CERC Rejects Plea to Approve Tariff for 300 MW Wind-Solar Projects

MHI Announces Demand Incentives for Electric Trucks Under PM E-Drive

RECPDCL Signs Agreements for Installing 3.32 Million Smart Meters in Gujarat

Rajasthan Commission Approves Tariffs for 82 MW Solar Projects Under KUSUM

Karnataka Sets Benchmark Tariff of ₹3.07/kWh for MW-Scale Solar Projects

Daily News Wrap-Up: MNRE Clarifies ALMM Norms for Behind-the-Meter Projects

REMCL Floats Tender for 3 MW Solar Project in Noida

JK Tyre to Source 5 MW of Renewable Energy from STTY RE

MNRE Issues Clarifications on ALMM Mandate for Behind-the-Meter Projects

Himachal Electricity Regulator Finalizes Resource Adequacy Framework Regulations


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					</table><p>The Ministry of New and Renewable Energy <a href="https://www.mercomindia.com/mnre-issues-clarifications-on-almm-mandate-for-behind-the-meter-projects" target="_blank" rel="noopener">clarified</a> that behind-the-meter projects for captive consumption by government entities or public sector enterprises must use solar modules from the Approved List of Models and Manufacturers (ALMM). However, these projects are exempt from using ALMM-compliant cells if they were commissioned before June 1, 2026. Projects commissioned after this deadline must use ALMM-listed modules and cells.</p>
<p>The Ministry of Petroleum and Natural Gas <a href="https://www.mercomindia.com/petroleum-ministry-amends-subsidy-terms-for-compressed-biogas-machinery" target="_blank" rel="noopener">amended</a> the disbursal pattern of financial assistance for compressed biogas (CBG) projects to procure biomass aggregation machinery. According to the amendments, CBG plants utilizing more than 50% biomass as feedstock for a two-ton-per-day capacity project are eligible for financial support of ₹9 million (~$104,970). All existing and upcoming CBG projects must use at least 50% or a minimum of 3,000 MT of biomass as feedstock annually to avail themselves of the subsidy.</p>
<p>The Himachal Pradesh Electricity Regulatory Commission <a href="https://www.mercomindia.com/himachal-pradesh-regulator-finalizes-resource-adequacy-framework-regulations" target="_blank" rel="noopener">finalized</a> its Resource Adequacy Framework Regulations, 2025. These regulations aim to ensure that the state’s generating companies, distribution licensees, distribution companies, and load dispatch centers contract sufficient electricity generation capacity to meet peak demand reliably, cost-effectively, and sustainably. The draft regulation was released in February this year. The regulations provide a legal mandate for demand forecasting, capacity planning, and power procurement.</p>
<p>The Uttar Pradesh Electricity Regulatory Commission <a href="https://www.mercomindia.com/uperc-approves-tariff-of-%E2%82%B93-84-kwh-for-300-mw-wind-solar-project" target="_blank" rel="noopener">approved</a> a tariff of ₹3.84 (~$0.044)/kWh for the procurement of 300 MW of wind-solar hybrid power by Noida Power Company. The Commission also approved the power purchase agreement signed between NPCL and Deshraj Solar Energy, the special purpose vehicle of Purvah Green Power, the winning bidder in the competitive process for procuring the wind-solar hybrid power.</p>
<p>Telangana Renewable Energy Development Corporation <a href="https://www.mercomindia.com/telangana-invites-bids-to-solarize-16840-irrigation-pumps-under-kusum" target="_blank" rel="noopener">issued</a> a tender to solarize 16,840 irrigation pumps with a total capacity of 126.3 MW under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM KUSUM) across 81 villages in the state. Bids must be submitted by July 24, 2025. Bids will be opened on July 29. The total capacity should be installed within 180 days from the date of the work order’s issuance.</p>
<p>The Telangana Renewable Energy Development Corporation <a href="https://www.mercomindia.com/telangana-invites-bids-to-set-up-81-mw-rooftop-solar-projects" target="_blank" rel="noopener">invited</a> bids to set up rooftop solar power projects with a cumulative capacity of 80.69 MW in 80 villages. Bids must be submitted by July 24, 2025. Bids will be opened on July 29. The project will be divided into four clusters: Bonakal Mandal, Kodangal Mandal, Telangana State Northern Power Distribution Company, and Telangana State Southern Power Distribution Company. The scope of work encompasses the design, supply, installation, and commissioning of the solar projects. It also entails comprehensive maintenance for five years.</p>
<p>JK Tyre will <a href="https://www.mercomindia.com/jk-tyre-to-source-5-mw-of-renewable-energy-from-stty-re" target="_blank" rel="noopener">procure</a> power from STTY RE’s 5 MW solar project for 25 years in captive mode. The tyre company’s board approved an investment of ₹12.2 million (~$142,570) to acquire 26% of the equity shares of STTY RE, enabling it to procure power as a captive user. The full capital expenditure of ₹155.9 million (~$1.82 million) for the project will be borne by STTY RE. STTY RE was incorporated on March 8, 2025. In its 2024 annual report, JK Tyre stated that 40% of its energy consumption came from renewable sources.</p>
<p>NLC India <a href="https://www.mercomindia.com/nlc-india-to-invest-%E2%82%B916-3-billion-in-renewables-subsidiary" target="_blank" rel="noopener">granted</a> an in-principle approval to invest up to ₹16.3 billion (~$190 million) in one or more tranches in its wholly owned subsidiary, NLC India Renewables (NIRL). This investment will be utilized to support NIRL’s renewable energy projects via capital expenditure funding. The investment will be made by subscribing to 100% equity shares in NIRL at their face value. The related-party transaction is subject to approvals from the Department of Investment and Public Asset Management and other relevant authorities.</p>
<p>The U.S. Department of Energy (DOE) <a href="https://www.mercomindia.com/power-outages-us-could-surge-100x-by-2030" target="_blank" rel="noopener">warned</a> that power outages could increase 100 times by 2030 if the country continues to shutter reliable power sources and fails to add additional firm capacity. The retirement of firm power capacity is exacerbating the resource adequacy challenge, with 104 GW of firm capacity expected to retire by 2030, according to the DOE’s Report on Evaluating U.S. Grid Reliability and Security. The report follows President Donald Trump’s executive order in April this year, which directed the DOE to establish a uniform methodology for identifying at-risk regions and guide federal reliability interventions.</p>



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					</table><p><a title="https://www.nlcindia.in/website/en/" href="https://www.nlcindia.in/website/en/" target="_blank" rel="noreferrer noopener">NLC India</a> has granted an in-principle approval to invest up to ₹16.3 billion (~$190 million) in one or more tranches in its wholly owned subsidiary, NLC India Renewables (NIRL).</p>
<p>This investment will be utilized to support NIRL’s renewable energy projects via capital expenditure funding.</p>
<p>The investment will be made by subscribing to 100% equity shares in NIRL at their face value.</p>
<p>The related-party transaction is subject to approvals from the Department of Investment and Public Asset Management and other relevant authorities.</p>
<p>In addition to the equity investment in its renewables arm, NLC India’s board also approved borrowing a term loan in Japanese Yen equivalent to $100 million from Sumitomo Mitsui Banking Corporation to fund clean energy projects.</p>
<p>NLC India, a public sector enterprise under the Ministry of Coal, operates 1,431.26 MW of renewable energy capacity, comprising a mix of ground-mounted solar, rooftop solar, floating solar, and wind power projects. The company has set a target to install 10.11 GW of solar capacity by 2030.</p>
<p>Recently, NLC India Renewables <a href="https://www.mercomindia.com/nlc-and-mahapreit-join-hands-to-develop-5-gw-renewable-energy-projects" target="_blank" rel="noopener">signed</a> a joint venture agreement with Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) to develop 5,000 MW of renewable energy projects in Maharashtra. These projects will span solar, wind, hybrid systems, floating solar, battery energy storage systems, and pumped storage, with an initial focus on developing 500 MW in the first phase. The joint venture company will be structured with NLC India Renewables holding 74% equity and MAHAPREIT holding the remaining 26%.</p>
<p>In May this year, NLC India <a href="https://www.mercomindia.com/nlc-india-floats-epc-tender-for-5-mw-solar-projects-in-three-states" target="_blank" rel="noopener">invited</a> bids for the engineering, procurement, and construction of grid-connected solar projects with a cumulative capacity of 5 MW. The total capacity is divided into a 4 MW rooftop and a 1 MW floating solar component.</p>
<p>In March, NLC India <a href="https://www.mercomindia.com/nlc-india-4-mw-green-hydrogen-project" target="_blank" rel="noopener">invited</a> bids to commission a 4 MW proton exchange membrane electrolyzer-based green hydrogen project at Neyveli, Tamil Nadu.</p>


NLC India to Invest ₹16.3 Billion in Renewables Subsidiary


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					</table><p>The Uttarakhand Electricity Regulatory Commission <a href="https://www.mercomindia.com/uerc-rejects-plea-to-relax-rooftop-solar-cap-net-metering" target="_blank" rel="noopener">rejected</a> a petition seeking permission to install an additional 600 kW rooftop solar system under the net metering arrangement as the proposed expansion would have raised the total capacity to 1.6 MW, surpassing the 1 MW cap set by the Renewable Energy Regulations, 2023. The Commission held that relaxing the ceiling for net metering was neither justified nor prudent. It ruled that two types of net metering arrangements under the same electricity connection number could not be permitted.</p>
<p>Energy storage and green hydrogen are crucial for <a href="https://www.mercomindia.com/accelerating-indias-net-zero-strategy-with-energy-storage-and-green-hydrogen" target="_blank" rel="noopener">mitigating</a> the intermittency of renewable energy sources, such as solar and wind, thereby enabling a continuous power supply and enhancing grid reliability. These issues will be discussed in depth at the fifth edition of the Mercom India Renewables Summit, set to take place on July 24-25, 2025, at the Hyatt Regency, New Delhi. A key session during the summit on July 24, titled “Energy Storage and Green Hydrogen: The Missing Links in India’s Renewable Energy Transition,” will address the urgent need for scalable energy storage solutions and the development of a robust green hydrogen ecosystem.</p>
<p>The Rajasthan Electricity Regulatory Commission <a href="https://www.mercomindia.com/rajasthan-regulator-approves-tariffs-for-229-mw-solar-projects-under-kusum" target="_blank" rel="noopener">approved</a> the levelized tariffs determined through a competitive bidding process conducted by the Jaipur Vidyut Vitran Nigam for 78 solar projects with a total capacity of 228.85 MW. These projects are implemented under Component C (feeder-level solarization) of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM). The approved tariffs range from ₹2.78 (~$0.032)/kWh to ₹3.04 (~$0.035)/kWh.</p>
<p>Government-owned coal mining company Singareni Collieries Company <a href="https://www.mercomindia.com/singareni-collieries-floats-om-tender-for-5-mw-floating-solar-project" target="_blank" rel="noopener">invited</a> bids for the operation and maintenance of a 5 MW floating solar power project at the Singareni Thermal Plant’s water storage reservoir for eight years. Bids must be submitted by July 28, 2025. Selected bidders must undertake the maintenance and troubleshooting work for the project. Its downtime must not exceed 48 hours from the time the faults occur. The scope of work also entails operating grid interfaces, managing curtailments, adjusting settings such as power factor or other ancillary services, and logging operational data for periodic processing.</p>
<p>The New and Renewable Energy Development Corporation of Andhra Pradesh <a href="https://www.mercomindia.com/andhra-pradesh-tenders-1-2-gw-rooftop-solar-projects-under-pm-surya-ghar" target="_blank" rel="noopener">issued</a> a request for selection to implement 1,198.21 MW of grid-connected rooftop solar projects for 599,105 scheduled caste and scheduled tribe consumers under the PM Surya Ghar: Muft Bijli Yojana. Bids must be submitted by August 5, 2025. Bids will be opened on August 6. The scope of work entails the design, engineering, supply, transportation, installation, erection, testing, and commissioning of the solar projects.</p>
<p>NTPC Green Energy <a href="https://www.mercomindia.com/ntpc-green-issues-om-tender-for-160-mw-solar-project" target="_blank" rel="noopener">invited</a> bids for the operation and maintenance of a 160 MW solar project at Jetstar, Rajasthan for two months. Bids must be submitted by July 9, 2025. Bids will be opened on the same day. The scope of work entails module cleaning and cutting and disposal of grass and bushes from the 840-acre project area. It also includes the 24/7 watch and ward of the project. If any theft occurs during the contract period, it will be the selected bidder’s liability to restore or recoup the material.</p>
<p>The Multi Commodity Exchange of India, a commodity derivatives and options exchange, will <a href="https://www.mercomindia.com/mcx-to-start-electricity-futures-trading-from-july-10-2025" target="_blank" rel="noopener">launch</a> electricity futures contracts from July 10, 2025, enabling power producers, distributors, and large power consumers to manage risks associated with price volatility. The exchange had received approval from the Securities and Exchange Board of India in June to launch electricity derivatives. Electricity futures are financial instruments that derive their value from electricity prices and are primarily used for hedging, speculation, or arbitrage.</p>
<p>Nagpur-based WorldOne Energies <a href="https://www.mercomindia.com/worldone-energies-to-set-up-1-gw-solar-module-facility-in-canada" target="_blank" rel="noopener">announced</a> plans to establish a 1 GW solar module manufacturing facility in Ontario, Canada. The move is a part of the company’s strategy to meet growing international demand for solar modules and build cross-border partnerships. The manufacturing line will manufacture TOPCon bifacial solar modules. WorldOne Energies Co-Founder and CEO Mark Garvin recently met with Maninder Sidhu, Canada’s Federal Minister of Export Promotion, International Trade, and Economic Development, to discuss advancing clean energy ties between Canada and India.</p>


Daily News Wrap-Up: UERC Rejects Plea to Raise Rooftop Solar Net Metering Cap


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					</table><p>The <a href="https://mopng.gov.in/en" target="_blank" rel="noopener">Ministry of Petroleum and Natural Gas</a> has amended the disbursal pattern of financial assistance for compressed biogas (CBG) projects to procure biomass aggregation machinery.</p>
<p>According to the amendments, CBG plants utilizing more than 50% biomass as feedstock for a 2 tons per day (TPD) capacity project are eligible for a financial support of ₹9 million (~$104,970).</p>
<p>All existing and upcoming CBG projects must use at least 50% or a minimum of 3,000 MT of biomass as feedstock annually to avail of the subsidy.</p>
<p>CBG plants utilizing less than 50% biomass as feedstock, but more than 3,000 MT of biomass annually, can receive financial support of ₹9 million (~$104,970) per 3,000 MT of agri-residue requirement.</p>
<p>The Ministry provides financial assistance for a maximum of 50% of the procurement cost of a biomass aggregation machine, up to ₹9 million (~$104,970) per project, whichever is lesser.</p>
<p>The CBG project must have installed or proposed CBG production capacity of at least 2 TPD.</p>
<p>To be eligible for a subsidy, the CBG projects under construction must have achieved at least 25% of their progression. However, at least 50% of the project must be completed before financial assistance is disbursed.</p>
<p>The CBG projects must not have availed of any financial assistance under any other government or state program.</p>
<p>The amendments also state that when applying for financial assistance, CBG producers must specify whether the machinery or equipment is proportional to the collected biomass. They must also list the available machinery and equipment.</p>
<p>After the application for financial assistance is approved, CBG producers can avail of 10% of the financial assistance as a mobilization advance, provided an equivalent bank guarantee is provided. The bank guarantee must be valid for a year. However, the financial aid will be extended per the project management agency’s requirements.</p>
<p>The bank guarantee will be forfeited if the project developers fail to comply with the program guidelines during the project’s execution.</p>
<p>CBG producers can apply for the financial assistance release in a phased manner within two years of receiving approval for their aid application.</p>
<p>Recently, the Ministry of New and Renewable Energy <a href="https://www.mercomindia.com/mnre-introduces-iot-based-monitoring-of-data-under-biomass-energy-program" target="_blank" rel="noopener">revised</a> the guidelines for the National Biomass Program for the financial years 2022 to 2027 (Phase-I). These amendments aim to promote cleaner energy solutions, ease of doing business, and accelerate the adoption of biomass technologies across India.</p>
<p>Subscribe to Mercom’s real-time <a href="https://mercomindia.com/product/mercoms-renewable-energy-regulatory-updates/" target="_blank" rel="noopener">Regulatory Updates</a> to ensure you don’t miss any critical updates from the renewable industry.</p>


Petroleum Ministry Amends Subsidy Terms for Compressed Biogas Machinery


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					</table><p>The U.S. Department of Energy (<a href="https://www.energy.gov/" target="_blank" rel="noopener">DOE</a>) has warned that power outages could increase 100 times by 2030 if the country continues to shutter reliable power sources and fails to add additional firm capacity.</p>
<p>The retirement of firm power capacity is exacerbating the resource adequacy challenge, with 104 GW of firm capacity expected to retire by 2030, according to the DOE’s Report on Evaluating U.S. Grid Reliability and Security.</p>
<p>The report follows President Donald Trump’s executive order in April this year, which directed the DOE to establish a uniform methodology for identifying at-risk regions and guide federal reliability interventions.</p>
<p>The report reveals that existing generation retirements and delays in adding new firm capacity, driven by the “radical” green agenda of past administrations, will lead to a surge in power outages and a growing mismatch between electricity demand and supply, particularly from artificial intelligence (AI)-driven data center growth, threatening America’s energy security.</p>
<p>The DOE found that firm capacity is not being replaced on a one-to-one basis. The loss of this generation could cause major outages, particularly during periods when weather conditions limit wind and solar production.</p>
<p>The report noted that such conditions could lead to a hundredfold increase in power outages by 2030. This increase is measured by the “loss of load hours” (LOLH) metric, which represents the hours in a year when demand exceeds available generation. Another key metric used is the “normalized unserved energy” (NUSE), which quantifies the percentage of total energy demand not met during these outage periods. The DOE uses a reliability threshold of a maximum of 2.4 LOLH per year and 0.002% NUSE.</p>
<p><strong>Coal and Gas Retirements</strong></p>
<p>The anticipated retirements include 71 GW from coal and 25 GW from natural gas. These capacities are projected to be offset by 209 GW of new generation by the end of the decade. However, only 22 GW of that new capacity would come from firm baseload sources. The remainder comprises 31 GW of four-hour battery storage, 124 GW of solar energy, and 32 GW of wind power.</p>
<p>The DOE evaluated three scenarios for 2030. The first, called the “plant closures” case, assumes all planned retirements take place and includes only mature generation additions, which refer to completed, under-construction, or fully contracted projects.</p>
<p>The second, the “no plant closures” case, assumes no retirements and includes the same mature additions.</p>
<p>The third scenario, known as the “required build” case, considers the level of ideal capacity needed to restore the system’s reliability to current levels by 2030. In this scenario, DOE uses the “perfect capacity,” a hypothetical ideal resource that is 100% reliable with no outages or performance issues. This helps estimate the amount of additional firm generation each region would need to meet reliability standards.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Power-outage.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-81797 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Power-outage.png" alt="Power outage" width="752" height="455" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Power-outage.png 752w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Power-outage-300x182.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Power-outage-650x393.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Power-outage-624x378.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Power-outage-600x363.png 600w" sizes="(max-width: 752px) 100vw, 752px" /></a></p>
<p>The report noted that the average year-co-incident peak load is projected to grow from its current average peak of 774 GW to 889 GW by 2030. This represents a 15% increase, equivalent to a 2.3% annual growth rate. Excluding the impact of data centers, this would amount to a 51 GW increase from 774 GW to 826 GW, representing a 1.1% annual growth rate.</p>
<p>According to the report, traditional peak-hour tests to evaluate resource adequacy do not sufficiently account for growing dependence on neighboring grids. At a minimum, modern methods of assessing resource adequacy must incorporate the frequency, magnitude, and duration of power outages, move beyond exclusively analyzing peak load periods, and develop integrated models to enable proper analysis of the increasing reliance on neighboring grids.</p>
<p><strong>Regional Analysis</strong></p>
<p>The Midcontinent Independent System Operator region remained reliable in both the current system and the scenario without project closures, although minimum spare capacity fell below zero, indicating a reliance on imports. In the project closure scenario, the region experienced significant shortfalls, exceeding all reliability limits. Peak electricity demand is expected to grow from 130 GW to 140 GW by 2030, including 6 GW of new data center demand. Capacity drops from 228 GW to 196 GW in the closure case. Coal and natural gas retirements are replaced by solar, wind, and battery storage. The system includes 3 GW of rooftop solar and 8 GW of demand-side flexibility.</p>
<p>The Independent System Operator of New England maintained reliability in all cases. The absence of projected artificial intelligence or data center load helped keep the system stable. Peak demand increases from 28 GW to 31 GW. Installed capacity rises to 45.5 GW without closures and 42.8 GW with closures. Natural gas and oil generation decline as solar, wind, and battery storage grow. The system includes nearly 2 GW of rooftop solar and 1.6 GW of energy storage.</p>
<p>The New York Independent System Operator experienced no major reliability issues in any scenario. Even in the case of plant closures, the average annual hours of load loss and unserved energy remained well below critical thresholds. Peak demand increases slightly from 36 GW to 38 GW, with no additional artificial intelligence or data center load expected. Capacity grows to 51 GW without closures and 50 GW with closures. Natural gas declines, with solar and wind providing most of the new additions. The system includes 6 GW of rooftop solar and nearly 1 GW of demand-side flexibility.</p>
<p>The Pennsylvania-New Jersey-Maryland Interconnection faces the most significant reliability challenges. Even without project closures, the system sees 214 hours of expected annual power outages and peak shortfalls of 17,620 MW. With project closures, outages jump to over 430 hours per year, and unserved energy rises to more than 70 times the acceptable level. The region requires 10,500 MW of additional firm generation by 2030. Peak demand increases from 162 GW to 187 GW, with 15 GW attributed to artificial intelligence and data centers. Capacity reaches 254 GW without closures and 237 GW with closures. Coal and natural gas retirements are largely being replaced by solar energy. The system includes 9 GW of rooftop solar and 7 GW of demand response.</p>
<p>The Southeastern Electric Reliability Council remains mostly reliable. However, its eastern subregion shows growing winter reliability risks. One extreme weather event caused 42 hours of outages. The eastern region needs 500 MW of additional firm capacity by 2030. Regional peak demand increases from 193 GW to 209 GW, with an extra 7.5 GW attributed to data centers. Capacity grows to 279 GW without closures and 260 GW with closures. The energy mix shifts from coal and natural gas to solar and limited storage. Rooftop solar and demand response total 3 GW and 8 GW, respectively.</p>
<p>The Southwest Power Pool experienced growing reliability problems. Without project closures, the average annual outage reaches 48 hours, with shortfalls affecting up to 19% of the demand. With closures, system performance deteriorates, especially in the northern region, which lacks sufficient generation and transmission capacity. To restore reliability, 1,500 MW of additional firm generation is needed by 2030. Peak demand increases from 57 GW to 63 GW, including 1.5 GW from data centers. Capacity reaches 110 GW without closures and 103 GW with closures. Coal and gas retirements are replaced by wind, solar, storage, and some natural gas. There is almost no rooftop solar, and demand response reaches 1.3 GW.</p>
<p>The case in the California Independent System Operator (CAISO) plus remained mostly reliable in all but the project closures case. There, reliability deteriorated during summer evenings when solar declines. Annual outage hours rose to 7, and the worst year saw up to 31% of demand unmet. Unserved energy exceeded accepted limits. Peak demand increases from 79 GW to 82 GW, with an additional 2 GW attributed to data centers. Capacity grows to 131 GW without closures and 123 GW with closures. Coal, gas, and nuclear retirements are offset by the growth of solar and storage. The system includes 10 GW of solar rooftop and less than 1 GW of demand response.</p>
<p>West Non-CAISO performed adequately, but reliability dropped in the plant closures case. Some areas saw outages in up to 20% of hours during the worst year, especially where local resources and transmission were limited. Peak demand increases from 92 GW to 119 GW, with 12 GW from data centers. Capacity grows from 178 GW to 207 GW without closures and 193 GW with closures. The mix shifts from coal and natural gas to solar, wind, and storage. The system includes 6 GW of rooftop solar and over 1 GW of demand response.</p>
<p>The Electric Reliability Council of Texas already exceeds reliability limits in the current system, with 3.8 hours of expected outages and unserved energy above standards. Conditions worsen in both future scenarios, especially in winter. In the case of project closures, outages rise to 45 hours annually, and up to 27% of demand remains unmet in extreme conditions. Texas requires 10,500 MW of additional firm generation by 2030. Peak demand increases from 90 GW to 105 GW, with 8 GW from data centers. Capacity grows from 157 GW to 213 GW without closures and 208 GW with closures. Natural gas and coal retirements are replaced by solar, wind, and storage. The system includes 2.5 GW of rooftop solar and 3.5 GW of demand response.</p>
<p>Trump recently <a href="https://www.mercomindia.com/trump-orders-treasury-to-restrict-wind-and-solar-energy-tax-credits" target="_blank" rel="noopener">signed</a> an executive order directing the Secretary of the Treasury to terminate the clean electricity production and investment tax credits for wind and solar facilities and implement the enhanced foreign entity of concern restrictions identified in the ‘One Big Beautiful Bill’ Act.</p>


Power Outages in US Could Surge 100x by 2030 Due to Resource Gaps: Report


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					</table><p>Energy storage and green hydrogen are crucial for mitigating the intermittency of renewable energy sources, such as solar and wind, thereby enabling a continuous power supply and enhancing grid reliability.</p>
<p>These issues will be discussed in depth at the fifth edition of the <a href="https://www.mercomindia.com/event/renewables-summit-2025" target="_blank" rel="noopener">Mercom India Renewables Summit</a>, set to take place on July 24-25, 2025, at the Hyatt Regency, New Delhi.</p>
<p>A key session during the summit on July 24, titled <strong>“Energy Storage and Green Hydrogen: The Missing Links in India’s Renewable Energy Transition,”</strong> will address the urgent need for scalable energy storage solutions and the development of a robust green hydrogen ecosystem.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-energy-storage-scaled.jpg"><img loading="lazy" decoding="async" class="aligncenter wp-image-81697 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-energy-storage-scaled.jpg" alt="Mercom Summit Energy Storage " width="2560" height="1578" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-energy-storage-scaled.jpg 2560w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-energy-storage-300x185.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-energy-storage-2000x1233.jpg 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-energy-storage-768x474.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-energy-storage-1536x947.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-energy-storage-2048x1263.jpg 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-energy-storage-650x401.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-energy-storage-624x385.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-energy-storage-600x370.jpg 600w" sizes="(max-width: 2560px) 100vw, 2560px" /></a></p>
<p>The panel will feature experts such as Inder Bhambra, Chief Business Officer at <a href="https://www.envision-energy.in/" target="_blank" rel="noopener">Envision Energy India</a>, Shri Venkatesh, Founding Partner at <a href="https://skvlawoffices.com/" target="_blank" rel="noopener">SKV Law Offices</a>, and Bhavesh Kumar Rathod, Founder and Director at <a href="https://www.soleosenergy.com/" target="_blank" rel="noopener">Soleos Solar Energy</a>.</p>
<p>Wendy Prabhu, the Co-Founder of Mercom Capital Group and the President of Mercom Communications, will moderate the session.</p>
<p>Grid-scale energy storage in India is still in its early stages, with only a few large-scale projects currently under implementation. Green hydrogen is viewed as a potential future fuel for sectors that are challenging to decarbonize, such as the steel, cement, and heavy transport industries.</p>
<p>The 60-minute session will examine the role of energy storage in ensuring grid reliability and facilitating the integration of renewable energy into the power mix. It will also explore infrastructure requirements, emerging technologies, and necessary policy interventions to support India’s net-zero goals.</p>
<p>The session will focus on how to decarbonize the target sectors using green hydrogen and the policy frameworks required to accelerate its adoption. The panel discussion will cover the competitive edge India needs to enhance its manufacturing capabilities and deploy energy storage systems, including batteries and hydrogen infrastructure.</p>
<p>The event will include the <a href="https://www.mercomindia.com/awards" target="_blank" rel="noopener">Mercom India Awards</a>, honoring outstanding achievements and the latest technological innovations driving the transformation of India’s energy markets.</p>
<p>Mercom India is also hosting the <a href="https://www.mercomindia.com/event/renewables-summit-2025/exhibitor" target="_blank" rel="noopener">Renewable Energy Exhibition</a> during the Summit. The exhibition will bring together top industry players and decision-makers to showcase their latest products and services.</p>
<p><a href="https://www.mercomindia.com/event/renewables-summit-2025/register" target="_blank" rel="noopener">Register now</a> to attend the event and help shape the future of India’s vibrant renewable energy landscape.</p>


Accelerating India’s Net Zero Strategy with Energy Storage and Green Hydrogen


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					</table><p>India <a href="https://www.mercomindia.com/india-added-341-mwh-of-energy-storage-capacity-in-2024" target="_blank" rel="noopener">installed</a> over 341 MWh of battery energy storage systems (BESS) in 2024, marking an over sixfold increase from the 51 MWh installed in 2023, according to Mercom India Research’s newly released report India’s Energy Storage Landscape. With these additions, India’s total installed battery energy storage capacity stood at approximately 442 MWh as of December 2024. Around 60% of the installed capacity came from solar systems combined with battery storage, 36% from renewable energy integrated with round-the-clock capabilities, approximately 4% from standalone BESS, and the 0.05% of the capacity from floating solar with storage projects.</p>
<p>The Central Electricity Authority <a href="https://www.mercomindia.com/cea-guidelines-propose-weather-stations-in-renewable-energy-projects" target="_blank" rel="noopener">proposed</a> the installation of one automatic weather station for each renewable energy project with a capacity of 50 MW. The proposal is in the context of the need for real-time weather measurement to optimize renewable energy generation, as solar and wind generation depends on weather conditions. Weather forecasting errors have also resulted in renewable energy project developers incurring significant financial penalties under the deviation settlement mechanism.</p>
<p>The Ministry of New and Renewable Energy <a href="https://www.mercomindia.com/mnre-revises-central-financial-assistance-norms-under-pm-surya-ghar-program" target="_blank" rel="noopener">issued</a> amendments to the guidelines for implementing the Central Financial Assistance (CFA) component under the PM Surya Ghar: Muft Bijli Yojana. Under the amendments, the state or union territory government can supplement the CFA provided by the central government with an additional subsidy for rooftop systems. All applications at the redeemed, inspected, and installed stage under Phase II of the rooftop solar program will be eligible for CFA if claims are received by December 31, 2025.</p>
<p>The Gujarat Electricity Regulatory Commission (GERC) <a href="https://www.mercomindia.com/gerc-approves-tariff-of-%E2%82%B92-78-kwh-for-500-mw-solar-power-procurement" target="_blank" rel="noopener">approved</a> the power purchase agreement (PPA) signed between Gujarat Urja Vikas Nigam (GUVNL) and NTPC Renewable Energy (NREL) for procuring 500 MW of solar power at a tariff of ₹2.78 (~$0.032)/kWh. The project will be at the Khavda Renewable Energy Park in Kutch, Gujarat. The case originated from GUVNL’s petition seeking GERC’s approval for a PPA with NREL for 500 MW of solar power.</p>
<p>The GERC <a href="https://www.mercomindia.com/gerc-grants-extension-to30mw-wind-solar-hybrid-project" target="_blank" rel="noopener">granted</a> a 315-day extension for commissioning a transmission line, along with bays and a metering system, to evacuate 30 MW of power from a wind-solar hybrid project in Jafrabad, Gujarat. The petitioner, Imandra Solar, approached the GERC seeking a 120-day extension to commission its hybrid power project, citing multiple unforeseen delays. The project, developed in captive mode, received Stage-II grid connectivity approval on March 12, 2024, to evacuate 30 MW of wind-solar power, with a 12-month deadline to commission the complete evacuation infrastructure. The Commission calculated the extension on its own by including the delays caused by the approval of the standard drawing by GETCO (75 days), the right-of-way delays (142 days), and the change in the Ministry of Defence’s notification (98 days), totaling 315 days.</p>
<p>The Haryana Electricity Regulatory Commission <a href="https://www.mercomindia.com/haryana-regulator-denies-transmission-connectivity-solar-project" target="_blank" rel="noopener">upheld</a> Haryana Vidyut Prasaran Nigam’s order canceling final transmission connectivity for a 50 MW solar power project for failing to prove its captive status. For a solar project to be considered a captive project, the power offtakers must own at least a 26% shareholding and consume at least 51% of the power generated from the captive project. The offtakers must maintain these requirements throughout the operational period to maintain their captive status.</p>
<p>Bharat Heavy Electricals’ manufacturing unit at Ramachandrapuram in Hyderabad <a href="https://www.mercomindia.com/bhel-invites-bids-for-operation-and-maintenance-of-1-5-mw-solar-project" target="_blank" rel="noopener">invited</a> bids for the operation and maintenance of 1.5 MW solar power project for two years. Bids must be submitted by July 17, 2025. Bids will be opened on the same date. The scope of the O&amp;M work entails deploying technical, administrative, and officer personnel, and cleaning modules with water twice a month. It also involves logging of DC, AC, and grid parameters (current, voltage, power, and energy) at the power conditioning unit and high-tension panels.</p>
<p>Solar water pump and motor manufacturer Shakti Pumps <a href="https://www.mercomindia.com/shakti-pumps-qualified-institutional-placement" target="_blank" rel="noopener">raised</a> ₹2.92 billion (~$34.07 million) through a qualified institutions placement (QIP) of shares. The QIP issue was priced at ₹918 (~$11) per share, a 4.97% discount to the Securities and Exchange Board of India floor price of ₹965.96 (~$11.3). The proceeds from the QIP will be utilized to establish a solar cell and module manufacturing facility in Pithampur, Madhya Pradesh, through the company’s subsidiary, Shakti Energy Solutions.</p>
<p>Mumbai-based power infrastructure developer Prostarm Info Systems will <a href="https://www.mercomindia.com/prostarm-to-set-up-1-2-gwh-bess-manufacturing-plant-in-haryana" target="_blank" rel="noopener">establish</a> a 1.2 GWh battery energy storage system (BESS) manufacturing plant at the Reliance Model Economic Township in Jhajjar, Haryana. The facility will be developed at a cost of ₹250 million (~$2.9 million). The company has secured a nine-year land lease for the development of the BESS manufacturing plant. The lease includes a land parcel of 3,912.15 sq m and a covered shed area of 34,000 sq ft.</p>
<p>U.S. President Donald Trump <a href="https://www.mercomindia.com/trump-orders-treasury-to-restrict-wind-and-solar-energy-tax-credits" target="_blank" rel="noopener">signed</a> an executive order directing the Secretary of the Treasury to terminate the clean electricity production and investment tax credits for wind and solar facilities and implement the enhanced foreign entity of concern restrictions identified in the ‘One Big Beautiful Bill’ Act. The Secretary must take all action to strictly enforce the termination of the clean electricity production and investment tax credits under sections 45Y and 48E for wind and solar facilities within 45 days following the enactment of the Budget Reconciliation Bill.</p>
<p>The UK government has published a new solar roadmap <a href="https://www.mercomindia.com/uk-operational-solar-capacity-of-47-gw-2030" target="_blank" rel="noopener">aimed</a> at achieving 47 GW of operational solar capacity by 2030, as set out in the government’s Clean Power 2030 Action Plan. The roadmap notes that removing barriers for rooftop deployment could increase residential rooftop solar to around 10 GW and commercial rooftop solar to more than 10 GW by 2030. Many consumers in the UK are already benefiting from solar power, with over 1.5 million domestic installations.</p>


Daily News Wrap-Up: India Grew Energy Storage Capacity by 341 MWh in 2024


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					</table><p>The Multi Commodity Exchange of India (<a href="https://www.mcxindia.com/" target="_blank" rel="noopener">MCX</a>), a commodity derivatives and options exchange, will launch electricity futures contracts from  July 10, 2025, enabling power producers, distributors, and large power consumers to manage risks associated with price volatility.</p>
<p>The exchange had <a href="https://www.mercomindia.com/mcx-gets-sebi-nod-to-trade-electricity-derivatives">received</a> approval from the Securities and Exchange Board of India <a href="https://www.sebi.gov.in/" target="_blank" rel="noopener">(SEBI)</a> in June to launch electricity derivatives.</p>
<p>Electricity futures are financial instruments that derive their value from electricity prices and are primarily used for hedging, speculation, or arbitrage.</p>
<p>MCX stated that the electricity futures contracts aim to meet the growing demand for structured electricity price risk management instruments.</p>
<p>India’s power sector has until now relied on long-term power purchase agreements to mitigate price volatility. These contracts offer price stability but lack adaptability, as they do not reflect changing supply and demand conditions. The short-term power market, facilitated by power exchanges, has become increasingly unpredictable, posing risks for both generators and consumers.</p>
<p>Electricity future contracts are seen as a potential solution to these challenges.</p>
<p>These contracts will be available throughout the year. Its trading will be initially opened for the current and the following three months. The trades will occur in units of 50 MWh, with the smallest change in price (tick size) of ₹1 (~$0.012)/MWh.</p>
<p>The contracts will be settled in cash, with the amount based on the volume-weighted average of the unconstrained market-clearing price at the Indian Energy Exchange’s Day-ahead market. This will cover all days of the expiry month.</p>
<p>MCX stated that the contract will adhere to SEBI’s daily price limits for market stability. Its initial price slab will be 6% and can be extended to 9%. The contract will have a minimum 10% initial margin requirement or a volatility’ value at risk’ margin, whichever is higher.  The client-level position limits will be capped at 300,000 MWh or 5% of the market-wide open interest, whichever is greater.</p>


MCX to Start Electricity Futures Trading from July 10, 2025


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-opdenergy-secures-412-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Opdenergy, an independent renewable energy producer, has </strong><a href="https://mercomcapital.com/opdenergy-secures-412-million-corporate-debt-facility/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a new corporate debt facility of €350 million (~$412 million)</strong> through senior bonds (2025 Bonds) from a group of institutional investors led by EIG and Infranity. The corporate debt facility will provide additional capital to accelerate the execution of Opdenergy’s business plan, strengthen its position in the renewable energy market, and support its continued expansion as a large-scale Independent Power Producer across Europe, the U.S., and Latin America.</p>
<p><strong>Lyten, a lithium-sulfur battery developer, </strong><a href="https://mercomcapital.com/lyten-acquires-battery-manufacturing-operation-from-northvolt/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the acquisition of Dwa Energy Storage System manufacturing operation in Gdansk, Poland, from energy storage solutions provider Northvolt</strong>. The financial terms of the acquisition have not been disclosed by either party and are expected to close in Q3 2025. The deal includes a 270,000 sq ft manufacturing and R&amp;D facility, which is said to be one of the largest battery manufacturing facilities in Europe, and was part of Northvolt Systems.</p>
<p><strong>ILJIN Electronics, a material subsidiary of Amber Group, has <a href="https://www.mercomindia.com/il-jin-electronics-forays-into-bess-buys-majority-stake-in-power-one" target="_blank" rel="noopener">entered</a> into definitive agreements for a majority stake in India-based Power One Micro Systems.</strong> Power-One offers battery energy storage systems (BESS), solar inverters (on-grid, off-grid, and hybrid), electric vehicle charging solutions, and uninterrupted power supply solutions. The financial details of the transaction were not disclosed.</p>
<p><strong>Solar water pump and motor manufacturer Shakti Pumps has </strong><a href="https://www.mercomindia.com/shakti-pumps-qualified-institutional-placement" target="_blank" rel="noopener"><strong>raised</strong></a><strong> ₹2.92 billion (~$34.07 million) through a qualified institutions placement (QIP) of shares.</strong> The QIP issue was priced at ₹918 (~$11) per share, a 4.97% discount to the Securities and Exchange Board of India floor price of ₹965.96 (~$11.3). The proceeds from the QIP will be utilized to establish a solar cell and module manufacturing facility in Pithampur, Madhya Pradesh, through the company’s subsidiary, Shakti Energy Solutions.</p>
<p><strong>The Green Climate Fund (GCF) has </strong><a href="https://www.mercomindia.com/gcf-200-million-adb-india-clean-energy-program" target="_blank" rel="noopener"><strong>approved</strong></a><strong> $200 million (~₹17.07 billion) for a new program led by the Asian Development Bank (ADB)</strong> to enhance large-scale public and private investments in India’s high-impact and emerging clean energy sectors. This funding is ADB’s first partnership with GCF in India. GCF will provide the concessional funding for ADB’s India Green Finance Facility.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-clearway-secures-over-1-billion" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Opdenergy Secures $412 Million


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					</table><p><a href="https://www.whitehouse.gov/administration/donald-j-trump/" target="_blank" rel="noopener">U.S. President</a> Donald Trump has signed an executive order directing the Secretary of the Treasury to terminate the clean electricity production and investment tax credits for wind and solar facilities and implement the enhanced foreign entity of concern restrictions identified in the ‘One Big Beautiful Bill’ Act.</p>
<p>The Secretary must take all action to strictly enforce the termination of the clean electricity production and investment tax credits under sections 45Y and 48E for wind and solar facilities within 45 days following the enactment of the Budget Reconciliation Bill.</p>
<p>These actions include issuing new and revised guidance that is appropriate and consistent with the applicable law, ensuring that policies concerning the “beginning of construction” are not circumvented. The Secretary will achieve this by preventing the artificial acceleration or manipulation of eligibility and restricting the use of broad safe harbors unless a substantial portion of a subject facility has been built.</p>
<p>The Secretary must also take prompt and lawful action to implement the Act’s strengthened restrictions on Foreign Entities of Concern within 45 days.</p>
<p>Additionally, all regulations, guidance, policies, and practices under the Department’s jurisdiction that favor wind and solar over dispatchable energy sources must be reviewed within the same 45-day period. Any such preferences must then be removed through appropriate and legally consistent revisions.</p>
<p>The Secretaries of the Treasury and the Interior must submit a report to the President, through the Assistant to the President for Economic Policy, detailing their findings and the actions taken or planned to carry out the order within 45 days of this order.</p>
<p>Trump stated that the federal government has allowed American taxpayers to subsidize what he considers costly and unreliable energy sources, such as wind and solar, for a considerable period. He claimed these projects displaced affordable, reliable, and dispatchable domestic energy sources, weakened the electric grid, and harmed the nation’s natural landscape.</p>
<p>The President noted that dependence on green subsidies has also exposed the U.S. to foreign-controlled supply chains, threatening national security. Ending these taxpayer-funded handouts, according to the President, is crucial for achieving energy dominance, fostering economic growth, ensuring national security, and maintaining fiscal stability.</p>
<p>President Trump signed a 940-page domestic policy and tax bill into law on July 4 after the United States House of Representatives <a href="https://www.mercomindia.com/house-passes-senates-version-of-budget-bill-without-changes/" target="_blank" rel="noopener">passed</a> the Senate’s version of the budget reconciliation bill without any changes by a vote of 218 to 214.</p>


Trump Orders Treasury to Restrict Wind and Solar Energy Tax Credits


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					</table><p>The Odisha government <a href="https://www.mercomindia.com/odisha-to-meet-50-power-needs-from-renewable-sources-by-2047" target="_blank" rel="noopener">aims</a> to meet 33% of its power needs from renewable energy sources by 2036 and 50% by 2047, according to Odisha Vision 2036 and 2047 report released recently. Odisha has attracted over ₹5 trillion (~$58 billion) in investments across the manufacturing sector, with 14% of the investment going towards green energy equipment and 8% towards electric vehicles and component manufacturing. The state has outlined several renewable energy goals in the report.</p>
<p>Launched in February 2024, the PM Surya Ghar: Muft Bijli Yojana <a href="https://www.mercomindia.com/community-solar-a-viable-option-in-rural-areas" target="_blank" rel="noopener">aims</a> to provide financial support for the installation of rooftop solar systems in 10 million households by 2026-27. The subsidy for a 3 kW system is ₹78,000 (~$910), which is expected to generate approximately 360 kWh per month at a capacity utilization factor (CUF) of around 16%. Under the program, a collateral-free loan of up to ₹200,000 ($2,333) is available at an interest rate of 6%, with a loan tenure of 10 years.</p>
<p>Commercial and industrial units in India are increasingly <a href="https://www.mercomindia.com/indias-ci-sector-increasingly-adopting-clean-energy-to-decarbonize-operations" target="_blank" rel="noopener">adopting</a> solar energy as a viable, cost-effective, and sustainable alternative to conventional power sources. Driven by rising awareness, volatile energy prices, and the growing emphasis on energy independence, solar adoption is gaining strong momentum, particularly in energy-intensive sectors. At Mercom India’s fifth edition of the Renewables Summit, scheduled for July 24–25, 2025, at the Hyatt Regency, New Delhi, a panel discussion on “How Industries and Commercial (C&amp;I) Units Are Pursuing Green Growth” will explore the opportunities and challenges businesses face while transitioning to cleaner energy sources.</p>
<p>The Central Electricity Regulatory Commission <a href="https://www.mercomindia.com/cerc-orders-andhra-telangana-discoms-to-clear-wind-energy-generators-dues" target="_blank" rel="noopener">directed</a> Andhra Pradesh Southern Power Distribution Company (APSPDCL) and Telangana Southern Power Distribution Company (TSSPDCL) to pay the outstanding power purchase dues from August 2011 to December 2012, along with 10% interest, to a wind power project developer. The payment liability is to be shared between APSPDCL and TSSPDCL, based on a consumption-based allocation formula. APSPDCL will bear 17.45% of the liability, while the remaining amount is the responsibility of TSSPDCL.</p>
<p>Gujarat-based solar frame manufacturer H&amp;H Aluminium <a href="https://www.mercomindia.com/hh-aluminium-sets-up-%E2%82%B91-5-billion-solar-frame-plant-in-gujarat" target="_blank" rel="noopener">set</a> up a 24,000 metric tons per annum capacity aluminum solar frame manufacturing plant in Rajkot, Gujarat. The company stated that the facility can support solar installations with a capacity of up to 6 GW. H&amp;H Aluminium said it invested approximately ₹1.5 billion (~$17.55 million) in the 28,000 sq m facility. The plant’s trial production commenced in June this year. Commercial production is expected to begin within a month.</p>
<p>Joining a growing list of clean energy companies intending to raise funds from the stock market, Bengaluru-based solar cell and module manufacturer Emmvee Photovoltaic Power <a href="https://www.mercomindia.com/emmvee-photovoltaic-draft-papers-30-billion-ipo" target="_blank" rel="noopener">filed</a> a draft red herring prospectus with the Securities and Exchange Board of India to raise ₹30 billion (~$350.12 million) through an initial public offering (IPO). The IPO will include a fresh issue of equity shares worth ₹21.44 billion (~$250.21 million) and an offer-for-sale component of ₹8.56 billion (~$99.9 million) by promoters Manjunatha Donthi Venkatarathnaiah and Shubha Manjunatha Donthi.</p>
<p>ILJIN Electronics, a material subsidiary of Amber Group, <a href="https://www.mercomindia.com/il-jin-electronics-forays-into-bess-buys-majority-stake-in-power-one" target="_blank" rel="noopener">entered</a> into definitive agreements for a majority stake in Bengaluru-based Power One Micro Systems. Power-One offers battery energy storage systems, solar inverters (on-grid, off-grid, and hybrid), electric vehicle charging solutions, and uninterrupted power supply solutions. The financial details of the transaction were not disclosed. Power-One caters to multiple clients in the public and private sectors. Greater Noida-based ILJIN Electronics is an integrated provider of printed circuit board assembly and bare board PCB solutions.</p>
<p>Solar glass manufacturer Borosil Renewables <a href="https://www.mercomindia.com/solar-glass-manufacturer-borosils-german-arm-files-for-insolvency" target="_blank" rel="noopener">announced</a> that its step-down German subsidiary, Glasmanufaktur Brandenburg, has filed for insolvency under the German Insolvency Code before the jurisdictional court in Cottbus. The company said it filed for insolvency due to the sustained deterioration in the European solar manufacturing ecosystem, with Chinese manufacturers flooding the market with underpriced solar modules.</p>


Daily News Wrap-Up: Odisha Sets Renewable Energy Goals for 2047


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					</table><p><strong>The Abu Dhabi Fund for Development (ADFD) signed a financing agreement with the Gulf Cooperation Council Interconnection Authority (GCCIA) to expand the Gulf Cooperation Council&#8217;s power grid interconnection with the UAE’s national grid, valued at AED 752</strong> million (~$205 million). The objective of the project is to strengthen the interconnectivity between the UAE and the GCC power grid, thereby enhancing regional energy resilience. The project supports the UAE Energy Strategy 2050 by creating an energy system that is both efficient and sustainable, fostering long-term economic growth for the nation. The agreement was signed at ADFD headquarters in Abu Dhabi by Mohammed Saif Al Suwaidi, Director General of ADFD, and Ahmed Ali Al Ebrahim, CEO of GCCIA.</p>
<p><strong>Saudi</strong>-based <strong>ACWA Power</strong> <a href="https://www.ainvest.com/news/acwa-power-sar7-12-billion-rights-issue-catalyst-renewable-energy-dominance-long-term-growth-2507/" target="_blank" rel="noopener">launched</a> a rights issue to raise SAR 7.12 billion (~$1.9 billion). ACWA will use the funds to expand its project pipeline and strategic acquisitions. The rights issue involves a 4.63% dilution and has been approved by the Capital Market Authority. Between 74% and 84% of the fund will be allocated to support current and future initiatives. These initiatives include the 2.7 GW Al-Zour North independent wind power project in <strong>Kuwait</strong>, a cogeneration plant capable of processing 540,000 cubic meters of water daily, as well as Saudi Arabia&#8217;s major projects under its National Renewable Energy Program.</p>
<p><strong>Saudi Power Procurement Company</strong> <a href="https://www.zawya.com/en/projects/utilities/saudis-sppc-signs-ppa-for-700mw-yanbu-wind-energy-project-vz32t174" target="_blank" rel="noopener">signed</a> a 700 MW power purchase agreement (PPA) for wind energy with <strong>Yanbu Wind Independent Power Plant</strong> in the country’s Al-Medina al-Munawwarah region<strong>.  </strong>The agreement was signed with a consortium led by Japan’s Marubeni Corporation and Saudi Arabia’s Ajlan and Bros Holding. The project is being developed for 1.7 billion Saudi riyals ($458 million). The levelized cost of electricity is 6.4 halalas/kWh ($1.72). The PPA duration was not disclosed.</p>
<p><strong>Oman</strong>’s sole procurer of power and water capacity, Nama Power and Water Procurement Company, <a href="https://www.zawya.com/en/economy/gcc/oman-4th-i-rec-auction-to-advance-clean-energy-dsq34e6t" target="_blank" rel="noopener">launched</a> its fourth auction round for International Renewable Energy Certificates (I-RECs). The latest round offers over three million I-RECs. These certificates represent renewable energy generated by the Manah I and Manah II solar and Dhofar I wind projects between July 2024 and December 2025. The Manah I and Manah II projects each have a capacity of 500 MW. They are expected to generate approximately 1.5 million I-RECs annually. The Dhofar I project is estimated to generate roughly 150,000 certificates per year.</p>


MENA Weekly Roundup: Abu Dhabi Signs Financing Agreement for GCC Interconnectivity


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					</table><p>The Odisha government aims to meet 33% of its power needs from renewable energy sources by 2036 and 50% by 2047, according to Odisha Vision 2036 and 2047 report released recently.</p>
<p>Odisha has attracted over ₹5 trillion (~$58 billion) in investments across the manufacturing sector, with 14% of the investment going towards green energy equipment and 8% towards electric vehicles and component manufacturing.</p>
<p>The state has outlined several renewable energy goals in the report.</p>
<p><strong>Renewable Energy Goals </strong></p>
<p>To address the rising clean energy demand, Odisha plans to add 21,000 MW of generation capacity by 2047, with over 70% to 75% of this capacity coming from renewable energy sources, including solar, wind, round-the-clock renewables, and advanced storage solutions.</p>
<p>The state’s current installed renewable energy capacity is 10% of the total installed capacity. Odisha aims to generate 55% of the state&#8217;s total energy from renewable sources.</p>
<p>To achieve this goal, the state plans to mobilize between ₹1.8 trillion (~$21 billion) and ₹2 trillion (~$23 billion) through tailored incentives and policies. It will organize energy-themed roadshows focusing on new technologies such as floating solar, small modular reactors for nuclear power, and energy storage.</p>
<p>Odisha aims to establish a ‘State Green Energy Transition Fund’ to provide initial investments for the energy transition. It also plans to establish a task force to expedite the development of 7 GW of pumped storage projects.</p>
<p>The state aims to be among the top five energy-exporting states by 2047, supplying power to southern and eastern India. It targets achieving at least 33% green power consumption in industrial sectors, while maintaining competitive tariffs to attract investment.</p>
<p>The vision document says Odisha will work towards enabling green industries through 3–5 MMTPA green hydrogen production capacity. These industries will include green steel and aluminum production.</p>
<p>The state government said the new investment opportunities will help it generate 75,000 new jobs in renewable energy.</p>
<p>According to the report, Odisha is also planning to achieve a near 80% electric vehicle and alternative fuel vehicles sales penetration in road transport by 2047. The sales penetration is currently at approximately 7%.</p>
<p>The state government said that Odisha’s 11% share of the nation’s water resources underpins a vast 36 GW potential for pumped storage projects, with 1.7 GW already under development.</p>
<p>The state plans to tap into its floating solar energy potential, estimated at between 17 GW and 18 GW, supported by its extensive surface water resources. It targets enabling 50% of end-use electricity consumption in agriculture and urban households to be powered by solar energy by 2036.</p>
<p>Last year, the Odisha Government <a href="https://www.mercomindia.com/odisha-approves-renewable-energy-billion" target="_blank" rel="noopener">approved</a> two major projects in the renewable energy sector, with a combined investment of ₹4.11 billion (~$49.1 million). These projects were approved at the 130th meeting of the State Level Single Window Clearance Authority.</p>


Odisha to Meet 50% Power Needs from Renewable Sources by 2047


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					</table><p>Solar glass manufacturer <a href="https://borosilrenewables.com/" target="_blank" rel="noopener">Borosil Renewables</a> has announced that its step-down German subsidiary, Glasmanufaktur Brandenburg (<a href="https://gmb-glas.de/" target="_blank" rel="noopener">GMB</a>), has filed for insolvency under the German Insolvency Code before the jurisdictional court in Cottbus.</p>
<p>The company said it filed for insolvency due to the sustained deterioration in the European solar manufacturing ecosystem, with Chinese manufacturers flooding the market with underpriced solar modules. The influx of the cheaper Chinese components led several European module makers to shut down, resulting in a sharp decline in demand for solar glass.</p>
<p>GMB, which has a manufacturing capacity of 350 tons per day (TPD), was supplying solar glass to European manufacturers. Despite providing financial support of €27 million (~$29.43 million) to GMB over time, Borosil Renewables has been incurring monthly losses of €0.9 million (~$981,000). It has ceased accounting for GMB’s losses from July 4, 2025, the date of the insolvency filing.</p>
<p>Borosil’s exposure in its German and step-down subsidiary stood at €35.30 million (~$38.48 million) as of March 31, 2025. The company stated that its upcoming quarterly results will reflect any further financial impact from the insolvency resolution process.</p>
<p>It said its decision to exit its European operations is also aimed at consolidating resources and refocusing management on India, where market conditions, policy frameworks, and long-term growth potential are favorable for scaling operations.</p>
<p>India’s solar module manufacturing capacity is projected to reach 150 GW by March 2027, resulting in a significant increase in domestic demand for solar glass.</p>
<p>In response, Borosil plans to expand its manufacturing capacity by 600 TPD by adding two new furnaces, with an investment of ₹9.5 billion (~$110.47 million). This expansion will increase the company&#8217;s total capacity by 60% over its existing 1,000 TPD.</p>
<p>In January this year. Borosil <a href="https://www.mercomindia.com/borosil-to-expand-solar-glass-production-by-50-to-1500-tons-a-day" target="_blank" rel="noopener">announced</a> a 50% expansion of its solar glass manufacturing capacity from 1,000 to 1,500 TPD.</p>


Solar Glass Manufacturer Borosil’s German Arm Files for Insolvency


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					</table><p><a href="https://www.mercomindia.com/cabinet-approves-new-rooftop-solar-subsidy-program" target="_blank" rel="noopener">Launched</a> in February 2024, the PM Surya Ghar: Muft Bijli Yojana aims to provide financial support for the installation of rooftop solar systems in 10 million households by 2026-27. The subsidy for a 3 kW system is ₹78,000 (~$910), which is expected to generate approximately 360 kWh per month at a capacity utilization factor (CUF) of around 16%.</p>
<p>Under the program, a collateral-free loan of up to ₹200,000 ($2,333) is available at an interest rate of 6%, with a loan tenure of 10 years. For a 3 kW system costing ₹180,000 ($2,100), if the full amount is financed through the loan, the equated monthly installment (EMI) would be ₹1,998 ($23.20). This can be offset by an electricity bill with a tariff of ₹5.50 ($0.064)/kWh or higher, assuming monthly consumption of 360 kWh.</p>
<p>If the government subsidy is applied, the EMI drops to ₹1,132 ($13.20), which can be offset by a tariff of ₹3.15 ($0.037)/kWh or more. Once the loan is fully repaid, the electricity generated by the 3 kW system will be free for the remaining 15 years of its estimated life.</p>
<p>By March 2025, rooftop solar installations under PM Surya Ghar crossed the one-million milestone. In the first quarter of 2025, India <a href="https://www.mercomindia.com/india-adds-1-2-gw-of-rooftop-solar-capacity-in-q1-2025-a-232-yoy-growth" target="_blank" rel="noopener">added</a> 1.2 GW of rooftop solar capacity. The quarter’s installations were driven by the residential segment under PM Surya Ghar, which made up nearly 77% of the capacity additions, according to Mercom’s Q1 2025 India Rooftop Solar Report.</p>
<p>In the case of Kerala, Maharashtra, and Rajasthan, the electricity tariff for residential consumers with a monthly consumption of 300 kWh or higher is more than ₹7 (~$0.082)/kWh, which makes rooftop solar financially viable even without a subsidy. In Gujarat and Uttar Pradesh, the tariff is around ₹5 (~$0.058)/kWh. However, the high rate of installations in Gujarat is due to the favorable policy ecosystem for rooftop solar in the state. Uttar Pradesh provides an additional state subsidy of ₹15,000 (~$175)/kW up to 2 kW.</p>
<p>These examples strengthen the case for rationalizing the subsidy available under the PM Surya Ghar program.</p>
<p>Under distribution companies (DISCOMs) where the tariff for residential consumers is higher than the average power purchase cost (APPC), rooftop solar results in revenue loss to DISCOMs on two accounts:</p>
<ul>
<li>The difference between the retail tariff and the APPC</li>
<li>The solar power generated by the consumer during the daytime is adjusted by the power supplied mostly during peak hours, which is comparatively costlier than the power available during the daytime. For example, in Maharashtra, the tariff for residential consumers with monthly consumption above 300 kWh is ₹9.69 (~$0.11)/kWh. With an APPC of around ₹5.8 (~$0.68)/kWh, Maharashtra DISCOMs will lose revenue if consumers install rooftop solar. A similar case exists in Kerala and Rajasthan, where the tariff exceeds ₹7 (~$0.082)/kWh, which is significantly higher than the APPC.</li>
</ul>
<p>In several states, the electricity tariff for rural domestic consumers is heavily subsidized. In rural areas, the connected load is typically low, around 1 kW, and electricity consumption is also limited. Moreover, shadow-free rooftops or roofs with sufficient structural strength to support the load of a rooftop solar system are often not available.</p>
<p>For smaller rooftop solar systems, the cost is high (over ₹75,000 (~₹875) for a 1-kW system in rural areas). Even with a central subsidy of ₹30,000 (~$350), the rural consumer has to invest ₹45,000 (~$525), which is not viable due to the highly subsidized tariff.</p>
<p><strong>The Case for Community Solar</strong></p>
<p>To reduce the subsidy burden on states and DISCOMs and promote energy independence in villages, community solar appears to be a more viable alternative. In a rural habitation, if 100 households participate in a community solar project, the aggregated demand would be around 100 kW. A 100 kW solar system would cost approximately ₹50,000 ($583)/kW, compared to ₹75,000 ($875) for individual 1 kW rooftop systems. Moreover, such a system is easier to maintain and can operate at a higher capacity utilization factor (CUF) of 17–19%. In April 2022, the Prime Minister inaugurated one such project in Palli Gram Panchayat, Jammu, declaring it the country’s first carbon-neutral Panchayat.</p>
<p>According to a report, “ Shared Solar: Current Landscape, Market Potential, and the Impact of Federal Securities Regulation” by the U.S. National Renewable Energy Laboratory, 49% of households and 48% of businesses in the country are unwilling or unable to install rooftop solar. This may be due to factors such as lack of homeownership, unsuitable roof conditions (e.g., shading or limited roof size), or high upfront installation costs.</p>
<p>For such consumers, community solar is being actively promoted. As of December 2024, more than 3,760 community solar projects with a combined capacity exceeding 10 GW had been installed across 44 U.S. states. Additionally, 23 states have enacted policies that support the development of community solar projects.</p>
<p>The European Union in a <a href="https://eur-lex.europa.eu/eli/dir/2019/944/oj/eng" target="_blank" rel="noopener">directive</a> to the European Parliament on June 5, 2019, on common rules for the internal market for electricity, mandated that all member countries implement laws to make community energy not only feasible but also financially viable. In northwestern Europe, experts estimate that over 10,000 community energy associations are active, primarily in Germany, Denmark, Belgium, the Netherlands, and the United Kingdom.</p>
<p>To evaluate the financial viability of community solar projects in rural areas under the PM Surya Ghar subsidy scheme, a cost-benefit analysis is provided below:</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/11.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-81592 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/11.png" alt="" width="853" height="657" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/11.png 853w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/11-300x231.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/11-768x592.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/11-650x501.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/11-624x481.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/11-600x462.png 600w" sizes="(max-width: 853px) 100vw, 853px" /></a></p>
<p>The above analysis indicates that even with a subsidy under PM Surya Ghar, a 1-kW rooftop solar installation in rural areas is not viable for an LCOE less than ₹3.09 ($0.015)/kWh. In special category states where the subsidy is 10% higher, the LCOE for community solar would be ₹1.16 (~$0.014)/kWh.</p>
<p>Community solar implemented with a DISCOM/RESCO model in rural areas where electricity is free or highly subsidized will enable both the DISCOM and the state to reduce the electricity subsidy amount to a large extent, thereby enhancing the reliability of the power supply.</p>
<p>With an APPC of ₹5 ($0.073)/kWh on purchasing electricity to supply in rural areas. With the adoption of community solar under PM Surya Ghar, not only will the subsidy outgo from the exchequer be reduced to zero, but the DISCOM will also be able to save around ₹5 (~$0.058)/kWh.</p>
<p>From the above analysis, it is evident that aggregating demand across a village or a cluster of households significantly reduces installation costs for community solar. It also operates at a CUF of around 17–19%, compared to 12–14% for individual rooftop solar, owing to enhanced flexibility in design and orientation, as well as better maintenance. Community solar would benefit states, DISCOMs, and end-consumers, and improve the government’s resource utilization efficiency.</p>
<p><strong>The views and analysis presented in this article are solely those of the author.</strong><br />
<em>(Pulkit Jethani is a researcher at IIT Delhi and can be reached at pulkitjethani@gmail.com.)</em></p>


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