PowerChina Signs EPC Contracts for 426 Wind & Solar Projects, Witnessing Surge in Wind Power Deals in Jan-Feb 2025

India installed 15.3GW of solar capacity in the first quarter of 2026, up 143% year on year and marking its highest quarterly addition on record. Utility projects accounted for 12.6GW, or 82% of total additions. Based on SMM research, the strong growth was mainly driven by project rush ahead of the June ALMM-II implementation, faster rollout of PM-KUSUM rural and agricultural solar projects, and concentrated grid connection before the phased reduction of ISTS transmission charge waivers.

Australian renewable energy developer Genex plans to reconfigure Stage 1 of its 2.5GW Bulli Creek Clean Energy Park in Queensland, reducing the solar component from 775MW to 300MW while adding a 425MW/1.7GWh battery energy storage system. The hybrid project, located around 275km west of Brisbane, is scheduled to begin construction in 2028 and may serve as a blueprint for the following three stages. Genex said the project review has delayed progress, but local stakeholders remain supportive. The company has also committed up to AUD 500,000 to support the redevelopment of a community hub in Millmerran.

Q.ENEST Holdings has completed a JPY 9 billion syndicated loan arranged by SMBC to fund an 80MW portfolio of low-voltage distributed PV assets across Japan. The financing was structured through an SPC and will be drawn down in stages over around one year as assets are acquired, with the first drawdown covering existing plants. Q.ENEST Denki, the group’s retail power unit, will act as the offtaker, supplying fixed-price green electricity to residential and corporate customers. The deal highlights growing financing interest in Japan’s distributed PV assets, supported by integrated generation, retail offtake and hedging models.