Haryana and Odisha accounted for just 0.4% of the solar open access installations in 9M 2024 and 1.1% in Q3 2024, according to Mercom’s Q3 2024 India Solar Open Access Market Report. However, certain regulatory and policy changes in the two states have made them attractive for solar open access. India added 4.8 GW of solar open access capacity in the first nine months (9M) of 2024, up almost 69% compared to 2.8 GW installed in 9M 2023. The capacity added in the first nine months of 2024 surpassed annual installations witnessed in any of the previous years.

The Himachal Pradesh Electricity Regulatory Commission has approved tariffs for Himachal Pradesh State Electricity Board (HPSEBL) to procure 900 MW of hybrid power under Tranche VII. The approved tariffs range are ₹3.15 (~$0.037)/kWh and ₹3.21 (~$0.0377)/kWh for 300 MW and 600 MW projects, respectively. They also include a ₹0.07 (~$0.0008)/kWh trading margin for the projects. HPSEBL sought tariff approval to procure 900 MW wind-solar hybrid power from the Solar Energy Corporation of India.

The Military Engineer Services has invited bids for the comprehensive maintenance of a 1.7 MW solar power project at the Tughlakabad Air Force Station. Bids must be submitted by January 1, 2025. Bids will be opened on January 3. Bidders must submit an earnest money deposit of ₹50,000 (~$600). The project’s estimated cost is ₹2.5 million (~$30,000). The contract will be for 330 days. The scope of work involves cleaning the solar photovoltaic modules, checking electrical parameters regularly to ensure the project’s functioning within the prescribed limits, and conducting project area maintenance.

PFC Consulting has invited bids to empanel advanced metering infrastructure service providers to implement smart prepaid metering under the Revamped Distribution Sector Scheme. The last date to submit bids is February 3, 2025. Bids will be opened on the same day. Bidders must submit an application fee of ₹100,000 (~$1,174.92) plus GST. Bidders must submit a bid security deposit of ₹10 million (~$117,492) in the form of four unconditional and irrevocable bank guarantees of ₹ 2.5 million (~$29,373).

Ahmedabad-based solar turnkey solutions provider Solarium Green Energy has received in-principle approval from the BSE SME to float its Initial Public Offering of shares. The IPO comprises a fresh issue of 5.5 million equity shares at a face value of ₹10 (~$0.117) each. The company had submitted its Draft Red Herring Prospectus in September this year. Solarium requires ₹1.69 billion (~$19.85 million) for its working capital needs, which it plans to fulfill in part by utilizing ₹650 million (~$7.63 million) from the IPO. The remaining requirement of ₹1.04 billion (~$12.21 million) will be met through internal financing sources.

Kalpataru Projects International (KPIL), a Mumbai-based power transmission, and engineering, procurement, and construction company, has raised ₹10 billion (~$117.5 million) through a qualified institutions placement of shares. The QIP, which is the company’s first equity raise in over a decade, saw participation from domestic mutual funds, foreign investment funds, and insurance companies. KPIL aims to use these funds to strengthen its balance sheet, enhance financial flexibility, and accelerate its growth plans.