Mercom Research Focus
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Solar Sector Records 81% Drop in VC Funding in Q1, Corporate Funding Down by 4%

The solar sector secured $8.1 billion in corporate funding through 41 transactions in the first quarter (Q1) of 2024, marking a 4% decrease from the $8.4 billion raised in 42 deals during the same period in 2023. However, there wa...

April 22, 2024

Modules

Swelect, Grew and ReNew Win SECI’s Auction to Supply 400 MW Solar Modules

Swelect Energy Systems, Grew Energy, and ReNew Photovoltaics (ReNew) were declared winners in Solar Energy Corporation of India’s (SECI) auction to manufacture, test, package, forward, supply, and transport 400 MW domestically man...

April 22, 2024

Markets & Policy

Threat of US Anti-Dumping Duties on Indian Solar Module Exports

India’s solar exports success story could run into trouble if the U.S. entertains petitions from domestic manufacturers to impose anti-dumping (AD) and countervailing duties (CVD) on module imports. While the four Southeast ...

April 22, 2024

Energy Storage

Seven Companies in Race for 10 GWh Advanced Chemistry Cells Capacity Under PLI

The Ministry of Heavy Industries’ (MHI) tender to select manufacturers for Advanced Chemistry Cells (ACC) under the Production Linked Incentive (PLI) program has garnered bids seven times more than the 10 GWh capacity to be awarde...

April 23, 2024

Latest News

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Ministry Says GENCOs Can Sell Surplus Power in the Market   

The Ministry of Power has clarified that power stations must always be available and ready to dispatch power according to the Tariff Policy 2016. Power generators can sell surplus power in the power market to best use unutilized generation capacity....

April 23, 2024

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NTPC REL Tenders BoS Package for 1.1 GW Wind Project in Karnataka

NTPC Renewable Energy has invited bids to supply the balance of system (BoS) package for 1.1 GW inter-state transmission system (ISTS)-connected wind power projects in Bijapur, Karnataka (Tranche II). The scope of work includes design, engineering,...

April 23, 2024

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SJVN Green Floats BoS Tender for 400 MW Solar Projects in Maharashtra

SJVN Green Energy (SGEL), a wholly owned subsidiary of SJVN, has rolled out a tender for the supply and installation of Balance of System (BoS) packages, including power evacuation infrastructure and comprehensive operation and maintenance (O&M)...

April 23, 2024

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SECI Invites Bids for 25 MW Solar Project with 50 MWh Storage in Ladakh

Solar Energy Corporation of India (SECI) has invited bids for the design, engineering, supply, construction, erection, testing, commissioning, and operation and maintenance (O&M) of a 25 MW solar power project with a 20 MW/50 MWh battery energy...

April 23, 2024

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Maxeon Files Patent Infringement Claims Against Three Solar Module Makers

Maxeon Solar Technologies, a Singapore-based solar solutions provider, has filed infringement claims against Canadian Solar, REC Solar, and Hanwha for violating three patents relating to the TOPCon (tunnel oxide passivated contact) technology it...

April 23, 2024

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Daily News Wrap-Up: Solar Sector Records 81% Drop in VC Funding in Q1

The solar sector secured $8.1 billion in corporate funding through 41 transactions in the first quarter (Q1) of 2024, marking a 4% decrease from the $8.4 billion raised in 42 deals during the same period in 2023. However, there was a 47% increase in...

April 23, 2024

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IREDA’s Profits Surge 46% YoY in Q4 FY 2024 as NPAs Drop

Government-owned lender Indian Renewable Energy Development Agency (IREDA) has reported a 45.9 % year-over-year (YoY) increase in profit after tax for the fourth quarter (Q4) of the financial year (FY) 2024 to ₹373.76 million (~$4.4 million) from...

April 22, 2024

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EV Logistics Firm BluWheelz Raises $1 Million in Bridge Funding

BluWheelz, a tech-enabled logistics firm with an electric vehicle (EV) fleet, received $1 million in a bridge funding round led by Venture Catalysts, an integrated incubator. The other participants in the investment round included FAAD, LetsVenture,...

April 22, 2024

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Solar Module Manufacturer Premier Energies Files DRHP for ₹15 Billion IPO

Telangana-based solar cell and module manufacturer Premier Energies has filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India to raise over ₹15 billion (~$179.91 million) through an initial public...

April 22, 2024

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