The Assam Electricity Regulatory Commission has released the draft of the Assam Electricity Regulatory Commission (Deviation Settlement Mechanism and Related Matters) Regulations, 2024. The regulations, which will take effect on April 1, 2025, aim to streamline the deviation settlement process, enhance grid reliability, and more effectively integrate renewable energy sources into Assam’s power system. The AERC has invited feedback from individuals and corporate bodies by November 12, 2024.

The Ministry of New and Renewable Energy has allocated an additional financial outlay of ₹9.15 billion (~$108.82 million) to provide off-grid solar systems for 100,000 households in particularly vulnerable tribal group areas. The program will be executed under the Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan and Pradhan Mantri Janjatiya Unnat Gram Abhiyan. The program has been introduced along with the continued allocation of funds of ₹241.04 billion (~$2.86 billion) under the previous program. Previously, under the PM JUGA, ₹4 billion (~$ 47.56 million) was also allocated to provide off-grid solar power plants in 2,000 public institutions.

Bihar State Power Generation Company has invited bids to develop ground-mounted solar projects with a total capacity of 20 MW. The individual project sizes can range from 2 MW to 20 MW and must be installed on private ponds using raised mounting structures under the renewable energy service company (RESCO) model. The last day to submit the bids is November 12, 2024. Bids will be opened on the next day.

The Bilaspur Division – Electrical of the South East Central Railway has issued a tender to set up a rooftop solar project of 2 MW in the CAPEX mode. The last date to submit the bids is November 13, 2024. Bids will be opened the same day. Bidders must submit an earnest money deposit of ₹583,200 (~$6,936). The advertised value of the tender is ₹86.6 million (~$1 million).

NTPC Vidyut Vyapar Nigam has invited bids to develop 4.73 MW grid-connected rooftop solar systems at various locations under the Bhakra Beas Management Board. The last date to submit the bids is November 12, 2024. Bids will be opened on November 13. Bidders must pay a bid security of ₹2 million (~$23,789). The successful bidders will be responsible for the design, engineering, supply, civil construction, erection, testing, and commissioning of the rooftop solar systems, connecting to existing mains/ACDB/feeder pillars and interfacing internal electrical loads of the project’s license’s network/electrical loads.

Hindustan Petroleum Corporation has invited bids for the supply of 5,000 tons (5 KTPA) of green hydrogen per year to its Visakh Refinery for 25 years. The last date for the submission of bids is January 21, 2025. Bidders must submit an earnest money deposit of ₹10 million (~$118,944). Bidders must select the project location, acquire land, and construct the Green Hydrogen Generation Unit with electrolyzers, power systems, and purification units. They must also conduct surveys to connect pipelines from the GHGU to the delivery point at HPCL’s refinery. This includes acquiring rights of way and ensuring compatibility with HPCL’s hydrogen distribution network.

OHM Global Mobility, a subsidiary of commercial vehicle manufacturer Ashok Leyland, has secured an order for 500 12-meter ultra-low floor electric buses (e-buses) from the Chennai Metropolitan Transport Corporation. Switch Mobility, another subsidiary of Ashok Leyland, will supply EiV12 model buses to OHM, which will then operate and maintain the buses for 12 years, per the contract MTC awarded. A 650V electric architecture features IP67-rated batteries that power the SWITCH EiV12. Out of the 500 buses, 100 buses are air-conditioned.

Real estate developer Brookfield Properties has said tenants in four office campuses it owns in the Delhi-NCR are sourcing 40% of their energy requirements from its 550 MW solar project in Bikaner, Rajasthan, under the interstate transmission system arrangement. Brookfield said in a regulatory filing that the transition to solar energy will impact tenant spaces in its four office spaces in Gurugram and Noida, which total 1.4 million square feet. The move is expected to reduce more than 20,000 metric tons of CO2 annually. Brookfield Properties is part of Brookfield Group, which invests in renewable energy and transition assets.

Solar module manufacturer Waaree Energies’ ₹43.21 billion (~$513.95 million) initial public offering garnered strong investor interest from institutional and retail buyers. At the end of the bidding window on October 23, 2024, the issue was oversubscribed 76 times. Priced between ₹1,865 (~$22.18) and ₹1,960 (~$23.31) per share with a lot size of seven shares, the IPO saw bids for 1.6 billion shares, significantly exceeding the 21.08 million shares on offer. According to data from the NSE, this resulted in a 76.34 times oversubscription. Qualified institutional buyers led the demand, with a subscription rate of 208.63 times, followed by non-institutional investors at 62.37 times. The retail investor portion was subscribed 10.61 times.

Microinverter and battery storage supplier Enphase Energy reported a revenue of $380.9 million in the third quarter of 2024, a 31% drop from $551.08 million a year ago. The company faced weakening demand in Europe, where revenue fell by 15%. Despite this, U.S. sales surged 43% quarter-over-quarter as inventory normalization boosted shipments. Net income for the quarter also fell by 38% to $88.4 million from $141.85 million last year.

U.S.-based electric vehicle and clean energy company Tesla’s revenue for the third quarter of 2024 rose 8% year-over-year (YoY) to $25.18 from $23.35 billion on the back of growth in vehicle deliveries and energy generation and storage services. The company also saw an 8% YoY rise in net profit from $2.32 billion to $2.5 billion. Earnings before interest, taxes, depreciation, and amortization (EBITDA) also rose by 24% to $4.67 billion in Q3 2024 from $3.76 billion in the same quarter last year.

U.S.-based renewables firm NextEra Energy reported a net income of $1.85 billion for the third quarter of 2024, a 52.8% increase from $1.21 billion in the same period of 2023. Earnings were $2.12 billion, up from $1.92 billion, an increase of 10.4% year-over-year.