Rajasthan Rajya Vidyut Utpadan Nigam (RRUVNL) has invited bids to set up 500 MW/1,000 MWh standalone Battery Energy Storage Systems (BESS) with a greenshoe option of 500 MW/1000 MWh. The BESS project will be eligible for viability gap funding (VGF) support. The VGF for each developer is capped at ₹2.7 million (~$32,006)/MWh or 30% of the project’s capital cost, whichever is lower. The total capacity will be distributed across RRUVNL’s generation facilities, including the Giral Lignite Power Project in Barmer, Suratgarh Thermal Power Station in Suragarth, and Rajasthan Rajya Vidyut Prasaran Nigam’s substations at Sakatputa, Kota, and Heerapura, Jaipur.

The Ministry of Mines has auctioned eight critical and strategic mineral blocks across five states under Tranche IV, bringing the total auctioned blocks to 22. Tranche IV of the auctions, launched on June 24, 2024, offered 21 mineral blocks across various states. After an evaluation, ten blocks progressed to the second round of e-auctions, with eight blocks successfully auctioned. The remaining two blocks will be auctioned by December 2, 2024. Graphite and vanadium are key to energy storage and green technologies among the mineral blocks auctioned.

Dakshin Haryana Bijli Vitran Nigam has invited bids for the installation of 26.75 MW decentralized ground-mounted, grid-connected solar power projects under Component A of Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM KUSUM) program. The last date to submit bids is November 25, 2024. Bidders must pay an application processing fee of ₹5,000 (~$59.32) plus 18% GST. They must also furnish an earnest money deposit of ₹100,000 (~$1,186.3)/MW. Bidders must furnish proof of availability of funds for at least 30% of the cost of capacity applied. The estimated cost is ₹40 million (~$474,348).

Gujarat has introduced new guidelines to promote renewable energy procurement from solar projects up to 5 MW and wind projects up to 10 MW without following the competitive bidding process. Domestic Content Requirement (DCR) mandate for modules is exempted, allowing more flexibility in component sourcing. However, no financial support from the state or DISCOMs will be available, and the renewable power generated under this policy is not eligible for carbon credits or other renewable energy credits claimed by developers. The generated renewable energy will be credited to DISCOMs’ renewable purchase obligations.

Surat-based KPI Green Energy, a solar and hybrid power provider, posted a total revenue of ₹3.61 billion (~$42.83 million) in the second quarter (Q2) of the financial year (FY) 2025, an increase of 67% year-over-year (YoY). The earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 87% YoY to ₹1.34 billion (~$15.9 million). The company posted a net profit of ₹698 million (~$8.28 million) in Q2 FY25, an increase of 101% over the same period last year. KPI Green reported earnings per share (EPS) of ₹5.55 (~$0.066) compared to ₹3.21 (~$0.038) in the corresponding period last year.

Fuel cell manufacturer Ballard Power Systems‘ total revenue dropped 45% year-over-year (YoY) to $14.8 million in the third quarter (Q3) of 2024, impacted by softening customer demand with the adoption curve for hydrogen and proton exchange membrane (PEM) fuel cells lengthening. Within the heavy-duty mobility segment, revenue fell 38% YoY to $12.8 million due to reduced sales in the rail, truck, and marine verticals. However, bus revenue surged by 33% YoY to reach $11.2 million, offering a partial offset to the overall decline. In other segments, stationary revenue dropped sharply by 82% YoY to $500,000, while emerging and other markets recorded a 60% reduction to $1.4 million.

Norway-based renewable energy solutions provider Scatec reported a 1,632% year-over-year (YoY) rise in net profit to NOK1.65 billion (~$150.18 million) in the third quarter (Q3) of the financial year (FY) 2024-25 from NOK95 million (~$8.64 million). The company attributes its significant rise in net profit to improved performance in development and construction (D&C) activities. The company’s revenue also climbed 213.3% YoY to NOK2.97 billion (~$270.33 million) from NOK947 million (~$86.19 million), primarily due to revenues totaling NOK 631 million (~$57.5 million) in the D&C segment in the quarter, with a gross margin of 12%.