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India Adds an Unprecedented 16 GW Solar Capacity in 9M 2024

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Maxeon Solar Modules Detained by US Customs Authority

Sungrow, TBEA, FIMER Dominate Solar Inverter Rankings in First Half of 2024

ReNew’s Revenue, Profit Up in Q2 FY25 as Commissioned Renewable Capacity Grows

MNRE Sets Terms for Real Estate Developers to Avail CFA Under PM Surya Ghar

ENGIE to Build 22 MW Solar Project for Saudi Cement Factory


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					</table><p><a href="https://www.tatapowersolar.com/" target="_blank" rel="noopener">Tata Power Solar</a>, <a href="https://www.jakson-green.com/" target="_blank" rel="noopener">Jakson Green</a>, <a href="https://www.ashokabuildcon.com/" target="_blank" rel="noopener">Ashoka Buildcon</a>, <a href="https://www.gensol.in/" target="_blank" rel="noopener">Gensol Engineering</a>, and <a href="https://insolare.com/" target="_blank" rel="noopener">InSolare Energy</a> emerged as the top utility-scale solar engineering, procurement, and construction (EPC) service providers in the first half (1H) of the calendar year (CY) 2024, according to Mercom’s recently released <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-1h-2024-market-shares-profiles" target="_blank" rel="noopener">India Solar Market Leaderboard 1H 2024</a>.</p>
<p>Tata Power Solar was the top EPC player with a market share of 32.7%, followed by Jakson Green and Ashoka Buildcon, with 32.1% and 6.5%, respectively. Gensol Engineering and InSolare Energy rounded off the top five with 6.2% and 5.1%.</p>
<p>The top five utility-scale solar EPC service providers accounted for 82.6% of the market share.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/11/Leading-Utility-Scale-Solar-EPC-Players-in-India-1H-2024-.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-72747 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/11/Leading-Utility-Scale-Solar-EPC-Players-in-India-1H-2024-.png" alt="Leading Utility-Scale Solar EPC Players in India 1H 2024" width="587" height="453" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/11/Leading-Utility-Scale-Solar-EPC-Players-in-India-1H-2024-.png 587w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/11/Leading-Utility-Scale-Solar-EPC-Players-in-India-1H-2024--300x232.png 300w" sizes="(max-width: 587px) 100vw, 587px" /></a></p>
<p>&nbsp;</p>
<p>Tata Power Solar’s cumulative large-scale installed solar capacity in EPC mode was 6.4 GW as of June 2024.</p>
<p>During the first half of 2024, Tata Power <a href="https://www.mercomindia.com/seci-commissions-120-mwh-bess-chhattisgarh" target="_blank" rel="noopener">commissioned</a> the country’s largest solar and Battery Energy Storage Systems (BESS) project. The project comprises 100 MW solar capacity and 40MW/120 MWh utility-scale BESS system at Rajnandgaon in Chhattisgarh.</p>
<p>Jakson Green’s cumulative installed solar capacity was 2.8 GW. Jakson Green commissioned 40 MW of solar power project in Ayodhya, Uttar Pradesh. The project was awarded by <a href="https://ngel.in/ngel-home" target="_blank" rel="noopener">NTPC Green Energy</a>.</p>
<p>Ashoka Buildcon entered the top ten list in 1H 2024 in third position by commissioning its first 150 MW solar project. The project was <a href="https://www.mercomindia.com/tata-ashoka-buildcon-ntpc-auction" target="_blank" rel="noopener">awarded</a> as a part of NTPC’s EPC auction for 1,070 MW of solar projects in December 2020.</p>
<p>Mercom’s India Solar Market Leaderboard report covers the market landscape across the entire supply chain. For the detailed and comprehensive report, <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-1h-2024-market-shares-profiles" target="_blank" rel="noopener">click here</a>.</p>
<p>The <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-share-tracker" target="_blank" rel="noopener">Market Share Tracker</a>, offering quarterly data insights on your competitors’ growth rates, is also available.</p>


Tata Power, Jakson, Ashoka Buildcon Top Solar EPC Companies in 1H 2024


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					</table><p><a href="https://www.mercomindia.com/india-2024-budget" target="_blank" rel="noopener"><strong>Union Finance Minister Nirmala Sitharaman, in the first Budget under a new coalition government</strong></a>, laid out a series of measures to promote clean energy adoption and develop critical mineral supply chains. She highlighted &#8216;Energy Security&#8217; as one of the nine pillars for Budget 2024. The allocation for the solar sector has surged by 75% from the previous year’s revised estimate, now set at ₹86.49 billion (~$1.03 billion). However, the wind energy sector allocation has decreased by 12.7% to ₹8 billion (~$95.6 million).</p>
<p><strong><a href="https://www.mercomindia.com/dvc-invites-bids-for-projects-in-west-bengal-jharkhand" target="_blank" rel="noopener">Damodar Valley Corporation (DVC) has invited bids for the design, engineering, supply, erection, and commissioning</a></strong> of 10 MW grid-connected rooftop solar power systems, including comprehensive operation and maintenance for five years in DVC-owned buildings in West Bengal and Jharkhand. The last date for submitting bids is July 31, 2024. Bids will be opened on August 1. The scope of the work should include the installation, testing, and commissioning of rooftop solar systems. The estimated project cost, earnest money deposit, and tender document cost will be announced later.</p>
<p><a href="https://www.mercomindia.com/jakson-green-credit-facility-first-abu-dhabi-bank" target="_blank" rel="noopener"><strong>Jakson Green, the renewable energy arm of the Jakson Group, has secured a ₹2.96 billion (~$35.36 million) credit facility from First Abu Dhabi Bank (Mumbai)</strong></a> to support its international expansion, starting with a solar photovoltaic and battery storage project in Uzbekistan. The project involves building and operating a 250 MW solar power facility combined with a 63 MW/126 MWh battery energy storage system in Bukhara. This credit facility marks a significant milestone for Jakson Green’s entry into Uzbekistan’s renewable energy market as the company continues to expand its presence in the Middle East, Africa, the Commonwealth of Independent States, and Europe.</p>
<p><a href="https://www.mercomindia.com/jsw-energy-q1-profit-surges" target="_blank" rel="noopener"><strong>Independent power producer JSW Energy reported an 80% year-on-year surge in net profit for the first quarter of fiscal year 2025</strong></a>, reaching ₹5.22 billion (~$63.3 million), helped by higher power generation across its portfolio and improved operational efficiencies. Total net generation for the quarter increased by 18% to 7,881 million units (MUs), compared to 6,699 MUs in the same period last year. This growth was powered by a 44% rise in renewable energy generation, which reached 3,242 MUs. The company’s thermal power generation also saw an uptick of 4%, contributing 4,638 MUs to the total output.</p>
<p><a href="https://www.mercomindia.com/suzlons-q1-2025-net-profit" target="_blank" rel="noopener"><strong>Wind turbine manufacturer Suzlon Energy recorded a net revenue of ₹20.16 billion (~$241.02 million) during the first quarter of 2025</strong></a>, a year-over-year (YoY) increase of 50% as compared to ₹13.48 billion (~$161.16 million). The company posted a net profit of ₹3.02 billion (~$36.1 million), a 200% YoY increase from ₹1.01 billion (~$12.07 million). Suzlon’s earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₹3.7 billion (~$44.23 million), a YoY increase of 86%, from ₹1.99 billion (~$23.79 million). This is Suzlon’s highest quarterly EBITDA in seven years.</p>
<p><a href="https://www.mercomindia.com/gcf-approves-215-6-million-for-sidbi" target="_blank" rel="noopener"><strong>The Green Climate Fund has approved $215.6 million for the Small Industries Development Bank of India’s</strong></a> Financing Mitigation and Adaptation Projects (FMAP) in Indian micro, small, and medium enterprises (MSMEs). The projects aim to help MSMEs adopt low-emission and climate-resilient technologies. They will also increase climate finance for MSMEs by using private sector investments from non-banking financial companies, small finance banks, and microfinance institutions. These investments will provide loans to MSMEs to adopt various mitigation and adaptation technologies. The FMAP program is projected to reduce 35.3 million tons of greenhouse gas emissions and significant water savings.</p>


Daily News Wrap-Up: Budget 2024 Promotes Clean Energy, Critical Mineral Chains


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					</table><p><a href="https://www.jakson.com/green-energy/" target="_blank" rel="noopener">Jakson Green</a>, the renewable energy arm of the Jakson Group, has secured a ₹2.96 billion (~$35.36 million) credit facility from <a href="https://www.bankfab.com/en-ae/personal" target="_blank" rel="noopener">First Abu Dhabi Bank</a> (Mumbai) to support its international expansion, starting with a solar photovoltaic and battery storage project in Uzbekistan. The project involves building and operating a 250 MW solar power facility combined with a 63 MW/126 MWh battery energy storage system in Bukhara.</p>
<p>This credit facility marks a significant milestone for Jakson Green&#8217;s entry into Uzbekistan&#8217;s renewable energy market as the company continues to expand its presence in the Middle East, Africa, the Commonwealth of Independent States, and Europe.</p>
<p>&#8220;The support extended by First Abu Dhabi Bank empowers us to engage with diverse markets and capitalize on opportunities for sustainable growth. This project in Uzbekistan exemplifies Jakson Green&#8217;s dedication to delivering excellence in utility-scale renewable energy projects, both domestically and internationally, and highlights our commitment to advancing clean energy solutions and fostering global partnerships in the renewable energy sector,&#8221; said Chandan Goswami, Chief Financial Officer of Jakson Green.</p>
<p>The energy and infrastructure conglomerate Jakson Group <a href="https://www.mercomindia.com/jakson-group-launches-new-venture-to-focus-on-green-hydrogen-and-energy-storage" target="_blank" rel="noopener">launched</a> Jakson Green in 2022. Its strategic focus is on green hydrogen, green ammonia, waste-to-energy solutions, electrolyzers, fuel cells, and large-scale battery energy storage systems. The venture also offers solar energy solutions and associated operation and maintenance services.</p>
<p>In May, Jakson Green <a href="https://www.mercomindia.com/jakson-green-sustainability-boost-from-hsbc/" target="_blank" rel="noopener">obtained</a> a sustainable trade facility of ₹600 million (~$7.1 million) from HSBC India. The trade facility was intended to help bolster the company&#8217;s operational needs within the renewable energy sector in India and overseas.</p>
<p>In January, Rail Vikas Nigam and Jakson Green <a href="https://www.mercomindia.com/rvnl-jakson-green-jv-execute-solar-epc-overseas" target="_blank" rel="noopener">announced</a> the formation of a joint venture to explore solar power project opportunities in India and abroad. Under the agreement, Jakson Green owns the majority 51% stake in the new company, and RVNL the remaining 49%.</p>


Jakson Green Secures ₹3 Billion Credit Facility from First Abu Dhabi Bank


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					</table><p><a href="https://www.mercomindia.com/gujarat-tariffs-khavda-solar-park" target="_blank" rel="noopener"><strong>The Gujarat Electricity Regulatory Commission has adopted the tariffs discovered under the competitive bidding process conducted by Gujarat Urja Vikas Nigam to procure</strong></a> 1,125 MW of solar power from projects to be established in the Gujarat State Electricity Corporation’s (GSECL) solar park at Khavda. The approved tariffs are as follows: Engie Energy at ₹2.62 ($0.031)/kWh for 200 MW, NHPC, JSW Neo Energy, and SJVN Green Energy at ₹2.66 ($0.032)/kWh for 200 MW, 300 MW, and 200 MW, respectively, and NTPC Renewable Energy at ₹2.67 (~$0.032)/kWh for 225 MW.</p>
<p><a href="https://www.mercomindia.com/compensation-guidelines-transmission-line" target="_blank" rel="noopener"><strong>The Ministry of Power has issued new guidelines addressing the payment of Right of Way (RoW) compensation for transmission lines, including those in urban areas.</strong></a> These guidelines aim to streamline transmission line construction and ensure timely completion by effectively addressing RoW issues. The compensation guidelines apply to transmission lines supported by tower bases with a voltage level of 66 kV and above, excluding sub-transmission and distribution lines below 66 kV.</p>
<p><a href="https://www.mercomindia.com/bihar-invites-bids-solar-cold-storage-units" target="_blank" rel="noopener"><strong>Bihar Renewable Energy Development Agency has invited bids for the design, supply, testing, installation, commissioning, and maintenance of 10 MT solar cold storage units in</strong></a> Bihar. The last date for submitting bids is July 8, 2024. Bids will be opened on the same day. Bidders will also be responsible for the operation and maintenance of the project for five years. Bidders must pay ₹5,000 (~$59.9) for the document fee and an earnest money deposit of ₹500,000 (~$5,996).</p>
<p><a href="https://www.mercomindia.com/jakson-green-awarded-ntpcs-flue-gas-co2-to-4g-ethanol-project" target="_blank" rel="noopener"><strong>Jakson Green has been awarded a flue gas CO2 to 4G ethanol project for a power project in Lara, Chhattisgarh, by NTPC. NTPC Energy Technology Research Alliance (NETRA), the research</strong></a> and development arm of NTPC, conceptualized and designed the project, which is expected to be ready for operation within two years. Jakson Green will be the licensing, engineering, procurement, and construction partner for the project.</p>
<p><a href="https://www.mercomindia.com/jammu-and-kashmir-invites-rooftop-solar-systems" target="_blank" rel="noopener"><strong>Jammu and Kashmir Energy Development Agency has invited bids for supplying, installing, and commissioning grid-connected rooftop solar power projects on government</strong></a> buildings in Jammu and Kashmir (J&amp;K). The scope of work includes comprehensive maintenance of the rooftop solar systems for five years. The tentative cumulative capacity of the project is 70 MW, which may increase or decrease by 25% depending on the demand and availability of funds.</p>


Daily News Wrap-Up: Gujarat Approves Tariffs for 1.1 GW Solar Projects


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					</table><p><a href="https://www.jakson-green.com/" target="_blank" rel="noopener">Jakson Green</a> has been awarded a flue gas CO<sub>2</sub> to 4G ethanol project for a power project in Lara, Chhattisgarh, by <a href="https://ntpc.co.in/index.php" target="_blank" rel="noopener">NTPC</a>.</p>
<p>NTPC Energy Technology Research Alliance (NETRA), the research and development arm of NTPC, conceptualized and designed the project, which is expected to be ready for operation within two years.</p>
<p>Jakson Green will be the licensing, engineering, procurement, and construction partner for the project.</p>
<p>The plant will produce 25 TPD of 4G ethanol from flue gases and generate 3 TPD of green hydrogen through a 7.5 MW electrolyzer.</p>
<p>The project will use advanced carbon capture technology to capture 25 tons per day (TPD) of CO<sub>2</sub> from flue gases, thereby reducing greenhouse gas emissions. The captured CO<sub>2</sub> and generated hydrogen are combined via advanced microbial fermentation technology, converting these inputs into 4G ethanol.</p>
<p>Kannan Krishnan, Joint Managing Director of Jakson Green, said, &#8220;We take immense pride in continuing our longstanding relationship with NTPC to establish the landmark project. This partnership builds upon the success of our numerous joint projects, further solidifying our commitment to revolutionizing the Power-to-X mission. Increasing the production of ethanol is crucial to achieving India’s blending goals, strengthening energy security, and fostering a cleaner future.&#8221;</p>
<p>Jakson Green has more than 500 TPA of green hydrogen and its derivatives production capacity under development across six projects. It has recently set up an electrolyzer  manufacturing unit, besides building and operating green hydrogen assets globally, in line with its vision of producing over 0.5 million TPA of green hydrogen/ammonia by 2030.</p>
<p>In 2021, NTPC had <a href="https://www.mercomindia.com/ntpc-bids-methanol-facilities" target="_blank" rel="noopener">invited</a> expressions of interest to set up methanol manufacturing facilities at its power projects across India.</p>
<p>In 2022, Jakson Green signed a memorandum of understanding with the Rajasthan government to invest about ₹224 billion (~$2.7 billion) to set up a green hydrogen and green ammonia project.</p>
<p>Early this year, Jakson Green and Rail Vikas Nigam <a href="https://www.mercomindia.com/rvnl-jakson-green-jv-execute-solar-epc-overseas" target="_blank" rel="noopener">announced</a> the formation of a joint venture to explore solar power project opportunities in India and abroad.</p>


Jakson Green Awarded NTPC’s Flue Gas CO2 to 4G Ethanol Project


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-apricus-acquires-controlling-stake-in-nexus/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Apricus Generation, a holding company designed to build a national distributed solar and battery development platform and independent power producer (IPP)</strong>, <strong><a href="https://mercomcapital.com/apricus-generation-acquires-controlling-stake-nexus-renewables/" target="_blank" rel="noopener">acquired</a></strong> a controlling stake in Nexus Renewables, a developer, owner, and operator of solar and energy storage projects under various stages of construction and development.</p>
<p><strong>Energy Park, an EV charging solution provider, <a href="https://mercomcapital.com/ev-charging-solution-provider-energy-park-funding/" target="_blank" rel="noopener">secured</a> an initial £35 million (~$45 million) investment from Zouk Capital</strong>, manager of the UK Government’s Charging Infrastructure Investment Fund. With this funding, the company is set to accelerate its plans to provide charging facilities to residential sites across the UK.</p>
<p><strong>Gireve, a France-based EV charging solutions provider, <a href="https://mercomcapital.com/ev-charging-firm-gireve-million-funding/" target="_blank" rel="noopener">raised</a> €20 Million (~$22 million) in a fresh funding round</strong> from the investor Partech through its impact fund. Existing shareholders like EDF Group, ENEDIS, the Banque des Territoires (Caisse des Dépôts), and Demeter also participated in this funding round. With this funding, the company plans to accelerate its platform expansion in Europe and internationally.</p>
<p><strong>Jakson Green, the renewable energy arm of the Jakson Group, has </strong><a href="https://www.mercomindia.com/jakson-green-sustainability-boost-from-hsbc" target="_blank" rel="noopener"><strong>obtained</strong></a><strong> a sustainable trade facility of ₹600 million (~$7.1 million) from HSBC India</strong>. The trade facility will help bolster the company’s operational needs within the renewable energy sector in India and overseas.</p>
<p><strong>Electric vehicle company Euler Motors has </strong><a href="https://www.mercomindia.com/ev-firm-euler-secures-series-c-funding-round" target="_blank" rel="noopener"><strong>closed</strong></a><strong> its Series C funding round, securing ₹2 billion (~$23.9 million) and taking the total funding raised so far to ₹5.7 million (~$68,358)</strong>. The round was led by internal investors such as British International Investment, Blume Venture, and new investor Piramal Alternatives India Access Fund. The newly acquired funds will be used to expand its nationwide presence and service infrastructure. By 2025, the company plans to operate in over 40 cities.</p>
<p><strong>Maxvolt Energy, a manufacturer of lithium battery packs, has </strong><a href="https://www.mercomindia.com/maxvolt-energy-secures-1-5-million" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $1.5 million from angel investors to introduce fast-charging lithium-ion batteries</strong> and build recycling plants. The company said that the capital injection will support Maxvolt’s research and development into lithium battery architectures for electric vehicles such as scooters and rickshaws, energy storage systems, and medical devices.</p>
<p><strong>Zypp Electric, an electric vehicle (EV)-as-a-service platform, has </strong><a href="https://www.mercomindia.com/zypp-bags-15-million-to-expand-ev-fleet-across-15-cities-in-india" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $15 million in its Series C funding round, allowing the company to expand its fleet from 21,000 to 200,000 e-scooters </strong>across 15 Indian cities by 2026. The funding round, led by Japanese major ENEOS, comprised $15 million in equity as part of its ongoing $50 million round, which includes $40 million in equity and $10 million in debt.</p>
<p><strong>Maxeon Solar Technologies, a Singapore-based solar solutions provider, has </strong><a href="https://mercomcapital.com/maxeon-solar-technologies-secures-debt-financing/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a $97.5 million debt financing from the company’s largest shareholder, TCL Zhonghuan Renewable Energy Technology</strong> (TZE). TZE also committed to an additional $100 million equity investment, in each case subject to regulatory approvals. The transaction will substantially dilute existing public shareholders, with TZE ultimately becoming a controlling shareholder. The funding infused will be used as capital to support the company’s operations.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-recurrent-energy-secures-1-4-billion" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Apricus Acquires Controlling Stake in Nexus


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					</table><p><a href="https://www.jakson.com/green-energy/" target="_blank" rel="noopener">Jakson Green</a>, the renewable energy arm of the Jakson Group, has obtained a sustainable trade facility of ₹600 million (~$7.1 million) from <a href="https://www.hsbc.co.in/" target="_blank" rel="noopener">HSBC India</a>.</p>
<p>The trade facility will help bolster the company&#8217;s operational needs within the renewable energy sector in India and overseas.</p>
<p>Jakson Green is broadening its global footprint across regions, including the Middle East, Africa, the Commonwealth of Independent States (CIS), and Europe.</p>
<p>Chandan Goswami, Chief Financial Officer of Jakson Green, said, &#8220;This partnership with HSBC India is a significant milestone for Jakson Green. It not only bolsters our renewable energy initiatives within India but also supports our global expansion.&#8221;</p>
<p>&#8220;Through this facility, we solidify our commitment to paving the way for a brighter, greener world for generations to come, with clean energy solutions at the forefront of our mission, Goswami added.</p>
<p>Ajay Sharma, Head of Commercial Banking, HSBC India, said, &#8220;We are committed to supporting and financing the clean energy transition in India. We are pleased to support Jakson Green in their journey to scale up their clean energy business, aligned with our strategic focus on working with our clients to support their sustainability goals.&#8221;</p>
<p>The energy and infrastructure conglomerate Jakson Group <a href="https://www.mercomindia.com/jakson-group-launches-new-venture-to-focus-on-green-hydrogen-and-energy-storage" target="_blank" rel="noopener">launched</a> Jakson Green in 2022. Its strategic focus is on green hydrogen, green ammonia, waste-to-energy solutions, electrolyzers, fuel cells, and large-scale battery energy storage systems.</p>
<p>The venture also offers solar energy solutions and associated operation and maintenance services.</p>
<p>In January, Rail Vikas Nigam (RVNL) and Jakson Green <a href="https://www.mercomindia.com/rvnl-jakson-green-jv-execute-solar-epc-overseas" target="_blank" rel="noopener">announced</a> the formation of a joint venture to explore solar power project opportunities in India and abroad. Under the agreement, Jakson Green owns the majority 51% stake in the new company, and RVNL has the remaining 49%.</p>
<p>The companies hope the partnership will bring synergy in designing, executing, and delivering EPC projects globally. The JV will cater to giga-scale EPC clean energy projects in the Middle East and North Africa, the CIS, and Asia Pacific.</p>


Jakson Green Secures ₹600 Million Sustainability Boost from HSBC


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					</table><p><a href="https://www.mercomindia.com/government-incentives-produce-green-ammonia" target="_blank" rel="noopener"><strong>The Ministry of New and Renewable Energy has laid down the incentive implementation framework for the production and supply of green ammonia</strong></a> at the lowest cost through a competitive selection process under Mode 2A of the Strategic Interventions for Green Hydrogen Transition program. Under the framework, direct incentives for green ammonia production and supply will be granted over three years from the commencement date.</p>
<p><a href="https://www.mercomindia.com/railways-1-1-mw-rooftop-solar-gujarat" target="_blank" rel="noopener"><strong>Vadodara Division of Western Railway in Gujarat has invited bids to install 1.151 MW of grid-connected rooftop solar power projects at its stations and other locations.</strong></a> The work should be completed within 12 months of receiving the work order. The advertised value of the project is estimated to be ₹57.71 million (~$694,211). The last day to submit the bids is February 12, 2024. Bids will be opened the same day. Bidders must submit an earnest money deposit of ₹438,600 (~$5,277).</p>
<p><a href="https://www.mercomindia.com/gensol-%e2%82%b91-39-billion-solar-epc-contract-sarda" target="_blank" rel="noopener"><strong>Engineering and consulting firm Gensol Engineering has secured an engineering, procurement, and construction contract for a 33 MWac (50 MWdc) captive solar power project</strong></a> from the steel and ferro alloys manufacturer Sarda Energy and Minerals to meet power requirements for its Kharora plant in Chhattisgarh. The project is expected to cost about ₹1.50 billion (~$18.06 million), according to Sarda Energy.</p>
<p><a href="https://www.mercomindia.com/rvnl-jakson-green-jv-execute-solar-epc-overseas" target="_blank" rel="noopener"><strong>Rail Vikas Nigam (RVNL) and Jakson Green, the renewable energy arm of the Jakson Group, have announced the formation of a joint venture (JV) to explore solar power project</strong></a> opportunities in India and abroad. Under the agreement, Jakson Green will own the majority 51% stake in the newly formed company and RVNL the remaining 49%. The company signed a memorandum of understanding in March 2023, indicating its intention to form the JV to execute clean energy engineering, procurement, and construction projects globally.</p>
<p><a href="https://www.mercomindia.com/oman-500-mw-ibri-iii-solar-project" target="_blank" rel="noopener"><strong>Nama Power and Water Procurement, Oman’s national power and water procurement company, has issued a request for qualification to develop the 500 MW Ibri III solar power</strong></a> project in partnership with the private sector. The cost of the tender document is OMR350 (~$909), which must be purchased by January 20, 2024. The last day to submit the bids is February 19, 2024. The proposed Ibri III solar project is planned to be constructed in Al Dhahirah Governorate.</p>


Daily News Wrap-Up: Government Announces Incentives for Green Ammonia Production


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					</table><p>Tata Power Solar, Jakson Green, and Voltas were the top utility-scale solar engineering, procurement, and construction (EPC) service providers in the first half (1H) of the calendar year (CY) 2022, according to Mercom’s recently released <a href="https://mercomindia.com/product/mercoms-india-solar-market-leaderboard-1h-2022-market-shares-and-profiles/" target="_blank" rel="noopener">India Solar Market Leaderboard 1H 2022</a>.</p>
<p>Addwatt Power Solutions and BHEL rounded off the top five.</p>
<p>The report reveals market share and shipment rankings across India’s solar supply chain.</p>
<p>The top 10 utility-scale solar EPC service providers accounted for almost 77% of the total market share.</p>
<p>Tata Power Solar topped with a market share of 24%, followed by Jakson Solar and Voltas with 10% and 9%, respectively.</p>
<p style="text-align: center;"><img loading="lazy" decoding="async" class="aligncenter wp-image-45102" src="https://mercomindia.com/wp-content/uploads/2022/11/Top-Utility-Scale-Leaderboard-1H2022.png" alt="Top Utility Scale Leaderboard 1H2022" width="600" height="452" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Top-Utility-Scale-Leaderboard-1H2022.png 626w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Top-Utility-Scale-Leaderboard-1H2022-300x226.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Top-Utility-Scale-Leaderboard-1H2022-624x470.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/11/Top-Utility-Scale-Leaderboard-1H2022-600x452.png 600w" sizes="(max-width: 600px) 100vw, 600px" /></p>
<p>In June this year, Tata Power Solar Systems <a href="https://mercomindia.com/tata-power-solar-commissions-solar-project-in-rajasthan/" target="_blank" rel="noopener">commissioned</a> a 450 MW solar project for Brookfield Renewable in Rajasthan. The EPC arm of Tata Power completed the project within seven months.</p>
<p>Tata Power Solar had previously <a href="https://mercomindia.com/tata-power-solar-wins-indias-largest-epc-contract/" target="_blank" rel="noopener">won</a> the largest EPC contract to develop a 1 GW solar project. The project, located in Bikaner, Rajasthan, will be developed at the cost of ₹54.91 billion (~$72.21 million).</p>
<p>Jakson won over 750 MW of operation and maintenance (O&amp;M) tenders during 1H 2022 for NTPC’s solar power projects in Rajasthan and Andhra Pradesh. Earlier, Jakson was <a href="https://mercomindia.com/jakson-wins-ntpcs-om-tender/" target="_blank" rel="noopener">declared</a> the winner in NTPC’s auction for the comprehensive operations and maintenance of the 260 MW solar project at the Bhadla Solar Park in Rajasthan.</p>
<p>In 1H 2022, Jakson commissioned 220 MW of utility-scale solar projects. The company extended EPC services to over 1.2 GW of projects as of June 2022.</p>
<p>Voltas has been providing EPC services since 2020. In the first year, the company executed nearly 425 MW of solar projects in India. In 1H 2022, the company provided EPC services for 205 MW of solar projects.</p>
<p>Sterling and Wilson remained the leader in terms of cumulative installations, with a portfolio of 3.73 GW.</p>
<p>Sterling and Wilson, Siemens Gamesa, and Tata Power Solar were the <a href="https://mercomindia.com/top-utility-scale-solar-epc-2021/" target="_blank" rel="noopener">top</a> utility-scale solar EPC service companies in 2021.</p>


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