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


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					</table><p><a href="https://www.mercomindia.com/pm-surya-ghar-government-buildings/" target="_blank" rel="noopener"><strong>The Ministry of New and Renewable Energy plans to install rooftop solar systems on all central and state government buildings by December 2025 as part of the recently approved PM Surya Ghar: Muft Bijli Yojana.</strong></a> With an outlay of ₹750 billion (~$9.04 billion), the program aims to increase residential rooftop solar capacity and empower households to generate electricity until 2026-27. The document said that the rooftops of all government buildings, including those of autonomous bodies and subordinate offices, will be equipped with solar panels to the maximum extent technically feasible.</p>
<p><a href="https://www.mercomindia.com/nvvn-floats-tender-for-1-3-mw-rooftop/" target="_blank" rel="noopener"><strong>NTPC Vidyut Vyapar Nigam has floated a tender for installing grid-connected rooftop solar systems of a cumulative capacity of 1.3 MW on various buildings of the Goa Shipyard. The last date to submit the bids is July 24, 2024.</strong></a> Bids will be opened the next day. The scope of work includes the design, engineering, supply, installation, testing, and commissioning of the project’s various capacities, the connections to the existing mains/ACDB, and interfacing internal electrical loads with the project licensee’s network/electrical loads. Bidders must operate and maintain the project for ten years.</p>
<p><a href="https://www.mercomindia.com/thdc-consultancy-floating-solar/" target="_blank" rel="noopener"><strong>THDC India has invited bids to empanel a technical consulting agency to prepare feasibility reports for floating solar power projects at various locations across India for three years.</strong></a> The projects are intended to be developed in Uttarakhand, Uttar Pradesh, Chhattisgarh, Madhya Pradesh, Karnataka, Kerala, Rajasthan, and Maharashtra. The last day to submit the bids is August 5, 2024. Bids will be opened the next day. Bidders must submit an earnest money deposit of ₹86,000 (~$1,029).</p>
<p><a href="https://www.mercomindia.com/dhash-pv-solar-junction-box-plant-in-karnataka/" target="_blank" rel="noopener"><strong>DhaSh PV Technologies has announced an investment of ₹3.46 billion (~$41.4 million) in a solar photovoltaic (PV) manufacturing plant in the Sira Industrial Area of Tumkur, Karnataka.</strong></a> The facility will focus on producing solar PV junction boxes with an annual capacity of 50 GW. The plant will also manufacture 1,000 km of solar cables and fully indigenous diodes daily. A solar PV junction box is an integral part of solar panels. This Balance of System component is an enclosure housing all the electrical bits in a solar panel.</p>
<p><a href="https://www.mercomindia.com/mnre-450000-mtpa-green-hydrogen/" target="_blank" rel="noopener"><strong>The Ministry of New and Renewable Energy has issued guidelines for incentive disbursement for up to 450,000 metric tons per annum of green hydrogen production under Component II of the Strategic Interventions for Green Hydrogen Transition (SIGHT) program.</strong></a> The SIGHT program is a key component of the ₹130.5 billion (~$1.57 billion) National Green Hydrogen Mission, which aims to catalyze the growth of the green hydrogen economy in India from fiscal year 2025-26 through 2029-30. Component I focuses on providing electrolyzer manufacturing incentives, with a financial outlay of ₹44.4 billion (~$541.2 million). Component II aims to support green hydrogen production.</p>


Daily News Wrap-Up PM Surya Ghar to Cover Government Buildings


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					</table><p><a href="https://www.thdc.co.in/" target="_blank" rel="noopener">THDC India</a> has invited bids from consultants to prepare a detailed project report (DPR) to develop the 1,292 MW Phase-I ultra mega solar power park within a 2 GW solar park in Jaisalmer, Rajasthan.</p>
<p>The project’s estimated cost is ₹10.17 million (~$122,416). The DPR should be submitted within 90 days of receiving the work order.</p>
<p>The last day to submit the bids is February 20, 2024. Bids will be opened the next day.</p>
<p>Bidders must furnish an earnest money deposit of ₹102,000 (~$1,227). Selected bidders must submit 5% of the contract value as a performance bank guarantee within 15 days after issuance of the letter of award.</p>
<p>The work is to be carried out at Bodana Village, Nachana-I Tehsil, in Jaisalmer. The proposed project area is about 10,000 acres.</p>
<p>The DPR should comprise of site engineering assessment, soil testing reports, assessment of solar radiation resources, soil testing, topography details, hydrology data, load flow assessment for the proposed substation, environmental impact assessment, and social impact assessment, among others.</p>
<p>The selected bidder must also provide the estimated solar power cost in the park and the schedule for the execution of the project. They must also provide details on the availability of transmission capacity up to the termination point both within the state as well as interstate.</p>
<p>In case of a delay, liquidated damages equivalent to 0.5% of the total contract value will be applicable per week. A maximum of up to 10% of the total contract value will be levied.</p>
<p>Recently, THDC India <a href="https://www.mercomindia.com/thdc-consultancy-solar-park-rajasthan/" target="_blank" rel="noopener">invited</a> bids from consultants to prepare a DPR to develop a 1 GW Phase-I ultra mega solar power park within a 2 GW solar park in Jaisalmer, Rajasthan.</p>
<p>In July last year, THDC India <a href="https://www.mercomindia.com/thdc-consultancy-tender-land-2-gw-solar-parks" target="_blank" rel="noopener">invited</a> bids to empanel consultants to acquire land to develop 2,000 MW ultra-renewable energy parks in Rajasthan under the Ministry of New and Renewable Energy’s Solar Park Program.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of the real-time tender activity.</p>


THDC Issues Consultancy Tender for 1.3 GW Solar Park in Rajasthan


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					</table><p><a href="https://www.mercomindia.com/budget-2024-free-electricity-rooftop-solar-vgf-offshore-wind" target="_blank" rel="noopener"><strong>Union Finance Minister Nirmala Sitharaman unveiled key measures during the presentation of the 2024 interim budget, signaling a significant push towards sustainable energy and electric mobility.</strong></a> One of the standout announcements involves providing up to 300 units of free electricity every month to 10 million households through rooftop solarization. This move aims not only to make clean energy accessible to a large segment of the population but also to encourage the widespread adoption of solar power.</p>
<p><a href="https://www.mercomindia.com/servotech-contract-deploy-1800-ev-chargers-bpcl" target="_blank" rel="noopener"><strong>Servotech Power Systems, an electric vehicle (EV) charger and energy efficiency products manufacturer has won an order for 1,800 DC Fast EV Chargers to be installed across India</strong></a> from government-owned oil and gas major Bharat Petroleum Corporation. The order is valued at ₹1.2 billion (~$14.46 million) and encompasses the installation and commissioning of two charger variants, 60 kW and 120 kW in the 70:30 ratio.</p>
<p><a href="https://www.mercomindia.com/sales-volume-amara-rajas-q3-profits-up-15" target="_blank" rel="noopener"><strong>Amara Raja Energy &amp; Mobility recorded a net profit of ₹2.55 billion (~$30.7 million) during the third quarter of the financial year 2024, a year-over-year (YoY) increase of 14.8%,</strong></a> primarily driven by the increased sales volumes of automotive batteries in both domestic and international markets. During the quarter, the company posted revenue of ₹30.68 billion (~$369.7 million), a YoY increase of 15% from ₹26.64 billion (~$321 million) fueled by the increased demand for lead-acid batteries.</p>
<p><a href="https://www.mercomindia.com/jabalpur-municipal-tender-for-10-mw-solar-projects" target="_blank" rel="noopener"><strong>The Municipal Corporation of Jabalpur has invited proposals from eligible consultants to set up 10 MW solar projects under captive/net metering mode to supply power to its high-tension connections.</strong></a> The last date for submitting bids is February 29, 2024. Bids will be opened on March 1. The corporation is responsible for supplying water to residents within its jurisdiction and operates multiple water pumping stations equipped with electrical connections at 132/33 or 11 kV Voltage. The corporation aims to transition to solar energy, within the existing regulations, to meet its electrical energy needs as much as possible.</p>
<p><a href="https://www.mercomindia.com/thdc-issues-floating-solar-park-in-karnataka" target="_blank" rel="noopener"><strong>THDC India has invited bids from consultants for the preparation of a detailed project report and bathymetric survey of a 100 MW floating solar power project at the Kadra Dam reservoir in Karnataka</strong></a>. The last date for submission of bids is September 15, 2024. Bids will be opened the next day. The study’s scope encompasses an in-depth project report, incorporating an evaluation of suitability, engineering surveys, cost estimates, and assessments of technical, economic, and financial viability for solar power projects.</p>


Daily News Wrap-Up: Budget 2024 Highlights


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					</table><p><a href="https://www.thdc.co.in/" target="_blank" rel="noopener">THDC India</a> has issued a request for proposals from consultants and expert agencies to create a feasibility report to set up floating solar power projects on reservoirs in the Godavari Marathwada region of Maharashtra.</p>
<p>The last date for submission of bids is December 26, 2023. Bids will be opened on the same day.</p>
<p>Bidders must submit an earnest money deposit (EMD) of ₹123,000 (~$1,474.9).</p>
<p>For bidders registered as micro and small enterprises in India, the EMD will not be applicable.</p>
<p>They must also provide a performance security, equivalent to 10% of the contract price (including GST), at least seven days before signing the contract, which must occur within 30 days of issuing the letter of award.</p>
<p>Bidders must familiarize themselves with local conditions at their own expense and consider these factors when preparing their proposals. It is recommended that bidders visit the project site and attend the pre-bid conference to gather information on the local conditions before submitting their proposals.</p>
<p>Bidders must be private, public, or government-owned entities. Joint ventures or consortia are allowed, but the maximum number of constituents or partners, including the lead partner, is restricted to two.</p>
<p>The average annual financial turnover of the bidders must be not less than ₹3.7 million (~$44,371), including GST, over the last three financial years, concluding on March 31 of the previous financial year (ending March 2023).</p>
<p>The net worth of the bidders should be at least 100% of their paid-up share capital as of the last day of the preceding financial year.</p>
<p>Bidders must have at least three years of experience offering consultancy services related to pre-feasibility studies or detailed project reports (DPR) for floating or ground-mounted solar power projects within or outside India.</p>
<p>They should have completed at least two pre-feasibility reports or DPR for grid-connected floating solar power projects with an installed capacity of not less than 10 MW. These reports must have been submitted to the client and accepted within the last seven years before the date of the tender&#8217;s publication.</p>
<p>In July this year, THDC India <a href="https://www.mercomindia.com/thdc-consultancy-tender-land-2-gw-solar-parks" target="_blank" rel="noopener">invited</a> bids to empanel consultants to acquire land to develop 2,000 MW ultra-renewable energy parks in Rajasthan under the Ministry of New and Renewable Energy’s (MNRE) Solar Park Program.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of real-time tender activity.</p>


THDC Issues Consultancy Tender for Floating Solar Projects in Maharashtra


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					</table><p><a href="https://www.mercomindia.com/corporate-funding-solar-rises-55-9m-2023/" target="_blank" rel="noopener"><strong>The total global corporate funding in the solar sector during the nine months (9M) of 2023, including venture capital investments, public market funding, and debt financing, reached $28.9 billion, a 55% year-over-year (YoY) increase from $18.7 billion.</strong></a> The numbers were revealed in Mercom Capital Group’s newly released <a href="https://mercomcapital.com/product/9m-q3-2023-solar-funding-ma-report/">9M and Q3 2023 Solar Funding and M&amp;A Report</a>. Despite the surge in funding amounts, there was a 5% YoY decline in the number of deals. During 9M 2023, 124 deals were announced against 131 deals during the corresponding period in 2022.</p>
<p><a href="https://www.mercomindia.com/sjvn-floats-projects-in-punjab-and-himachal-pradesh" target="_blank" rel="noopener"><strong>SJVN Green Energy invited bids for developing grid-connected solar power projects with a cumulative capacity of 18 MW at four locations at Bhakra Beas Management Board, including three years of comprehensive operation and maintenance.</strong></a> The last date for the submission of bids is November 7, 2023. Bids will be opened the same day. The scope of the work includes design, engineering, supply, erection, testing, and commissioning of the solar power projects. Bidders must pay ₹5,000 (~$60.05) +18% GST as the bid document fee. They must also furnish ₹23 million (~$276,268) as an earnest money deposit.</p>
<p><strong><a href="https://www.mercomindia.com/cabinet-green-energy-corridor-in-ladakh" target="_blank" rel="noopener">The Cabinet Committee on Economic Affairs has given its approval for the implementation of the Green Energy Corridor Phase-II – Inter-State Transmission System project</a></strong> to facilitate the evacuation of 13 GW of renewable power in the region of Ladakh. The project, scheduled for completion by the financial year 2029-30, comes with an estimated cost of ₹207.74 billion (~$2.4 billion), with Central Financial Assistance covering 40% of the total project cost, amounting to ₹83.09 billion (~$998 million).</p>
<p><a href="https://www.mercomindia.com/thdc-tender-floating-solar-uttar-pradesh" target="_blank" rel="noopener"><strong>THDC India invited bids for the engineering, procurement, and construction of an 11 MW floating solar power project at the Khurja Super Thermal Power Project site at Bulandshahr, Uttar Pradesh.</strong></a> The project must be commissioned within nine months of receiving the work order. The developer must oversee the project’s operation and maintenance for three years. The project’s estimated cost is ₹635.6 million (~$7.6 million). The last day to submit the bids is November 20, 2023. The bids will be opened the next day.</p>
<p><a href="https://www.mercomindia.com/discoms-liabilities-rise-799-billion-october/" target="_blank" rel="noopener"><strong>Distribution companies owed power generators ₹799.77 billion (~$9.6 billion) in total dues for the monthly billing cycle in October 2023.</strong></a> The current outstanding dues, excluding the latest monthly dues, are ₹232.62 billion (~$2.8 billion). The overdue before the trigger date is ₹232.46 billion (~$3.3 billion), after which the amount will increase by ₹160.1 million (~$1.9 million) as the late payment surcharge would become applicable. The trigger date is one month after the due date of payment or two and a half months after the presentation of the bill by the generating company, whichever is later.</p>
<p><a href="https://www.mercomindia.com/sidbi-fund-support-scalable-green-technology-solutions/" target="_blank" rel="noopener"><strong>Small Industries Development Bank of India (SIDBI) launched a “Decarbonization Challenge Fund” (DCF) to support innovative and scalable technologies and projects and solutions that are environment-friendly, clean, and have high impact potential.</strong></a> This competitive mechanism will crowd-source innovative solutions across themes that address industrial decarbonization challenges such as energy efficiency, renewable energy, clean transportation, pollution prevention control, and green buildings. DCF is being launched as part of SIDBI’s Partial Risk Sharing Facility for Energy Efficiency program and is supported by the World Bank.</p>
<p><a href="https://www.mercomindia.com/australia-funding-clean-hydrogen-program" target="_blank" rel="noopener"><strong>The Australian Renewable Energy Agency invited an expression of interest from government entities and private companies for availing of funds for large-scale green hydrogen projects under the AU$2 billion (~$1.3 billion) Hydrogen Headstart Program.</strong></a> The program aims to advance Australia’s hydrogen industry, strengthen clean energy, and integrate into global hydrogen supply chains. The deadline for submitting expressions is November 14, 2023. They should encompass a project plan, financial model, budget, and agreements with off-takers.</p>


Daily News Wrap-Up: Solar Corporate Funding Rises 55% YoY in 9M 2023


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					</table><p><a href="https://www.voyants.in/" target="_blank" rel="noopener">Voyants Solutions</a>, a consulting firm, has been declared the winner in the auction conducted by <a href="https://tuscoltd.co.in/Index" target="_blank" rel="noopener">TUSCO</a>, a joint venture company of <a href="https://www.thdc.co.in/" target="_blank" rel="noopener">THDC India</a> and the Uttar Pradesh New and Renewable Energy Development Agency (<a href="http://upneda.org.in/" target="_blank" rel="noopener">UPNEDA</a>), to select an environmental and social impact assessment consultant for the development of 600 MW of solar power projects in the Jhansi district of Uttar Pradesh.</p>
<p>Voyants Solutions quoted a price of ₹2.53 million (~$30,437) in the auction.</p>
<p>The other two bidders were Greencindia Consulting and TUV SUD South Asia, who quoted ₹4.31 million (~$51,852) and ₹4.62 million (~$55,581), respectively.</p>
<p>The tender was <a href="https://www.mercomindia.com/tusco-consultancy-600-mw-solar-projects-uttar-pradesh" target="_blank" rel="noopener">floated</a> in February this year.</p>
<p>The solar park will require an estimated area of 3,000 acres spread across eight villages of Jhansi district in Uttar Pradesh.</p>
<p>Last year, TUSCO had <a href="https://www.mercomindia.com/daily-news-wrap-up-tusco-signs-advisory-solar-projects" target="_blank" rel="noopener">signed</a> an advisory mandate under which the International Finance Corporation for supporting TUSCO in developing 600 MW of solar power projects on a public-private partnership model. The solar projects were to be set up under the Ultra Mega Renewable Energy Power Park program of the Ministry of New and Renewable Energy (MNRE).</p>
<p>The consultant will report to TUSCO for the execution of the scope of services and deliver the output under its direct supervision.</p>
<p>TUSCO has stated that for any delay attributable to the consultant beyond the scheduled period of completion of the entire work, the consultant will pay the owner liquidated damages at the rate of 0.5% of the contract value per week, subject to a maximum of 10% of the contract value.</p>
<p>In July this year, THDC India <a href="https://www.mercomindia.com/thdc-consultancy-tender-land-2-gw-solar-parks" target="_blank" rel="noopener">invited</a> bids to empanel consultants for the acquisition of land to develop 2,000 MW ultra mega renewable energy parks in Rajasthan under MNRE’s Solar Park Program.</p>
<p>Earlier, TUSCO had <a href="https://www.mercomindia.com/tusco-invites-bids-for-consultants-for-floating-solar-projects" target="_blank" rel="noopener">invited</a> bids to appoint a consultant to prepare pre-feasibility and detailed project reports for the development of floating solar power projects in Uttar Pradesh.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of real-time tender activity.</p>


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