Large industries in Odisha have the mandate of fulfilling Renewable Purchase Obligations owing to the captive thermal plants used to run their facilities. This regulatory necessity positions Odisha as a promising market for solar open access. However, to realize the potential of solar open access, Odisha will have to overcome the challenges arising from policy ambiguity relating to energy banking provisions, land availability, and limited transmission infrastructure.

Juniper Green Energy, Energizent Power (O2 Power), and Avaada Energy have won NHPC’s auction to set up 1,500 MW of interstate transmission system connected wind-solar hybrid power projects anywhere in India. Juniper won 150 MW capacity by quoting ₹3.48 (~$0.0419)/kWh, and Energizent won 300 MW at ₹3.49 (~$0.0421)/kWh. Avaada won 510 MW out of the total 750 MW bid capacity by quoting ₹3.49 (~$0.0421)/kWh. Aggregate bids received were for only 1,200 MW. The auction capacity was reduced accordingly to 960 MW. It was calculated as aggregate bid capacity x 0.8.

The Uttar Pradesh Power Corporation has invited bids from project developers to set up 2 GW of grid-connected solar power projects in India under the build-own-operate and maintain model for 25 years. The last date for submitting bids is March 18, 2024. Bids will be opened on the same day. The ceiling tariff for the projects is set at ₹2.70 (~$0.03)/kWh. Bidders have to submit a non-refundable document fee of ₹29,500 (~$355.35) and a bid processing fee of ₹500,000 (~$6,022.95) + 18% GST for each project from 50 MW up to 90 MW and ₹1.5 million (~$18,068.86) + 18% GST for each project from 100 MW and above.

NTPC Vidyut Vyapar Nigam, a wholly owned subsidiary of NTPC, has invited bids to set up 1.3 MW of rooftop solar power projects across three locations in two campuses of Indian Institute of Management Lucknow and National Institute of Defence Estates Management in Delhi. The last date for bid submission is February 26, 2024. Bids will be opened on the next day. Bid security is ₹1 million (~$12,000). The scope of work includes design, engineering, testing, installation, and operation and maintenance of rooftop solar systems for ten years.

Bihar State Power Generation Company has invited bids to procure power from a grid-connected ground-mounted solar power project with a raised structure over a pond and a capacity of 2 to 10 MW. The scope of work includes setting up the grid-connected solar PV project, including the transmission network up to the interconnection or delivery point. The maintenance cost of the high-tension line and other charges from the project will be borne by the developer.

Hartek Power, the power systems and transmission and distribution business unit of Hartek Group has won an order from SJVN Green Energy to develop, implement, and maintain a 75 MW grid-connected solar power project, along with a 132 kV substation in Jamui in Bihar. The comprehensive scope of work encompasses tasks including land development, design, and engineering, along with equipment procurement, testing at the manufacturer’s works, packing, forwarding, and transportation.

Karnataka Solar Power Development Corporation has issued a tender to develop a 300 MW grid-connected solar power project at Pavagada Solar Park. Bangalore Electricity Supply Company will procure the power generated by the project until March 31, 2044. The project’s estimated cost is ₹8.93 billion (~$107.56 million). The project must be commissioned within twelve months of receiving the work order. The last day to submit the bids is February 28, 2024. Bids will be opened on March 1. The tender application fee is ₹10.5 million (~$126,474).

Jammu and Kashmir Energy Development Agency has invited bids to empanel vendors for the rate contract to commission grid-connected solar power projects of 1 kW to 30 kW to solarize 4,000 existing agriculture pumps. The projects will be commissioned under Component-C of the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan Program. The selected vendors must complete the projects within three months of receiving the work order and also oversee the projects’ maintenance for five years.

Greater Noida-based solar module manufacturer Alpex Solar’s ₹745 million (~$8.9 million) maiden initial public offering of 6.48 million equity shares was subscribed 303 times with significant interest received from qualified institutional buyers, high net worth individuals, and retail investors. The QIB portion of the issue was subscribed 133 times, the HNI quota was subscribed 471 times, and the retail investors’ quota was subscribed 329 times, bringing the overall subscription to 303 times.

SJVN has recorded a net profit of ₹1.39 billion (~$16.74 million) during the third quarter of the financial year 2023-24, a year-over-year (YoY) decrease of 51.6% from ₹2.87 billion (~$34.57 million). The fall in profits was mainly due to less generation from SJVN’s two main hydropower projects, which decreased by 13.36% and 12.79%, respectively. This was mainly due to low precipitation in the catchment areas and, subsequently, low discharge in the Sutlej River.

Lithium-ion storage solutions provider Flux Power Holdings’ net loss for the second quarter of the financial year 2023-24 narrowed to $0.8 million from $1.7 million, a year-over-year (YoY) improvement of 52%, as the company lowered its average cost of sales per unit and recorded revenue growth during the quarter. The Nasdaq-listed firm sold more energy storage packs and raised prices for certain energy storage units, which led to a 7% rise in Q2 revenue to a record $18.3 million compared to $17.2 million in the same quarter last year.