According to Mercom’s Q3 2024 India Solar Market Update report, the top five funding deals in India’s solar sector in 2024 saw a 42.85% year-over-year increase, securing a cumulative $2 billion compared to $1.4 billion in 2023. Project financing constituted most of the top deals, with Avaada Energy taking the prime spot.

Bharat Petroleum, Onward Solar, ReNew Solar Power, Illuminate Hybren (Mahindra Susten), and Adyant Enersol (Datta Infra) won NTPC’s auction to set up 1,200 MW interstate transmission system-connected solar power projects. Dineshchandra R Agrawal Infracon is eligible for 96 MW out of the quoted capacity of 300 MW at a tariff of ₹2.70 (~$0.0318)/kWh, under the bucket-filling method. However, the bid is yet to be confirmed as the tariff is beyond 2% of the lowest tariff.

The landed cost of third-party solar open access projects of high-tension industrial consumers increased in 12 of the 15 states included in Mercom’s recently released Q3 2024 India Solar Open Access Market Report. The cost increase was primarily driven by a rise in power purchase agreement prices. In the Q3 of the calendar year 2024, India added about 1.1 GW of solar open access capacity, down 36% quarter-over-quarter and 6.5% year-over-year.

The Madras High Court has struck down a notification imposing a ₹5 million (~$58,812)/MW “resource charge” on new wind energy projects in Tamil Nadu connected to the central transmission network, deeming it arbitrary, illegal, and unconstitutional. The court stated that the Tamil Nadu Green Energy Corporation, acting merely as a nodal agency, lacked the statutory authority to impose the resource charge. The court also noted that such a levy violated constitutional protections, including the prohibition against taxation without legislative authority.

Terra Clean, a subsidiary of Indian Oil Corporation, has floated tenders for the land and connectivity approval packages for a cumulative 600 MW of interstate transmission system-connected solar power projects. Separate tenders have been issued for a 300 MW captive solar project and a 300 MW non-captive solar project to be developed anywhere in India. Bids for both the tenders must be submitted by January 16, 2025. Bids will be opened on the same day.

SJVN Green Energy, a wholly-owned subsidiary of SJVN, has invited bids to develop 1,352 MW solar projects distributed across 102 sites in Maharashtra. These projects are being implemented under the Mukhyamantri Saur Krishi Vahini Yojana (MSKVY) 2.0. The last day to submit the bids is January 16, 2025. Bids will be opened on the same day. Bidders must submit a bid processing fee of ₹1.5 million (~$17,634) and an earnest money deposit of ₹1.27 million (~$14,930)/MW.

NHPC has invited bids to install a cumulative capacity of 1,098 kW of rooftop solar power projects on buildings across its North-East Power Stations under the PM Surya Ghar: Muft Bijli Yojana. Bids must be submitted by January 15, 2025. Bids will be opened on January 21. Bidders must submit an earnest money deposit of ₹ 1.14 million (~$13,740). Selected bidders must design, supply, install, test, and commission the rooftop solar systems. They must also provide five years of comprehensive operation and maintenance services.

The Telangana Electricity Regulatory Commission has issued a comprehensive procedure for verifying the status of captive power generating plants (CGPs) and their associated captive users within the state. The Commission issued a detailed draft procedure in September. The primary objective of this procedure is to verify the status of CGPs and captive users located in Telangana.