At the Mercom India Renewables Summit 2024 in New Delhi, Mercom India announced the winners of the fourth annual Mercom India Awards. These prestigious awards honor the exceptional contributions of organizations that are propelling India’s clean energy transition and championing the country’s environmental goals through remarkable innovation and visionary leadership. The awards recognize each project’s uniqueness, challenges, and complexities and their economic and environmental impacts. Union Minister for New & Renewable Energy Pralhad Joshi presented the awards to the winners.

The overarching issues relating to the Indian renewables sector were discussed on the first day of the two-day Mercom India Renewables Summit 2024, an exclusive event that is being held in New Delhi. The event started with a keynote by Raj Prabhu, CEO & Co-Founder at Mercom Capital Group, and Priya Sanjay, Managing Director, Mercom India. The panelists at the session ‘Accelerating India’s Energy Transition: Urgency is the Driving Force’ had an engaging discussion on defining the shape and roadmap for India’s renewable energy future. The session featured Sudeep Jain (IAS), Additional Secretary at the Ministry of New and Renewable Energy; R.P. Gupta, CMD of Solar Energy Corporation of India; Indra Chandra Prasad Keshari, Advisor – Infrastructure and Energy at Adani Green Energy; Sarit Maheshwari, CEO of NTPC Renewable Energy; and Raj Prabhu, CEO & Co-Founder at Mercom Capital Group.

The country’s domestic solar manufacturing sector is experiencing a significant transformation driven by government initiatives and industry commitment. As the country strives for self-reliance in renewable energy production, key stakeholders navigate challenges and opportunities in a rapidly evolving landscape. The insights from the Mercom India Renewables Summit from various industry leaders and government officials provide a comprehensive view of India’s solar manufacturing ecosystem. On the first day of the Mercom India Renewables Summit in New Delhi, panelists at a session, ‘The Rise of Domestic Manufacturing: Strategies to Meet Growing Demand,’ deliberated on the challenges and opportunities for India’s renewable energy manufacturing ecosystem.

Solar EPC and turnkey solution provider Rays Power Infra has raised ₹1.27 billion (~$15.17 million) in equity capital from a clutch of high-net-worth individuals, family offices, funds, and partners in alternative investment funds. The round brings the company’s total funding to nearly ₹2 billion (~$23.89 million). The company maintained a stake dilution of less than 5% with this infusion of capital. The company is preparing to file its financial documents later this year, aiming to raise more money to support its plans to grow by more than 50%.