After wind and solar, the Ministry of Power has now introduced new guidelines for tariff-based competitive bidding for grid-connected wind-solar hybrid power projects, aiming for transparency, fair procurement, and competitive prices. The revised guidelines encompass revised bid capacity limits, altered timelines, regulations on power procurement, and penalties for delays. These changes aim to stabilize and mitigate risks within the renewable energy sector by establishing a structured framework for long-term hybrid power transactions.

Establishing solar and wind projects to fulfill the Indian government’s goals is hampered by challenges associated with land acquisition. These projects often face hurdles arising from procedural delays, environmental factors, and social tensions. The bigger challenge for project developers is cracking the puzzle of land records. Land ownership is plagued by a glaring disconnect between official documentation and ground reality. This has resulted in renewable energy projects getting drawn into legal battles over land ownership and usage.

The Ministry of New and Renewable Energy has formulated three models for developing offshore wind energy projects, especially along the extreme southern and western shorelines of the country. The Ministry has also issued calls for proposals to conduct surveys on identified offshore wind project sites under the newly formulated models. NIWE conducted a thorough investigation and identified eight zones off the coasts of Tamil Nadu and Gujarat with the potential for developing offshore wind projects.

The Jodhpur Vidyut Vitran Nigam has floated a tender for developing 31.96 MW of grid-connected solar power projects under Component ‘C’ of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyaan program for feeder solarization. The project will be developed using the renewable energy service company model and located across CSD-II Pali, CSD-III Pali, Rohat, and Rural Pali subdivisions of the Pali Division under the Pali Circle. The last date for the submission of bids is October 9, 2023. Bids will be opened on September 11.

Assam Power Distribution Company has invited bids to select consultants for the preparation of a feasibility cum detailed project report for the development of a megawatt-scale wind power project at Khandong Dyke and its surrounding area within a radius of 60 km located in the Dima Hasao district of Assam. The scope of work also involves soil investigation, geotechnical survey, topography survey, contour survey, and hydrological study. The last date for the submission of bids is September 5, 2023. Bids will be opened on September 7.

Inox Green Energy Services has announced that its subsidiary, I-Fox Windtechnik India, has secured an operations & maintenance (O&M) contract for 51 MW wind turbine generators from NLC India. The contract encompasses a comprehensive suite of O&M services for the wind power projects in Tamil Nadu, encompassing the power evacuation system, spanning five years. Over this contract term, the estimated value is expected to be ₹400 million (~$4.8 million).

Power Finance Corporation has recorded a net profit of ₹59.82 billion (~$720.9 million) for the first quarter (Q1) of the financial year (FY) 2024, a year-over-year (YoY) increase of 31% mainly due to an increase in total income. PFC posted a total income of ₹210.01 billion (~$2.5 billion) during the April-June period, an increase of 13% YoY. PFC’s consolidated disbursements surged more than threefold to ₹569.25 billion (~$6.8 billion) from ₹170.84 billion (~$2 billion) a year ago.

SJVN Limited, a joint venture between the Government of India and the Government of Himachal Pradesh, has registered a net profit of ₹2.7 billion (~$32.5 million) during Q1 of FY 2023-24, a YoY decrease of 55.5% from₹6.08 billion (~$73.1 million). The company registered a revenue of ₹7.38 billion (~$88.8 million), a YoY decrease of 31% from ₹10.71 billion (~$128.9 million). Net profit margin (i.e., profit for the period/revenue from operations) stood at 40.66% as compared to 60.40% achieved during Q1 2022.