The Punjab and Haryana High Court has cleared the decks for the privatization of electricity services in the Union Territory of Chandigarh, maintaining that it is not within the judiciary’s domain to decide whether a public policy is wise or a better one can be developed. While disposing of petitions by the UT Powermen Union and Federation of Sectors Welfare Association, the High Court rejected the contention that the union territory’s policy to privatize power distribution violates the Electricity Act, 2003. The High Court drew upon the Supreme Court’s pronouncements in the Bharat Aluminium Company privatization case.

The Gujarat Electricity Regulatory Commission (GERC) has approved tariffs for 101 solar power projects of Paschim Gujarat Vij Company (PGVCL) with a total capacity of 259 MW under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan program. The tariffs adopted range from ₹2.35 (~$0.028)/kWh to ₹3(~$0.036)/kWh.

Odisha Power Generation Corporation has invited bids for the engineering, procurement, and construction of a 50 MW solar power project on earth-capped ash pond-B at IB Thermal Power Station in Banharpalli, Odisha. The contractor must also oversee the project’s operation and maintenance for five years. The last day to submit the bids is December 30, 2024. Bids will be opened on the same day.

IndiGrid, British International Investment (BII), and the Norwegian Climate Investment Fund managed by Norfund have launched EnerGrid, a $300 million platform focusing on developing greenfield transmission and standalone Battery Energy Storage System (BESS) projects in India. Earlier this year, IndiGrid announced the company’s first phase of this partnership, under which BII and Norfund invested in three of IndiGrid’s existing greenfield transmission projects. IndiGrid, Norfund, and BII plan to invest $100 million each in the platform. This capital will enable EnerGrid to target projects worth approximately $1.2 billion over the next few years. After starting commercial operations, IndiGrid will fully acquire these projects at a pre-agreed enterprise value.

Microinverter and battery storage supplier Enphase Energy has unveiled a restructuring plan to align its workforce and cost structure with current market conditions and strategic priorities. The plan is in response to ongoing economic challenges in the solar industry. Enphase will reduce its global workforce by approximately 17%, affecting around 500 employees and contractors. The company will focus its contract manufacturing in four existing locations: two in the U.S., one in India, and one in China. Operations in Guadalajara, Mexico, will cease. Despite the changes, Enphase’s global capacity for microinverters will remain steady at approximately 7.25 million units per quarter, with about 5 million units of capacity in the U.S., it said in a regulatory filing.

Fuel cell and electrolyzer manufacturer Bloom Energy reported revenue of $330.4 million in the third quarter (Q3) of 2024, down 17.46% year-over-year from $400.3 million in Q3 2023, missing analyst expectations by $52.79 million. The company posted an earnings per share (EPS) of $0.06, missing estimates by $0.09. The decrease is attributed to the inherent variability in Bloom’s project-based business model. The company’s gross profit rose significantly to $78.7 million in Q3 2024, up from a gross loss of $5.2 million in the same quarter last year. This resulted in a substantial YoY increase in gross margin, which reached 23.8% this quarter, a 25.1% improvement from a negative 1.3% gross margin in Q3 2023.