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="https://cms.mercomindia.com/wp-content/uploads/2024/06/amazon_polly_67056.mp3?version=1718684821">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Pralhad Joshi has been appointed the Minister of New and Renewable Energy (<a href="https://mnre.gov.in/" target="_blank" rel="noopener">MNRE</a>) in the National Democratic Alliance government led by Prime Minister Narendra Modi. Manohar Lal Khattar is the new Minister of Power.</p>
<p>In the previous government, R K Singh held both the Power and MNRE portfolios as Cabinet minister. This time, two Cabinet ministers will handle the two portfolios separately.</p>
<p>Shripad Naik has been given charge as Minister of State for both the ministries.</p>
<p>The Prime Minister’s decision to appoint a cabinet minister for each of the two portfolios comes as a surprise, considering that the Ministry of Power and MNRE share a lot of synergies. Many of the ministries’ functions and policies overlap, which is perhaps why R K Singh was made the sole minister of both ministries in Modi’s last dispensation.</p>
<p>However, given India’s aggressive renewable energy push in the last few years, it could well be that the Prime Minister has decided to give more importance to MNRE by designating a Cabinet minister to be in charge of the ministry.</p>
<p>India now has the third-highest solar energy capacity globally. In the first quarter of 2024, India added over 10 GW of solar capacity, the highest-ever for a quarter, according to the <a href="https://www.mercomindia.com/product/q1-2024-india-solar-market-update" target="_blank" rel="noopener">Q1 2024 India Solar Market Update</a> from Mercom India Research. 2024 could turn out to be a record year for solar capacity additions.</p>
<p>The government has set a target of installing 500 GW of renewable energy capacity by the end of the decade. It has also launched the PM Surya Ghar: Muft Bijli Yojana, which aims to install rooftop solar systems in 10 million households. The MNRE has set up a mission directorate to <a href="https://www.mercomindia.com/mnre-sets-set-up-solar-program-implementation" target="_blank" rel="noopener">oversee</a> the implementation of the ambitious program.</p>
<p>Joshi, Minister of Coal and Mines in the previous government, will be expected to sustain and build on these ongoing renewable energy initiatives. He also held the portfolio of Parliamentary Affairs, which has helped build a rapport with all political parties, some of whom are in government in the states. This experience should help him push through renewable energy programs requiring buy-in from parties across the board.</p>
<p>Under Joshi’s charge, the Ministry of Mines launched the first-ever auctions of critical minerals used in the energy transition. Three tranches of the auctions have been held so far.</p>
<p>Khattar, a former chief minister of Haryana, assumed charge of the Ministry of Power and immediately got down to business by reviewing the power supply position in the country with his officials.</p>
<p>His role would be crucial when power demand across the country has been scaling new highs due to heightened industrial activity in recent years. Between him and Joshi, the two ministries will have to work together to integrate more renewable energy into the overall power mix to complement coal-based thermal and ensure the electricity demands of India’s economic engine are met.</p>


Pralhad Joshi Gets MNRE Portfolio, Khattar is New Minister of Power


					<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/2024/03/amazon_polly_63969.mp3?version=1709528435">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://www.mercomindia.com/indias-rooftop-solar-installations-1-7-gw-2023" target="_blank" rel="noopener"><strong>India installed 1.7 GW of rooftop solar capacity in 2023, the second-highest annual installation numbers on record, according to Mercom India Research</strong></a>’s newly unveiled 2023 Q4 &amp; Annual Mercom India Rooftop Solar Market Report. However, the capacity addition rose only by 3.7% as many commercial and industrial consumers held off on new projects while waiting for solar module prices to stabilize. Lower module prices forecasted in early 2024 are expected to help companies reduce project costs.</p>
<p><a href="https://www.mercomindia.com/india-launches-second-strategic-mineral-blocks" target="_blank" rel="noopener"><strong>The </strong><strong>Ministry of Mines</strong><strong> has issued the second tranche of the auction for the grant of concessions for 18 critical and strategic mineral blocks across seven states</strong></a>, with 17 designated for the grant of composite license and one for the mining lease. The Union Minister of Parliamentary Affairs, Coal and Mines, Pralhad Joshi , highlighted the diverse array of minerals up for auction in the second tranche, including Tungsten, Vanadium, Graphite, Rare Earth elements, Glauconite, Phosphorite, Nickel, Platinum group of minerals, Cobalt, and Potash.</p>
<p><a href="https://www.mercomindia.com/adani-discom-floats-tender-wind-power" target="_blank" rel="noopener"><strong>Adani Electricity Mumbai</strong><strong> has floated a tender to select project developers for the supply of 600 MW of power from grid-connected wind power projects in India</strong></a>. The selected developers are required to establish wind power projects on a build own operate basis. Land, connectivity, and long-term access will be in the scope of the project developer. The last date for the submission of the bid is April 2, 2024. Bids will be opened on April 5.</p>
<p><a href="https://www.mercomindia.com/chandigarh-tenders-50-mw-rooftop-solar-projects" target="_blank" rel="noopener"><strong>Chandigarh Renewable Energy and Science &amp; Technology Promotion Society has invited bids to set up 50 MW grid-connected rooftop solar power projects</strong></a> on various houses in the Union Territory under the renewable energy service company model. The projects must be installed on a build-operate-transfer basis and within five months of receiving the work order. The last date to submit the bids is March 13, 2024. Bids will be opened the following day.</p>
<p><a href="https://www.mercomindia.com/merc-approves-tariffs-for-tata-powers-225-mw-wind-solar-hybrid-projects" target="_blank" rel="noopener"><strong>The Maharashtra Electricity Regulatory Commission has approved Tata Power Company – Distribution’s adoption of tariffs of ₹3.27 (~$0.0394)/kWh</strong></a> and ₹3.28 (~$0.0395)/kWh discovered through competitive bidding for the procurement of 225 MW of wind-solar hybrid power along with 150 MW additional capacity under the ‘greenshoe’ option to meet its renewable purchase obligations.</p>
<p><strong><a href="https://www.mercomindia.com/polysilicon-imports-into-china-drop-vietnam" target="_blank" rel="noopener">Polysilicon imports into China dropped 28.5% in 2023 to 62,965 metric tons, the lowest level since 2011, according to Germany-based polysilicon market</a></strong> research firm Bernreuter. Polysilicon is a key material for making solar cells and semiconductors. The report also says that major foreign suppliers are shifting shipments from China to Vietnam after U.S. regulations aimed at preventing imports of goods linked to forced labor in Xinjiang came into force.</p>
<p><a href="https://www.mercomindia.com/breakthrough-in-silicon-solar-cell-efficiency" target="_blank" rel="noopener"><strong>Physicists at the </strong><strong>University of Paderborn</strong><strong> in Germany, through complex virtual simulations, have discovered that adding a thin layer of an organic semiconductor</strong></a> called tetracene to a silicon solar cell can achieve significantly higher efficiency. Tetracene absorbs short-wave high-energy radiation, a part of which is wasted away as heat, and converts it into lower-energy forms that can be efficiently used by the silicon in the solar cell.</p>
<p><a href="https://www.mercomindia.com/shoals-q4-revenue-driven-by-higher-sales" target="_blank" rel="noopener"><strong>Shoals Technologies Group</strong><strong>, a manufacturer of electrical balance of systems for solar, energy storage, and eMobility reported a net income of $16.6 million</strong></a> during the fourth quarter of 2023, contrasting with the $118.3 million reported in the corresponding period in 2022. The company stated that the previous year’s timeframe experienced a positive impact, deriving a gain of $110.9 million from concluding the tax receivable agreement.</p>
<p><a href="https://www.mercomindia.com/uttar-pradesh-invites-bids-mau-district" target="_blank" rel="noopener"><strong>The Uttar Pradesh New and Renewable Energy Development Agency has invited bids for a 5 MW grid-connected solar photovoltaic power project in Mau</strong></a> district on a build-own-operate and maintain basis. The last date for online bid submission is March 21, 2024. The bids will be opened the next day. The scope of work includes complete design, engineering, procurement, construction, installation, testing, commissioning, evacuation of power to the grid substation, and operation and management of the project.</p>


Daily News Wrap-Up: India’s Rooftop Solar Installations Reach 1.7 GW in 2023


					<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/2024/03/amazon_polly_63940.mp3?version=1710140131">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The <a href="https://mines.gov.in/webportal/home" target="_blank" rel="noopener">Ministry of Mines</a> has issued the second tranche of the auction for the grant of concessions for 18 critical and strategic mineral blocks across eight states, with 17 designated for the grant of composite license and one for the mining lease.</p>
<p>The Union Minister of Parliamentary Affairs, <a href="https://coal.nic.in/" target="_blank" rel="noopener">Coal</a> and <a href="https://mines.gov.in/webportal/home" target="_blank" rel="noopener">Mines</a>, Pralhad Joshi, during the announcement, highlighted the diverse array of minerals up for auction in the second tranche, including Tungsten, Vanadium, Graphite, Rare Earth elements, Glauconite, Phosphorite, Nickel, Platinum group of minerals, Cobalt, and Potash.</p>
<p>Notably, the launch of Potash mining in India is a significant milestone achieved through this auction.</p>
<p>The mineral blocks are spread across states such as Andhra Pradesh, Arunachal Pradesh, Chhattisgarh, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, and Tamil Nadu.</p>
<p>The critical minerals from the list essential for clean energy include Tungsten, Vanadium, Graphite, Copper, Gold, Nickel, Cobalt, Manganese, Iron, Platinum-group elements (PGE), and Chromium.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-63941 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Picture1.png" alt="" width="802" height="522" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Picture1.png 802w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Picture1-300x195.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Picture1-768x500.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Picture1-650x423.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Picture1-624x406.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Picture1-600x391.png 600w" sizes="(max-width: 802px) 100vw, 802px" /></p>
<p>The auction process has begun, with the sale of tender documents starting on the same day as the launch. The last date for purchasing the tender document is April 18, 2024. Bidders have to submit ₹300,000 (~$3,620) as cost of the document fee.</p>
<p>The last date for the submission of bids is April 23, 2024.</p>
<p>Interested parties can access detailed information about the mine locations, auction terms, and timelines on the MSTC auction platform.</p>
<p>The auction will be conducted online through a transparent two-stage ascending forward auction process. Eligible bidders will be selected based on the highest percentage of the value of mineral dispatch quoted by them.</p>
<p>During the launch event, the Ministry also distributed letters of financial grants to start-ups in the mining and mineral sector.</p>
<p>Additionally, the annual capacity-building plan for the Geological Survey of India (<a href="https://www.gsi.gov.in/webcenter/portal/OCBIS" target="_blank" rel="noopener">GSI</a>) was released, and the government emphasized its commitment to fostering growth and innovation in the sector.</p>
<p><strong>First Tranche</strong></p>
<p>In his address, the Minister expressed satisfaction with the response from the mining industry during the first tranche, where twenty blocks were <a href="https://www.mercomindia.com/ministry-of-mines-issues-critical-minerals-blocks" target="_blank" rel="noopener">auctioned</a>.</p>
<p>The strong interest demonstrated in the auction process was reaffirmed by the Ministry of Mines, which received over 50 bids for the first tranche of the auction of critical and strategic minerals.</p>
<p>The first tranche was earlier launched on November 29, 2023, which saw the auction of 20 critical and strategic mineral blocks, including minerals like glauconite, nickel, platinum group elements (PGE), potash, graphite, molybdenum, phosphorite, lithium, and rare earth elements (REE).</p>
<p>These blocks were distributed across states such as Bihar, Chhattisgarh, Gujarat, Jharkhand, Odisha, Tamil Nadu, Uttar Pradesh, and the Union Territory of Jammu and Kashmir.</p>
<p>The technical bid evaluation for the first tranche took place on February 27, 2024, with more than 180 tender documents purchased by interested bidders. The bidders represented a diverse range of sectors, including mining companies, EV manufacturers, cement producers, and energy sector entities.</p>
<p>The bidding companies included Vedanta, Coal India, NLC  India, Shree Cement, Orient Cements, Ola Electric, Dalmia Group, Rungta Group, Jindal Power, etc.</p>
<p>The Ministry of Mines recently <a href="https://www.mercomindia.com/cap-payments-critical-mineral-auctions" target="_blank" rel="noopener">proposed</a> changes to the Mineral (Auction) Rules, 2015, to cap the amount of performance security and upfront payments payable after winning the rights to extract minerals. The move addresses concerns regarding financial barriers that might impede bidder participation in auctions of critical minerals.</p>
<p>In September last year, the government <a href="https://www.mercomindia.com/government-cost-for-critical-mineral-exploration" target="_blank" rel="noopener">announced</a> a 25% incentive on the approved project cost for exploration agencies to enhance the exploration of critical minerals.</p>


India Launches Second Tranche of Auction for Critical and Strategic Mineral Blocks

<p>South Africa-based <a href="https://www.implats.co.za/downloads/2006/annual_report/review06/marula.htm" target="_blank" rel="noopener noreferrer">Marula Platinum Mine</a> has issued a request for information (RfI) for setting up a 10 MW solar project to power its operations.</p>
<p>Marula sought information on how to design, finance, supply, construct, commission, operate, and maintain a 10 MW solar project at its platinum mine in Limpopo, South Africa. It also requires assessments, advice to the mine’s management, and information regarding the development, land requirements, and securing environmental and technical permits for the project.</p>
<p>The deadline for the RfI is October 20, 2020. It noted that parties need not quote prices, sign agreements, or submit a proposal for this process.</p>
<p>The company, owned by South African Holding Company <a href="https://www.implats.co.za/downloads/2006/annual_report/review06/marula.htm" target="_blank" rel="noopener noreferrer">Implats</a>, explained the move citing issues with the quality of electricity supplied by its state utility <a href="https://www.eskom.co.za/" target="_blank" rel="noopener noreferrer">Eskom</a> which have adversely affected its production.</p>
<p>Additionally, Marula said that recent regulatory changes by the country’s Department of Minerals Resource and Energy allowing mining companies to use alternative sources of power, including self-generation options, to meet their production and expansion needs.</p>
<p>Earlier, Mercom <a href="https://mercomindia.com/south-africa-sasol-invites-bids-solar/" target="_blank" rel="noopener noreferrer">reported</a> that Sasol, a South Africa-based integrated chemicals and energy company, has issued a request for proposal to develop two solar projects of 10 MW at its Secunda and Sasolburg facilities. It said it would sign a long-term power purchase agreement with the successful bidder to supply electricity to its facilities. The company said it is committed to securing 600 MW of renewable energy capacity eventually, and this tender was the first step in that direction.</p>
<p>Previously, <a href="https://arcelormittalsa.com/" target="_blank" rel="noopener noreferrer">ArcelorMittal South Africa</a>, a steel producer, issued a request for information to recruit independent power producers to set up solar power projects at six locations in South Africa. The company plans to enter into power purchase agreements with IPPs to build, own, and operate solar projects at Vanderbijlpark, Newcastle, Vereeniging, Pretoria, Thabazimbi, and Saldanha. These projects will be used to supply low-cost power for its operations across these sites.</p>
<p>&nbsp;</p>
<p>Image credit: U.S. Department of the Interior / CC BY-<a href="https://creativecommons.org/licenses/by-sa/2.0" target="_blank" rel="noopener noreferrer">SA</a></p>


mines

Get the most relevant India solar and clean energy news.

RECENT POSTS