The Assam Electricity Regulatory Commission (AERC) has released draft guidelines for implementing group and virtual net metering frameworks for renewable energy systems. These guidelines, set to effect upon issuance, aim to promote the adoption of renewable energy and provide more flexible options for consumers. The Commission has invited comments and suggestions from stakeholders by October 3, 2024. Group net metering allows surplus energy generated from a renewable energy system or battery energy storage system charged through renewable energy to be exported to the grid and adjusted across multiple electricity service connections of the same consumer within the distribution licensee’s area of supply.

Insolation Green Energy, a wholly owned subsidiary of Insolation Energy, has broken ground on its 3 GW solar PV module facility and a 12,000 MTA aluminum frame plant in Sawarda, Jaipur, Rajasthan. The company said it invests ₹4 billion (~$47.6 million) in its third manufacturing facility. The facility will produce 3 GW of n-type and ToPCon solar panels and 12,000 metric tons of aluminum frames annually. The facility will cover 109,000 square meters and is expected to create over 800 jobs, contributing towards the region’s economic growth. The company said the solar panels will adhere to international and Indian standards like IEC, Approved List of Models and Manufacturers, and Bureau of Indian Standards, ensuring high quality and reliability.

Haryana-based electric bus company JBM Ecolife Mobility has secured $100 million in funding from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). These funds will be used to supply and operate electric buses under the Gross Cost Contract model in states across India. The company plans to deploy 650 e-buses, starting with Haryana and Odisha. The funding was obtained after thorough Environmental, Social, and Governance audits by approved consultants. JBM has deployed over 1,500 electric buses across ten states and 15+ major airports in India. The company has an order book of 6,500+ electric buses deployed and under execution.

Engineering company Carborundum Universal has invested ₹80 million (~$954,426) for a 4.19% stake in New Delhi-based Grian Energy (GEPL) which is setting up a renewable energy project. The investment will allow Carborundum to access the contracted capacity of around 10 MW in GEPL’s captive power project, for which it has entered into a power purchase agreement. GEPL has proposed developing and operating a captive power project to supply electricity—solar and wind—which will be used to meet Carborundum’s power requirements. The acquisition is expected to be completed by March 2025. The company entered into a share subscription and shareholders’ agreement with GEPL and its parent company Amplus Energy Solutions, to acquire the shares.

Automotive component manufacturer Samvardhana Motherson International (SAMIL), through its wholly-owned subsidiary MSSL Consolidated, is acquiring up to 3.64 million Class A shares in Israel-based e-mobility company REE Automotive for $4.122 per share, resulting in a total investment of $15 million. The company has announced the purchase of 11% stake on a fully diluted basis and up to 19% on a non-diluted basis in REE Automotive. The transaction is expected to be completed within 30 days. REE Automotive is engaged in designing, developing, and integrating vehicle components into a modular platform for commercial electric vehicles with applications in mid and last mile delivery.