ACME Cleantech Solutions, Juniper Green Energy, Tata Power Renewable Energy, Solarcraft Power India (Blupine), TEQ Green Power XVI (O2 Power), Hero Solar Energy, and ReNew Solar Power have won SJVN’s auction to supply 1,500 MW of power from interstate transmission system-connected renewable energy projects with energy storage across India. ACME (250 MW), Juniper (200 MW), and Tata (200 MW) won their quoted capacities at a tariff of ₹4.38 (~$0.0526)/kWh.

NTPC Renewable Energy, a wholly owned subsidiary of NTPC, has invited bids for the engineering, procurement, and construction package to develop 630 MW (2x 315 MW) grid-connected solar power projects in Barethi, Madhya Pradesh. The last date for the submission of bids is December 29, 2023. Bids will be opened the same day. Every bid submission should be supported by a bid security. The bid security for a single block (325 MW) is ₹200 million (~$2.4 million) and ₹500 million (~$6 million) for two blocks (2X325MW).

Tata Power, an integrated power company, clocked a net profit of ₹10.2 billion (~$122.5 million) in the second quarter (Q2) of the financial year (FY) 2024, marking a growth of 9% year-over-year (YoY). The company reported a net profit growth YoY for the 16th consecutive quarter. Tata Power’s consolidated revenue stood at ₹154.4 billion (~$1.8 billion), an increase of 9% YoY. The net profit and revenue growth was largely driven by higher revenue from core power generation, transmission, and distribution businesses.

Solid Power, which develops all-solid-state battery technology for electric vehicles (EV), recorded a net loss of $15.14 million during Q3 2023, a 22% YoY increase in losses compared to a loss of $12.4 million. The increase in net loss was mainly due to the company’s expanded efforts in building EV cells and increasing electrolyte production, which required additional investments.

Fuel cell manufacturer Ballard Power Systems has reported a net loss of $62.4 million (~$749,437) in Q3 of 2023, marking an increase of 46% YoY from a net loss of $42.9 million (~$515,238). This increase in net loss is primarily due to the proposed further restructuring of operations at Ballard Motive Solutions, leading to non-cash impairment charges of $26.3 million (~$315,868) for goodwill and intangible assets recognized during the quarter.

India Grid Trust (IndiGrid), a power infrastructure investment trust, has recorded a profit of ₹32.3 billion (~$388.91 million) during Q2 of FY 2024, a YoY decrease of 69.1% from ₹107.4 billion (~$1.29 billion) The company has earned a revenue of ₹6.95 billion (~$83.4 million), which was up 20% YoY, and the consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) was up 4% YoY to ₹5.58 billion (~$67 million).

Array Technologies, a utility-scale solar tracker company, reported a profit of $23.2 million for Q3 of 2023, a 42% drop from $40.6 million for the same period in 2022 due to a drop in revenue from the sale of trackers. The company also attributed the big YoY drop in profit to the $42.8 million legal settlement received by the company during Q3 of 2022. Array reported revenue of $350.4 million in Q3, registering a 32% YoY decrease against $515.0 million.