ACME Solar Holdings’ ₹29 Billion IPO to Hit the Market on November 6, 2024

Jodhpur DISCOM Tenders 333 MW Solar Projects Under PM KUSUM

CIE Automotive to Procure Power from ReNew’s 7.8 MW Captive Solar Project

John Cockerill to Supply Electrolyzers to AM Green’s Ammonia Project

Varroc to Procure Power from AMPIN’s 27 MW Solar Project in Maharashtra

JinkoSolar’s Revenue Drops 23% YoY in Q3 Due to Lower Module Prices

First Solar Revenue Falls Short in Q3, Revises 2024 Guidance Amid Sector Pressures

Tata Power Records 20th Consecutive Quarter of Profit in Q2 FY 2025

SECI Floats Tender to Procure 1.2 GW Round-the-Clock Renewable Power

Daily News Wrap-Up: APTEL Criticizes MERC for Denying Petitioner Relief


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/04/amazon_polly_53183.mp3?version=1682677302">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The Ministry of Heavy Industries (<a href="https://heavyindustries.gov.in/" target="_blank" rel="noopener">MHI</a>) has released standard operating procedures (SOPs) under the Production Linked Incentive (PLI) program for automotive companies and component manufacturers to get their products tested and certified.</p>
<p>The program proposes financial incentives to boost domestic manufacturing of AAT products and attract investments in the automotive manufacturing value chain. It has two parts— Champion OEM, which will make electric or hydrogen-powered vehicles, and Component Champions, which will make high-value and high-tech components.</p>
<p>Under the SOPs, companies and parts manufacturers can submit applications for the testing and certification of advanced automotive technology (AAT) components. Original equipment manufacturers can also submit their applications.</p>
<p>The PLI program for automobiles and auto components will provide financial incentives to boost domestic manufacturing of AAT products in the country. The program is aimed at attracting investments in the automotive manufacturing value chain.</p>
<p>The government through the PLI program for automobiles aims to resolve cost disabilities and economically scale the sector while strengthening the supply chain for components to be manufactured using advanced automotive technology.</p>
<p>Applicants must achieve 50% domestic value addition (DVA) to claim incentives under the program. Auto companies and component manufacturers must calculate and present the DVA across their supply chain and submit the details to the respective testing agencies.</p>
<p>MHI <a href="https://www.mercomindia.com/pli-ev-manufacturing-approved" target="_blank" rel="noopener">notified</a> the PLI program for automobile and auto components in September 2021.  The PLI program aims to encourage the industry to make fresh investments to make advanced auto products.</p>
<p>According to Union Minister of Heavy Industries Mahendra Nath Pandey, “The Ministry is trying to align itself with the Prime Minister&#8217;s vision of Aatmanirbhar Bharat, and these SOPs will not only help to achieve that but will also help to increase the manufacturing foothold. With this, the ministry aims to boost the domestic manufacturing sector and reduce dependence on imports, thereby creating more job opportunities for Indians. The program is expected to attract significant investments and help India become a global hub for automobile manufacturing.”</p>
<p>Last year, the ministry <a href="https://www.mercomindia.com/daily-news-wrap-up-pli-auto-sector-accelerate-investments" target="_blank" rel="noopener">notified</a> that the program has attracted a proposed investment of ₹748.5 billion (~$9.82 billion). Over five years, the target investment estimate was ₹425 billion (~$5.57 billion). The proposed investment of ₹450.16 billion (~$5.90 billion) was from approved applicants under the Champion OEM Incentive program and ₹298.34 billion (~$3.91 billion) from approved applicants under the Component Champion Incentive program.</p>


Government Sets Norms for Auto Components Certification Under PLI Program  


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/04/amazon_polly_52648.mp3?version=1681706469">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><strong><a href="https://www.mercomindia.com/msedcl-invites-615-mw-across-maharashtra" target="_blank" rel="noopener">Maharashtra State Electricity Distribution Company has issued multiple tenders to develop solar projects of 615 MW in aggregate capacity split into four different regions of the state.</a> </strong>The ground-mounted projects would be built on government-owned land. The tenders include projects with a capacity of 100 MW in Aurangabad-II, 76 MW, and 105 MW in Aurangabad-III, 143 MW in the Pune region, and another 191 MW in the Konkan region of the state. The last date for the submission of bids is May 8, 2023. Bids will be opened on the same day.</p>
<p><strong><a href="https://www.mercomindia.com/national-automotive-board-1-2-mw-solar-project" target="_blank" rel="noopener">The International Centre for Automotive Technology, a division of the government-run National Automotive Board division, has invited bids for consultancy services to extend the existing 1.2 MW solar project in Manesar, Haryana.</a> </strong>The scope of work includes a site survey and establishing liaisons with departments under state and central governments to prepare a detailed project report. The last date to submit the bids is April 27, 2023.</p>
<p><strong><a href="https://www.mercomindia.com/ifc-loan-fertilizer-producer-solar-morocco" target="_blank" rel="noopener">International Finance Corporation has signed an agreement with phosphate-based fertilizer producer OCP for a €100 million (~$110.5 million) green loan to build four solar projects of 202 MW in Morocco.</a></strong> The projects will be constructed in the mining towns of Benguerir and Khouribga, home to Morocco’s largest phosphate reserves. The project is part of OCP&#8217;s $13 billion Green Investment Program, which aims to increase its green fertilizer production and transition its operations to green energy by 2030.</p>
<p><strong><a href="https://www.mercomindia.com/eu-launches-first-tender-financing-mechanism" target="_blank" rel="noopener">The European Commission has approved the inauguration of a cross-border tender to promote renewable energy in the union.</a></strong> The tender is being carried out as part of the renewable energy financing mechanism and is a result of Luxembourg and Finland&#8217;s pledge to collaborate under this initiative. This call for proposals is the first-ever cross-border tender between EU member states. The Commission said this signifies a new era of collaboration in the field of renewable energy and accomplishing the goals of the European Green Deal and REPowerEU.</p>
<p><strong><a href="https://www.mercomindia.com/germany-solar-auction-oversubscribed" target="_blank" rel="noopener">In what indicates a possible revival in Germany’s renewable sector, the country’s solar auction was oversubscribed with 347 bids totaling 2.87 GW submitted for a tendered quantity of 1.95 GW of ground-mounted and non-building solar systems, according to the Federal Network Agency (Bundesnetzagentur).</a> </strong>Of the submitted bids, 245 were accepted, while 25 were excluded due to formal errors.</p>
<p><strong><a href="https://www.mercomindia.com/researchers-say-a-barrier-lithium-dendrite-growth-in-batteries" target="_blank" rel="noopener">A team of researchers from the University of Surrey, the National Physical Laboratory, and the University College London have developed a unique layer between the solid-state electrolyte and the lithium metal anode, preventing unwanted electrons from entering the electrolyte and causing issues like losing power or short-circuit.</a> </strong>By altering the internal electron flow of the battery, the researchers addressed the issue of “lithium dendrite growth.” This problem arises when tiny pieces of lithium metal accumulate in the battery.</p>


Daily News Wrap-Up: MSEDCL Invites Bids for 615 MW Solar Projects Across Maharashtra


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/04/amazon_polly_52626.mp3?version=1681452796">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The International Centre for Automotive Technology (<a href="https://icat.in/" target="_blank" rel="noopener">ICAT</a>), a government-run National Automotive Board division, has invited bids for consultancy services to extend the existing 1.2 MW solar project in Manesar, Haryana.</p>
<p>The scope of work includes a site survey and establishing liaisons with departments under state and central governments to prepare a detailed project report.</p>
<p>The last date to submit the bids is April 27, 2023. ICAT does not specify the bid opening date.</p>
<p>The consultancy firm must have been in operation for a minimum of 5 years and must have at least one structural engineer with a minimum experience of 5 years.</p>
<p>The successful bidder shall prepare electrical single-line diagrams and mechanical drawings. The bidder is required to submit the detailed earthing design for the project.</p>
<p>The bidder must perform lightning protection calculations and submit a design of AC cable for the project. Apart from designing the walkway, the bidder must undertake the work of the water supply system.</p>
<p>There is no Earnest Money Deposit and Performance Bank Guarantee for the above tender. The tender document is free of charge, per the tender terms.</p>
<p>The successful bidder must complete the work within 30 days from the date of issue of the award letter.</p>
<p>The bidder shall necessarily be a legally valid entity in the form of a proprietary, partnership firm, or private company. Bidders in the form of joint ventures and consortiums are not permitted to participate in the process.</p>
<p>The bidder must have a cumulative consultancy turnover of at least ₹1 million (~$12,258.3) exclusively from consultancy works in the last three financial years.</p>
<p>In the last three years, the bidder should have successfully completed a minimum of 3 consultancy works worth ₹118,000 each (~$1,446.5) or must have completed one work amounting to ₹147,500 (~$1,808.2) or should have completed at least one work worth ₹236,000 (~$2,892.9).</p>
<p>The bidder should have prepared a detailed project report of at least one project of 1000 kWh capacity in the past.</p>
<p>Earlier this month, Hindustan Petroleum Corporation (HPCL) <a href="https://www.mercomindia.com/hpcl-11-mw-solar-uttar-pradesh-haryana" target="_blank" rel="noopener">invited</a> bids for the engineering, procurement, and construction of 11 MW of solar power projects at its Panipat and Jhansi site for captive use in the states of Uttar Pradesh and Haryana.</p>
<p>In December 2022, the Haryana Electricity Regulatory Commission <a href="https://www.mercomindia.com/haryana-notifies-wind-hydro-energy-storage-obligation-until-fy30" target="_blank" rel="noopener">amended</a> its renewable purchase obligation policy to include wind energy in the RPO and move solar energy into the ‘other RPO’ category.</p>


National Automotive Board Invites Consultancy Bids for 1.2 MW Solar Project


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2022/12/amazon_polly_46315.mp3?version=1671092769">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://www.mahindra.com/" target="_blank" rel="noopener">Mahindra and Mahindra</a> said that the Maharashtra government has approved its plan to invest ₹100 billion (~$1.2 billion) for an electric vehicle (EV) manufacturing facility in Pune.</p>
<p>The company said that the investment will be made through its subsidiary over a period of 7-8 years.</p>
<p>The investment will also be directed toward the production of Mahindra’s upcoming Born Electric Vehicles (BEVs), a few of which were exhibited in the UK earlier this year.</p>
<p>These electric-only vehicles will be based on the INGLO EV platform and rolled out under the brand name BE. It will include the e-SUVs under the brand name XUV.</p>
<p>The Executive Director, Auto &amp; Farm Sectors, Mahindra &amp; Mahindra, Rajesh Jejurikar said, “We are delighted with this approval from the Government of Maharashtra for setting up our EV manufacturing plant in Pune, and investing in what has been our ‘home’ state for over 70 years. The Government’s focus on ‘ease-of-doing-business’ and progressive policies, together with Mahindra’s investment, will catalyze Maharashtra to become India’s EV hub, attracting further Indian and foreign direct investment.”</p>
<p>Last year, the Maharashtra government <a href="https://mercomindia.com/maharashtras-draft-ev-policy-25-e-public-transport-2025/" target="_blank" rel="noopener">announced</a> the Draft Electric Vehicle Policy, 2021, aiming to bolster the adoption of sustainable and clean mobility services in the state. The recommendation is valid until March 31, 2025. The draft policy sets a target to achieve 25% electrification of public transport in five prime urban clusters of Maharashtra in the next three years. It also proposes converting 15% of the state transport’s existing buses to EVs during the policy period.</p>
<p>Last month, the Pune Municipal Corporation <a href="https://mercomindia.com/pmc-bid-electric-vehicle-charging-stations/" target="_blank" rel="noopener">called</a> for proposals for the commissioning, operation, and maintenance of public EV charging stations at various locations in the city.</p>
<p>According to statistics <a href="https://mercomindia.com/electric-two-four-wheeler-sales-increase-q3-2022/" target="_blank" rel="noopener">released</a> by the Ministry of Road Transport and Highways in October, retail sales of EV totaled 257,278 units in the third quarter of 2022, representing a 183% year-over-year increase from 90,831 units sold in the same quarter of 2021.</p>


automotive

Get the most relevant India solar and clean energy news.

RECENT POSTS