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					</table>Energy storage technology and services provider <a href="https://fluenceenergy.com/" target="_blank" rel="noopener">Fluence</a>’s net loss narrowed to $37.4 million for the second quarter (Q2) of the financial year (FY) 2023 from a loss of $60.7 million in Q2 2022 on the back of increased deployments of energy storage solutions.
Higher energy storage deployments increased Fluence’s revenue by 104% year-over-year (YoY) to $698 million. The company said the revenue growth was also due to a few projects ahead of schedule.
Fluence’s adjusted Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) loss narrowed to $24.8 million compared to $53.2 million in Q2 2022.
The company deployed approximately 2 GWh of energy storage solutions during the quarter, up 92% from 1.2 GWh in Q2 2022.
The company received orders for 2.8 GWh of energy storage services during Q2, up from 1.1 GWh in the same period last year. The services attachment for the projects increased to 263% from 70% in Q2 2022.
Fluence received a 200 MW binding award during the January-March quarter for energy-storage-as-transmission, making it the company’s third transmission award.
It also signed a master supply agreement with utility and power generation company <a href="https://www.aes.com/green-hydrogen" target="_blank" rel="noopener">AES Corporation</a>, under which Fluence plans to procure battery cells, adding another battery cell supplier to its portfolio.
Fluence was awarded a 400 MWh contract in Australia for Shell Energy’s Rangebank battery energy storage project. It also signed a long-term service agreement with Orsted for a 1,200 MWh energy storage contract.
The company’s CEO, Julian Nebreda, said, “We delivered a record quarter highlighted by our highest quarterly revenue. Our financial results reflect our success in accelerating project execution ahead of schedule. As a result of our exceptional performance, we are now closer to reaching profitability on an Adjusted EBITDA basis.”
The U.S.-based firm recorded a quarterly order intake of $847 million for Q2, which includes 1.1 GWh of storage solutions, 2.8 GWh of storage services, and 2.7 GW of orders for digital applications.
Fluence’s storage assets under management stood at 5.3 GWh by the end of Q2 2023, up from 2.8 GWh in the same quarter a year ago.
In an <a href="https://www.mercomindia.com/energy-storage-fluence-plans-manufacturing-in-india" target="_blank" rel="noopener">interview</a> with Mercom India earlier this year, Nebreda said the company is working on localizing its products in India as quickly as possible. He said, “Batteries are almost half the project cost. So, we plan to have half the components needed in a storage system made in India and the other half – batteries – imported into the country. But we are committed to having a fully Indian product soon.”
Fluence‘s net loss for the first quarter of 2023 <a href="https://www.mercomindia.com/energy-storage-firm-q1-net-37-million-on-orders" target="_blank" rel="noopener">narrowed</a> to $37 million compared to $111.5 million YoY, primarily driven by the highest-ever quarterly order intake of $856 million.

Energy Storage Firm Fluence Cuts Q2 Loss to $37 Million on Higher Deployments

<a href="https://www.smartjoules.co.in/" target="_blank" rel="noopener">Smart Joules</a>, an energy-efficiency-as-a-service company, said it raised $4.1 million in Series A funding from ADB Ventures, Burman Family Office, Max I. Limited, cKinetics Accelerator, Saket Burman from the Dabur family, among other investors.
The funding will be used to expand the company’s services across large commercial buildings and industries in India. It also plans to use the funds to bolster its energy management team, enhance its digital technology platform, and expand its presence across hospitals.
Smart Joules will also push its cooling-as-a-service offering to commercial buildings and industries with heavy air-conditioning loads like pharmaceuticals and data centers, according to its press statement.
“We have seen the Smart Joules founders build an amazing climate positive start-up from the ground up and excited to be part of the next phase of their journey where they are taking their innovative Internet of Things-enabled, data-analytics driven platform to transform the energy efficiency landscape in India by making it simple and profitable for businesses to invest into,” said Sangam Ventures’ Founder Karthik Chandrasekhar.
Smart Joules specializes in enhancing existing energy-intensive systems like cooling, heating, compressed air or steam in commercial and industrial setups using capital expenditure-free solutions.
They also replace old, energy-intensive equipment with more efficient ones. The company’s DeJoule technology platform uses sensors and Internet-of-things technology to monitor and control equipment and optimize their real-time performance allowing users to save about 15% on energy.
The need for energy-efficient products and services is becoming more apparent as global climatic conditions worsen. In July 2020, the Ministry of Power, in consultation with the Bureau of Energy Efficiency, <a href="https://mercomindia.com/bee-criteria-star-rating-fluorescent-lamps/" target="_blank" rel="noopener">amended</a> the star rating criteria of tube lights to promote energy efficiency.
Last year, the central government and the Bureau of Energy Efficiency <a href="https://mercomindia.com/energy-efficiency-bee-standards-air-conditioners/" target="_blank" rel="noopener">prescribed</a> new energy performance standards for room air conditioners and had mandated that the default temperature must be set at 24° Celsius (75.2° Fahrenheit). This is to promote energy efficiency and reduce power demand.

Energy Efficiency Company Smart Joules Raises $4.1 Million in Series A Funding

The Energy Efficiency Services Limited (<a href="https://www.eeslindia.org/" target="_blank" rel="noopener noreferrer">EESL</a>) has floated a tender seeking to hire a fleet management agency to deploy its electric cars to government organizations or public sector undertakings (PSUs) on a lease or rental model across India.
EESL, a joint venture of state-owned NTPC Limited, Power Finance Corporation (PFC), REC Limited, and POWERGRID, did not specify an earnest money deposit (EMD) amount in their invitation for bids (IFB) document. The deadline for submitting the bids is December 31, 2020.
The scope of work would include providing chauffeur services for driving the electric cars, maintenance, repairs, damage handling, claims management, pickup and drop duties, driver support, 24&#215;7 emergency roadside assistance, project organization and management, and customer service, among others. EESL expects these services for 600 of its electric cars.
To be eligible to place bids, applicants must have at least a year’s experience in end-to-end fleet management and provide the services mentioned in the scope of work to government organizations or PSUs. Bidders must be a car fleet management company, fleet operator, cab aggregator, car leasing company, or a platform-based professional service provider.
Prospective bidders are also expected to have an average annual financial turnover of ₹46.5 million (~$633,460) over the last three years. The net worth of the bidder in the preceding financial year must not be less than 100% of the paid-up share capital and must be positive. They are also expected to have been profitable in any two of the last three financial years.
In September, EESL <a href="https://mercomindia.com/eesl-buy-ev-tata-hyundai/" target="_blank" rel="noopener noreferrer">announced</a> its plans to acquire 250 electric vehicles from Tata Motors and Hyundai Motor India for use by the Indian Government. Tata Motors will supply 150 of its Nexon electric sports utility vehicles, and Hyundai will provide 100 of its Kona electric SUVs to replace the central and state governments’ existing fleet of petrol and diesel vehicles, according to the EESL.
Previously, the energy service company <a href="https://mercomindia.com/eesl-tender-electric-cars-pan-india/" target="_blank" rel="noopener noreferrer">invited</a> bids for the procurement of 250 electric cars. These electric cars will come with three years of warranty and a comprehensive annual maintenance contract of up to eight years.
Earlier, it <a href="https://mercomindia.com/eesl-ev-charging-stations-noida/" target="_blank" rel="noopener noreferrer">signed</a> an agreement with the New Okhla Industrial Development Authority (Noida) to set up 162 public charging stations and related infrastructure.
According to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener noreferrer">India Solar Tender Tracker</a>, EESL has floated tenders for 11,300 electric vehicles as of December 2020.

EESL Floats Tender Seeking Fleet Management Services for its Electric Cars

The Military Engineer Services (<a href="https://mes.gov.in/">MES</a>) has invited bids for the engineering, procurement, and construction (EPC) of a 1.5 MW grid-connected solar power project at Thanjavur, Tamil Nadu.
The project is expected to cost ₹116.3 million (~$1.58 million) and must be completed in one year. Interested bidders are expected to make an earnest money deposit (EMD) of ₹906,500 (~$12,308). The last date for submitting the bids is January 4, 2021.
The scope of work includes constructing and commissioning the project along with executing the necessary civil and electrical work involved. It also includes providing comprehensive operation and maintenance services for the projects. Bidders must provide a material warranty for ten years and a performance warranty for 25 years for the solar modules.
To be eligible to participate in the competitive bidding process, bidders should have prior experience of completing solar power projects for government departments or public sector undertakings (PSUs) over the last seven years.
In case the bidder has developed only one project, it should be at least 80% of the tendered capacity. In the case of two projects, the capacity of each should be at least 50% of the tendered capacity, and for three projects, each should be at least 40% of the tendered project capacity.
MES enlisted contractors with a “class S” rating or above to be eligible to place bids. Unlisted contractors who meet the annual turnover, financial criteria, solvency, and working capital requirements of enlisted “class S” contractors are also allowed to place bids.
According to Mercom’s India <a href="https://mercomindia.com/product/india-solar-tender-tracker/">Solar Tender Tracker</a>, MES has so far issued tenders for 138.73 MW of ground-mounted solar power projects.
Recently, the Military Engineer Services <a href="https://mercomindia.com/military-engineering-services-bids-1-mw-solar/">invited</a> bids to develop a 1 MW ground-mounted solar power project at Itarana, Alwar in Rajasthan. The project’s estimated cost was ₹68 million (~$911,920).
In June this year, MES <a href="https://mercomindia.com/mes-invites-bids-solar-assam/">invited</a> bids to develop a 1 MW solar power project and allied infrastructure at Jorhat in Assam. The estimated cost of that project was ₹60.6 million (~$795,610).

Military Engineer Services Floats EPC Tender for 1.5 MW of Solar Projects in Tamil Nadu

<a href="http://www.moil.nic.in/" target="_blank" rel="noopener noreferrer">MOIL Limited</a>, a state-owned manganese-ore mining company, headquartered in Nagpur, has floated a tender seeking the services of qualified coordinating agencies (QCAs) for its solar and wind power farms.
The scope of work includes providing QCA services such as power forecasting, scheduling, and deviation settlement of energy generated from its 5 MW solar power project at Nagpur, Maharashtra (Lot-1), and its 15.2 MW wind energy farm at Ratedi Hills, Madhya Pradesh (Lot-2).
Interested bidders are expected to make an earnest money deposit of ₹28,000 (~$381). The last date for submission of bids is October 16, 2020. The work is estimated to cost ₹900,000 (~$12,241) along with Goods and Services Tax (GST) for Lot -1 and ₹478,800 (~$6,512) with GST for Lot &#8211; 2.
Successful bidders are also expected to provide billing services, real-time analytics dashboard facilities, and any other services the state load despatch center (SLDC) may require for these projects. They are expected to provide these services for 36 months from the date of commencement as per the work order.
To be eligible to place bids, applicants must have had an average annual turnover of at least two times the value of the tender over the last three years. They are also expected to provide a net worth certificate reflecting a positive net worth of at least ₹15 million (~$204,026). The tender documents said that bidders must be financially strong enough to handle any potential penalties due to deviation charges.
Bidders must also have at least one year’s experience in the field for wind or solar power scheduling and forecasting in the last seven years.
The appointed of QCAs are being mandated by the state electricity regulators. In Madhya Pradesh, the regulator <a href="https://mercomindia.com/madhya-pradesh-solar-wind-generators-qca/" target="_blank" rel="noopener noreferrer">mandated</a> that if wind and solar generators fail to appoint a common QCA within two months from the date of issue of notice by the state load despatch center, then the concerned licensee will be asked to disconnect the defaulting generators. Previously, the regulations stated that the wind and solar generators must appoint a common QCA within one month.On another note, the Maharashtra Electricity Regulatory Commission has <a href="https://mercomindia.com/maharashtra-scheduling-forecasting-solar-wind/" target="_blank" rel="noopener noreferrer">exempted</a> renewable energy QCAs for meter reading, data collection, and communication from paying scheduling and forecasting charges. However, the initial corpus that QCAs must deposit remained unchanged.

Qualified Coordinating Agencies Required for 5 MW Solar and 15 MW Wind Farms

The Tuticorin Port Trust and the states of Madhya Pradesh and Odisha have expressed interest in setting up renewable energy manufacturing parks in response to the Ministry of New and Renewable Energy’s (<a href="http://mnre.gov.in/">MNRE</a>) recent notice to states and ports asking them to earmark land with potential for setting up renewable hubs.
The latest press release issued by the MNRE said that the ministry has been working towards bringing in foreign investment by reaching out to trade commissions and representatives of various countries, inviting them to invest in these manufacturing hubs at a time when many companies are planning to shift their manufacturing bases away from China.
In line with this, it said that it has set up the Renewable Energy Industry Facilitation and Promotion Board to facilitate investments in the sector. It added that it has also strengthened clauses in power purchase agreements (PPAs) to boost investor confidence.
The ministry also said that it is taking efforts to boost the exports of renewable energy services like project designing, operations, and maintenance as India’s renewable energy services and practices in project and grid development are among the best in the world.
The MNRE said that these manufacturing hubs would not only manufacture equipment like silicon ingots, wafers, solar cells, modules, and wind equipment, but also ancillary equipment like back sheets, glass and steel frames, inverters, batteries, etc. According to the government’s statement, 85% of module requirements are met with imports currently.
In the calendar year (CY) 2019, <a href="https://mercomindia.com/solar-imports-declined-exports-surged-2019/" target="_blank" rel="noopener noreferrer">India imported</a> solar cells and modules worth $2.17 billion, a drop of almost 16% compared to <a href="https://mercomindia.com/solar-cell-module-imports-decline-2018/" target="_blank" rel="noopener noreferrer">CY 2018</a>. In CY 2018, the Indian solar sector had imported solar modules and cells totaling nearly $2.59 billion (~₹184.57 billion), a 37% decline from the $4.12 billion (~₹269 billion) recorded during the preceding year (CY 2017). Solar imports have now declined for two years in a row because of a decrease in installations and the imposition of safeguard duty. While imports from countries like Vietnam and Thailand saw an exponential growth of 217% and 267% respectively, imports from China, Taiwan, and Malaysia declined by 21%, 81%, and 79%, respectively, as compared to CY 2018. 
Mercom recently <a href="https://mercomindia.com/mnre-states-renewable-manufacturing-export-hubs/" target="_blank" rel="noopener noreferrer">reported</a> that MNRE Secretary Anand Kumar tweeted that all states and ports in the country are expected to identify land parcels ranging between 50 and 500 acres in size in their regions that can be used to set up renewable energy manufacturing and export services hubs.
In Mercom’s <a href="https://mercomindia.com/mnre-seci-address-indian-solar-industry/" target="_blank" rel="noopener noreferrer">recent</a> webinar covering market trends in the renewable industry, the Secretary reiterated this, stating that the ministry had plans to bring the entire renewable energy equipment ecosystem under the ‘Make in India’ initiative.
Earlier, Mercom had reported that the Ministry of New and Renewable Energy <a href="https://mercomindia.com/mnre-opens-facilitation-center-renewable-industry-investors/" target="_blank" rel="noopener noreferrer">opened</a> an Industry and Investors’ Facilitation Centre, which would work as a focal point to provide all the information regarding programs and policies of the government and resolve issues related to renewable energy investors and industry.

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