- Markets
- Business
- People
- Opinion
- Technology
- Storage+
- Reports
- Our Events
- Tenders
- Price Index
- Top Modules
- ServicesServices
- AnalysisAnalysis
India-based ACME Solar Holdings Limited has completed a INR 2,800 crore Qualified Institutional Placement (QIP). This is the renewable energy company’s 1st equity capital raise since its 2024 listing. The offering attracted participation from a mix of domestic and international institutional investors, including mutual funds, insurance companies, and foreign institutional investors. Some of the names listed includes SBI Mutual Fund (MF), Nippon MF, HDFC MF, ICICI Prudential MF, Kotak MF, SBI Life Insurance, ICICI Prudential Life Insurance, BlackRock, Amundi, Goldman Sachs, Abu Dhabi Investment Authority and Pictet.
The company said the proceeds will be used to reduce debt and strengthen its balance sheet as it advances its renewable energy expansion plans. ACME Solar currently has an aggregated contracted renewable energy capacity of 8.07 GW.
Waaree Renewable Technologies Limited has signed a letter of award (LOA) for the EPC contract of a 450 MW DC/300 MW AC ground mounted solar project. Awarded by the company’s wholly-owned subsidiary Sunsational Power Private Limited (SPPL), the contract also requires Waaree to provide 2 years of operation and maintenance services. Waaree said it will complete the project during FY 2026-27.
GREW Solar has applied for the inclusion of 3.5 GW of n-type TOPCon G12R solar cell manufacturing capacity at its Narmadapuram facility in Madhya Pradesh in the Approved List of Models and Manufacturers (ALMM) List-II for solar PV cells. The Ministry of New and Renewable Energy (MNRE) enforced ALMM List-II on June 1,2 026 (see India Brings ALMM List-II For Solar Cells Into Force).
The manufacturer said its application aligns with the government’s push to expand indigenous solar cell production, improve supply-chain resilience, and enhance energy security. GREW Solar currently operates a 6.5 GW solar module manufacturing facility in Rajasthan to be scaled to 11 GW, and is developing an 8 GW solar cell manufacturing plant in Madhya Pradesh to be developed in 2 phases. It is now also venturing into solar ingot and wafer manufacturing with 8 GW plans ahead of India’s upcoming ALMM List-III (see GREW Solar Plans 8 GW Wafer Plant In Madhya Pradesh).
Solar EPC and integrated clean energy infrastructure company Sunkind India Limited has secured long-term supply access to 1 GW of TOPCon G12R domestic content requirement (DCR) solar cells through FY28. Secured ahead of the June 1, 2026 implementation of the Approved List of Models and Manufacturers (ALMM) List-II for solar cells, the company said the arrangement will provide it greater supply visibility as it ventures into solar module manufacturing itself.
Sunkind’s in-house solar PV module manufacturing facility in Jaipur is designed to produce high-efficiency DCR TOPCon modules ranging from 600 W to 630 W. Sunkind said the supply access, with one of the India’s leading solar manufacturers, aligns with its expansion strategy across EPC, module manufacturing, solar structures, renewable asset management, and clean energy solutions. The company targets revenues exceeding INR 1,000 crore in FY27.
Radiance Renewables has commissioned an 87 MW solar project at Korwar in Karnataka. The project was completed within the planned timeline and recorded over 330,000 safe man-hours without any incidents, said the company. Over its lifetime, the solar plant is expected to generate nearly 3.48 million MWh of clean electricity and avoid around 2.96 million tonnes of carbon dioxide emissions.
The facility is equipped with CEA-compliant reactive power compensation systems to support grid stability and is designed to be compatible with future battery energy storage system (BESS) integration. The project will supply renewable energy to customers in sectors including data centers, FMCG and automotive sectors. Radiance is targeting 2 GW of operational renewable energy capacity.
Automotive component supplier Samvardhana Motherson International Limited (SAMIL), through its energy arm Motherson New Energy Limited (MNEL), has commissioned its 1st ground-mounted captive solar power project in Uttar Pradesh (UP). Developed by its subsidiary Onega Solar Private Limited, the 15 MW facility in Mahoba will supply renewable electricity to multiple Motherson manufacturing plants across the state.
The project is expected to generate around 23.4 GWh of clean electricity annually and reduce approximately 17,000 tonnes of carbon emissions each year. Developed in partnership with ib vogt Solar India, the solar plant is part of Motherson’s broader strategy to increase renewable energy use, lower carbon intensity across operations, and strengthen long-term energy security. The company said it is also evaluating additional renewable energy opportunities across India as part of its energy transition roadmap.
