Kintech Synergy, H.G Infra Engineering, Bhilwara Energy (LNJ Bhilwara Group) and Advait Infratech have won Gujarat Urja Vikas Nigam’s Phase IV standalone Battery Energy Storage Systems auction. The project was awarded following the introduction of Viability Gap Funding support and an increase in capacity to 500 MW/1000 MWh. The initial tender was issued for 400 MW/800 MWh with a greenshoe option of 400 MW/800 MWh. It was amended in October 2024.

Surat-based renewable energy project developer KPI Green Energy won Coal India’s auction to set up a 300 MW grid-connected ground-mounted solar project at the Khavda Solar Park in Gujarat. The project’s contract value is ₹13.11 billion (~$154.77 million). The scope of work includes the design, engineering, procurement, supply of equipment and materials, erection, testing, and project commissioning.

The Solar Energy Corporation of India has invited bids for a 4.12 MW cumulative capacity solar power project in the IIT Kharagpur campus (Zone III), West Bengal, under the renewable energy service company model. The cumulative capacity includes 2900 kW rooftop capacity, 1000 kW ground-mounted capacity, and 225 kW elevated structure capacity. The last date to submit bids is January 3, 2025. Bids will be opened on January 8.

The Solar Energy Corporation of India (SECI) has invited quotations for a short-term working capital credit facility of up to ₹10 billion (~$118.23 million) to help it make payments to renewable energy developers. SECI seeks to raise a fund-based credit facility from the bank for one year with an added option to renew it for another year. Facility tie-ups can be done with multiple banks, but the maximum facility will be up to ₹12 billion (~$141.88 million) with a minimum tie-up of ₹500 million (~$5.91 million).

Ahmedabad-based Rajesh Power Services, a renewable and non-renewable energy solutions provider, has gone public with its Initial Public Offering (IPO) on the BSE SME platform. The IPO received an overwhelming response, with the issue being subscribed 59 times when it closed on November 27, 2024, and raised ₹1.6 billion (~$18.8 million).

The U.S. Department of Commerce announced its preliminary affirmative determinations in the anti-dumping duty investigations of crystalline photovoltaic cells, whether or not assembled into modules, from Cambodia, Malaysia, Thailand, and Vietnam. This move follows investigations stemming from concerns that manufacturers in these countries benefit from unfair government subsidies.