The Central Electricity Authority (CEA) greenlighted Detailed Project Reports (DPRs) of six pumped hydro storage projects (PSPs) with a total capacity of 7.5 GW. The DPRs were approved for the Upper Indravati (600 MW) in Odisha, Sharavathy (2,000 MW) in Karnataka, Bhivpuri (1,000 MW) in Maharashtra, Bhavali (1,500 MW) in Maharashtra, MP-30 (1,920 MW) in Madhya Pradesh, and Chitravathi (500 MW) project in Andhra Pradesh were approved. The CEA has set a target to approve a minimum of 13 PSPs of about 22 GW during 2025-26. Most of these PSPs are targeted to be commissioned in four years and, at the latest, by 2030.

To understand how the savings in electricity bills from installing solar can have a multiplier effect if reinvested intelligently, there is a classic example in the experience of an agro foundry in Karnal, Haryana. Back in 2020, Universal Steel Discs, which manufactures agricultural implements like harrow discs, cultivators, and ploughs, opted to go solar by installing a 280 kW rooftop solar system. Currently, the company has a cumulative 1,530 kW solar installation, over five times the capacity of the first system, and is on the cusp of achieving energy neutrality.

Kolkata-based solar cell manufacturer and solar solutions provider Jupiter International secured a ₹5 billion (~$58.07 million) investment from ValueQuest SCALE Fund. The investment will be utilized to expand its manufacturing capacity. The company has a 1 GW facility in Baddi, Himachal Pradesh. It plans to expand its total manufacturing capacity to 5.6 GW of solar cells and 2.4 GW of solar modules. The present funding round and internal accruals will support its ongoing capital expenditure program.

Waaree Energies announced an expansion of its solar module manufacturing operations in the U.S. The company will set up an additional 1.6 GW capacity solar module manufacturing unit at its existing facility in Brookshire, Texas. With this move, Waaree’s total manufacturing capacity in the U.S. will increase to 3.2 GW. The company’s Board of Directors has approved the expansion as a part of its broader strategic plan to strengthen its position in the American market.

Electrical equipment manufacturer Havells announced it will invest ₹6 billion (~$69.9 million) for an equity stake of between 8.9% and 9.24% in solar component manufacturer Goldi Solar. The investment will help Havells source solar modules and cells from Goldi Solar, Havells said in a BSE filing. The transaction is expected to be completed by June 30, 2025. The transaction will have to be approved by the Competition Commission of India.