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="http://mercomindia.com/wp-content/uploads/2022/12/amazon_polly_46875.mp3?version=1672223282">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>U.S.-based independent developer, owner, and operator of commercial-scale solar projects, <a href="https://www.altuspower.com/" target="_blank" rel="noopener">Altus Power</a>, entered a definitive agreement to acquire about 220 MW of solar assets for ~$293 million from the funds managed by <a href="https://truegreencapital.com/" target="_blank" rel="noopener">True Green Capital Management</a>.</p>
<p>The transaction to acquire the solar assets under construction is expected to close during the first quarter of 2023.</p>
<p>The solar assets will help Altus Power scale its renewables portfolio in its major existing markets, including California, Colorado, Illinois, Massachusetts, New Jersey, and New York.</p>
<p>Additionally, the solar power developer will enter the Delaware and South Carolina clean energy markets with the acquisition.</p>
<p>Altus said it aims to fund the transaction with its long-term funding facility led by the U.S.-based investment management firm <a href="https://www.blackstone.com/" target="_blank" rel="noopener">Blackstone Structured Finance</a> and with cash in hand.</p>
<p>Initially, the transaction will add approximately 207 MW of commercial scale-solar assets to Altus&#8217; operations, with the remaining 13 MW to be added in the final stages of the construction.</p>
<p>The company aims to use solar assets to offer additional electrification solutions, including battery storage and electric vehicle or fleet charging stations.</p>
<p>Co-CEO of Altus Power Gregg Felton said, &#8220;True Green Capital has a long history of successfully investing in commercial-scale solar with underwriting standards consistent with our own. Altus Power&#8217;s strengths in asset on-boarding and long-term customer servicing combined with our scalable funding architecture create a natural partnership.&#8221;</p>
<p>Managing Partner and Co-Founder of True Green Capital Panos Ninios commented, &#8220;Altus Power&#8217;s capacity to execute with efficiency and focus on building long-term relationships has made them an extremely valuable partner in both of our transactions. They share our founding belief that commercial-scale distributed solar generation is the most attractive segment of our industry. Our collaboration has facilitated TGC&#8217;s successful forays into new solar markets.&#8221;</p>
<p>Earlier this year, Altus Power announced the signing of definitive agreements to <a href="https://mercomindia.com/project-finance-brief-lightsource-bp-closes-financing-for-a-210-mw-solar-project/" target="_blank" rel="noopener">acquire</a> around 97 MW of operating solar assets from undisclosed sellers for $220 million through a combination of cash and assumed liabilities.</p>
<p>Last October, the company <a href="https://mercomindia.com/project-finance-brief-altus-power-sale-leaseback-solar-funding/" target="_blank" rel="noopener">completed</a> a sale-leaseback tax equity financing amounting to $42 million for several unspecified solar projects in Minnesota and Massachusetts.</p>


Altus Power to Acquire 220 MW of Solar Assets for $293 Million in US


					<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/2022/07/amazon_polly_37558.mp3?version=1657191076">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The Indian Energy Exchange (<a href="https://www.iexindia.com/" target="_blank" rel="noopener">IEX</a>) traded 536 million units (MU) of renewable energy in June 2022, a 16.5% decrease month-over-month (MoM) compared to 642 MU <a href="https://mercomindia.com/renewable-energy-trading-up-by-91-mom-at-iex-in-may-2022/" target="_blank" rel="noopener">traded</a> in the previous month.</p>
<p>The exchange traded 8,267 MU of energy during the month. The traded energy comprised 7,058 MU in the conventional power market, 536 MU in the green power market, and 673 MU in the renewable energy certificate (REC) market, registering 17% YoY growth across all segments.</p>
<p><strong>Green Market: Day-Ahead and Term-Ahead </strong></p>
<p>The Green Market comprising the Green Day-Ahead Market (GDAM) and Green Term-Ahead Market (GTAM) traded 536 MU volume during the month, registering a YoY growth of 30%.</p>
<p>The GDAM traded 362 MU with a weighted average price of ₹5.94 (~$0.075)/kWh. In all, 148 entities participated in the process. The highest number of participants in a single day was 110 on June 23, 2022.</p>
<p>GTAM traded 173 MU volume during the month and saw participation from 24 entities. The average monthly price for solar was ₹3.83 (~$0.048)/kWh, while the average monthly price for non-solar was ₹8.13 (~$0.103)/kWh, and the average monthly price for hydro was ₹6.75 (~$0.085)/kWh.</p>
<p>Distribution utilities from Haryana, Telangana, Karnataka, Uttar Pradesh, and several industrial entities participated in the trading process in June.</p>
<p><strong>Electricity Market: Day-Ahead, Term-Ahead, and Real-Time Market</strong></p>
<p>In June 2022, the Day-Ahead Market (DAM) traded 4.085 BU of energy, registering a decline of 5% YoY and a growth of 29% MoM during June. The average market clearing price in June was ₹6.49 (~$0.082)/kWh.</p>
<p>The Term-Ahead Market (TAM) comprising intra-day, contingency, daily, and weekly contracts traded 759 MU, registering 18% YoY growth.</p>
<p>The Real-Time Electricity Market traded 2.214 BU, registering a growth of 28% YoY. The highest single-day volume of 96.43 MU was on June 14, 2022.</p>
<p><strong>Renewable Energy Certificate Market </strong></p>
<p><strong> </strong>June saw a total of 673,000 RECs cleared, registering a growth of 145% MoM. The volume comprised 459,000 non-solar RECs with a clearing price of ₹1,000 (~$12.67) per REC and 214,000 solar RECs with a clearing price of ₹1,500 (~$19.03). The next REC trading session is scheduled for July 27, 2022.</p>
<p><strong> </strong>Recently, the Central Electricity Regulatory Commission <a href="https://mercomindia.com/cerc-approves-forward-contracts-indian-energy-exchange/" target="_blank" rel="noopener">approved</a> the introduction of additional Term-Ahead and Green Term-Ahead contracts beyond T+11 days (T indicating zero-day of trading) on power exchanges. Earlier, exchanges were allowed to sell contracts for up to 11 days. With the introduction of longer-duration contracts, they will now be able to facilitate trade contracts comprising daily, weekly, and monthly contracts for up to three months.</p>
<p>Earlier, CERC <a href="https://mercomindia.com/cerc-regulations-boost-renewable-energy-certificates-trading/" target="_blank" rel="noopener">issued</a> ‘Terms and Conditions for RECs for Renewable Energy Generation Regulations, 2022.’ According to these regulations, renewable energy generating stations, captive generating stations based on renewable energy sources, distribution licensees, and open access consumers are now eligible to issue RECs.</p>


Renewable Energy Trading on IEX Declines by 16.5% MoM in June

<p>Mercom India Research, the research arm of Mercom India has released a whitepaper ‘India Solar Market – An Overview,’ in partnership with the Renewable Energy India Expo and Conference. The conference will be in Greater Noida from September 18 to 20, 2018.</p>
<p>The complimentary whitepaper provides an in-depth look at the market drivers and challenges facing the Indian solar market.</p>
<p><a href="https://mercomindia.com/rei-expo-2019-whitepaper-download-form/" target="_blank" rel="noopener noreferrer"><strong>Click here</strong></a> to download the complete whitepaper.<a href="https://mercomindia.com/rei-expo-2019-whitepaper-download-form/"><img loading="lazy" decoding="async" class="aligncenter wp-image-15546 size-full" src="https://mercomindia.com/wp-content/uploads/2019/09/India-Solar-Market.png" alt="India Solar Market" width="882" height="491" /></a><a href="https://mercomindia.com/india-solar-capacity-q2-2019-1-5-gw/">Recently</a>, Mercom India Research released its <a href="https://mercomindia.com/product/q2-2019-india-solar-market-update/" target="_blank" rel="noopener noreferrer">Q2 2019 India Solar Market Update</a>, a report that covers the state of the Indian solar market in detail.  According to the report, cumulative large-scale solar installations reached 31.5 GW by the end of Q2 2019 with large-scale solar projects accounting for 88% and rooftop solar making up the remaining 12%.</p>
<p>Mercom India Research forecasts India to install over 8 GW of solar capacity in the calendar year 2019. The report estimates solar installations in India to reach 70 GW by the end of 2022 based on current market dynamics.</p>
<p>“It has been a rough couple of quarters for the Indian solar market, exacerbated by tough lending conditions. Post elections, we expect the second half of the year to be slightly better, but liquidity issues need to be resolved for the market to recapture momentum,” commented Raj Prabhu, CEO, and co-founder of Mercom Capital Group.</p>
<p>Renewable energy capacity additions continue to increase at a significant pace in India, accounting for approximately 35.4% of India’s power capacity mix cumulatively. Solar accounted for 41% of the new power capacity added in 1H 2019.</p>
<p><a href="https://mercomindia.com/wp-content/uploads/2019/09/India-Solar.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-15548" src="https://mercomindia.com/wp-content/uploads/2019/09/India-Solar.png" alt="India Solar" width="1024" height="512" srcset="https://cms.mercomindia.com/wp-content/uploads/2019/09/India-Solar.png 1024w, https://cms.mercomindia.com/wp-content/uploads/2019/09/India-Solar-300x150.png 300w, https://cms.mercomindia.com/wp-content/uploads/2019/09/India-Solar-768x384.png 768w, https://cms.mercomindia.com/wp-content/uploads/2019/09/India-Solar-650x325.png 650w, https://cms.mercomindia.com/wp-content/uploads/2019/09/India-Solar-624x312.png 624w, https://cms.mercomindia.com/wp-content/uploads/2019/09/India-Solar-600x300.png 600w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></p>
<p><em>Visit Mercom India team in REI at Hall 10 Booth 402, and also attend the session powered by Mercom India along with key industry executives on 19<sup>th</sup> September 2019 at 4.00 PM to 5.30 PM.</em></p>


Mercom India Research Releases White Paper on Indian Solar Market at REI Expo

<p>India was the second largest solar market in the world surpassing the United States in terms of solar capacity addition in the first half (1H) of 2018. While China added 24.3 GW of solar PV capacity in 1H of 2018, India added 4.9 GW in 1H 2018 and the United States added 4.7 GW of solar PV capacity.</p>
<p>The United States installed more capacity than India in the second quarter of 2018 with 2,273 MW in comparison to India’s 1,599 MW. This was a reversal compared to the <a href="https://mercomindia.com/india-3gw-solar-supasses-united-states-q1-2018/" target="_blank" rel="noopener">first quarter</a> of 2018, in which India installed <a href="https://mercomindia.com/solar-installations-india-q1-2018/" target="_blank" rel="noopener">over 3 GW</a> in the quarter. In Q1, the United States installed 2,427 MW compared to India’s 3,344 MW, according to Mercom India Research.</p>
<p><a href="https://mercomindia.com/wp-content/uploads/2018/10/top3.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-11447" src="https://mercomindia.com/wp-content/uploads/2018/10/top3.png" alt="India Was the Second Largest Solar Market in First Half of 2018" width="517" height="304" srcset="https://cms.mercomindia.com/wp-content/uploads/2018/10/top3.png 517w, https://cms.mercomindia.com/wp-content/uploads/2018/10/top3-300x176.png 300w" sizes="(max-width: 517px) 100vw, 517px" /></a></p>
<p>The top three solar markets in the world – China, India, and the United States together installed a combined 33.9 GW. In Q1 2018, the three top solar markets accounted for 15.4 GW of solar PV capacity.</p>
<p>According to a recent <a href="https://www.seia.org/research-resources/solar-market-insight-report-2018-q3" target="_blank" rel="noopener">report</a> released by Solar Energy Industries Association (SEIA), the United States installed 2.3 GW of solar PV, a 9 percent year-over-year (YoY) decrease and a 7 percent quarter-over-quarter (QoQ) decrease.</p>
<p>However, this trend is unlikely to continue as the project development pipeline in India is relatively weak going into the second half of the year as safeguard duty, module prices and policy uncertainties are expected to take a toll on installations.</p>
<p>&nbsp;</p>


markets

Get the most relevant India solar and clean energy news.

RECENT POSTS