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Solfin Sustainable Finance Private Limited, one of India’s fastest-growing green finance NBFCs, is gearing up to raise ₹500-600 crore in institutional debt after securing an investment-grade CARE A- credit rating, as it looks to deploy nearly ₹1,000 crore towards accelerating clean energy financing across India. The planned debt raise follows the company’s recent ₹280 crore equity infusion and achievement of profitability within its first full year of operations, marking a significant milestone in its evolution into an institutionally backed green finance platform built to support India’s rapidly expanding distributed renewable energy ecosystem.

As India targets 500 GW of non-fossil fuel capacity by 2030, access to affordable, timely and specialised financing remains one of the most critical enablers of the country’s clean energy transition. While technological advancements and supportive policy measures have accelerated solar adoption, financing continues to be the key determinant of how quickly households, MSMEs, commercial enterprises and developers can adopt renewable energy solutions. Solfin was established to address this challenge by building a technology-first financing platform purpose-built for green assets.

Since its inception, Solfin has built a differentiated financing ecosystem anchored in a proprietary underwriting engine, data-driven credit assessment and a fully digital loan journey. Today, the company works with more than 1,350 ecosystem partners, including EPC companies, dealers, OEMs and leading manufacturers such as Waaree Energies, providing financing solutions across residential, commercial & industrial (C&I), group housing societies, EPC and dealer segments. Its integrated technology platform has reduced residential loan approval timelines from weeks to days, while compressing turnaround times for complex commercial and industrial financing into single-digit days.

The company recently strengthened its balance sheet through a ₹280 crore equity raise and achieved profitability within its first full year of operations, underscoring the resilience of its business model and disciplined approach to growth. Together with the CARE A- rating, these milestones position Solfin to enter its next phase of expansion with stronger institutional credibility and enhanced access to growth capital.

Commenting on the development, Gautam Kaushik and Pramod Mahanta, Co-founders of Solfin Sustainable Finance, said: “India’s clean energy transition will ultimately be financed, not just manufactured. As distributed renewable energy scales across the country, specialised financial institutions will play a defining role in ensuring that access to capital keeps pace with demand. Our recent equity raise, profitability milestone and now the CARE A- rating collectively validate the institution we have built-one that combines technology, disciplined underwriting and strong governance to deliver financing at scale. The rating significantly strengthens our ability to mobilise institutional debt responsibly and expand fast, transparent financing solutions to homeowners, MSMEs, businesses, EPCs and channel partners across India, particularly in Tier 2 and Tier 3 markets.”

The rating also reflects Solfin’s strategic backing from the Waaree Group, promoters of one of India’s leading renewable energy companies, providing the company with deep sector expertise and a strong ecosystem advantage. This integrated approach has enabled Solfin to build a specialised green financing platform that combines technology, sector knowledge and distribution partnerships to address one of the largest gaps in India’s energy transition- access to affordable and efficient financing.

Trinasolar, a global smart photovoltaic and energy storage solutions provider, has supplied over 55,000 solar modules for the 37MW RASLAG 4 Solar Power Plant in Pampanga, Philippines, reinforcing its role in supporting utility-scale solar deployment across the Philippines and Southeast Asia.

Developed by RASLAG Corp., a Philippine solar power producer listed on the Philippine Stock Exchange, RASLAG 4 is rated at 36.65-megawatt peak (MWp) and has been operational since October 2024. The project recently obtained its Certificate of Compliance from the Energy Regulatory Commission, confirming its status as a compliant operating renewable energy generation facility in the Philippines.

RASLAG 4 is expected to generate approximately 48 gigawatt-hours (GWh) of electricity annually in 2026 and 2027. This is enough to power around 20,000 households each year and displace approximately 34,000 metric tons of carbon dioxide emissions annually.

Reyland Benjamin Nepomuceno, Chief Strategy Officer of RASLAG Corp., said, “RASLAG 4 marks another step in our work to expand homegrown renewable energy capacity and help meet the Philippines’ growing power demand. Connected to the 69-kilovolt transmission line of the National Grid Corporation of the Philippines, the project adds clean power capacity to the country’s grid. For a project of this scale, we needed solar modules backed by proven technology, dependable supply, and utility-scale project experience. Trinasolar brought these strengths to RASLAG 4, supporting our efforts to bring more renewable power to Filipino communities.”

Elva Wang, Group Director for Southeast Asia at Trinasolar, said, “Trinasolar is proud to be part of RASLAG 4, which adds reliable renewable energy to the Philippines’ power grid. The Philippines is an important market for Trinasolar, where we have worked with partners since 2013 to support utility-scale solar deployment. As power demand continues to grow, we will continue supporting the market with solar and energy storage solutions that strengthen the country’s clean energy infrastructure.”

Belding India Limited launched its Hybrid Battery Energy Storage System (BESS) at India Energy Storage Week 2026 to improve energy efficiency in diesel generator-based power systems. The product, conceptualised, designed, and developed indigenously by the company, was unveiled by Shri Shripad Yesso Naik, Hon’ble Minister of State for New and Renewable Energy, Government of India. This launch supports the transition towards smarter, cleaner, and reliable power solutions.

The Hybrid BESS reduces diesel consumption by 40–80%, depending on the load profile, significantly lowering fuel costs and operating expenses. By minimizing DG runtime, the system decreases maintenance needs and extends generator lifespan. It provides instant backup power during DG startup and enables peak load shaving, allowing the battery to manage sudden load spikes. This capability reduces the required DG capacity and ensures generators operate within their optimal load range.

Beyond cost savings, the system delivers clean and stable power with enhanced voltage and frequency regulation. It supports the integration of renewable energy sources like solar power and reduces carbon dioxide emissions and noise pollution. These features enhance system reliability and uptime for critical operations while lowering the total cost of ownership over the system’s lifecycle.

The solution is designed for deployment across various industries and critical infrastructure applications. Target sectors include data centres, manufacturing facilities, hospitals, airports, telecom towers, mining operations, oil and gas sites, defence installations, remote industrial locations, and construction projects.

Mr. Umesh Kumar Sahay, Chairman of Belding India Limited, stated that the launch reinforces the company’s commitment to sustainable energy solutions. He emphasized that the Hybrid BESS helps industries reduce diesel dependency while ensuring uninterrupted power, aligning with the Make in India vision.

Solplanet showcased its latest utility-scale solar solutions at Intersolar Europe 2026 in Munich, presenting its expanding portfolio of high-power inverters to international industry professionals. Alongside its established utility product range, the company also unveiled the prototype of its next-generation utility-scale inverter, currently under development.

One of the highlights at the exhibition was the ASW 250–360K-HT Series, designed to meet the demands of large-scale photovoltaic power plants. Delivering high efficiency, flexible system design, and reliable performance, the series is compatible with high-power PV modules and has been developed to address the evolving requirements of utility-scale solar projects.

Solplanet also introduced, for the first time, the prototype of its upcoming 510 kW utility-scale inverter, demonstrating the company’s vision to further expand its portfolio for large-scale solar applications. The new inverter is being developed to support the next generation of utility-scale PV plants with even greater power density and enhanced system performance.

Commenting on the new product, Ibrahim Kadriinamdar, Regional Sales Manager of INDIA & MENA at Solplanet, said:  The ASW510kW is an ideal solution for utility-scale solar parks, and government tenders, where high performance, low Levelized Cost of Energy (LCOE), and long-term reliability are critical.

With its high-power density, the ASW510kW reduces the number of inverters required, lowering installation, cabling, civil works, and maintenance costs. Its advanced grid support functions, intelligent monitoring, and robust protection features ensure reliable operation throughout the project’s lifetime.

With its expanding portfolio of utility-scale inverters and energy storage solutions, Solplanet continues to strengthen its presence in global renewable energy markets while supporting the transition toward more efficient and sustainable large-scale solar power generation.

The Ministry of New and Renewable Energy (MNRE) has reopened the National Institute of Solar Energy (NISE) Domestic Content Requirement (DCR) portal, allowing eligible manufacturers to submit applications for investment protection under the Approved List of Models and Manufacturers (ALMM) List-II. The portal will remain open until July 23, 2026.

The move is aimed at providing another opportunity for manufacturers who were unable to complete or submit their applications within the earlier deadline. Through this extension, the ministry seeks to ensure that eligible investments made towards domestic solar manufacturing are considered under the investment protection provisions linked to ALMM List-II.

Manufacturers intending to avail the benefit must submit the required information and supporting documents through the reopened NISE DCR portal before the closing date. The initiative is expected to support companies that have already made significant investments in establishing domestic manufacturing facilities and are seeking recognition under the applicable policy framework.

The reopening of the portal reflects the government’s continued efforts to strengthen India’s domestic solar manufacturing ecosystem while facilitating a smoother transition to the revised ALMM framework. By providing additional time for eligible applicants, MNRE aims to encourage wider participation and ensure that genuine investments are adequately protected.

ALMM List-II forms an important part of India’s strategy to promote indigenous manufacturing of solar equipment, reduce dependence on imports, and build a resilient domestic supply chain. The latest extension is expected to benefit manufacturers working to align their operations with the country’s long-term renewable energy and self-reliance objectives.

Interested manufacturers are advised to complete their submissions through the NISE DCR portal before July 23, 2026, to be considered under the investment protection provisions.

Pattern Energy, a leader in clean energy and transmission infrastructure, and Salt River Project (SRP), a not-for-profit public power utility serving more than 2 million people in central Arizona, announced they have signed a Power Purchase Agreement (PPA) for 600 megawatts (MW) of SunZia. This agreement will help SRP meet growing energy demand across the Phoenix metropolitan area while maintaining affordability, reliability and sustainability for customers.

SRP will receive 400 MW of energy beginning this fall and will increase its allocation to 600 MW by summer of 2027.

“This PPA highlights SRP’s leadership and our partnership, showing how a diverse and cost‑effective energy portfolio can meet Arizona’s needs today while supporting a reliable and resilient grid for the future,” said Pattern Energy’s Chief Executive Officer Hunter Armistead.

SunZia is set to deliver enough energy to power approximately one million American homes annually, representing an $11 billion energy investment across the Southwest. Backed by a 3,650 MW wind resource and a 550‑mile HVDC transmission line that efficiently moves large amounts of electricity across long distances, it adds a new, clean resource that contributes to SRP’s diverse portfolio of energy resources, which includes hydro, wind, natural gas, solar, battery storage and other generation.

SRP currently has 288 MW of wind energy serving its customers. The energy from SunZia supports SRP’s plan to more than double the capacity of its power system by 2035 through the addition of thousands of megawatts of renewable energy, as well as natural gas and battery energy storage resources.

“This agreement with Pattern Energy plays a key role in SRP’s all-of-the-above approach to meeting the growing energy needs of the Phoenix metropolitan area reliably, affordably and sustainably,” said Bobby Olsen, Associate General Manager and Chief Power System Executive.  “This project will triple the amount of wind energy on SRP’s grid, helping us make progress toward our carbon reduction goals.”

Bluebird Solar has announced the appointment of Mr. Sandesh Singh as its new Deputy General Manager, strengthening the company’s leadership team and business development initiatives.

With extensive experience in sales and business development, Mr. Sandesh Singh brings valuable industry knowledge and strategic expertise to his new role. His appointment is expected to support Bluebird Solar’s growth objectives, particularly in expanding its market presence across the West Region.

In his new position, Mr. Singh will play a key role in driving business expansion, strengthening customer relationships, and contributing towards the company’s vision of accelerating solar adoption through innovative and sustainable energy solutions.

Welcoming the appointment, Bluebird Solar highlighted that Mr. Singh’s experience and leadership capabilities will add significant value to the organisation as it continues to expand its footprint in India’s growing renewable energy sector.

The company expressed confidence in his ability to contribute towards achieving new milestones and supporting Bluebird Solar’s journey towards sustainable growth and a stronger clean energy ecosystem.

From Vision to Reality: The Entrepreneurial Journey

Vsole Solar is the result of the entrepreneurial vision of Mr. Sagar Sojitra (Founder & Director) and Mr. Prakash Sojitra (Co-Founder & Director), who identified the growing need for reliable, affordable, and innovative solar solutions in India. While much of the industry was focused on solar module manufacturing, the founders recognized the critical role of solar inverters, the technology that forms the heart of every solar power system. They chose to build expertise in this technically demanding segment, laying the foundation for a company driven by innovation and engineering excellence.

The journey, however, was not without challenges. In the early days, finding skilled professionals for inverter manufacturing proved difficult due to the specialized knowledge the process required. Rather than compromising on quality, the founders invested in building talent from the ground up, training employees in advanced manufacturing processes and creating a highly skilled, dedicated team that shared their vision. This commitment to people and technology became one of Vsole’s greatest strengths.

Today, what began as a vision to contribute to India’s renewable energy future has evolved into a rapidly growing solar technology company manufacturing advanced Grid-Tie and Hybrid Solar Inverters, energy storage solutions, and smart energy management systems. Through continuous innovation, indigenous manufacturing, and customer-centric service, the founders have established Vsole as a trusted and fast-growing name in India’s solar industry.

The Evolution of Vsole Solar

Established in Surat, Gujarat often referred to as one of India’s major solar hubs, Vsole Solar was built by a team of professionals with over a decade of experience in the solar industry. From the beginning, the company’s focus was on developing dependable solar inverters that combine performance, affordability, and long-term reliability.

Over the years, Vsole has expanded its capabilities significantly:

• Developed advanced Grid-Tie and Hybrid Solar Inverters.
• Established a modern manufacturing facility in Gujarat.
• Expanded its dealer and service network across India.
• Built a reputation for quick service support and customer-centric solutions.
• Invested heavily in in-house R&D and product innovation.

A major milestone came with the inauguration of Vsole’s integrated solar inverter manufacturing facility, capable of producing more than 20,000 inverters per month. This move strengthened quality control, increased manufacturing capacity, and accelerated innovation.

Products and Solutions Offered

Today, Vsole Solar offers a comprehensive range of solar energy solutions designed for residential, commercial, and industrial applications.

Solar Inverters

• Single-Phase Grid Tie Inverters
• Three-Phase Grid Tie Inverters
• Hybrid Solar Inverters
• Micro Inverters
• Bi-Directional Inverters

Energy Storage Solutions

• Lithium Iron Phosphate (LFP) Batteries
• Energy Storage Systems (ESS)
• All-in-One Hybrid + Battery Solutions

Smart Energy Technologies

• Remote Monitoring Systems
• Intelligent Energy Management Solutions
• Zero Export Devices (ZED)
• Advanced MPPT Technology for Maximum Efficiency

These products are designed to deliver high performance, reliability, and ease of use while helping customers maximize their solar investment.

Market Opportunities and Growth Plans

India’s renewable energy sector is experiencing unprecedented growth, driven by government initiatives, increasing electricity costs, and growing environmental awareness. As solar adoption accelerates across residential, commercial, and industrial sectors, the demand for high-quality, locally manufactured solar equipment continues to rise.

Vsole is strategically positioned to capitalize on these opportunities through:

• Expansion of manufacturing capacity.
• Strengthening dealer and distributor networks across India.
• Increased focus on solar-plus-storage solutions.
• Enhanced investment in research and development.
• Expansion into emerging renewable energy technologies.
• Stronger service and support infrastructure nationwide.

The company’s commitment to domestic manufacturing also aligns with India’s push for self-reliance in clean energy technologies, creating a significant competitive advantage.

What’s Next for Vsole Solar?

The future roadmap for Vsole Solar extends beyond conventional solar inverters. The company is actively working on next-generation energy technologies that will shape the future of renewable energy.

Upcoming focus areas include:

• Advanced Hybrid Inverters with smart energy management.
• AI-enabled performance monitoring and analytics.
• Higher-capacity three-phase inverter solutions.
• Large-scale energy storage systems.
• Solar modules and integrated solar ecosystems.
• Smart-grid compatible energy solutions.
• Expanded presence across India and international markets.

Powering a Sustainable Future

Vsole Solar’s journey reflects the spirit of innovation, entrepreneurship, and sustainability. From a visionary startup in Surat to a growing force in India’s solar manufacturing ecosystem, the company continues to push boundaries through technology, quality, and customer-centric solutions.

With a strong foundation in indigenous manufacturing, continuous R&D, and a commitment to clean energy, Vsole Solar is not just building products; it is helping build a greener, more energy-secure future for India and beyond.

Vikram Solar has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to set up a Battery Energy Storage System (BESS) manufacturing facility at the SIPCOT Industrial Park in Gangaikondan, Tirunelveli district, with a proposed investment of INR 15,037 crore.

The project is expected to generate 2,670 employment opportunities and marks one of the state’s largest investments in advanced energy storage manufacturing. The MoU was signed in the presence of Tamil Nadu Chief Minister S. Joseph Vijay during an event organised by the state’s Department of Industries, Investment Promotion and Commerce.

According to the state government, the proposed facility will manufacture Battery Energy Storage Systems (BESS), strengthening Tamil Nadu’s position as a key manufacturing hub for clean energy technologies while supporting India’s growing energy storage ecosystem.

The announcement builds on Vikram Solar’s existing manufacturing footprint in Tamil Nadu. The company already operates solar PV module manufacturing facilities at Oragadam and Vallam and has also established an integrated manufacturing complex for solar cells and modules at Gangaikondan in Tirunelveli district. The new BESS facility is expected to expand the company’s clean energy manufacturing portfolio in the state.

REC Ltd. has announced that it has signed a Memorandum of Understanding (MoU) with the Tripura Renewable Energy Development Agency (TREDA), through the Department of Power, Government of Tripura, to facilitate financing of renewable energy projects worth up to INR 5,000 crore in the state.

The agreement was signed during the Destination Tripura Business Conclave 2026, to accelerate renewable energy deployment and strengthen the clean energy ecosystem in Northeast India.

The MoU was executed by Subhendu Roy, Chief Program Manager, REC Regional Office, Guwahati, and D.S. Das, Director General (In-charge), TREDA, in the presence of K. Ashish Rao, Deputy General Manager (BDM), REC Ltd., and Uttam Kumar Bargayary, Chief Manager, REC Ltd.

Under the agreement, TREDA, the nodal agency for renewable energy development in Tripura, will facilitate the implementation of renewable power projects across the state, while REC will extend financial assistance to support investments in the sector.
The collaboration aims to accelerate clean energy adoption, promote sustainable development, and unlock Tripura’s renewable energy potential through enhanced access to financing. The initiative is also expected to contribute to the broader energy transition across Northeast India by supporting the development of renewable power infrastructure, stated REC.