Sterlite Power Bags Transmission Project to Evacuate 4.5 GW Renewable Energy

NRL Floats EoI to Supply Renewable Power for a Green Hydrogen Project

DISCOM Dues to Power Generators Rise to ₹529 Billion in March 2025

Electric Vehicle Sales Clock 3% YoY Growth in Q1 2025

IREDA’s FY 2025 Loan Approvals Grow 27% YoY

Bihar Adds Distributed Renewable Energy to its Proposed RPO Targets

Madhya Pradesh Regulator Allows Solar Developer to Enhance DC Capacity

Jodhpur DISCOM Invites EoI for 2.4 GW Solar Projects

Prozeal Green Energy Files Draft Papers for ₹7 Billion IPO

Lower Home Solution Segment Sales Reduce SMA Solar’s Revenue by 20%


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					</table><p>Integration of the Domestic Content Requirement (DCR) <a href="https://www.mercomindia.com/module-serial-number-glitch-slowing-pm-surya-ghar-rooftop-solar-installations" target="_blank" rel="noopener">verification</a> portal with the PM Surya Ghar: Muft Bijli Yojana portal and stringent solar module verification processes have left rooftop solar installers with a unique challenge. When installers try to update module details on the PM Surya Ghar portal, an error message throws up, saying the module number already exists in the system. The Ministry of New and Renewable Energy has mandated that starting December 1, 2024, only solar modules whose DCR credentials can be verified through the DCR verification portal will be accepted under the PM Surya Ghar program.</p>
<p>The Karnataka Electricity Regulatory Commission <a href="https://www.mercomindia.com/karnataka-condones-delay-commissioning-solar-project" target="_blank" rel="noopener">condoned</a> a delay of 849 days in commissioning a 20 MW solar power project by Asian Fab Tech in Chamarajanagar. The Commission directed Bangalore Electricity Supply Company (BESCOM) to pay the agreed tariff of ₹2.89 (~$0.033)/kWh for the energy supplied and the applicable late payment surcharge. It also set aside BESCOM’s notice demanding liquidated damages, ruling that Asian Fab Tech was not liable for any penalties.</p>
<p>Welspun Renewable Energy, Avaada Energy, and SAEL Industries <a href="https://www.mercomindia.com/welspun-avaada-sael-win-guvnls-250-mw-solar-auction" target="_blank" rel="noopener">won</a> Gujarat Urja Vikas Nigam’s auction to supply power from 250 MW grid-connected solar power projects anywhere in India with a greenshoe option of 250 MW. Welspun and Avaada each quoted a tariff of ₹2.60 (~$0.0299)/kWh to win 50 MW and 100 MW, respectively. SAEL won 100 MW out of the quoted capacity of 200 MW at a tariff of ₹2.60 (~$0.0299)/kWh under the bucket-filling method.</p>
<p>Dalmia Cement Bharat will <a href="https://www.mercomindia.com/dalmia-cement-to-procure-10-mw-solar-power-from-captive-project" target="_blank" rel="noopener">procure</a> 10 MW of power from Kilavikulam Rajalakshmi Solar Power Developer’s captive solar project in Tamil Nadu. Dalmia Cement will acquire 34.52% or three million equity shares of the solar power developer at a face value of ₹10 (~$0.1149) per share, aggregating to ₹30 million (~$344,754). Kilavikulam Rajalakshmi Solar Power Developer is a special purpose vehicle for setting up captive solar projects in Tamil Nadu. Its 10 MW project is expected to be completed within two months.</p>
<p>NLC India <a href="https://www.mercomindia.com/nlc-india-4-mw-green-hydrogen-project" target="_blank" rel="noopener">invited</a> bids to commission a 4 MW proton exchange membrane electrolyzer-based green hydrogen project at Neyveli, Tamil Nadu. Bids must be submitted by March 24, 2025. Bids will be opened on the same day. The selected bidder will be responsible for the design, engineering, manufacturing, inspection, testing, supply, logistics, construction, erection, commissioning, trial operations, and performance guarantee testing.</p>
<p>Solar Energy Corporation of India <a href="https://www.mercomindia.com/seci-invites-bids-for-2-7-mw-floating-solar-projects-in-lakshadweep" target="_blank" rel="noopener">invited</a> bids to set up cumulative 2.7 MW grid-connected floating solar projects with a battery energy storage system (BESS) in Lakshadweep. The projects will be in the Agatti (950 kW) and Kavaratti (1.75 MW) islands. Both projects will have a minimum BESS capacity of 2.5 MW/16 MWh. Bids must be submitted by April 30, 2025. Bids will be opened on May 5. Selected bidders must design, engineer, install, supply, erect, test, and commission the projects.</p>
<p>Oil and Natural Gas Corporation <a href="https://www.mercomindia.com/ongc-invites-bids-for-10-mw-floating-solar-project-in-gujarat" target="_blank" rel="noopener">issued</a> a tender for the engineering, procurement, and construction of a 10 MW (AC) floating solar project at its Hazira facility in Gujarat. The scope of work includes operations and maintenance of the project for seven years. Bids must be submitted by April 6, 2025. Bids will be opened on April 7. Bidders must commit to a minimum net electrical energy generation guarantee of 20,450,000 kWh for the first year at the delivery point.</p>
<p>PFC Consulting <a href="https://www.mercomindia.com/pfc-invites-bids-to-evacuate-3-gw-power-for-green-hydrogen-projects" target="_blank" rel="noopener">invited</a> bids to evacuate 3 GW of power for green hydrogen/ammonia projects on a build, own, operate, and transfer mode in the Kakinada area, Andhra Pradesh. Bids must be submitted by May 6, 2025. Bids will be opened on the same day. Bidders must submit a bid procurement fee of ₹500,000 ($7,000) plus 18% GST. Selected bidders must submit a contract performance guarantee of ₹372.5 million (~$4.26 million).</p>
<p>U.S.-based electric vehicle charging solutions company ChargePoint <a href="https://www.mercomindia.com/chargepoint-beats-revenue-expectations-in-q4" target="_blank" rel="noopener">reported</a> a revenue of $101.9 million in the fourth quarter (Q4) of the fiscal year 2025, a 12% year-over-year decline compared to $115.8 million. However, the revenue exceeded analyst expectations by $756,610. Revenue from networked charging systems in Q4 stood at $52.6 million, a 29% decrease from $74 million in Q4 2023.</p>
<p>Global investment group CDPQ <a href="https://www.mercomindia.com/investment-group-cdpq-to-acquire-innergex-renewable-energy-for-10-billion" target="_blank" rel="noopener">announced</a> it will acquire all the issued and outstanding common shares of renewable power producer Innergex Renewable Energy for $13.75 per share in cash. The acquisition marks an approximately 58% increase over the closing price of common shares on the Toronto Stock. The two companies entered a definitive agreement in which CDPQ will also acquire all Innergex’s Series A and C issued and outstanding preferred shares for $25 per share in cash. The total transaction value is $10 billion.</p>


Daily News Wrap-Up: Module Number Glitch Hits PM Surya Ghar Installations


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					</table><p>The Gujarat Electricity Regulatory Commission (<a href="https://gercin.org/" target="_blank" rel="noopener">GERC</a>) has recently finalized tariffs for three solar power projects in the state with a cumulative capacity of 1,200 MW and authorized Gujarat Urja Vikas Nigam (<u><a href="https://www.guvnl.com/" target="_blank" rel="noopener">GUVNL</a></u>) to sign the power purchase agreements with the developers.</p>
<p>SJVN Green Energy has been contracted to supply 500 MW of solar power at ₹2.54 ($0.0304)/kWh.</p>
<p>SAEL Industries will supply 200 MW of solar power, with an option to provide an additional 200 MW if required. The tariff rate for the initial 200 MW is ₹2.55 ($0.0305)/kWh. The greenshoe capacity will be supplied at ₹2.54 ($0.0304)/kWh.</p>
<p>Coal India will supply 300 MW of solar power at a tariff of  ₹2.55 ($0.0305)/kWh.</p>
<p><strong>Background</strong></p>
<p>GUVNL invited bids to purchase power from 600 MW grid-connected solar power projects in GIPCL&#8217;s renewable energy park at Khavda (GIPCL Stage 1), with an option for an additional 600 MW capacity without energy storage.</p>
<p>Following the tariff-based competitive bidding guidelines, GUVNL shortlisted and qualified four bidders for participation in the e-reverse auction with a cumulative capacity of 1,200 MW.</p>
<p>The e-reverse auction concluded with SJVN Green Energy quoting the lowest tariff (L1) of ₹2.54 ($0.0304)/kWh. According to the auction rules, successful bidders falling within 2% of the lowest tariff could be declared as such at GUVNL&#8217;s discretion. SAEL Industries and Coal India, each at a tariff of ₹2.55 ($0.0305)/kWh, were declared the other successful bidders.</p>
<p>The successful bidders were then offered a greenshoe option to expand their capacity at the L1 tariff. SJVN Green Energy accepted an additional 300 MW, bringing its total to 500 MW. SAEL Industries accepted 200 MW for a total of 400 MW. Coal India did not accept the greenshoe option.</p>
<p>GUVNL said the discovered tariffs in this tender are considered competitive compared to other bids in the market, considering the current trends and costs associated with power transmission.</p>
<p>It filed a petition seeking approval from the Commission to adopt the discovered tariffs.</p>
<p><strong>Commission&#8217;s Analysis</strong></p>
<p>The Commission noted that the weighted average tariff for the 1,200 MW capacity is ₹2.54 ($0.0304)/kWh – ₹2.51(~$0.03)/kWh. Comparing these tariffs with those of Khavda Park tenders and other central bidding agencies, the current tender&#8217;s tariffs fall within the market range.</p>
<p>SJVN Green Energy and Coal India confirmed that GUVNL issued letters of intent at tariffs of ₹2.55 (~$0.0305)/kWh and ₹2.54 ($0.0304)/kWh/kWh.</p>
<p>SAEL Industries stated that it was awarded 400 MW capacity at a weighted average tariff of ₹2.545 (~$0.0304)/kWh under the greenshoe option.</p>
<p>All three developers confirmed they had no objection to the adoption of tariffs.</p>
<p>Considering these factors, the Commission adopted the tariffs and allowed GUVNL to sign power purchase agreements with the project developers.</p>
<p>The Commission recently <a href="https://www.mercomindia.com/guvnl-to-procure-power-o2-power/" target="_blank" rel="noopener">adopted</a> the tariff of ₹2.81 ($0.033)/kWh quoted by TEQ Green Power, a subsidiary of O2 Power, for a 200 MW solar project at the Dholera Solar Park.</p>
<p>Subscribe to Mercom&#8217;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&#8217;t miss any critical updates from the renewable industry.</p>


Gujarat Electricity Regulator Adopts Tariff for 1.2 GW Solar Projects

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