India generated around 104.83 billion units (BU) of solar power in the calendar year 2023, a 10.17% increase from 95.15 BU generated in 2022, according to the recent data published by the Central Electricity Authority (CEA). Solar generation has grown steadily since 2019. Consistent solar capacity additions throughout 2023 have supported the increase in generation during the year. Solar power generation during the fourth quarter (Q4) of 2023 was 18.06 BU, a fall of 27.5% year-over-year (YoY) from 24.91 BU.

NTPC Renewable Energy, a wholly owned subsidiary of NTPC, has invited bids for the balance of system package (BoS) for a 1,000 MW inter-state transmission system (ISTS)-connected wind energy project at Solapur in Maharashtra. The last date for submitting bids is March 15, 2024. Bids will be opened on the same day. The wind BoS package does not include the provision, construction, and setup of wind turbine generators, unit substations, and supervisory control and data acquisition. Bidders have to submit ₹22500 (~$271.16) as cost of the bidding documents.

Government-owned Power Finance Corporation recorded a net profit of ₹62.94 billion (~$758 million) during Q3 of the financial year (FY) of 2024, a 20% YoY increase. The public infrastructure financing company posted an income of ₹235.93 billion (~$2.8 billion), an increase of 19.9% YoY. The company recorded ₹213.1 million (~$2.5 million) in dividend income and an additional ₹679.7 million (~$8.1 million) as fees and other income.

Tata Power, an integrated power company, recorded a net profit of ₹10.76 billion (~$129.6 million) in Q3 of the financial year (FY) 2024, a growth of 2.2% YoY. The company reported a YoY net profit growth for the 17th consecutive quarter. Tata Power’s consolidated revenue stood at ₹148.41 billion (~$1.78 billion), an increase of 3% YoY. The increase in net profit and revenue growth primarily resulted from higher earnings in power generation, transmission, and distribution segments.

Enerture Technologies, Independent Business Machines, Success Impex, and Sunlive Solar have won Chandigarh Renewable Energy and Science & Technology Promotion Society’s CREST tender to build and operate grid-connected rooftop solar projects on government residential buildings. The tender for 4 MW of solar rooftop projects varying from 2 kW to 5 kW in Sector-1 to Sector-20 of Chandigarh was distributed equally between the four winners at the lowest quoted tariff of ₹58,000 (~$699)/kW on a turnkey basis.

SJVN Green Energy, a wholly owned subsidiary of SJVN, has invited bids for the construction of 132 kV transmission lines, including bays, for its 125 MW Jamui Phase-I solar project and 75 MW Banka solar project in Bihar. The last date for submission of bids is March 6, 2024. The bid security is ₹74.56 million (~$898,000), and the bid document fee is ₹5,900 (~$71). The completion period is nine months. Bidders should have executed a single 132 kV or above voltage class transmission line of at least 20 km route length as an engineering, procurement, and construction contractor in the last seven years.

The Ministry of Heavy Industries (MHI) has enhanced the budgetary outlay of the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME-II) program from ₹100 billion (~$1.20 billion) to ₹115 billion (~$1.38 billion) to encourage India’s transition to clean mobility. The subsidies for demand incentive will be eligible for electric two-, three-, and four-wheelers sold until March 31, 2024. As per the revised outlay, subsidies amounting to ₹70 billion ($843 million) have been allocated for electric vehicles.

The Ministry of Power has written to all states and union territories to adhere to the recently issued “Resource Adequacy Guidelines” to ensure sufficient growth in power generation capacity in line with the rapidly increasing electricity demand in the country. As per the guidelines issued in June last year, distribution companies were required to develop 10-year electricity demand forecasts and ensure adequate power supply to meet the projected peak demand.

Norway-based polysilicon manufacturer REC Silicon is shutting down polysilicon production at its Butte facility in Montana, U.S., owing to high electricity costs. The company said that a power-intensive polysilicon process located in a high electricity-cost region “will not allow for profitable operations.” It expects to reduce the workforce accordingly. “The decision to shut down the polysilicon business in Butte was very difficult from a human perspective because of the impact on REC’s workforce,” said CEO Kurt Levens in a statement.