Rajasthan has become the first state in India to achieve more than 50% solar in its total installed power capacity, according to Mercom’s India Solar Project Tracker. The state has approximately 23 GW of solar capacity, representing 51% of its total installed power capacity. Solar energy also dominates Rajasthan’s renewable portfolio, accounting for 76% of its total installed renewable energy capacity. In 2022, Rajasthan became the first state in India to surpass 10 GW of cumulative large-scale solar installations. Rajasthan is the top solar state in India, housing a quarter of India’s cumulative large-scale solar capacity.

The West Bengal Power Development Corporation (WBPDCL) has invited bids for the operation and maintenance of a 3.5 MW rooftop solar project at the Sagardighi thermal power project. The last date to submit the bids is September 6, 2024. Bids will be opened on September 10. The estimated value of the tender is ₹5.24 million (~$62,413) for two years. Bidders must submit an earnest money deposit of ₹1.04 million (~$1,249). If the accepted bid value is 80% or less of the estimate put to tender, the successful bidder must submit 10% of the tendered amount as additional performance security.

Bengaluru-based intercity electric bus startup Fresh Bus has raised ₹875 million (~$10.42 million) in a Series A funding round. The financing was led by the international early-stage transportation-focused VC fund Maniv. Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings also participated in the funding round. Fresh Bus will utilize the funds to launch 150 e-buses, expand its network to 15 new routes, enhance its technological capabilities, and strengthen its strategic team to drive growth. Founder and CEO of Fresh Bus Sudhakar Chirra said, “We expect to scale to 1,000 electric buses in pan-India over the next four years, generate skilled employment opportunities for thousands of people, and offer a green alternative for mass road transportation.”

Engineering and consulting firm Gensol Engineering has emerged as the winning bidder for a 237 MW hydrogen electrolyzer manufacturing capacity under the Production Linked Incentive (PLI) program in collaboration with Matrix Gas & Renewables, a natural gas aggregator and hydrogen infrastructure developer. This capacity was secured through a competitive tender by the Solar Energy Corporation of India. The Gensol-Matrix consortium has secured a cumulative 300 MW capacity, including a prior 63 MW awarded in the first tranche of the SECI tender. This equates to a total incentive of ₹4.5 billion (~$53.6 million) under the PLI program.

Inox Wind, a provider of wind energy solutions, has reported revenue of ₹6.51 billion (~$77.5 million) in the first quarter (Q1) of the financial year (FY) 2025, an 84.9% year-over-year (YoY) surge from ₹3.52 billion (~$41.9 million). The revenue increased by 16% from ₹5.63 billion (~$67 million) in Q4 FY24. The company’s EBITDA saw a rise of 349%, reaching ₹1.57 billion (~$18.6 million), up from ₹350 million (~$4.1 million) in the same quarter last year. This represents a 12% increase from ₹1.4 billion (~$16.6 million) in the previous quarter. Inox Wind reported a profit of ₹500 million (~$5.9 million), a turnaround from a loss of ₹650 million (~$7.7 million) in Q1 FY24.

Fuel cell manufacturer Ballard Power Systems‘ second quarter (Q2) 2024 revenue reached $16 million, a 4% year-over-year (YoY) increase. The growth was primarily driven by a 48% YoY increase in fuel cell product sales, which constituted 84% of total revenue, up from 59% in Q2 2023. The company reported a net loss of $31.46 million for Q2, up 4.5%from a net loss of $30.1 million during the same period in 2023. Adjusted EBITDA was approximately $35.4 million, compared to $34.2 million, a change of 3%YoY. Despite a strong start to the year with nearly $130 million in new orders in the first two quarters, Q2 saw a muted net order intake of $5 million.