FTC Solar Misses Expectations Despite a 75% YoY Rise in Revenue in Q2

Everest Industries to Offtake Power from Enerparc’s 15 MW Solar Project

SCC Infrastructure Wins SECI’s 70,000 TPA Green Ammonia Auction

First Solar’s Revenue Up 8.6% YoY in Q2 2025 on Higher Module Sales

MNRE Issues Guidelines for Green Hydrogen Use in Residential Sector

HERC Approves ₹1.21/kWh Additional Surcharge on Open Access Consumers

Strong Demand Drives Shoals Technologies’ Q2 Revenue Up 11.7%

IEX Green Energy Market Rises 4% YoY in July

MNRE Extends BIS Compliance Deadline for Over 200 kW Solar Inverters

Indianoil Petronas Floats Maintenance Tender for 3.4 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="https://cms.mercomindia.com/wp-content/uploads/2025/08/amazon_polly_82846.mp3?version=1754545635">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>In the second quarter (Q2) of 2025, P25 solar prices, which are the 25th percentile of offered prices in power purchase agreements (PPAs), increased by 1% for North America, according to <a href="https://www.leveltenenergy.com/" target="_blank" rel="noopener">LevelTen Energy</a>’s Market-Averaged Continental Index report.
This increase follows another modest growth in the previous quarter. LevelTen said this rise is surprising in an environment of considerable policy uncertainty.
While solar prices may appear unaffected, the pricing impacts of tariffs, tax credit shifts, and other factors are being incorporated through means other than direct price hikes.
The report stated that tariff and tax credit volatility makes it considerably difficult to fold in specific price impacts for PPA offers. An increasing number of PPA counterparties are choosing contractual mechanisms allowing future adjustments to prices and other terms.
LevelTen expects Q3’s dataset to help clear the impact of U.S. President Donald Trump’s spending bill.
Europe PPA Prices Down
P25 prices in Europe reduced by over 5% in Q2 2025 according to the report. This decline follows three quarters of stable trends, and it indicates that the considerable rise of recent years has levelled off. The levelling will offer PPA buyers enhanced clarity and improved conditions for decision making.
While further declines can be expected, the market currently offers a meaningful opportunity to secure long-term value without the urgency or volatility of the previous years.
A majority of European solar markets experienced declining pricing trends for solar PPAs. Italy, Romania, and Poland witnessed considerable reductions, partially due to an energy oversupply. Other markets with high offer volume, such as Spain and Germany, are seeing PPA prices reduce further since some developers in these countries are seeking customers for their pure-play solar assets. The developers are making this decision amid a wider market shift to hybridized development pipelines that leverage the storage systems’ synergistic performance benefits.
Wind Power
The P25 wind prices rose 11% during Q2 2025 in North America. Midcontinent Independent System Operator (MISO) wind prices increased significantly, quarter-over-quarter. This growth contributed the most to the rising continental pricing trend. However, prices in all North American wind markets, barring one, increased during this quarter.
The quarterly price growth was driven by a decline in the total offer volume and the long-term nature of wind development. Wind projects enter the market comparatively slower. In case of unfavorable market conditions or high regulatory uncertainty, developers often halt their marketing efforts till the situation improves.
In MISO, price sensitivity to shifts in individual projects increased due to limited offer activity.
The report stated that an increasing number of wind PPAs may remain on the back burner as developers continue to face issues such as permitting delays, interconnection hurdles, and policy volatility. This development would contribute to reduced liquidity and growing pressure on prices.
In contrast to North America, wind PPA prices across Europe reduced by 2%. According to LevelTen, despite a growing wind industry, the continent faces issues with land availability, permitting, and interconnection queues in many markets.
However, it stated that wind PPAs still provide attractive opportunities for consumers, particularly tech companies and data centers with significant clean energy requirements in non-sunny hours. Wind energy’s production profile makes it attractive for consumers as part of a broader procurement strategy.
In Q2 2025, the Greek wind market posted a P25 price to the LevelTen Price Index for the first time in two years. LevelTen stated that this posting indicates wind contracts are becoming increasingly available for offtakers that are active in the solar-heavy market.
Policy Uncertainty
Trump’s spending and tax bill, which was passed into law on July 4, 2025, repeals or substantially dilutes the 45Y and 48E tax credits for utility-scale wind and solar facilities under the Inflation Reduction Act.
The U.S. President <a title="https://www.mercomindia.com/trump-orders-treasury-to-restrict-wind-and-solar-energy-tax-credits" href="https://www.mercomindia.com/trump-orders-treasury-to-restrict-wind-and-solar-energy-tax-credits" target="_blank" rel="noreferrer noopener">signed</a> an executive order directing the Secretary of the Treasury to terminate the clean electricity production and investment tax credits for wind and solar facilities and implement the enhanced foreign entity of concern restrictions identified in the ‘One Big Beautiful Bill’ Act.
In Europe, the new president of Poland, Karol Nawrocki, has previously criticized EU climate policies and supported coal. LevelTen expects a possible slowdown in the country’s climate progress under this regime.
Rising Electricity Demand
According to the report, tariffs, tax credit uncertainty, and other challenges do not affect the quickly rising U.S. power demand.
The growing number of data centers and rising heat waves are already testing the country’s power grid and load-serving entities, large players in the technology segment and corporate buyers have an increasing and near-term power requirement.
LevelTen cited Lazard’s Levelized Cost of Energy+ report, which states that wind and solar energy remain “the lowest-cost and quickest-to-deploy generation resource” even without the tax credits. In contrast, new gas generation costs are at a 10-year high.
Buyers in Europe are facing a new challenge, PPA prices that keep reducing, considering the value-eroding effects of cannibalization and other market concerns. Hybrid PPAs utilizing battery energy storage systems are attracting increasing interest in this environment, due to their capability to provide considerable performance benefits and support project financials.
According to the International Renewable Energy Agency’s report, global renewable energy capacity additions <a href="https://www.mercomindia.com/92-5-of-new-power-capacity-additions-globally-in-2024-was-renewables-report" target="_blank" rel="noopener">totaled</a> 585 GW in 2024, a record 15.1% growth year-over-year, the highest annual increase since 2000. Renewable energy represented 92.5% of the new power capacity additions globally.

Solar PPA Prices Stagnate in North America, Drop 5% in Europe: LevelTen

<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/2024/04/amazon_polly_65599.mp3?version=1714109293">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><a href="https://www.mercomindia.com/rumsl-i170-mw-solar-project-neemuch/" target="_blank" rel="noopener">Rewa Ultra Mega Solar (RUMSL) has issued a request for proposal to develop a 170 MW grid-connected ground-mounted solar photovoltaic project in the Neemuch Solar Park</a> in Madhya Pradesh. The power generated from the project will be procured by Madhya Pradesh Power Management Company and West Central Railway. The last date to submit bids is June 07, 2024. Bids will be opened on the same day. RUMSL / Government of Madhya Pradesh will provide land for the project’s development on the terms and conditions specified in the relevant land use agreement.
<a href="https://www.mercomindia.com/cerc-grants-citing-force-majeure-events/" target="_blank" rel="noopener">The Central Electricity Regulatory Commission relaxed rules, allowing ACME Solar to switch the connectivity of its 300 MW solar power project to the land route</a>, considering their substantial progress and commitment to the project. The Commission also noted that failure to achieve financial closure or compliance with the order would revoke connectivity if the 10% equity release is not attained. ACME Solar Holdings and ACME Sikar Solar submitted a petition under Section 79 of the Electricity Act, 2003. Central Transmission Utility of India was the respondent in the case.
<a href="https://www.mercomindia.com/hitachi-energy-1-5-billion-transformer-facility/" target="_blank" rel="noopener">Hitachi Energy will ramp up its global manufacturing capacity for transformers with a $1.5 billion investment by 2027, as a long queue for grid interconnections</a>, particularly from renewables, is driving up demand. The investment, which comes in addition to a 2020 announcement of a $3 billion injection in manufacturing capacity, will span across Europe, the Americas, and Asia, the company said in a press release. Transformers are a key component for integrating renewables into the grid as they help regulate voltage and ensure grid stability.
<a href="https://www.mercomindia.com/us-aims-to-slash-grid-interconnection-months-by-2030/" target="_blank" rel="noopener">The U.S. Department of Energy has introduced a comprehensive roadmap to expedite the integration of clean energy sources into the national transmission grid.</a> The Transmission Interconnection Roadmap outlines solutions for aligning interconnection processes with the increasing demand for renewable energy resources, which is driven by the rapid and widespread transition to clean energy. The Interconnection Innovation e-Xchange roadmap, released in April 2024, offers a range of solutions to diverse interconnection stakeholders, addressing both short-term and long-term challenges in the transmission system interconnection process.
<a href="https://www.mercomindia.com/us-solar-ppa-prices-europe-sees-drop-of-5/" target="_blank" rel="noopener">Following years of fluctuation in the energy market, power purchase agreement prices in North America were stable during the first quarter of 2024.</a> P25 solar and wind PPA offer prices increased less than 1% during the quarter, according to a recent report from LevelTen Energy. Specifically, P25 solar PPA prices experienced a modest decline of 1.5% over the quarter, while P25 wind prices saw a slight increase of 2.4% LevelTen’s P25 Price Index represents the 25th percentile PPA prices. All PPA price data in LevelTen’s report are based on the prices developers offer for PPA contracts, not the transacted PPA prices.

Daily News Wrap-Up: RUMSL Invites Bids to Develop 170 MW Solar Project

U.S.-based renewable transaction infrastructure provider, <a href="https://www.leveltenenergy.com/" target="_blank" rel="noopener">LevelTen Energy</a>, announced that it raised $35 million in Series C funding led by <a href="http://www.ngpetp.com/" target="_blank" rel="noopener">NGP ETP</a>. The company has raised a total of $62.3 million through funding to date.
The company facilitates transactions for renewable energy buyers, sellers, advisors, and financers by delivering the marketplaces, software, standards, and analytics necessary for efficient execution.
<a href="https://www.myclimatejourney.co/mcj-collective" target="_blank" rel="noopener">My Climate Journey Collective</a> and the company’s existing investors, including <a href="https://www.myavista.com/" target="_blank" rel="noopener">Avista Development</a>, <a href="https://www.constellation.com/" target="_blank" rel="noopener">Constellation Technology Venture</a>, <a href="https://www.equinor.com/" target="_blank" rel="noopener">Equinor Ventures</a>, <a href="https://www.founderscoop.com/" target="_blank" rel="noopener">Founders’ Co-op</a>, <a href="https://www.preludeventures.com/" target="_blank" rel="noopener">Prelude Ventures</a>, <a href="https://www.techstars.com/" target="_blank" rel="noopener">Techstars</a>, <a href="https://ventures.totalenergies.com/en" target="_blank" rel="noopener">Total Energies Ventures</a>, and <a href="https://www.wireframevc.com/" target="_blank" rel="noopener">Wireframe Ventures</a> – also participated in the funding round.
<a href="https://about.google/" target="_blank" rel="noopener">Google</a> had also participated in the funding round as part of its initiative to support innovative solutions that enable businesses, including <a href="https://cloud.google.com/" target="_blank" rel="noopener">Google Cloud</a> consumers, to source 24*7 carbon-free energy.
The company will use the funding to scale its existing renewable energy transaction platform that comprises energy marketplace, asset marketplace, and performance monitoring software.
Apart from this, the funding will be used to develop additional software solutions to enhance clean energy transition, energy transition, real-time load matching technology, project developer services, environmental and social justice scoring systems, and advanced power purchase agreement (PPA) products.
According to LevelTen Energy, its partner network includes over 25 energy advisors and retail electricity providers. The company claims to have the world’s largest online hub for utility-scale renewable energy deals, connecting a range of energy advisors and experienced buyers with more than 500 project developers, owners, and financiers.
LevelTen Energy Marketplace also boasts of delivering access to the world’s largest collection of PPAs, with more than 4,000 offers from 1,300 projects spanning 21 countries in North America and Europe. The platform has facilitated over $5 billion in renewable energy transactions coupled with 3.3 GW of renewable energy deals.
Bryce Smith, chief executive officer (CEO) of LevenTen Energy, said, “In 2018, LevelTen improved the power purchase agreement process with the launch of the LevelTen Energy Marketplace. In 2021, we released LevelTen Asset Marketplace, simplifying the process of buying and selling the projects.”
“LevelTen will advance the industry again with the launch of even more transaction infrastructure products and services vital to accelerating the energy transition, with this new funding. Renewable transactions will become as customary and as efficient as fossil fuel transactions,” Smith added.

Renewable Market Platform LevelTen Energy Raises $35 Million in Series C Funding

levelten-energy

Get the most relevant India solar and clean energy news.

RECENT POSTS