Onix Renewable, Jindal India Renewable Energy, NTPC Renewable Energy, Kolar Solar Power, ReNew Solar Power, and Adani Renewable Energy Holding Nine won NHPC’s auction to set up 1,200 MW inter-state transmission system-connected solar power projects with 600 MW/1,200 MWh energy storage systems. Onix, Jindal, NTPC, and Kolar were awarded 100 MW, 180 MW, 300 MW, and 150 MW, respectively, at a tariff of ₹3.09 (~$0.0358)/kWh. ReNew and Adani quoted ₹3.10 (~$0.0359)/kWh to win 300 MW and 170 MW, respectively.

The Kerala State Electricity Regulatory Commission approved a power sale agreement between the Kerala State Electricity Board and the Solar Energy Corporation of India for procuring 500 MW of solar power. The agreement aims to secure renewable energy with a dedicated supply of 250 MW for peak hours under the inter-state transmission system Tranche XV program. The Commission approved the sale agreement despite its concerns regarding the increased estimated power costs at Kerala’s periphery.

Advait Energy Transitions won Karnataka Renewable Energy Development’s auction to integrate 40,000 off-grid or standalone solar pumps in Karnataka under Component B of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan program. The tender was floated in December 2023. Advait will integrate 40,000 off-grid standalone solar pumps with SCADA software and provide five years of operation and maintenance of the SCADA platform.

REMCL, a joint venture of RITES and the Ministry of Railways, invited bids to survey, prepare, and submit feasibility and detailed project reports for solar projects in various states. Bids must be submitted by February 11, 2025. Bids will be opened on the same day. Selected bidders must conduct a feasibility study to set up ground-mounted or rooftop solar projects in various states. They must fill in site details per the tentative site survey and prepare the DPR.

The West Bengal State Electricity Distribution Company invited bids for providing engineering, procurement, and construction services for cumulative 20 MW ground-mounted solar projects in Birbhum district, West Bengal. Bids must be submitted by February 17, 2025. Selected bidders must design, engineer, manufacture or procure, supply, install, test, and commission two projects each of 10 MW at Gangapur-I & Gangapur-II under Rajnagar Block of Birbhum, District.

Engineering, procurement, and construction (EPC) service provider Saatvik Green secured two EPC contracts for 23 MW solar projects from the Himachal Pradesh Power Corporation. Saatvik Green will implement 11 MW and 12 MW solar projects in Lamlehri Upperli and Gondpur Bulla, respectively, in Himachal Pradesh. The tenders were floated last June. Saatvik Green will use N-type tunnel oxide passivated contact modules for the Gondpur project to generate 19.13 million units of energy annually. It will use Mono passivated emitter and rear contact modules for the Lamlehri project to produce 17.13 million units annually.

The Indian Energy Development Agency (IREDA), a public sector company under the Ministry of New and Renewable Energy, announced plans to raise ₹50 billion (~$588.24 million) through a qualified institutions placement (QIP) of equity shares. The QIP will be conducted in one or more tranches per applicable laws and aims to limit the Government of India’s maximum shareholding dilution in IREDA to 7% in the post-issue paid-up equity capital. The decision was approved during the agency’s board of directors meeting. The QIP aims to contribute to meeting India’s increasing demand for green energy financing.

Waaree Renewable Technologies, the solar EPC arm of the Waaree Group, posted total revenue of ₹3.6 billion (~$41.57 million) in the third quarter (Q3) of the financial year (FY) 2025, an 11.5% year-over-year (YoY) growth from ₹3.24 billion (~$37.41 million). The revenue from the EPC segment amounted to about ₹3.51 billion (~$40.6 million), a 12.14% YoY increase from ₹3.13 billion (~$36.20 million). The net profit was at ₹534.8 million (~$6.2 million), a 16.74% fall year-over-year from ₹642.3 million (~$7.4 million) in Q3 FY24.

China’s cumulative installed solar power capacity reached 890 GW as of December 2024. It installed 277.17 GW of solar capacity in 2024, a 27.79% YoY increase from 2023. According to China’s National Energy Administration, the country’s total installed power capacity stood at 3,350 GW, a 14.6% YoY increase from 2023. Major power generation companies invested CN¥ 1,168.7 billion (~$160.52 billion), a YoY increase of 12.1%. Investment in power grid projects also increased by 15.3% YoY to CN¥ 608.3 billion (~$83.66 billion).