PFCL Floats Empanelment Tender for Metering Infrastructure Service Providers

Solarium Green Energy Receives BSE Nod for Initial Public Offering

Power Transmission Company Kalpataru Projects Raises ₹10 Billion in QIP

Himachal Regulator Approves Tariff for 900 MW Hybrid Power Projects

Daily News Wrap-Up: HPERC Allows DISCOM To Procure 550 MW Solar Power

MES Invites Bids for Maintenance of 1.7 MW Solar Project

Exploring Solar Open Access Potential in Odisha and Haryana

Karnataka Floats EPC Tender for 1.2 MW Solar Project

Himachal Regulator Allows DISCOM to Procure 550 MW Solar Power from SECI

Agri-Solar Solutions Provider GK Energy Files Papers for ₹5.01 Billion IPO

The month of May was a busy time for the domestic renewable energy sector as it witnessed some important policy announcements from the central as well as the state governments. Below are some of the month’s highlights:
National 
The Ministry of Power <a href="https://mercomindia.com/draft-amendments-for-captive-generation-projects/" target="_blank" rel="noopener">has amended the guidelines</a> relating to captive generation projects in India. The amended guidelines are called the draft Electricity (Amendment) Rules, 2018 and will come into effect from the date of publication in the Official Gazette (except sub-clause c of clause 2 of Rule 3).
The Solar Energy Corporation of India (<a href="http://seci.co.in/" target="_blank" rel="noopener">SECI</a>) has <a href="https://mercomindia.com/seci-extends-bid-submission-deadline-200mw-solar/" target="_blank" rel="noopener">indefinitely extended the bid-submission deadline</a> for the development of 200 MW (AC) of solar projects under the domestic content requirement (DCR) category in the state of Madhya Pradesh. SECI had tendered the projects on behalf of Coal India Limited (CIL).
The Department of Commerce <a href="https://mercomindia.com/department-commerce-to-have-dgtr/" target="_blank" rel="noopener">will soon have a Directorate General of Trade Remedies (DGTR)</a>. DGTR will be a multi-service organization drawing on the skill-set of various officers from the field of international trade, customs, revenue, finance, economics, costing, and law. DGTR will be the apex national authority for administering all trade remedial measures including anti-dumping, countervailing duties and safeguard measures.
The Indian government <a href="https://mercomindia.com/cabinet-approves-national-policy-biofuels/" target="_blank" rel="noopener">has approved the National Policy on Biofuels</a> – 2018. Biofuels have been categorized as “Basic Biofuels” – First Generation (1G) bioethanol and bio diesel,” Advanced Biofuels” – Second Generation (2G) ethanol, Municipal Solid Waste (MSW) to drop-in fuels, and Third generation (3G) biofuels, bio-CNG, to enable the extension of appropriate financial and fiscal incentives under each category.
The Central Electricity Regulatory Commission (<a href="http://cercind.gov.in/" target="_blank" rel="noopener">CERC</a>) has <a href="https://mercomindia.com/cerc-procedural-guidelines-ists/" target="_blank" rel="noopener">released procedural regulations</a> for granting Inter-State Transmission System (ISTS) connectivity to renewable energy projects.
The Reserve Bank of India (RBI) <a href="https://mercomindia.com/rbi-fpi-amended-guidelines-india-renewables/" target="_blank" rel="noopener">has amended the guidelines</a> with regards to investments made in the country by foreign portfolio investors (FPI). The amended guidelines have been issued with immediate effect.
State
A vacation bench of the Karnataka High Court has <a href="https://mercomindia.com/karnataka-hc-stays-kerc-wheeling-charges/" target="_blank" rel="noopener">imposed an indefinite stay</a> on the Karnataka Electricity Regulatory Commission’s (<a href="http://www.karnataka.gov.in/kerc/Pages/home.aspx" target="_blank" rel="noopener">KERC</a>) recent order which levied 25 percent of the normal transmission charges as wheeling charges for open access consumers in the state.  The current wheeling charges being levied are five times more than the charges imposed in the state earlier.
The Maharashtra State Authority of Advanced Ruling (MSAAR) <a href="https://mercomindia.com/solar-epc-gst-rules-maharashtra/" target="_blank" rel="noopener">stated that the supply</a> of turnkey engineering, procurement and construction (EPC) contract for the construction of a solar power project in which both goods and services are supplied cannot be interpreted as a composite (a mix of components which make up a solar project) supply contract. Instead the GST will be applicable at individual component rates. In another <a href="https://mercomindia.com/solar-projects-gst-maharashtra/">order</a>, it contended that if an agreement for the ‘supply of goods’ extends to other aspects of a solar power project, such as design and operations, then the rate of tax would be 18 percent under the IGST act.
MNRE
The Ministry of New and Renewable Energy (MNRE) has <a href="https://mercomindia.com/mnre-invites-suggestions-rooftop-off-grid-solar/" target="_blank" rel="noopener">invited suggestions on</a> construction standards for civil, mechanical, and electrical works for rooftop solar and off-grid solar PV systems.
The President <a href="https://mercomindia.com/mnre-program-ists-wind-solar-hybrid-approved/" target="_blank" rel="noopener">has approved MNRE’s proposed program</a> to set up 2.5 GW of inter-state transmission system (ISTS)-connected wind and solar hybrid projects across the country on build own operate (BOO) basis.
The MNRE <a href="https://mercomindia.com/mnre-amends-guidelines-solar-park-developers/" target="_blank" rel="noopener">has amended the guidelines</a> for the selection of solar power park developers (SPPDs) through tariff-based competitive bidding process. The MNRE has amended the guidelines to bring more transparency in the selection of SPPDs for the development of solar parks.
The government <a href="https://mercomindia.com/mnre-creates-rpo-compliance-cell/" target="_blank" rel="noopener">has created a compliance cell for renewable purchase obligations (RPOs)</a>. The cell will coordinate with states, the central electricity regulatory commission (CERC) and state electricity regulatory commissions (SERCs) to ensure RPO compliance.
The ministry also <a href="https://mercomindia.com/mnre-policy-wind-solar-hybrid/" target="_blank" rel="noopener">announced the new wind solar hybrid policy</a> which aims at providing a framework for the expansion of grid-connected wind-solar photovoltaics (PV) hybrid systems in the country.
Image credit: Azure Power

Major Policy Announcements in May 2018 for India’s Renewable Sector, Especially Solar

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					</table>A rundown of notable news covering everything from auctions and deals to tax developments from the month of December
December proved to be a crucial month for India’s renewable energy sector after numerous developments and announcements emerged from key industry players and various government agencies.
Here’s a quick wrap of all the major developments in India’s clean energy sphere that made headlines in the final month of 2017:
The Solar Energy Corporation of India (SECI) released a final list of the winning bidders in its <a href="https://mercomindia.com/seci-releases-final-list-winning-bidders-500-mw-rooftop-solar-auction/" target="_blank" rel="noopener">500 MW</a> rooftop solar auction.
The Power Finance Corporation (<a href="https://mercomindia.com/pfc-issues-green-bonds-lses/" target="_blank" rel="noopener">PFC</a>), an undertaking of the government of India, issued $400 million (~₹25.72 billion) of green bonds on the London Stock Exchange’s new International Securities Market.
If things work out as <a href="https://mercomindia.com/india-consumers-power-service-providers/" target="_blank" rel="noopener">planned</a>, proposed amendments to the Electricity Act may soon enable Indian consumers to change power suppliers as easily as they switch between telecom service providers.
Solar energy consultancy <a href="https://www.sgurrenergy.com/" target="_blank" rel="noopener">SgurrEnergy India</a> is on track to<a href="https://mercomindia.com/sgurrenergy-india-solar-project-consulting-2018/" target="_blank" rel="noopener"> surpass</a> 15 GW of solar project consulting in 2018.
Several <a href="https://mercomindia.com/anti-dumping-solar-projects-india/" target="_blank" rel="noopener">key players</a> in India’s solar industry met to discuss the impact of the investigation into imported solar goods and the possible effects of a proposed <a href="https://mercomindia.com/breaking-india-initiates-anti-dumping-proceedings-solar-imports-china-taiwan-malaysia/" target="_blank" rel="noopener">anti-dumping duty</a>.
The Office of the Directorate General of Anti-Dumping (DGAD) held an oral hearing regarding the anti-dumping petition <a href="https://mercomindia.com/breaking-news-indian-solar-manufacturers-file-anti-dumping-petition/" target="_blank" rel="noopener">filed</a> by the Indian Manufacturers Association against cells and modules from China, Malaysia, and Taiwan. A final verdict is still awaited.
The International Solar Alliance (<a href="https://mercomindia.com/isa-international-intergovernmental-organization/" target="_blank" rel="noopener">ISA</a>) became a treaty-based international intergovernmental organization on December 6, 2017.
<a href="https://www.hdfcergo.com/campaign/hdfcergo_allinone_campaign.html?utm_source=Google_search&amp;utm_medium=Search&amp;utm_term=brand-hdfcergo&amp;utm_content=Brand_text_ad&amp;utm_campaign=brand-exact&amp;gclid=EAIaIQobChMIldzhjqj11wIVDx4rCh089AC0EAAYASAAEgKZNPD_BwE" target="_blank" rel="noopener">HDFC Ergo</a> General Insurance Company, a joint venture between HDFC Ltd and ERGO International, launched the first <a href="https://mercomindia.com/hdfc-ergo-solar-energy-shortfall-insurance-policy-india/" target="_blank" rel="noopener">solar energy shortfall insurance policy</a> in India that gives solar project developers the ability to insure certain causes of solar power generation loss.
SMA Solar announced that it has sold over <a href="https://mercomindia.com/sma-solar-inverters-india/" target="_blank" rel="noopener">3 GW</a> of solar inverters in India cumulatively, including more than 1 GW in 2017 into all market segments.
Automobile manufacturer <a href="http://www.tatamotors.com/" target="_blank" rel="noopener">Tata Motors</a> rolled out its <a href="https://mercomindia.com/tata-motors-rolls-first-batch-evs-eesl/" target="_blank" rel="noopener">first batch of electric vehicles (EVs)</a> for the public sector joint venture Energy Efficiency Services Limited (<a href="https://eeslindia.org/" target="_blank" rel="noopener">EESL</a>).
<a href="https://mercomindia.com/solar-imports-q3-year/" target="_blank" rel="noopener">Import and export activity</a> in the Indian solar sector dropped by ₹30 billion ($464.15 million) quarter-over-quarter to $776.08 million (~₹49.9 billion) in the third-quarter of calendar year 2017.
Solar <a href="https://mercomindia.com/november-solar-tenders-auctions-india/" target="_blank" rel="noopener">tender and auction activity</a> in India declined steeply in November 2017. Solar capacity tendered across the country during the month fell by 25 percent to 300 MW compared to the <a href="https://mercomindia.com/india-solar-auction-activity-falls-tenders-rise/" target="_blank" rel="noopener">October 2017</a> total and the amount of solar auctioned dropped by 98 percent to just 5 MW.
Indian renewable energy project developer <a href="https://renewpower.in/" target="_blank" rel="noopener">ReNew Power</a> acquired a <a href="https://mercomindia.com/renew-power-acquires-wind-projects/" target="_blank" rel="noopener">100 percent stake</a> in KCT Renewable Energy Private Limited (<a href="https://www.kctrenewableenergy.com/" target="_blank" rel="noopener">KCTREPL</a>) from the Karm Chand Thapar (KCT) Group for over ₹10 billion (~$155 million).
Longi Green, a Chinese solar equipment and component manufacturer, announced plans to set up cell and module manufacturing units of <a href="https://mercomindia.com/longi-green-cell-module-manufacturing-india/" target="_blank" rel="noopener">500 MW each</a> in the state of Andhra Pradesh.
The Andhra Pradesh Electricity Regulatory Commission (APERC) approved Power Purchase Agreements for 41 wind projects aggregating <a href="https://mercomindia.com/aperc-approves-ppas-wind/" target="_blank" rel="noopener">841.32 MW</a>.
The Indian Railways Finance Corporation raised <a href="https://mercomindia.com/irfc-green-bond-london-stock-exchange/" target="_blank" rel="noopener">$500 million (~₹32.07 billion)</a> through the issuance of its first green bond on the London Stock Exchange’s new International Securities Market.
The Ministry of New and Renewable Energy (MNRE) gave its in-principle approval to Tamil Nadu Generation and Distribution Corporation (TANGEDCO) for the development of a <a href="https://mercomindia.com/mnre-tangedcos-solar-park-tamil-nadu/" target="_blank" rel="noopener">500 MW</a> solar park in Ramanathapuram, Tamil Nadu.
The Maharashtra State Electricity Distribution Company Limited (<a href="http://www.mahadiscom.com" target="_blank" rel="noopener">MSEDCL</a>) won <a href="https://mercomindia.com/merc-msedcl-renewable-bidding/" target="_blank" rel="noopener">approval</a> to procure wind, solar, and bagasse‑based cogeneration power at a rate discovered through a tariff‑based competitive bidding process.
The Securities and Exchange Board of India (SEBI) approved <a href="https://www.acme.in/" target="_blank" rel="noopener">ACME Solar Holdings</a>’ Initial Public Offering (IPO) worth <a href="https://mercomindia.com/acmes-ipo-bhadla-solar-project/" target="_blank" rel="noopener">₹22,000 million (~$336.86 million)</a>.
<a href="https://www.yesbank.in/" target="_blank" rel="noopener">YES Bank</a>, one of the largest private sector banks in India, <a href="https://mercomindia.com/yes-bank-eib-renewable-energy-financing-program-india/" target="_blank" rel="noopener">collaborated</a> with the European Investment Bank (<a href="http://www.eib.org/" target="_blank" rel="noopener">EIB</a>), the European Union’s non-profit long-term lending institution, to formulate a renewable energy financing program for India.
To ensure <a href="https://mercomindia.com/cea-generation-batteries-grid-stability/" target="_blank" rel="noopener">grid stability</a> in the face of massive increases in intermittent renewable generation, India needs to produce flexible, stand-by generation and battery storage capacity, according to a <a href="https://2rjrmf33rccw3lrxgi3x82yy-wpengine.netdna-ssl.com/wp-content/uploads/2017/12/report.pdf" target="_blank" rel="noopener">report</a> released by the Central Electricity Authority (<a href="http://www.cea.nic.in/" target="_blank" rel="noopener">CEA</a>).
<a href="http://www.waaree.com/" target="_blank" rel="noopener">Waaree Energies</a>, an Indian solar module manufacturer and engineering, procurement, and construction (EPC) services provider, raised <a href="https://mercomindia.com/waaree-centrum-private-equity/" target="_blank" rel="noopener">₹1 billion (~$15.6 million)</a> from Centrum Financial Services Ltd., the non-banking finance arm of the Centrum Group and a private equity firm.
The Indian Solar Manufacturers Association (<a href="https://mercomindia.com/isma-petition-safeguard-duty-solar-cells/" target="_blank" rel="noopener">ISMA</a>) filed a petition with the Directorate General of Safeguards that seeks to impose a Safeguard Duty on imported solar cells from China, Malaysia, Singapore, and Taiwan.
<a href="http://www.jasolar.com/" target="_blank" rel="noopener">JA Solar Holdings Company Ltd</a>., a vertically-integrated module manufacturer, announced that its module shipments to India reached <a href="https://mercomindia.com/ja-solars-solar-module-export-india-reaches-1-gw-2017/" target="_blank" rel="noopener">1 GW</a> in 2017.
The government of India brought light to more than <a href="https://mercomindia.com/indian-government-lights-villages-2017/" target="_blank" rel="noopener">15,000 villages</a> in 2017. Still, around 2,217 villages are yet to see the lights turn on in their homes and the central government plans to electrify those remaining villages by May 2018.
Proceeding with its plan to launch an Initial Public Offering <a href="https://mercomindia.com/ireda-files-ipo-sebi/" target="_blank" rel="noopener">(IPO)</a>, the Indian Renewable Energy Development Agency (<a href="http://ireda.in/" target="_blank" rel="noopener">IREDA</a>) filed a draft red herring prospectus with the Securities and Exchange Board of India (<a href="https://www.sebi.gov.in/" target="_blank" rel="noopener">SEBI</a>).
In the ongoing saga of the World Trade Organization (WTO) solar Domestic Content Requirement (DCR) case between the US and India, the US <a href="https://mercomindia.com/india-failed-wto-ruling-dcr-case/" target="_blank" rel="noopener">communicated</a> to the WTO that India failed to comply with earlier rulings and recommendations made by the WTO Dispute Settlement Body.
Various development banks made substantial concessional loans to assist the Indian government in its plans to expand <a href="https://mercomindia.com/development-banks-loaned-indian-solar-rooftops-2017/" target="_blank" rel="noopener">solar rooftop installations</a> in 2017.
In December, Distribution Companies (DISCOMs) propelled India’s REC trade to a new high during a mad dash to purchase non-solar Renewable Energy Certificates (<a href="https://mercomindia.com/discoms-trade-non-solar-recs-december/" target="_blank" rel="noopener">RECs</a>) to fulfill their Renewable Purchase Obligations (RPOs) before the end of the year .
John ‘Skip’ Dise, director of product at <a href="https://www.cleanpower.com/" target="_blank" rel="noopener">Clean Power Research</a> and Ann Gaglioti, chief executive officer of <a href="http://www.grndwork.com/" target="_blank" rel="noopener">GroundWork Renewables</a>, sat down with the Mercom India news team to discuss their thoughts on the industry and talked about why their US-based companies are preparing to <a href="https://mercomindia.com/solar-developers-data-sets-financing-costs/" target="_blank" rel="noopener">enter</a> the Indian solar sector.

December 2017 Wrap-up: New Developments in India’s Solar and Renewable Energy Sector

Here is a list of important headlines, developments, and data points from India’s renewable energy sector from a busy November 2017.
Indian solar installations totaled 2,247 MW in <a href="https://mercomindia.com/indian-solar-installations-totaled-record-2-2-gw-q3/" target="_blank" rel="noopener">Q3 2017</a>, up 300 MW from Q2 according to the recently released <a href="https://mercomindia.com/product/q3-2017-india-solar-quarterly-market-update/" target="_blank" rel="noopener">India Solar Market Update</a> by Mercom India Research.
The <a href="https://mercomindia.com/pavagada-solar-park-projects/" target="_blank" rel="noopener">Pavagada Solar Park</a> in the Pavagada Taluk, Tumakuru District of Karnataka is set to become the largest solar park in a single location and will have 2 GW of capacity when complete.
CleanMax Solar, an Indian rooftop solar developer, has raised <a href="https://mercomindia.com/cleanmax-solar-raises-ifc/" target="_blank" rel="noopener">$15 million (~₹964.52 million)</a> in investment from the International Finance Corporation (IFC), a member of the World Bank Group.
Veer Energy &amp; Infrastructure Limited has entered the business to consumer (<a href="https://mercomindia.com/veer-energy-b2c-market-rooftop-solar/" target="_blank" rel="noopener">B2C</a>) market to provide EPC solutions to install rooftop solar projects.
The Canada Pension Plan Investment Board (CPPIB) is set to invest approximately <a href="https://mercomindia.com/canada-pension-plan-investment-board-invest-renew-power/" target="_blank" rel="noopener">$200 million (~₹12.9 billion)</a> in ReNew Power Ventures in the form of compulsory convertible preference shares (convertible debt) that will convert to equity shares at the time of initial public offering.
Following a recent lull in tender activity, the Ministry of New and Renewable Energy (<a href="https://mercomindia.com/mnre-tender-solar-wind-projects-march-2018/" target="_blank" rel="noopener">MNRE</a>) is preparing to announce a spate of tenders for solar projects in the coming four months, starting in December 2017, to help the government reach the goal of installing 100 GW of solar capacity by 2022.
Power Sale Agreement (<a href="https://mercomindia.com/power-sale-agreement-1000-mw-wind-projects-signed/" target="_blank" rel="noopener">PSA</a>) for 1,000 MW of inter-state transmission system (ISTS)-connected wind projects has been signed. The Solar Energy Corporation of India (SECI) entered PSAs with distribution utilities/companies (DISCOMs) of Uttar Pradesh, Bihar, Jharkhand, Assam, Punjab, Goa and Odisha for the supply of power from these projects.
The increase in <a href="https://mercomindia.com/power-tariffs-policy-rooftop-market/" target="_blank" rel="noopener">rooftop solar</a> installations is being driven by the growing number of commercial, industrial, and government facilities that are using rooftop solar as a way to reduce their electricity bills.
The Power purchase agreement (<a href="https://mercomindia.com/ppa-solar-kadapa-solar-park/" target="_blank" rel="noopener">PPA</a>) for the 250 MW grid-connected solar photovoltaic (PV) project to be developed in Kadapa Solar Park will be signed soon.
Solar accounted for <a href="https://mercomindia.com/india-generated-solar-power-q3-2017/" target="_blank" rel="noopener">5.3 billion units (BU)</a> of electricity produced in India during the third quarter (Jul-Sep) of 2017, a 91 percent increase over the third quarter of 2016.
The Solar Energy Corporation of India (SECI) will be tendering <a href="https://mercomindia.com/breaking-leverage-dip-wind-tariff-seci-tender-2-gw-ists-connected-wind-projects-december-2017/" target="_blank" rel="noopener">2,000 MW</a> of inter-state transmission system (ISTS)-connected wind projects to be developed across the windy states in December 2017.
Power purchase agreements (<a href="https://mercomindia.com/ppas-signed-750-mw-solar-projects-bhadla-solar-park/" target="_blank" rel="noopener">PPAs</a>) for five solar projects with a combined total capacity of 750 MW of grid-connected solar were recently signed by the Solar Energy Corporation of India (SECI).
The Photovoltaik-Institut Berlin (<a href="https://mercomindia.com/pi-berlin-creates-indian-subsidiary/" target="_blank" rel="noopener">PI Berlin</a>) has created an Indian subsidiary based in New Delhi that will enable it to provide services to the Indian market from a local base of operations.
India’s renewable energy industry and various government agencies that oversee it have developed a range of mobile and desktop applications (<a href="https://mercomindia.com/india-solar-power-apps/" target="_blank" rel="noopener">apps</a>) to encourage interaction, increase transparency and improve customer understanding of India’s renewable energy market.
The Government of India (GoI) and the World Bank have signed agreements to develop large-scale solar parks in India. As part of the agreements the World Bank will provide <a href="https://mercomindia.com/world-bank-will-provide-100-million-develop-solar-parks-india/" target="_blank" rel="noopener">$100 million (~₹6.5 billion)</a> to develop solar power generating projects.
An <a href="https://mercomindia.com/breaking-india-anti-dumping-solar-imports-oral-hearing-held-november-30-2017/" target="_blank" rel="noopener">oral hearing</a> regarding the ongoing anti-dumping investigation into solar imports from China PR, Chinese Taipei, and Malaysia will be held on December 12, 2017.
Two Oil majors of India, The Indian Oil Corporation Limited (IOCL), an Indian state-owned oil and gas company and Hindustan Petroleum Corporation Ltd (HPCL) launched electric vehicle (<a href="https://mercomindia.com/indian-oil-hindustan-petroleum-launch-ev-charging-stations-nagpur/" target="_blank" rel="noopener">EV</a>) charging stations in Nagpur in their company operated fuel stations.
<a href="https://mercomindia.com/canadian-solar-solar-project-maharashtra/" target="_blank" rel="noopener">Canadian Solar</a>, a global module supplier and solar project developer, has sold its 80 MW (108 MW DC) grid-connected solar project in Maharashtra.
Solar project auction <a href="https://mercomindia.com/india-solar-auction-activity-falls-tenders-rise/" target="_blank" rel="noopener">activity</a> in October 2017 witnessed a steep 54.9% decline while tenders were up 25.3 percent compared to September 2017 in India.
India’s electric vehicle (EV) sector is becoming <a href="https://mercomindia.com/competition-heating-india-ev-sector/" target="_blank" rel="noopener">competitive</a>. EV is the next big Cleantech opportunity in India and market players are grabbing it with both hands.
A winning bid of <a href="https://mercomindia.com/winning-bid-without-vgf-quoted-seci-solar-auction/" target="_blank" rel="noopener">₹4.18/kWh</a> without viability gap funding (VGF) was quoted in a 5 MW grid-connected solar PV project auction conducted by Solar Energy Corporation of India (SECI), under NSM Defense VGF Program.
ABB is teaming up with transportation officials in the city of <a href="https://mercomindia.com/abb-developing-solar-charging-stations-e-rickshaws-jabalpur/" target="_blank" rel="noopener">Jabalpur</a> to help create a network of solar-powered charging stations that will be used to power e-rickshaws.
The <a href="https://mercomindia.com/solar-projects-indian-ports-solar-panels/" target="_blank" rel="noopener">misclassification</a> of solar modules by port authorities has created confusion and delays in the Indian solar sector besieged by challenges.
In the first three quarters of 2017, the Indian solar sector saw almost <a href="https://mercomindia.com/financing-activity-indian-solar-sector/" target="_blank" rel="noopener">$4.2 billion (~₹272 billion)</a> in announced corporate, project funding, and M&amp;A deals.
<a href="https://mercomindia.com/solar-wind-account-60-new-power-capacity-additions-india-9m-2017/" target="_blank" rel="noopener">Solar and Wind</a> accounted for majority of new power capacity additions with renewable energy installations accounting for almost 19 percent of the country’s total installed power as of September 30, 2017.
The second edition of the Global Renewable Energy Investors Meet &amp; Expo, <a href="https://mercomindia.com/re-invest-2017-conference-postponed/" target="_blank" rel="noopener">RE-INVEST 2017</a>, that was scheduled to be held December 7-9, 2017 at the India Expo Centre, Greater Noida, National Capital Region of Delhi has been postponed to April 19-21, 2018 in the same venue.
The Gujarat High Court has ruled in favor of Gujarat Urja Vikas Nigam limited (<a href="https://mercomindia.com/gujarat-high-court-guvnl-wind-auction/" target="_blank" rel="noopener">GUVNL</a>) and given it the go-ahead to conduct a 500 MW wind auction.
India recorded a <a href="https://mercomindia.com/indias-power-supply-deficit/" target="_blank" rel="noopener">power supply deficit</a> of 0.7 percent during the six-month period between April to September 2017. Over 615,494 million units (MU) of electricity was supplied, 4,260 MU less than the targeted energy requirement of 619,754 MU.

Top Solar and Other Renewable Energy News Headlines from India in November 2017

IDFC Alternatives’ India Infrastructure Fund II (IIF II), through its wholly-owned subsidiary Vector Green Energy, has entered into definitive agreements with First Solar Power India and its affiliates to acquire seven operating solar projects with a total capacity of 190 MW for approximately $300 million (~₹19.3 billion) in an <a href="https://mercomindia.com/first-solar-divest-operating-solar-projects-india-planned-190-mw-project-sale/" target="_blank" rel="noopener">undisclosed deal</a>.  The projects are located in the Indian states of Andhra Pradesh and Telangana.
Azure Power, an Indian solar power producer, will issue and raise about <a href="https://mercomindia.com/azure-power-raise-500-million-rs-32-billion-sale-bonds/" target="_blank" rel="noopener">$500 million (~₹32 billion)</a> from the sale of bonds to overseas investors.
The National Thermal Power Corporation (<a href="https://mercomindia.com/ntpc-develop-20-electric-vehicle-charging-stations/" target="_blank" rel="noopener">NTPC</a>) will develop 20 electric vehicle (EV) charging stations at different locations in the national capital region.
Heavy Engineering Corporation Limited (<a href="https://mercomindia.com/heavy-engineering-corporation-invites-eoi-set-solar-module-manufacturing-unit-anti-dumping-case-looms/" target="_blank" rel="noopener">HEC</a>) is planning on setting up an integrated ‘State-of-the Art’ Solar Business Unit for the manufacture of solar photovoltaic (PV) modules that includes solar cells and wafers.
Solar tenders and auctions in India <a href="https://mercomindia.com/solar-tender-auction-activity-india-dropped-significantly-july-2017/" target="_blank" rel="noopener">slowed</a> substantially in August.
<a href="https://mercomindia.com/idfc-alternatives-raises-%E2%82%B92-5-billion/" target="_blank" rel="noopener">IDFC Alternatives</a>, through its India Infrastructure Fund II, raised ₹2.5 billion (~$39 million) through the sale of non-convertible debentures.
<a href="https://mercomindia.com/ibc-solar-signs-ppa-raises-financing-20-mw-solar-project-odisha/" target="_blank" rel="noopener">IBC Solar</a> raised approximately ₹980 million (~$15.3 million) in debt financing for a 20 MW solar project in Odisha from L&amp;T Infrastructure Finance.
The board of <a href="https://mercomindia.com/websol-scale-solar-cell-module-manufacturing-capacity-india/" target="_blank" rel="noopener">Websol Energy System Limited</a> has approved plans to expand the company’s cell line capacity by 100 MW and grow its module line capacity by 150 MW.
After a long lull, domestic content requirement (<a href="https://mercomindia.com/lull-dcr-tendering-begins-india/" target="_blank" rel="noopener">DCR</a>) tendering activity has picked up in India’s solar sector.
Bharat Heavy Electricals Limited (<a href="https://mercomindia.com/bhel-looking-partner-battery-energy-storage-system-manufacturer/" target="_blank" rel="noopener">BHEL</a>), an Indian engineering, procurement, and construction firm, is looking to form a joint venture (JV) partnership with a battery energy storage system (BESS) manufacturer.
The International Finance Corporation (<a href="https://mercomindia.com/ifc-provide-50-million-loan-arinsun-clean-energy-250-mw-solar-project-rewa/" target="_blank" rel="noopener">IFC</a>), a member of the World Bank Group, will provide a $50 million (~₹3.2 billion) loan to Arinsun Clean Energy, a subsidiary of Solenergi Power Private Ltd. (SPPL), backed by Actis, to develop a 250 MW solar project in the Rewa Solar Park in Madhya Pradesh.
The Rural Electrification Corporation (<a href="https://mercomindia.com/rural-electrification-corporation-provides-2-billion-loan-mahagenco-develop-thermal-renewable-energy-projects/" target="_blank" rel="noopener">REC</a>), a public-sector unit of the government of India involved in financing all segments of the power sector, has provided a ₹130 billion (~$2 billion) loan to Maharashtra State Power Generation Co. Ltd. (MAHAGENCO).
<a href="https://mercomindia.com/sembcorp-acquires-remaining-stake-sembcorp-green-infra-%E2%82%B914-1-billion-idfc/" target="_blank" rel="noopener">Sembcorp Industries</a>, an energy, water, and marine group operating worldwide, through its wholly-owned subsidiary Sembcorp Utilities, has entered into an agreement to acquire the remaining 28 percent stake in Sembcorp Green Infra (SGI), a wind and solar project developer, from IDFC Private Equity Fund III (IDFC)’s for ₹14.1 billion (~$220.2 million).
<a href="https://mercomindia.com/japanese-firm-mitsui-invest-9-million-omc-power/" target="_blank" rel="noopener">Mitsui &amp; Co.</a>, a Japanese trading house, said it plans to develop small-scale solar projects in India by investing $9.11 million (~₹582 million) in OMC Power, a rural power company that finances, builds, and operates small solar power projects with mini-grid distribution.
Tata Power and Adani led <a href="https://mercomindia.com/tata-power-adani-top-list-india-project-developers/" target="_blank" rel="noopener">solar project development</a> in India during the second quarter of 2017.
The Indian solar market added <a href="https://mercomindia.com/india-installs-4-8-gw-solar-first-half-2017-eclipsing-2016/" target="_blank" rel="noopener">1,869 MW</a> in the second quarter of 2017, bringing total installations in the first half of the year to 4,765 MW.
For the first time in years, the average selling price (<a href="https://mercomindia.com/rising-chinese-module-prices-pose-significant-short-term-challenge-indias-solar-industry/" target="_blank" rel="noopener">ASP</a>) for Chinese modules has begun to increase in India after, despite falling by approximately 5 percent during Q2 2017.

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