IEX Power Trade Surges 30% YoY to 12,550 MU in February

Daily News Wrap-Up: Top Five States for Solar Open Access Installations

POWERGRID Floats Tenders to Set Up 300 MW/600 MWh Battery Storage Systems

Project Finance Brief: Arevon Energy Secures $183 Million for Solar Project

Funding and M&A Roundup: SolarAfrica Energy Secures $39 Million

UltraTech to Procure Solar Power from AMPIN SPV’s 30 MW Project

Bihar Announces Generic Renewable Energy Tariffs for FY 2026

Rooftop Solar Installations Under PM Surya Ghar Reach 3 Million

Terra Clean Issues Tender for 291 Transformers for Renewable Energy Projects

POWERGRID Invites Bids for 100 MW/200 MWh Battery Storage Project in Punjab


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2026/02/amazon_polly_91119.mp3?version=1771996944">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-first-solar-secures-1-5-billion/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>First Solar, a U.S.-based solar module manufacturer, has </strong><a href="https://mercomcapital.com/first-solar-secures-1-5-billion-revolving-credit-facility/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a $1.5 billion revolving credit facility</strong>. The agreement establishes a senior unsecured five-year facility with the option to increase the aggregate commitments under the facility by an additional $1 billion, subject to certain conditions and commitments from debt financing sources.</p>
<p><strong>ARRAY Technologies, a company that provides solar tracking technology products, software, and services for utility-scale solar energy projects, has </strong><a href="https://mercomcapital.com/array-technologies-secures-370-million-upsized-revolving-credit-facility/" target="_blank" rel="noopener"><strong>upsized</strong></a> and extended its existing revolving credit facility from $166 million to $370 million. According to the company, the facility enhances its liquidity profile and provides additional flexibility to support operational execution, working capital needs, and global growth initiatives.</p>
<p><strong>ESS Tech, a manufacturer of iron flow long-duration energy storage solutions, has </strong><a href="https://mercomcapital.com/ess-acquires-intellectual-property-and-assets-of-voltstorage/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition</strong> <strong>of the intellectual property and assets of iron-salt battery company VoltStorage</strong>. VoltStorage filed for bankruptcy last year amid challenging market conditions, shifting investment cycles, and strategic headwinds. As part of the transaction, VoltStorage’s key executive and engineering teams will join ESS.</p>
<p><strong>Rio Tinto, a multinational mining company, has </strong><a href="https://mercomcapital.com/rio-tinto-acquires-majority-stake-in-nemaska-lithium/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it now owns a 53.9% stake in Nemaska Lithium</strong>, a Canadian mining company. In 2025, Rio Tinto acquired a 50% stake in Nemaska Lithium through the acquisition of Arcadium, a lithium chemicals producer. The acquisition also comprises the lithium hydroxide plant in Bécancour and the Whabouchi spodumene mine in the Eeyou Istchee James Bay region of Québec.</p>
<p><strong>Intertek Group, a global total quality assurance provider to industries, has </strong><a href="https://mercomcapital.com/intertek-group-acquires-aerial-pv-inspection/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of Aerial PV Inspection,</strong> a provider of TEK-powered inspection and diagnostic solutions for solar PV systems. This latest acquisition is expected to strengthen Intertek CEA’s end-to-end quality assurance offering for the solar industry.</p>
<p><strong>Battery solutions provider Coulomb Litech has </strong><a href="https://www.mercomindia.com/battery-solutions-provider-coulomb-litech-raises-%E2%82%B9200-million-in-seed-funding" target="_blank" rel="noopener"><strong>raised</strong></a><strong> ₹200 million (~$2.21 million) in its latest seed round</strong>, aiming to accelerate the electrification of medium and heavy-duty electric vehicles through its fast-charging battery technology. The funding will be used to develop high-performance battery solutions designed for the toughest use cases. Over the past five years, Coulomb Litech has deployed its fast-charging batteries across e-tractors, material-handling equipment such as forklifts, light commercial vehicles, and cranes.</p>
<p><strong>Electric mobility startup, Pluto Mobility, has </strong><a href="https://www.mercomindia.com/pluto-mobility-raises-2-million-in-seed-funding-led-by-version-one" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $2 million in seed funding to develop its electric vehicle platform for last-mile delivery</strong>. The funding round was led by Version One Ventures, with participation from gradCapital and operators across the logistics and hardware sectors. The seed funding marks Pluto’s first external capital raise. The company stated that the capital will be deployed to advance engineering development, expand its team, and prepare for pilot deployments scheduled for 2026.</p>
<p><strong>Electric vehicle charging network operator Statiq has </strong><a href="https://www.mercomindia.com/statiq-raises-18-million-to-expand-ev-charging-network" target="_blank" rel="noopener"><strong>raised</strong></a><strong> about ₹18 million through a mix of debt and equity</strong>. The funding round was led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures, and RCD Holdings. The fresh capital will be used to aggressively expand its charging infrastructure and deepen its footprint across tier-1 and tier-2 cities. A significant portion of the investment will be used to deploy more DC fast chargers along key highway corridors.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week’s funding <a href="https://www.mercomindia.com/funding-ma-roundup-solv-energy-raises-589-million-ipo" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: First Solar Secures $1.5 Billion


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2026/02/amazon_polly_90993.mp3?version=1771594059">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Gurugram-based electric vehicle (EV) charging network operator <a href="https://www.statiq.in/" target="_blank" rel="noopener">Statiq</a> has raised about ₹18 million through a mix of debt and equity.</p>
<p>The funding round was led by <a href="https://tenacity.vc/" target="_blank" rel="noopener">Tenacity Ventures</a>, with participation from <a href="https://www.ycombinator.com/" target="_blank" rel="noopener">Y Combinator</a>, <a href="https://www.shell.com/what-we-do/technology-and-innovation/innovate-with-shell/shell-ventures.html" target="_blank" rel="noopener">Shell Ventures</a>, and RCD Holdings.</p>
<p>The fresh capital will be used to aggressively expand its charging infrastructure and deepen its footprint across tier-1 and tier-2 cities.</p>
<p>A significant portion of the investment will go towards deploying more DC fast chargers along key highway corridors, enhancing product reliability to achieve 99.9% uptime, and accelerating EV adoption.</p>
<p>Founded in 2020 by Akshit Bansal and Raghav Arora, the company operates EV charging networks.</p>
<p>Statiq also plans to expand internationally by exporting its ‘Made in India’ hardware, building on successful pilot projects in the UAE.</p>
<p>Additionally, the funds will support improvements in hardware lifecycle management and the integration of advanced telematics systems to enable seamless network scaling.</p>
<p>Last month, the company launched its first Franchise-Owned, Company-Operated (FOCO) EV charging station in Gurgaon. The deployment marked Statiq’s first implementation of the FOCO model, under which franchise partners own the charging infrastructure while Statiq manages end-to-end operations, including station performance, service quality, and on-ground execution.</p>
<p>In November last year, the company partnered with BMW Group India to power a 4,000 km high-speed charging corridor from Jammu to Madurai. The collaboration focuses on bringing reliable, high-power charging every 300–350 km.</p>
<p>Statiq’s network comprises over 8,000 chargers live across 70 cities. Its next goal is to expand to 20,000 charging points by 2026.</p>
<p>In 2024, it secured a tender from Bharat Petroleum Corporation (BPCL) to enhance EV infrastructure. The project included developing a custom app for BPCL and integrating its existing network of 2,800 chargers, comprising 2,000 AC and 800 DC chargers, into Statiq’s platform.</p>
<p>Earlier, Statiq had <a href="https://www.mercomindia.com/daily-news-wrap-up-kec-international-500-mw-solar-project-india" target="_blank" rel="noopener">won</a> a tender to supply 18 chargers to the Indian Oil Corporation.</p>


Statiq Raises $18 Million to Expand EV Charging Network

statiq

Get the most relevant India solar and clean energy news.

RECENT POSTS