CMPDI Invites Bids for 10 MW Solar Project at Mahanadi Coalfields

RERC Upholds Penalty for Failure to Comply with Renewable Energy Regulations

Hyundai to Source 118 MW Power from Fourth Partner’s Solar and Wind Projects

India Adds an Unprecedented 16 GW Solar Capacity in 9M 2024

Daily News Wrap-Up: UPNEDA Tenders 2 MW Rooftop Solar Projects

Maxeon Solar Modules Detained by US Customs Authority

Sungrow, TBEA, FIMER Dominate Solar Inverter Rankings in First Half of 2024

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

MNRE Sets Terms for Real Estate Developers to Avail CFA Under PM Surya Ghar

ENGIE to Build 22 MW Solar Project for Saudi Cement Factory

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					</table>The Indian Energy Exchange (<a href="https://www.iexindia.com/" target="_blank" rel="noopener">IEX</a>) traded 872 MU (million units) of green energy in October 2024, a 364% year-over-year (YoY) increase from 188 MU.
The Green Day-Ahead Market achieved a volume of 829 MU in October 2024 with an average price of ₹3.60 (~$0.04)/kWh, an increase of 358% compared to 181 MU in the same month in 2023.
The Green Term-Ahead Market achieved a volume of 43 MU in October 2024 with an average monthly price of ₹3.49 (~$0.04)/kWh for solar, ₹8.02 (~$0.09)/kWh for non-solar, and ₹5.03 (~$0.05)/kWh for hydro, compared to 7 MU in October 2023, an increase of 498% YoY.
The IEX traded 9,642 MU (million units) of electricity in October, a 4% YoY increase. IEX also traded 444,000 renewable energy certificates (RECs), a 105% YoY rise.
India’s energy consumption reached 140.4 billion units, a 1% increase from the previous year. The market clearing price in the Day-Ahead Market was ₹3.92 (~$0.04)/kWh, a decline of 39% YoY. The market clearing price was ₹3.77 (~$0.04)/kWh in the Real-Time Market, a 38% YoY fall, in October.
Electricity Market: Day-Ahead, Real-Time Market &amp; Term-Ahead
The Day-Ahead Market achieved 4,388 MU volume in October 2024 compared to 4,742 MU volume last year, a decline of 7%.
The Real-Time Electricity Market achieved a monthly volume of 3,123, compared to 2,402 MU in October 2023, an increase of 30%.
The Day-Ahead Contingency and Term-Ahead Market, traded 1,260 MU in October 2024, compared to 1,911 MU in October 2023, a decline of 34% YoY. 
Renewable Energy Certificates
A total of 444,000 RECs, were traded in the trading sessions held on October 9 and 30, 2024, at a clearing price of ₹110 (~$1.30)/REC and ₹120 (~$1.42)/REC, respectively.
The next REC trading sessions at the Exchange are scheduled for November 13, 2024, and November 27, 2024.
IEX <a href="https://www.mercomindia.com/green-trade-iex-september-2024" target="_blank" rel="noopener">traded</a> 723 MU of green energy in September 2024, a 214% YoY increase from 230 MU.
The Exchange <a href="https://www.mercomindia.com/iex-reports-25-jump-trades-36-7-bu-of-energy" target="_blank" rel="noopener">reported</a> a consolidated revenue of ₹1.68 billion (~$20.1 million), an increase of 26.2% YoY in the second quarter of the financial year 2025.

Green Energy Trade on IEX Up 364% YoY in October 2024

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					</table>State power distribution companies (DISCOMs) owed power generators ₹623.9 billion (~$ 7.41 billion) in total dues for the monthly billing cycle in October 2024, according to the <a href="https://powermin.gov.in/" target="_blank" rel="noopener">Ministry of Power</a>’s payment ratification and analysis portal <a href="https://praapti.in/" target="_blank" rel="noopener">PRAAPTI</a>.
The DISCOMs <a href="https://www.mercomindia.com/discoms-dues-power-generators-in-september">owed</a> power generators ₹845.5 billion (~$10 billion) in September.
The current outstanding dues, excluding the latest monthly dues of ₹346.22 billion (~$4.11 billion), are ₹277.68 billion (~$3.3 billion).
The overdue before the trigger date is ₹275.23 billion (~$3.27 billion), after which the amount will increase by ₹2.45 billion (~$29.12 million) as the late payment surcharge (LPS) would apply.
The trigger date is one month after the payment due date or two and a half months after the generating company presents the bill, whichever is later.
The DISCOMs are allowed to pay the outstanding amount in up to 48 installments.
For the second consecutive month, Uttar Pradesh DISCOMs had the highest dues at ₹91.67 billion (~$1.08 billion), followed by Maharashtra at ₹76.32 billion (~$907.26 million) and Tamil Nadu ₹66.64 billion (~$792.18 million).
The Ministry of Power <a href="https://www.mercomindia.com/rules-strengthen-discoms-financial-disclosure" target="_blank" rel="noopener">issued</a> the Electricity Distribution (Accounts and Additional Disclosure) Rules, 2024, to enhance transparency in financial disclosures and bolster regulatory compliance for DISCOMs. The rules aim to ensure that entities are financially safeguarded against long-term defaults by mandating provisions for receivables and enforcing the reporting of trade receivable days.
The twelfth annual integrated ratings of DISCOMs <a href="https://www.mercomindia.com/gujarat-discoms-top-annual-ratings" target="_blank" rel="noopener">recorded</a> significant financial and operational performance shifts. Of the 55 DISCOMs evaluated for the financial year 2023, 17  improved their grades, while 14 were downgraded.
Fourteen DISCOMs achieved an A+ grade compared to 10 last year. Six of these top DISCOMs are from Gujarat, three from Odisha, and two from Haryana. Eight of these top performers are privately owned companies.
Last December, the Ministry of Power <a href="https://www.mercomindia.com/ministry-to-regulate-discoms-failing-to-clear-dues/" target="_blank" rel="noopener">proposed</a> amending the Electricity (Late Payment Surcharge and Related Matters) Rules 2023 to regulate short-term and general network access for DISCOMs that fail to clear their dues after two and a half months.

DISCOMs’ Dues to Power Generators Dip to ₹624 Billion in October

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					</table>The Solar Energy Corporation of India (<a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>) paid solar and wind power producers ₹10 billion (~$119.9 million) for the energy purchased in October 2023. The payment reflected a <a href="https://www.mercomindia.com/seci-disbursements-september-2023/" target="_blank" rel="noopener">decline </a>of 23% from the September disbursements.
The disbursements <a href="https://www.mercomindia.com/seci-payment-down-8-billion-october" target="_blank" rel="noopener">increased</a> by 24% on a year-over-year basis.
In October, disbursements to solar and wind developers constituted 67.7% of the total payments. The nodal agency disbursed a total of ₹14.8 billion (~$177.1 million) during the month.
SECI released ₹2.3 billion (~$27.3 million) towards subsidy under the Solar Park Program. Gujarat State Electricity Corporation, NTPC Renewable Energy, and Rajasthan Solar Park Development Company received subsidies under the program.
It also released ₹1.4 billion (~$16.7 million) towards subsidy under the Central Public Sector Undertaking Program, Phase II. NTPC was the sole beneficiary of the subsidy released under the program.
The nodal agency also refunded liquidated damage charges to the tune of ₹408.6 million (~$4.9 million) during the month.
The agency released ₹345.1 million (~$4.1 million) as a subsidy under the Viability Gap Funding Program.
SECI refunded ₹185.5 million (~$2.2 million) of excess money received.
The nodal agency reimbursed ₹114.6 million (~$1.4 million) to solar power developers against goods and services tax and safeguard duty claims under the annuity method.
Azure Power India, SB Energy Four, SBG Cleantech Projecto Five, Clean Solar (Bhadla), and Azure Power Forty-Three were among the recipients who received the highest reimbursements for GST and Safeguard Duty claims.
During the month, SECI disbursed ₹32.3 million (~$387,549) towards transmission charges.
In all, ₹13.4 million (~$161,051) was disbursed to contractors and service providers.
SECI also reimbursed ₹1.24 million (~$14,924) to solar power developers against basic custom duty under the annuity method.
Recently, SECI <a href="https://www.mercomindia.com/seci-capital-credit-facility-6-billion" target="_blank" rel="noopener">invited</a> quotations for a short-term working capital credit facility of up to ₹6 billion (~$72.3 million) to help it make monthly payments to solar, wind, and hybrid energy projects.
SECI <a href="https://www.mercomindia.com/seci-revenue-power-trading-100-billion" target="_blank" rel="noopener">earned</a> over ₹100 billion (~$1.22 billion) in revenues from trading renewable power in the financial year 2022-23, the highest ever since its inception.

SECI Releases ₹2.3 Billion Subsidy Under Solar Park Program in October 2023

The Solar Energy Corporation of India (<a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>) disbursed ₹5.21 billion (~$68.9 million) to solar and wind developers for the power purchased in October 2021. The disbursed amount accounted for 96% of the total amount paid by the nodal agency in October 2021.
In October, the total amount disbursed by the agency was ₹5.42 billion (~$71.7 million), which included solar and wind purchases, developers’ reimbursements, duties, and other reimbursements.
Clean Solar (Bhadla), Wardha Solar (Maharashtra), SB Energy One, Sprng Renewable Energy, and ReNew Wind Energy (AP2) were the main beneficiaries of the payments.
The monthly payments by SECI is a significant relief for renewable developers who have been burdened by the erratic ways of the distribution companies (DISCOMs) when it comes to payments of dues.
According to data released by the Ministry of Power, the DISCOMs <a href="https://mercomindia.com/discom-dues-renewable-generators-rise/" target="_blank" rel="noopener">owed</a> ₹200.85 billion (~$2.67 billion) to renewable energy generators (excluding disputed amounts) in overdue payments at the end of November 2021. The figure reported for November was marginally higher than ₹197.12 billion (~$2.61 billion) at the end of <a href="https://mercomindia.com/discom-dues-renewable-energy-generators-up-27-october/" target="_blank" rel="noopener">October</a>.
Under the annuity method, SECI reimbursed ₹101.64 million (~$1.34 million)  to solar power developers against Goods and Services Tax (GST) and Safeguard Duty claims.
The nodal agency released ₹38 million (~$501,543) as subsidy under the rooftop program and ₹31 million (~$409,154) towards transmission charges.
Sukhbir Agro, ZIVAH International, and Centaurus Green Energy availed the maximum amounts under the rooftop solar program.
The agency released ₹37.7 million (~$497,583) as payments to contractors and service providers and ₹627,400 (~$8,280) as subsidy under the viability gap funding program.
The agency had <a href="https://mercomindia.com/seci-disbursed-%e2%82%b96-13-billion-solar-wind-power-september/" target="_blank" rel="noopener">disbursed</a> ₹6.13 billion (~$81.8 million) to solar and wind developers for the power purchased in September. The disbursed amount accounted for 97% of the total amount paid by the agency in September.
In August this year, the Central Electricity Regulatory Commission <a href="https://mercomindia.com/discount-rate-annuity-payments-solar/" target="_blank" rel="noopener">reiterated</a> SECI’s proposal for a 10.41% discount rate on annuity payments towards the additional expenses incurred by solar power developers on account of ‘Change in Law’ events. The central regulator directed solar power developers to pay all statutory taxes, duties, levies, and cess on monthly annuity payments as per the terms of power purchase agreements.

SECI Releases Payments of ₹5.21 Billion for Solar and Wind Power Purchased in October

Germany added 421 MW of solar photovoltaic installations in October 2020, a 12% increase compared to 376 MW added in October 2019, according to the latest data from Federal Network Agency <a href="https://www.bundesnetzagentur.de/EN/Home/home_node.html" target="_blank" rel="noopener noreferrer">Bundesnetzagentur</a>. The country had installed 387 MW the previous month.
As per the data released by the federal agency, cumulative solar installations in the country stood at 53.18 GW at the end of October 2020. In August 2020, Germany added around 400 MW of solar capacity, a 6.32% decrease compared to 427 MW of additions in July 2020.
<a href="https://mercomindia.com/wp-content/uploads/2020/12/Picture1.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-22988" src="https://mercomindia.com/wp-content/uploads/2020/12/Picture1.png" alt="" width="440" height="277" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2020/12/Picture1.png 440w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2020/12/Picture1-300x189.png 300w" sizes="(max-width: 440px) 100vw, 440px" /></a>
Germany had <a href="https://mercomindia.com/germanys-solar-installations-up-third-quarter/">added</a> around 1.22 GW of new solar photovoltaic installations in the third quarter (Q3) of 2020, a 34% increase from the same quarter last year, according to the latest data from the federal agency.
Despite the COVID-19 pandemic, Germany added approximately 3.5 GW of solar capacity in the first nine months (9M) of 2020, a 17% increase compared to the 2.98 GW of installations in 9M 2019.
Germany installed a total capacity of 3.3 GW in 2013, 1.9 GW in 2014, 1.5 GW in 2016, 1.75 GW in 2017, and 3 GW in 2018. Total solar installations in 2019 reached 3.9 GW.
Recently, Bundesnetzagentur <a href="https://mercomindia.com/no-takers-for-wind-in-germany/" target="_blank" rel="noopener noreferrer">revealed</a> that solar bids won the full capacity in the latest 202 MW wind and solar auction in Germany. The tender was oversubscribed by 518 MW, and there was not a single bid for wind projects.
In October 2020, Bundesnetzagentur <a href="https://mercomindia.com/germany-solar-tender-oversubscribed/" target="_blank" rel="noopener noreferrer">announced</a> that its tender for 96.4 MW was oversubscribed and received 87 bids for about 393.3 MW of solar projects. The agency would award a total of 30 bids for about 103.1 MW of projects. Bids for these projects ranged between €0.049 (~$0.058)/kWh and 0.054 (~$0.063)/kWh.
Mercom earlier <a href="https://mercomindia.com/germany-new-climate-action-plan/" target="_blank" rel="noopener noreferrer">reported</a> that the German government announced its plans to enhance the country’s total solar capacity from the current 52 GW to 83 GW in 2026 and 100 GW in 2030. The country also intends to expand its onshore wind project’s cumulative capacity from the current 54 GW to 65 GW in 2026 and 71 GW in 2030.

Germany’s Solar Installations up 12% With 421 MW of Solar Added in October 2020

The <a href="https://www.india.gov.in/website-ministry-new-and-renewable-energy" target="_blank" rel="noopener noreferrer">Ministry of New and Renewable Energy</a> (MNRE) has postponed the date for the third edition of global Renewable Energy Investors’ (<a href="https://re-invest.in/" target="_blank" rel="noopener noreferrer">RE-INVEST</a>) meet and expo to be held in the national capital New Delhi. According to the new circular issued by the MNRE, the event will be held from October 31 to November 2, 2019.
The event was earlier <a href="https://mercomindia.com/mnre-hold-third-edition-re-invest-october-2019/" target="_blank" rel="noopener noreferrer">slated</a> to be held from 3-5 October 2019.
“All stakeholders in the Renewable Energy domain, i.e., industry, developers, independent power 
producers, investors, financing institutions, academia, and research communities are 
requested to block their dates and participate in the event,” said the circular.
More details about the event, which is also commonly known as RE-INVEST, are likely to be made available at a later stage.
Last year, the MNRE had postponed the second edition of RE-INVEST 2018 from April to October. It was held from 3-5 <a href="https://re-invest.in/" target="_blank" rel="noopener noreferrer">October</a> 2018 at Greater Noida. During the same event, the first assembly of International Solar Alliance (ISA) and the second meeting of Indian Ocean Rim Association (IORA) Renewable Energy Ministers were also hosted.
The <a href="https://mercomindia.com/oil-wells-today-solar-tomorrow-modi/" target="_blank" rel="noopener noreferrer">ISA</a> is an Indian initiative that was jointly launched by the PM Modi and the president of France on November 30, 2015, in Paris, on the sidelines of COP-21, the UN Climate Conference.
<a href="https://mercomindia.com/oil-wells-today-solar-tomorrow-modi/" target="_blank" rel="noopener noreferrer">Last year,</a> Mercom had reported on the inauguration of the second edition of <a href="https://re-invest.in/" target="_blank" rel="noopener noreferrer">Global RE-Invest</a> on October 2, 2018, in the presence of Prime Minister Narendra Modi, the Secretary-General of the United Nations Antonio Guterres, External Affairs Minister Sushma Swaraj, and Minister of Power R.K. Singh.
Speaking at last year’s inaugural ceremony, PM Modi underpinned the importance of solar by his slogan, ‘One World, One Sun, One Grid.’
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