Sterling and Wilson’s Q4 FY 2025 Revenue Highest-Ever, Order Book Swells

Trading Volume Surge Pushes IEX Revenue Up 17% in Q4 FY 2025  

RECPDCL Invites Bids to Evacuate 3.7 GW Power from Pumped Storage Projects

Central Electronics Invites Bids for 200 MW Solar Module Plant

Daily News Wrap-Up: Karnataka Announces Open Access Regulations 2025

MERC Orders Arbitration to Resolve Delayed 500 MW Solar Project Dispute

NTPC REL Invites Bids for a 2 MW Green Hydrogen Electrolyzer

Without ISTS Waiver Extension, India’s 2030 Renewable Energy Goals Will Be at Risk

China Adds 60 GW of Solar Capacity in Q1 2025

Energy Storage Funding Declines Sharply in Q1 2025

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/04/amazon_polly_78577.mp3?version=1744691312">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>The Odisha Electricity Regulatory Commission (<a href="https://orierc.org/" target="_blank" rel="noopener">OERC</a>) has determined the aggregate revenue requirement (ARR), wheeling tariff, and retail supply tariff (RST) for the financial year (FY) 2025-26, retaining the existing tariff structure across all consumer categories.
The order applies to the four private distribution companies in Odisha- TP Central Odisha Distribution (TPCODL), TP Northern Odisha Distribution (TPNODL), TP Western Odisha Distribution (TPWODL), and TP Southern Odisha Distribution (TPSODL).
The Commission stated that the FY 2024–25 tariffs would continue unchanged because of inflationary pressures and the need to protect consumers from additional financial burden.
Alongside maintaining tariff stability, the Commission introduced new reconnection charges and application processing fees.
Application Processing Fees
The application processing fees have been standardized to streamline service-related requests. For low tension (LT) consumers, an application fee of ₹50 (~$0.60) will be applicable for services such as change of category, change of contract demand, or any correction in the consumer&#8217;s name, address, or ownership details (excluding changes to email ID or mobile number).
For high-tension (HT) and extra-high-tension (EHT) consumers, the same set of requests will attract a higher application fee of ₹1000 (~$12).
Reconnection Charges
For domestic LT single-phase consumers, the reconnection charge has been fixed at ₹300 (~$3.60), while for the other LT single-phase consumers, it will be ₹800 (~$9.65). LT three-phase consumers must pay ₹1200 (~$14.45).
For HT consumers, the reconnection charge is ₹6000 (~$72.30), and for EHT consumers, it is ₹10,000 (~$120.50).
These reconnection charges will not apply to consumers equipped with smart meters unless the disconnection occurs due to the meter&#8217;s tampering.
The order will be effective from April 1, 2025, to March 31, 2026.
Fixed and Monthly Minimum Fixed Charges (MMFC)
The MMFC for LT consumers have been retained. Domestic consumers will pay ₹20 (~$0.23)/kW for the first kW and each additional kW, while general-purpose LT consumers will pay ₹30 (~$0.35)/kW.
LT industrial (small) consumers will pay ₹80 (~$0.93) for the first kW and ₹35 (~$0.41) for each additional kW, while medium industrial consumers will pay ₹100 (~$1.16) for the first kW and ₹80 (~$0.93) for each additional kW.
Demand and Customer Service Charges for HT and EHT Consumers
For HT and EHT consumers, the demand charge remains ₹250 (~$2.90)/kVA. Additionally, these consumers must pay a customer service charge of ₹700 (~$8.12)/month. These charges help recover the fixed costs incurred by the DISCOMs in maintaining infrastructure and system reliability.
LT Category Energy Charges
LT consumers will be billed at a flat rate of ₹6.20 (~$0.072)/kWh for most categories, including public utilities and industrial services.
For HT and EHT consumers, the energy charges follow a slab tariff structure based on the load factor. Consumers with load factors up to 60% are charged ₹5.85 (~$0.068)/kVAh for HT and ₹5.80 (~$0.067)/kVAh for EHT. Those with load factors above 60% are charged ₹4.75 (~$0.055)/kVAh for HT and ₹4.70 (~$0.054)/kVAh for EHT.
Wheeling Charges and Cross-Subsidy Surcharge (CSS)
Wheeling charges differ across the four DISCOMs. TPSODL has the highest charge at ₹1.74 (~$0.020)/kWh, followed by TPNODL at ₹1.56 (~$0.018)/kWh, TPWODL at ₹1.04 (~$0.012)/kWh, and TPCODL at ₹1.02 (~$0.012)/kWh.
The CSS levied on open access consumers also varies. For HT consumers, TPCODL charges 1.06 (~$0.020)/kWh, TPNODL ₹0.03 (~$0.00035)/kWh, TPWODL ₹0.28 (~$0.0033)/kWh, and TPSODL ₹1.71 (~$0.020)/kWh. For EHT consumers, the surcharge ranges from ₹1.61 (~$0.019)/kWh for the TPWODL to ₹3.56 (~$0.041)/kWh for TPSODL.
Electric Vehicle Charges
Electric Vehicle charging stations will be billed at a uniform rate of ₹5 (~$0.058)/kWh. This rate applies to public charging stations as well as dedicated EV charging units in group housing societies, provided these are equipped with *separate metering connections.
No demand charges will be levied on EV charging infrastructure, ensuring affordability and ease of access for both private operators and residential complexes looking to set up EV charging points
Retail Supply Tariff and Rebates
The RST structure remains unchanged for FY 2025-26. LT consumers are billed on a per kWh basis, while HT and EHT consumers are billed on a kVAh basis to account for the power factor.
The Commission confirmed that no additional surcharge would be imposed on open access users beyond the CSS. It has also approved rebates, including a 20% reduction for HT consumers maintaining a load factor above 85% and a ₹2 (~$0.023)/kWh rebate for mega lift irrigation projects.
Renewable Energy Incentives
The Commission reaffirmed incentives under the Odisha Renewable Energy Policy 2022 to promote renewable energy. Consumers using power from in-state renewable energy projects commissioned during the policy period will receive a 50% CSS exemption, a 25% exemption on wheeling charges, and a ₹0.20 (~$0.0023)/kWh exemption on transmission charges by OPTCL.
These benefits are valid for 15 years and will be extended by five years for projects commissioned before March 31, 2026.
In August 2024, OERC <a href="https://www.mercomindia.com/odisha-draft-rpo-regulations" target="_blank" rel="noopener">proposed</a> new regulations to promote energy procurement from renewable sources within the state until the financial year 2029-30.
Subscribe to Mercom’s real-time <a href="https://mercomindia.com/product/mercoms-renewable-energy-regulatory-updates/" target="_blank" rel="noopener">Regulatory Updates </a>to ensure you don’t miss any critical updates from the renewable industry.

Odisha Regulator Retains Existing Power Tariffs for FY 2026

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/07/amazon_polly_56588.mp3?version=1693298486">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>Higher retail tariffs in Maharashtra have spurred commercial and industrial (C&amp;I) consumers to opt for solar open access, helping them save up to 40% on electricity bills annually.
According to Mercom India’s <a href="https://www.mercomindia.com/product/q1-2023-mercom-india-solar-open-access-market-report-518-mw-installed" target="_blank" rel="noopener">Q1 2023 Mercom India Solar Open Access Market Report</a>, as of March 2023, the state had the country&#8217;s second-largest cumulative installed solar open access capacity of 1,037 MW, accounting for 12.5% of the total capacity.
During the first quarter of 2023, the state added 70 MW of solar open access capacity, up 6% quarter-over-quarter compared to about 66 MW in Q4 2022.
Metallurgical industries, information technology, and pharmaceutical companies were the state&#8217;s largest adopters of solar open access during Q1 2023. With a pipeline of 519 MW, Maharashtra is all set to witness more capacity additions in the following quarters.
Here are some important points to consider for C&amp;I consumers in Maharashtra intending to go for solar open access.
Electricity Cost Savings
A significant factor facilitating the growth of open access in the state is the high retail tariff, which is among the highest in the country. C&amp;I customers have shifted to the solar open access model to take advantage of lower energy costs and save on operating expenditure.
In April, the Maharashtra Electricity Regulatory Commission <a href="https://www.mercomindia.com/maharashtra-regulator-approves-18-hike-in-ci-consumer-tariff-for-fy24" target="_blank" rel="noopener">approved</a> raising the tariff for C&amp;I consumers for the current financial year (FY 2024).
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-1.png"><img loading="lazy" decoding="async" class="alignnone wp-image-56598 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-1.png" alt="Maharashtra Open Access-1" width="520" height="163" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-1.png 520w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-1-300x94.png 300w" sizes="(max-width: 520px) 100vw, 520px" /></a>
On average, C&amp;I customers in Maharashtra can save up to 30-40% on their electricity bills by opting for solar open access under a captive or group captive model.
According to Aditya Malpani, Regional Head-West, and Director, Open Access at <a href="https://ampin.energy/" target="_blank" rel="noopener">Ampin Energy Transition</a>, &#8220;The approximate savings for industrial customers is around ₹2 (~$0.024)/kWh, whereas, for commercial consumers, it is around ₹6 (~$0.073)/kWh under the captive or group captive model.&#8221;
Concurring with him, another leading open access developer said that a C&amp;I consumer in Maharashtra could easily save anywhere between ₹4.5 million (~$54,482)/MW and ₹5 million (~$60,535)/MW per year by opting for solar open access.
The table below shows savings for open access consumers in Maharashtra under the captive or group captive model.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-2.png"><img loading="lazy" decoding="async" class="alignnone wp-image-56600 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-2.png" alt="Maharashtra Open Access-2" width="549" height="323" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-2.png 549w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-2-300x177.png 300w" sizes="(max-width: 549px) 100vw, 549px" /></a>
The net landed cost for a captive or group captive project in Maharashtra is around ₹6.56 (~$0.080)/kWh.
Considering this, the savings for industrial customers come to around ₹1.56 (~$0.019)/kWh and around ₹6.27 (~$0.077)/kWh for a commercial unit.
Notably, the cross-subsidy surcharge is exempted for projects under the captive or group captive models, whereas the additional surcharge is ₹1.36 (~$0.017)/kWh.
Third-Party for Open Access  
The third-party model is not a viable option for C&amp;I consumers in Maharashtra due to the cross-subsidy surcharge, additional surcharge, and other fees.
The net landed cost for C&amp;I consumers under the third-party model comes to ~₹8.25 (~$0.10)/kWh.
Under the third-party model, commercial and industrial customers must pay ₹1.69 (~$0.021)/kWh as a cross-subsidy surcharge. They must also pay wheeling and state transmission charges, making it an unviable option.
C&amp;I consumers are also charged ₹1.36 (~$0.017)/kWh as an additional surcharge, rendering the model unfeasible for most.
While there are no benefits for industrial consumers under the third-party model, commercial consumers can still save ₹4.58 (~$0.056)/kWh under the model.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-3.png"><img loading="lazy" decoding="async" class="alignnone wp-image-56601 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-3.png" alt="Maharashtra Open Access-3" width="444" height="376" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-3.png 444w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-3-300x254.png 300w" sizes="(max-width: 444px) 100vw, 444px" /></a>
Return on Investment
Considering the savings and 26% equity share in captive and group captive projects, the return-on-investment period is very short, ranging from 8-12 months.
&#8220;An industrial consumer in Maharashtra can expect the return on investment within 10-12 months, considering the rates and the initial capital investment. On the other hand, a commercial consumer can expect to make the money back within 7-8 months,&#8221; the open access developer said.
Power Purchase Agreements 
In addition to the savings, industrial and commercial consumers should look into various other factors, such as understanding the basic open access charges, banking mechanisms, and guaranteed energy settlement.
&#8220;Choosing the right green open access partner is a crucial decision for open access consumers which can significantly impact their projects&#8217; success and long-term viability. Evaluating factors such as reliability, capacity, sustainability, pricing, contractual terms, technical expertise, and reputation is crucial. The developer should have strong financial backing to support their projects,&#8221; Malpani said.
&#8220;Contractual terms and policies, including contract duration, exit clauses, price escalation clauses, and provisions for flexibility in energy procurement, should be reviewed before signing the power purchase agreement (PPA). By examining these aspects, consumers can mitigate risks and ensure long-term stability in energy supply,&#8221; he added.
Compared to variable retail tariffs, consumers can benefit from long-term open access where the tariff remains the same for the entire period. This makes long-term open access (LTOA) an attractive alternative for C&amp;I consumers.
The chart below shows the year-over-year growth in the retail grid tariff as compared to the fixed PPA prices for open access solar.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-Updated-1.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-56689 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-Updated-1.png" alt="Maharashtra Open Access-Updated 1" width="618" height="365" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-Updated-1.png 618w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-Updated-1-300x177.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Maharashtra-Open-Access-Updated-1-600x354.png 600w" sizes="(max-width: 618px) 100vw, 618px" /></a>
State Policies
The growth of open access in Maharashtra can also be attributed to the state&#8217;s supportive regulatory framework and efficient approvals by DISCOMs.
The state&#8217;s multi-year tariff gives stakeholders a long-term trajectory of open-access charges and assurance regarding their savings throughout the tariff order&#8217;s validity.
&#8220;Maharashtra has a significant C&amp;I market and one of the country&#8217;s highest retail tariffs, making green open access a popular source among these consumers. It has ample land and readily available transmission infrastructure to set up open access projects in the state. The state regulators have implemented energy settlement on a monthly basis with a banking charge of 2%. Also, it has a multi-year tariff framework allowing developers to make informed decisions on project planning and execution over the long term. Further, as per the Maharashtra State Energy Policy, there is an electricity duty waiver for renewable energy projects set up under a captive model until 2027,&#8221; Malpani noted.
&#8220;Coupled with timely permission for grant of open access, Maharashtra provides a conducive market for bulk energy consumers to meet green energy requirements and seamless growth for renewable energy developers looking to enter the C&amp;I market,&#8221; he said.
Mercom India will host the <a href="https://www.mercomindia.com/event/ci-clean-energy-meet-2023-chennai" target="_blank" rel="noopener">C&amp;I Clean Energy Meet</a> in Chennai on July 21 to bring together industry experts and C&amp;I consumers looking to save power costs to discuss various energy transition options.
Interested entities can register for upcoming events by sending an email to <a href="mailto:events@mercomindia.com" target="_blank" rel="noopener">events@mercomindia.com</a>.
To find out more about the upcoming events, click <a href="https://www.mercomindia.com/event" target="_blank" rel="noopener">here</a>.

High Tariffs in Maharashtra Drive Open Access Solar Adoption

The Madhya Pradesh Electricity Regulatory Commission (<a href="http://www.mperc.in/" target="_blank" rel="noopener noreferrer">MPERC</a>) has determined tariffs for low voltage (LV), high voltage (HV), and extra-high voltage (EHV) consumers in the state in its retail supply tariff order.
As per the order, electric vehicles (EV) and electric rickshaw charging stations are exempted from the tariff hike. The new tariffs will be applicable starting December 26, 2020, until further notice or the retail supply tariff order is announced.
The Commission said that distribution companies (DISCOMs) in the state had projected an annual revenue requirement (ARR) of ₹400.16 billion (~$5.4 billion) for the financial year (FY) 2020-21, with a revenue gap of ₹21.69 billion (~$295.5 million) ad have proposed to recover this gap through a 5.73% hike on existing tariffs.
Of this, the Commission said it allowed an ARR of ₹376.73 billion (~$5.1 billion) for FY 2020-21, with a revenue gap of ₹7.3 billion (~$99.5 million) at the existing tariff. Subsequently, it has allowed only a tariff hike of 1.98% across categories.
Other consumers excluded from tariff hikes include domestic consumers with a load lower than 100 watts and a monthly consumption of fewer than 30 units; low tension industries; temporary connections for social or marriage purposes and religious functions; and railway traction consumers.
Metering charges were also not allowed, and consumers are not required to pay meter rent. The Commission also set the tariff for agricultural consumers with a load of up to 10 HP at ₹750 (~$10)/HP annually. Agricultural consumers with a load higher than 10 HP will be charged ₹1,500 (~$20)/HP per annum.
The MPERC noted that rebates or incentives for prepaid metering, advance, prompt, and online bill payments would remain unchanged. Additionally, incentives on time of day (TOD) tariff, load, and power factor will also remain unchanged along with rebates on new and existing HT or EHT connections, captive power projects, railway traction, and open access consumers.
Last year, the Madhya Pradesh Power Management Company had <a href="https://mercomindia.com/madhya-pradesh-ev-charging-tariff/" target="_blank" rel="noopener noreferrer">proposed</a> the tariff for electric vehicles and electric rickshaw charging infrastructure in the state. For low-tension consumers, it was set as ₹6 ($0.086), and for high-tension, the tariff was ₹5.90 ($0.072).
Earlier this year, the government <a href="https://mercomindia.com/guidelines-revised-ev-charging-infrastructure/" target="_blank" rel="noopener noreferrer">revised</a> its guidelines for EV charging infrastructure, which specified that the tariff for the supply of electricity to the EV public charging stations should not be more than 15% of the average cost of supply of power.
&nbsp;
Image credit: Unsplash

Madhya Pradesh Exempts EVs and E-Rickshaw Charging Stations from Tariff Hike

Amplus Energy Solutions, a rooftop solar company, has joined forces with Big Basket, an online grocery retailer, to deploy renewable energy installations at its various premises in the country.
As per their partnership, Amplus will install 1.4 MW of rooftop solar systems at 12 Big Basket facilities across four states in the country, namely Haryana, Maharashtra, Uttar Pradesh, and Tamil Nadu.
“Online grocery sector in India is moving very rapidly with a highly competitive market. We have experienced rapid growth over the last few years which will continue going forward. For us, adopting solar power was always a natural choice for not to just reduce our energy costs but also to ensure our carbon footprint is offset by this initiative, we will continue to follow green ways to grow our business,” Ramesh V.S., co-founder of Big Basket said.
This partnership will help Big Basket generate approximately 310,64,120 units of green electricity, which will aid in the mitigating around 29,440 metric tons of carbon dioxide over a twenty-year duration.
“Solar sector in India is growing at a rapid pace, and Big basket as a leader in online grocery market will set the benchmark for other companies in the segment to follow environmentally conscious way for growth. With this partnership, Big Basket will be able to reduce their carbon dioxide emissions to a large extent,” said Sanjeev Aggarwal, CEO &amp; MD, AmplusSolar.
Recently <a href="https://mercomindia.com/india-e-commerce-industry-rooftop-solar/" target="_blank" rel="noopener noreferrer">Mercom</a> reported about the <a href="https://mercomindia.com/india-e-commerce-industry-rooftop-solar/" target="_blank" rel="noopener noreferrer">opportunity for rooftop</a> solar installations in the e-commerce industry in India. India’s e-commerce industry is expected to surpass the U.S. to become the second largest e-commerce market in the world by 2034.
Large e-commerce companies are including renewables in their corporate social responsibility and sustainability adoption plans. The e-commerce industry is still a small fraction of the rooftop space, accounting for approximately 1% to 2% of the total rooftop capacity installed in the country. In the future, e-commerce is expected to garner a bigger slice of the pie in terms of installed rooftop capacity.
Last year, <a href="https://www.amazon.in/" target="_blank" rel="noopener noreferrer">Amazon India</a>, a global e-commerce giant, <a href="https://mercomindia.com/amazon-india-rooftop-solar-seven-facilities/" target="_blank" rel="noopener noreferrer">had announced</a> that it would set up 8,000 kW of rooftop solar installations by the end of the year at its fulfillment centers and sorting facilities across the country.
Moreover, <a href="http://www.wal-martindia.in/" target="_blank" rel="noopener noreferrer">Walmart India</a>, a wholly-owned subsidiary of Walmart Inc, had also <a href="https://mercomindia.com/walmart-india-rooftop-solar-1-stores/" target="_blank" rel="noopener noreferrer">announced</a> that it was planning to incorporate sustainable sources such as solar energy, water harvesting, and recycling to run its stores in the country.

retail

Get the most relevant India solar and clean energy news.

RECENT POSTS