Winning Bid Without VGF Quoted in SECI’s Solar Auction

Winning Bid of ₹4.18 (~$0.064)/kWh Without VGF Quoted in SECI’s 5 MW Solar Auction

A winning bid of ₹4.18/kWh 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 ...
/ Solar, Tenders & Auctions
Monthly Recap

Month in a Minute: Top Headlines From the Indian Renewable Energy Sector in October 2017

Here is a list of important headlines, developments and data points from India’s renewable energy sector during October 2017. ACME Solar Holdings announced that it is looking to raise $337 ...
/ Markets & Policy, Solar, Uncategorized
Supreme Court ReNew Power MPPMCL

Supreme Court Stays Jabalpur High Court’s Order Jeopardizing 51 MW of Solar in Madhya Pradesh

The 51 MW solar project developed by ReNew Power in Vijaypur, Madhya Pradesh is in jeopardy after the Supreme Court of India  issued a stay order on the Jabalpur High ...
/ Markets & Policy, Solar
Solar Tariffs in DCR Auctions Decline

Solar Tariffs in DCR Auctions Decline by 35 Percent in a Year

The tariff for solar projects developed under India’s domestic content requirement (DCR) category has declined by 35 percent during the past year as aggressive bidding trend continues. Earlier this month, ...
/ Solar, Tenders & Auctions
Financing Activity in the Indian Solar Sector So Far This Year

BREAKING: Azure Power Wins NTPC’s 250 MW DCR Solar Auction with a Low Bid of ₹3.14/kWh

Azure Power has emerged as the lowest (L1) bidder in the recently conducted 250 MW solar auction. The project will be developed under the domestic content requirement (DCR) category. Azure ...
/ Tenders & Auctions
Wind Becomes Competitive with Solar

Wind Becomes Competitive with Solar as Tariff Drops to a Record Low ₹2.64/kWh

In India, wind power tariff has dropped below ₹3/kWh for the first time with the lowest winning bid of ₹2.64 (~$0.0413)/kWh quoted in the second 1 GW wind auction conducted ...
/ Other, Wind
Renew Power 172 MW Solar Project in Telangana

ReNew Power Commissions a 172 MW Solar Project in Telangana

ReNew Power, a renewable energy project developer, has announced the commissioning of its 172 MW (143 MW AC) solar project at Dichipally, Telangana. The project was developed under the Telangana ...
/ Solar, Utility Scale
Mercom Interview with NEXTracker

India’s Solar O&M is Drawing in Large Global Players like NEXTracker

The more than 15 GW of solar capacity installed in India will require quality operation and maintenance (O&M) services, paving way for large global players to enter the market. The ...
/ Markets & Policy, Solar
Utility-scale Solar Project

DISCOM and Developers Agree on Renegotiated Tariff of ₹4.95 (~$0.0762)/kWh in Jharkhand to Develop 685 MW of Solar Projects

Mercom has confirmed that in Jharkhand, power purchase agreements (PPAs) for a total of 685 MW of solar projects out of 1.1 GW will be signed over the next few ...
/ Solar, Utility Scale
Gujarat Government Agencies Push the Low Bid to ₹2.65/kWh in 500 MW GUVNL Auction in India

Gujarat Government Agencies Push the Low Bid to ₹2.65/kWh in 500 MW GUVNL Auction in India

A low tariff of ₹2.65 (~$0.0413)/kWh was quoted in the recently held Gujarat Urja Vikas Nigam Limited (GUVNL) 500 MW solar auction with aggressive bidding by Gujarat government agencies. The ...
/ Solar, Tenders & Auctions
Solar Power Plant

Tata Power and Adani Top the List of India Solar Project Developers

As utility-scale solar in India takes off, two large power conglomerates – Tata Power and Adani – are leading project development activity. Cumulative large-scale solar installations reached ~13.6 GW in ...
/ Markets & Policy, Solar
Railway Solar Auction 67 MW

Railway Energy Management Company Auctions Over 67 MW of Rooftop Solar

The Railway Energy Management Company Limited (REMCL) successfully auctioned 67.38 MW of rooftop solar projects for the Indian Railways. These projects will be developed at premises and properties owned by ...
/ Solar, Tenders & Auctions
Where Are We With GST

Mercom Exclusive: Effects of 5 Percent GST on Solar in India

India’s Finance Minister, Arun Jaitley, confirmed a solar goods and services tax (GST) rate of 5 percent at the 15th meeting of the GST Council with the official order to the effect still ...
/ Other, Renewable Energy
Breaking: New Record Low Solar Tariff of Rs.2.44 (~$0.037)/kWh Set at the 500 MW Bhadla Phase-III Solar Park Auction in India

Breaking: New Record Low Solar Tariff of Rs.2.44 (~$0.037)/kWh Set at the 500 MW Bhadla Phase-III Solar Park Auction in India

Solar tariff in India has now breached Rs.2.50 (~$0.038)/kWh mark. Within a week solar tariff declined from Rs.2.62 (~$0.0405)/kWh to Rs.2.44 (~$0.037)/kWh. In the 500 MW Bhadla Phase-III Solar Park ...
/ Commercial, Solar
DEEP DIVE: Intense Competition Drives Solar Tariffs to a New Record Low of Rs.2.62/kWh at Bhadla Phase-IV Solar Park Auction in India

DEEP DIVE: Intense Competition Drives Solar Tariffs to a New Record Low of Rs.2.62/kWh at Bhadla Phase-IV Solar Park Auction in India

The solar tariff in India breached the Rs.3 (~$0.046)/kWh mark in the recently concluded 250 MW Bhadla Phase-IV Solar Park auction. The winning tariff of Rs.2.62 (~$0.0405)/kWh quoted in the ...
/ Solar, Utility Scale
Utility scale

ReNew Power Commissions 143 MW of Solar Project in Telangana

ReNew Power, a renewable energy project developer, commissioned a 143 MW solar project at Dichpally, Telangana. The project was being developed under the Telangana State Solar Policy (Group 2). ReNew ...
/ Solar, Utility Scale
Solar Finance

Indian Solar Sector Sees $1.6 Billion in Funding and M&A Transactions in Q1 2017

With solar installations crossing 12 GW by end of March 2017, financial activity was robust in the first quarter of 2017, with approximately $1.6 billion (~Rs.106 billion) in announced corporate, project funding ...
/ Finance and M&A, Solar
ReNew Power

ReNew Power Adds 1,056 MW of Renewable Energy Capacity in FY2016-17

ReNew Power, a renewable energy project developer, added 1,056 MW of renewable energy capacity in financial year (FY) 2016-17. The capacity includes 430 MW of solar and 626 MW of ...
/ Other, Renewable Energy
ReNew Power

Japan’s JERA Invests $200 Million in ReNew Power

JERA, a joint venture company of two of Japan’s largest utility companies – Tokyo Electric Power and Chubu Electric Power, invested $200 million for a 10 percent stake in India’s ...
/ Finance and M&A, Other
Month In A Minute

Month in a Minute: Important Headlines and Data Points from the Indian Renewable Sector in January 2017

Important Headlines and Data Points from the Indian Renewable Sector in January 2017 Solar Energy Corporation of India (SECI) released the list of successful developers for the 500 MW rooftop ...
/ Other, Renewable Energy
Finance

ADB Approves $390 Million Financing Package for ReNew Power to Develop 709 MW of Solar and Wind in India

The Asian Development Bank (ADB) has approved a $390 million (~Rs.26.54 billion) financing package for ReNew Power, an Indian renewable energy project developer. The funds will be utilized to develop ...
/ Finance and M&A, Other
Telangana Solar

Tata Power and ReNew Power Top the List of Large-Scale Solar Developers in India

Utility scale solar in India has seen exponential growth over the past two years with installations of approximately 9 GW to date, making up about 94 percent of total installations ...
/ Utility Scale
ReNew Power

ReNew Power Raises Rs.5 Billion Through Green Bonds

ReNew Power, announced its first public issue of non-convertible debentures (NCDs) with a face value of Rs.1 million (~$14,744) each, aggregating Rs.5 billion (~$73.72 million). Funding raised will be utilized ...
/ Finance and M&A, Solar
OPIC and ReNew Power Commit $74 Million to Set Up a 100 MW Solar Project in Telangana

OPIC and ReNew Power Commit $74 Million to Set Up a 100 MW Solar Project in Telangana

The Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, and ReNew Power, a solar and wind power producer, have signed a commitment of approximately $74 million to set up ...
/ Solar, Utility Scale
Adani Has the Largest Solar Project Pipeline in India, Tata Power Leads with Installed Capacity and Rooftop Installations

Adani Has the Largest Solar Project Pipeline in India, Tata Power Leads with Installed Capacity and Rooftop Installations

According to Mercom Capital Group’s latest report, India Solar Quarterly Market Update, large scale project development in India is largely fragmented but we are starting to see a shift towards ...
/ Markets & Policy, Solar