The Central Electricity Regulatory Commission proposed amendments to its Power Market Regulations, 2021, to expand the scope of over-the-counter (OTC) power markets. An OTC market is a decentralized marketplace where financial instruments are traded directly between two parties without the use of an intermediary platform. The OTC market now includes delivery-based energy contracts, capacity contracts, renewable energy certificates, contracts related to virtual power purchase agreements, battery energy storage system contracts, and power banking.

The Haryana Electricity Regulatory Commission approved Haryana Power Purchase Centre’s procurement of 400 MW firm and dispatchable renewable energy from NHPC through interstate transmission system-connected projects with an energy storage system at a tariff of ₹4.44 (~$0.051)/kWh. The Commission also approved a trading margin of ₹0.07(~$0.00081)/kWh.

The Gujarat Electricity Regulatory Commission granted a 465-day extension to set up an evacuation line along with bays and a metering system for a 100 MW wind-solar hybrid power project in Gujarat. The Commission accepted that the delays were due to unforeseen and uncontrollable events, such as uncertainty surrounding the designation of the lead generator, delays in vendor approval for gas-insulated substation equipment, and setbacks in obtaining approval for common engineering drawings, which are not attributable to the petitioner.

The Bihar Electricity Regulatory Commission approved the tariffs for 312 MW of wind power projects and the draft power sale agreements to be signed between Bihar State Power Holding Company and SJVN, the intermediary procurer. The wind power will be from interstate transmission system-connected projects, with 200 MW to be procured from NLC India at a discovered tariff of ₹3.74 (~$0.043)/kWh, and 112 MW from Adyant Enersol at a tariff of ₹3.81 (~$0.044)/kWh. The Commission also approved a trading margin of ₹0.07 (~$0.0008)/kWh to be paid to SJVN in addition to the discovered tariffs.

The Rajasthan Electricity Regulatory Commission approved the tariffs for 500 MW/1000 MWh standalone Battery Energy Storage Systems. The approved tariffs range from ₹221,000 ($2,561)/MW/month to ₹224,000 ($2,597)/MW/month. The petition was filed by the Rajasthan Rajya Vidyut Utpadan Nigam (RRVUNL) seeking approval for adopting the tariffs discovered for the standalone BESS project under a tariff-based global competitive bidding process.

Mahatma Phule Renewable Energy and Infrastructure Technology issued a request for proposal to implement 500 MW of rooftop solar projects at multiple locations in Maharashtra, Goa, Gujarat, Uttar Pradesh, and Andhra Pradesh. The tender has a 50% greenshoe option. The estimated average cost of the projects per MW is ₹37.5 million (~$434,402.25). Bids must be submitted by July 15, 2025. Bids will be opened on July 16. The scope of work entails the design, engineering, finance, supply, installation, testing, and commissioning of the solar projects. It also involves connecting the projects to the existing mains/ACDB and interfacing the internal electrical loads with the distribution licensee’s network and electrical loads.

NHPC invited bids on behalf of NHPC Renewable Energy to select developers to set up 23.33 MW of rooftop solar power projects on government buildings in Jammu and Kashmir under the Renewable Energy Service Company mode. The last date to submit bids is July 16, 2025. Bids will be opened on July 21. The scope of work entails setting up rooftop solar power projects in 279 buildings of the Departments of Law, Justice & Parliamentary Affairs, Jal Shakti, Irrigation & Flood Control, Forest, Ecology & Environment, and Home in J&K through the Jammu & Kashmir Energy Development Agency.

The Ladakh Power Development Department issued a request for selection for developing a 7 MW ground-mounted and canal-mounted grid-connected solar project integrated with a 9 MWh battery energy storage system at the 4 MW Stakna Hydel Power Facility site in Leh, Ladakh. Bids must be submitted by July 5, 2025. Bids will be opened on July 7. The scope of work encompasses the engineering, procurement, and construction of the project. It also entails the operation and maintenance of the project for 25 years.

Bengaluru-based electric motorcycle manufacturer Oben Electric raised an additional ₹500 million (~$5.8 million) in May 2025 through an extended Series A funding round. The extended round saw participation from new and existing investors, including Helios Holdings, the Sharda family office, and the Kay family. This follows the company’s initial Series A funding of ₹500 million (~$5.8 million) secured in January 2025, increasing the total amount raised in this round to ₹1 billion (~$11.6 million).

Singapore-based Bila Solar officially began production of U.S. domestic content modules at its newly launched manufacturing facility in Indianapolis, Indiana. The company said that this step marks its entry into full-scale U.S.-based solar manufacturing, utilizing American-made solar cells to produce high-efficiency panels. It announced its plans to establish a facility to produce 1 GW of advanced, glassless, and frameless solar modules annually in September 2023.

The California Energy Commission approved the Darden Clean Energy Project’s 4,600 MWh battery energy storage system (BESS) in Fresno County’s western region. The BESS is owned by IP Darden I, a subsidiary of Intersect Power. The project will be established on 9,500 acres of land that is unfit for agricultural production. It will include a 1,150 MW solar system comprising approximately 3.1 million panels.

Yaskawa America, which manufactures solar inverters and industrial robots, is investing $180 million to expand and consolidate its facilities into a single campus in Franklin, Wisconsin, over the next eight to ten years. The project includes relocating its North American headquarters and training facility from Waukegan, Illinois. In addition to solar inverters for various sectors, such as semiconductors, machine tools, automotive, HVAC, pumping, and oil and gas, Yaskawa America produces motion control devices and AC drives for low- and medium-voltage applications.