The Gujarat Electricity Regulatory Commission has approved the power purchase agreement between Jubilant Infrastructure, a wholly owned subsidiary of Jubilant Ingrevia, and O2 Renewable Energy III, a subsidiary of O2 Power, for procuring 9 MW of wind-solar hybrid power. The power will be purchased at a tariff of ₹4.13 (~$0.04)/kWh.

Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has invited Expressions of Interest to set up floating solar projects at 35 dams and reservoirs in Uttar Pradesh. Bids must be submitted by January 20, 2025. Bids will be opened on January 21. UPNEDA is the nodal implementing agency under Uttar Pradesh Solar Energy Policy 2022, which aims to add 22,000 MW of solar energy by 2027. Of this, 14,000 MW is targeted for large-scale solar power projects.

Government-owned lender Indian Renewable Energy Development Agency reported an increase in loan approvals and disbursements for the year ending December 31, 2024. Loan approvals surged to ₹310.87 billion (~$3.6 billion) as of December 31, 2024, compared to ₹135.58 billion (~$1.58 billion) in the corresponding period of 2023, marking a 129% increase. Loan disbursements grew by 41%, reaching ₹172.36 billion (~$2 billion) in 2024, up from ₹122.20 billion (~$1.42 billion) in 2023.

Sunairio, a weather intelligence platform developer for renewable energy prediction, announced the closing of an oversubscribed $6.4 million funding round. This closing brings the total funding raised by the company to date to $8.8 million. The funding round was led by Buoyant Ventures, Constellation Technology Ventures, and MassMutual Ventures’ Climate Tech Fund, with additional participation from Rosecliff Ventures and existing investors.

Enlight Renewable Energy, a renewable energy project developer, announced the closing of $550 million debt financing for the project Roadrunner, located in the Sulphur Springs Valley region near Tuscon, Arizona. The project, also known as Apache Solar II, consists of 200 MW of solar and 940 MWh of energy storage capacity. The construction at the project site has already begun, and the project is expected to reach commercial operation by the end of 2025.

Electric vehicle (EV) sales in India reached a record 1.95 million units in 2024, an over 27% growth year-over-year against the 1.53 million units sold in 2023. EVs accounted for 3.6% of overall automobile sales, according to data released by the Ministry of Road Transport and Highways through its Vahan Dashboard. The EV market consistently surpassed the 100,000-unit mark every month, with October registering the highest sales at 219,527 units, followed by March with 213,068 units and November with 192,681 units.

The Power Grid Corporation of India has established a joint venture with Rajasthan Rajya Vidyut Prasaran Nigam to develop Rajasthan’s intrastate transmission system. The joint venture, Rajasthan Power Grid Transmission Company, aims to address the state’s growing energy needs and ensure a more reliable and robust electricity distribution network.