Jaipur Vidyut Vitran Nigam issued an expression of interest for implementing 112.6 MW of decentralized solar projects in Rajasthan under Component A of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyaan (PM-KUSUM). Bids must be submitted by April 24, 2025. Bids will be opened on April 28.

Singareni Collieries Company, a government-owned coal mining company, floated two tenders to develop solar projects with a cumulative capacity of 137 MW, in Telangana.

The Assam Power Distribution Company invited bids to develop a 400 kV/33 kV pooling substation for a 1 GW solar power project in Assam. The last date to submit bids is May 5, 2025. Bids will be opened on the same day.  The project entails the design, engineering, manufacture, erection, and commissioning of the pooling substation for the 1 GW solar project in Karbi, Anglong district. The project must be completed within 18 months.

Solar power generation experienced sudden dips between December 2024 and February 2025 due to cloud cover over large swathes of northern India, resulting in demand-supply gaps that led to low frequency and localized high voltages in the grid. Solar generation experienced significant drops from the previous day on seven occasions during the three-month period. The highest drop was seen on February 25, when the difference in generation from the previous day was 33.33%.

Adani New Industries, a subsidiary of Adani Enterprises, incorporated a wholly owned subsidiary for solar manufacturing, Adani New Industries One, investing ₹100,000 (~$1,167) for 10,000 equity shares. In a BSE filing, the company stated that the subsidiary will trade and supply all types of components, equipment, and materials for solar and wind energy manufacturing, including solar panels, inverters, wind turbines, blades, and related equipment.

Government-owned lender Indian Renewable Energy Development Agency (IREDA) raised ₹9.1 billion (~$106.16 million) by issuing privately placed subordinated Tier II bonds. This financing is for a 10-year tenure at an annual coupon rate of 7.74%. The issuance of Tier-II Bonds aims to tap into the current financial market’s liquidity and support the company’s borrowing plan. IREDA aims to use the funds to enhance its Tier-II capital to increase its net worth and capital risk-weighted assets ratio.

Gurugram-based renewable energy services company BluPine Energy secured ₹17.87 billion (~$210 million) in structured financing from the National Bank for Financing Infrastructure and Development (NaBFID). The transaction is structured around creating a restricted group of 14 special purpose vehicles spanning Punjab, Uttarakhand, and Karnataka, with a mix of central and state off-takers. BluPine Energy aims to use the funds to optimize its financial structuring, enhance operational efficiency, and drive long-term portfolio expansion.

Independent power producer AMPIN Energy Transition secured an investment of $50 million (~₹4.28 billion) from Siemens Financial Services, the financing arm of Siemens AG. The investment will strengthen AMPIN’s position in India’s renewable energy transition. It will also fuel the company’s growth in commercial and industrial, and utility-scale renewable energy projects. The transaction is AMPIN’s third major investment this financial year, bringing the total equity capital raised to $270 million (~₹23.12 billion) this year.

Global alternative asset management firm TPG acquired a majority stake in Siemens Gamesa’s onshore wind turbine manufacturing business in India and Sri Lanka. Following the transaction, a new independent company will be established to build a business to manufacture, install, and service onshore wind turbines to capitalize on India’s wind market potential. Siemens Gamesa will divest 90% of its wind business in India and Sri Lanka, retaining a 10% stake in the transferred business.