Mercom Research Focus
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The Growing Market for Solar Open Access in Uttar Pradesh

Uttar Pradesh recorded the highest quarter-over-quarter (QoQ) growth rate of 4,042% in solar open access installations in the second quarter (Q2) of 2024, according to Mercom’s Q2 2024 India Solar Open Access Market Report. ...

September 18, 2024

Energy Storage

Renewable Energy Developers in Limbo as PPA-PSA Delays Mount

Amid surging demand for renewable energy in India, delays in finalizing Power Sale Agreements (PSA) and Power Purchase Agreements (PPA) are creating significant obstacles for developers and policymakers alike. In April 2023, the M...

September 16, 2024

Mercom Research Focus

Average Cost of Large-Scale Solar Projects Dropped by 26% YoY in Q2

The average cost of large-scale solar projects in India fell 2% quarter-over-quarter (QoQ) and 25.7% year-over-year (YoY) in the second quarter (Q2) of 2024. Since Q1 2023, large-scale solar project costs have dropped for six stra...

September 12, 2024

Mercom Research Focus

India’s Solar Cell and Module Imports Drop Sharply in Q2 2024

India imported solar cells and modules worth over $774.9 million (~₹64.6 billion) in the second quarter (Q2) of the calendar year 2024, down 16.4% year-over-year (YoY), according to data from the Department of Commerce. Solar modu...

September 10, 2024

Latest News

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RECPDCL Invites Bids to Evacuate 3.5 GW of Renewable Energy from Gujarat

The REC Power Development and Consultancy (RECPDCL) has invited bids to  set up an Inter-State Transmission (ISTS) System to evacuate up to 3.5 GW of renewable energy from Lakadia in Gujarat. The last date to submit bids is November 11, 2024. Bids...

September 19, 2024

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NTPC Green Energy to Raise $1.19 Billion via Initial Public Offering

NTPC Green Energy, a subsidiary of NTPC, has filed a draft red herring prospectus (DRHP) to raise ₹100 billion (~$1.19 billion) through an Initial Public Offering (IPO). The IPO will comprise a fresh issue of up to 10,000 equity shares of face value...

September 19, 2024

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PGCIL Bags Project to Evacuate 5.5 GW Renewable Energy from Rajasthan

Power Grid Corporation of India (PGCIL) has won an inter-state transmission system (ISTS) project to evacuate 5.5 GW of renewable energy from the Jaisalmer/Barmer Complex. REC Power Development and Consultancy (RECPDCL) conducted the tariff-based...

September 19, 2024

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Tata Power Renewable Secures 400 MW Wind-Solar Hybrid Project from MSEDCL

Tata Power Renewable Energy (TPREL) has won a contract to develop a 400 MW wind-solar hybrid project from Maharashtra State Electricity Distribution Company (MSEDCL). This project marks TPREL’s largest renewable energy venture in Maharashtra...

September 19, 2024

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PFC Invites Bids for Evacuating 3 GW of Renewable Energy from Gujarat

PFC Consulting, a wholly-owned subsidiary of Power Finance Corporation (PFC), has invited bids to select a transmission service provider to establish an inter-state transmission system (ISTS) to evacuate 3 GW of renewable energy from the Raghanesda...

September 19, 2024

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NVVN Issues Rate Contract Tenders for Rooftop Solar Systems

NTPC Vidyut Vyapar Nigam (NVVN), a wholly-owned subsidiary of NTPC, has issued tenders for the selection and discovery of the lowest rates for rate contracts for the engineering, procurement, and construction (EPC) of grid-connected rooftop solar...

September 19, 2024

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Daily News Wrap-Up: Solar Open Access Installations Surge in Uttar Pradesh

Uttar Pradesh recorded the highest quarter-over-quarter (QoQ) growth rate of 4,042% in solar open access installations in the second quarter (Q2) of 2024, according to Mercom’s Q2 2024 India Solar Open Access Market Report. In Q2 of 2024, about 1.8...

September 19, 2024

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Rajasthan Regulator Approves Tariffs for Solar Projects Under KUSUM

The Rajasthan Electricity Regulation Commission (RERC) has approved the final levelized tariff for Jaipur Vidyut Vitran Nigam’s (JVVNL) and six projects of Jodhpur Vidyut Vitran Nigam’s (JdVVNL) solar projects under Component-C (Feeder...

September 18, 2024

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IREDA Invites Bids to Raise $113 Million to Fund Renewable Energy Projects

The Indian Renewable Energy Development Agency (IREDA) has invited bids from banks and financial institutions to raise term loans amounting to ¥16 billion(~ $113.3 million) with an additional greenshoe option. The last date for submitting the bids...

September 18, 2024

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Gautam Solar Ventures into Solar Cell Manufacturing with ₹10 Billion Investment

New Delhi-based solar module manufacturer Gautam Solar has announced a foray into solar cell manufacturing by investing ₹10 billion (~$119.4 million) in a 2 GW solar cell facility. The company aims to include its solar cells in the Approved List of...

September 18, 2024

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