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					</table><p>Goodluck India, Strolar Mounting Systems, Raydean Industries, Metalkraft, and MTE Structures were the <a href="https://www.mercomindia.com/solar-module-mounting-structure-market-leaders-in-2024" target="_blank" rel="noopener">top</a> five module mounting structure suppliers to the Indian solar market in 2024, according to Mercom’s India Solar Market Leaderboard 2025 report. Goodluck India led the solar module mounting structure shipments with a market share of 25.3%. Stolar Mounting Systems and Raydean Industries followed, accounting for 17% and 13.8% of the shipments in 2024, respectively. Metalkraft and MTE Structures rounded off the top five, comprising 13.7% and 12.1%, respectively.</p>
<p>The Multi Commodity Exchange of India (MCX) <a href="https://www.mercomindia.com/mcx-gets-sebi-nod-to-trade-electricity-derivatives" target="_blank" rel="noopener">secured</a> approval from the Securities and Exchange Board of India to introduce electricity derivatives. These financial instruments derive their value from electricity prices and are primarily used for hedging, speculation, or arbitrage. They enable power producers, distributors, and large consumers to manage risks associated with electricity price volatility. Instead of physical delivery, any gains or losses from price fluctuations are settled in cash, making the contracts purely financial. According to Praveena Rai, MD and CEO at MCX, the launch of electricity derivatives is a significant milestone for India’s commodities landscape.</p>
<p>Rajasthan Electronics and Instruments <a href="https://www.mercomindia.com/reil-issues-rate-contract-tender-for-1-mw-rooftop-solar-projects" target="_blank" rel="noopener">invited</a> bids for rate contracts to set up 1 MW rooftop solar power projects on multiple government buildings in Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, Telangana, Lakshadweep, and Puducherry. Bids must be submitted by June 28, 2025. Bids will be opened on June 29. The scope of work entails the design, engineering, manufacturing, transportation, erection, testing, and commissioning of the solar projects. It also includes providing transportation, unloading, and storage of the project components, as well as obtaining insurance.</p>
<p>At the recent RE Buyer Seller Meet in Pune, organized by Mercom India, experts <a href="https://www.mercomindia.com/reil-issues-rate-contract-tender-for-1-mw-rooftop-solar-projects" target="_blank" rel="noopener">discussed</a> various opportunities in the distributed and large-scale project segments. Yogesh Kudale, Chief Executive Officer of Taypro, and Chetan Amrutkar, AVP Sales and Marketing at Genx PV, discussed the various upcoming opportunities in the robotic cleaning and manufacturing of photovoltaic junction boxes, connectors, and cables. During the session, Kudale highlighted the potential for consumers to save six times more by opting for robotic cleaning compared to traditional cleaning for modules.</p>
<p>The Ministry of New and Renewable Energy (MNRE) <a href="https://www.mercomindia.com/reil-issues-rate-contract-tender-for-1-mw-rooftop-solar-projects" target="_blank" rel="noopener">updated</a> the Approved List of Models and Manufacturers (ALMM) by adding 2,988 MW of solar module manufacturing capacity. The cumulative module manufacturing capacity has now reached 90,959 MW, after the latest additions. Reliance Industries is the new entry in the list with a capacity of 1,716 MW. Avaada Electro increased its capacity by adding 1,272 MW. SASA Energy’s manufacturing capacity was revised from 100 MW to 98 MW, indicating a reduction of 2 MW in the list. The total number of module manufacturers has now increased to 105.</p>
<p>New Delhi-headquartered steel tubes and pipes manufacturing company Rama Steel Tubes <a href="https://www.mercomindia.com/reil-issues-rate-contract-tender-for-1-mw-rooftop-solar-projects" target="_blank" rel="noopener">forayed</a> into the renewable energy sector by participating as a joint venture partner in a 225 MW solar project under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyaan (PM-KUSUM) program. The project will be implemented by Onix Renewable’s special purpose vehicle (SPV), Onix IPP. The SPV signed power purchase agreements with the Maharashtra State Electricity Distribution Company at a tariff of ₹3.04 (0.035)/kWh for a 25-year term. Onix IPP’s annual gross revenue from this project is expected to be ₹1.08 billion (~$12.6 million). The total revenue for the full term is projected to be approximately ₹27.03 billion (~$315.12 million).</p>
<p>Power transmission and renewable energy company IndiGrid <a href="https://www.mercomindia.com/reil-issues-rate-contract-tender-for-1-mw-rooftop-solar-projects" target="_blank" rel="noopener">announced</a> that it will acquire ReNew Surya Aayan and Koppal–Narendra Transmission for a total enterprise value of ₹21.08 billion (~$246 million). IndiGrid will acquire 100% shareholding and management control of both ReNew companies. This acquisition will be funded through a combination of equity, internal accruals, and debt. The cost of acquiring ReNew Surya Aayan from ReNew Solar Power will not exceed ₹13.82 billion (~$161 million). Koppal–Narendra Transmission will be acquired from ReNew Transmission Ventures at ₹7.26 billion (~$87.7 million).</p>
<p>Under pressure from increasing debt and falling demand, U.S.-based residential solar company Sunnova Energy <a href="https://www.mercomindia.com/reil-issues-rate-contract-tender-for-1-mw-rooftop-solar-projects" target="_blank" rel="noopener">filed</a> for Chapter 11 bankruptcy protection on Sunday. Earlier this month, Sunnova TEP Developer, Sunnova Energy’s subsidiary, filed a voluntary petition for relief under Chapter 11 before the United States Bankruptcy Court for the Southern District of Texas. In May, the company’s board approved a reduction in workforce, effective May 30, 2025. It let go of approximately 718 employees (approximately 55% of the company’s workforce) to reduce the company’s operating expenses and to preserve value for stakeholders. Sunnova had spoken about the impacted employees being paid earned wages and salary, as well as earned but unused paid time off, and a severance payment calculated in accordance with the applicable employee’s severance plan.</p>
<p>Global investments in the energy sector are set to <a href="https://www.mercomindia.com/reil-issues-rate-contract-tender-for-1-mw-rooftop-solar-projects" target="_blank" rel="noopener">reach</a> a record $3.3 trillion in 2025, a 2% increase from 2024, according to the International Energy Agency’s World Energy Investment 2025 report. Approximately $2.2 trillion is being invested collectively in renewables, nuclear energy, grids, storage, low-emission fuels, efficiency, and electrification. This investment is twice the $1.1 trillion allocated to oil, natural gas, and coal. Over one-quarter of the worldwide energy investments occur in China. In recent years, fossil fuel-importing nations aiming to enhance their energy security have accounted for much of the spending growth. Power sector investments reached a new high in 2024 with $1.5 trillion in investments. This growth was driven primarily by record investments in low-emission generation sources, the grid, and battery storage.</p>


Daily News Wrap-Up: Leading Solar Module Mounting Structure Firms in 2024


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					</table><p>The Multi Commodity Exchange of India (<a href="https://www.mcxindia.com/" target="_blank" rel="noopener">MCX</a>) has secured approval from the Securities and Exchange Board of India (<a href="https://www.sebi.gov.in/" target="_blank" rel="noopener">SEBI</a>) to introduce electricity derivatives.</p>
<p>These financial instruments derive their value from electricity prices and are primarily used for hedging, speculation, or arbitrage. They enable power producers, distributors, and large consumers to manage risks associated with electricity price volatility. Instead of physical delivery, any gains or losses from price fluctuations are settled in cash, making the contracts purely financial.</p>
<p>According to Praveena Rai, MD and CEO at MCX, the launch of electricity derivatives is a significant milestone for India’s commodities landscape. She noted that these contracts will offer market participants a transparent, reliable, and regulated platform to manage the increasing price volatility in the power sector. The rising share of renewables and the shift toward market-based mechanisms are making electricity prices more dynamic, and derivatives can act as a crucial link between physical electricity markets and financial risk management.</p>
<p>Historically, India’s power sector has relied on long-term power purchase agreements (PPA) to mitigate price volatility. These contracts, often lasting 25 years, offer price stability but lack adaptability, as they do not reflect changing supply and demand conditions. As a result, stakeholders have limited flexibility in responding to market dynamics.</p>
<p>Meanwhile, the short-term power market, facilitated by power exchanges, has become increasingly unpredictable. Prices recently <a href="https://www.mercomindia.com/real-time-power-prices-on-crashes" target="_blank" rel="noopener">plummeted</a> due to surplus solar generation. The markets have also spiked to regulatory caps during peak demand hours. This unpredictability poses risks for both generators and consumers.</p>
<p>Electricity derivatives offer a potential solution to these challenges. Power generators can use them to hedge against price drops when selling in spot markets. At the same time, large industrial consumers can manage their electricity procurement costs more effectively by capping their exposure. Additionally, introducing these contracts allows traders and financial institutions to treat electricity like any other commodity, integrating it into investment portfolios with defined and measurable risk profiles.</p>
<p>Globally, electricity derivatives have played a crucial role in mitigating power market volatility across mature economies. In the U.S., exchanges such as the New York Mercantile Exchange and the Intercontinental Exchange (ICE) trade futures and options tied to major regional transmission organizations. In Europe, the European Energy Exchange handles a wide range of electricity derivatives, offering financial and physical settlement mechanisms. The UK’s power contracts are traded on ICE and Nord Pool N2EX, while the Australian Energy Securities Exchange offers baseload and peak load futures tailored to the National Electricity Market.</p>
<p>There has been a regulatory <a href="https://www.mercomindia.com/cerc-releases-draft-virtual-power-purchase-agreement-guidelines" target="_blank" rel="noopener">movement</a> to promote virtual PPAs as more commercial and industrial entities seek to meet their net-zero targets without needing the physical connection to a renewable energy project, especially those with distributed operations and leased facilities.</p>


MCX Gets SEBI Nod to Trade Electricity Derivatives

<p>The Multi-Commodity Exchange of India (<a href="https://www.mcxindia.com/" target="_blank" rel="noopener noreferrer">MCX</a>) announced that it has entered into a licensing agreement with the Indian Energy Exchange (<a href="https://www.iexindia.com/" target="_blank" rel="noopener noreferrer">IEX</a>) to launch electricity derivatives in the country.</p>
<p>Derivatives refer to financial instruments like bonds, stocks, and commodities that are traded based on the value of their underlying assets, which in this case would be electricity.</p>
<p>“The launch of electricity derivatives shall provide an effective risk management avenue and help the value chain participants to hedge price risks and protect their revenue margins. With this, India shall also join a select group of developed countries that offer electricity derivatives on an exchange platform,” said the press statement.</p>
<p>MCX stated that the electricity derivatives would be linked to spot electricity prices of IEX on the MCX trading platform. The agreement requires mandatory approvals from the central government and concerned regulators, it added.</p>
<p>According to MCX, it is India’s first listed electronic exchange platform that introduces commodity options in the country. Commodities such as energy, metal, and bullion are traded on the platform.</p>
<p>Electricity trading has caught the attention of the markets off late.</p>
<p>In August 2020, the Central Electricity Regulatory Commission <a href="https://mercomindia.com/cerc-approves-introduction-green-term/" target="_blank" rel="noopener noreferrer">approved</a> the introduction of the ‘Green Term-Ahead Market’ (GTAM) contracts on the Indian Energy Exchange, adding that it would provide an avenue for short-term trading of renewable energy.  This market now offers the trade of intraday and day-ahead contracts in both the solar and non-solar segments.GTAM has witnessed an encouraging response since its <a href="https://mercomindia.com/cerc-approves-introduction-green-term/" target="_blank" rel="noopener noreferrer">launch</a> and had <a href="https://mercomindia.com/green-term-ahead-market-trades-three-million-units/" target="_blank" rel="noopener noreferrer">registered</a> trade of three million units in the 11 trading days in August.</p>
<p>Mercom then <a href="https://mercomindia.com/trading-renewable-energy-certificates-postponed/">reported</a> that the Appellate Tribunal for Electricity (<a href="http://www.aptel.gov.in/" target="_blank" rel="noopener noreferrer">APTEL</a>) issued an order postponing the trading of renewable energy certificates scheduled for July 29 by four weeks in a hearing for an appeal by the Green Energy Association against the CERC on July 24, 2020. The matter is still pending, and power traders are in limbo.</p>


MCX and IEX Sign Licensing Agreement to Launch Electricity Derivatives in India

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