India-based Inox Clean Energy has acquired Boviet Solar’s US solar PV manufacturing assets in a deal valued at about $750 million. This marks the company’s entry into the US solar PV manufacturing market. The acquisition includes both solar module and cell manufacturing assets, according to Inox, and gives it an immediate operating TOPCon module manufacturing capacity of 3 GW. It has also entered into a binding agreement to acquire 3 GW of TOPCon cell capacity, which is scheduled to come online by December 2026. Earlier, Boviet’s Chinese parent Ningbo Boway Alloy Material announced the sale of Boviet Solar’s solar module manufacturing facility to Inox Solar Americas, and said it was in talks to sell cell assets as well (see INOX Solar Americas Acquires Boviet Solar's US Module Assets).
Boviet Solar products will be eligible for incentives under Section 45X while also mitigating tariff- and policy-related uncertainties through a localized manufacturing footprint, added Inox. It said the move aligns with the ‘Make in America, For America’ strategy and represents one of the largest renewable energy asset purchases in the US by an Indian group. Inox Clean is targeting 11 GW of integrated solar manufacturing capacity and 10 GW of operating independent power producer (IPP) capacity by FY2028 across India and international markets, including the US and Africa. The company also expects the acquisition to support future earnings growth, with projected EBITDA of around INR 5,000 crore by FY2027 and INR 12,000 crore by FY2028.
CIM Group, the US-based real estate and infrastructure company, has launched a new national power platform focused on solar, battery storage, and transmission infrastructure in the country. The launch follows a long-term power purchase agreement (PPA) and a $400 million financing commitment from Blackrock-backed HPS Investment Partners to support the platform’s expansion. The new entity, Permanent Power Company, will combine CIM’s operating solar and battery assets, transmission infrastructure. and development-stage projects on a single platform to improve operational efficiency and support long-term growth.
Its current portfolio includes 652 MW of solar PV capacity, 360 MW (1,440 MWh) of battery energy storage systems (BESS), and 15 miles of transmission lines in California. Permanent Power also has 2 major projects – Grape and Daylight – that together add 550 MW of solar and 330 MW (1,320 MWh) of BESS capacity. Once completed, the platform’s portfolio is expected to reach around 1.2 GW of solar PV and 690 MW (2,760 MWh) of BESS capacity. The company recently signed a long-term PPA for the full output of the Grape project, covering 246 MW of solar PV and 150 MW (600 MWh) of battery storage.
Star Catcher Industries, Inc. has raised $65 million in an oversubscribed Series A funding round led by B Capital and co-led by Shield Capital and Cerberus Ventures. The latest funding brings the company’s total capital raised to $88 million. Founded less than 2 years ago, the startup is developing a space-based energy network that uses optical power beaming to deliver electricity to satellites and spacecraft in orbit.
The company said the new investment will support upcoming demonstration missions. Its 1st space-based optical power beaming demonstration is scheduled for later this year. Star Catcher said it has signed 7 PPAs, secured government contracts, and built a commercial pipeline projected to generate more than $3 billion in annual recurring revenue. Star Catcher also announced that retired US Space Force General John W. Raymond will join its board.
MN8 Energy, an IPP, has closed an upsizing and extension of its corporate credit facility, increasing the total value to $650 million from $350 million. It has also extended the maturity to Q3 2030. The facility includes up to $550 million in revolving borrowing capacity and $100 million for performance letters of credit to support development activities such as PPAs and interconnection deposits. It also contains a $300 million accordion feature that could allow additional borrowing capacity in the future.
The company said the proceeds will support general corporate purposes, including renewable energy and storage project development, as electricity demand in the US continues to grow due to data centers, manufacturing expansion, and electrification trends.
Renewable energy producer DESRI and global technology giant Meta have signed new PPAs totaling 850 MW in 2026. This covers projects located in Oklahoma, Texas, and Mississippi. The agreements include 500 MW in Oklahoma, 200 MW in Texas, and 150 MW in Mississippi.
With the latest deals, the 2 companies have now contracted around 2.57 GW of solar and battery storage projects across 9 US states. DESRI said about 1.11 GW of the contracted projects are expected to begin construction this year.
RWE has reached 1 GW of operating energy capacity in Illinois with the commissioning of its 273.6 MW Emily Solar Project in Clark and Cumberland Counties. The project adds to RWE’s Illinois portfolio, which now includes 2 solar and 3 wind energy facilities. Developed and owned by RWE and built by Blattner, Emily Solar created around 400 jobs during peak construction and is expected to generate about $30 million in property tax revenue over its lifetime.
The project will support local schools, roads, emergency services, and other public services. RWE said the project contributes to growing electricity demand in Illinois while providing renewable energy and local economic benefits.
US-based clean energy capital platform Crux has closed a $500 million debt financing facility with Nuveen Energy Infrastructure Credit. It will support tax-driven clean energy investments, including hybrid tax equity transactions. Crux said the facility will help it expand its role in the US clean energy financing market as electricity demand rises due to AI growth, electrification, and population expansion.
The company said the facility supports its growing pipeline of tax equity deals and broader capital deployment strategy. Crux stated that it has executed more than $1 billion in signed term sheets since launching its tax and preferred equity offering, with over $9 billion in indications of interest issued. It recently supported a $340 million tax equity investment tied to a 413 MW DC utility-scale solar project in Texas. According to Crux market data, hybrid tax equity structures now account for more than 75% of all tax equity investments in the sector.