JSW Neo Energy (JSW Energy), Hero Solar Energy, Vena Energy, Hexa Climate Solutions, and Serentica Renewables won significant capacities in Solar Corporation of India’s auction to supply 630 MW of firm and dispatchable renewable energy (FDRE) from inter-state transmission-connected projects anywhere in India under FDRE Tranche IV. JSW Energy quoted the lowest tariff of ₹4.98 (~$0.0595)/kWh to win 230 MW. Hero Solar and Vena Energy also quoted ₹4.98 (~$0.0595)/kWh to win 100 MW each. Hexa Climate and Serentica won 100 MW each by quoting ₹4.99 (~$0.0596)/kWh.

Power distribution companies are now examining demand patterns and requesting renewable energy producers to specifically address peak demand and deliver reliable, dispatchable power around the clock, with additional customization based on regional or state-specific needs. At a session, ‘Made-to-Order: The Future of Hybrid Power Projects,’ held as part of the Mercom India Renewables Summit 2024 in New Delhi, industry leaders explored the evolving landscape of hybrid power projects in India. The discussion highlighted the evolution from simple solar and wind combinations to more complex integrations involving storage and other renewable sources. The panelists shared their insights on the challenges and opportunities that lie ahead.

Green hydrogen is emerging as a key solution to decarbonize hard-to-abate sectors. However, the key to adoption depends on the availability of renewable energy, large-scale manufacturing of electrolyzers, and off-takers. On the first day of the Mercom India Renewables Summit 2024 in New Delhi, experts at the session titled ‘Scaling Green Hydrogen to Build a Competitive Marketplace’ discussed strategies to scale green hydrogen production and create a market for the end product among sectors like steel, refining, and ammonia. They explored the incentives required to scale green hydrogen production and strategies for creating demand from heavy industries like steel manufacturing and oil refining.

Inspire Clean Energy, a Mumbai-based solar asset, operations, and maintenance management company, emerged as the winner of Mercom’s Second Startup Pitch Competition for Cleantech Companies, held during the Mercom India Renewables Summit 2024, a flagship annual event where industry leaders converge to discuss the future of clean energy in India. The company was chosen as the winner for its anti-theft lock, which was designed to eliminate cable theft in large-scale solar projects. With three versions available — Plain Vanilla, Hooter, and IoT Sensor — these devices secure cables, making them hard to remove without triggering alarms or real-time alerts. Already adopted by major independent power producers, the anti-theft lock prevents costly theft, protects valuable warranties, and reduces overall operations and maintenance costs.

Renewable energy company Adani Green Energy (AGEL) reported that its revenue surged by 24% year-over-year to ₹25.28 billion (~$301 million) in the first quarter of financial year 2025, driven primarily by capacity additions. The revenue growth was accompanied by a 23% increase in earnings before interest, taxes, depreciation, and amortization (EBITDA), which reached ₹23.74 billion (~$283 million) at an EBITDA margin of 92.6%. The company also reported a 32% jump in cash profit, which climbed to ₹13.90 billion (~$166 million), underpinned by AGEL’s expanding operational footprint, with its capacity growing by 31% to reach 10,934 MW.

India Grid Trust (IndiGrid), a power infrastructure investment trust, reported that its first quarter revenue surged by 32.7% year-over-year, reaching ₹8.35 billion (~$99.7 million), up from ₹6.29 billion (~$75 million) in the same quarter last year, as the company’s recent acquisitions aided its topline growth. It acquired solar assets through Virescent Renewable Energy Trust and ReNew Solar Urja Private. These accretive acquisitions have expanded IndiGrid’s portfolio, which now encompasses 41 power projects. The projects include 49 transmission lines spanning over 8,700 ckms, 15 substations with 22,550 MVA transformation capacity, and 855 MW of solar generation capacity.