China’s long role as an invisible stabilizer in the silver market is starting to break down. For years, whenever the West ran short of metal, flows from China quietly eased the strain. However, that era may be at risk of ending, and with it, the world may be moving into a prolonged phase of silver scarcity. The source of this pressure is the changing nature of demand. Silver has always been a workhorse of the electrical and electronics industries. In the past few years, AI data centers, high-end semiconductors, and solar power have all relied heavily on silver’s unparalleled electrical and thermal conductivity.

India’s solar open access market saw a series of policy actions that shaped procurement trends throughout the quarter. The country added 6.1 GW of solar open access capacity in the first nine months of 2025, a 13% year-over-year increase from 5.4 GW, according to Mercom India’s Q3 2025 Solar Open Access Market Report. In the third quarter (Q3) alone, 2.2 GW of solar open access capacity was added. Cumulative solar open access installations reached 27.9 GW as of September 2025. Policy updates at the central and state levels influenced project development timelines, open access charges, and market participation across key regions.

The Madhya Pradesh Electricity Regulatory Commission released the fifth draft amendment to the Madhya Pradesh Electricity Regulatory Commission (Co-Generation and Generation of Electricity from Renewable Sources of Energy), (Revision-II), Regulations, 2021. The Commission has mandated obligated entities, including distribution companies, open access consumers, and captive power users, to adhere to a specific renewable purchase obligation. Stakeholders can submit their suggestions, objections, and comments by December 30, 2025. The Commission will hold a public hearing on the draft amendments by January 1, 2026.

Krishna Milk Union, an Andhra Pradesh dairy cooperative, commissioned a 650 kW rooftop solar installation at its plant in Veeravalli, Krishna District, reinforcing its long-term sustainability vision while lowering energy costs. Executed by Eshaan Energy, the project uses RenewSys N-Type 600 Wp modules paired with Sungrow string inverters, mounted on reinforced cement concrete structures for optimized performance and durability. Before adopting solar, the dairy’s average daily energy consumption stood at around 6,000 units. With the new system in place, KMU expects to reduce its electricity bills by nearly 50%, significantly strengthening operational efficiency.

The New and Renewable Energy Development Corporation of Andhra Pradesh issued a request for selection of engineering, procurement, and construction contractors to develop 233.33 MW of grid-connected rooftop solar systems under PM Surya Ghar: Muft Bijli Yojana. The project aims to install rooftop solar projects of up to 2 kW each for 116,663 Scheduled Caste and Scheduled Tribe consumers across Andhra Pradesh. Bids must be submitted by December 15, 2025. Bids will be opened on December 16. The scope of work includes site surveys, design, engineering, supply, installation, testing, and commissioning of rooftop systems, conducting civil/structural, electrical, and general works, including piping and cabling, for the projects, and mandatory five-year operation and maintenance.

SJVN floated a tender to set up 2,000 MW of energy storage capacity from pumped storage projects across India. The storage capacity will have eight hours of discharge with a maximum of five hours of continuous discharge. Bids must be submitted by January 27, 2026. Bids will be opened on January 30. The scope of work entails the financing, development, design, engineering, procurement, construction, and commissioning of the energy storage system (ESS). It also involves providing operation and maintenance services.

Government-owned lignite mining and power generation company NLC India (NLCIL) secured a green loan of ¥154.64 billion (~$100 million) from Sumitomo Mitsui Banking Corporation under a recently signed external commercial borrowing framework. The funding will be utilized to support capital expenditure for renewable energy projects through NLCIL’s subsidiary, NLC India Renewables, to help optimize margins and accelerate its green energy initiatives. NLCIL said the funding is part of its Corporate Plan 2030 to support achieving 10 GW of renewable energy capacity and increase its portfolio’s ‘green share’ to 50% by 2030.

Energy efficiency solutions provider Smart Joules raised $10 million in Series B funding led by SVL SME Neev II Fund managed by SBI Ventures, Waaree Renewable Technologies, and Spectrum Impact. The investment will accelerate Smart Joules’ next phase of growth as it scales across India’s commercial and industrial sector. The funds will be directed toward expanding its energy efficiency and cooling operations into newer sectors and larger-scale projects, including manufacturing, building automation, and district cooling, while further strengthening the company’s technology, analytics, and on-ground execution capabilities.

Chennai-based engineering, procurement, and construction firm Kshema Power secured an order from Oyster Green Hybrid Three to develop a 33 kV/220 kV transmission line and an air-insulated substation for a 350 MW wind-solar hybrid project in Madhya Pradesh. Oyster Green Hybrid Three is a special-purpose vehicle promoted by independent power producer, Oyster Renewable, established to develop, own, and operate large-scale renewable energy projects in India. The project entails the supply, erection, testing, and commissioning of a 51-kilometer transmission line, along with the design, engineering, supply, installation, civil works, testing, and commissioning of an air-insulated substation. The project is expected to be commissioned by July 2026.

REC Power Development and Consultancy issued a request for proposal to select a transmission service provider to build, own, operate, and transfer a 765/400/220 kV AIS intrastate transmission project in Apta, Raigad, Maharashtra. This project is planned to accommodate the envisaged exponential growth in data center load in the Navi Mumbai area. It will also facilitate a reliable power supply to green hydrogen production and utilization projects. Bids must be submitted by February 9, 2026. Bids will be opened on the same day. The project includes a new air-insulated 765/400/220 kV Apta substation equipped with 3 x 1500 MVA 765/400 kV inter-connecting transformers (ICTs), 2 x 500 MVA 400/220 kV ICTs, a 240 MVAr 765 kV bus reactor, a 125 MVAr 400 kV bus reactor, associated ICT, line, reactor, bus coupler, and transfer bus coupler bays, and space provision for future bays and ICTs.

Solar accounted for 40% of all job additions in the power sector worldwide in 2024, with almost three-quarters in China. Around 3.5 million workers were employed in the manufacturing of system equipment, such as inverters, solar panels, generators, and batteries, according to the International Energy Agency’s World Energy Employment 2025. In 2024, global energy employment grew at a faster pace than the broader economy for the third year in a row. Jobs in the energy sector increased by 2.2% YoY, totaling 76 million. Emerging markets and developing economies led the growth in the power sector in 2024.