The Union Minister of New Renewable Energy and Power, R. K. Singh, in a written reply to Lok Sabha, stated that the effective enforcement of the Electricity (Late Payment Surcharge and Related Matters) Rules in 2022 has led to a notable enhancement in the recovery of outstanding dues owed to suppliers, which includes generating and transmission companies. The total outstanding dues of states was ₹1.39 trillion (~$16.9 billion) as of June 3, 2022. However, through the timely payment of twelve equated monthly installments, this amount has been substantially reduced to ₹699.6 billion (~$8.5 billion) as of July 2023.

The Jodhpur Vidyut Vitran Nigam has floated three tenders for installing and commissioning 65 grid-connected solar power projects with a total capacity of 163.52 MW in various subdivisions of Sri Ganganagar Circle under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan program for feeder-level solarization. The projects will be developed under the renewable energy service company model. The tender is floated for 20.16 MW, 64.36 MW, and 79 MW solar projects.

Adani New Industries, a wholly owned subsidiary of Adani Enterprises, has secured a trade finance facility of $394 million from Barclays PLC and Deutsche Bank AG to fulfill the working capital needs of their integrated solar module manufacturing facility. The company is building an ecosystem of one of the largest integrated green hydrogen businesses, including solar module and wind turbine manufacturing.

Jammu and Kashmir Energy Development Agency has invited bids to commission 5 MW of grid-connected rooftop solar power projects on identified government buildings under the Jammu Smart City Project. The projects would be developed in three capacity ranges— more than 3 kW and up to 10 kW totaling 1 MW, more than 10 kW and up to 100 kW totaling 3 MW, and more than 100 kW and up to 500 kW totaling 1 MW. The project should be commissioned within 180 days of receiving the work order.

U.S.-based solar module manufacturer First Solar recorded a net income of $170.58 million in the second quarter of 2023, an increase of 205% year-over-year (YoY) compared to $55.81 million. The surge was primarily driven by the increase in the volume of modules sold during the April to June period, including the commencement of sales of the company’s next-generation Series 7 modules and an increase in the average selling price of modules. The company reported net sales of $811 million during the quarter, an increase of 36% YoY compared to $621 million.

U.S.-based solar module manufacturer First Solar has announced its plans to construct a fifth manufacturing facility in the United States, with an investment of up to $1.1 billion. The move comes as the company aims to bolster America’s capacity to produce photovoltaic solar modules. The upcoming manufacturing facility will be fully vertically integrated, adding 3.5 GW of nameplate manufacturing capacity. The expansion is estimated to increase the company’s overall manufacturing capacity in the U.S. to approximately 14 GW and 25 GW globally by 2026.

Germany-based wind turbine manufacturer Nordex Group reported revenue of €2.8 billion (~$3 billion) in the first half (1H) of 2023, a year-over-year (YoY) increase of 27.2% compared to €2.2 billion (~$2.4 billion) in 1H 2022. The company’s net loss during the period was €298.8 million (~$327.5 million), a 5.5% year-over-year decrease compared to €283.1 million (~$310.3 million). The improvement in revenue and net loss can be attributed to the significant increase in sales, reaching around €2.8 billion (~$3 billion) during the January to June period.

The United States had 263,883 jobs dedicated to solar energy as of December 2022, indicating a 3.5% growth with 8,846 additional jobs since 2021, according to the 13th annual National Solar Jobs Census by the Interstate Renewable Energy Council. This growth in solar jobs occurred amidst a transitional period for the U.S. solar industry, coinciding with the Inflation Reduction Act passage. Implementing this new law is anticipated to trigger significant advancements in the solar sector and foster job expansion in the upcoming years.

Enphase Energy, a microinverter-based solar and storage systems supplier, reported a 37% increase in net profit to $205.6 million during the second quarter (Q2) of 2023 compared to $149.8 million gained during Q2 2022, primarily driven by higher microinverter shipments. The company recorded a revenue of $711.1 million for the period, a 34% YoY increase. The microinverter shipments by Enphase from April to June increased by 55% YoY to ~5.20 million or approximately 2,121 MWdc.

RMIT University has secured international patents for the development of the proton battery, which holds the potential to power homes, vehicles, and devices, offering an eco-friendly alternative to conventional lithium-ion batteries. Operating on a carbon electrode that stores hydrogen derived from water splitting, the researchers said their proton battery doubles the energy capacity of previously reported electrochemical hydrogen storage systems.