Jodhpur Vidyut Vitran Nigam has invited expressions of interest to set up 333.5 MW of solar projects along with associated 11 kV lines and remote monitoring systems under Component A of the Pradhan Mantri Kisan Urja Suraksha evem Utthan Mahabhiyan program. The last day to submit the bids is November 29, 2024. Bids will be opened on December 3. Bidders must submit a bid security of ₹100,000 (~$1,189)/MW. Selected bidders must submit a bid security of ₹100,000 (~$1,189)/MW. The projects must be commissioned within nine months of receiving the work order. Developers must also provide operation and maintenance services for 25 years.

Solar Energy Corporation of India (SECI) has invited bids to procure 1.2 GW of round-the-clock power from interstate transmission system-connected renewable energy projects. Bids must be submitted by December 16, 2024. Bids will be opened on December 19. Bidders must pay ₹50,000 (~$594.58) for the bid documents. Bidders must submit an earnest money deposit of ₹1.29 million (~$15,340). SECI will enter into a 25-year power purchase agreement with the successful bidders. Bidders must submit a single bid offering a minimum capacity of 50 MW and a maximum of 600 MW. The cumulative contracted capacity must be quoted in multiples of 10 MW only.

NTPC has invited bids to select developers to set up 1.2 GW interstate transmission system-connected wind-solar hybrid power projects with an additional 600 MW greenshoe option (Hybrid 03). The last day to submit the bids is December 2, 2024. Bids will be opened on the same day. Bidders must pay ₹1.16 million (~$13,797)/MW as an earnest money deposit. Selected bidders must furnish ₹2.9 million (~$34,492)/MW as performance bank guarantee before signing the power purchase agreement. Bidders must offer a minimum capacity of 50 MW or more for the projects. The rated power capacity of one resource (wind or solar) constitutes at least 33% of the total contracted capacity, with a maximum capacity of 600 MW.

Uttar Pradesh New & Renewable Energy Development Agency has invited bids under five tenders for a cumulative capacity of 23 MW on-grid and off-grid rooftop solar systems with battery backup for captive use in government buildings. The last date to submit the bids for the tenders is November 20, 2024. Bids will be opened on November 21. The cost of all the tenders is ₹11,800 (~$140). Bidders must pay a 2% earnest money deposit of the estimated cost. The security deposit is 5% of the work order value for all five tenders. The projects must be completed in four months. The scope of work for the five tenders covers designing, supplying, installing, commissioning, and providing five-year comprehensive warranties for the operation and maintenance of the rooftop solar systems.

Automotive component company Varroc Engineering (Varroc) will procure solar power from AMPIN‘s 27 MW group captive project in Maharashtra. The two companies signed a transaction document for the power procurement. AMPIN has set up multiple solar projects in Maharashtra, Karnataka, Uttar Pradesh, and Tamil Nadu. With the latest power purchase agreement, Varroc’s total contracted solar capacity with AMPIN reached more than 60 MW. This will enable Varroc to meet approximately 70% of its energy requirements with renewable energy.

Automotive components manufacturer CIE Automotive will procure power from ReNew Green‘s 7.8 MW captive solar power project. The company invested ₹36.03 million (~$428,460) in cash to purchase ReNew Green’s 924,000 shares, each with a face value of ₹10 (~$0.12) and a premium of ₹29 (~$0.34). This transaction has established ReNew Green as an associate company of CIE Automotive. Once operational, the solar power project will provide power exclusively to CIE Automotive’s manufacturing facilities in Maharashtra, supporting the company’s strategy to reduce power expenses at its plants within the state.

Solar energy company ACME Solar Holdings’ ₹29 billion (~$344.85 million) Initial Public Offering (IPO) will be launched on November 6, 2024, and close on November 8, 2024. The price band has been set at ₹275-289 (~$3.27-3.43) per equity share with a face value of ₹2 (~$0.023). Bids can be made for a minimum of 51 shares or in multiples of 51 equity shares. The IPO consists of a fresh issue of 1,1975 million shares at ₹2 (~$0.023)/share, amounting to ₹23.95 billion (~$284.80 million). It also includes an offer for sale of 2,525 million shares at ₹2 (~$0.023)/ shares amounting to ₹5.05 billion (~$60.05 million) from ACME Cleantech Solutions. The offer is being made through the book-building process.

Belgium-based John Cockerill will supply 1.3 GW of electrolyzers to AM Green’s one-million-ton green ammonia project. The company will supply the electrolyzers in two phases of 640 MW each for the production of green hydrogen and its conversion into green ammonia. As part of the agreement, the two companies will develop a 2 GW per year electrolyzer manufacturing plant in Kakinada, Andhra Pradesh This plant will supply the second phase of 640 MW of electrolyzers to the AM Green Kakinada project. CertifHy has certified the Kakinada facility as compliant with EU renewable fuels of non-biological origin requirements for green ammonia, including additionality and renewable energy timeliness.

Tata Power, an integrated power company, reported a record-high quarterly profit after tax of ₹15.33 billion (~$182.32 million) in the second quarter of the financial year 2025, a 51% year-over-year (YoY) increase. This was the 20th consecutive quarter of YoY profit growth for Tata Power. Quarterly revenue stood at ₹152.47 billion ($1.81 billion), reflecting a slight 1% YoY decline. However, earnings before interest, taxes, depreciation, and amortization grew by 23% YoY to ₹38.08 billion (~$452.9 million) on the back of ramped-up solar manufacturing, favorable regulatory development in distribution, and operational efficiency across businesses. The company has a ~12.4 GW renewable energy portfolio, including 6.5 GW in the pipeline.

U.S.-based solar module manufacturer First Solar announced its financial results for the third quarter ended September 30, 2024, revealing a mixed performance amid industry volatility and operational challenges. In Q3 2024, First Solar reported earnings per share of $2.91, missing the projected $3.10, and revenue of $887.7 million, below the expected $1.07 billion. This shortfall resulted from lower sales volumes and a $50 million warranty charge. However, revenue still grew by 10.8% year-over-year, showing strong demand. The company has updated its 2024 guidance, projecting net sales between $4.10 billion and $4.25 billion and an EPS range of $13.00 to $13.50.

China-based solar cell and module manufacturer JinkoSolar’s revenue dipped 23% year-over-year (YoY) to RMB24.51 billion (~$3.49 billion) in the third quarter (Q3) of 2024, primarily due to a drop in average selling prices for solar modules. Net income for the quarter was RMB22.5 million ($3.2 million), a decrease from RMB1.32 billion (~$185.39 million) in Q3 2023. Lower module prices also impacted gross profit, which fell 37.1% YoY to RMB3.86 billion ($549.4 million). Operating expenses rose by 20.3% YoY to RMB3.78 billion (~$538.7 million), mainly due to increased shipping costs for module deliveries and higher impairment charges on long-lived assets.