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
ReNew Power Fined for Project Commissioning Delay but PPA Not Terminated

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
Wind Matches Lowest Solar Winning Bid of ₹2.44/kWh in SECI’s 2 GW Auction

Wind Matches Lowest Solar Winning Bid of ₹2.44/kWh in SECI’s 2,000 MW Auction

The Solar Energy Corporation of India (SECI) has successfully auctioned 2 GW of Inter-State Transmission system (ISTS)-connected wind projects under Tranche III. ReNew Power has won the bid to develop ...
/ / Other, Wind
Suzlon Signs Agreement with ReNew Power for Development of Wind Project in Karnataka

Suzlon Signs Agreement with ReNew Power for Development of Wind Project in Karnataka

Suzlon, a wind turbine manufacturer and renewable energy project developer, has bagged a repeat order of 96.6 MW from renewable energy project developer ReNew Power for the development of a ...
/ / Other, Wind
CPPIB Invests $144 Million Acquires 6.3 Percent% Stake in ReNew Power for a 6.3 Percent Stake $144 Million

CPPIB Invests $144 Million in ReNew Power for a 6.3 Percent Stake

The Canada Pension Plan Investment Board (CPPIB) has acquired a 6.3 percent stake in Indian renewable energy project developer ReNew Power from the Asian Development Bank (ADB) for $144 million ...
/ / Finance and M&A, Solar
Growth of Jharkhand’s Solar Sector Hobbled by State Inaction

Growth of Jharkhand’s Solar Sector Hobbled by State Inaction

The progress of Jharkhand’s solar sector is being severely hobbled by inaction and delays on the part of the state’s implementing and nodal agencies. The issue is apparent in the ...
/ / Solar, Utility Scale
ReNew Power Raises $352 Million

ReNew Power Raises $352 Million to Pursue Expansion Plans

Indian renewable energy project developer ReNew Power has raised ₹22.35 billion (~$352 million) to be used for its expansion and loan-payment plans. Confirming the development, a source at ReNew Power told ...
/ / Finance and M&A, Solar
India Recorded Strong Solar Tender and Auction Activity in December

India Recorded Strong Solar Tender and Auction Activity in December

After a period of lull, the month of December 2017 witnessed a surge in tendering and auction activity in solar sector in the country. Over 2,500 MW of solar was ...
/ / Solar, Tenders & Auctions
Azure Power and ReNew Power Are the Winners in the 250 MW Bhadla Solar Auction

Azure Power and ReNew Power Are the Winners in the 250 MW Bhadla Solar Auction

In the 250 MW Bhadla Solar Park auction, Azure Power won the bid to develop 200 MWs by quoting the lowest tariff of ₹2.48 (~$0.0388)/kWh. ReNew Power won the remaining 50 ...
/ / Solar, Tenders & Auctions
ReNew Power Acquires 103 MW of Wind Projects for over $155 Million

ReNew Power Acquires 103 MW of Wind Projects for over $155 Million

Indian renewable energy project developer ReNew Power has acquired a 100 percent stake in KCT Renewable Energy Private Limited (KCTREPL) from the Karm Chand Thapar (KCT) Group for over ₹10 ...
/ / Other, Wind
Development Status of Pavagada Solar Park and Projects

In-Depth Report: Development Status of 2 GW Pavagada Solar Park and Projects

Mercom recently visited the Pavagada Solar Park, and gained valuable insight into the nuances and challenges of park development. When complete, Pavagada will be the largest solar park in the ...
/ / Markets & Policy, Solar
Canada Pension Plan Investment Board to Invest About $200 Million in ReNew Power

Canada Pension Plan Investment Board to Invest About $200 Million in ReNew Power

The Canada Pension Plan Investment Board (CPPIB) is set to invest approximately $200 million (~₹12.9 billion) in ReNew Power Ventures in the form of compulsory convertible preference shares (convertible debt) ...
/ / Finance and M&A, Solar
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
Top Solar and Other Renewable Energy News Headlines from India in November 2017

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 ...
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