The Ministry of New and Renewable Energy (MNRE) has amended the Approved Models and Manufacturers of Solar Photovoltaic Modules (Requirement for Compulsory Registration) Order, 2019. One clause has been modified, and two new clauses have been added. According to the new amended clause, inspection and final enlistment for provisionally enlisted manufacturers must be completed within two months of the application. If the National Institute of Solar Energy has completed the inspection but MNRE has not received the recommendation, the provisional enlistment will automatically become final after two months. The provisional enlistment will be revoked if solar photovoltaic manufacturers cause the inspection delay.

Madhya Pradesh Industrial Development Corporation has invited bids to prepare Detailed Project Reports (DPR) for two ground-mounted solar power projects with a total capacity of 12.5 MW. The advertised value of the tender is ₹14.9 million (~$170,000). The last date to submit a bid is August 21, 2024 and bids will be opened by August 28. Bidders must furnish an earnest money deposit of ₹149,000 (~$1,775.30). The bid document cost is ₹14,750 (~$175.71). The DPR and feasibility report is for a 2.5 MW solar project for High Tension connections at commercial buildings in Indore and a 10 MW solar project for the Special Economic Zone, Pithampur.

Government-owned Power Finance Corporation has reported a 20% increase in consolidated Profit After Tax (PAT), rising from ₹59.82 billion (~$712.6 million) in the first quarter (Q1) FY2024 to ₹71.82 billion (~$855.4 million) in Q1 FY 2025. The consolidated loan asset book crossed the ₹10 trillion (~$119 billion) mark, standing at ₹10.05 trillion (~$119.7 billion) as of June 30, 2024, compared to ₹8.87 trillion (~$105.6 billion) a year earlier. The company’s net worth, including non-controlling interest, increased by 20% year-over-year (YoY), reaching ₹1.42 trillion (~$16.9 billion) as of June 30, 2024, up from ₹1.18 trillion (~$14 billion).

Wind turbine manufacturer Suzlon Energy has announced the acquisition of a 76% stake in Renom Energy Services, a multi-brand renewable energy operations and maintenance service company. The acquisition will be completed in two tranches, with Suzlon initially acquiring a 51% stake for ₹4 billion (~$47.6 million), followed by an additional 25% stake within 18 months for ₹2.6 billion (~$30.9 million). Renom, founded by the Sanjay Ghodawat Group in 2015, manages a portfolio of renewable energy assets, including 1,782 MW in wind, 148 MW in solar, and 572 MW in balance of plant services.

Electric vehicle battery manufacturing company Neuron Energy has raised ₹200 million (~$2.4 million) in a Series A funding from investors, including the Chona Family and Capri Global Family Office. The funds will be used to bolster Neuron’s research and development (R&D) capabilities. This will include establishing an R&D laboratory in Pune and a manufacturing facility in Delhi. While its Pune facility will aim to enhance battery life, reduce charging duration, and develop efficient cooling packs, the Delhi facility will produce 100 MWh of batteries annually, specifically for two-wheelers. The company aims to clock ₹1.5 – 2 billion (~$17.86 – 23.81 million) in revenue in the current fiscal year.