Pace Digitek, Hero Solar Energy (Hero Future Energies), ACME Solar Holdings, and JSW Neo Energy (JSW Energy) were declared winners in Solar Energy Corporation of India’s (SECI) auction to set up 1,200 MW Inter-State Transmission System (ISTS)-connected solar power projects with 600 MW/1,200 MWh energy storage systems (ESS) anywhere in India under Tranche XV. Pace Digitek was awarded 100 MW at a tariff of ₹3.41 (~$0.0408)/ kWh. Hero Solar and ACME Solar quoted ₹3.42 (~$0.0410)/kWh to win 250 MW and 350 MW, respectively.

Maharashtra Electricity Regulatory Commission has approved Maharashtra State Electricity Distribution Company’s (MSEDCL) petition to procure 5,000 MW of solar and 1,600 MW of thermal power. The Commission directed MSEDCL to seek approval from the government for deviations in the competitive bidding guidelines related to solar power procurement.

The Rajasthan Electricity Regulatory Commission has approved the procurement of 1,000 MW of solar power by Rajasthan Urja Vikas & IT Service from seven developers. The decision, aimed at meeting the state’s renewable energy purchase obligations and day-time power demand, upheld the competitive bidding process and approved the tariffs ranging from ₹2.61(~$0.0312)/kWh to ₹2.62 (~$0.0313)/kWh.

Karnataka Renewable Energy Development has invited bids to select developers to commission a 100 MW grid-connected ground-mounted solar project and a 50 MW/130 MWh battery energy storage system in Kalaburagi District. The estimated project cost is ₹5.63 billion (~$67.35 million). The last day to submit the bids is August 16, 2024. Bids will be opened on August 19. Bidders must submit an earnest money deposit of ₹56.3 million (~$673,588).

The Himachal Pradesh Electricity Regulatory Commission has approved the power purchase agreement signed between the HP State Electricity Board and the 1 MW Ganpati Solar Power Project in Kangra District. The Commission said that a tariff of ₹3.50 (~$0.04)/kWh will apply to the Ganpati Solar Power Project. The tariff is provisional and subject to further adjustment of subsidy, if any.

Energy Efficiency Services has issued a tender inviting bids for an annual contract to supply 2,000 MW of single-phase solar inverters across India. The last date for the submission of bids is August 5, 2024. Bidders must submit ₹25,000 (~$299.09) as the bidding document fee.

Electric vehicle (EV) ride-hailing service and charging network firm BluSmart has raised ₹2 billion ($24 million) in a pre-series B funding round. Along with existing investors and BluSmart founders, the new investors were responsAbility, Sumant Sinha, Founder of ReNew, and MS Dhoni Family Office. The funds will enable BluSmart to expand and enhance its EV charging infrastructure in major Indian cities. The company aims to “Decarbonize Mobility at Scale” by combining energy, infrastructure, mobility, and technology.

Jupiter International, a manufacturer of photovoltaic solar cells and provider of solar power solutions in India, has received an investment of ₹3 billion (~$35.89 million) from ValueQuest S.C.A.L.E. private equity fund. Jupiter aims to establish a 1.8 GW solar cell and 1.2 GW solar module manufacturing facility with this funding. The company has formed a joint venture with AmpIn Energy to develop an integrated solar cell and module capacity of 1.2 GW each.

Mercom India’s fourth edition of its flagship event, the Mercom India Renewables Summit, will be held on July 25 and 26, 2024, at the Hyatt Regency in New Delhi. The Summit is a significant event in India’s renewable energy calendar, serving as a crucial platform bringing together industry leaders, policymakers, investors, and innovators to share insights on advancing a sustainable energy future. Over the past four years, the Mercom India Renewables Summit series has evolved into an important event focusing on translating policy and ambition into actionable outcomes.

As India’s economy expands, its energy demand will multiply over the next decade. To meet this demand, India must provide affordable and reliable energy while reducing dependence on fossil fuels and minimizing environmental and health costs. The upcoming ‘Mercom India Renewables Summit 2024,’ scheduled for July 25-26 in New Delhi, will address these critical issues. One of the key sessions, titled ‘Accelerating India’s Energy Transition: Urgency is the Driving Force,’ will take place on July 25, 2024. This session will feature discussions among industry leaders, exploring key topics such as demand and supply continuity, planning and delivery, and the policy environment to overcome challenges and achieve targets on time.