PMSGY accelerates residential rooftop solar, yet supply and financing hurdles remain
Despite a nearly fourfold increase in applications between March 2024 and July 2025, only 13.1% of the target of one crore (10 million) residential rooftop solar installations had been achieved, and just 14.1% of the allocated INR 65,700 crore ($7.5 billion) in subsidies released under the PM Surya Ghar: Muft Bijli Yojana as of July 2025. Given this context, achieving the FY2027 target of 30 GW capacity remains a considerable challenge, according to a new report by IEEFA and JMK Research.
Eighth Assembly of International Solar Alliance scheduled from Oct. 27-30 in New Delhi
The International Solar Alliance (ISA) Assembly will focus on four key areas: catalyzing finance for solar projects, building global capability centres and advancing digitization, enhancing regional and country-level engagement, and developing technology and policy roadmaps.
ACME Solar Holdings upgraded to CRISIL AA-/Stable rating
CRISIL Ratings has upgraded its rating on ACME Solar’s non-fund-based long-term bank facilities of INR 1,000 crore to ‘AA-/Stable’ from ‘A+/Positive’.
ACME Solar Holdings assigned ‘AA-/Stable’ rating by ICRA
ICRA Ltd has assigned ‘AA-’ credit rating with ‘Stable’ outlook on ACME Solar Holdings’ long-term non-fund based bank facilities. The rating reflects ACME Solar’s diversified portfolio across multiple locations and offtakers (primarily central), revenue visibility from long-term power purchase agreements (PPAs), optimal generation performance and comfortable debt coverage metrics.
TotalEnergies sells 50% stake in 1.4 GW solar portfolio
TotalEnergies announced it is acquiring a 49% interest in natural gas assets in Oklahoma on the same day it announced it is selling a 50% stake in its North American solar portfolio.
SECI announces maiden debenture issue to strengthen renewable energy investments
Solar Energy Corp. of India’s maiden debenture issue received an overwhelming response with 43 bids totaling INR 2,156.75 crore, against the total issue size of INR 600 crore.
Oyster Renewable secures INR 1,844 crore loan for 342 MW solar-wind hybrid project
Oyster Renewable Energy has achieved financial closure for its 342 MW solar-wind hybrid power project in Madhya Pradesh by securing a project loan of INR 1,844 crore from Union Bank of India.
KPI Green secures INR 3,200 crore SBI sanction for 1+ GWp solar and hybrid projects in Gujarat
KPI Green Energy Ltd has secured a sanction of INR 3,200 crore from State Bank of India to part-finance the development of its Independent Power Producer (IPP) portfolio clean energy projects aggregating over 1 GWp in Gujarat.
Alpex Solar raises INR 260.17 crore through preferential issue
The company will utilise the proceeds to complete its ongoing expansion and achieve full-scale production of solar cells, modules, and aluminium frames.
ACME Solar’s 250 MW renewable energy project secures “ICRA AA-/Stable” rating upgrade
The rating applies to ACME Aklera Power Technology’s 250 MW renewable energy capacity in Rajasthan for its INR 1,072 crore term loan facility from Bank of America, Standard Chartered Bank and India Infradebt Limited.
