NHPC has invited bids to set up 1,500 MW of interstate transmission system (ISTS)-connected wind-solar hybrid power projects anywhere in India. The last day to submit the bids is December 12, 2023. Bids will be opened on December 15. The minimum capacity of each project should be 50 MW. The maximum capacity to be allocated to a bidder would be limited to 750 MW. Bidders can offer bids for multiple projects. Bidders must submit ₹300,000 (~$3,601) as a bid processing fee for capacity up to 50 MW, ₹500,000 (~$6,002) for capacity above 50 MW and up to 100 MW, ₹1 million (~$12,005) for capacity above 100 MW and up to 250 MW,  ₹2 million (~$24,010) for capacity above 250 MW and up to 500 MW, and ₹3 million (~$36,015) for capacity above 500 MW.

Gujarat Urja Vikas Nigam invited bids to procure power from 500 MW grid-connected hybrid renewable energy projects with the possibility of expanding the capacity by an additional 500 MW through the greenshoe option. The last date for the submission of bids is November 28, 2023. Bids will be opened on December 1, 2023. Bidders have to submit ₹25,000 (~$300) + 18% GST as the cost of the tender fee, and ₹1.5 million (~$18,017) + 18% GST has to be submitted as a non-refundable processing fee.

The National Institute of Wind Energy floated a tender for offshore geophysical and geotechnical investigations at different offshore wind sites in sub-zone-1, Gulf of Mannar, off the Tamil Nadu coast. The Ministry of New & Renewable Energy last month announced it would hold auctions for offshore wind sites along the Tamil Nadu coastline, with the NIWE overseeing these auctions. The first zone (B) is set to be tendered by February 1, 2023. The last date for the submission of bids is November 28, 2023. Bids will be opened on the same day.

Wind turbine manufacturer Suzlon Energy posted a net profit of ₹1.02 billion (~$12.2 million) during the second quarter (Q2) of the financial year (FY) 2024, an increase of 82% year-on-year (YoY). The increase in net profit can be attributed to the reduction in operating and other expenses during the quarter. The company reported a substantial reduction in quarterly finance costs by ~55% on a YoY basis, to ₹437 million (~$5.2 million). The company’s net revenue for the quarter was ₹14.17 billion (~$170.2 million), a decrease of 1% YoY.

Amara Raja Energy & Mobility recorded a profit of ₹2.26 billion (~$27.1 million) in Q2 FY 2024, a YoY increase of 12.5% from ₹2 billion (~$24.1 million). During the quarter, the company posted revenue of ₹29.59 billion (~$355.3 million), a YoY increase of 9.6% from ₹27 billion (~$324.2 million). Revenue growth was supported by increased volume in the automotive aftermarket, as well as in the telecom and UPS segments, with the new energy business also experiencing positive growth.

The Indian Energy Exchange recorded a profit after tax of ₹865 million (~$10.39 million) for Q2 FY 2024, a 21.5% YoY increase from ₹712 million (~$8.55 million). The Exchange recorded an electricity trading volume of 26.35 billion units (BU), a 15% YoY increase. The trading volume comprised 24.07 BU from the conventional power market and 747.64 MU from the green market segment. The green market segment witnessed a considerable dip of ~50% from 1.5 BU traded in Q2 FY23.

Hindustan Petroleum Corporation is investing over ₹14 billion (~$168.12 million) to build a Second Generation (2G) bio-refinery plant in Bathinda, Punjab, using paddy straw to produce ethanol as part of the government’s Ethanol Blending Program. About 100,000 Metric Tons (MT) of biomass will be secured for the 2G ethanol plant this year. The plant is set to be commissioned by the end of this year. The plant is designed to produce 100 kiloliters of ethanol per day, using 570 MT of paddy straw daily (equivalent to 200,000 MT annually) when it operates at full capacity.

Automobile manufacturer Toyota has announced an $8 billion investment in its United States-based facility, Toyota Battery Manufacturing North Carolina, aiming to increase capacity for battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). The expansion will involve adding eight more BEV/PHEV battery production lines to the previously announced two, for a total of ten battery lines. The plant will also have four battery lines for hybrid EVs. The battery production is expected to rise incrementally through 2030, targeting over 30 GWh annually.