The Maharashtra Electricity Regulatory Commission (MERC) has given the green light for the Maharashtra State Electricity Distribution (MSEDCL) to procure an additional 5,991 MW of solar power through competitive bidding. The decision aims to meet the state’s Renewable Purchase Obligation (RPO) and provide daytime power to farmers across Maharashtra. The procurement is part of the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0), a government initiative to solarize at least 30% of agricultural feeders by December 2025.

Weather vagaries like inadequate wind speeds and decreased irradiance can adversely impact wind and solar generation. Weather-based parametric risk insurance is gradually gaining ground in India’s renewable energy sector. Insurance companies have been tailoring their products to meet the needs of the renewable energy sector. In an exclusive interview with Mercom India, Sarathy Srinivas, Head of International Projects, WRMS, shares his insights on parametric insurance and his company’s insurance offerings for the renewable energy sector.

NHPC has invited bids to install rooftop solar projects of a cumulative capacity of 7,684 kW on its buildings under PM Surya Ghar: Muft Bijli Yojana. The last date to submit the bids is October 29, 2024. Bids will be opened on November 6. The engineering, procurement, and construction of the projects must be completed in nine months. The successful bidder will be responsible for the comprehensive operation and maintenance for five years from the project’s commissioning date. The projects must be executed in Jammu and Kashmir (Zone 1) with a total capacity of 4,102 kW, Himachal Pradesh (Zone 2) with a total capacity of 1,710 kW, Uttar Pradesh (Zone 3) with a total capacity of 774 kW, and Sikkim, West Bengal and Manipur (Zone 4) with a total capacity of 1,098 kW.

SJVN has invited bids to install a cumulative capacity of 5,830 kW of grid-connected rooftop solar power systems. These projects will be installed on Union Government buildings across several states, including the National Capital Territory of Delhi, Madhya Pradesh, Uttar Pradesh, Haryana, Gujarat, Maharashtra, and Rajasthan. The initiative is being carried out under the PM Surya Ghar: Muft Bijli Yojana and follows the RESCO (Renewable Energy Service Company) model. The last date for the submission of bids is October 16, 2024. Bids will be opened the same day.

Power Grid Corporation of India (POWERGRID) has won a project to provide reactive compensation for an inter-state transmission (ISTS) project in Gujarat from PFC Consulting, a wholly-owned subsidiary of Power Finance Corporation (PFC). The project involves the provision of dynamic reactive compensation at Khavda Pooling Station 1 (KPS1) and Khavda Pooling Station 3 (KPS3). It has been awarded through a tariff-based competitive bidding process, and the system will be established on a build, own, operate, and transfer basis. The project includes installing Static Synchronous Compensators at KPS1 and KPS3 and the related bay extension work. These installations are crucial to maintaining voltage stability and improving the overall efficiency of the power transmission network in the region.

Gurgaon-based Delectrik Systems, an energy storage technology company, has been awarded a contract by NTPC for its NTPC Energy Technology Research Alliance to implement a 3 MWh Vanadium Redox Flow Battery (VRFB) based Battery Energy Storage System. This VRFB system will serve as a long-duration energy storage solution, enhancing NETRA’s microgrid capacity to achieve full autonomy for an entire day, moving it closer to energy self-sufficiency. The installation will utilize Delectrik’s newly introduced large-scale product architecture, designed for significant commercial, industrial, and utility applications. This system is set to be deployed at the NETRA campus in Greater Noida in the first half of 2025.

Government coal-mining company Singareni Collieries has floated a tender for the preparation of a detailed project report (DPR) for 500 MW round-the-clock firm and dispatchable renewable energy in Telangana, Karnataka, and Andhra Pradesh. The last date to submit bids is October 11, 2024. The project cost has been estimated at ₹1.5 million (~$17,955). The scope of work covers wind resource assessment, solar radiation assessment, energy generation analysis, and technology updates for wind, solar, and BESS. It also encompasses reviewing connectivity and power evacuation systems, project clearances, project cost, financial analysis, project timeline, operation, and maintenance strategy, and preparing the initial feasibility report and draft and final DPR.

Mumbai-based manufacturer of solar PV modules Waaree Energies has received approval from the Securities and Exchange Board of India (SEBI) to float its initial public offering (IPO) of equity shares. The company filed the draft IPO papers with SEBI on December 29, 2023. It had also proposed an IPO in 2021 but did not go through with the issue. The IPO comprises a fresh issue of equity shares worth ₹30 billion (~$358.77 million) and an offer for sale of up to 3.2 million equity shares with a face value of ₹10 (~$0.12) each. The company plans to utilize the IPO proceeds to establish a 6 GW ingot wafer, solar cell, and solar PV module manufacturing facility in Odisha and for general corporate purposes.

Solar installation company Solar91 Cleantech has filed a draft red herring prospectus to raise ₹1 billion (~$11.97 million) through an initial public offering (IPO). The company is offering a fresh issue of 5.43 million equity shares with a face value of ₹10 (~$0.119) each. There is no offer of sale in this IPO. A total of 304,800 equity shares at a face value of ₹10(~$0.119) will be reserved for market makers, and 51,31,200 equity shares at a face value of ₹10 (~$0.119) will comprise net issue to the public. The company plans to use the net proceeds from the IPO to invest in subsidiaries, meet working capital requirements, and for general corporate purposes.

Scientists at the University of Manchester have discovered a breakthrough in understanding the use of lithium-ion storage within the thinnest battery anode, composed of only two layers of carbon atoms. The research, published in Nature Communications, shows an unexpected ‘in-plane staging’ process during lithium intercalation in bilayer graphene, which could lead to advancements in energy storage technologies.