ACME Solar Holdings, SAEL Industries, Essar Renewables, Onward Solar Power, and NTPC Renewable Energy (NTPC REL) were declared winners in SJVN’s auction to set up 1.2 GW interstate transmission system (ISTS)-connected solar power projects anywhere in India. ACME, SAEL, and Essar were awarded 300 MW each, and Onward 100 MW at a tariff of ₹2.52 (~$0.0300)/kWh. NTPC REL won 200 MW out of the quoted capacity of 400 MW at a tariff of ₹2.53 (~$0.0301)/kWh under the bucket-filling method.

The Karnataka Electricity Regulatory Commission has introduced the KERC (Implementation of peer-to-peer Solar Energy Transaction) Regulations, 2024 to promote renewable energy and innovative technologies. The regulations, which apply to all distribution licensees and eligible consumers in Karnataka, aim to facilitate the transaction of rooftop solar energy through blockchain-based platforms, enabling consumers to sell surplus power directly to other consumers.

NTPC Renewable Energy has invited bids for land and power evacuation packages to develop 1,000 MW solar power projects in the Mandsaur region, Madhya Pradesh. The last date for submitting bids is September 11, 2024. Bids will be opened on the same day.

Renewable energy platform Blueleaf Energy announced the financial closure of its 200 MW wind-solar hybrid power project under development in Madhya Pradesh. The company has secured around $170 million in financing from Axis Bank for the Pachora hybrid power project and grid access at the Pachora Inter-State Transmission System (ISTS) substation. The project, which is expected to start operations in 2025, is estimated to produce over 600 GWh of energy a year.

Renewable power producer Azure Power has secured project refinancing of ₹13 billion (~$154.86 million) from HSBC for its 300 MW solar power project near Jodhpur, Rajasthan. The debt has been amortized for 21 years. The project, operational since March 2023, has a long-term offtake agreement from the Solar Energy Corporation of India. Azure Power has a portfolio of over 4.3 GW of renewable energy assets in India.

Energy storage solutions provider Eos Energy Enterprises reported revenue of $900,000 during the second quarter of 2024, a 261% year-over-year (YoY) increase. Higher component and commissioning revenues drove the revenue growth. The company reduced its net loss to $28.17 million, a YoY improvement of 78.5% from $131.63 million. The cost of goods sold was $14.1 million, a 26% YoY increase from the previous year. This increase was primarily due to commissioning costs related to prior period shipments, a Z3 micro-grid demonstration project, and lower labor utilization and overhead absorption.

U.S.-headquartered Shoals Technologies Group, a manufacturer of Electrical Balance of Systems (EBOS) for clean energy, reported a revenue of $99.2 million in the second quarter (Q2) 2024, a 17% year-over-year (YoY) decrease from $119 million. The fall in revenue was triggered by project pushouts, which resulted in lower demand for the company’s products in domestic utility-scale solar projects. Shoals also saw a 37.56% decline in net income from $18.9 million in Q2 2023 to $11.8 million in Q2 2024. Adjusted Earnings before Interest, Taxes, Depreciation, and Amortization dropped to $27.7 million from $48.2 million for the prior-year period.