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Mergers & Acquisitions

First half 2023 total solar corporate funding increased 54% year-over-year

According to Mercom’s Solar Funding report almost 25.5 GW of solar projects were acquired in the first half of the year, totaling $18.5 billion.

Himadri invests US$6.7 million in Australia’s Sicona Battery Technologies

India’s Himadri Speciality Chemical has acquired a 12.79% stake in Sicona Battery Technologies, an Australian startup that specializes in high-capacity silicon anode technology for lithium-ion batteries.


Siemens to acquire Mass-Tech Controls’ EV division

The acquisition will strengthen Siemens’ capability to address the fast-growing demand for electric vehicle (EV) charging infrastructure in India.

IndiGrid to acquire Virescent’s 538 MWp solar portfolio

Post this acquisition, IndiGrid’s overall solar assets portfolio will reach 674 MWp.

First Solar acquires Swedish perovskite specialist Evolar

First Solar has agreed to pay $38 million to buy Swedish manufacturing startup Evolar AB, as it seeks to expand development of high-efficiency tandem PV tech.


JSW Energy completes acquisition of Mytrah’s 1.75 GW renewable assets

JSW Energy arm JSW Neo Energy has completed the acquisition of 1,331 MW of wind capacity and 422 MW solar from Mytrah Energy for INR 10,150 crore ($1,235 million).

Gensol Engineering acquires solar tracker specialist Scorpius

Gensol Engineering Ltd has acquired Pune-based Scorpius Trackers for INR 135 crore ($16.42 million). The acquisition allows Gensol Engineering to offer a comprehensive solar EPC package that includes Scorpius Trackers’ innovative solar tracking technology.

Virescent acquires 25 MW of operating solar assets from Samta Energy

The solar plant is purportedly located in Gujarat and benefits from supplying power to the state-owned power distribution utility.

Adani Green Energy buys 50% stake in Rajasthan-based solar park developer

The developer’s arm Adani Renewable Energy Holding Two has signed a deal to acquire a 50% stake in Essel Saurya Urja Co. of Rajasthan Ltd (ESUCRL) from Essel Infraprojects Ltd, for INR 15 crore. The remaining 50% equity of ESUCRL will continue to be held by the Government of Rajasthan.

L&T sells stake in L&T IDPL

The Indian multinational EPC provider has sold its 51% stake in L&T Infrastructure Development Projects to a platform backed by Edelweiss Alternatives.

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