The latest renewable energy news includes announcements on ARRAY Technologies, Shoals, Candi Solar, Pentagreen Capital, WBS Power, and others.
ARRAY Technologies and Shoals Announce $1.32 Billion Merger, Target $2.4 Billion Revenue in 2027
ARRAY Technologies and Shoals Technologies Group announced an all-stock merger on November 4, valuing Shoals at approximately $1.32 billion. Shoals shareholders will receive 1.6931 ARRAY shares for each share held and are expected to own approximately 65 percent of the combined company. The companies forecast 2027 revenue of $2.2 billion–$2.4 billion and adjusted EBITDA of $410 million–$480 million. Management expects annual EBITDA synergies exceeding $100 million within three years, including approximately $35 million during the first year. The companies have supplied equipment for more than 250 GW of projects. The merger is expected to close in the first quarter of 2027, subject to shareholder and regulatory approvals.
Candi Solar and Pentagreen Capital Announce $50 Million Financing for 400 MW Solar and Battery Projects in India
Candi Solar and Pentagreen Capital announced a $50 million financing partnership on November 5 to support 400 MW of solar and battery storage installations across India. The projects will include rooftop solar, ground-mounted photovoltaic installations and open-access solar systems integrated with battery storage. The portfolio is expected to generate 560 GWh of renewable electricity annually, serving 227 commercial and industrial customers. Approximately 78 percent of the customers are small and medium-sized enterprises. Candi Solar has contracted more than 340 MW across over 185 installations and has secured more than $200 million in cumulative financing. The company aims to increase its contracted capacity beyond 1 GW within 24 months.
WBS Power Secures PLN 48 Million Financing for 29 MWp Solar and 45 MWh Battery Projects in Poland
Polish energy infrastructure developer WBS Power has secured PLN 48 million, approximately $12.3 million, in debt financing from CVI. The financing, announced November 5, will support construction of two hybrid renewable-energy projects in Poland. The developments will combine 29 MWp of solar photovoltaic capacity with battery energy storage systems providing 10 MW of discharge capacity and 45 MWh of storage. The financing covers two separate solar-plus-storage developments rather than a single installation. The projects add battery capacity alongside photovoltaic generation within WBS Power’s Polish portfolio. Individual project locations, construction completion dates, equipment suppliers and power purchase arrangements were not disclosed in the verified announcement information.
India Auctions 12 GW Renewable Energy Capacity in Q3 2026, Battery and Hybrid Projects Account for 45.2 Percent
Indian government agencies auctioned approximately 12 GW of renewable-energy capacity during the third quarter of 2026, according to procurement data released November 5.
Wind projects accounted for 3.2 GW, followed by battery storage at 2.8 GW, hybrid renewable-energy projects at 2.5 GW, manufacturing at 1.9 GW and utility-scale solar at 1.2 GW. Rooftop solar accounted for 51.2 MW. Battery storage and hybrid projects represented 45.2 percent of total auctioned capacity. Agencies also issued tenders covering 21 GW during the quarter. Across the first nine months of 2026, renewable-energy auction capacity reached approximately 28 GW.