The Ministry of New & Renewable Energy has invited proposals to set up Centers of Excellence under the National Green Hydrogen Mission Research and Development program. The applications must be submitted by December 19, 2024. The selected entities would be eligible for financial support of up to 50% of the project cost. These centers aim to accelerate the transition to a carbon-neutral economy by fostering advancements in green hydrogen production, storage, and utilization.

Ajmer Vidyut Vitran Nigam has invited bids for the design, supply, survey, installation, testing, commissioning, operation, and maintenance of 269 MW grid-connected solar power projects under Component A of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM KUSUM) program. The last date to submit the bids is November 29, 2024. Bids will be opened on December 3. Bidders must furnish an earnest money deposit of ₹100,000 (~$1,187)/MW. The cost of tender documents is ₹5,000 (~$59).

Smart energy storage company Stem‘s revenue in the third quarter (Q3) of 2024 dropped 78% to $29.3 from $133.7 million in Q3 2023 due to lower battery hardware sales. This decrease includes reductions of $5.6 million and $37.4 million, attributed to adjusted valuations of assets under specific hardware price guarantees established in 2022 and 2023. Stem’s net loss rose 92.3% year-over-year to $148.3 million from a $77.1 million net loss, primarily due to a $104.1 million bad debt expense related to impairments on accounts receivable for customer contracts with a parent company guarantee.

Waaree Renewable Technologies, the solar engineering, procurement, and construction (EPC) arm of the Waaree Group, posted a total revenue of ₹5.24 billion (~$62.24 million) in the second quarter (Q2) of the financial year 2025, an increase of 249.5% year-over-year (YoY). The revenue from the EPC segment alone surged by 255% YoY, reaching ₹5.2 billion (~$61.76 million). This performance is underscored by customer billing of ₹5.83 billion (~$69.26 million) for a volume of 528.56 MW, compared to ₹1.41 billion (~$16.74 million) for a volume of 169.59 MW YoY. The earnings before interest, taxes, depreciation, and amortization grew by 133.27% YoY to ₹715.7 million (~$8.5 million).

The Indian Energy Exchange traded 872 MU (million units) of green energy in October 2024, a 364% year-over-year (YoY) increase from 188 MU. The Green Day-Ahead Market achieved a volume of 829 MU in October 2024 with an average price of ₹3.60 (~$0.04)/kWh, an increase of 358% compared to 181 MU in the same month in 2023. The Green Term-Ahead Market achieved a volume of 43 MU in October 2024 with an average monthly price of ₹3.49 (~$0.04)/kWh for solar, ₹8.02 (~$0.09)/kWh for non-solar, and ₹5.03 (~$0.05)/kWh for hydro, compared to 7 MU in October 2023, an increase of 498% YoY.

Electric vehicle startup MOOEV Technologies has raised ₹40 million (~$474,683) in a seed funding round led by Bizdateup. The funding round included investors like Point Ventures and Spectrum Impact (Aarti Industries Family Office). The company will use the funds to accelerate the deployment of electric heavy-duty trucks and establish charging infrastructure for sustainable logistics across the country. MOOEV will deploy an initial fleet of 15 electric heavy-duty trucks, targeting the cement industry through long-term contracts with two major clients.