The Uttarakhand Electricity Regulatory Commission (UERC) issued the second amendment to UERC (Tariff and Other Terms for Supply of Electricity from Renewable Energy Sources and non-fossil fuel based Co-generating Stations) Regulations, 2023 (Principal Regulations). The amendments include changes to the nomenclature of the principal regulations, formal additions of battery energy storage systems (BESS) definitions, useful BESS life, depreciation, and tariff norms. They also revise benchmark tariffs for the canal bank and canal top solar projects. The amendments will change the regulations’ name to UERC (Tariff and Other Terms for Supply of Electricity from Renewable Energy Sources and non-fossil fuel based Co-generating Stations) (Second Amendment) Regulations, 2025.

NLC India invited bids to procure 579.74 MWp solar modules for an 810 MW project at Rajasthan Rajya Vidyut Utpadan Nigam’s solar park at Pugal in Bikaner district. Bids must be submitted by December 30, 2025. Bids will be opened on the same day. The scope of work entails the manufacturing, supply, packing and forwarding, and transportation of the solar modules for the projects. It also entails providing transit insurance for these modules. Selected bidders must provide the methodology for installing and commissioning the modules. They must provide demonstrations or training on the handling, installation, and commissioning of the modules to NLC India Renewables’ balance-of-systems contractor, if required.

Mahindra and Mahindra will procure power from a 150 MW hybrid renewable energy project in Maharashtra comprising 100.8 MW of wind and 50 MW of solar capacity, which is being developed by Gelos Solren. The transaction includes acquiring a 26% stake in one or more tranches in the paid-up equity share capital of Gelos Solren, a wholly owned subsidiary of Mahindra Susten, the clean-tech arm of the Mahindra Group. The company will subscribe to 10,53,877 equity shares of Gelos at ₹352.44 (~$3.93) per share, amounting to ₹371.43 million (~$4.14 million). This includes a premium of ₹342.44 (~$3.82). Mahindra and Mahindra had committed to this acquisition in April 2024.

Havells India announced that it will procure power from Kundan Solar’s 15 MW project in Rajasthan. Havells has acquired a 26% stake in Kundan Solar, a subsidiary of Kudan Green Energy, for ₹56.3 million (~$630,053) to procure power under a captive arrangement. The project’s payback period has been estimated at 12-18 months from commissioning. Havells and Kundan Solar will enter into a 25-year power purchase agreement. The company has planned investment in multiple tranches, and the acquisition is expected to be completed by June 30, 2026. The project is expected to be commissioned by the second quarter of the financial year (FY) 2026-27. In FY 2025, Havells installed 4.4 MW solar projects, raising its total solar capacity to 15.6 MW. The company has generated 65,000 MWh of solar energy to date.

Sterling and Wilson Renewable Energy (SWREL) secured a ₹13.81 billion (~$154.5 million) engineering, procurement, and construction (EPC) order from Adani Green Energy for solar projects in the Khavda region, Gujarat. The company has also signed a five-year strategic partnership framework agreement with Adani Green. The order is for a Balance of System package for three solar projects at the Khavda Renewable Energy Park in Gujarat. The order includes the supply of goods and on-site services. According to the company, this is its largest domestic EPC order in the current fiscal year. SWREL is executing about 6 GW of solar capacity in the Khavda region, of which around 5 GW is scheduled to be completed within this fiscal year.

Neogen Ionics, a subsidiary of Neogen Chemicals, formed a joint venture with Morita Investment, a subsidiary of Japan-based Morita Chemicals Industries, to advance the lithium-ion battery business. The JV, Neogen Morita New Materials, will leverage the technological and manufacturing capabilities of both organizations in the lithium-ion battery space. The new company will also focus on the production, development, and sale of solid LiPF6 salt, a key ingredient in the electrolyte used in these batteries. Under the JV, Neogen will own an 80% stake while Morita will hold a 20% stake by contributing $20 million. Morita has been a manufacturer of lithium salts for 30 years. The company has two LipF6 manufacturing plants in China and a presence in Europe and the U.S.