The Ministry of Power has issued tariff-based competitive bidding guidelines to procure stored energy from existing, under-construction, or new pumped storage projects. The draft policy was issued in August last year. According to the National Electricity Plan 2023, there will be a need for approximately 74 GW/411 GWh of energy storage systems by 2031-32. This includes 27 GW/175 GWh from PSP and 47 GW/236 GWh from battery energy storage systems.

Solar Energy Corporation of India (SECI) has invited bids to select developers to set up 500 MW of interstate transmission system-connected solar power projects (Tranche XIX). They must also pay success charges of ₹100,000 (~$1,151)/MW of contracted capacity to SECI to cover administrative costs, project monitoring, and coordination with state authorities. They must use only commercially established and operational technologies to minimize the technology risk and to achieve timely commencement of power supply from the projects. They must also use modules listed in the latest Approved List of Models and Manufacturers.

Norway-based silicon material manufacturer REC Silicon reported a revenue of $29.7 million in the fourth quarter (Q4) of 2024, a 26.5% year-over-year decline from $40.4 million. The company’s earnings per share came at a loss of $0.75 per share, compared to a profit of $0.25 in Q4 2023. It suffered earnings before interest, taxes, depreciation, and amortization loss of $5.3 million, compared to the $5.4 million loss in the same quarter the previous year.

Emirates Water and Electricity Company has issued a request for proposal (RfP) to set up the 140 MW Al Sila wind power project in Abu Dhabi, United Arab Emirates. The RfP was issued to 16 companies and consortiums who qualified in the expression of interest round in October 2024. The project is expected to double Abu Dhabi’s wind generation capacity to 240 MW. It will be built on Abu Dhabi’s existing wind projects at Sila, Sir Bani Yas Island, and Delma Island. A successful developer or developer consortium will own up to 40% of the entity.