Mercom Research Focus
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VGF, LCOS, and the Changing Economics of Battery Storage in India

Bid prices in the battery energy storage system (BESS) market are declining sharply, driven by viability gap funding (VGF) support and intense competition. While VGF has reduced upfront project costs, it has also spurred aggressiv...

February 9, 2026

Modules

Solar Module Capacity Under ALMM Jumps to 162 GW

The Ministry of New and Renewable Energy (MNRE) has expanded the Approved List of Models and Manufacturers (ALMM) by adding 17,268 MW of solar module capacity. The cumulative module manufacturing capacity under ALMM now stands at ...

February 9, 2026

Grid

Transmission Line Additions in 9M FY 2026 Meet Less Than Half the Target

India achieved 5,077 circuit kilometers (ckm) of power transmission lines between April and December in the financial year (FY) 2025–26, accounting for 47.5% of the cumulative target of 10,696 ckm set for the period, according to ...

February 9, 2026

Sponsored News

Solar Open Access Primary Growth Engine for C&I Units in India: Interview

India’s commercial and industrial (C&I) renewable energy market is undergoing a structural transition, with distributed solar growing beyond rooftop installations toward larger green open-access projects. Rising electricity co...

February 9, 2026

Latest News

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MAHAPREIT Invites Bids for 2 MW Rooftop Solar Projects in Maharashtra

Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) has invited bids to set up 2 MW rooftop solar projects under the renewable energy service company (RESCO) model at buildings of the Valsad District Cooperative Milk Producers’...

February 10, 2026

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Coal India to Set Up Joint Ventures for Renewable Energy Projects

Coal India has approved the incorporation of two joint venture companies to develop renewable energy projects across India. The first joint venture has been proposed with Uttar Pradesh Rajya Vidyut Utpadan Nigam (UPRVUNL) to develop solar projects...

February 10, 2026

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Rajasthan Invites Bids for Integrated Energy Portfolio Management Solution

Rajasthan Urja Vikas and IT Services (RUVITL) has invited bids to select an implementation agency to design, supply, develop, implement, and support an integrated energy portfolio management and power purchase cost optimization solution for the...

February 10, 2026

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CERC Adopts NHPC’s FDRE Tariffs but Cuts Greenshoe Capacity to 600 MW

The Central Electricity Regulatory Commission (CERC) has partly approved the adoption of tariffs discovered through a competitive bidding process for firm and dispatchable renewable energy (FDRE) procured by NHPC, while curtailing the allocation of...

February 10, 2026

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Bondada Engineering Commissions 69.51 MW Solar Projects Across India

Hyderabad-based Bondada Engineering has commissioned 69.51 MW of solar projects for three companies during January 2026. The projects were executed for Paradigm IT, Maharashtra State Power Generation Company (MAHAGENCO), and NLC India across...

February 10, 2026

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Daily News Wrap-Up: The Role of VGF and LCOS in India’s BESS Transition

Bid prices in the battery energy storage system (BESS) market are declining sharply, driven by viability gap funding (VGF) support and intense competition. While VGF has reduced upfront project costs, it has also spurred aggressive bidding that may...

February 10, 2026

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Global Energy Transition Investments Rise to $2.3 Trillion in 2025: BNEF Report

Global energy transition investment reached $2.3 trillion in 2025, up 8% from a year earlier, while investment in the clean energy supply chain rose to $127 billion, according to BloombergNEF’s (BNEF) Energy Transition Investment Trends 2026 report....

February 10, 2026

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MENA Weekly Roundup: Saudi Arabia, Türkiye Agree on 5 GW Renewable Projects

Saudi Arabia and Türkiye have signed a strategic agreement to develop up to 5 GW of renewable energy projects in Türkiye, primarily focused on solar power. The projects will be implemented in two phases, with Phase One involving a $2 billion...

February 10, 2026

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Adani Energy Receives Financing for ±800 kV HVDC Transmission Project

Adani Energy Solutions (AESL) has secured long-term financing from a consortium of Japanese banks, led by MUFG Bank and Sumitomo Mitsui Banking Corporation, for its ±800 kV high-voltage direct current (HVDC) transmission project to evacuate 6,000 MW...

February 10, 2026

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IREDA’s Board Approves Fundraise of ₹29.94 Billion Through QIP

The board of directors of government-owned lender, Indian Renewable Energy Development Agency (IREDA), has approved a fundraise of ₹29.94 billion (~$330.14 million) through a qualified institutions placement (QIP). IREDA said the Indian government’s...

February 9, 2026

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