The Tripura Renewable Energy Department Agency invited bids for a pre-feasibility report for a pumped hydro storage project in the state. Bids must be submitted by January 30, 2025. Bids will be opened on the same day. Selected bidders must survey and prepare feasibility studies, alternative study reports, and detailed pre-feasibility reports for the project. They must complete these tasks within 90 days of the agreement’s execution.

Reliance Industries will acquire a 100% equity stake in Lakadia B Power Transmission from REC Power Development and Consultancy for ₹80 million (~$923,782) to establish an interstate transmission system to evacuate up to 3.5 GW of renewable energy from Lakadia in Gujarat. Lakadia B Power Transmission was incorporated on October 29, 2024, to establish the project and has yet to commence commercial operations. The tender was floated in September 2024. Reliance will design, engineer, construct, test, and commission the project.

Ahmedabad-based pharmaceutical company Concord Biotech entered into a strategic agreement to acquire a 26% equity stake in Clean Max Everglades, a Clean Max Enviro Energy Solutions special-purpose vehicle that is setting up a renewable energy project with a total capacity of 9.9 MW. Concord Biotech will procure power in captive mode from the 6.6 MW wind and 3.3 MW solar project for its facility at Dholka, Gujarat. The acquisition involves acquiring 26,000 equity shares at ₹10 (~$0.11) each, resulting in a 26% ownership stake for Concord Biotech.

A recent National Renewable Energy Laboratory study estimates that floating solar installations on federally controlled reservoirs could generate between 861 and 1,042 GWdc of power. This contribution represents nearly half of the U.S.’s solar capacity requirements to achieve a decarbonized energy grid by 2050. The potential energy output varies based on factors such as reservoir floor slope and minimum water volume thresholds, emphasizing the importance of site-specific evaluations.

The Japan Bank for International Cooperation (JBIC) signed an agreement to set up a credit line of JPY120 billion (~$770.64 million) with the government-owned Power Finance Corporation (PFC). JBIC’s share of the total credit line will be JPY72 billion (~$462.38 million). PFC secured the credit line under JBIC’s Global Action for Reconciling Economic Growth and Environmental Preservation program for India-based energy projects, including renewable and next-generation energy supply, energy-saving power generation, and heat supply.