Center and States Must Align Better for Accelerated Solar Open Access Growth

Daily News Wrap-Up: Corporate Funding in the Solar Sector Dropped 24% YoY in 2024

Project Finance Brief: Emeren Sells 65 MW Solar Portfolio in Germany

Funding and M&A Roundup: Moment Energy Secures $15 Million

POWERGRID Invites Bids for 1.07 MW Rooftop Solar Project at NIT Durgapur

Adani Bags $2.89 Billion 6 GW Renewable Energy Transmission Project

NHPC Invites Bids for 125 MW/500 MWh Standalone BESS

Germany Adds 16.2 GW of Solar Capacity in 2024, Sets New Record

REIL Floats Rate Contract Tender for 17.55 MW Rooftop Solar Projects

NHPC Invites Bids for 39.73 MW Rooftop Solar Projects in Sikkim and J&K


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					</table><p>JSP Green, Adyant Enersol, Green Prairie Energy IV, AMPIN Energy Utility, Adani Renewables Energy Holding Twelve <a href="https://www.mercomindia.com/adani-ampin-jindal-among-winners-of-ntpcs-1-2-gw-wind-solar-hybrid-auction" target="_blank" rel="noopener">won</a> NTPC’s auction to supply 1,200 MW wind-solar hybrid power from projects connected to the inter-state transmission system with a greenshoe option of up to 600 MW. JSP Green won 350 MW at a tariff of ₹3.38 (~$0.0395)/kWh. Adyant Enersol, Green Prairie Energy IV, and AMPIN Energy Utility won 150 MW, 200 MW, and 150 MW, respectively, at a tariff of ₹3.44 (~$0.0402)/kWh.</p>
<p>Mercom India <a href="https://www.mercomindia.com/mercoms-most-impactful-interviews-in-2024-heres-what-clean-energy-experts-said" target="_blank" rel="noopener">conducted</a> a series of exclusive interviews with top executives from the renewable energy sector and government agencies, sharing their insights on the industry and the way forward. Here is a look back at some impactful interviews that delve into renewable energy policies, the rooftop solar sector, smart metering innovations, commercial and industrial solutions, and parametric insurance for the renewables sector.</p>
<p>In 2024, India <a href="https://www.mercomindia.com/indias-top-five-utility-scale-solar-tenders-in-2024-infographics" target="_blank" rel="noopener">witnessed</a> significant momentum in the renewable energy sector, with tenders for nearly 70 GW of utility-scale solar projects issued nationwide. Among these, Rajasthan emerged as a leader. The largest tender of the year, launched by Rajasthan Urja Vikas and IT Services, targeted 8,000 MW of ground-mounted solar projects. These projects are designed to integrate with the state transmission utility at a voltage level of 33 kV or higher.</p>
<p>Approximately 11 GW of wind-solar hybrid tenders (without storage) were <a href="https://www.mercomindia.com/top-wind-solar-hybrid-infographics" target="_blank" rel="noopener">issued</a> during 2024 by various implementing agencies. These hybrid projects gained momentum as they offered more consistent energy supply and better capacity utilization than standalone wind or solar projects. Their co-located design minimizes land use and allows shared evacuation infrastructure. This article provides an overview of the top wind-solar hybrid project tenders floated in 2024, based on Mercom India Research.</p>
<p>The Jharkhand Renewable Energy Development Agency <a href="https://www.mercomindia.com/jreda-floats-eoi-for-3-gw-solar-projects-in-jharkhand" target="_blank" rel="noopener">issued</a> an expression of interest to develop 3 GW of grid-connected ground-mounted solar photovoltaic projects in Jharkhand in a build-own-operate mode. Bids must be submitted by January 15, 2025, and will be opened on January 17. Selected bidders must identify suitable land, design, build, and construct the energy evacuation facilities for the projects.</p>
<p>The Ministry of New and Renewable Energy has <a href="https://www.mercomindia.com/mnre-guidelines-muft-bijli-yojna-pm-surya-ghar" target="_blank" rel="noopener">issued</a> guidelines for implementing two critical components of the PM Surya Ghar: Muft Bijli Yojana program. The first component pertains to the central financial assistance for residential consumers eligible under the renewable energy service company (RESCO) and utility-led aggregation models. The second component involves the payment security mechanism to cover defaults and delays and ensure timely payments to RESCO developers.</p>
<p>Waaree Renewables Technologies (WRTL), a subsidiary of Waaree Energies, has <a href="https://www.mercomindia.com/waaree-secures-2-gw-solar-epc-contract-from-jindal-renewables" target="_blank" rel="noopener">secured</a> an engineering, procurement, and construction (EPC) contract for a 2 GW solar project in Bikaner, Rajasthan, from Sunbreeze Renewable Nine, a special-purpose vehicle of Jindal Renewables. This is the largest-ever solar EPC contract bagged by Waaree. The scope of work includes designing, engineering, procuring, supplying, constructing, testing, and commissioning the solar project. WRTL will also ensure clean energy delivery to the designated point of injection.</p>
<p>Noida-based rooftop solar solutions and products company Fujiyama Power Systems (UTL Solar) has <a href="https://www.mercomindia.com/fujiyama-raise-funds-ipo" target="_blank" rel="noopener">filed</a> the draft red herring prospectus in preparation for an Initial Public Offering (IPO). The IPO, with a face value of ₹1 (~$0.012) per share, comprises a fresh issue of shares worth up to ₹7 billion (~$81.77 million) and an offer-for-sale of up to 20 million shares. The company aims to use the proceeds from the fresh issue amounting to ₹2.5 billion (~$29.20 million) to establish a manufacturing facility in Ratlam, Madhya Pradesh, ₹3 billion (~$35.05 million) to repay outstanding borrowings, and the rest for general corporate purposes.</p>
<p>BatX Energies (BatX), an India-based sustainable and circular Lithium-ion (Li-ion) battery recycling company, has <a href="https://www.mercomindia.com/batx-energies-launches-facility-in-uttar-pradesh" target="_blank" rel="noopener">inaugurated</a> its critical minerals extraction project (HUB-1) in Sikandrabad, Uttar Pradesh. The facility aims to extract high-purity lithium, cobalt, nickel, and manganese from used Li-ion batteries to address the resource demands of India’s growing electric vehicle market. This facility builds on BatX’s black mass production unit, established in 2022 in the same region. The company has scaled its operations to a commercial level after a 21-month industrial pilot in 2023.</p>


Daily News Wrap-Up: Adani, AMPIN, Jindal Win NTPC’s 1.2 GW Hybrid Auction


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					</table><p><a href="https://batxenergies.com/" target="_blank" rel="noopener">BatX Energies</a> (BatX), an India-based sustainable and circular Lithium-ion (Li-ion) battery recycling company, has inaugurated its critical minerals extraction project (HUB-1) in Sikandrabad, Uttar Pradesh. The facility aims to extract high-purity lithium, cobalt, nickel, and manganese from used Li-ion batteries to address the resource demands of India&#8217;s growing electric vehicle market.</p>
<p>This facility builds on BatX’s black mass production unit, established in 2022 in the same region. The company has scaled its operations to a commercial level after a 21-month industrial pilot in 2023.</p>
<p>BatX said the project has integrated an advanced hydrometallurgical process, which was developed in-house to recycle all types of Li-ion battery waste, including rejects from upcoming gigafactories.</p>
<p>The company claims its hydrometallurgical process produces materials suitable for specialty applications and Li-ion cell manufacturing. It complies with the Battery Waste Management Rules 2022 established by the Ministry of Environment &amp; Forest (<a href="https://moef.gov.in/" target="_blank" rel="noopener">MoEF</a>).</p>
<p>BatX claims its facility operates with zero emissions and zero waste to achieve low energy consumption. The project aims to reduce costs by converting black mass into critical metals locally and make battery recycling more sustainable and economically viable across the supply chain.</p>
<p>Utkarsh Singh, BatX Energies CEO and Co-Founder, said the company aims to reduce import dependency and create a circular economy for critical materials by recycling old batteries.</p>
<p>BatX said it also aims to address the challenge of sourcing critical battery materials from outside China.</p>
<p>In December 2023, BatX <a href="https://www.mercomindia.com/battery-recycling-batx-secures-5-million-fund-expansion" target="_blank" rel="noopener">secured</a> $5 million in pre-series A Funding. The funds were utilized for market expansion and scaling of the company’s recycling operations across India. Zephyr Peacock led the funding along with Lets Venture and existing investors JITO Angel Network and Family offices of Mankind Pharma, Excel Industries, BluSmart, etc.</p>
<p>In June 2022, BatX <a href="https://www.mercomindia.com/batx-energies-raises-1-6-million" target="_blank" rel="noopener">raised</a> $1.6 million in a seed funding round led by JITO Angel Network. The round saw participation from existing investors such as Rohit Chanana of Sarcha Advisors and Anmol Jaggi from BluSmart Electric. Mankind Pharma’s Kamaljyot Investments and Haldiram’s Family Offices also participated in this round.</p>


BatX Energies Launches Lithium-Ion Recycling Facility in Uttar Pradesh


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					</table><p><strong><a href="https://www.mercomindia.com/mperc-rejects-grid-support-charges" target="_blank" rel="noopener">Madhya Pradesh Electricity Regulatory Commission has rejected a petition filed by Madhya Pradesh Power Management Company and state power distribution companies (DISCOMs) seeking levy of grid support charges on all categories of consumers with grid-connected rooftop</a></strong> solar system under net-metering and base load reduction (Category III). They had also sought the introduction of net billing or net feed-in arrangement for consumers having contract demand/ sanctioned load up to 500 kW.</p>
<p><strong><a href="https://www.mercomindia.com/ev-financing-platform-finayo-expand-its-saas-offerings" target="_blank" rel="noopener">Gurugram-based Electric Vehicle (EV) financing and asset management company Finayo has secured funding of ₹160 Million (~$1.9 million) from F Mec International Financial Services, Choice Finserv</a></strong> (CFPL) and other angel investors, and high net worth individuals. The funds will be utilized to invest in cutting-edge technologies, expand Finayo’s footprint across India, and accelerate the establishment of an inclusive EV financing network.</p>
<p><a href="https://www.mercomindia.com/cop28-milder-transitioning-fossil-fuels" target="_blank" rel="noopener"><strong>World leaders settled for a weaker text that spoke of ‘transitioning away’ from fossil fuels instead of a more definitive ‘phase-out’ at the COP28 climate summit in Dubai</strong>.</a> After lengthy deliberations that went beyond the scheduled close of the two-week event, the declaration called on nations to contribute to ‘transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner, accelerating action in this critical decade, to achieve net zero by 2050.’</p>
<p><a href="https://www.mercomindia.com/battery-recycling-batx-secures-5-million-fund-expansion" target="_blank" rel="noopener"><strong>BatX Energies, an India-based sustainable and circular Lithium-ion battery recycling company, has raised $5 million in pre-series A Funding.</strong></a> The funds will be utilized for market expansion and scaling of the company’s recycling operations all over India. Zephyr Peacock led the funding along with Lets Venture and existing investors JITO Angel Network and Family offices of Mankind Pharma, Excel Industries, BluSmart, etc.</p>
<p><a href="https://www.mercomindia.com/new-app-to-consumers-consumption-with-renewables" target="_blank" rel="noopener"><strong>The Fraunhofer Institute for Solar Energy Systems (ISE) has developed an app that displays the current share of renewables in the net public electricity generation for 12 European countries</strong>.</a> It can also show the day-ahead electricity price for 34 European countries, allowing consumers to adjust their electricity consumption with the renewable share accordingly. The app, PowerSignal, uses a ‘traffic light’ that varies its color based on the relationship between the current renewable share and the average over the last five years for the respective month.</p>


Daily News Wrap-Up: MPERC Rejects Plea for Imposing Grid Support Charges on Rooftop Solar

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