Mercom Research Focus
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VGF, LCOS, and the Changing Economics of Battery Storage in India

Bid prices in the battery energy storage system (BESS) market are declining sharply, driven by viability gap funding (VGF) support and intense competition. While VGF has reduced upfront project costs, it has also spurred aggressiv...

February 9, 2026

Modules

Solar Module Capacity Under ALMM Jumps to 162 GW

The Ministry of New and Renewable Energy (MNRE) has expanded the Approved List of Models and Manufacturers (ALMM) by adding 17,268 MW of solar module capacity. The cumulative module manufacturing capacity under ALMM now stands at ...

February 9, 2026

Grid

Transmission Line Additions in 9M FY 2026 Meet Less Than Half the Target

India achieved 5,077 circuit kilometers (ckm) of power transmission lines between April and December in the financial year (FY) 2025–26, accounting for 47.5% of the cumulative target of 10,696 ckm set for the period, according to ...

February 9, 2026

Finance and M&A

PFC Acquires Majority Stake in REC, Board Greenlights Merger

Power Finance Corporation (PFC) has acquired 52.63% of the Government of India’s stake in REC Limited, making REC a subsidiary of PFC. The PFC Board took note of the Union Budget 2026–27 announcement proposing the restructuring of...

February 6, 2026

Latest News

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Prostarm Wins South Eastern Railway’s 2 MW Rooftop Solar Auction

Prostarm Info Systems has won South Eastern Railway’s auction to set up 2.059 MW rooftop solar systems under the Santragachi division in Howrah, West Bengal. Prostarm won the project at a contract value of ₹134.3 million (~$1.48 million). The tender...

February 9, 2026

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Andhra Pradesh Directs Monthly Energy Settlement for Rooftop Solar Consumers

The Andhra Pradesh Electricity Regulatory Commission (APERC) has directed all power distribution companies (DISCOMs) in the state to implement monthly energy settlement and billing for solar rooftop prosumers with immediate effect. The Commission...

February 9, 2026

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Bihar Approves Procurement of 190 MW Peak Power from Hybrid Projects

The Bihar Electricity Regulatory Commission (BERC) has approved a proposal by Bihar State Power Holding Company (BSPHCL) to procure 190 MW of assured peak power supply through an interstate transmission system (ISTS)–connected wind–solar hybrid...

February 9, 2026

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Radiance Renewables Raises $100 Million from Danish Fund, FMO

Mumbai-based Radiance Renewables, a clean energy firm backed by Eversource Capital, has raised about $100 million in equity funding from two major international investors — Impact Fund Denmark and the Dutch entrepreneurial development bank FMO....

February 9, 2026

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Uttarakhand Invites Bids to Set Up 16 MW/40 MWh BESS in Haridwar

UJVNL, a Government of Uttarakhand undertaking, has floated a tender to set up a 16 MW/40 MWh battery energy storage system (BESS) at the Pathri substation and hydroelectric project in Uttarakhand’s Haridwar district. The projects will receive...

February 9, 2026

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West Bengal Floats Tenders for 3 MW Rooftop Solar-BESS Projects

The West Bengal Green Energy Development Corporation (WBGEDCL) has issued three engineering, procurement, and construction (EPC) tenders for setting up grid-connected rooftop solar projects with battery energy storage systems (BESS), with a...

February 9, 2026

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West Bengal Floats Tender for 100 MW Solar with 25 MW/100 MWh BESS Project

West Bengal State Electricity Distribution Company (WBSEDCL) has invited bids for the design, engineering, supply, construction, and commissioning of a 100 MW solar power project with a 25 MW/100 MWh battery energy storage system (BESS) at Goaltore...

February 9, 2026

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Daily News Wrap-Up: Union Budget 2026 Pushes for Stable Renewables

The Union Budget 2026 provided a new focus to India’s renewable energy strategy, moving from capacity addition to developing a sustainable, resilient domestic clean energy ecosystem, with energy storage systems as the key pillar. Industry...

February 9, 2026

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