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JinkoSolar's Global Push Gains Pace as Overseas Shipments Top 80%
JinkoSolar's Global Push Gains Pace as Overseas Shipments Top 80% Photograph: (AI) Chinese solar major JinkoSolar is increasingly looking beyond its home market for growth, with overseas shipments accounting for more than 80% of its total module deliveries in the first quarter of 2026 as the company sharpens its focus on international markets, energy storage and premium solar products. The push is not just a measure of Jinko's global presence, but also the conditions in its home market, where demand and pricing remain under pressure. The world's largest solar module manufacturer by cumulative shipments said international demand remained the primary driver of its business during the quarter, helping offset challenges in the domestic Chinese market where intense competition and pricing pressures continue to weigh on profitability. The company shipped 13.7 GW of solar modules during the January-March period, with the majority of volumes destined for overseas markets. JinkoSolar said growing demand from industrial, commercial, residential and utility-scale customers for integrated solar and energy storage solutions is creating new opportunities across global markets. The emphasis on international markets reflects a broader shift underway in the solar industry. While China remains the world's largest solar market, manufacturers are increasingly targeting overseas regions where pricing remains relatively stable and customers are willing to pay a premium for high-efficiency products and integrated energy solutions. "Demand from industrial, commercial, residential and utility customers for solar and storage solutions continues to grow," the company said, adding that it is further optimising its production pipeline and geographic mix to respond to evolving market dynamics. Beyond modules, JinkoSolar is placing increasing emphasis on energy storage systems (ESS), which management identified as one of its fastest-growing businesses. ESS shipments rose significantly year-on-year during the quarter to around 1.42 GWh, with a large share delivered to overseas markets. The company expects storage shipments to more than double during 2026 as it expands capacity and strengthens its global supply chain footprint. Industry analysts see the strategy as part of a wider transition among leading solar manufacturers from being pure module suppliers to providers of integrated solar-plus-storage solutions. With grids worldwide requiring greater flexibility and energy security concerns rising across regions, demand for battery-backed renewable energy systems is accelerating. JinkoSolar is also betting heavily on technological differentiation to maintain its competitive edge. The company said its Tiger Neo 3.0 series modules now achieve average power outputs of 655-660 watts, while products above 640 watts accounted for nearly a quarter of total shipments during the quarter. These premium products command higher pricing and are expected to form an increasing share o
2026-06-17 · Saur Energy
tender
ACME Solar Commissions Additional 120 MWh Battery Storage Capacity in Rajasthan
ACME Solar Holdings Limited has expanded its battery energy storage footprint in India with the commissioning of an additional battery energy storage system (BESS) capacity in Rajasthan. The company disclosed the commissioning through a regulatory filing submitted to stock exchanges on June 12, 2026. The newly commissioned project has been developed by ACME Sun Power Private Limited, a wholly owned subsidiary of ACME Solar Holdings. The latest addition comprises a 33.331 MW/120.384 MWh battery energy storage system located at Badi Sid village in Bap tehsil, spanning parts of the Phalodi and Jodhpur districts of Rajasthan. According to the company, the project will officially achieve its Commercial Operation Date (COD) on June 14, 2026. The commissioning adds another operational asset to ACME's growing portfolio of renewable energy and storage projects across the country. Following the latest commissioning, ACME Sun Power's cumulative operational battery storage capacity has reached 300 MW/1,404.32 MWh. The milestone highlights the company's increasing focus on energy storage as India accelerates the deployment of renewable energy and works toward building a more resilient and flexible power system. Large-scale battery storage facilities are becoming increasingly important for balancing electricity supply and demand, particularly as solar and wind generation continue to expand across the grid. The latest commissioning follows recent projects of the company including commissioning of Phase-IV of its Rajasthan BESS project, adding 33.33 MW/160.48 MWh capacity. ACME Solar Holdings also signed a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for a 300 MW Firm and Dispatchable Renewable Energy (FDRE) project integrated with 1,200 MWh of energy storage capacity.
2026-06-17 · Saur Energy
market
82% of Indians Back Coal-to-Clean Energy Transition: Yale-CVoter Survey
82% of Indians Back Coal-to-Clean Energy Transition: Yale-CVoter Survey Photograph: (Archive) Public support for India's clean energy transition remains overwhelmingly strong, with 82% of Indians favouring a shift away from coal-fired power generation towards solar and wind energy, according to the latest Climate Change in the Indian Mind survey conducted by Yale University and CVoter International. The nationally representative survey of 5,427 adults, conducted between December 2025 and February 2026, comes at a time when India is grappling with intensifying heat waves, rising electricity demand and growing concerns over climate-related risks. The findings indicate a broad public mandate for accelerating renewable energy deployment. Nearly 87% of respondents said replacing coal with solar and wind power would benefit people in India, while 86% supported the country's commitment to achieve net-zero carbon emissions by 2070. The survey also found that 65% of Indians want the country to increase its use of renewable energy, compared with only 14% who favour expanding fossil fuel consumption. In addition, 62% believe leaving most of India's coal reserves in the ground is the best pathway towards a healthier, safer and more prosperous future. The strong backing for clean energy comes amid growing awareness of climate impacts. About 84% of respondents said they have personally experienced the effects of global warming, while 88% expressed concern about climate change. Worry about climate-linked hazards remains widespread, with 77% concerned about severe heat waves, 77% about air pollution and 76% about droughts and water shortages affecting their local communities. The findings are significant for India's energy sector, which continues to balance rising power demand with decarbonisation goals. Coal still accounts for nearly 70% of the country's electricity generation, but renewable energy additions have accelerated sharply in recent years. India's clean energy capacity expanded by more than 22% in 2025, with solar installations registering growth of nearly 39% during the year. The survey suggests public sentiment is increasingly aligned with the government's clean energy ambitions. India has set a target of sourcing 60% of its electricity from non-fossil fuel sources by 2035 and remains committed to achieving net-zero emissions by 2070. Support also extends beyond power generation. Nearly seven in ten respondents said they would be willing to pay more for an electric vehicle over a conventional petrol or diesel alternative to reduce both emissions and operating costs. Meanwhile, support for green jobs remains particularly strong, with more than 90% backing programmes aimed at training youth and women for employment in the renewable energy sector. The survey's findings are likely to provide an additional boost to policymakers and industry stakeholders advocating faster deployment of renewable energy infrastructure, grid modernisation and inves
2026-06-17 · Saur Energy
market
Mufin Bets on Profitable Growth as EV, Solar Financing Portfolio Nears ₹460cr
Mufin Bets on Profitable Growth as EV, Solar Financing Portfolio Nears ₹460cr Photograph: (Archive) Mufin Green Finance is betting on profitability-led growth while continuing to expand its clean mobility and renewable energy financing business, with its EV and solar financing portfolio reaching nearly ₹460 crore at the end of FY26. The NBFC's EV and solar financing assets under management (AUM) stood at ₹459 crore as of March 2026, including ₹166 crore in the retail segment and ₹293 crore in the business-to-business portfolio. The segment accounts for around 30% of Mufin's total AUM of ₹1,541 crore. The company finances electric three-wheelers, four-wheelers, buses, batteries, charging infrastructure and solar systems across India. Management said the EV and solar portfolio remains a key pillar of its green finance strategy, supported by partnerships with leading manufacturers including Tata Motors, Mahindra & Mahindra and Bajaj Auto. The company said its focus is increasingly on improving portfolio quality and returns rather than pursuing volume-led growth. "Stable, seasoned book with improving asset quality — capital being gradually redeployed into higher-growth verticals," the company said in its investor presentation, describing the evolution of its EV and solar financing business. The company reported collection efficiency of 97.71% and gross NPA of 1.94% in its EV and solar financing portfolio, reflecting improving asset quality trends. It is also leveraging AI-based underwriting and IoT-enabled monitoring of financed assets to improve credit assessment and portfolio performance. During the earnings call, Managing Director Kapil Garg said Mufin continues to attract support from global development finance institutions focused on climate finance, including Finnfund, Symbiotics, BlueOrchard and the U.S. International Development Finance Corporation. These institutions account for a significant portion of the company's borrowing base and continue to support its renewable energy and electric mobility lending activities. While newer digital lending products are expected to contribute a larger share of future earnings, Mufin said EV and solar financing will remain central to its mission of supporting India's energy transition through access to affordable green capital.
2026-06-17 · Saur Energy
market
After Solar Boom at Home, Polycab Eyes Global Growth Markets
After Solar Boom at Home, Polycab Eyes Global Growth Markets Photograph: (AI) After witnessing strong growth in its solar products business amid India's renewable energy expansion, Polycab India is looking to overseas markets as the next major growth avenue, betting on global grid modernisation and rising investments in energy infrastructure. The company reported that its solar products business doubled during FY26, emerging as the largest category within its Fast Moving Electrical Goods (FMEG) portfolio. Management attributed the growth to rooftop solar adoption, government incentives and increasing consumer demand for renewable energy solutions. "Our solar products business was a standout performer, delivering 2-fold year-on-year growth and emerging as the largest category within the FMEG portfolio," Shashank Yagnick, Head of Strategy and Investor Relations at Polycab, said during the company's Q4 FY26 earnings call. He added that the growth was driven by "government initiatives, state-level subsidy programs and rising consumer adoption of renewable energy solutions." While domestic demand remains robust, Polycab is increasingly focusing on exports as a strategic growth lever. The company has expanded its international footprint to 94 countries from 48 countries in FY19 and has re-established its distribution network in the United States, one of the world's largest electrical infrastructure markets. "Exports is actually going to be a big lever of our growth going forward," Yagnick said. "In the last three to four months, we've re-established our distribution network in the United States. United States forms around 15% to 20% of the global export market." The company sees significant opportunities emerging from ageing electricity infrastructure in developed markets, particularly as countries invest in grid upgrades to accommodate renewable energy and rising electricity demand. "If you look at EU, if you look at US, all of these regions have grid infrastructure which is way beyond the average life. They are 50-55 years, 60 years old. So all of these need modification," Yagnick said. "Considering our scale, our approvals and our deep penetration in these geographies, we are at pole position to capture the growth." Management also indicated that North America is expected to remain a key export growth driver, alongside Europe and South America. North America contributed nearly 40% of Polycab's export revenues in FY26, while South America accounted for about 20%. The export push comes as the company continues to benefit from India's ongoing power and renewable energy investment cycle. Polycab highlighted strong participation in sectors such as renewable energy, transmission and distribution infrastructure, manufacturing and data centres, which are expected to drive long-term demand for cables and electrical products. The company remains particularly bullish on the power sector, citing record capacity additions and growing investments in tra
2026-06-17 · Saur Energy
policy
Bondada Bags ₹1,338-Crore NTPC Renewable Energy Contract in UP
Bondada Bags ₹1,338-Crore NTPC Renewable Energy Contract in UP Photograph: (Archive) Bondada Engineering Ltd has secured a ₹1,338-crore engineering, procurement and construction (EPC) contract from NTPC Renewable Energy Ltd (NTPC REL) for a 250 MW solar photovoltaic project integrated with a 50 MW/200 MWh battery energy storage system (BESS) in Uttar Pradesh. The project, located in Sitapur district, is scheduled for execution within 18 months and marks one of the company's largest renewable energy wins to date. With the latest order, Bondada's solar EPC order book has expanded to around 5.5 GWp, while its battery energy storage portfolio has grown to approximately 1.1 GWh, strengthening revenue visibility and reinforcing its position in the fast-growing solar-plus-storage segment. The project is part of NTPC REL's efforts to scale utility-scale renewable energy capacity while integrating storage systems to improve grid reliability and enable greater renewable energy penetration. Commenting on the development, Dr Bondada Raghavendra Rao, Chairman and Managing Director of Bondada Group, said the order reflects growing confidence in the company's project execution capabilities. "We are delighted to receive this significant order from NTPC Renewable Energy Limited. The award is a testament to our team's engineering excellence, execution capabilities and unwavering commitment to supporting India's clean energy ambitions," Rao said. He added that as renewable energy deployment increasingly integrates with storage technologies, the project would further strengthen the company's position in the evolving energy transition ecosystem. "As renewable energy increasingly integrates with advanced energy storage solutions, this project further strengthens our position in the rapidly evolving energy transition ecosystem," he said. The order comes at a time when solar-plus-storage projects are gaining momentum in India as developers and utilities seek to improve renewable energy dispatchability and support round-the-clock power supply. Bondada said the contract is expected to contribute significantly to future revenues and profitability while enhancing its credentials across both solar EPC and battery energy storage segments. The Hyderabad-based infrastructure company operates across renewable energy, telecom and railway sectors and has been expanding its presence in utility-scale renewable energy projects amid rising investments in solar generation and energy storage infrastructure.
2026-06-17 · Saur Energy
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India Needs 10 GWh of BESS to Prevent Renewable Energy Curtailment: Ember
India Needs 10 GWh of BESS to Prevent Renewable Energy Curtailment: Ember Photograph: (Archive) India needs around 10 GWh of battery energy storage capacity immediately to prevent renewable energy curtailment caused by the operational limitations of coal-fired power plants, according to a new analysis by energy think tank Ember. The report estimates that India curtailed nearly 2.1 TWh of renewable energy during FY26 because coal-fired generating units could not reduce output below their minimum technical load (MTL), forcing grid operators to cut solar and wind generation despite available clean power. According to Ember, the curtailed renewable generation was equivalent to around 1.3% of India's total renewable electricity output during the year. The analysis suggests that a battery fleet of around 10 GWh, charged during periods of peak solar generation, would have been sufficient to absorb the excess power and avoid the curtailment. "Solar and wind curtailment is becoming a visible part of India's real-time grid balancing, and the volumes are already noticeable and rising," said Neshwin Rodrigues, Senior Energy Analyst at Ember and author of the report. "Without sufficient flexibility, including storage, this could become a constraint on the next phase of renewable energy growth," he added. The report highlights how India's rapidly expanding solar fleet is placing growing pressure on a power system that still relies heavily on coal for flexibility and reserve services. As solar generation peaks during the middle of the day, coal plants are increasingly being forced to ramp down to their lowest operating levels before ramping back up in the evening when solar output declines. On March 6, 2026, solar and wind together accounted for 41% of India's generation mix during midday hours, forcing coal generation to fall by nearly 49 GW within six hours before climbing by 51 GW later in the day as renewable output dropped, according to the report. "Coal was built for sustained high output, not this daily deep cycling," Rodrigues said. The study found that once coal plants reach their minimum technical load—typically around 55% of rated capacity—they lose the ability to provide additional downward flexibility. As a result, renewable generation must be curtailed to keep thermal units operating safely. By April 2026, coal plants were breaching their minimum operating threshold in more than half of all midday dispatch intervals, the report noted. During the month, renewable energy curtailment accounted for 37% of all down-regulation requirements, compared with almost zero a year earlier. "This is curtailment required purely to keep coal plants at their MTL," Rodrigues said. "Before the system even considers reserve requirements or grid constraints, renewable generation is being cut simply to make space for coal to remain operable. The constraint is structural." The report comes as India's solar capacity continues to expand rapidly. The country added
2026-06-17 · Saur Energy
market
Eiffel Investment Group to Acquire 50% Stake in Solar and Storage Portfolio
The projects are in development stage, with first ones planned to reach ready-to-build status in 2028 Follow Mercom India on WhatsApp for exclusive updates on clean energy news and insights Eiffel Investment Group, an independent asset manager, through its infrastructure funds, has agreed to acquire a 50% interest in a Norwegian portfolio from Landinfra Energy, a Nordic renewable energy developer. The company focuses on large-scale renewable energy and infrastructure projects covering onshore wind, offshore wind, energy storage, hydrogen, eFuels, and industrial projects. Both companies have entered into an agreement to develop the portfolio jointly. Under the agreement, Landinfra will retain the remaining 50% stake. The portfolio comprises four projects located in the NO1 price area, with an aggregate planned capacity of approximately 886 MW of solar power and 177 MW of co-located battery storage. The projects are in development. The first projects are planned to reach ready-to-build status in 2028, subject to obtaining all required permits. If fully developed and constructed, the portfolio is expected to represent an investment of more than €700 million (~$810 million) and deliver approximately 900 GWh of renewable electricity annually to Norway’s power system. “We are pleased to expand our successful partnership with Eiffel to include a portfolio of large-scale solar power projects with co-located battery energy storage in Norway. Eiffel is a leading European asset manager with extensive experience from development partnerships and infrastructure financing. Together, we bring the capabilities, experience, and financial strength required to develop new and much-needed renewable electricity generation in NO1,” says Marcus Landelin, CEO and Co-founder of Landinfra. The transaction expands the partnership between Landinfra and Eiffel, announced in April 2024, which covers the joint development of up to 1,800 MW of renewable energy projects in Sweden. Through the expanded partnership, Landinfra and Eiffel plan to combine Landinfra’s project origination and development capabilities in the Nordic region with Eiffel’s financing experience and its work on renewable energy infrastructure development across Europe. According to Mercom’s Q1 2026 Solar Funding and M&A report, approximately 18.4 GW of solar projects were acquired in the first quarter of 2026, compared to 13.6 GW in Q1 2025. In May 2026, SolarAfrica, an independent renewable power producer, signed an agreement to acquire the 315 MW Nyakallo solar and battery storage project in Limpopo, South Africa, from Norsk Renewables, a Norwegian renewable energy project developer. The project is expected to begin evacuating power by the second half of 2028.
2026-06-17 · Mercom India
market
Solar Tracker Startup Vaja Raises $3.5 Million in Seed Funding
The company will use the seed funding for customer installations, product validation, and team expansion Follow Mercom India on WhatsApp for exclusive updates on clean energy news and insights Sweden-based Vaja has raised €3.1 million (~$3.58 million) in seed funding to support the market entry and validation of its vertical single-axis solar tracking system. The Footprint Firm led the funding round, with participation from node.vc. The latest funding brings Vaja’s total capital raised to date through equity investment and grants to €6 million (~$6.94 million), according to the company. Vaja said it will use the proceeds to deploy its solar tracking technology across customer installations, advance its core tracking technology, and expand its team. The company’s vertical single-axis tracking system, VajaTrack, is designed for solar projects in higher latitude regions. According to Vaja, the technology can generate 25% to 50% higher revenue than fixed-mount installations across Europe, most of North America, and large parts of Asia. The company attributed the increase to higher energy output and the ability to capture electricity generation during morning and evening hours, when prices may be higher. “Vaja is a pioneer for vertical solar tracking technology, a much-needed innovation that harnesses significantly more solar energy across more of the day and year for a significant part of the world,” said Henrik Eskilsson, CEO of Vaja. “Over the next decade, we believe that vertical solar tracking can emerge as the dominant form of solar installation beyond 30° latitude, just as horizontal solar tracking has become the standard near the equator.” Vaja said the technology could help increase solar yields in northern latitudes and support domestic renewable energy generation in Europe. The company is also opening additional installation slots for 2026 and accepting reservations for agricultural installations and pilot projects with professional solar farm developers. Global VC funding for the solar sector in Q1 2026 came to $1.1 billion in 17 deals, a 21% decrease YoY compared to $1.4 billion raised in 14 deals in Q1 2025, according to Mercom’s Q1 2026 Solar Funding and M&A report. Funding increased 74% QoQ compared to the $606 million raised in 20 deals in Q4 2025. Previously, in 2026, Invertix, a startup developing AI-powered software for renewable energy asset management, raised €1.7 million (~$1.97 million) in pre-seed funding. The company said it will use the proceeds to develop its platform, expand its team, and strengthen its commercial presence across Europe.
2026-06-17 · Mercom India
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ACME Solar Commissions 120 MWh of Battery Storage Capacity in Rajasthan
ACME Sun Power’s total commissioned battery storage capacity has reached 1,404.32 MWh Follow Mercom India on WhatsApp for exclusive updates on clean energy news and insights Gurgaon-based independent power producer ACME Solar Holdings has commissioned an additional 33.331 MW/120.384 MWh of battery energy storage capacity in Badi Sid village, Rajasthan, through its wholly owned subsidiary, ACME Sun Power. ACME aims to commence operations of the newly commissioned capacity by June 14, 2026. Following the commissioning, ACME Sun Power’s total commissioned battery storage capacity has reached 300 MW/1,404.32 MWh. Recently, ACME Solar completed a ₹28 billion (~$293.47 million) qualified institutional placement (QIP), its first equity capital raise since its 2024 listing. The company said it will use the proceeds from QIP to reduce leverage and strengthen its balance sheet. As of this March, ACME Solar has cumulatively commissioned 155 MW/470.25 MWh of battery storage projects in Rajasthan. ACME has a portfolio of 8,071 MW of projects, including around 17 GWh of battery storage installations and 6,270 MW of signed power purchase agreements (PPAs). The company commissioned a 2.3 GWh battery storage project, which delivers a net realization of ₹22 million (~$233,000)/day. Out of the 5,081 MW of projects under construction in the financial year 2026, ACME has signed PPAs for 3,280 MW. The company has set a target of adding 10 GW of generation capacity and 20 GWh of battery storage capacity by 2030. In February 2026, ACME won 301 MW at a tariff of ₹6.28 (~$0.0695)/kWh under the Solar Energy Corporation of India’s auction for the assured peak supply of 4,800 MWh of FDRE from ISTS-connected projects with co-located energy storage systems. ACME Solar Holdings commissioned 142.67 MW/481.49 MWh battery storage projects in Rajasthan through its subsidiaries. This storage capacity is part of the first phase of the company’s planned total of 585 MW/2,011.24 MWh battery storage projects. India added nearly 547 MWh of battery energy storage capacity in 2025, around 26% year-over-year increase from over 433 MWh, according to the newly released 2H & Annual 2025 India’s Energy Storage Landscape Report by Mercom India Research.
2026-06-17 · Mercom India

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