Bondada Engineering, Oriana Power, and Pace Digitek won Telangana Power Generation Corporation’s auction to set up 250 MW/500 MWh standalone battery energy storage systems in Telangana. Bondada Engineering and Oriana Power won 50 MW/100 MWh each at a tariff of ₹240,347 (~$ 2,804.84)/MW/month and ₹245,152 (~$2,860.92)/MW/month, respectively. Pace Digitek won 125 MW/250 MWh at a tariff of ₹245,153 (~$ 2,860.93)/MW/month.

The Central Electricity Regulatory Commission approved tariffs ranging from ₹3.43 (~$0.04)/kWh to ₹3.46 (~$0.04)/kWh for NTPC’s 1 GW interstate transmission system (ISTS)-connected wind-solar hybrid power projects. The Commission rejected NTPC’s request to approve a trading margin of ₹0.07 (~$0.0008)/kWh. Since the awarded capacity is yet to be tied up with the distribution licensees, the trading margin will be as per the provisions of power sale agreements entered into between NTPC and the distribution licensees.

The Central Electricity Regulatory Commission determined an interim tariff of ₹3.62 (~$0.042)/kWh for Damodar Valley Corporation’s (DVC) 8 MW solar project at Panchet, West Bengal. DVC had requested approval for a tariff of ₹3.92 (~$0.046)/kWh. However, the Commission determined a lower amount considering the capital cost, regulatory norms, working capital interest, and other financial parameters.

Rajasthan Electricity Regulatory Commission approved a pre-determined levelized tariff of ₹3.04 (~$0.036)/kWh for 5,000 MW solar capacity under Component-A of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM). This tariff will also be the ceiling price in future competitive bidding processes. The Commission also directed power distribution companies to conduct system studies for proper grid integration, consider energy storage solutions, and ensure compliance with the PM-KUSUM guidelines.

The Reserve Bank of India increased the lending limit for the renewable energy sector in its new guidelines for priority sector lending, set to take effect from April 1, 2025. As per the revised guidelines, the limit of bank loans has been increased to ₹350 million (~$4.08 million) for renewable energy-based generators. Public utilities based on renewable power sources, like street lighting systems and remote village electrification, will also be eligible for priority sector classification.

REC Power Development and Consultancy invited bids for developing an ISTS system to evacuate 2,500 MW of renewable energy in Madhya Pradesh. The project aims to facilitate power evacuation from renewable energy projects located in the Rajgarh SEZ (Phase III) with a capacity of 1,500 MW and the Neemuch SEZ (Phase II) with a capacity of 1,000 MW. Bids must be submitted by May 28, 2025. Bids will be opened on the same day. The scope of work includes setting up 220 kV and 400 kV substations at various locations, installing 400/220 kV and 3x 500 MVA transformers at Pachora and Neemuch, and developing switchable line reactors at both ends of the major transmission lines.

Green transition-focused non-banking finance company Ecofy Finance secured a $12.5 million (~₹1.07 billion) long-term loan from Denmark government’s Investment Fund for Developing Countries. Ecofy will utilize the funds to expand its loan portfolio for electric vehicles and rooftop solar systems. A portion of the financing will be directed towards aiding individuals and small and medium-sized enterprises who lack funding to become green consumers. Axis Bank was the exclusive financial advisor to Ecofy for this transaction.