Powerica has won Solar Energy Corporation of India’s (SECI) auction to develop 500 MW interstate transmission system (ISTS)-connected wind power projects (Tranche-XVII). The tender was floated in May 2024. Powerica was awarded 50 MW at a tariff of ₹3.81(~$0.045)/kWh. The total capacity eligible for the award was reduced to 96 MW as per a provision in the tender that if the bids received in the auction were less than the floated capacity of 500 MW, then only 80% of that quoted capacity will be eligible for the award (80% of 120 MW which equals 96 MW).

The renewable energy landscape in India presents a complex mosaic where each state faces unique challenges and opportunities. Two states that highlight this contrast are Telangana and Andhra Pradesh. While Andhra Pradesh shows renewed optimism under a favorable political shift, Telangana’s renewable energy sector continues to grapple with regulatory hurdles and restrictive policies, particularly in the open access market. According to a developer, Telangana stands out as an “outlier” among Indian states due to its persistent resistance to the open access market, especially for renewables. “After 2014, no new open access projects were allowed to come up in the state.”

The Ministry of Power has issued the Electricity Distribution (Accounts and Additional Disclosure) Rules, 2024, to enhance transparency in financial disclosures and bolster regulatory compliance for power distribution companies (DISCOMs). The rules aim to enable DISCOMs to demarcate revenue, receivables, and subsidies for better financial clarity. This will also allow investors, regulators, and the public to assess distribution entities’ fiscal health better. The rules ensure that entities are financially safeguarded against long-term defaults by mandating provisions for receivables and enforcing the reporting of trade receivable days.

The Central Electricity Regulatory Commission has adopted tariffs for Solar Energy Corporation of India’s (SECI) 1,500 MW interstate transmission system-connected solar projects (Tranche XIII). The Commission adopted the following tariffs discovered through competitive bidding in March this year: JSW Neo Energy: 700 MW at ₹2.56 (~$0.0304)/kWh Sunsure Solarpark Fourteen: 300 MW at ₹2.56 (~$0.0304)/kWh Tejorupa Renewables India Project: 250 MW at ₹2.56 (~$0.0304)/kWh NTPC Renewable Energy: 250 MW at ₹2.57 (~$0.0305)/kWh. SECI filed a petition for the adoption of tariffs for the 1,500 MW solar power projects under Section 63 of the Electricity Act, 2003.

REC Power Development and Consultancy has issued a Request for Proposal to establish an interstate transmission system (ISTS) to evacuate 4.5 GW of power from Kurnool-IV Renewable Energy Zone (REZ) Phase 1 in Andhra Pradesh. The last date to submit the bids is December 30, 2024. Bids will be opened the same day. Bidders must submit a non-refundable fee of ₹500,000 (~$5,947). The work must be completed within 24 months from the date of allocation. The scope of work includes establishing, operating, and maintaining the project on a build, own, operating, and transferring basis.

The Western Railway has invited bids to install a 1.2 MW on-grid rooftop solar project at the EMU workshop in Mahalaxmi, Mumbai. The last date to submit the bids is November 15, 2024. Bids will be opened the same day. Bidders must submit an earnest money deposit of ₹412,900 (~$4,910). The tender’s advertised value is ₹52.58 million (~$625,341). The project must be completed in six months. The scope of work includes the supply, installation, testing, and commissioning of an on-grid solar PV project, including net metering and DISCOM registration charges, inverter with data logger with the provision of data transferring to remote service along with data storage, mounting structures, junction boxes, cables, and wiring charges.

Coal India has selected solar engineering, procurement, and construction company Enerture Technologies to commission two grid-connected solar power projects with a cumulative capacity of 13 MW. The 10 MW project will be located near the Purnadih coal mine, and the 3 MW project will be near the Churi coal mine in Jharkhand. These projects are intended for Central Coalfields Ranchi at NK Area Chatra, Jharkhand. Enerture must also oversee the program’s operation and maintenance for five years. The work was awarded for a contract value of ₹648.11 million (~$7.71 million). The tender was floated in March this year.

Bengaluru-based pharmaceutical company Strides Pharma Science has announced an investment of ₹16.1 million (~$191,495) to acquire a 2.48% stake in AMPIN Energy C&I One on a fully diluted basis to set up captive solar power projects in Tamil Nadu. This investment will help Strides procure solar energy from AMPIN C&I’s Alathur facility in Chennai. AMPIN C&I is a special purpose entity formed to set up captive solar power projects in Tamil Nadu and is a group entity of AMPIN C&I Power. The transaction is expected to be completed in the fourth quarter of the financial year 2025. In its Sustainability Report 2023-24, Strides said that 44% of its energy needs were met with renewable sources (solar and wind).

Dalmia Cement Bharat will be procuring wind power from Atria’s 6 MW wind power project in Karnataka as a captive consumer. The company has entered into a Share Purchase & Shareholders Agreement to acquire 5.39% of Atria Wind Power’s equity share capital. The acquisition consists of 180,000 equity shares for ₹34.7 million (~$412,749) to be made in one or more tranches. The transaction is expected to be completed within three months.

Public infrastructure finance company REC Limited recorded a total income of ₹135.95 billion (~$1.62 billion) for the second quarter (Q2) of the financial year (FY) 2024-25, a 17% year-over-year (YoY) increase. REC’s net profit for the quarter rose 6% YoY to ₹40.05 billion (~$476.23 million). REC approved loans totaling ₹762 billion (~$9.06 billion) during the quarter, a 27% decrease YoY. The Distribution sector received the highest share at 38%, followed by Renewables (27%), Generation (24%), and Transmission (8%). Loan approvals for renewables totaled ₹207.37 billion(~$2.46 billion) a fall of 17% YoY from ₹249.44 billion(~$2.96 billion).

The Indian Energy Exchange (IEX) has reported a consolidated revenue of ₹1.68 billion (~$20.1 million), an increase of 26.2% year-over-year (YoY) in the second quarter (Q2) of the financial year (FY) 2025. The quarter’s consolidated profit after tax (PAT) stood at ₹1.08 billion (~$12.9 million), a 25.2% increase YoY. IEX achieved a total trading volume of 36.7 billion units (BU) across all market segments, a 38.2% increase from the previous year. The trading volume includes 30.4 BU from the electricity market and 6.3 BU from the certificate traded volume. The market clearing price in the Day Ahead Market for the quarter averaged ₹4.48 (~$0.054)/kWh, down 23.8% YoY.