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					</table><p><span style="font-weight: normal !msorm;"><strong><a href="https://www.mercomindia.com/solar-decade-high-funding-2023" target="_blank" rel="noopener">Global corporate funding in the solar sector in 2023, including venture capital investments, public market funding, and debt financing, reached $34.3 billion, a 42% year-over-year increase from $24.1 billion.</a></strong></span> This was the largest amount raised in over a decade. While the total funding rose, the number of deals dropped 8.5% from 175 to 160.</p>
<p><span style="font-weight: normal !msorm;"><strong><a href="https://www.mercomindia.com/private-discoms-top-ratings-for-fy-2022-23" target="_blank" rel="noopener">Only four distribution companies (DISCOMs) out of 62 scored an A+ rating in an assessment of consumer service performance conducted by the Ministry of Power and REC Limited for the financial year 2022-23.</a></strong></span> The third edition of the Consumer Service Rating of Distribution Companies assessed ten private and 52 state-owned DISCOMs serving over 320 million customers.</p>
<p><span style="font-weight: normal !msorm;"><strong><a href="https://www.mercomindia.com/nvvn-tender-2-3-mw-rooftop-solar" target="_blank" rel="noopener">NTPC Vidyut Vyapar Nigam, a wholly owned subsidiary of NTPC, has invited bids from enlisted developers to set up 2,300 kW of grid-connected rooftop solar power projects across various buildings of public sector undertakings under the Department of Defence Production across northern India.</a></strong></span> The last date to submit the bids is February 1, 2024. Bids will be opened on February 2. The projects are to be installed across seven locations across Panchkula in Haryana, Ghaziabad, Kanpur, Korwa, and Shahjahanpur in Uttar Pradesh.</p>
<p><span style="font-weight: normal !msorm;"><strong><a href="https://www.mercomindia.com/ireda-q3-profit-surges-67" target="_blank" rel="noopener">The government-owned lender Indian Renewable Energy Development Agency has reported a 67% year-over-year increase in profit after tax for the third quarter (Q3) of the financial year (FY) 2023-24 to ₹3.36 billion (~$40.42 million) from  ₹2.01 billion (~$24.18 million).</a></strong></span> The considerable profit growth was primarily driven by the consistent growth in the company’s loan book and a significant reduction in its net non-performing assets to 1.52% in Q3 from 2.03% in the same period last year, a 25% improvement.</p>
<p><span style="font-weight: normal !msorm;"><strong><a href="https://www.mercomindia.com/ntpc-tender-9-mw-solar" target="_blank" rel="noopener">NTPC Vidyut Vyapar Nigam has invited bids from enlisted developers to commission 9.98 MW of ground-mounted and rooftop solar power projects at multiple locations in the western region for the Department of Defence Production’s public sector undertakings.</a></strong></span> The projects will be split between 7.48 MW ground-mounted and 2.5 MW rooftop solar. The work must be completed within nine months of receiving the work order. The scope of work includes operation and maintenance activities for ten years.</p>
<p><span style="font-weight: normal !msorm;"><strong><a href="https://www.mercomindia.com/ntpc-invites-bids-solar-projects-in-gujarat" target="_blank" rel="noopener">NTPC Renewable Energy, a wholly owned subsidiary of NTPC, has invited bids for the supply of solar modules for the 1,200 MW Khavda solar project (North Block) in Gujarat.</a></strong></span> The scope of work includes manufacturing, supply, packing and forwarding, and transportation of open-category crystalline solar modules. The last date for the submission of bids is March 5, 2024. Bids will be opened the same day.</p>
<p><a href="https://www.mercomindia.com/solaredge-cuts-global-workforce" target="_blank" rel="noopener"><span style="font-weight: normal !msorm;"><strong>SolarEdge</strong></span><span style="font-weight: normal !msorm;"><strong>, an Israel-based solar inverter manufacturer, has announced a restructuring initiative to trim operating expenses and adapt its cost structure to current market conditions</strong></span>.</a> As part of this plan, around 16% of the company’s global workforce, totaling approximately 900 employees, will be affected. Approximately 500 of these job cuts will come from SolarEdge’s diverse manufacturing sites.</p>


Daily News Wrap-Up: Solar Corporate Funding Reaches $34.3 Billion in 2023


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					</table><p>NTPC Vidyut Vyapar Nigam (<a href="https://www.nvvn.co.in/" target="_blank" rel="noopener">NVVN</a>), a wholly owned subsidiary of <a href="https://www.ntpc.co.in/" target="_blank" rel="noopener">NTPC</a>, has invited bids from enlisted developers to set up 2,300 kW of grid-connected rooftop solar power projects across various buildings of public sector undertakings under the Department of Defence Production (<a href="https://www.ddpmod.gov.in/" target="_blank" rel="noopener">DDP</a>) across northern India.</p>
<p>The last date to submit the bids is February 1, 2024. Bids will be opened on February 2.</p>
<p>The projects are to be installed across seven locations across Panchkula in Haryana, Ghaziabad, Kanpur, Korwa, and Shahjahanpur in Uttar Pradesh.</p>
<p>The scope of the work entails design, engineering, testing, and all other relevant activities, including preliminary visual assessment of roof, water arrangements, electricity, security, and determining optimal capacity for setting up of systems.</p>
<p>The selected developer must also provide comprehensive Operation and Maintenance (O&amp;M) of the projects for a period of ten years from the date of commissioning.</p>
<p>The bidders must submit a bid security amount of ₹2 million (~$24,058).</p>
<p>The eligible bidders are also required to have an annual turnover of ₹10.58 million (~$1.2 million) or in equivalent foreign currency during the preceding three financial years.</p>
<p>Only local suppliers who fall under Class I and II are eligible to participate in this tender. The local content requirement to categorize a bidder as a ‘Class-I local supplier’ is a minimum of 50%, and for a ‘Class-II local supplier,’ the ‘local content’ requirement is a minimum of 20%.</p>
<p>NNVN intends to finance the project through domestic and its own funding resources.</p>
<p>The net worth of the bidders as of the last day of the preceding financial year should not be less than 100% of the bidder’s paid-up share capital.</p>
<p>The developer must maintain the minimum annual Capacity Utilization Factor of 16% measured at the delivery point for ten operational years.</p>
<p>The NTPC subsidiary also <a href="https://www.mercomindia.com/ntpc-tender-6-35-mw-rooftop-solar" target="_blank" rel="noopener">invited</a> bids for setting up 6.35 MW of grid-connected rooftop solar power projects across various PSU buildings in southern India.</p>
<p>Last June, the company also <a href="https://www.mercomindia.com/ntpc-6-mw-solar-projects-telangana" target="_blank" rel="noopener">invited</a> bids for 6 MW of grid-connected solar projects in Telangana at the Cement Corporation of India’s Tandur plant.</p>
<p>Subscribe to Mercom’s <a href="https://www.mercomindia.com/product/india-solar-tender-tracker" target="_blank" rel="noopener">India Solar Tender Tracker</a> for timely updates on all solar tenders issued by various agencies in India.</p>


NVVN Floats Tender for 2.3 MW Rooftop Solar Projects

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