JSW Energy won the Solar Energy Corporation of India’s auction to set up a 125 MW/500 MWh standalone battery energy storage system (BESS) in Kerala. JSW quoted a tariff of ₹441,000 (~$5,057)/MW/month. The tender was floated in December last year. JSW Energy will be eligible for viability gap funding of ₹2.7 million (~$30,963)/MWh or 30% of the project’s capital cost, whichever is lower.

India added 25.2 GW of solar capacity in the calendar year 2024, a 204% increase compared to the 8.3 GW added in 2023. According to Mercom India’s latest Q4 and Annual 2024 India Solar Market Update Report, this marks the highest annual capacity addition in the country’s history. This growth was driven by large-scale solar projects, which accounted for over 87% of the total capacity additions, with rooftop solar contributing the remaining 13%.

The Central Electricity Authority and the Ministry of Power released the captive status verification procedure for captive power projects (CGP) and their users in multiple states. The method applies to all power projects and consumers aiming for CGP and ‘associated captive users’ status. The captive status verification will be conducted annually. This status must be issued within two months of the applicant submitting the receipts. The verifying authority may seek clarifications on the submitted information. The applicant must inform the regional load dispatch centre (RLDC), state load dispatch centre (SLDC), and distribution licensees within fifteen days of the application submission.

Gujarat’s power distribution companies (DISCOMs) continued to top the Ministry of Power’s thirteenth annual integrated ratings with all four DISCOMs retaining their A+ ratings. In all, 42 state DISCOMs and 10 private DISCOMs, and 11 power departments of states, were evaluated for their performance across various metrics during the financial year 2024.

Solar energy consultancy and engineering, procurement, and construction solutions provider Gensol Engineering signed a ₹3.5 billion (~$40.1 million) non-binding term sheet to sell its U.S. subsidiary, Scorpius Trackers, to an undisclosed renewable energy solution provider. Gensol aims to unlock the subsidiary’s capital for reinvestment into its core growth assets and strengthen its financial position. The deal will be completed in two tranches, with full close expected by March 2026. It will enable the transfer of Scorpius Trackers’ global intellectual property rights to the U.S.-based buyer.

The renewable energy capacity installed in the Middle East and North Africa region reached 30.3 GW at the end of 2024, a 119% growth from 2020, according to the Renewables, Hydrogen, and Energy Storage Insights 2030 report by Dii Desert Energy. The 6.3 GW installed in the United Arab Emirates was the highest in the region, followed by Egypt (4.6 GW) and Saudi Arabia (4.5 GW).

The Energy Secretariat of Argentina’s Ministry of Economy launched a global tender for 500 MW battery energy storage system projects in the Metropolitan Area of Buenos Aires’ critical nodes. The project’s estimated value is $500 million, with an execution period of 12 to 18 months. The initiative aims to improve the electricity supply’s reliability and efficiency, particularly during peak demand hours.

Utility-scale energy storage firm Fluence Energy recorded a revenue of $186.8 million in the first quarter (Q1) of the fiscal year (FY) 2025, a 49% year-over-year decrease, well below the analysts’ estimate of $362 million. The company expects a significant portion of its revenue for FY 2025 to be recognized later in the year, leading to a lower-than-expected revenue figure in Q1. The company’s earnings per share also missed expectations, with a loss of $0.32 per share against per-share loss estimates of $0.19.

Israel’s Electricity Authority awarded contracts for 1,500 MW high-voltage energy storage capacity to Enlight, EDF, Noy Storage, B-Light, Allied, and Ormat. A total of 11 bidders participated in the tender, submitting proposals for 29 projects with a total capacity of approximately 4,000 MW for at least four hours of energy storage. The estimated investment in these facilities is around ₪3 billion (~$845.98 million).