SECI’s 1,200 MW Wind Tender Receives Bids Totaling 2,190 MW

Opposing PPA Reviews, Renewable Developers Move High Court Against Andhra DISCOM

After the state distribution company (DISCOM) issued letters to entities and developers to revise tariffs for solar and wind projects which already have power purchase and sale agreements (PPAs and ...
Renewable Developer ReNew Power Raises $300 Million Through Rights Issue

Renewable Developer ReNew Power Raises $300 Million Through Rights Issue

ReNew Power, the Indian renewable energy project developer, has announced raising $300 million through a rights issue. A rights issue is when a company issues its existing shareholders a right ...
India’s Solar Sector Attracts $2.8 Billion in Investments in Q1 2019

India’s Solar Sector Attracts $2.8 Billion in Investments in Q1 2019

In the first quarter (Q1) of the calendar year (CY) 2019, the Indian solar sector received investments totaling $2.8 billion (~₹195.4 billion), according to Mercom’s Q1 2019 India Solar Market ...
Rajasthan’s Bhadla Solar Park Sees Commissioning of 200 MW by Azure and ReNew

Rajasthan’s Bhadla Solar Park Sees Commissioning of 200 MW by Azure and ReNew

200 MW of grid-connected solar photovoltaic (PV) projects have been commissioned at Rajasthan’s Bhadla Phase-III Solar Park. The Solar Energy Corporation of India (SECI) had tendered 250 MW of grid-connected ...
/ / Markets & Policy, Solar
SECI Auctions 2 GW of ISTS-Connected Wind Projects to be Developed Across India

Gujarat Extends Bid Submission Deadline for its Tender for 1 GW of Wind Projects

The Gujarat Urja Vikas Nigam Limited (GUVNL) has extended the bid submission deadline for 1,000 MW of grid-connected wind power projects to be developed in the state (Phase II-R). The ...
/ / Other, Wind
Uttar Pradesh Approves ReNew Power’s Bid to Develop 100 MW of Floating Solar Projects

Uttar Pradesh Approves ReNew Power’s Bid to Develop 100 MW of Floating Solar Projects

The Uttar Pradesh Electricity Regulatory Commission (UPERC) has approved the opening and finalization of bids for the development of 100 MW of floating solar photovoltaic (PV) projects in the state. The ...
/ / Markets & Policy, Solar
Azure’s Petition before MERC Seeking Declaration of GST as Change in Law Dismissed

Investment in Indian Solar Sector Dips to $9.8 Billion in 2018

In 2018, investments in the Indian solar sector totaled approximately $9.8 billion compared to 2017, in which almost $11.5 billion flowed into the Indian solar sector.  2018 witnessed a decline ...
/ / Markets & Policy, Solar
Suzlon Sells Two Solar Subsidiaries to ReNew Power for ₹297.3 Million

Suzlon Sells Two Solar Subsidiaries to ReNew Power for ₹297.3 Million

Suzlon Energy Limited (Suzlon) has announced that it will sell two of its solar subsidiaries to Ostro Energy, a wholly owned subsidiary of independent power producer, ReNew Power. The two ...
/ / Finance and M&A, Solar
ReNew Raises $375 Million Through Green Bond Issue

ReNew Raises $375 Million Through Green Bond Issue

Indian renewable energy independent power producer (IPP) ReNew Power Limited, has announced that it has successfully concluded a green bond issue of $375 million. Barclays (B&D), Goldman Sachs, HSBC, J.P ...
/ / Finance and M&A, Solar
Lowest Tariff of ₹2.55/kWh Wins SECI’s 1.2 GW ISTS Solar Auction

Lowest Tariff of ₹2.55/kWh Wins SECI’s 1.2 GW ISTS Solar Auction

ReNew Power has emerged as the L1 bidder by quoting the lowest tariff of ₹2.55 (~$0.035)/kWh to develop 300 MW in the recent auction conducted by the Solar Energy Corporation of ...
/ / Solar, Tenders & Auctions
ReNew Power Gets $350 Million in Debt Financing from OPIC to Scale Solar and Wind Projects

ReNew Power Gets $350 Million in Debt Financing from OPIC to Scale Solar and Wind Projects

ReNew Power has secured fresh debt financing of up to $350 million (~₹24.91 billion) from the Overseas Private Investment Corporation (OPIC). The funds will be utilized by ReNew Power to support ...
/ / Markets & Policy, Solar
Maharashtra’s Shirdi Temple Reissues 10 MW Solar EPC Tender

SECI’s 750 MW Solar Tender for Rajasthan Oversubscribed by 1,620 MW

The Solar Energy Corporation of India (SECI)’s 750 MW tender for solar PV projects to be developed on a standalone basis across the state of Rajasthan has been oversubscribed by 1,620 ...
/ / Solar, Tenders & Auctions
Tirupati Smart City Invites Tender for 6 MW of Solar Projects

Maharashtra Auctions 1 GW of Solar Projects at Lowest Tariff of ₹2.74/kWh

Shiv Solar and ACME Solar have quoted the lowest tariff of ₹2.74 (~$0.038)/kWh in the recent auction conducted by the  Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the purchase of ...
/ / Solar, Tenders & Auctions
Siemens Gamesa Wins Turnkey Contract for 176.8 MW Wind from ReNew Power

Siemens Gamesa Wins Turnkey Contract for 176.8 MW of Wind Capacity from ReNew Power

Siemens Gamesa (SGRE), a renewable energy project developer and an Engineering Procurement Construction (EPC) provider, has won turnkey contract from renewable energy project developer ReNew Power for the development of two wind projects aggregating ...
/ / Other, Wind
Sembcorp Commissions 250 MW of ISTS-Connected Wind Projects in Tamil Nadu

Sembcorp Commissions 250 MW of ISTS-Connected Wind Projects in Tamil Nadu

Sembcorp has commissioned 250 MW of interstate transmission system (ISTS)-connected wind power projects. The capacity is part of the 1,000 MW of wind projects tendered by the Solar Energy Corporation ...
/ / Other, Wind
ReNew Power Likely to Acquire 700 MW of Renewable Assets Across Four States

ReNew Power Likely to Acquire 700 MW of Renewable Assets Across Four States

In a bid to expand its foothold in the industry, India’s leading renewable energy project developer ReNew Power, is looking at new acquisition opportunities. According to its Draft Red Herring ...
Greenko and Adani Named Top Project Developers in India in 2017

Greenko and Adani Named Top Solar Project Developers in India in 2017

Solar installations in 2017 came to 9,629 MW, more than double the 4,313 MW installed in 2016, making 2017 the best year for solar installations in India, according to Mercom ...
ReNew Power Files for IPO After Raising Over a Billion Dollars in Funding

ReNew Power Files for IPO After Raising Over a Billion Dollars in Funding

Indian renewable energy project developer, ReNew Power, has filed draft papers with capital market regulator Securities and Exchange Board of India (SEBI) to float an Initial Public Offering (IPO), according to the ...
ReNew Power Acquires Indian Energy Limited for ₹364 Million

ReNew Power Acquires Indian Energy Limited for ₹364 Million

Indian renewable energy project developer ReNew Power has acquired a 100 percent stake in Indian Energy Limited (IEL) at a price of ₹364 million (~$5.545 million). In April 2018, ReNew ...
Over 80% of Recent Solar Auctions in India Won by Larger Solar Developers

Over 80% of Recent Solar Auctions in India Won by Larger Solar Developers

The solar sector in India is rapidly expanding with increasing participation from a mix of domestic and foreign developers. However, a detailed analysis of the winners of major solar auctions ...
/ / Markets & Policy, Solar
CERC Dismisses Adani Green’s Petition Against Power Grid Corporation

ReNew Power Fined for Project Commissioning Delay but PPA Not Terminated

The Supreme Court of India has asked renewable energy project developer ReNew Power to pay a penalty of ₹119 million (~$1,827,700) to the Madhya Pradesh Power Management Company Limited (MPPMCL) ...
/ / Markets & Policy, Solar
ReNew Power Acquires Ostro Energy

ReNew Buys Ostro in One of the Largest Renewable Acquisition Deals in India

Indian renewable energy project developer ReNew Power has announced the acquisition of Ostro Energy Private Limited. The acquisition is valued close to ₹10,600 crores (~$1.63 billion), according to Mercom’s channel ...
L1 Tariff of ₹2.91/kWh Quoted in 550 MW KREDL Grid-Connected Solar Project Auction

Lowest Tariff of ₹2.91/kWh Quoted in KREDL’s 550 MW Pavagada Solar Auction

The lowest (L1) tariff of ₹2.91 (~$0.044)/kWh was quoted in the recently concluded auction to develop 550 MW of grid-connected solar photovoltaic (PV) projects which was conducted by Karnataka Renewable ...
BREAKING: ReNew, Avaada and Azure Win Bids to Develop 550 MW of Solar Projects in Pavagada

ReNew, Avaada and Azure Win Bids to Develop 550 MW of Solar Projects in Pavagada

The Karnataka Renewable Energy Development Limited (KREDL) has auctioned 550 MW of grid-connected solar photovoltaic (PV) projects to be developed at the Pavagada Solar Park in Tumkur district of the state ...
ReNew Power Signs Pact with Maharashtra Government for Investment Worth $2.17 Billion

ReNew Power Signs Pact with Maharashtra Government for Investment Worth $2.17 Billion

Indian renewable energy project developer ReNew Power has announced that it has inked a pact with the Maharashtra government for a proposed investment of ₹140 billion (~$2.17 billion) for the ...
/ / Markets & Policy, Solar