Hero Solar Energy, Ganeko Solar (Zelestra), Juniper Green Energy, ReNew, and Avaada won SJVN’s auction to supply 1,200 MW firm and dispatchable power from inter-state transmission system-connected renewable energy projects with energy storage systems under tariff-based competitive bidding (FDRE II). Juniper, ReNew, Zelestra, and Hero won 200 MW, 150 MW, 140 MW, and 120 MW, respectively, at a tariff of ₹4.25 (~$0.0506)/kWh. Avaada was awarded 590 MW at a tariff of ₹4.26 (~$0.0507)/kWh. The tender was floated in March this year.

The Central Electricity Regulatory Commission has issued a draft order addressing concerns related to price discovery mechanisms, market liquidity, and contract structuring in the power exchanges. The proposals focus on Day-Ahead Contingency and Term-Ahead Market contracts. Stakeholders can submit their comments and suggestions by November 4, 2024. Stakeholders had expressed concerns about high prices in DAC contracts, especially since October 2023, when prices consistently exceeded those in the Day-Ahead Market. The price discrepancy, coupled with the introduction of new competing contracts such as Real-Time Market (RTM), had led to fears about potential price manipulations and inefficiencies in the current price discovery mechanism.

The Ministry of Power has modified the provision of budgetary support for hydroelectric and Pumped Storage Projects, with a total outlay of ₹124.6 billion (~$1.48 billion). The ministry will support projects of a cumulative hydroelectric capacity of 31 GW, including 15 GW of PSP capacity from the financial year 2024-25 to 2031-32. The budgetary support is capped at ₹10 million (~$119,126)/MW for projects up to 200 MW and ₹2 billion (~$23.81 million) plus ₹7.5 million (~$89,345)/MW for projects exceeding 200 MW, with a potential increase to ₹15 million (~$178,676)/MW for exceptional cases.

The Ministry of New and Renewable Energy has said 1% of the Central Financial Assistance component will be imposed as a service charge on rooftop solar installations under the PM Surya Ghar: Muft Bijli Yojana to provide financial support to implementing agencies. The government has allocated ₹6.57 billion (~$78.24 million) to cover service charges associated with implementing the program’s various components. The funds will be utilized by REC and state implementing agencies (SIA). The Mission Directorate, headed by a joint secretary in charge of rooftop solar, will be responsible for the program’s implementation.

GAIL (India) has invited bids for the design, engineering, procurement and supply, construction, erection, testing, commissioning, and operation and maintenance of a 7.75 MW grid-connected floating solar project at Vijaipur in Madhya Pradesh. The last date for submitting bids is October 29, 2024. Bids will be opened on October 30. The project site is situated within the GAIL Vijaipur complex. Bidders will also be responsible for the project’s five-year operation and maintenance. They must construct a central monitoring and control station with SCADA, PPC panel, and associated equipment at an identified location within the solar project premises.

Central Mine Planning & Design Institute, a subsidiary of Coal India, has invited bids to commission a 5 MW grid-connected floating solar project for Eastern Coalfields at the quarry sump of Dalmia OCP Salanpur Area in West Bengal. The project should be commissioned within 270 days of receiving the work order. The developer must also oversee the project’s operation and maintenance for five years. The estimated tender value is ₹310.14 million (~$3.69 million). The last day to submit the bids is October 24, 2024. Bids will be opened on the next day.

The Mysore Division of the South Western Railway has invited bids to install 1.33 MW solar power systems on railway stations, service buildings, level crossing gates, and staff quarters. The last date for the submission of bids is October 25, 2024. The scope of work covers the supply, testing, and commissioning of on-grid solar photovoltaic power systems projects with a total capacity of 1,330 kW, installation of 11 kV HT metering cubicles at 10 locations, and supply and installation of 36 off-grid solar systems of 1 kVA capacity each. The cost of the project is ₹95.3 million (~$1.13 million).

Torrent Power will supply 8.5 MW of solar power to the production units of The Lakshmi Mills, a yarn and fabric company based in Coimbatore, Tamil Nadu, through open access. Torrent Power, Torrent Urja 17, and The Lakshmi Mills Company have signed a Share Subscription and Shareholders’ Agreement under which Lakshmi Mills will hold at least 26% of the aggregate equity shares of TU17. TU17 was incorporated by Torrent Power to undertake the business of generation, transmission, distribution, purchase, procurement, sale, trading, and import and export of all forms of power, including non-conventional and renewable energy.

Urja Mobility, an electric vehicle leasing company, has raised ₹1 billion (~$11.9 million) in its Pre-Series A funding round, comprising debt and equity financing. Mufin Green Finance and Hindon Mercantile led the funding round. The company will use the funds to expand its energy consumption and supply chain management solutions, focusing on the e-mobility and energy storage sectors. The funding will enable UrjaMobility to scale its operations and extend its pay-per-use leasing model.

The U.S. Department of Commerce has imposed anti-dumping duties at rates ranging from 2.02% to 376.85% and countervailing duties at rates ranging from 1.44% to 168.81% on aluminum extrusions imported from 14 countries, including India. The aluminum extrusions are used in trackers and mounting structures for solar panels. These trade duties will not affect aluminum framing on imported solar modules. The department determined that 14 countries—China, India, Colombia, Ecuador, Indonesia, Italy, Malaysia, Mexico, South Korea, Taiwan, Thailand, Turkey, the United Arab Emirates, and Vietnam—have dumped subsidized aluminum extrusions into the U.S., violating international trade rules.