Large-scale solar project costs in India increased for the second consecutive quarter, according to Mercom’s Q1 2025 India Solar Market Update, average project costs rose 3% quarter-over-quarter and 1% year-over-year. The average selling price of Indian-made DCR-compliant modules increased in Q1 2025, fueled by strong demand from government programs like PM Surya Ghar and PM KUSUM and rising component costs. With developers scrambling to secure limited production slots, pricing pressure increased further. Meanwhile, non-DCR module prices declined slightly due to a correction following last quarter’s surge, primarily driven by anti-dumping duties on solar glass and aluminum frames.

The Ministry of Power proposed an amendment to the Electricity Rules 2025 to permit the sale, lease, and renting of energy storage systems (ESS). The Ministry invited comments on the draft amendment from stakeholders to be sent by July 10, 2025. The amendment provides a wider regulatory framework for ESS in India to introduce it as an independent energy infrastructure. ESS can be utilized either as an independent project or as part of a generation, transmission, or distribution system. It can also be developed, owned, leased, or operated by a generating company or a transmission, or a distribution licensee.

The Ministry of Power is enhancing India’s power transmission infrastructure with an ultra-high voltage alternating current transmission system. Nine 1,100 kV lines and ten substations have been identified for development by 2034, with an investment of ₹530 billion (~$6.2 billion). The Central Power Research Institute is developing the system’s testing facilities, according to Power Minister Manohar Lal.

Mercom India is hosting the fourth edition of its ‘C&I Clean Energy Meet’ in Coimbatore, Tamil Nadu, on June 13, 2025. Registration for the day-long event will start at 9:30 AM at the Welcomhotel by ITC Hotels. These clean energy meets aim to educate commercial and industrial energy consumers on the adoption of clean energy to reduce costs and make their operations sustainable. As a major industrial hub and textile capital, Coimbatore is witnessing an increase in rooftop solar installations.

Solar engineering, procurement, and construction firm SEPC received a letter of award from Parmeshi Urja for the EPC of 133 MW of solar projects under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) program in Maharashtra. The contract value for the works is ₹6.5 billion (~$76 million). In September 2024, Parmeshi Urja, a subsidiary of India Power, won the auction to develop the same 133 MW project across four districts in Maharashtra. The project originated from a tender floated by MSEB Solar Agro Power, a wholly owned subsidiary of the Maharashtra State Electricity Board Holding Company, in January 2024.

The West Bengal Power Development Corporation invited bids for biennial operation and maintenance of 10 MW ground-mounted solar power projects at the Sagardighi Thermal Power Project for two years. Bids must be submitted by July 9, 2025. Bids will be opened on July 11. The scope of work entails daily solar module washing, removal of ground faults and any other faults to ensure 100% project availability, and monitoring of string current, ambient temperature, and wind speed on an hourly basis. It also covers checking for defects at night before the start of solar hours.

NHPC issued a request for proposal for setting up 2.56 MW rooftop solar projects at various government buildings in Nagaland. Bids must be submitted by July 11, 2025. Bids will be opened on July 13. The scope of work includes the design, engineering, component procurement and supply, erection, and commissioning of the solar projects.  It also entails obtaining all the project permits and licenses. Selected bidders must provide net metering and obtain a no-objection certificate for the projects’ grid connectivity, if required. They must also ensure synchronization with the existing distribution network grid at the project locations. Only modules from the Approved List of Models and Manufacturers of a minimum 500 W capacity must be used in the projects.

NTPC raised an unsecured $750 million via an external commercial borrowing syndicated term loan facility. This loan will include a base issue of $500 million and a greenshoe option of $250 million, with a door-to-door tenor of 10 years and an average maturity of seven years. The proceeds will be utilized towards financing NTPC’s capital expenditure for existing or new capacity addition programs, including flue gas desulphurization projects, renewable energy projects, and refinancing of existing external commercial borrowing for capital expenditure purposes. Bank of Baroda acted as the transaction’s mandated lead arranger and underwriter of the transaction. HDFC Bank was the mandated lead arranger and bookrunner for the greenshoe portion of the transaction. The deal was executed through the IFSC banking units of Bank of Baroda and HDFC Bank in GIFT City, Gandhinagar.

U.S.-based energy storage firm Powin and its eight other subsidiaries filed for Chapter 11 bankruptcy protection in New Jersey. The company and its subsidiaries, PEOS Holdings, Powin China Holdings 1 and 2, Charger Holdings, Powin Energy Ontario Storage, Powin Energy Operating Holdings, Power Energy Operating, and Powin Project, list estimated assets and liabilities ranging from $100 million to $500 million. Powin’s creditors include Ace Engineering, Qingdao CIMC-POWIN New Energy Technology, Contemporary Amperex Technology, Celestica, Clean Energy Services CES, Formosa Electronic Industries, among others.

Hit by multiple macroeconomic challenges, U.S. residential solar fintech and energy-efficient home improvement platform Solar Mosaic filed for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas. The company aims to complete its restructuring and recapitalization through this filing. Solar Mosaic stated that its capital flows had been impacted by challenges, including high interest rates and legislation that threatened to remove residential solar tax credits. The company determined that a court-supervised restructuring and recapitalization process was the best option to maintain its loan servicing platform, achieve a full sale and marketing process for its assets, and maximize value for its stakeholders.