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ReNew’s Revenue, Profit Up in Q2 FY25 as Commissioned Renewable Capacity Grows

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ENGIE to Build 22 MW Solar Project for Saudi Cement Factory

UPNEDA Invites Bids for 2 MW Rooftop Solar Projects on Government Buildings

ANERT Tenders 1 MW Solar Project at Kerala University of Health Sciences


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					</table><p><a href="https://ngel.in/ngel-home" target="_blank" rel="noopener">NTPC Green Energy</a> has received approval from the Securities and Exchange Board of India (<a href="https://www.sebi.gov.in/" target="_blank" rel="noopener">SEBI</a>) to float its initial public offering (IPO) of equity shares.</p>
<p>The company <a href="https://www.mercomindia.com/ntpc-green-energy-to-raise-1-19-billion-via-initial-public-offering" target="_blank" rel="noopener">filed</a> the draft IPO papers with SEBI on September 20, 2024.</p>
<p>The IPO will comprise a fresh issue of up to 10,000 equity shares of face value of ₹10 (~$0.12) each aggregating up to ₹100 billion (~$1.18 billion). There is no offer for sale in this IPO.</p>
<p>The net proceeds will be invested in NTPC Renewable Energy (<a href="https://ntpcrel.co.in/" target="_blank" rel="noopener">NREL</a>) to repay, in whole or part, the company’s outstanding borrowings availed by NREL, amounting to ₹75 billion (~895.78 million). The remaining ₹25 million (~$298.59 million) will be used for general corporate purposes, including funding of strategic initiatives, partnerships, joint ventures and acquisitions, capital expenditure, interest payment, and business development initiatives.</p>
<p><a href="https://idbicapital.com/index.asp" target="_blank" rel="noopener">IDBI Capital Markets &amp; Securities</a>, <a href="https://www.hdfcbank.com/" target="_blank" rel="noopener">HDFC Bank</a>, <a href="https://www.iiflsecurities.com/" target="_blank" rel="noopener">IIFL Securities</a>, and <a href="https://www.nuvamawealth.com/" target="_blank" rel="noopener">Nuvama Wealth Management</a> are the book-running lead managers for the issue.</p>
<p>In the first quarter of the financial year 2025, NTPC Green earned ₹5.58 billion (~$66.64 million) from renewable energy sales.</p>
<p>The company has solar and wind projects in more than six states in India. As of August 31, 2024, the operational capacity for solar projects was 3,701 MW, and for wind projects, it was 100 MW.</p>
<p>Suzlon Group, a renewable energy solutions provider, <a href="https://www.mercomindia.com/suzlon-wind-turbine-order-ntpc-green" target="_blank" rel="noopener">secured</a> a 1,166 MW order from NTPC Green Energy to install 370 wind turbine generators of the S144 model, each with a rated capacity of 3.15 MW, in September 2024. These turbines will be deployed across two NTPC renewable energy projects and one Indian Oil-NTPC Green Energy project in Gujarat.</p>
<p>In April, NTPC Green Energy <a href="https://www.mercomindia.com/ntpc-green-gets-sebis-nod-for-%E2%82%B9100-billion-ipo" target="_blank" rel="noopener">invited</a> bids from qualified coordinating agencies to provide all forecasting and scheduling-related services for the 130 MW Bhadla Solar power project.</p>


NTPC Green Gets SEBI’s Nod for ₹100 Billion IPO


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					</table><p><a href="https://ntpc.co.in/" target="_blank" rel="noopener">NTPC</a> has invited bids to prepare a detailed project report (DPR) for an 800 MW pumped hydro storage project, Amba PSP, in Maharashtra.</p>
<p>The last date to submit the bids is November 16, 2024. Bids will be opened the same day.</p>
<p>The scope of work covers preparing a bankable DPR of international standards for maximum annual power generation with a competitive tariff considering economical water usage and overall cost.</p>
<p>Bidders must pay a bid security of ₹5 million (~$59,747).</p>
<p>Any bidder from a country that shares a land border with India will be eligible to bid in this tender.</p>
<p>Bidders should have experience completing the DPR of at least one hydroelectric/ pumped hydro storage project of at least 100 MW in the last fifteen years.</p>
<p>The average annual turnover of the bidders in the preceding three financial years as of the bid opening date must be at least ₹189.7 million (~$2.25 million).</p>
<p>As of the last day of the preceding financial year, their net worth should be at least 100% of their paid-up share capital.</p>
<p>If bidders do not satisfy the net worth criteria, they can meet the requirement based on the strength of their subsidiaries or holding companies.</p>
<p>For funding, NTPC may approach international funding agencies like the World Bank, JICA, ADB, and JBIC. The DPR should include all studies, analyses, and reports that such agencies usually require.</p>
<p>Last year, <a href="https://ngel.in/ngel-home" target="_blank" rel="noopener">NTPC Green Energy</a>, a subsidiary of NTPC, <a href="https://www.mercomindia.com/ntpc-bids-2-gw-pumped-hydro-storage-projects" target="_blank" rel="noopener">invited</a> bids for developing pumped hydro energy storage projects of up to 2,000 MW capacity across India.</p>
<p>The Central Electricity Authority recently <a href="https://www.mercomindia.com/cea-approves-2500-mw-projects-in-maharashtra" target="_blank" rel="noopener">approved</a> two pumped hydro storage projects in Maharashtra with a total capacity of 2,500 MW. The two projects are the 1,500 MW Bhavali project to be developed by JSW Energy and the 1,000 MW Bhivpuri project by Tata Power.</p>


NTPC Invites Bids to Prepare DPR for 800 MW Pumped Hydro Storage Project


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					</table><p>Renewable energy solutions provider <a href="https://www.suzlon.com/" target="_blank" rel="noopener">Suzlon Group</a> has secured a 1,166 MW order from <a href="https://ngel.in/" target="_blank" rel="noopener">NTPC Green Energy</a> to install 370 wind turbine generators of the S144 model, each with a rated capacity of 3.15 MW.</p>
<p>These turbines will be deployed across two NTPC Renewable Energy projects and one Indian Oil NTPC Green Energy project in Gujarat. The turbines will feature a hybrid lattice tubular tower design.</p>
<p>The electricity generated will power over three million households.</p>
<p>This win takes Suzlon&#8217;s cumulative order book close to 5 GW as of September 3, 2024.</p>
<p>&#8220;We are delighted to partner with NTPC Green Energy, the renewables arm of India&#8217;s largest utility, NTPC, in our capacity as the nation&#8217;s premier Wind Energy OEM. This landmark collaboration reaffirms our commitment to accelerating India&#8217;s renewable energy transition. Notably, this marks our first direct wind energy order from NTPC Green Energy, signaling Suzlon&#8217;s triumphant return to the PSU customer segment,&#8221; said Girish Tanti, Vice Chairman of Suzlon Group.</p>
<p>As part of the agreement, Suzlon will provide the wind turbines, manage the project&#8217;s execution—including erection and commissioning—and offer operations and maintenance services once the project is operational.</p>
<p>Suzlon Energy recently <a href="https://www.mercomindia.com/suzlon-acquires-majority-renom-energy-services/" target="_blank" rel="noopener">acquired</a> a 76% stake in Renom Energy Services, a multi-brand renewable energy operations and maintenance service company. The acquisition will be completed in two tranches, with Suzlon initially acquiring a 51% stake for ₹4 billion (~$47.6 million), followed by an additional 25% stake within 18 months for ₹2.6 billion (~$30.9 million).</p>
<p>Suzlon <a href="https://www.mercomindia.com/suzlons-q1-2025-net-profit" target="_blank" rel="noopener">recorded</a> net revenue of ₹20.16 billion (~$241.02 million) during the first quarter of the financial year 2025, a year-over-year increase of 50% compared to ₹13.48 billion (~$161.16 million).</p>
<p>Last October, Suzlon<a href="https://mercomindia.com/wind-turbine-suzlons-%e2%82%b92-4-billion-issue-oversubscribed/" target="_blank" rel="noopener"> announced</a> raising ₹12 billion (~$146.4 million) through a rights issue of 2.4 billion partly paid-up equity shares.</p>


Suzlon Secures 1,166 MW Wind Turbine Order from NTPC Green Energy


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					</table><p><a href="https://www.mercomindia.com/ev-sales-sustain-growth-momentum-q1-2024/" target="_blank" rel="noopener"><strong>Electric vehicle (EV) sales in India reached a record 486,669 units in the first quarter (Q1) of 2024, a jump of over 40% year-over-year against the 347,676 units sold in the same period of 2023.</strong></a> The EV market consistently exceeded the 100,000-unit threshold each month during the quarter, and March witnessed the highest-ever monthly sales figure of 204,337 units. EVs account for 7.9% of overall automobile sales, which totaled 6,157,070 units in Q1 2024.</p>
<p><a href="https://www.mercomindia.com/luminous-solar-facility-uttarakhand/" target="_blank" rel="noopener"><strong>Luminous Power Technologies inaugurated a 250 MW solar module manufacturing facility in Rudrapur, Uttarakhand.</strong></a> The fully automated 10-acre plant built with an initial investment of ₹1.2 billion (~$14.4 million) is expandable up to 1 GW capacity, the company said. The launch marks a strategic shift for Luminous from being just a maker of solar inverters and batteries to now manufacturing solar modules. The company also claims to be the only Indian firm that can design and build complete solar power generation systems. Luminous aims to double its growth in three years.</p>
<p><a href="https://www.mercomindia.com/ntpc-green-scheduling-of-130-mw-solar-project/" target="_blank" rel="noopener"><strong>NTPC Green Energy (NGEL) has invited bids from qualified coordinating agencies to provide all forecasting and scheduling-related services for the 130 MW Bhadla Solar power project.</strong></a> The last date for submitting bids is April 4, 2024. Bids will be opened the next day. Bidders will be responsible for ensuring comprehensive project data collection, utilizing information provided by NGEL, and gathering any additional necessary data daily. Bidders are tasked with forecasting and scheduling duties, which encompass providing detailed forecasting data in 15-minute increments, timely submission of day-ahead schedules, and intra-day forecasting revisions.</p>
<p><strong><a href="https://www.mercomindia.com/ntpc-50-mw-concentrated-solar-project" target="_blank" rel="noopener">NTPC has invited expressions of interest from bidders to set up a 50 MW interstate transmission system-connected concentrated solar power project with a thermal energy storage</a></strong> system operational for eight hours during peak and non-solar hours on a build-own-operate basis. The bids are open to Indian and global companies or their consortium, affiliates, and representatives.</p>
<p><a href="https://www.mercomindia.com/gic-sterlite-jv/" target="_blank" rel="noopener"><strong>In a bid to expand India’s power transmission network, Sterlite Power, a transmission developer, and Singapore-based GIC, an investment firm, have announced the creation of a joint venture (JV).</strong></a> The JV will focus on developing and operating power transmission projects across the country to meet the rapidly growing demand for energy evacuation. Under the agreement, Sterlite Power will hold a 51% majority stake in the new company, while GIC will own the remaining 49%.</p>
<p><a href="https://www.mercomindia.com/zetwerk-fast-chargers-indian-oil/" target="_blank" rel="noopener"><strong>Bengaluru-based Zetwerk, an industrial and consumer infrastructure firm, has won a contract to set up over 1,400 EV fast chargers for Indian Oil Corporation (IOCL) across the country.</strong></a>The fast chargers, with capacities ranging from 50-60 kW and 100-120 kW, will be capable of simultaneously charging two EVs using dynamic load-sharing technology. These DC dual gun Combined Charging System 2 DC chargers will be installed in major cities and key highways to enhance accessibility and convenience for EV drivers, the company said.</p>


Daily News Wrap-Up: Electric Vehicle Sales Up 40% YoY in Q1 2024


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					</table><p>India installed 2.8 GW of new wind energy capacity in 2023, a ~56% surge from 1.8 GW in 2022. The cumulative wind capacity as of December 2023 stood at 44.7 GW, compared to 41.9 GW at the end of 2022.</p>
<p>In the fourth quarter (Q4) of 2023, India added 552 MW of wind power capacity, representing a 141% year-over-year (YoY) increase, according to <a href="https://www.mercomindia.com/research" target="_blank" rel="noopener">Mercom India Research</a>. Installations in Q4 surged by 34% quarter-over-quarter.</p>
<p>The Ministry of New and Renewable Energy (MNRE) has included wind power in the Renewable Power Purchase Obligation (RPO) trajectory, with an eye on driving wind installations higher.</p>
<p>The increased demand for round-the-clock renewable energy has led to a rise in wind-solar hybrid projects across the country.</p>
<p>In Q4 2023, Gujarat and Tamil Nadu witnessed considerable growth in solar-wind hybrid renewable energy projects due to favorable policies and easier access to land as compared to other states in the country.</p>
<p>Apart from utility-scale installations, group captive hybrid power projects are also gaining pace in these states due to C&amp;I consumers&#8217; interest in procuring green power for longer durations.</p>
<p>&nbsp;</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-64292 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Screenshot-2024-03-13-103354.png" alt="India Wind Power Installations by Year" width="750" height="499" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Screenshot-2024-03-13-103354.png 750w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Screenshot-2024-03-13-103354-300x200.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Screenshot-2024-03-13-103354-650x432.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Screenshot-2024-03-13-103354-624x415.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Screenshot-2024-03-13-103354-600x399.png 600w" sizes="(max-width: 750px) 100vw, 750px" /></p>
<p>&nbsp;</p>
<p>Notable projects commissioned during the quarter were <a href="https://continuumenergy.in/" target="_blank" rel="noopener">Continuum</a>&#8216;s 67.5 MW wind-solar hybrid project in Tamil Nadu, JSW Renew Energy&#8217;s 51 MW of the Solar Energy Corporation of India&#8217;s (<a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>) Tranche IX project in Tamil Nadu, and <a href="https://ntpcrel.co.in/" target="_blank" rel="noopener">NTPC Renewable Energy</a>&#8216;s 50 MW of Phase-I Dayapar Wind Energy Project in Gujarat.</p>
<p>&nbsp;</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-64293 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Screenshot-2024-03-13-103117.png" alt="India Cumulative Wind Installations by State" width="730" height="487" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Screenshot-2024-03-13-103117.png 730w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Screenshot-2024-03-13-103117-300x200.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Screenshot-2024-03-13-103117-650x434.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Screenshot-2024-03-13-103117-624x416.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Screenshot-2024-03-13-103117-600x400.png 600w" sizes="(max-width: 730px) 100vw, 730px" /></p>
<p>Gujarat led the states for cumulative wind installations, accounting for 25.1% of the country&#8217;s total capacity. Tamil Nadu came next with 23.3%.</p>
<p>At the end of Q4, Karnataka had the third highest installations, representing 12.5% of the total wind capacity, and Rajasthan ranked fourth with 11.6%.</p>
<p>Maharashtra was fifth, accounting for 11.5% of the installed wind capacity during the quarter, followed by Andhra Pradesh (9.2%) and Madhya Pradesh (6.4%).</p>
<p>In December 2023, MNRE <a href="https://www.mercomindia.com/mnre-unveils-revised-wind-power-projects" target="_blank" rel="noopener">revised</a> its 2016 policy for repowering wind power projects to facilitate the replacement of older turbines.</p>
<p>Around the same time, the Ministry of External Affairs also <a href="https://www.mercomindia.com/rules-leasing-offshore-wind-sites" target="_blank" rel="noopener">issued</a> the Offshore Wind Energy Lease Rules 2023, notifying that leased areas for offshore wind energy projects will be valid for an initial three-year period for conducting resource measurements and surveys.</p>
<p>In a bid to harness the potential of offshore wind energy, Finance Minister Nirmala Sitharaman, in her Budget 2024 speech, <a href="https://www.mercomindia.com/budget-2024-free-electricity-rooftop-solar-vgf-offshore-wind" target="_blank" rel="noopener">announced</a> viability gap funding for offshore wind projects with a cumulative capacity of 1 GW. This financial support is expected to propel the development of offshore wind projects, contributing to India&#8217;s renewable energy goals.</p>
<p>Recently, SECI, on behalf of the National Institute of Wind Energy, <a href="https://www.mercomindia.com/seci-invites-offshore-wind-projects-in-tamil-nadu" target="_blank" rel="noopener">invited</a> bids for the allocation of sea-bed lease rights for 4 GW offshore wind power projects on a build-own-operate basis.</p>


India Registers 56% Growth in Wind Installations, Adds 2.8 GW in 2023


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					</table><p>NTPC Green Energy (NGEL), on behalf of North Eastern Electric Power Corporation (<a href="https://neepco.co.in/hi" target="_blank" rel="noopener">NEEPCO</a>), a wholly-owned subsidiary of <a href="https://www.ntpc.co.in/" target="_blank" rel="noopener">NTPC</a>, has invited bids for the engineering, procurement, and construction (EPC) package with land for up to 300 MW of inter-state transmission system (ISTS)-connected solar power projects anywhere in India.</p>
<p>The scope of work includes identification, acquisition, and complete transfer of ownership or lease of encumbrance-free land to NEEPCO. The developer must also identify and arrange grid connectivity to the ISTS substation.</p>
<p>The developer will also be responsible for all the EPC work of the project, along with performance testing for guaranteed generation at the interconnection point.</p>
<p>The selected developer must also oversee the projects’ operation and maintenance for three years from the date of commissioning.</p>
<p>The last date to submit the bids is February 27, 2024. Bids will be opened on the same day.</p>
<p>Bidders must pay ₹22,500 (~$270.68) towards the cost of bidding documents.</p>
<p>For a quoted capacity of 100 MW, bidders must submit a bid security amount of ₹50 million (~$601,510); for a quoted capacity of more than 100 MW and up to 200 MW, they must submit ₹100 million (~$1.20 million) and for more than 200 MW and up to 300 MW quoted capacity, they must submit ₹200 million (~$2.41 million) as bid security.</p>
<p>Bidders should have developed or designed, supplied, erected, or supervised the commissioning or commissioned grid-connected solar power projects with a cumulative capacity of 40 MW or higher. Out of this, at least one project should have been of 10 MW or higher capacity at a single location, and it must have been in operation for at least six months before the bid opening date.</p>
<p>Alternatively, they should have executed an industrial project either as a developer or as an EPC contractor in the areas of power, steel, oil and gas, petrochemical, fertilizer, cement, coal mining, or any other process industry in the last ten years. The project should have been of a minimum value of ₹2.4 billion (~$28.87 million) and must have been in operation for at least six months to one year prior to the bid opening date.</p>
<p>The six-month successful operation criteria is valid for projects in the renewable energy (solar or wind) sector. The one-year criteria is for industrial projects other than the renewable energy sector.</p>
<p>The average annual turnover of the bidders should not be less than ₹2.4 billion (~$28.87 million) for any three out of the last five financial years.</p>
<p>The bidders’ net worth as of the last day of the preceding financial year should not be less than 100% of their paid-up share capital.</p>
<p>Recently, NTPC Green Energy, on behalf of Indian Oil NTPC Green Energy, has <a href="https://www.mercomindia.com/ntpc-green-epc-200-mw-solar" target="_blank" rel="noopener">invited</a> bids for the EPC package with land to develop up to 200 MW of ISTS-connected solar projects anywhere in India.</p>
<p>Subscribe to Mercom’s <a href="https://www.mercomindia.com/product/india-solar-tender-tracker" target="_blank" rel="noopener">India Solar Tender Tracker</a> for timely updates on all solar tenders issued by various agencies in India.</p>


NTPC Green Tenders EPC Package with Land for 300 MW Solar Projects


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					</table><p>NTPC Green Energy, on behalf of Indian Oil NTPC Green Energy (INGEL), has invited bids for the engineering, procurement, and construction (EPC) package with land to develop up to 200 MW of inter-state transmission system (ISTS) connected solar projects anywhere in India.</p>
<p>INGEL is a 50:50 joint venture company between <a href="https://iocl.com/" target="_blank" rel="noopener">Indian Oil Corporation</a> and NTPC Green Energy formed to supply 650 MW of renewable power to meet the round-the-clock power requirement of Indian Oil’s new and upcoming projects.</p>
<p>The scope of work includes the operation and maintenance of complete solar projects, including the switchyard and power evacuation system until the interconnecting grid substation, along with consumables and spare parts for three years from the commissioning date.</p>
<p>The EPC contractor must also identify, acquire, and transfer ownership or lease the land in favor of INGEL.</p>
<p>The last day to submit the bids is February 22, 2024. Bids will be opened on the same day.</p>
<p>Bidders must submit ₹50 million (~$601,448) as bid security for 100 MW and ₹100 million (~$1.2 million) for 200 MW.</p>
<p>Bidders must have developed, designed, erected, commissioned, or supervised these activities for a grid-connected solar power project with a cumulative capacity of 40 MW or higher. At least one project must have been of 10 MW or higher capacity. The reference project must have been in operation for at least six months before the bid opening date.</p>
<p>Alternatively, bidders should have executed an industrial project in power, steel, oil and gas, petrochemical, fertilizer, cement, coal mining, coal handling plant and/or any other process industry costing ₹2.4 billion (~$28.8 million).</p>
<p>Bidders must also have executed at least one electrical substation of 33 kV or above voltage as a developer or an EPC contractor, which has been operating for at least the last year.</p>
<p>They must have an average annual turnover of ₹2.4 billion (~$28.8 million) for three of the last five financial years.</p>
<p>The net worth of the bidders as of the last day of the preceding financial year should not be less than 100% of their paid-up share capital.</p>
<p>In October, NTPC Green Energy <a href="https://www.mercomindia.com/ntpc-green-epc-tender-300-mw-solar/" target="_blank" rel="noopener">invited</a> bids for an EPC package with land development for up to 300 MW of ISTS-connected solar projects anywhere in India.</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> for timely updates on all solar tenders issued by various agencies in India.</p>


NTPC Green Energy Issues EPC Tender for 200 MW of Solar Projects


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					</table><p><strong><a href="https://www.mercomindia.com/ntpc-green-epc-tender-300-mw-solar" target="_blank" rel="noopener">NTPC Green Energy invited bids for the engineering, procurement, and construction package with land development for up to 300 MW of inter-state transmission system-connected solar projects anywhere in India.</a></strong> The scope of work includes the operation and maintenance of complete solar projects, including the switchyard and power evacuation system until the interconnecting grid substation, along with consumables and spare parts for three years from the commissioning date. The contractor must also identify, acquire, and transfer ownership or lease the land in favor of NEEPCO. The last day to submit the bids is November 24, 2023. Bids will be opened on the same day.</p>
<p><a href="https://www.mercomindia.com/punjab-additional-surcharge-open-access-consumers" target="_blank" rel="noopener"><strong>The Punjab State Electricity Regulatory Commission set an additional surcharge of ₹1.29 (~$0.015)/kWh for full open access consumers and partial open access consumers beyond their contract demand within the area of supply of the Punjab State Power Corporation.</strong></a> The Commission has also set an additional surcharge of ₹0.92 (~$0.011)/kWh for partial open access consumers to avail power up to their contract demand maintained with the distribution licensee. The additional surcharge will apply to power purchased from April 1, 2023, to September 30, 2023.</p>
<p><a href="https://www.mercomindia.com/tnpl-floats-tender-rooftop-solar-projects" target="_blank" rel="noopener"><strong>Tamil Nadu Newsprint and Papers invited bids for supplying, installing, testing, and commissioning 1.1 MW rooftop solar power projects at its mills in Kagithapuram, Karur Unit-I, and Mondipatti, Trichy Unit-II.</strong></a> The last date for the submission of bids is October 27, 2023. Bids will be opened on the next day. Bidders must pay a non-refundable bidding fee of ₹2,950 (~$35.4). They must also furnish ₹1 million (~$12,011) as an earnest money deposit. The successful bidder must submit a performance bank guarantee amounting to 10% of the contract price within 30 days of signing the contract.</p>
<p><a href="https://www.mercomindia.com/mnre-penalties-flouting-domestic-solar-requirement-norms" target="_blank" rel="noopener"><strong>The Ministry of New and Renewable Energy reiterated that action will be taken against entities for violating the domestic content requirement provisions prescribing the use of domestically manufactured solar cells and modules, wherever permitted by the World Trade Organization.</strong></a> The actions include filing criminal cases under IPC 420 and related sections, blacklisting developers for ten years, forfeiting bank guarantees, and disciplinary proceedings against the officers of the central public sector undertakings or state governments.</p>
<p><a href="https://cms.mercomindia.com/government-to-to-boost-ev-adoption-r-k-singh" target="_blank" rel="noopener"><strong>The government is working on another production-linked incentive for batteries to reduce the cost of storage and boost the adoption of electric vehicles (EVs) in India, Union Minister for Power and New &amp; Renewable Energy R K Singh said.</strong></a> Launching an EV dashboard developed by OMI Foundation, Singh said, “The future is electric. Nobody can stop this. The price of storage will come down, and once that comes down, diesel and petrol SUVs will be history.” The dashboard projects a 45.5% compounded annual growth rate for EVs from 2022 to 2030, with Maharashtra and Delhi taking the lead in charging station deployment.</p>
<p><a href="https://www.mercomindia.com/rooftop-solar-million-equity-investment" target="_blank" rel="noopener"><strong>Hyderabad-based rooftop solar solutions company Freyr Energy secured an equity investment of $7 million, which it said will be used to increase the adoption of solar energy among retail customers in India.</strong></a> The funding round was led by EDFI ElectriFI, a European Union-funded impact investment facility managed by EDFI Management Company, which contributed $3 million to the investment. Several other investors participated in this round, including Schneider Electric Energy Asia Fund, Lotus Capital, Maybright, and VT Capital.</p>
<p><a href="https://www.mercomindia.com/electricity-grids-failing-keep-pace-renewables" target="_blank" rel="noopener"><strong>The world must add or replace 80 million kilometers of electricity grids by 2040, which are equal to all grids globally today to meet national climate targets and support energy security, the International Energy Agency said in a report.</strong></a> The Electricity Grids and Secure Energy Transitions report warned that unless policymakers and companies take swift action to improve and expand the world’s electricity grids,  efforts to tackle climate change and reliable supply of electricity could be put at risk.</p>
<p><strong><a href="https://www.mercomindia.com/nlc-incorporates-subsidiary-renewables-business" target="_blank" rel="noopener">Government-owned mining and power generating company NLC India incorporated a new wholly-owned subsidiary, NLC India Green Energy, to take care of its renewables business.</a></strong> Currently, projects to the tune of 2 GW of renewable energy are under implementation and will be taken up by NIGEL, including a 600 MW solar power project in Gujarat and an 810 MW solar power project in Rajasthan. The company has been registered in Chennai and will begin its operations soon.</p>
<p><a href="https://www.mercomindia.com/mits-design-harness-40-suns-heat-produce-hydrogen" target="_blank" rel="noopener"><strong>Engineers at the Massachusetts Institute of Technology have developed a conceptual design to produce totally green, carbon-free hydrogen fuel with a train-like system of reactors that is driven solely by solar energy.</strong></a> In a study published in Solar Energy Journal, the engineers said the new system efficiently harnesses the sun’s heat to split water and generate hydrogen. The MIT system would be paired with an existing source of solar heat, such as a concentrated solar plant — a circular array of hundreds of mirrors that collect and reflect sunlight to a central receiving tower.</p>


Daily News Wrap-Up: NTPC Green Energy Floats 300 MW Solar EPC Tender


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					</table><p>NTPC Green Energy, on behalf of North Eastern Electric Power Corporation (<a href="https://neepco.co.in/" target="_blank" rel="noopener">NEEPCO</a>), has invited bids for the engineering, procurement, and construction (EPC) package with land development for up to 300 MW of inter-state transmission system (ISTS) connected solar projects anywhere in India.</p>
<p>The scope of work includes the operation and maintenance of complete solar projects, including switchyard and power evacuation system until the interconnecting grid substation, along with consumables and spare parts for three years from the commissioning date.</p>
<p>The EPC contractor must also identify, acquire, and transfer ownership or lease the land in favor of NEEPCO.</p>
<p>The last day to submit the bids is November 24, 2023. Bids will be opened on the same day.</p>
<p>Bidders must submit a bid security amount according to the quoted capacities. For bidders quoting 100 MW, the bid security amount is ₹50 million (~$600,666); for 150 MW to 200 MW, bidders must furnish ₹100 million (~$1.2 million); and for 250 MW to 500 MW, they must furnish ₹200 million (~$2.4 million).</p>
<p>Bidders must have developed, designed, erected, commissioned, or supervised these activities for a grid-connected solar power project with a cumulative capacity of 40 MW or higher. At least one project must have been of 10 MW or higher capacity. The reference project must have been in operation for at least six months before the bid opening date.</p>
<p>Alternatively, bidders should have executed an industrial project in power, steel, oil and gas, petrochemical, fertilizer, cement, coal mining, coal handling plant and/or any other process industry costing ₹2.4 billion (~$28.8 million).</p>
<p>Bidders must also have executed at least one electrical substation of 33 kV or above voltage as a developer or an EPC contractor, which has been operating for at least the last year.</p>
<p>They must have an average annual turnover of ₹2.4 billion (~$28.8 million) for three of the last five financial years.</p>
<p>The net worth of the bidders as of the last day of the preceding financial year should not be less than 100% of their paid-up share capital.</p>
<p>In February, NTPC Renewable Energy <a href="https://www.mercomindia.com/ntpc-subsidiary-issues-epc-tender-for-500-mw-of-solar-projects" target="_blank" rel="noopener">invited</a> bids for the EPC package with land development for 500 MW of ISTS-connected solar projects anywhere in India.</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> for timely updates on all solar tenders issued by various agencies in India.</p>


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