfolio of about 19.2 GW, including 1.5 GW of battery energy storage.
Solarium Green Energy Commissions 1 GW Solar Module Plant
Solarium Green Energy Limited has commissioned a 1 GW fully automated solar module manufacturing facility in Ahmedabad. The company invested around INR 90 crore in the plant, which will produce advanced G12 modules with capacities of up to 725 W using TOPCon, bifacial, and half-cut technologies. Solarium projects the facility to generate potential annual revenue of over INR 1,000 crore and will primarily serve EPC and B2B markets. The project strengthens its supply chain, shortens execution timelines, and supports backward integration, while lowering costs and improving margins. Solarium announced the factory in June 2025, along with another one for mounting structures production in Bavla, Gujarat. This marks its return to solar PV manufacturing (see Solarium Green Energy Returns To Solar Module Manufacturing).
Boost to Rooftop Solar in Delhi
The Indian capital, New Delhi, will provide INR 3,942 crore to the state Power Department to help it expand coverage of the Pradhan Mantri Surya Ghar Muft Bijli Yojana (PMSGMBY). The state’s Chief Minister, Rekha Gupta, announced this measure in her FY 2026-27 Budget speech. The department will also use the budget for underground electric cabling. The flagship rooftop solar scheme of the Indian government targets to expand the reach of solar to 1 crore households by FY 2026-27. Since its launch in February 2024, a total of 26,19,879 systems have been installed across the country as of March 19, 2026, according to the Ministry of New and Renewable Energy (MNRE). Gupta also said the government plans to install solar panels on top of drains to generate electricity and deter waste dumping into drains, as part of the Drainage Master Plan.
KP Group Crosses 1 GW Energized IPP Capacity Milestone
India-based renewable energy company KP Group has surpassed 1 GW of energized Independent Power Producer (IPP) capacity from a total portfolio of 2.3 GW. It says this marks a key milestone in its long-term growth strategy. The company said its energized capacity has grown nearly 18 times since FY21, when it stood at 58 MW, driven by strong project execution and accelerated capacity additions in FY26. Several projects were commissioned ahead of schedule. It now aims to reach 10 GW of total capacity by 2030 across its IPP and captive power producer (CPP) portfolios, supported by a strong project pipeline.
Accel1 Acquires Suncharge Smartgrids to Expand RE Portfolio
Global climate technology company Accel1 has acquired Suncharge Smartgrids India Pvt. Ltd. to strengthen its capabilities in renewable energy and smart power infrastructure. The deal also marks the launch of a new Renewable Energy & Smart Power Infrastructure vertical within the company, stated Accel1. The acquisition will expand its capabilities in distributed renewable energy systems, smart grids, and climate-resilient power networks. Suncharge’s expertise in smart energy platforms and renewable infrastructure will be integrated with Accel1’s climate technology solutions to support sustainable urban energy systems as part of the acquisition.
Sanathan Polycot Partners with Serentica for Captive Renewable Energy
Sanathan Polycot Private Limited (SPPL), a wholly-owned subsidiary of Sanathan Textiles Limited, will acquire at least a 26% stake in Serentica Renewables India 33 Private Limited to source renewable power as a captive consumer. SPPL has signed a share subscription and shareholders’ agreement and a power supply and consumption agreement for a contracted capacity of 32 MW. SPPL says this will help it secure long-term, cost-effective renewable power for its manufacturing operations. It also supports the company’s sustainability goals by reducing emissions intensity and optimizing long-term energy costs. Serentica Renewables India 33 Private Limited was incorporated by Serentica Renewables in June 2025 to develop ISTS-connected captive solar and wind power projects in India.
NTPC Green Energy Signs MoU with Nxtra Data
NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, has signed a memorandum of understanding (MoU) with Nxtra Data Limited to explore opportunities for developing renewable energy projects. The agreement, signed on March 24, 2026, in New Delhi, aims to supply round-the-clock (RTC) renewable energy to Nxtra’s data centers located across India for captive consumption. The MoU was signed by NGEL CEO Sarit Maheshwari and Nxtra CEO Ashish Arora.
Sunsure Energy Signs Solar PPA with JAKSON Engineering
Sunsure Energy, the commercial and industrial (C&I)-focused IPP, has signed a long-term power purchase agreement (PPA) with JAKSON Engineering Limited. It will supply 7.28 million units of solar power annually to the latter’s corporate office in Noida and manufacturing facility in Greater Noida. The 4.7 MW solar project is expected to meet about 80% of conventional energy demand at JAKSON’s corporate office and up to 40% at its manufacturing unit. JAKSON expects the shift to solar power to reduce nearly 5.2 million kg of CO2 emissions each year. Sunsure said the agreement also supports its ‘UP Shakti’ initiative aimed at accelerating renewable energy adoption and industrial decarbonization across Uttar Pradesh.