UERC Rejects Plea to Relax 1 MW Rooftop Solar Cap for Net Metering

Singareni Collieries Floats O&M Tender for 5 MW Floating Solar Project

Andhra Pradesh Tenders 1.2 GW Rooftop Solar Projects Under PM Surya Ghar

Rajasthan Regulator Approves Tariffs for 229 MW Solar Projects under KUSUM

WorldOne Energies to Set Up 1 GW Solar Module Facility in Canada

NTPC Green Issues O&M Tender for 160 MW Solar Project

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

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

MCX to Start Electricity Futures Trading from July 10, 2025

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


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/07/amazon_polly_81696.mp3?version=1752041790">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</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>



					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/07/amazon_polly_81685.mp3?version=1752040232">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</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>



					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/07/amazon_polly_81686.mp3?version=1752039848">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</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>



					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/07/amazon_polly_81676.mp3?version=1752041915">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</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>



					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/07/amazon_polly_81666.mp3?version=1751977246">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</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


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/07/amazon_polly_81631.mp3?version=1751955106">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</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


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/07/amazon_polly_81615.mp3?version=1751950188">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</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


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/07/amazon_polly_81612.mp3?version=1751895728">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</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


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/07/amazon_polly_81607.mp3?version=1751885692">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</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


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/07/amazon_polly_81588.mp3?version=1752041356">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</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>


Community Solar with PM Surya Ghar Subsidy is a Viable Option in Rural India  


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/07/amazon_polly_81581.mp3?version=1751866849">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Patel Infrastructure and Enerica Infra 3 (EnerGrid) <a href="https://www.mercomindia.com/patel-infrastructure-enerica-win-sjvns-1-5-gwh-battery-energy-storage-auction" target="_blank" rel="noopener">won</a> SJVN’s auction to develop 375 MW/1,500 MWh standalone battery energy storage system (BESS) in Uttar Pradesh under the build-own-operate model. Patel won 187.5 MW/750 MWh at a tariff of ₹359,000 (~$4,199)/MW/month. Enerica also bagged 187.5 MW/750 MWh at a tariff of ₹359,999 (~$4,211)/MW/month. The tender was issued in February this year. The BESS will be eligible for Viability Gap Funding support of up to ₹2.7 million (~$31,598)/MWh or 30% of the capital cost, whichever is lower.</p>
<p>The Tamil Nadu Electricity Regulatory Commission <a href="https://www.mercomindia.com/tamil-nadu-hikes-fy-2026-electricity-tariffs-by-3-16" target="_blank" rel="noopener">increased</a> the retail supply tariff for commercial and industrial consumers by approximately 3.16%. The tariff revision will take effect from July 1, 2025. The tariff increase is part of the multi-year tariff framework introduced in 2022, which allows for inflation-indexed annual revisions capped at 6%. The tariff for industrial category consumers has been increased by 3.4% to ₹7.5 (~$0.087)/kWh in FY 2026 from ₹7.25 (~$0.084)/kWh.</p>
<p>Renewable energy developer, Serentica Renewables, <a href="https://www.mercomindia.com/serentica-floats-eoi-for-land-for-5-gw-solar-projects-in-rajasthan" target="_blank" rel="noopener">invited</a> expressions of interest from land aggregators and renewable energy park facilitators to develop 5 GW of solar power projects in Rajasthan. The last date to submit bids is July 18, 2025. Serentica Energy plans to acquire/lease 20,000 acres for the 5 GW solar projects. Bidders must be capable of facilitating land and/or renewable energy parks, including grid-level infrastructure at both the Central and State transmission networks.</p>
<p>Hazoor Multi Projects <a href="https://www.mercomindia.com/hazoor-multi-projects-epc-contract-200-mw-solar" target="_blank" rel="noopener">secured</a> a letter of award from Apollo Green Energy for the engineering, procurement, and construction (EPC) of a 200 MW solar power project at the Gujarat State Electricity Corporation’s renewable energy park in Khavda (Stage-3). The contract is valued at ₹9.13 billion (~$106.78 million). The project must be completed by March 2026. Hazoor Multi Projects will be responsible for the design, engineering, supply, construction, erection, testing, and commissioning of the project.</p>
<p>Bajel Projects <a href="https://www.mercomindia.com/bajel-projects-wins-renewable-energy-transmission-epc-order" target="_blank" rel="noopener">secured</a> an EPC order for package TL04 of the Siwani-Jind 400 kV double-circuit (quad) transmission line from Power Grid Corporation of India. The order’s value is between ₹3 billion (~$34.88 million) and ₹4 billion (~$46.51 million). The EPC order is part of the transmission projects won by PGCIL from REC Power Development and Consultancy in October 2024 to evacuate a cumulative 12 GW of power from the Renewable Energy Zone Phase-IV in Rajasthan.</p>
<p>The Indian Energy Exchange (IEX) <a href="https://www.mercomindia.com/iex-green-energy-market-jumps-30-yoy-in-june" target="_blank" rel="noopener">achieved</a> a monthly electricity volume of 10.85 billion units (BU) in June 2025, representing a 6.5% year-over-year (YoY) increase. The country’s energy consumption during the month reached 150.04 BU, representing a 1.5% YoY decline due to the early onset of monsoons. IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved a traded volume of 964 million units (MU), a 30% YoY increase from 744 MU.</p>
<p>The Green Climate Fund (GCF) <a href="https://www.mercomindia.com/gcf-200-million-adb-india-clean-energy-program" target="_blank" rel="noopener">approved</a> $200 million (~₹17.07 billion) for a new program led by the Asian Development Bank (ADB) 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. The facility aims to crowd-in investments in emerging clean energy technologies from the country’s private sector development finance institutions.</p>
<p>Nearly $1.2 trillion must be <a href="https://www.mercomindia.com/battery-storage-support-renewables-2034" target="_blank" rel="noopener">invested</a> globally in BESS to support the installation of over 5,900 GW of new wind and solar capacity through 2034, according to Wood Mackenzie. The deployment of grid-forming technology needs to accelerate over the next decade to facilitate the projected $5 trillion global expansion of renewable energy. Unlike conventional grid-following systems that only react to existing grid conditions, grid-forming BESS can actively generate and sustain grid stability.</p>
<p>Germany’s Federal Network Agency <a href="https://www.mercomindia.com/germany-488-mw-solar-plus-storage-auction" target="_blank" rel="noopener">awarded</a> 488 MW of solar plus storage capacity in the latest round of its innovation tender for renewable energy projects. The agency received 158 bids totaling 2,020 MW. Out of these, 29 bids were awarded contracts. The awarded prices ranged from €0.05 (~$0.0589)/kWh to €0.0639 (~$0.0753)/kWh. The volume-weighted-average award price was €0.0615 (~$0.0724)/kWh, well below the maximum permissible price of €0.09 ($0.11)/kWh and also lower than the average of €0.0709 (~$0.0835)/kWh recorded in the previous round.</p>
<p>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. President Trump is expected to sign the bill into law on Friday. The Senate had removed the excise tax on wind and solar projects. The bill’s previous version included a tax of 50% on solar and 30% on wind projects commissioned after December 31, 2027, if they were constructed after the date of enactment and received material assistance from prohibited foreign entities.</p>


Daily News Wrap-Up: SJVN Announces 1.5 GWh BESS Auction Winners


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/07/amazon_polly_81570.mp3?version=1752039730">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Commercial and industrial (C&amp;I) units in India are increasingly adopting 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.</p>
<p>Industries with high emissions and significant power consumption, such as iron and steel, cement, petrochemicals, chemicals, textiles, foundries, automobiles, pharmaceuticals, and metals, are embracing clean energy solutions as part of their broader decarbonization efforts.</p>
<p>A panel discussion on “How Industries and Commercial (C&amp;I) Units Are Pursuing Green Growth” will be featured at Mercom India’s fifth edition of the <a href="https://www.mercomindia.com/event/renewables-summit-2025" target="_blank" rel="noopener">Renewables Summit</a>, scheduled for July 24–25, 2025, at the Hyatt Regency, New Delhi. The session will explore the opportunities and challenges businesses face while transitioning to cleaner energy sources.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-CI-1-scaled.jpg"><img loading="lazy" decoding="async" class="aligncenter wp-image-81637 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-CI-1-scaled.jpg" alt="C&amp;I Mercom Summit" width="2560" height="1578" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-CI-1-scaled.jpg 2560w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-CI-1-300x185.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-CI-1-2000x1233.jpg 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-CI-1-768x474.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-CI-1-1536x947.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-CI-1-2048x1263.jpg 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-CI-1-650x401.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-CI-1-624x385.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/Session-CI-1-600x370.jpg 600w" sizes="(max-width: 2560px) 100vw, 2560px" /></a></p>
<p>The session will feature Kartikeya Narain Sharma, Co-Founder and Chief Business Officer at <a href="https://sunsure-energy.com/" target="_blank" rel="noopener">Sunsure Energy</a>; Manoj Kumar Singh, Director General at the <a href="https://www.dipa.co.in/" target="_blank" rel="noopener">Digital Infrastructure Providers Association</a>; Vinay Vyas, CEO EPC Business at <a href="https://enrichenergy.com/" target="_blank" rel="noopener">Enrich Energy</a>; and Birendra Pandey, Head of Energy Commercialization at <a href="https://enfinity.global/" target="_blank" rel="noopener">Enfinity Global India</a>, on the panel.</p>
<p>The 60-minute session will explore strategies adopted by C&amp;I consumers to navigate compliance and regulatory issues, optimize investment decisions, and align renewable energy goals with broader corporate sustainability mandates.</p>
<p>The panelists will shed light on best practices and emerging trends in the adoption of renewable energy by the commercial and industrial (C&amp;I) sector.</p>
<p>The 2025 Summit features three side events: the Mercom India Awards, the Cleantech Startup Pitch Competition, and the inaugural Renewable Energy Exhibition.</p>
<p>The <a href="https://www.mercomindia.com/awards" target="_blank" rel="noopener">Mercom India Awards</a> will honor outstanding achievements and the latest technological innovations driving the transformation of India’s energy markets.</p>
<p>The <a href="https://www.mercomindia.com/event/startup" target="_blank" rel="noopener">Startup Pitch Competition</a> will provide a platform for early-stage companies in the clean energy space to showcase their transformative ideas to the industry.</p>
<p>The <a href="https://www.mercomindia.com/event/renewables-summit-2025/exhibitor" target="_blank" rel="noopener">Exhibition</a> will offer attendees the opportunity to connect with industry leaders, explore new business opportunities, and enhance their brand visibility. The exhibition will have renewable energy companies showcasing a wide range of cutting-edge renewable energy solutions 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>


India’s C&I Sector Increasingly Adopting Clean Energy to Decarbonize Operations


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/07/amazon_polly_81562.mp3?version=1751648683">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The <a href="http://www.house.gov/" target="_blank" rel="noopener">United States House of Representatives</a> has passed the Senate’s version of the budget reconciliation bill without any changes by a vote of 218 to 214. President Trump is expected to sign the bill into law on Friday.</p>
<p>The Senate had <a href="https://www.mercomindia.com/senate-passes-budget-bill-without-excise-tax-on-wind-and-solar-projects" target="_blank" rel="noopener">removed</a> the excise tax on wind and solar projects. The bill’s previous version included a tax of 50% on solar and 30% on wind projects commissioned after December 31, 2027, if they were constructed after the date of enactment and received material assistance from prohibited foreign entities.</p>
<p>Material assistance restrictions would still apply for projects beginning construction after December 31, 2025.</p>
<p>The final Senate version includes a key revision, wherein solar and wind utility-scale projects breaking ground within 12 months of the bill’s passage will still qualify for the full Section 48E Investment Tax Credit (ITC) and the Section 45Y Production Tax Credit (PTC).</p>
<p>However, projects that begin construction after the 12-month grace period must be placed in service by 2027 to remain eligible.</p>
<p>The bill also proposes phasing out the manufacturing production credit for critical minerals. In 2031, the credit for critical minerals would be limited to 75%. It would drop to 50% in 2032, 25% in 2033, and end entirely in 2034. The credit for wind components would phase out earlier, ending for items produced and sold after December 31, 2027.</p>
<p>The bill passed in the Senate by a vote of 51 to 50, with Vice President Vance casting the tie-breaking vote.</p>
<p>The clean energy industry voiced disappointment with the passage of the bill.</p>
<p>Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association (SEIA), said: “The bill being sent to the President’s desk today is a significant step backwards for our nation’s energy economy at a time when we can least afford it. In the face of rising energy costs, global instability, and growing demand for power, Congress has turned its back on the very industries that are adding the majority of the new electricity generating capacity to the grid.</p>
<p>“Regardless of what happens in Washington in the coming months and years, markets will continue to drive outcomes.”</p>
<p>Trade association, the Coalition for Community Solar Access (CCSA), called the House’s final passage of the reconciliation bill an “irrational and punitive choice.” It said, “By voting for this bill, Congress chose to raise energy prices, put at risk thousands of energy projects already under development, destabilize investor confidence in energy markets, and put hundreds of thousands of American jobs at risk.</p>
<p>Donald Trump has <a href="https://www.mercomindia.com/trump-pauses-clean-energy-spending/" target="_blank" rel="noopener">issued</a> a raft of executive orders seeking to reverse his predecessor’s climate and energy agenda soon after assuming office as U.S. president. One of his first orders directed federal agencies to immediately pause the disbursement of funds through the IRA, which <a href="https://www.mercomindia.com/inflation-reduction-act-faster-transition-clean-energy-u-s" target="_blank" rel="noopener">proposed</a> spending millions of dollars to promote clean energy.</p>


House Passes Senate’s Version of Budget Bill Without Changes


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/07/amazon_polly_81535.mp3?version=1751621307">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The Green Climate Fund (<a href="https://www.greenclimate.fund/" target="_blank" rel="noopener">GCF</a>) has approved $200 million (~₹17.07 billion) for a new program led by the Asian Development Bank (<a href="https://www.adb.org/" target="_blank" rel="noopener">ADB</a>) to enhance large-scale public and private investments in India’s high-impact and emerging clean energy sectors.</p>
<p>This funding is ADB’s first partnership with GCF in India.</p>
<p>GCF will provide the concessional funding for ADB’s India Green Finance Facility. The facility aims to crowd-in investments in emerging clean energy technologies from the country’s private sector development finance institutions (DFIs).</p>
<p>ADB will use the facility to support lines of credit with qualifying DFIs. These institutions will develop the project pipelines and utilize the lines of credit to accelerate funding for technologies such as round-the-clock renewable energy, green hydrogen, compressed biogas, electric transport in rural areas, and decentralized renewable energy solutions.</p>
<p>According to ADB Director for Energy Transition Pradeep Tharakan, while India had made progress in scaling up wind and solar energy, it was now seeking to decarbonize hard-to-abate sectors such as industry, agriculture, and transportation.</p>
<p>The funding includes a $65 million (~₹ 5.55 billion) risk-sharing facility to provide partial credit guarantees, supporting smaller developers with accessible finance for compressed biogas projects. Commercial lenders usually overlook such projects due to their inherent risks.</p>
<p>In March this year, the ADB <a href="https://www.mercomindia.com/shriram-finance-secures-150-million-from-adb-for-ev-financing" target="_blank" rel="noopener">provided</a> a $150 million (~₹ 12.81 billion) loan to non-banking financial services company Shriram Finance to enhance access to finance for electric and low-emission commercial vehicles in India. The funding is part of a larger $306 million (~₹26.14 billion) financing package, which includes an additional $150 million (~₹ 12.81 billion) from the Japan International Cooperation Agency and ₹500 million (~$5.83 million) from the Export-Import Bank of India.</p>
<p>Last October, ADB <a href="https://www.mercomindia.com/adb-to-invest-certified-climate-bond-issue" target="_blank" rel="noopener">announced</a> it would invest $25 million (~₹2.13 billion) in a certified climate bond issue by Vivriti Capital. The proceeds will be used to finance companies operating in sectors such as electric vehicles, solar and wind energy, and waste management.</p>


GCF Approves $200 Million for ADB’s India Clean Energy Program


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/07/amazon_polly_81532.mp3?version=1751612689">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The Indian Energy Exchange (<a href="https://www.iexindia.com/" target="_blank" rel="noopener">IEX</a>) achieved a monthly electricity volume of 10.85 billion units (BU) in June 2025, representing a 6.5% year-over-year (YoY) increase.</p>
<p>The country’s energy consumption during the month reached 150.04 BU, representing a 1.5% YoY decline due to the early onset of monsoons.</p>
<p><strong>Green Market</strong></p>
<p>IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved a traded volume of 964 million units (MU), a 30% YoY increase from 744 MU.</p>
<p>The weighted average price in the Green Day-Ahead Market for June 2025 was ₹3.3 (~$0.038)/kWh.</p>
<p>In May, the IEX Green Market, had <a href="https://mercomindia.com/iex-green-energy-market-sees-47-increase-in-may-2025" target="_blank" rel="noopener">achieved</a> a volume of 915 MU, a 47% YoY increase from 622 MU.</p>
<p><strong>REC Market</strong></p>
<p>A total of 3.23 million renewable energy certificates (REC) were traded in the trading sessions held on June 11 and 25, 2025, at a clearing price of ₹350 (~$4.09)/REC and ₹360 (~$4.2)/REC, respectively.</p>
<p>Traded volume of RECs in June 2025 increased by 636% YoY.</p>
<p>The next REC trading sessions will be held on July 9 and 30, 2025.</p>
<p><strong>Day-Ahead, Term-Ahead and Real-Time Market</strong></p>
<p>The Market Clearing Price in the Day Ahead Market declined 28% YoY to ₹3.9/ (~$0.04)/kWh.</p>
<p>Similarly, the market-clearing price in the Real Time Market dropped 26% YoY to ₹3.73 (~$0.043)/kWh.</p>
<p>The Real-Time Electricity Market (RTM) volume increased to 4.31 BU, an increase of 34% from 3.21 BU in June 2024.</p>
<p>The Day-Ahead Market (DAM), including High Price Day Ahead Market (HPDAM), declined 5% YoY to 4.61 BU volume in June 2025.</p>
<p>Day Ahead Contingency and Term-Ahead Market (TAM), comprising High Price Term-Ahead Market, contingency, daily &amp; weekly, and monthly contracts up to three months, traded 966 MU, a drop of 30% YoY from 1.38 BU volume.</p>
<p><strong>First Quarter (Q1)</strong></p>
<p>For the first quarter of the fiscal year 2026 , IEX’s electricity traded volume increased 15% YoY to 32.38 BU.</p>
<p>During the first quarter , widespread rains kept temperatures lower, leading to lower-than-expected electricity demand in the summer months. Simultaneously, increased hydro, wind, and sustained supply from coal-based generation resulted in higher supply liquidity on the exchange platform, which led to a substantial drop in DAM and RTM prices.</p>
<p><strong>Green Market</strong></p>
<p>During Q1 FY26, the Green Market achieved a volume of 2.66 BU, representing a 51% increase over Q1 FY25.</p>
<p><strong>REC Market</strong></p>
<p>A total of 5.26 million RECs were traded during the quarter, representing an increase of 149% YoY.</p>
<p><strong>Day-Ahead, Term-Ahead and Real-Time Market</strong></p>
<p>The market clearing price in the Day-Ahead Market declined by 16% YoY to ₹ 4.41 (~$0.051)/kWh during Q1 FY26.</p>
<p>The Market Clearing Price in the Real-Time Market declined 20% YoY to ₹3.91 (~$0.045)/kWh.</p>
<p>Heavy rains pushed RTM prices down to ₹1.53 (~$0.017)/kWh during the quarter, with near-zero prices during several time blocks (9:15 AM to 2:30 PM) on May 25, 2025.</p>
<p>The DAM segment, including HPDAM, registered total volumes of 12.4 BU, a decline of 7% YoY.</p>
<p>The RTM segment registered total volumes of 12.97 BU, an increase of 41% YoY.</p>
<p>The total volume on the Day Ahead Contingency and TAM segment during the quarter was 4.35 BU, an increase of 12% over Q1 FY25.</p>
<p>In April 2025, the Central Electricity Regulatory Commission <a href="https://www.mercomindia.com/cerc-seeks-feedback-on-iexs-proposal-for-real-time-green-energy-trading" target="_blank" rel="noopener">invited</a> stakeholder feedback by April 23, 2025, on a proposal by the IEX to introduce real-time trading in renewable energy.</p>


Other

Get the most relevant India solar and clean energy news.

RECENT POSTS