The Ministry of Power mandated that all renewable energy implementing agencies and state utilities incorporate a minimum two-hour co-located energy storage system equivalent to 10% of the installed solar capacity in all solar tenders. The Ministry said distribution licensees could also consider mandating two-hour storage with rooftop solar installations. If the proposed mandates are implemented, the government expects approximately 14 GW/28 GWh of storage to be installed by 2030.

The Rajasthan government announced 150 units of free monthly electricity for the beneficiaries of the Chief Minister Free Electricity Program. The announcement was made by the state Finance Minister, Diya Kumari, while presenting the state budget for 2025-2026. Leveraging the PM Surya Ghar: Muft Bijli Yojana, the government has said it will install free rooftop solar systems for the beneficiaries of the state program which was providing 100 units of free electricity. The free units have now been increased to 150.

Power Grid Corporation of India invited bulk contract bids to supply and install 7 MW of rooftop solar systems on its buildings in northern and western regions under the PM Surya Ghar: Muft Bijli Yojana. The northern region will have a total capacity of 4 MW, while the total capacity will be 3 MW for western regions. In the western region, the total capacity will be 3 MW, with installations in Gujarat, Madhya Pradesh, Dadra and Nagar Haveli, Daman and Diu, Maharashtra, Goa, and Chhattisgarh.

The Assam Power Distribution Company invited bids to set up rooftop solar projects with a cumulative capacity of 134 MW across government buildings under the PM Surya Ghar: Muft Bijli Yojna. The capacity will be divided into 76 MW in lower Assam, 31 MW in central Assam, and 27 MW in upper Assam. Bids must be submitted by March 11, 2025. Bids will be opened on March 12. The scope of work entails the design, supply, installation, testing, and commissioning of the projects.

Rooftop solar financing company Credit Fair raised $5 million (₹415 million) from the $75 million (₹6.22 billion) ‘Green Basket Bond’ issued by Symbiotics Investments. Credit Fair intends to use the funds to finance 2,500 rooftop solar projects, targeting residential customers, micro, small, and medium enterprises, and housing societies in tier-2 and tier-3 cities. It also aims to utilize the funds to provide financing options to underserved communities and make renewable energy accessible.

The Ministry of Heavy Industries signed a program agreement with Reliance New Energy Battery, a subsidiary of Reliance Industries, for a capacity of 10 GWh under the Production Linked Incentive (PLI) Program For Advanced Chemistry Cell (ACC). With this agreement, a cumulative capacity of 40 GWh has been allocated to four firms out of the total 50 GWh capacity. The initial bidding for the ACC Energy Storage PLI Program concluded in March 2022, awarding 30 GWh capacity to Ola Electric Mobility (20 GWh), Reliance New Energy (5 GWh), and Rajesh Exports (5 GWh).

Borosil Renewables reported a net loss of ₹300.7 Million (~$3.46 million) in the third quarter (Q3) of the financial year (FY) 2025, from a loss of ₹158.9 million (~$1.83 million) in Q3 FY 2024. The company attributed the higher loss to a significant reduction in average selling prices of solar glass, which dropped from ₹113 (~$1.3)/mm in Q2 FY 2025 to ₹108 (~$1.2)/mm in Q3 FY 2025 due to price cuts by Chinese exporters and lower ocean freight costs. The company’s revenue for the quarter stood at ₹3.61 billion (~$41.52 million), a 9.4% year-over-year growth but a 3.1% quarter-over-quarter decline.

Government-owned power generation company SJVN’s revenue rose to ₹7.61 billion (~$87.52 million in Q3 FY 2025, a 25% year-over-year (YoY) increase from ₹6.08 billion (~$69.92 million). Revenue from renewable energy sources (wind and solar) increased 265% YoY to ₹530.2 million (~$6.09 million) from ₹145.3 million (~$1.67 million). The company’s net profit increased 7% to 1.49 billion (~$17.13 million) compared to ₹1.39 billion (~$15.98 million) in the corresponding quarter of FY 2024.