ACME Solar Holdings’ ₹29 Billion IPO to Hit the Market on November 6, 2024

Jodhpur DISCOM Tenders 333 MW Solar Projects Under PM KUSUM

CIE Automotive to Procure Power from ReNew’s 7.8 MW Captive Solar Project

John Cockerill to Supply Electrolyzers to AM Green’s Ammonia Project

Varroc to Procure Power from AMPIN’s 27 MW Solar Project in Maharashtra

JinkoSolar’s Revenue Drops 23% YoY in Q3 Due to Lower Module Prices

First Solar Revenue Falls Short in Q3, Revises 2024 Guidance Amid Sector Pressures

Tata Power Records 20th Consecutive Quarter of Profit in Q2 FY 2025

SECI Floats Tender to Procure 1.2 GW Round-the-Clock Renewable Power

Daily News Wrap-Up: APTEL Criticizes MERC for Denying Petitioner Relief


					<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/2024/05/amazon_polly_66702.mp3?version=1717050708">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://www.mercomindia.com/seci-invites-bids-1-2-gw-grid-solar" target="_blank" rel="noopener"><strong>Solar Energy Corporation of India has invited bids to set up 1.2 GW of interstate transmission system-connected</strong></a> solar photovoltaic projects across India under Tranche XVI on a build, own, operate basis. The last date to submit bids is July 12, 2024. Bids will be opened on July 18, 2024. Bidders can quote for a minimum capacity of 50 MW and a maximum of 600 MW per project.</p>
<p><a href="https://www.mercomindia.com/bugs-glitches-national-portal" target="_blank" rel="noopener"><strong>Summer is the peak season for Surendra Chaudhary, a rooftop solar installer in Jaipur, Rajasthan, known for temperatures that routinely cross 40° C</strong></a>, leading to cooling needs that push up electricity bills. But business has been faltering as the National Portal, which serves as a platform to commission residential solar systems, is marred by bugs and glitches.</p>
<p><strong><a href="https://www.mercomindia.com/module-manufacturer-alpex-2h-fy-2024" target="_blank" rel="noopener">Greater Noida-based solar module manufacturer Alpex Solar has recorded a total revenue of ₹2 billion (~$24.05 million)</a> </strong>in the second half of the financial year 2024, a year-over-year decline of 6% compared to ₹2.13 billion (~$25.61 million). The company recorded a net profit of ₹189.44 million (~$2.28 million) in 2H FY 2024, a 149% YoY increase compared to ₹76.16 million (~$915,824).</p>
<p><strong><a href="https://sr.indianrailways.gov.in/" target="_blank" rel="noopener">The Southern Railway has invited bids to set up grid-connected rooftop solar power projects of a cumulative capacity of 1.55 MW</a></strong> at various service buildings and railway colonies in the Chennai division. The successful bidder will oversee the design, supply, erection, testing, and commissioning of the projects. The value of the project is ₹99.6 million (~$1.19 million).</p>
<p><strong><a href="https://www.mercomindia.com/inox-wind-raises-9-billion-reduce-debt" target="_blank" rel="noopener">Inox Wind Energy, the promoter of Inox Wind, has raised around ₹9 billion (~$108.05 million) through the sale of equity shares of Inox Wind</a></strong> via block deals on the stock exchanges. The funds raised are proposed to be infused into Inox Wind to reduce its debt and augment the company’s working capital needs to strengthen its balance sheet further.</p>
<p><a href="https://www.mercomindia.com/jakson-green-sustainability-boost-from-hsbc" target="_blank" rel="noopener"><strong>Jackson Green, the renewable energy arm of the Jakson Group, has obtained a sustainable trade facility of ₹600 million</strong></a> (~$7.1 million) from <a href="https://www.hsbc.co.in/">HSBC India</a>. The trade facility will help bolster the company’s operational needs within the renewable energy sector in India and overseas.</p>
<p><strong><a href="https://www.mercomindia.com/borosil-swings-to-loss-higher-expenses" target="_blank" rel="noopener">Solar glass manufacturer Borosil Renewables slipped into a net loss of ₹133.7 million (~$16.5 million) in the fourth quarter of the financial year 2024</a></strong> from a profit of ₹116.9 million (~$14.4 million) last year, hurt by higher costs of materials, power, and fuel, finance costs, and depreciation expenses.</p>
<p><strong><a href="https://www.mercomindia.com/amara-rajas-q4-revenue-climbs" target="_blank" rel="noopener">Battery manufacturer Amara Raja Energy &amp; Mobility reported a 15% year-over-year increase in revenue to ₹27.96 billion</a></strong> (~$338 million) for the fourth quarter of 2023, while profit before tax rose 55% to ₹3.05 billion (~$37 million). The company said the robust performance was driven by momentum across both the lead acid battery business and the new energy business, where consolidated growth stood at 13%.</p>


Daily News Wrap-Up: SECI Invites Bids to Set up 1.2 GW Solar Projects


					<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/2024/05/amazon_polly_66672.mp3?version=1716972809">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The <a href="https://sr.indianrailways.gov.in/" target="_blank" rel="noopener">Southern Railway</a> has invited bids to set up grid-connected rooftop solar power projects of a cumulative capacity of 1.55 MW at various service buildings and railway colonies in the Chennai division.</p>
<p>The successful bidder will oversee the design, supply, erection, testing, and commissioning of the projects.</p>
<p>The value of the project is ₹99.6 million (~$1.19 million). Bidders must submit an earnest money deposit of ₹648,000 (~$7,792). The last date to submit bids is June 14, 2024.</p>
<p>Bidders should have completed either three similar works, each costing not less than 30% of the advertised value of the tender, two similar works amounting to 40% of the advertised value, or one similar work costing 60% of the advertised value of the tender in the last seven years.</p>
<p>A similar nature of work here refers to the completion of works of supply, installation, testing, and commissioning of solar PV power generating systems of at least 20% of the tendered capacity of the solar plant to central, state government, public sector undertakings or public listed company having average annual turnover of ₹5 billion (~66.6 million) and above in the last three financial years.</p>
<p>Bidders must also showcase a minimum average contractual turnover of the advertised value of the tender and the number of years prescribed for the completion of work for which bids have been invited.</p>
<p>The successful bidder must complete the project within 180 days from the contract’s award date. Joint venture firms or entities can participate in the tender.</p>
<p>In April, the Southern Railway <a href="https://www.mercomindia.com/southern-railway-rooftop-solar-chennai" target="_blank" rel="noopener">invited</a> bids for installing 1.2 MW rooftop solar projects in Perambur, Chennai, under the renewable energy service company model.</p>
<p>This follows the tender <a href="https://www.mercomindia.com/railway-rooftop-solar-three-states" target="_blank" rel="noopener">floated</a> by the South Eastern Railway for setting up 8.38 GW of grid-connected rooftop solar power projects in Odisha, Jharkhand, and West Bengal.</p>
<p>Subscribe to Mercom’s <a href="https://www.mercomindia.com/product/india-solar-tender-tracker" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of tender activity in real time.</p>


Southern Railway Invites Bids for Rooftop Solar Projects in Chennai


					<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="http://mercomindia.com/wp-content/uploads/2022/08/amazon_polly_39525.mp3?version=1660204950">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://sr.indianrailways.gov.in/index.jsp" target="_blank" rel="noopener">Southern Railway</a> is saving ₹20 million (~$251,388) annually on its power bills by opting for solar energy.</p>
<p>The South Zone of Indian Railways installed 192 kW of solar systems during the financial year (FY) 2021-22, taking the total installed capacity of solar plants to 5.06 MW, generating 5.473 million units (MU) of energy during the year. The zone saved ₹23.86 million (~$300,111) in electricity bills during the year.</p>
<p>Since deploying the solar projects in 2017-18, Southern Railway generated 16.309 MU of solar energy up to June 2022, with cumulative savings of around ₹64.55 million (~$811,911).</p>
<p>According to a recently released statement by Southern Railway, solar systems have been installed at Dr. MGR Chennai Central, MMC complex, Katpadi, Tambaram, Mambalam, Chief Workshop Manager’s Office at Trichy Golden Rock Workshop, Level Crossing Gates in Nagercoil-Thiruvananthapuram section, Signal &amp; Telecom Workshop at Podanur, Salem Junction, Namakkal, Tiruppur, Parli, and Lakkiti.</p>
<p>Solar systems have also been installed in two suburban stations of Guindy and Chengalpattu and Divisional Railway Managers’ offices in Tiruchchirappalli and Madurai.</p>
<p>The zone has planned to install solar projects on its vacant land and private land adjacent to the traction substations of the Southern Railway. The energy generated will feed the traction loads resulting in considerable savings in energy bills.</p>
<p><strong>Zone harnessed 25.696 MU through windmills in FY ‘22</strong></p>
<p>Southern Railway commissioned five windmills of 2.1 MW capacity each, totaling 10.5 MW, in January 2019 at the cost of ₹740 million (~$9.30 million). In FY ‘22, the energy harnessed by the zone from windmills was 25.686 MU, leading to savings of ₹145.4 million (~$1.83 million).</p>
<p>The zone has deployed windmills at Kayathar (near Gangai Kondan/Kadambur railway stations) in the Tuticorin district.</p>
<p>Until July 2022, Southern Railway harnessed 91.564 MU of energy through windmills, resulting in savings in energy bills worth ₹485.4 million (~$6.11 million). On July 13, the five windmills generated 2,61,412 units of energy.</p>
<p>The green energy generated by the zone from windmills fulfilled 1.86% of the traction energy requirement for operating electric trains during FY ’22. About 2.12% of the energy requirement for traction and non-traction purposes was met from green energy generated by solar and wind plants.</p>
<p>In July, REMC Limited, a joint venture of Indian Railways and RITES, <a href="https://mercomindia.com/indian-railways-tender-1-gw-round-the-clock-power/" target="_blank" rel="noopener">invited</a> bids to procure 1 GW of round-the-clock power from grid-connected renewable projects with or without storage for 25 years.</p>
<p>The agency also <a href="https://mercomindia.com/railways-invites-bids-solar-projects/" target="_blank" rel="noopener">invited</a> bids to set up 1.548 GW of ground-mounted solar power projects near traction substations all over India.</p>


Solar Adoption Has Helped Southern Railway Save ₹20 Million Annually in Power Bills

southern-railway

Get the most relevant India solar and clean energy news.

RECENT POSTS