Mercom Research Focus
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Oriano, Waaree, Prozeal: Leading Solar EPC Companies in 2023

Oriano, Waaree Renewable Technologies, Prozeal Green Energy, Tata Power Solar, and Gensol Engineering emerged as the top utility-scale solar engineering, procurement, and construction (EPC) service providers in the calendar year (...

May 10, 2024

Mercom Research Focus

India Added 1.2 GW Wind Capacity in Q1 2024, 56% YoY Increase

India added 1.2 GW of new wind energy capacity in the first quarter (Q1) of 2024, a 56% YoY surge from 737.9 MW, according to Mercom India Research. The cumulative wind capacity as of March 2024 stood at 45.9 GW, compared to 44.7 ...

May 9, 2024

Markets & Policy

Delhi High Court Quashes CBIC’s Revocation of Duty Deferment for Solar Projects

The Delhi High Court has quashed a Customs Department circular and show cause notices issued by the Central Board of Indirect Taxes and Customs (CBIC) revoking the permission for solar developers to warehouse imported solar module...

May 8, 2024

Market & Policy

CERC Orders Compensation to Azure for Bird Diverters Installed in GIB Region

The Central Electricity Regulatory Commission (CERC) has issued an order directing Solar Energy Corporation of India (SECI) and distribution companies to compensate Azure Power‘s special purpose vehicle companies, Azure Powe...

May 8, 2024

Latest News

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Grew Energy to Build 3.2 GW Solar Module Facility in Jammu & Kashmir

Grew Energy, a renewable energy venture of the Chiripal Group, announced plans to set up a 3.2 GW solar module manufacturing facility in Kathua, Jammu & Kashmir. The company will invest ₹45 billion (~$ 538.8 million) to establish the fully...

May 10, 2024

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East Central Railway Invites Bids for 1.1 MW Rooftop Solar Projects

East Central Railway has invited bids to empanel agencies to implement 1.1 MW rooftop solar projects for the Samastipur division. The last date for submitting bids is June 10, 2024. Bids will be opened the same day. The selected solar power...

May 10, 2024

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First Solar’s Thin Film Modules Approved for Use in DCR Solar Projects

The Ministry of New and Renewable Energy (MNRE) has approved the use of thin film solar modules produced at First Solar’s (FS India Solar Ventures) vertically integrated solar manufacturing facility in Tamil Nadu in projects that have a...

May 10, 2024

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THDC Invites Bids for 600 MW-2,000 MW Pumped Storage Projects

THDC India has invited bids for the development of 600 MW to 2,000 MW on/off stream pumped storage projects on a turnkey basis with operation and maintenance for 15 years in various states in India. The last date for the submission of bids is May 13,...

May 10, 2024

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India Now Third Largest Solar Power Producer But Emissions Rise in 2023: Report

India’s power sector emissions rose 7.2% in 2023 from the previous year as a decline in hydropower generation due to droughts, particularly in the second half of the year, offset gains from wind and solar output, according to a report from...

May 10, 2024

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Flux Power’s Q3 Net Loss Up 83% YoY as Operating Expenses Rise

Lithium-ion storage solutions provider Flux Power Holdings’ net loss for the third quarter (Q3) of the financial year (FY) 2023-24 widened 83% year-over-year (YoY) to $2.64 million on higher operating and interest expenses. The adjusted...

May 10, 2024

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Researchers Strategize Reduction of Water Use in Solar Cell Manufacturing

In a recent paper published in Solar Energy, researchers said they collected data from a solar cell factory to develop and evaluate water recycling strategies in the manufacture of solar Passivated Emitter and Rear Cells (PERC). A team of...

May 10, 2024

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Array Technologies Swings to Q1 Loss as Lower Prices Bite

Array Technologies, a utility-scale solar tracker supplier, reported a net loss of $11.3 million in Q1 2024 from a net income of $17.2 million in the same quarter last year due to lower sales and declining average selling prices. Revenue came in at...

May 10, 2024

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Canadian Solar’s Q1 Profits Dip 85% on Lower Module Demand and Prices

Solar module manufacturer Canadian Solar posted a net income of $12.35 million in the first quarter (Q1) of 2024, an 85.25% year-over-year (YoY) drop from $83.71 million as the company continued to tackle pricing pressures in light of lower module...

May 10, 2024

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SMA Solar Net Income Plunges 44.8% YoY in Q1 2024 on Increased Costs

Germany-based solar energy equipment supplier SMA Solar Technology reported a net income of €28.5 million (~$30.6 million), down by 44.8% YoY from €51.7 million (~$55.6 million) in Q1 2023. Earnings before interest, taxes, depreciation, and...

May 10, 2024

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