Amid surging demand for renewable energy in India, delays in finalizing Power Sale Agreements (PSA) and Power Purchase Agreements (PPA) are creating significant obstacles for developers and policymakers alike. In April 2023, the Ministry of New & Renewable Energy introduced an agency-wise bidding calendar for Renewable Energy Implementing Agencies— Solar Energy Corporation of India, NTPC, NHPC, and SJVN — aiming to roll out 50 GW of renewable energy projects annually through FY 2027-28. This move was expected to accelerate India’s energy transition and help meet its ambitious clean energy targets.

The Gujarat Electricity Regulatory Commission (GERC) has ruled that wind power developers must share benefits from the sale of all types of carbon credits with Gujarat Urja Vikas Nigam and not just credits from the Clean Development Mechanism (CDM). The case arose from power purchase agreements signed in 2008 between Vayu (Project 1), (erstwhile BPL Vayu (Project I), a generating company, and GUVNL. The PPAs required the developer to share 25% of gross CDM benefits with GUVNL. Initially, the developer’s projects were registered under the CDM, and it shared benefits as required. In 2019, the projects switched to the Verra voluntary carbon credit program.

The Karnataka Electricity Regulatory Commission has clarified that if a rooftop solar consumer switches from a net metering arrangement to a gross metering arrangement and carries out wiring modifications, the distribution companies (DISCOMs) must execute a Supplemental Power Purchase Agreement to formalize the change. In a July 2022 order, the Commission said that the net metering facility for rooftop solar consumers would not be available if they use power from other sources or captive sources through an open access mechanism. Such consumers could choose either a gross metering arrangement or set up a captive project for self-consumption.

The Ministry of New and Renewable Energy MNRE has issued guidelines to implement viability gap funding (VGF) for 1 GW offshore wind energy projects. The VGF program for 1 GW offshore wind projects to be commissioned until the financial year 2031-2032 has an outlay of ₹68.53 billion (~$816.88 million). The nodal agency, National Institute of Wind Energy (NIWE) has identified a 500 MW project site off the Gujarat coast. Another site off the Tamil Nadu coast for a 500 MW project is yet to be finalized. The program will be implemented through the implementing agency Solar Energy Corporation of India, which will be eligible to get 0.5% of the VGF amount released as administrative charges annually.

Solar Energy Corporation of India has invited bids to develop 500 MW Inter-State Transmission System (ISTS)-connected offshore wind power projects (Tranche-I). Bidders must pay a non-refundable document fee of ₹50,000 (~$596.08) and a bid processing fee of ₹2 million (~$23,842). Bidders should submit an earnest money deposit of ₹3.7 million (~$44,107). The last date to submit bids is December 10, 2024. The scope of work includes establishing offshore wind projects connected to an ISTS and setting up the transmission network up to the interconnection/delivery point.

Adani Green Energy has received a letter of intent (LoI) from the Maharashtra State Electricity Distribution Company (MSEDCL) to supply 5 GW of solar power from the Khavda Renewable Energy Park in Gujarat. The company will sign a long-term power purchase agreement with MSEDCL to supply solar power from the 538 sq km renewable energy park as part of the LoI to provide 6,600 MW of power from Adani Power. Adani Power will also supply 1,496 MW (net) of thermal energy from a new 1,600 MW ultra-supercritical thermal power project. The remaining 104 MW will be allocated for auxiliary consumption.

JSW Neo Energy and Reliance Power have won Solar Energy Corporation of India’s  auction to set up 1,000 MW/2,000 MWh standalone battery energy storage systems (BESS) under tariff-based global competitive bidding. Both the companies have won an equal capacity of 500 MW/1000 MWh. JSW Neo Energy quoted a tariff of ₹381,000 (~$4542)/MW per month and Reliance Power quoted ₹381,999 (~$4554)/MW per month. The tender was floated in June this year. The developers must establish a BESS to make the energy storage facility available to the buying entities for charging and discharging the system as needed.

SJVN has invited bids to develop 1,200 MW Inter-State Transmission System (ISTS)-connected solar projects with 600 MW/2400 MWh energy storage systems (ESS) under tariff-based competitive bidding. The projects must be set up on a build-own-operate basis. The last date to submit bids is October 22, 2024. Bids will be opened on October 25. Bidders must submit ₹29,500 (~$351.59) as the cost of the document fee and ₹1.5 million (~$17,877) +18% GST for each project as a bid processing fee. Bidders must also submit an earnest money deposit of ₹1.08 million (~$12,895)/MW per project.

Jindal Steel & Power (JSPL) and Jindal Renewables will invest in green hydrogen production for steel making in Angul, Odisha. JSPL plans to incorporate green hydrogen into its Direct Reduced Iron units. In the first phase, Jindal Renewables will develop a green hydrogen generation capacity of up to 4,500 tons per annum, set to commence by December 2025. The project will also supply 36,000 tons of oxygen annually to the Angul steelworks and ~3 GW of renewable energy to JSPL’s facilities. Integrating green hydrogen will reduce the steelmaker’s dependence on coal-fired energy by 50% in the next two to three years and help lower its carbon footprint.

The Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has invited bids for 320 MW grid-connected ground-mounted solar power projects in eight locations in Jalaun, Uttar Pradesh. The last date to submit bids is October 4, 2024. Bids will be opened on October 5. UPNEDA will lease 1,292.46 acres of land to the solar developer for 30 years for the projects The scope of work covers setting up the project on a Build-Own-Operate basis. The project has been estimated at a contract value of ₹19.39 million (~$231,129).