Mercom Research Focus
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Q4 Sees Solar Open Access Slowdown in Karnataka, Rajasthan, UP

India’s solar open access market witnessed a slowdown in the fourth quarter (Q4) of 2025, with regulatory changes, tariff structuring, and grid constraints affecting project development and the pace of commissioning in major marke...

March 10, 2026

Mercom Research Focus

India’s Solar Imports Up 34% in Q4 2025, Exports Down 70% QoQ

India imported solar cells and modules worth over $1.12 billion (~₹100.2 billion) in the fourth quarter (Q4) of 2025, a 55.6% year-over-year (YoY) increase from $723.4 million (~₹61.1 billion), according to data from the Departmen...

March 9, 2026

Mercom Research Focus

Execution Risks Loom for Indian Battery Storage Developers as Tariffs Drop Sharply

India’s standalone battery energy storage system (BESS) tenders and storage-linked renewable energy auctions have seen bid prices fall sharply, intensifying concerns over whether projects can be executed and, if so, whether they c...

March 9, 2026

C&I

C&I Consumers a Key Driver of India’s Renewable Growth

India’s commercial and industrial (C&I) consumers have emerged as one of the most important drivers of renewable energy adoption in the country. As companies seek to manage rising electricity costs, improve energy security, an...

March 10, 2026

Latest News

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SECI Invites Bids for Supply of Power from 1 GW RTC-TM Projects

The Solar Energy Corporation of India (SECI) has invited bids to supply 1 GW of round-the-clock thermal mimic (RTC-TM) power from interstate transmission system (ISTS)-connected renewable energy projects for 25 years. The last date to submit bids is...

March 11, 2026

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Project Finance Brief: Origis Secures $545 Million Solar Project Portfolio

From: Mercom Capital Group Origis Energy, a renewable energy platform, reached financial close on an approximately $545 million senior secured project financing with Natixis Corporate & Investment Banking and Santander Corporate & Investment...

March 11, 2026

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Punjab Invites Bids for 500 MW/1,000 MWh Standalone Battery Storage Systems

Punjab State Power Corporation (PSPCL) has invited bids to set up 500 MW/1,000 MWh battery energy storage systems in Mohali and Jalandhar. The last date to submit bids is April 10, 2026. Bids will be opened on April 16. Bidders must submit ₹471,000...

March 11, 2026

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Waaree Secures EPC Order for 300 MW Solar Project

Waaree Renewable Technologies (WRTL), the engineering, procurement, and construction (EPC) arm of the Waaree Group, has won an EPC contract to execute a 300 MW ground-mounted solar project for an unnamed Indian entity. WRTL will complete the solar...

March 11, 2026

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Funding and M&A Roundup: Solar Module Manufacturer HELIUP Raises $19 Million

From: Mercom Capital Group HELIUP, a solar module manufacturer for large rooftops of commercial and industrial buildings, closed a €16 million (~$19 million) funding round. Supernova Invest led the funding round. Supernova Invest led the funding...

March 11, 2026

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Maharashtra Targets 75% Clean Energy by 2047 in Latest Budget

Maharashtra has set a target of achieving 75% clean energy by 2047, with the 2026–27 budget outlining measures across solar deployment, rooftop solar subsidies, and pumped hydro development. The government also underscored the Maharashtra Renewable...

March 11, 2026

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Himachal Pradesh Tenders 6 MW Solar, 4.2 MWh Battery Storage Project

The Himachal Pradesh Power Corporation (HPPCL) has floated a tender to set up a 6 MW solar project with a 2.1 MW/4.2 MWh battery energy storage system (BESS) at Tihra Khas village. Bids must be submitted by April 17, 2026. Bids will be opened on the...

March 10, 2026

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NTPC Renewable Energy Commissions 270 MW at Khavda-II Solar Project

NTPC Renewable Energy (NREL), a wholly-owned subsidiary of NTPC Green Energy (NGEL), has commissioned the third part of the 1.2 GW Khavda-II solar project in Gujarat. NREL is developing two large-scale solar parks. A 4.75 GW solar park is being...

March 10, 2026

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Torrent Power Issues Non-Convertible Debentures Worth ₹20 Billion

Gujarat-based Torrent Power has raised ₹20 billion (~$216.58 million) through private placement of secured, non-convertible debentures (NCDs). The debenture issue comprises 200,000 NCDs, each with a face value of ₹100,000 (~$1,083), carrying a...

March 10, 2026

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Punjab Cuts Power Tariffs for FY 2027 as ₹78.5 Billion Surplus Emerges

The Punjab State Electricity Regulatory Commission (PSERC) has reduced electricity tariffs across consumer categories for the financial year (FY) 2026-27 after determining that the distribution utility will have a surplus of ₹78.5 billion (~$850...

March 10, 2026

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