North Western Railway has issued a tender for a cumulative capacity of 2.748 MW of grid-connected rooftop solar systems at platform shelters and station buildings in Jaipur. The last date to submit the bids is August 23, 2024. Bids will be opened on the same day. The project must be completed in six months. The tender has been floated in two packages —1,515 kW and 1,233 kW for an estimated value of ₹113.53 million (~$1.35 million). Bidders must pay an earnest money deposit of ₹717,700 (~$8,560.52).

The PowerGrid Energy Services (PESL), a subsidiary of Power Grid Corporation of India, has invited bids to empanel channel partners for rate contracts to install residential rooftop solar systems in Ladakh, Lakshadweep, Puducherry, and Odisha under the PM Surya Ghar: Muft Bijli Yojana. The last date to submit bids is August 31, 2024. Bids will be opened on September 2. Bidders must furnish an earnest money deposit of ₹320000 ($3,816). The scope of the work covers PESL working with channel partners to connect with EPC vendors and distribution companies to complete the installation of the rooftop solar systems. The channel partners will also act as aggregators in states/Union Territories and tie up with EPC vendors to complete the project.

Adani Energy Solutions (AESL) has raised ₹83.73 billion (~$1 billion) through a qualified institutional placement (QIP). The proceeds from the QIP will be utilized for investment in transmission assets, such as building bulk evacuation corridors for renewable power, the smart metering business, debt repayment, and general corporate purposes. The QIP represents AESL’s first equity raise in the capital market since its demerger and listing from Adani Enterprises in July 2015. The transaction was launched on July 30, 2024, with a base deal size of ₹58.61 billion ($700 million) and included a greenshoe option to size up to ₹83.73 billion ($1 billion).

Battery manufacturer Amara Raja Energy & Mobility has announced a profit before tax of ₹3.29 billion (~$39.1 million) for the first quarter of the financial year FY 2025, up 23% year-over-year (YoY) from ₹2.66 billion (~$31.6 million). For the quarter ending June 30, the company reported revenue from operations amounting to ₹31.31 billion (~$372.9 million), an increase of 12.9% YoY from ₹27.71 billion (~$330 million). Strong volumes in the automotive aftermarket, OEMs, and export markets drove the revenue growth.

Solar tracker firm Nextracker has recorded a net income of $139 million, a 95% year-over-year (YoY) increase compared to $71 million for the first quarter (Q1) of the financial year 2025, reflecting significant growth across various metrics. The company reported a 50% YoY increase in revenue, reaching $720 million for Q1 FY25. This marks the sixth consecutive quarter of double-digit revenue growth, driven by healthy demand in both U.S. and international markets. The company achieved a record-adjusted EBITDA of $175 million, an increase of 108% YoY from $84 million, underscoring its operational efficiency and profitability.

The Indian Energy Exchange traded its highest monthly green energy volume of 989.6 MU million units (MU) in July 2024, a 259% year-over-year (YoY) increase from 275.4 MU. The weighted average Green Day-Ahead Market (G-DAM) price was ₹4.34 (~$0.052)/kWh. G-DAM cleared volume recorded an all-time high of 50 MU on July 28. The Exchange achieved the highest monthly total volume (including certificates) of 13,250 MU in July 2024, marking a 56% YoY increase. According to government data published in July 2024, the country’s energy consumption reached 145.4 BUs, representing a 4% increase YoY.

The budget for the UK’s sixth renewable energy Contracts for Difference (CfD) Allocation Round (AR6) has been increased by 51.71% to £1.555 billion (~$1.91 billion) from £1.025 billion (~$1.30 billion) allocated in March 2024. The AR6 will be valid for five years, from financial years 2026 to 2031. The funding aims to accelerate the delivery of clean, affordable, low-carbon electricity to families and businesses from renewable energy technologies such as wind turbines and solar panels. The industry will now bid for a share of the funding through the government’s sixth renewable auction—the CfD program.