Jevargi Solar Power (Rays Power Infra), Juniper Green Energy, Avaada Energy, and ACME Solar Holdings have won NHPC’s Tranche VI auction to supply 1,200 MW of firm and dispatchable renewable energy (FDRE) from ISTS-connected renewable power projects with an energy storage system and a greenshoe option of an additional 1,200 MW. Jevargi Solar was awarded 150 MW at a tariff of ₹4.48 (~$0.0528)/kWh. Juniper and Avaada were awarded 200 MW and 600 MW at a tariff of ₹4.56 (~$0.0538)/kWh.

India’s solar module and cell imports totalled $986.5 million (~₹82.6 billion) in the third quarter of the calendar year 2024, down 19% year-over-year (YoY), according to data from the Department of Commerce. About 60% of the quarter’s imports were modules, and the rest were cells. The total solar imports were up 27% quarter-over-quarter (QoQ), while solar module imports increased 39.6% QoQ.

The Plantation Corporation of Kerala (PKC) has issued an expression of interest inviting bids for a cumulative 50 MW of solar power projects at its Kasaragod and Cheemeni estates in the Kasaragod district. The last date to submit the bids is January 3, 2025. Bids will be opened on January 6. PCK holds a total of 14,135 hectares of estates in different parts of Kerala. It has identified one site in Kasaragod for 20 MW and Cheemeni for a 30 MW solar power project.

Mahindra Susten, the clean-tech arm of the Mahindra Group, has closed a financing deal worth ₹14.48 billion (~$170.6 million) with HDFC Bank and Axis Bank for its 560 MW solar projects in Gujarat and Rajasthan. The funding will facilitate the construction of these projects under long-term power purchase agreements with Gujarat Urja Vikas Nigam (GUVNL) and Rajasthan Urja Vikas Nigam (RUVNL). Upon completion, the solar power projects are projected to generate approximately 900,000 MWh of electricity annually.

Green power producer Continuum Green Energy has filed the draft red herring prospectus to raise over ₹36.5 billion (~$430.10 million) through an initial public offering (IPO). The IPO will consist of a fresh issue of equity shares with a face value of ₹10 (~$0.12) each, aggregating up to ₹12.5 billion (~$147.30 million). The IPO will also consist of an offer for sale of shares worth ₹24 billion (~$282.8 million).

INOXGFL Group announced its foray into solar manufacturing through Inox Solar, a privately held entity by the promoters. Inox Solar targets an initial capacity of 5 GW of solar modules and 2.5 GW of solar cell manufacturing capacity by 2026 with a capital expenditure of ₹15 billion (~$176.73 million). The first solar module manufacturing facility, with an initial capacity of 1.2 GW, is set to be operational in Gujarat by March 2025. The facility will manufacture TopCon modules.

Gurugram-based renewable energy solutions company Airox Nigen has announced a foray into solar module manufacturing by setting up a 2 GW facility in Haryana. The facility in a 17-acre renewable energy Park in Rohnat will manufacture solar modules under the brand name Ahaan Solar. The manufacturing facility will begin with an initial 600 MW capacity, expected to become operational by mid-2025. The full 2 GW capacity is planned to be achieved by the end of 2026. The facility will produce high-efficiency solar modules to meet growing domestic and international demand.