India is considering a financial support scheme to encourage agrivoltaics to encourage dual use of land for solar power generation and farming. The Ministry of New and Renewable Energy (MNRE) sees the potential to add around 5 GW of agrivoltaic capacity over the next three to four years.

MNRE Secretary Santosh Kumar Sarangi recently said that the government was working on a scheme to address the higher costs of agrivoltaic projects and incentivize stated to encourage their adoption. India’s technical agrivoltaics potential currently stands at between 1 TW to 2 TW (see TERI: India’s Agrivoltaic Potential May Reach 2.1 TW).

Under agrivoltaics, solar panels are installed on elevated structures, allowing crops to grow and farming activities to continue beneath them. The approach could help India expand solar power generation while reducing competition between renewable energy projects and agricultural land. Sarangi stressed that this approach could expand solar deployment beyond the top 5 states that currently account for 85% of deployment, to even those with less non-agricultural land.

Sarangi believes that agrivoltaic projects cost around 25% to 30% more than conventional ground-mounted solar installations because of the additional infrastructure needed to elevate the panels. The proposed scheme aims to address this cost difference and make projects more commercially viable. 

The projected addition of 5 GW would nevertheless depend partly on state governments introducing suitable feed-in tariffs (FIT), which determine the price paid for electricity generated by these projects.

As per the ministry’s estimates, the cost of power from agrivoltaics plants could range between INR 3.20 to INR 3.30 per kWh, compared with INR 2.80 to INR 3 per kWh for decentralized solar installations under PM-KUSUM.

The ministry is considering whether to include the support under the existing PM-KUSUM scheme or introduce a separate program. It is working with the Ministry of Finance to determine its structure. It is also working on a policy document to guide the development of agrivoltaics and engaging with electricity distribution companies to facilitate power purchases, according to the MNRE Secretary.

Speaking with the media ahead of the Agrivoltaics World Conference 2026 to be held in New Delhi, Sarangi shared that trials conducted with the Indian Agricultural Research Institute (IARI) have helped identify crops suited to agrivoltaic installations across different agro-climatic zones.

While fruits and leafy vegetables had shown encouraging results, the arrangement doesn’t seem to work as well for rice and sugarcane. He identified Madhya Pradesh, Odisha, Chhattisgarh, West Bengal and Uttar Pradesh as states with potential for deployment.

Earlier this year, India approved a new floating PV scheme to target 5 GW capacity, combined with 2-hour energy storage systems (see India Launches 5 GW Floating Solar Scheme With Storage).  

Infinity Power and HAU Energy B.V. have secured $265 million in financing from the European Bank for Reconstruction and Development (EBRD) for a 1.2 GW solar project in Egypt. The project is expected to become the ‘largest’ solar power plant in Egypt and Africa.

The solar power plant project will be accompanied by a 600 MWh battery energy storage system (BESS) to store electricity during the day to help meet peak demand after sunset. It has a Golden License from the Egyptian government to help fast-track the investment (see Egypt Approves 1 GW Solar PV & 600 MWh BESS Project).

The project is also co-financed by German development finance institution DEG, Dutch Entrepreneurial Development Bank (FMO), and France’s Proparco.

HAU Energy is co-owned by Hassan Allam Utilities, Meridiam and the EBRD. Infinity Power, a joint venture between Infinity and Masdar, says this project is part of its target to achieve 10 GW of operational renewable energy capacity by 2032.

“As the largest solar PV project in Egypt and Africa, paired with one of the country’s first utility-scale battery energy storage systems, Nefer Menya will strengthen energy security, enhance grid resilience and support Egypt’s transition to a low-carbon economy,” said Infinity Power’s Co-Founder and CEO Nayer Fouad.    

Nefer Menya for Renewable Energy, the special purpose vehicle (SPV), owned by Infinity and HAU, will secure $160 million A-loan from EBRD’s own funds, while $75 million B-loan has been mobilized by the bank from the Bank of Jordan. Another $30 million is concessional financing from the CIF Clean Technology Fund (CTF) under its Global Energy Storage program.

Chinese solar PV manufacturer AIKO is supplying its all-back-contact (ABC) solar modules for the Nefer Menya Solar Project located in Minya Governorate.

The Egyptian Electricity Transmission Company (EETC) will offtake power generated from the facility under a 25-year power purchase agreement (PPA). It will provide clean power at a lower cost than conventional generation, says EBRD.  

“Egypt continues to be a trailblazer in large-scale renewable energy deployment at affordable prices. By combining solar generation with utility-scale battery storage, this project will strengthen the country’s energy security and enhance grid resilience,” stated Aida Sitdikova, EBRD Director of Sustainable Infrastructure in the Middle East and Africa.

Egypt targets to achieve 42% share of renewable energy in its electricity mix by 2030. In 2023-2024, it was about 12%. The country has plans to facilitate 10 GW of new private-sector renewable energy capacity by 2028 while cutting down 5 GW of inefficient fossil-fuel capacity. In 2026, the country announced plans to add 3 GW of solar power capacity, along with 600 MW of new battery storage before summer (see Egypt To Bring Online 3 GW Solar Energy In 2026).   

Australia-based battery energy storage system (BESS) company Akaysha Energy has established an AUD 1.75 billion portfolio financing platform. It will refinance the company’s four BESS projects in Australia: Brendale, Orana, Ulinda Park and Elaine. The financing is backed by 11 banks, including ANZ, BNP Paribas, Bank of China, CIBC, Commonwealth Bank of Australia, Deutsche Bank, DNB, ING, Mizuho, MUFG, and Rabobank. The financing will support the company’s development pipeline of approximately 6 GW/25 GWh of large-scale battery storage projects across Australia’s National Electricity Market (NEM). Akaysha Energy owns and operates the 850 MW/1.68 GWh Waratah Super Battery in New South Wales that’s touted to be one of the world’s most powerful BESS projects (see Australia Powers Up 850 MW Waratah Super Battery Project).  

Blackstone’s Energy Transition Fund Hits $8.7 Billion

Blackstone has closed its fifth energy transition fund, Blackstone Energy Transition Partners V, with $8.7 billion in capital commitments. This is more than 50% higher than its predecessor fund. Blackstone says this fund has already invested in power generation, electric transmission, energy efficiency, and infrastructure businesses, including three platform companies focused on power generation and transmission development. Blackstone said it has committed more than $11 billion in new equity investments across the energy transition sector since January 2025. 

Low Carbon Proposes 1 GW Solar Project in Essex

UK-based renewable energy company Low Carbon has launched the Dengie Peninsula Energy Park Project in Essex, UK. It is planned to have a potential capacity of 1 GW, combining solar power and battery energy storage to export clean electricity to the grid. Low Carbon says the project is intended to support the UK’s clean energy transition, with public consultation planned for early 2027. It qualifies as a Nationally Significant Infrastructure Project (NSIP) since it will have a generation capacity exceeding 100 MW. Low Carbon plans to submit a Development Consent Order (DCO) application to the Planning Inspectorate. Earlier this year, in July 2026, the UK government announced planning reforms aimed at reducing up to 12 months from the approval process for major infrastructure projects in Britain, including solar farms (see Britain Cuts NSIP Planning Process By Up To 12 Months).   

POWERCHINA Wins 2 GWh Contract for Saudi Standalone BESS

Shandong Electric Power Construction Corporation, a subsidiary of POWERCHINA, has secured a contract for a 500 MW/2,000 MWh standalone BESS project in Saudi Arabia. The Saudi Group 1-KSB independent energy storage power station project is part of the country's initial battery storage program, with Saudi Power Procurement Company (SPPC) as the offtaker. Once operational, it is expected to support grid flexibility, improve power supply resilience, and facilitate the integration of renewable energy. 

ACME Solar Secures 300 MW SECI FDRE Project

India’s ACME Solar has signed a power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) for a 300 MW/1,200 MWh assured peak supply project under the FDRE-IX tranche at a tariff of INR 6/kWh. The project will combine solar power and battery energy storage to supply electricity for four hours daily during non-solar hours, with a minimum monthly availability of 90%. Following the agreement, ACME Solar says its signed PPAs for projects under construction reached 4.31 GW, out of a total contracted capacity of 5.38 GW under construction. 

GRIPS Energy Expands C&I Solar and Storage in Africa

Fortis Green Renewables Investment Management and Zeitinger Invest have invested in GRIPS Energy Group to support the expansion of commercial and industrial (C&I) solar and battery energy storage projects across Sub-Saharan Africa. The investment will finance the acquisition of operational renewable energy assets in Senegal, Botswana, Zambia, and Uganda, while providing growth capital for new projects. GRIPS aims to build a portfolio of more than 100 MW of solar and storage assets by 2030.

South Australia has selected four developers to advance renewable energy proposals with almost 13 GW of potential generation capacity, near Whyalla. The state government says this is one of the largest renewable energy development opportunities ever released in the state.

The South Australian Department for Energy and Mining said the proposed developments could help meet the region’s future energy needs and support industrial growth, including new investment in the Upper Spencer Gulf.

Among the selected developers is Windlab, which has proposed up to 6 GW of wind and solar energy generation for its Whyalla West Project across 2,386 km². Stage 1 of the facility will also include battery storage. 

According to local media reports, Altra Energy has proposed to build a 4.7 GW wind and solar project on 586 km², Heron Energy plans to build a 1.6 GW wind project on 314 km², and Neoen aims to use 81 km² for its 350 MW solar project.

Together, these proposals cover more than 3,300 square kilometers in the Whyalla West Release Area, on pastoral land west of Whyalla within Barngarla Country.

South Australia selected these projects under the state’s renewable energy legislative framework, introduced in 2023. In April 2026, it released 11,000 km² of land for renewable energy development under the Hydrogen and Renewable Energy Act 2023 (see South Australia Opens 11,000 km² For Renewable Projects).  

The successful developers will have the exclusive right to apply for Renewable Feasibility Licenses. These licenses would allow them to conduct detailed technical, commercial, and environmental studies to determine whether their projects can proceed.

Australia’s renewable energy investment reached a record level in 2026, according to data released by the federal government. Large-scale renewable energy projects representing 5 GW of capacity had reached final investment decisions (FIDs) by the end of September, exceeding the previous full-year record of 4.9 GW. This includes 2.1 GW reaching FID in Q3, comprising 1.1 GW of wind and 1 GW of solar projects.