IEX Green Energy Market Jumps 30% YoY in June  

Daily News Wrap-Up: Delhi Metro Invites Bids for 5 MW Rooftop Solar Projects

Bajel Projects Wins Renewable Energy Transmission EPC Order

$1.2 Trillion Needed for Battery Storage to Support Renewables by 2034: Report

Germany Awards 488 MW Solar Plus Storage Projects in Innovation Auction

NVVN Issues Tender to Empanel EPC Service Providers for Solar Projects

IFC, IndiGrid to Develop 180 MW/360 MWh Standalone BESS Project in Gujarat

CleanMax, Toyota Tsusho to Develop 300 MW of Renewable Energy Projects

Delhi Metro Floats Tender for 5 MW Rooftop Solar Projects

Enhancing Grid Stability and Expanding Renewable Energy Integration

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					</table>Electric vehicle (EV) sales in India reached 530,386 units in the second quarter (Q2) of 2025, an over 34% year-over-year (YoY) increase from 396,719 units.
EVs accounted for 8% of the overall automobile sales, which totaled 6,554,775 units in Q2 2025, according to data released by the <a href="https://morth.nic.in/" target="_blank" rel="noopener">Ministry of Road Transport and Highways</a> through its <a href="https://vahan.parivahan.gov.in/vahan4dashboard/vahan/dashboardview.xhtml" target="_blank" rel="noopener">Vahan Dashboard</a>.
India now has over 6.44 million registered EVs.
Electric Two-Wheelers
Electric two-wheelers comprised nearly 56% (298,690) of the total EVs sold during the quarter.
<a href="https://www.tvsmotor.com/" target="_blank" rel="noopener">TVS</a> led the segment with sales of 69,997 units, followed by <a href="https://www.bajajauto.com/" target="_blank" rel="noopener">Bajaj Auto</a> with 64,099 units. <a href="https://www.olaelectric.com/" target="_blank" rel="noopener">Ola</a> (58,534), <a href="https://www.atherenergy.com/" target="_blank" rel="noopener">Ather</a> (40,864), and <a href="https://www.heromotocorp.com/en-in.html" target="_blank" rel="noopener">Hero Motocorp </a>(20,997) were among the other companies that registered significant sales.
Electric Three-Wheelers
Electric three-wheelers constituted 36% (189,114) of all EVs sold in Q2 2025.
<a href="https://mahindralastmilemobility.com/" target="_blank" rel="noopener">Mahindra Last Mile Mobility</a> led this category, selling 19,489 units, followed by <a href="https://www.bajajauto.com/three-wheelers/ev-re" target="_blank" rel="noopener">Bajaj Auto</a> (18,282),  <a href="https://www.ycevehicles.com/" target="_blank" rel="noopener">YC Electric</a> (10,354),  <a href="https://www.saeraauto.com/" target="_blank" rel="noopener">Saera Electric Auto</a> (5,804), and <a href="https://www.citylifeev.com/" target="_blank" rel="noopener">Dilli Electric Auto</a> (5,166).
Electric Four-Wheelers
Electric four-wheelers accounted for 7% of the total sales, reaching 37,960 units.
<a href="https://www.tatamotors.com/" target="_blank" rel="noopener">Tata Motors</a> remained the most preferred electric four-wheeler automobile maker, with 13,120 units sold. <a href="https://www.mgmotor.co.in/" target="_blank" rel="noopener">MG Motor</a>  (11,538),  <a href="https://www.mahindra.com/our-business/automotive" target="_blank" rel="noopener">Mahindra &amp; Mahindra</a> (8,348), <a href="https://www.hyundai.com/in/en" target="_blank" rel="noopener">Hyundai</a> (1,884), and <a href="https://bydautoindia.com/" target="_blank" rel="noopener">BYD India</a> (1,324) were among the other top performers.
EV sales in India <a href="https://www.mercomindia.com/electric-vehicle-sales-q1-2025/" target="_blank" rel="noopener">reached</a> 514,198 units in Q1 2025, an over 3% YoY from 499,930 units.
The Ministry of Heavy Industries (MHI) recently <a href="https://www.mercomindia.com/government-opens-doors-to-global-electric-car-makers-with-portal-launch/" target="_blank" rel="noopener">launched</a> the application portal for the ‘Scheme to Promote Manufacturing of Electric Passenger Cars in India,’ inviting global and domestic manufacturers to establish EV production facilities in the country.
Companies seeking to participate in this program must <a href="https://www.mercomindia.com/heavy-industries-ministry-issues-guidelines-for-electric-car-manufacturing/" target="_blank" rel="noopener">commit</a> ₹41.5 billion (~$486 million) within three years from the application approval date to establish EV manufacturing facilities for electric passenger cars.
MHI has <a href="https://www.mercomindia.com/mhi-mandates-100-dcr-requirement-for-18-ev-components-under-pm-e-drive" target="_blank" rel="noopener">mandated</a> a 100% domestic content requirement for 18 EV components under the two-wheeler, three-wheeler, and e-bus segments to be eligible for a subsidy under the PM E-Drive program.

Electric Vehicle Sales Clock 34% YoY Growth in Q2 2025

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					</table><a href="https://www.mercomindia.com/solar-tenders-auctions-q1-2023" target="_blank" rel="noopener">Solar tenders floated by various agencies in India rose 43% quarter-over-quarter to 13.8 GW in the first quarter (Q1) of 2023, according to Mercom India Research.</a> The preceding quarter (Q4 2022) saw tenders worth 9.7 GW. The average quarterly capacity tendered over the last year is similar to the trend in the two years (2018-2019) prior to Covid. However, the number of large tenders (&gt;500 MW) in Q1 2023 increased compared to the preceding quarter.
<a href="https://www.mercomindia.com/iex-5206-mu-renewable-fy23" target="_blank" rel="noopener">The Indian Energy Exchange (IEX) traded 5,206 million units (MU) of renewable energy during the financial year 2023, a 7.3% year-over-year (YoY) increase.</a> The exchange traded 391 MU of renewable energy in March 2023, a decline of 0.26% YoY and a growth of 15% month-over-month compared to 341 MU traded in February 2023.
<a href="https://www.mercomindia.com/tata-power-captive-solar-inox-air" target="_blank" rel="noopener">TP Saurya Bandita, a Tata Power Renewable Energy subsidiary, will build a 40 MW captive solar project for the industrial and medical gases producer Inox Air Products</a> to provide electricity to its air separation units in Dhule, Maharashtra. The project will help INOX reduce its carbon footprint by 48,000 tons annually.
<a href="https://www.mercomindia.com/tvs-motors-subsidiary-buys-ev-startup" target="_blank" rel="noopener">India-based two-wheeler maker TVS Motor Company said that its Singapore-based subsidiary would purchase a 25% ownership interest in Killwatt GmbH</a>, a German startup engaged in manufacturing electric mobility products and components. The total cost of the acquisition is approximately €2 million (~$2.1 million) and is expected to be completed by April 24, 2023.
<a href="https://www.mercomindia.com/us-clean-energy-coal-producing-areas" target="_blank" rel="noopener">The United States Treasury Department will provide incentives to developers under the Inflation Reduction Act for building clean energy projects and facilities</a> in communities with a historical connection to energy production. The developers would be entitled to up to a ten percentage point on top of the Investment Tax Credit and an increase of 10% for the Production Tax Credit.
<a href="https://www.mercomindia.com/pakistan-invites-600-mw-project-province" target="_blank" rel="noopener">Pakistan’s Alternative Energy Development Board has issued tenders to install 600 MW of solar photovoltaic power capacity in Kot Addu and Muzaffargarh districts in the province of Punjab.</a> The projects will be developed on a build, own, operate, and transfer basis for a concession term of 25 years. The last date for submitting bids has been extended to May 8, 2023. Bids will be opened the same day.
<a href="https://www.mercomindia.com/researchers-use-biomass-to-recover-metals-from-battery-waste" target="_blank" rel="noopener">Nanyang Technological University Singapore has partnered with Se-cure Waste Management, a Singapore-based battery recycling and processing firm, to recycle spent lithium-ion batteries</a> using biomass. The pilot project has a processing capability of 2,000 liters of shredded spent batteries mixed with solvents extracted from fruit peels. The team claims the project can help extract electrode materials, including cobalt, lithium, nickel, and manganese.

Daily News Wrap-Up: Solar Tenders Surge and Auctions Decline in Q1 2023

Here are some noteworthy cleantech announcements of the day from around the world:
Delhi’s Indira Gandhi International Airport (IGIA) is <a href="https://ddnews.gov.in/business/delhi%E2%80%99s-igi-airport-become-%E2%80%98net-zero-carbon-emission-airport%E2%80%99-2030" target="_blank" rel="noopener">set</a> to become a net-zero carbon emissions airport by 2030. IGIA has adopted technologically advanced measures such as electric vehicles and Taxibots. Taxibot is a semi-robotic vehicle used as a means of taxiing the plane to the runway. Taxibots have resulted in a significant reduction in aviation turbine fuel consumption by aircraft for ground movement. IGIA is a level 4+ (Transition) accredited airport under Airports Council International’s (ACIs) Airport Carbon Accreditation program last year.
Automaker TVS Motor Company has <a href="https://www.tvsmotor.com/Media/Press-Release/tvs-motor-company-signs-MOU-with-tamilnadu-government-for-investment-of-Rs-1200-crore-in-future-technologies-and-electric-vehicles" target="_blank" rel="noopener">signed</a> a memorandum of understanding with the Government of Tamil Nadu to invest ₹12 billion (~$161.32 million) in future technologies and electric vehicles (EV). The investment will be spread over four years and used to design, develop, and manufacture new products and expand capacity in the EV space. TVS had infused ₹300 million (~$4.08 million) in Bangalore-based EV startup Ultraviolette Automotive’s Series B funding round to increase its total stake to 29.48%.
Automotive component manufacturing company Minda Corporation has <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/a42963fd-8340-4c99-9edb-49bf03bb5c98.pdf" target="_blank" rel="noopener">agreed</a> to acquire a 19.94% stake in FP West Solar Private Limited for ₹21.5 million (~$289,019). The company will acquire 11,21,667 equity shares at an issue price of ₹19.2 (~$0.26) per share with a face value of ₹10 (~$0.13) each. FP West Solar is engaged in solar power generation. This investment is for purchasing power as a captive user for manufacturing units in Maharashtra. The acquisition is expected to be completed within 60 days.
Singapore-based clean energy solutions provider Sunseap Group will <a href="https://www.sunseap.com/sg/news/2021/sunseap-to-power-hyundai-motors-upcoming-innovation-centre-with-clean-energy.html" target="_blank" rel="noopener">provide</a> clean energy for the new Hyundai Motor Group Innovation Centre in Singapore (HMGICS). HMGICS will house Hyundai’s EV manufacturing facility in Singapore. Sunseap has signed a 20-year power purchase agreement to provide solar energy to the seven-story building. The solar company estimates that the rooftop solar system will generate 1.76 GWh of power per year, offsetting 1,247 tons of carbon emissions. Sunseap expects to complete the installation by July 2022. The Hyundai facility will research and develop future mobility technologies and produce up to 30,000 vehicles per year by 2025.
Energy storage solutions provider <a href="https://www.vflowtech.com/" target="_blank" rel="noopener">VFlowTech</a> has announced that it will be part of a tripartite project with Seoul National University of Science and Technology and Korean-based CompanyWE Inc to install self-reliant green EV charging infrastructure at existing gas stations in South Korea. VFlowTech will deploy its 500 kWh vanadium redox-flow energy storage system for renewable energy. The storage system for the electric car fast-charging infrastructure will use VFlowTech’s 150kW modular PowerCube batteries installed in a pilot implementation to meet the electrification needs of South Korea’s rapidly expanding EV market.

Daily News Wrap-Up: Delhi International Airport to Become Net-Zero by 2030

Automotive electrical components manufacturer <a href="https://www.lucas-tvs.com/" target="_blank" rel="noopener">Lucas TVS</a> and U.S.-based <a href="https://24-m.com/" target="_blank" rel="noopener">24M Technologies</a> plan to set up a ₹25 billion (~$342.33 million) gigafactory near Chennai to manufacture innovative and disruptive lithium-ion (Li-ion) battery cells based on SemiSolid platform technology.
The first plant will be set up in Thervoy Kandigai, Gummudipundi near Chennai, and Lucas TVS is expected to build other plants throughout India to support the growing energy storage, electric mobility, and lead-acid battery replacement markets.
Lucas TVS plans to grow the plant&#8217;s capacity to a globally competitive scale of 10 GWh in two stages. The Chennai plant is expected to begin commercial production in the second half of 2023.
Lucas TVS has plans to build products using different chemistries, including &#8216;pouch&#8217; and &#8216;prismatic&#8217; cell formats, with high energy density. The products will meet customer needs in e-mobility, stationary energy storage, including grid-scale markets, replacing lead-acid batteries.
Meanwhile, 24M maintains that its trademarked &#8216;SemiSolid&#8217; platform has significant benefits compared to conventional manufacturing processes. The technology, protected by more than 80 issued and 100 pending patents, offers a significantly simpler process flow reducing capital costs substantially.
According to 24M, its technology delivers a thicker electrode, increasing energy density and reducing materials costs. Apart from the cost advantages, the patented cell design is said to enhance safety, reliability, and traceability by virtually eliminating potential metal contamination, the most common cause of short circuits in conventional lithium-ion cells.
In addition to these benefits, the &#8216;SemiSolid&#8217; electrode eliminates binders and enables the simplest and most efficient recycling of rejected or end-of-life cells.
Chief managing director of Lucas TVS, T K Balaji, said, &#8220;We believe in investing in next-generation technologies, which is why we chose to partner 24M. We are confident that their innovative technology will enable us to provide our customers affordable e-mobility, lead-acid battery replacement, and storage solutions with improved quality and best-in-class safety.&#8221;
Chief executive officer of 24M, Naoki Ota said, &#8220;Our innovative SemiSolid™ technology and ongoing research and development (R&amp;D) investments will support Lucas TVS&#8217;s ambition to become a leader in the energy storage space for mobility, lead-acid battery replacement, storage, and grid-scale markets in India.&#8221;
Earlier this year, U.S.-based lithium-ion battery manufacturer Barrel Energy had <a href="https://mercomindia.com/barrel-energy-set-up-battery-manufacturing/" target="_blank" rel="noopener">signed</a> a memorandum of understanding with Hyderabad-based Roshan Energy Technologies to develop and manufacture lithium-ion batteries in India and North America.
In March 2020, United States-based XNRGI <a href="https://mercomindia.com/us-based-xnrgi-lithium-ion-factory-gurugram/" target="_blank" rel="noopener">announced</a> that the company had opened a high-temperature lithium-ion battery factory in Gurugram, India. The facility has 240 MWh of battery production capacity.
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