Mercom Research Focus
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Average Cost of Large-Scale Solar Projects in India Drops 23% YoY in Q3 2024

The average cost of large-scale solar projects in India dropped by almost 23% year-over-year (YoY) in the third quarter (Q3) of calendar year (CY) 2024, according to Mercom India Research’s recently released Q3 2024 India So...

December 12, 2024

Mercom Research Focus

India’s Solar Cell and Module Imports Drop 19% in Q3 2024

India’s solar module and cell imports totaled $986.5 million (~₹82.6 billion) in the third quarter (Q3) of the calendar year (CY) 2024, down 19% year-over-year (YoY), according to data from the Department of Commerce. About ...

December 11, 2024

Manufacturing

List-II for Solar Cells Under ALMM to Come into Force from June 2026

The Ministry of New and Renewable Energy (MNRE) has introduced List-II for solar PV cells under the Approved List of Models and Manufacturers (ALMM). It will be effective from June 1, 2026. The inclusion of solar cells in ALMM add...

December 9, 2024

Finance and M&A

US Issues Final Rules on Investment Tax Credit for Clean Energy Projects

The U.S. Department of the Treasury has issued final regulations for the Section 48 Energy Credit, also known as the Investment Tax Credit (ITC), which typically provides a 30% tax credit for clean energy projects. This credit sta...

December 9, 2024

Latest News

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Enerture Technologies Secures 3.5 MW Solar Project from IIT Hyderabad

Solar engineering, procurement, and construction company Enerture Technologies has won a contract from the Indian Institute of Technology Hyderabad (IITH) to set up a 3.5 MW captive solar photovoltaic project at its campus. The award contract value...

December 12, 2024

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Australia Selects 19 Renewable Energy Projects with 6.38 GW Capacity

The Australian Department of Climate Change, Energy, the Environment and Water (DCCEEW) has selected 19 renewable energy projects totaling 6.38 GW, including eight hybrid power projects of 3.6 GWh under the Capacity Investment Scheme (CIS) Tender 1....

December 12, 2024

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Residential Solar Company SolarSquare Raises $40 Million in Series B Funding

Mumbai-based rooftop solar company SolarSquare has raised $40 million in a Series B funding round. Lightspeed led the round with participation from Lightrock. SolarSquare’s current investors, Elevation Capital, Lowercarbon, Rainmatter, and Gruhas...

December 12, 2024

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Daily News Wrap-Up: NHPC’s 1.2 GW Tranche VI FDRE Auction Results

Jevargi Solar Power (Rays Power Infra), Juniper Green Energy, Avaada Energy, and ACME Solar Holdings have won NHPC’s Tranche VI auction to supply 1,200 MW of firm and dispatchable renewable energy (FDRE) from ISTS-connected renewable power projects...

December 12, 2024

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Continuum Green Energy Files Draft Papers for ₹36.5 Billion IPO

Green power producer Continuum Green Energy has filed the draft red herring prospectus (DHRP) to raise over ₹36.5 billion (~$430.10 million) through an initial public offering (IPO). The IPO will consist of a fresh issue of equity shares with a face...

December 11, 2024

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Rays, Juniper, Avaada, ACME Win NHPC’s 1.2 GW Tranche VI FDRE Auction

Jevargi Solar Power (Rays Power Infra), Juniper Green Energy, Avaada Energy, and ACME Solar Holdings have won NHPC’s Tranche VI auction to supply 1,200 MW of firm and dispatchable renewable energy (FDRE) from ISTS-connected renewable power projects...

December 11, 2024

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Inox Forays into Solar Manufacturing with 5 GW Module, 2.5 GW Cell Capacity

INOXGFL Group announced its foray into solar manufacturing through Inox Solar, a privately held entity by the promoters. Inox Solar targets an initial capacity of 5 GW of solar modules and 2.5 GW of solar cell manufacturing capacity by 2026 with a...

December 11, 2024

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Airox Nigen Announces 2 GW Solar Module Facility in Haryana

Gurugram-based renewable energy solutions company Airox Nigen has announced a foray into solar module manufacturing by setting up a 2 GW facility in Haryana. The facility in a 17-acre renewable energy Park in Rohnat will manufacture solar modules...

December 11, 2024

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Mahindra Susten Secures ₹14.48 Billion Financing for 560 MW Solar Projects

Mahindra Susten, the clean-tech arm of the Mahindra Group, has closed a financing deal worth ₹14.48 billion (~$170.6 million) with HDFC Bank and Axis Bank for its 560 MW solar projects in Gujarat and Rajasthan. The funding will facilitate the...

December 11, 2024

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