ReNew Solar Power (ReNew), ACME Solar Holdings (ACME Solar) and Adani Renewable Energy Holdings Twelve (Adani Green Energy) have won Solar Energy Corporation of India’s auction to develop 1,000 MW of interstate transmission system-connected solar power projects (Tranche XVIII). Only 600 MW of the total capacity tendered has been awarded. ReNew secured 250 MW at a tariff of ₹3.04 (~$0.0357)/kWh, while ACME won 300 MW at a tariff of ₹3.05 (~$0.0358)/kWh.

A total of 14.5 GW of utility-scale solar installations were added in the first nine months (9M) of 2024, according to Mercom India Research. Gujarat had the most utility-scale solar installations, with 27% of the country’s total installations in 9M 2024. The state’s renewable energy share in its power mix continued to grow, with solar energy making a notable contribution, driven by significant contributions from large standalone projects.

A total of 1.9 GW of rooftop solar capacity was installed in the first nine months (9M) of 2024, according to Mercom India’s Q3 2024 India Rooftop Solar Market Report. Gujarat added the most solar capacity in 9M 2024 at 38.1% of the total installed capacity, a 15.8% YoY increase. The presence of a large number of installers in the state and high residential demand under the PM Surya Ghar were critical drivers for the capacity additions.

A total of 9.02 GW of wind energy tenders were floated by various agencies in 2024, according to Mercom India Research. The largest wind tender in 2024 was floated by NHPC to develop 1.2 GW interstate transmission system-connected wind power projects (Tranche II). The tender specified that power injection must be made at ISTS substations in six states: Tamil Nadu (500 MW), Andhra Pradesh (250 MW), Maharashtra (200 MW), Telangana (100 MW), Madhya Pradesh (100 MW), and Karnataka (50 MW).

The Central Electricity Regulatory Commission (CERC) issued its third “Removal of Difficulties” order for the Indian Electricity Grid Code 2023. The order addresses critical issues regarding the scheduling of infirm power and trial operations for renewable energy projects. CERC issued interim clarifications under Regulations 58 and 60 of the Grid Code to address immediate concerns. These provisions stand until the Grid Code is amended.

The Appellate Tribunal for Electricity has directed the Assam Electricity Regulatory Commission (AERC) to redetermine the tariff of ₹8.78 (~$0.10)/kWh approved by it for Suryataap Energies and Infrastructure’s 5 MW solar project in Sonitpur district, Assam. This decision aims to rectify the erroneous tariff determination by AERC, which emphasized the need to consider parameters such as capital costs in line with regulatory norms and market benchmarks.

SustVest, a Gurugram-based sustainable investment platform, raised $1.7 million in a pre-series A round led by Inflection Point Ventures and Antler. This round also saw participation from WEH ventures, Venture Catalysts, Soonicorn Ventures, and FAAD Network. SustVest aims to use these funds to acquire solar projects, cover marketing expenses with the launch of the company’s regulated platform, manage operations, and cover legal costs. The company plans to develop a gateway for engineering, procurement, and construction services providers to access finance under the ‘operating expenditures’ model and bridge critical ecosystem gaps.

Independent renewable power producer ReNew Energy has entered into a definitive agreement to sell its subsidiary, ReNew Sun Waves, which operates a 300 MW solar project in Jaisalmer, Rajasthan, to Anzen India Energy Yield Plus Trust. Under the agreement, ReNew will divest its 100% shareholding and economic interest in ReNew Sun Waves. The deal assigns an enterprise value of approximately $176 million to ReNew Sun Waves. This value is subject to adjustments for net current assets and other stipulations outlined in the definitive documents.

The U.S. installed 3.8 GW of storage in the third quarter (Q3) of 2024, an 80% year-over-year increase compared to Q3 2023, according to the Q4 2024 U.S. Energy Storage Monitor by Wood Mackenzie and the American Clean Power Association. The grid-scale segment achieved 3,431 MW/9,188 MWh in installations, becoming the highest capacity installed in any Q3 on record. Texas and California were responsible for 93% of the grid-scale capacity additions, with Texas tripling its installations compared to the previous quarter and California leading in the total MWh capacity, recording 5,992 MWh.

The American Active Anode Material Producers (AAAMP) has filed petitions with the U.S. Department of Commerce and the U.S. International Trade Commission seeking the imposition of 920% tariffs on imports of natural and synthetic graphite from China used to make lithium-ion battery anode material. The demand for higher tariffs on graphite imports from China comes from years of significant volumes of ‘unfairly’ priced Chinese imports of active anode material into the U.S., according to the petitioners. The U.S.-based national law firm Buchanan Ingersoll & Rooney PC has filed the petitions on behalf of AAAMP.