NTPC Renewable Energy, Juniper Green Energy, and Green Infra Wind Energy (Sembcorp) were declared winners in Solar Energy Corporation of India’s auction to develop 2,000 MW of interstate transmission system-connected wind-solar hybrid power projects (Tranche VII) anywhere in India. NTPC Renewable Energy quoted the lowest tariff of ₹3.15 (~$0.037)/kWh to win 300 MW. Juniper Green and Green Infra Wind Energy quoted ₹3.21 (~$0.038) to win 150 MW and 450 MW, respectively.

MSEB Solar Agro Power, a wholly-owned subsidiary of Maharashtra State Electricity Board MSEB Holding Company, has invited bids to procure 366 MW of solar power under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan program for feeder-level solarization. The projects would be developed under the second phase of the Mukhyamantri Saur Krushi Vahini Yojana program. The last day to submit the bids is February 27, 2024. The bid opening date will be announced later.

The Karnataka Electricity Regulatory Commission approved ₹70.6 million (~$849,791) compensation to Solitaire Powertech over the reported generation loss of 15,949 MWh for its 30 MW solar project, following the final estimations submitted by the Grid Controller of India. Solitaire Powertech filed a petition seeking compensation for a generation loss of 28,242 MWh for their 30 MW solar project from August 2020 to September 2021. The respondents in the case were Karnataka Power Transmission Corporation and Solar Energy Corporation of India.

NTPC Green Energy, a subsidiary of NTPC, has invited bids for the supervision of operation and maintenance, and civil works of a 225 MW solar power project at Bilhaur in Uttar Pradesh. The scope of the work involves predicting and planning activities, overseeing supervisory control and data acquisition systems, managing project preventive maintenance, handling general operations and maintenance tasks, and addressing daily site/project office responsibilities. The last date for the submission of bids is January 15, 2024. Bids will be opened the next day.

MSEB Solar Agro Power, a wholly-owned subsidiary of MSEB Holding Company, has invited bids to procure 231 MW of solar power for feeder-level solarization under Component C of Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan program. The projects will be developed under the second phase of the Mukhymantri Saur Krushi Vahini Yojana program. The last date for the submission of bids is February 27, 2024.

Airtel Business, the B2B arm of Bharti Airtel, announced that it would supply Internet of Things (IoT) solutions to power over 20 million smart meters for Adani Energy Solutions (AESL). Airtel’s smart metering offerings are powered by Narrowband-IoT, 4G, and 2G technologies to ensure real-time connectivity and uninterrupted transfer of critical data between smart meters and headend applications. AESL’s 20 million smart meter order book is spread across power utilities of Assam, Andhra Pradesh, Bihar, Maharashtra, and Uttarakhand.

Karnataka Electricity Regulatory Commission has directed Hubli Electricity Supply Company (HESCOM) to pay any amounts found due within two months, from December 2021 to August 2022, to the developer of a 17 MW solar project. In default of payment, HESCOM will incur interest at the rate of 9% per annum on the total outstanding amount found due from the date of default until the date of full payment. Chirasthaayee Saurya, the petitioner in this case, approached the Commission seeking a declaration of the applicability of the Late Payment Surcharge on the differential tariff of ₹1.74 (~$0.021)/kWh.

Power infrastructure investment trust IndiGrid has signed a share purchase agreement to acquire ReNew’s 300 MW solar project in Rajasthan at an enterprise valuation of ₹15.5 billion (~$186.5 million). The valuation, inclusive of working net capital and cash, stands at ₹16.5 billion ($198.58 million). The asset, ReNew Solar Urja, located in Jaisalmer, has been operational since December 2021. The project has a 25-year power purchase agreement with Solar Energy Corporation of India at ₹2.71 (~$0.033)/kWh. The project has been operational and revenue-generating for the past two years, and in 2022-23, the solar project delivered a net plant load factor of 27.42%.

The Board of Directors of Indowind Energy, a wind power project developer, has proposed to issue 22.5 million convertible warrants to eligible proposed allottees on a preferential basis. These warrants will be made available at ₹17.5 (~$0.21)/ warrant, with each warrant being convertible into one equity share, having a face value of ₹10 (~$0.12), and being fully paid up at a premium of ₹7.5 (~$0.09) in cash. The aggregate consideration for this issuance is set at up to ₹393.75 million (~$4.73 million). Upon successful allotment, it is anticipated that the promoters will maintain a 50.9% stake while the public will hold the remaining 49.1% of the post-issue paid-up capital.