Maiden Indian investment for Ingka: Ingka Investments, the investment arm of Ingka Group – the largest IKEA retailer – has announced its maiden renewable energy investment in India with a 210 MW solar project in Bikaner, Rajasthan. The subsidy-free project, developed with ib vogt Solar India, will begin construction soon and is expected to start operations by December 2026, generating about 380 GWh annually. This will be more than enough to power its retail, shopping center, and distribution operations in the country. The initiative is part of Ingka’s €7.5 billion global commitment to support 100% renewable energy consumption across its value chain and beyond by 2030 as a member of the RE100 network. IKEA India CEO Patrik Antoni said that the company is on track to power its operations with 100% renewable energy by 2025.
Goldi Solar raises investment: Goldi Solar Pvt. Ltd., one of India’s largest solar PV module manufacturers with an annual capacity of 14.7 GW, has received a growth capital infusion of INR 14.22 billion led by Havells India Limited. Havells aims to accelerate the adoption of high-efficiency solar technologies with this investment in Goldi. Other investors in this round include institutional and individual investors, such as Ambit Wealth, Nikhil Kamath, Shahi Exports, and SRF Transnational. Advised by SBI Capital Markets, the funding will support Goldi Solar’s expansion of manufacturing capacity, backward integration into solar cell production, and development of high-efficiency technologies as it makes efforts to go public. In August 2025, Goldi had announced raising INR 1.37 billion from online retail brokerage firm Zerodha founder Nikhil Kamath (see Nikhil Kamath Invests INR 1.37 Billion In Goldi Solar).
INR 7.8 billion for rooftop solar: Fourth Partner Energy has secured INR 7.8 billion refinancing from NIIF Infrastructure Finance (NIIF IFL) for its rooftop solar portfolio, which currently stands at 370 MW. FPL has also commissioned more than 1.2 GW of clean energy projects via the open access route. It is currently also developing more than 800 MW of wind-solar hybrid projects. The company has executed more than 50 MWh of BESS capacity for corporates to provide them with round-the-clock (RTC) firm power. It aims to expand its installed base to 9 GW by 2031.
INR 50 million for Beyond Renewables: Indian technology startup Beyond Renewables & Recycling has raised INR 50 million to advance the development of its proprietary recycling technology. This pre-seed funding round was led by Momentum Capital, with co-investors Venture Catalysts, IIMA Ventures, Oorjan Cleantech, and Gautam Das. The company will also deploy the funds to strengthen its waste supply chain and scale operations. According to a company release, Beyond Renewables’ recycling technology can recycle and recover more than 95% of the PV components, including aluminum, glass, silicon, silver, and copper. It sees potential in the Indian market, where the company says nearly 1.2 million tons of solar waste is expected by 2040. It could scale up to 4.8 million tons under an early-loss scenario. Beyond Renewables currently has more than 2,000 metric tons of solar waste in its pipeline. It is now expanding partnerships with module manufacturers, EPC players, and asset owners.
$3.3 million for Solvyn: India-based Smart Grid Analytics Pvt Ltd has raised $3.3 million from global clean-energy investors to advance its AI-driven renewable energy management platform, Solvyn. It unifies generation, storage, and market operations under a single intelligent framework. Built on a no-code, widget-based architecture, Solvyn is designed to tackle grid integration challenges caused by renewable intermittency and aging infrastructure, said the management. The investment will support product innovation, team growth, and expansion into MENA, Europe, and North America markets. The product is already deployed in 20 countries across solar, wind, hybrid, and BESS projects. “With Solvyn, we've built the world's first unified intelligence layer for energy—capable of forecasting, trading, sizing, and self-optimising assets across solar, wind, storage, and hydrogen. This funding will enable us to scale globally and deliver on our promise of Energy That Thinks,” said Smart Grid Analytics Founder and CEO Kumar M.
