Anboto Solar (Solarpack), Apraava Energy, Avaada Energy, and ReNew Solar Power (ReNew) were declared winners in NTPC’s auction to set up 1,500 MW of interstate transmission system–connected solar power projects (Tranche-I) across India. Anboto Solar quoted the lowest tariff of ₹2.60 (~$0.0312)/kWh to win 300 MW capacity. Avaada and Apraava quoted a tariff of ₹2.65 (~$0.0318)/ kWh to win 500 MW and 300 MW, respectively. ReNew won 400 MW of the quoted 600 MW capacity at ₹2.65 (~$0.0318)/ kWh. The entire 1.5 GW capacity was allotted in the auction.

The Indian Energy Exchange traded 232 million units (MU) of green energy in December 2023, a 38% year-over-year (YoY) drop from 377 MU. The segment achieved a volume of 609 MU during the third quarter (Q3) of the financial year (FY) 2023-24, a 46% YoY drop from 1,130 MU. The Green Day-Ahead Market (GDAM) segment recorded trading of 216.6 MU, a 10% YoY drop compared to 241 MU. The segment saw participation from 187 market participants, achieving a weighted average price of ₹4.86 (~$0.058)/kWh. The GDAM segment achieved a volume of 579.6 MU during Q3 FY24.

The Central Electricity Regulatory Commission has allowed a renewable energy developer to claim compensation to offset the financial and commercial impact of change in law events on account of an increase in the rates of goods and service tax. It said the developer is also eligible for carrying costs calculated at the lowest of the actual interest rate, the renewable energy tariff regulations rate, or the late payment surcharge rate in the power purchase agreement.

Natural gas company GAIL (India) and ethanol producer TruAlt Bioenergy have announced an investment of $72 million to set up Compressed BioGas (CBG) plants through a joint venture. The term sheet signed by the two would ensure GAIL’s participation in TruAlt’s joint venture company, Leafiniti Bioenergy, the owner and operator of one of the country’s biggest CBG plants. TruAlt’s and GAIL’s shareholding in the venture will be 51% and 49%, respectively. The investment, which will be funded through a combination of debt and equity, will be subject to requisite approvals.

The designated Renewable Energy Implementing Agencies (REIA) by the Ministry of New and Renewable Energy (MNRE) issued 35.51 GW of project tenders until December 2023, against the 50 GW target for FY 2023-24. The MNRE shared the information in its year-end review published recently. In April 2023, MNRE issued an agency-wise bidding calendar for the REIAs – the Solar Energy Corporation of India, NTPC, NHPC, and SJVN – to deploy 50 GW of renewable energy projects every financial year till FY 2027-28.