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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 renewa...

December 11, 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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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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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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Plantation Corporation of Kerala Issues EOI for 50 MW Solar Projects

The Plantation Corporation of Kerala (PCK) has issued an expression of interest (EOI) inviting bids for a cumulative 50 MW of solar power projects at its Kasaragod and Cheemeni estates in the Kasaragod district. The last date to submit the bids is...

December 11, 2024

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Daily News Wrap-up: SECI’s 2 GW-4GWh Solar-BESS Auction Results

NTPC Renewable Energy, Sembcorp Green Infra, Solarcraft Power India 8 (Blupine Energy), Hero Solar Energy, and Reliance Power have won the Solar Energy Corporation of India’s (SECI) Tranche XVII auction to develop 2,000 MW of ISTS-connected solar...

December 11, 2024

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Funding and M&A Roundup: ConnectDER Secures $35 Million in Series D Funding

From: Mercom Capital Group ConnectDER, a provider of home energy technology solutions, secured $35 million in Series D funding. The funding round was led by Decarbonization Partners, a partnership between BlackRock and Temasek, with participation...

December 11, 2024

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Project Finance Brief: TotalEnergies Sells 50% of 2 GW Solar-Storage Portfolio in Texas

From: Mercom Capital Group TotalEnergies, a diversified multinational energy company, announced the sale of 50% of a portfolio of 2 GW solar and battery energy storage projects in Texas to Apollo, a New York-based asset management firm. The...

December 11, 2024

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