Bid invitations for utility-scale solar projects in calendar year 2024 surpassed annual tender announcements of all previous years. Several entities floated tenders totaling 79.3 GW, up 39% from 57 GW in 2023. In 2024, 48.1 GW of utility-scale solar projects were auctioned, a 117% increase year-over-year (YoY) from 22.2 GW.

According to Mercom Capital Group’s newly released Annual and Q4 2024 Funding and M&A Report for Storage & Grid, corporate funding for energy storage companies, including venture capital investments, public market funding, and debt financing, increased 5% YoY. Corporate funding for energy storage companies grew to $19.9 billion in 116 deals in 2024, compared to $19 billion in 120 deals in 2023.

Telangana finalized its renewable energy policy for 2025, planning to add 20,000 MW of renewable energy and storage capacity additions by 2030. The policy will be valid until 2035. The state had recently issued a draft version of the policy. The state targets installing 30.54 GW of renewable energy from solar, wind, energy storage, and distributed sources by financial year (FY) 2030 and 47.06 GW by FY 2035. The state also plans to install 6,000 electric vehicle charging stations by FY 2030 and 12,000 stations by FY 2035.

Vaibhav Urja, an engineering, procurement, and construction company, issued an expression of interest for the supply of solar modules for 6 MW solar projects under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan in Rajasthan. Bids must be submitted by January 28, 2025. Shortlisted bids will be notified by February 10 and invited to submit detailed proposals. The projects are in three locations in Rajasthan, each with a 2 MW capacity.

The Solar Energy Corporation of India invited bids to set up 1,750 kW grid-connected rooftop solar projects for various institutions in five states. These projects will be set in Meghalaya, Chandigarh, Chhattisgarh, Assam, and New Delhi under the renewable energy service company model on a build-own-operate basis.

Railway Energy Management Company invited bids to select developers for supplying 500 MW of round-the-clock power from grid-connected renewable energy power projects (with or without storage) to the Indian Railways. Bidders must set up the projects on a build-own-operate basis. The project must be commissioned within 24 months.

NTPC Renewable Energy, a subsidiary of NTPC Green Energy, issued a tender to develop green hydrogen generation unit electrolyzer for a 1 MW green hydrogen mobility project in Kandla, Gujarat. Bidding is open for already selected manufacturers supplying proton exchange membrane (PEM) technology and non-PEM technology systems. The project must be commissioned in seven and a half months.

Rajasthan Electronics and Instruments invited bids rate contracts for grid-connected rooftop solar systems with a cumulative capacity of 2 MW across government buildings in northern India. The rate contracts involve survey, design, components supply (excluding photovoltaic modules), and commissioning the project. It also covers five years of comprehensive operation and maintenance services.

Donald Trump issued a raft of executive orders directing federal agencies to immediately pause the disbursement of funds through the landmark Inflation Reduction Act (IRA), which proposed spending millions of dollars to promote clean energy. However, the impact of executive orders on clean energy development is unlikely to be significant. According to the White House, contracts for 84% of all IRA funds have already been signed between federal agencies and clean energy companies.