Three government-owned renewable energy agencies, Solar Energy Corporation of India, SJVN, and NHPC, have been conferred ‘Navratna’ status by the government, which gives them more financial and operational autonomy. Navratna companies can invest up to ₹10 billion (~$117 million) without seeking approval from the Union government. They can also invest up to 15% of their net worth on a single project or 30% in a year, capped at ₹10 billion (~$117 million). These companies can also go for capital expenditure without monetary caps and enter into strategic alliances or technology joint ventures.

The REC Power Development and Consultancy has handed over the Khavda Phase-IV Part-A transmission to Adani Energy Solutions to evacuate 7 GW of renewable energy from the Khavda Renewable Energy Park. AESL won the project through the Tariff-Based Competitive Bidding process. It will commission the project in the next 24 months on a Build, Own, Operate, and Transfer basis and maintain it for 35 years. The company will invest ₹40.91 billion (~$487.47 million) to build the 298 km transmission project. It will include the setting up of 300 MVAr STATCOM and 3×1500 MVA, 765/400 kV Inter-connecting Transformers with 1×330 MVAr, 765 kV, and 1×125 MVAr, 420 kV bus reactors.

Coal India has invited bids to set up a 300 MW grid-connected ground-mounted solar project at the Khavda Solar Park in Gujarat. The last date to submit the bids is September 23, 2024. Bids will be opened on September 24. The scope of work covers the design, engineering, procurement, supply of equipment and materials, erection, testing, and commissioning of the project. It also includes the supply, packing and forwarding, the transportation of PV modules up to Khavda Solar Park, including the transit insurance of crystalline solar modules with nominal wattage and dimensions as mentioned in the scope of supply for the 1500V system voltage.

The Gujarat Urja Vikas Nigam has invited bids to set up a 400 MW/800 MWh standalone battery energy storage system with an additional green shoe option of 400 MW/800 MWh. The last date to submit the bids is October 16, 2024. Bidders must submit a document fee of ₹29,500 (~$ 351.69) and a document processing fee of ₹1.5 million (~$17,880.38) + 18% GST. They must also submit an earnest money deposit of ₹500,000 (~$5,956.85) and a performance bank guarantee for ₹1.25 million/MW (~$14,901.89/MW).

Uttar Pradesh New & Renewable Energy Development Agency has issued a tender for the supply, installation, testing, and commissioning of distributed grid-connected solar PV systems to solarize 10,000 agricultural pumps under Component C-1 of the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan program. The last date to submit the bids is September 23, 2024. Bidders must furnish an earnest money deposit in the form of a bank guarantee or demand draft of 2% of the estimated cost of ₹4.07 billion (~$485.677 million). They must also pay a tender fee of ₹ 11,800 (~$140.59).

Inox Wind has announced that the board of its subsidiary Resco Global Wind Services (Resco Global), an engineering, procurement, and construction solutions provider, has approved a proposal to raise ₹3.5 billion (~$41.7 million by selling a single-digit equity stake to marquee investors. The company will utilize the funds to scale up its business offerings and capitalize on large-scale opportunities in the Indian wind sector. Resco offers end-to-end services for wind projects from the conceptualization stage up to project commissioning and the construction of transmission infrastructure.

Massachusetts Institute of Technology scientists have found a potential breakthrough cathode material that might be the future of battery technology. They have developed a new class of cathode using rock salt – a breakthrough material for low-cost, high-energy lithium-ion batteries, powering smartphones, renewable energy storage, and electric vehicles. The study, led by Ju Li, the Tokyo Electric Power Company Professor in Nuclear Engineering and Professor of Materials Science and Engineering, reveals a new class of partially disordered rock salt cathode, integrated with polyanions — called disordered rock salt-polyanionic spinel, or DRXPS, that delivers high energy density at high voltages with significantly improved cycling stability.

The U.S. solar industry has seen significant shifts in recent years, with trends pointing toward larger system sizes, higher module efficiencies, and a steady rise in paired PV+ storage systems. According to the “Tracking the Sun 2024” report by Lawrence Berkeley National Laboratory, the prices of residential solar systems have consistently dropped by approximately $0.1 to $0.2 per watt (W) annually, driven primarily by reductions in soft costs. In 2023, the median installed price for residential systems fell by around $0.1/W in real (inflation-adjusted) terms. This decline occurred despite inflationary pressures that have affected many other sectors of the economy.

China-headquartered solar cell and module manufacturer JinkoSolar‘s revenue dropped 21.6% year-over-year to RMB24.05 billion (~$3.31 billion) in the second quarter (Q2) of 2024 due to a decrease in the average selling price of solar modules. However, revenue grew 4.4% sequentially due to increased module shipments. The company’s net loss during the quarter came in at RMB100.7 million (~$13.9 million) against a net income of RMB1.31 billion (~$18.4 million) in Q2 2023. Gross profit in the second quarter of 2024 was RMB2.68 billion ($377.26 million), compared with RMB4.78 billion (~$672.87 million) in the second quarter of 2023.