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/2024/01/amazon_polly_62123.mp3?version=1704978606">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>MSEB Solar Agro Power (MSAPL), a wholly-owned subsidiary of Maharashtra State Electricity Board <a href="https://www.msebindia.com/en/home/" target="_blank" rel="noopener">MSEB Holding Company</a>, has invited bids to procure 141 MW of solar power under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM KUSUM) program for feeder-level solarization in Beed.</p>
<p>The projects would be developed under the second phase of the Mukhyamantri Saur Krushi Vahini Yojana program.</p>
<p>The last day to submit the bids is February 27, 2024. The bid opening date will be informed later.</p>
<p>Bidders must furnish a processing fee of ₹2,500 (~$30)/ MW and a document cost of ₹25,000 (~$300).</p>
<p>They must also submit an earnest money deposit of ₹100,000 (~$1,203)/ MW of the quoted capacity.</p>
<p>Selected bidders must submit a performance bank guarantee of ₹500,000(~$6,015)/ MW of the quoted capacity.</p>
<p>The scope of work includes ownership, financing, development, design, engineering, procurement, construction, commissioning, operation, and maintenance of the project, including the evacuation infrastructure up to the delivery point.</p>
<p>If Maharashtra State Electricity Distribution Company (<a href="https://www.mahadiscom.in/en/home/" target="_blank" rel="noopener">MSEDCL</a>) is able to identify, before the bid due date, any new substations in the region of Beed that will be eligible for interconnection at 11 kV / 22 kV / 33 kV voltage level of substations, MSEDCL may decide to purchase an additional 57 MW of solar power.</p>
<p>Bidders must have commissioned or have an operational solar capacity of at least 250 MW if the quoted capacity is more than 200 MW. If the quoted capacity is less than 200 MW, the requirement will be 100 MW.</p>
<p>They must have a net worth of ₹10 million (~$120,302) for the last three financial years. The net worth of the last three financial years should not be negative.</p>
<p>Bidders must have a minimum annual turnover of ₹2.5 million (~$30,076)/MW during the previous financial year 2022-2023. They must possess internal resource generation capability in the form of profit before depreciation interest and taxes for an amount that shall be calculated at the rate of ₹1 million (~$12,030)/MW.</p>
<p>Foreign investment funds can qualify if the asset under management is worth at least ₹10 billion (~$120.3 million) and if they have minimum investible funds of at least ₹5 billion (~$60.15 million).</p>
<p>MSAPL has leased 1,686 acres of revenue land from the Maharashtra government under land lease agreements. The annual sub-lease rent for such revenue land will be ₹1 (~$0.012)/ hectare.</p>
<p>If bidders require private land, MSAPL has compiled a list of private land parcels that are available for lease on its portal. The base lease rent for such private lands will be ₹125,000 (~$1,503)/ hectare/ annum or 6% of the ready reckoner rate, whichever is higher, with a provision of 3% escalation annually.</p>
<p>If the developers intend to use any other land, they must lease or procure 100% of the required land for a period not less than the complete term of PPA on or before the scheduled commission date.</p>
<p>The tender has mandated the use of domestically manufactured modules listed on the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy.</p>
<p>The modules must ensure a capacity utilization factor of 19%.</p>
<p>MSEB Solar Agro Power has also <a href="https://www.mercomindia.com/maharashtra-366-mw-solar-power/" target="_blank" rel="noopener">invited</a> bids to procure 366 MW of solar power under Component C of the PM KUSUM program.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of real-time tender activity.</p>


MSEB Subsidiary Floats Tender to Procure 141 MW of Solar Power Under KUSUM


					<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/2023/09/amazon_polly_59071.mp3?version=1695962226">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><strong><a href="https://www.mercomindia.com/maharashtra-tenders-procure-1-92-gw-solar-power" target="_blank" rel="noopener">Maharashtra State Electricity Board (MSEB) Agro Solar Power, a wholly-owned subsidiary of MSEB Holding Company, has floated nine tenders to procure 1.92 GW of solar power under the Mukhyamantri Saur Krushi Vahini Yojana in Maharashtra.</a></strong> The tenders have been floated for 197.78 MW in Akola, 289.38 MW in Jalgaon, 116.65 MW in Jalna, 230.49 MW in Pune, 230.72 MW in Ahmednagar, 147 MW in Buldhana, 289.76 MW in the Nashik, 153.29 MW in the Washim, and 265.05 MW in the Nanded districts of Maharashtra. The last date to submit the bids for all the tenders is November 20, 2023. Bids will be opened on the same day.</p>
<p><a href="https://www.mercomindia.com/auction-first-offshore-wind-site-february-2024" target="_blank" rel="noopener"><strong>The Ministry of New &amp; Renewable Energy plans to conduct auctions to allocate offshore wind sites along the Tamil Nadu coastline.</strong></a> These projects will generate power for distribution through various avenues, including open access mode, third-party sale, power exchanges, or internal consumption. The National Institute of Wind Energy will administer these auctions. The first zone (B) is expected to be tendered by February 1, 2023. The other zones (E and G) will be auctioned sometime during the next financial year.</p>
<p><a href="https://www.mercomindia.com/sterling-and-wilson-%e2%82%b915-billion-equity-sales" target="_blank" rel="noopener"><strong>Sterling and Wilson Renewable Energy has received approval from its Board of Directors to raise ₹15 billion (~$180.38 million) through issuing a variety of financial instruments.</strong></a> The company said the fundraising will be via equity shares, global and domestic depository receipts, foreign currency convertible bonds, partly convertible debentures, non-convertible debentures, and other instruments that can be converted into equity shares. The company plans to do this in one or more phases through public or private offerings, including qualified institutional placements.</p>
<p><a href="https://www.mercomindia.com/gautam-solar-to-expand-gw" target="_blank" rel="noopener"><strong>New Delhi-based solar module manufacturer Gautam Solar has announced it will expand its annual solar module manufacturing capacity to 2 GW.</strong></a> The company hopes to augment the module manufacturing capacity by 2024. In pursuit of this goal, Gautam Solar has committed to investing approximately ₹1.5 billion (~$18 million) in its manufacturing infrastructure during the upcoming year. In a statement, the company said the increased manufacturing capacity will be dedicated to producing cutting-edge N-type TOPCon and Mono-PERC solar modules.</p>
<p><a href="https://www.mercomindia.com/startup-oorja-secures-funding" target="_blank" rel="noopener"><strong>Bengaluru-based Oorja, a tech startup specializing in predictive modeling for clean mobility solutions, has secured $1.5 million in funding to support product development, facilitate market expansion, and make inroads in the European and North American markets.</strong></a> The funding round was led by Micelio Fund and Capita-A Java Capital, Anicut Capital, and Lead Angels also participated in the round. Oorja employs a fusion of physics and machine learning to offer predictive modeling solutions tailored for engineers and designers within the electric vehicle sector. This approach simplifies intricate engineering challenges, expediting the shift towards clean mobility.</p>
<p><a href="https://www.mercomindia.com/smarter-inverters-crucial-from-advanced-solar-modules" target="_blank" rel="noopener"><strong>Technology in the solar industry is rapidly advancing, with larger solar modules with a power rating of 600W+ becoming the new standard.</strong></a> The shift has prompted upgrades in project designs to accommodate these larger modules, which generate more power and necessitate enhancements in all other associated equipment. The demand for high-capacity string inverters, ranging from 250 kW to 350 kW, has surged to meet these design requirements. The recent Mercom India webinar, “Cutting Edge PV Inverters: Optimizing Generation from Advanced Technology Modules,” highlighted the pivotal role that PV inverters play in maximizing energy generation from advanced technology modules in the Indian solar market.</p>
<p><a href="https://www.mercomindia.com/soltec-power-holdings-gains-losses-drop-by-50" target="_blank" rel="noopener"><strong>Solar tracker manufacturer Soltec Power Holdings recorded a net loss of €4.8 million (~$5.05 million) during Q2 2023, a YoY improvement of 50% from a net loss of €9.6 million (~$10.1 million).</strong></a> During the April to June quarter, the consolidated revenues stood at €107.8 million (~$113.5 million), a YoY increase of 40%, and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) recorded a loss of €5.6 million (~$5.8 million), a 21.7% YoY improvement. In Q2, revenues from the industrial division amounted to €103.5 million (~$109 million).</p>


Daily News Wrap-Up: Maharashtra Invites Bids to Procure 1.92 GW of Solar 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/2023/09/amazon_polly_59061.mp3?version=1695907181">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>MSEB Agro Solar Power, a wholly-owned subsidiary of <a href="https://www.msebindia.com/en/home/" target="_blank" rel="noopener">MSEB Holding Company</a>, has floated nine tenders to procure 1.92 GW of solar power under the Mukhyamantri Saur Krushi Vahini Yojana in Maharashtra.</p>
<p>The tenders have been floated for 197.78 MW in Akola, 289.38 MW in Jalgaon, 116.65 MW in Jalna, 230.49 MW in Pune, 230.72 MW in Ahmednagar, 147 MW in Buldhana, 289.76 MW in the Nashik, 153.29 MW in the Washim, and 265.05 MW in the Nanded districts of Maharashtra.</p>
<p>The last date to submit the bids for all the tenders is November 20, 2023. Bids will be opened on the same day.</p>
<p>Bidders must submit ₹100,000 (~$1,201)/MW of the quoted capacity as the earnest money deposit.</p>
<p>The successful bidder must furnish an amount equivalent to ₹500,000 (~$6,007)/MW of the quoted capacity as a performance bank guarantee.</p>
<p>The selected developer must ensure that the project special purpose vehicle (SPV) signs the power purchase agreement (PPA) with the Maharashtra State Electricity Distribution Company (<a href="https://www.mahadiscom.in/en/home/" target="_blank" rel="noopener">MSEDCL</a>) within 15 days from the letter of award.</p>
<p>The project must be commissioned within 12 months from the PPA signing date.</p>
<p>The evacuation of power up to the delivery point and energy accounting infrastructure will be the responsibility of the successful bidder.</p>
<p>Bidders should have previously commissioned at least 250 MW of solar capacity.</p>
<p>The net worth of bidders during the last three financial years should be at least ₹10 million (~$120,130).</p>
<p>A foreign investment fund may qualify on the basis of assets under management of at least ₹10 billion (~$120.13 million).</p>
<p>The minimum annual turnover of bidders should be at least ₹2.5 million (~$30,033)/MW of the base capacity during the last financial year.</p>
<p>Bidders should have an internal resource generation capability in the form of profit before depreciation, interest, and taxes for an amount that should be calculated at the rate of ₹1 million (~$12,013)/MW of the quoted capacity as of the last date of the previous financial year.</p>
<p>MSEB has mandated the use of solar modules from the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy.</p>
<p>The declared capacity utilization factor (CUF) should, in no case, be less than 19% over a year. The solar power generator will be allowed to achieve a CUF of 15% for certain units that are part of the project, provided that the CUF of the project will remain at 19% over any contract year.</p>
<p>MSEB Agro Solar Power recently <a href="https://www.mercomindia.com/maharashtra-tenders-procuring-977-mw-solar-power" target="_blank" rel="noopener">floated</a> five tenders to procure 977.72 MW of solar power under the Mukhyamantri Saur Krushi Vahini Yojana in Maharashtra.</p>
<p>Earlier, Maharashtra State Electricity Distribution Company had <a href="https://www.mercomindia.com/msedcl-invites-615-mw-across-maharashtra" target="_blank" rel="noopener">issued</a> multiple tenders to develop solar projects of 615 MW in aggregate capacity split into four different regions of the state.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of real-time tender activity.</p>


Maharashtra Floats Tenders to Procure 1.92 GW of Solar Power

mseb-agro

Get the most relevant India solar and clean energy news.

RECENT POSTS