Solarworld Energy Solutions, Oriana Power, Rays Power Experts, and JSW Neo Energy (JSW Energy) won Rajasthan Rajya Vidyut Utpadan Nigam’s auction to set up 500 MW/1,000 MWh standalone Battery Energy Storage Systems (BESS). The projects will be eligible for Viability Gap Funding (VGF) of ₹2.7 million (~$31,226)/MWh or 30% of the project’s capital cost for each developer. The VGF for the greenshoe capacity will be discussed with the developers in the next stage.

The Ministry of New and Renewable Energy updated the approved list of models and manufacturers for solar photovoltaic modules, adding 3,015 MW of new capacity. The cumulative module manufacturing capacity stands at 67,401 MW. New entries to the list included BVG India adding 367 MW, KLK Ventures adding 33 MW, and SAN Energy and Solution adding 27 MW to the total added capacity.

Telangana Power Generation Corporation invited bids to set up a pilot project of 250 MW/500 MWh standalone BESS in Telangana. Developers will be eligible for viability gap funding of ₹2.7 million (~$32,114)/MWh or 30% of the project’s capital cost, whichever is lower.

India Grid Trust (IndiGrid), a power infrastructure investment trust, reported consolidated revenue of ₹7.72 billion (~$89.53 million) in the third quarter (Q3) of the financial year (FY) 2025, marking a 2.4% year-over-year (YoY) increase from ₹7.54 billion (~$87.45 million). The company’s earnings before interest, taxes, depreciation, and amortization jumped 2% YoY from ₹6.81 billion (~$78.96 million) to ₹6.94 billion (~$80.47 million).

Indian Energy Exchange (IEX) reported a consolidated revenue of ₹1.605 billion (~$19.32 million) for the Q3 of FY 2025, up 13.7% YoY from ₹1.412 billion (~$17.02 million). IEX had reported a consolidated revenue of ₹1.68 billion (~$20.1 million), an increase of 26.2% YoY in Q2. The third quarter’s consolidated profit after tax was ₹1.073 billion (~$12.91 million), a 16.9% increase from ₹918 million (~$11.06 million) in the same period last year.

Renewable energy company Adani Green Energy reported an 84.07% YoY growth in net profit for the Q3 of the FY 2025, reaching ₹5.43 billion (~$62.79 million), up from ₹2.95 billion ($34.11 million). The company’s revenue decreased 1.68% year over year to ₹26.3 billion (~$304.16 million) in Q3 FY 2025 from ₹26.75 billion (~$309.36 million). It reported an earnings per share of ₹2.92 (~$0.0337) at a face value of ₹10 (~$0.1156) per share during the quarter, up from ₹1.42 (~$0.016) in Q3 FY 2024.

Malaysia’s Ministry of Energy Transition and Water Transformation (PETRA) invited bids to develop 2 GW of large-scale solar (LSS) projects under phase V of its LSS PETRA+ program. Solar development capacity under the LSS PETRA+ program is expected to generate an investment of MYR8 billion (~$1.8 billion) and create 12,000 job opportunities within the renewable energy industry.