ALTÉRRA Invests $100 Million in Evren

Uttar Pradesh Tenders 110 MW Projects in Two Solar Parks

REC Raises ₹50 Billion Through Five and Ten-Year Bonds

Military Engineer Services Invites Bids for 1.1 MW Rooftop Solar Systems

Robust Capacity Additions Push Adani Green’s Q4 Revenue Up 37% YoY

Daily New Wrap-Up: Rays Power, Hetvi Win Assam’s 250 MW Solar Projects Auction

Enphase Lowers Q2 Revenue Guidance, Fears Adverse Impact from China Tariffs

NTPC Green Floats Land and Transmission Tender for 900 MW Solar Projects

Savings in Power Bills Key Motivator for C&I Clean Energy Transition

Reliance Bags Project to Evacuate 3 GW of Power for Green Hydrogen Projects


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					</table><p>The Military Engineer Services (<a href="https://mes.gov.in/" target="_blank" rel="noopener">MES</a>), Eastern Command, Shillong Zone, has invited bids to install rooftop solar systems with a total capacity of 1,100 kW at Rangapahar Military Station in Nagaland.</p>
<p>Bids must be submitted by May 22, 2025. Bids will be opened on May 24.</p>
<p>The scope of work entails the design, procurement, quality control testing, supply, installation, integration with the planned electrical system, commissioning, and performance of the rooftop solar systems with capacities between 14 kW and 75 kW.</p>
<p>The project includes a five-year comprehensive maintenance contract.</p>
<p>Bidders must furnish an earnest money deposit of ₹689,300 (~$8,046) with a tender document fee of ₹3,000 (~$35.01). The selected bidders must submit a performance bank guarantee of 5% of the contract sum within 28 days from the issue of the Letter of Acceptance.</p>
<p>The project has an estimated cost of ₹72.85 million (~$850,400).</p>
<p>Bidders with MES enlistment must be of Class &#8216;A&#8217; and above.</p>
<p>Bidders without MES enlistment must meet the enlistment criteria for Class ‘A’, demonstrating adequate turnover, solvency, and working capital according to the MES Manual of Contracts 2020.</p>
<p>Bidders must have experience installing solar projects for government departments or public sector undertakings within the last seven years. This includes one project with a minimum capacity of 60 kW, two projects with a minimum of 37.5 kW, or three projects with at least 30 kW.</p>
<p>The project timeline stipulates a completion period of 270 days for execution, excluding operation and maintenance, followed by a five-year comprehensive maintenance phase, including defect liability and SCADA system upkeep.</p>
<p>Recently, MES Chief Engineer Bathinda Zone, <a href="https://www.mercomindia.com/mes-floats-tenders-for-om-of-3-mw-solar-projects-in-rajasthan" target="_blank" rel="noopener">invited</a> bids for the operation and maintenance of two solar projects in Rajasthan.</p>
<p>Earlier this year, MES <a href="https://www.mercomindia.com/mes-floats-tender-for-repair-and-maintenance-of-1-mw-solar-project" target="_blank" rel="noopener">invited</a> bids to repair and maintain a 1 MW solar power project at Bambolim, Goa.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of the tender activity in real-time.</p>



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					</table><p>U.S.-based microinverter and battery storage supplier <a href="https://enphase.com/en-in" target="_blank" rel="noopener">Enphase Energy</a> reported a 35.22% year-over-year (YoY) rise in revenue to $356.1 million in the first quarter (Q1) of 2025 from $263.34 million.</p>
<p>The company attributed the revenue growth to rising sales of its microinverters and IQ batteries.</p>
<p>It reported a net profit of $29.73 million, up from a net loss of $16.09 million in the same period last year.</p>
<p>Enphase Energy’s earnings per share (EPS) came in at $0.22 compared to a loss of $0.12 compared to Q1 2024.</p>
<p>The company said it shipped 170.1 MWh of IQ batteries in Q1 2025 and 1.21 million microinverters from its contract manufacturers in the U.S. , which are eligible for the 45X production tax credits.</p>
<p>As of March 2025, the company had cumulatively shipped 81.5 million microinverters with 28.75 GW capacity and 1.86 GWh of energy storage systems.</p>
<p>In April 2025, it announced that more than 2,500 SunPower customers have transitioned to Enphase Energy monitoring since SunPower’s bankruptcy filing in August 2024.</p>
<p>The company has a global capacity of around 7.25 million microinverters per quarter, with five million of these inverters in the U.S. Its domestically produced microinverters help residential lease/power purchase agreement providers and commercial asset owners qualify for the 10% domestic content ITC tax benefit.</p>
<p>The company shipped 44 MWh of batteries from their Texas facility during the quarter.</p>
<p>In an earning’s call, the company said the recently announced 145% tariff on Chinese products and the 10% reciprocal tariffs on imports from other countries are expected to have minimal impact on its microinverters and accessories due to a diversified supply chain.</p>
<p>However, it expects a higher impact on its batteries as it sources nearly 95% of battery cell packs from China. The tariffs are expected to reduce Enphase Energy’s gross margin by approximately 2% in Q2 of the financial year 2025. The tariff’s effect is expected to be limited in Q2 due to the company’s pre-tariff inventory.</p>
<p>In Q3, the company anticipates a 6% to 8% impact on its total gross margin after accounting for pricing adjustments due to reciprocal tariffs.</p>
<p>The company has already identified tangible sourcing options outside China.</p>
<p>It expects its revenue for Q2 to range from $340 million to $380 million, which includes shipments of 160 MWh to 180 MWh of IQ Batteries.</p>
<p>In Q4 2024, Enphase Energy <a href="https://www.mercomindia.com/enphase-exceeds-q4-revenue-eps" target="_blank" rel="noopener">recorded</a> a total revenue of $382.71 million, reflecting a 26.5% YoY increase and exceeding analyst expectations by $5.21 million. The company’s revenue in the U.S. increased approximately 6% sequentially, driven by higher microinverter sales, while revenue in Europe declined by 25% due to softening regional demand.</p>
<p>In Q3 2024, the company <a href="https://mercomindia.com/enphase-q3-revenue-drops" target="_blank" rel="noopener">reported</a> a revenue of $380.9 million, a 31% drop from $551.08 million a year ago. It faced weakening demand in Europe, where revenue fell by 15%. Despite this, U.S. sales surged 43% quarter-over-quarter as inventory normalization boosted shipments.</p>



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					</table><p><strong>Kuwait’s Ministry of Electricity, Water, and Renewable Energy</strong> <a href="https://www.saudigulfprojects.com/2025/04/kuwait-receives-bids-for-400kv-ohtl-shagaya-solar-power-plant/" target="_blank" rel="noopener">received</a> proposals for the 400 kV overhead transmission line project connecting the Al Shaqaya Solar Power Station to the Al Wafra (Z) substation. <strong>Larsen &amp; Toubro</strong> submitted the lowest bid at KWD1.45 million (~$135.19 million). This project is part of Phase I of the Shagaya Renewable Energy Project, developed by the Kuwait Institute for Scientific Research, which includes a 50 MW concentrated solar power facility, a 10 MW wind farm, and a 10 MW solar facility.</p>
<p>The <strong>Electricity and Water Authority of Bahrain</strong> <a href="https://www.saudigulfprojects.com/2025/04/bahrain-receives-commercial-bids-for-44-mw-solar-pv-project/" target="_blank" rel="noopener">received</a> commercial bids for a 44 MW solar project to be developed at the University of Bahrain. Nine bidders submitted proposals for the initiative in January 2025. The solar project is expected to produce approximately 75 GW of clean energy annually. It will be executed on a turnkey basis, encompassing engineering, design, material supply, installation, testing, commissioning, and civil and electromechanical works.</p>
<p><strong>Shanghai Electric</strong> <a href="https://www.stocktitan.net/news/SIELY/shanghai-electric-forms-major-partnerships-with-masdar-and-mawarid-ds5x1xcgr7ks.html" target="_blank" rel="noopener">entered</a> two renewable energy agreements in the Middle East. The company signed a 2 GW solar project with <strong>Masdar</strong> in Saudi Arabia and a comprehensive wind energy partnership with the Mawarid Group in Oman. The Saudi Arabia-based Sadawi solar project, covering 40 sq m, will supply over 6 billion kWh annually. Shanghai Electric’s partnership with the Mawarid Group includes wind turbine supply, technology transfer, and localized factory design.</p>
<p>The <strong>Oman Convention and Exhibition Centre</strong> <a href="https://solar-me.totalenergies.com/en/news/totalenergies-and-ocec-officially-commission-landmark-solar-rooftop-project" target="_blank" rel="noopener">launched</a> a large-scale rooftop solar project in Muscat in partnership with <strong>TotalEnergies</strong> Renewables Distributed Generation Middle East and Africa. The country’s <strong>OMRAN Group</strong> also supports the project. Commissioned in early 2025, the project includes 8,300 solar modules covering 16,600 sq m and is expected to meet around 25% of OCEC’s energy needs.</p>
<p>China’s <strong>LONGi</strong> has <a href="https://news.goalfore.com/detail/81885/longi-eyes-solar-panel-manufacturing-project-in-algeria.html" target="_blank" rel="noopener">expressed</a> interest in launching a large-scale solar manufacturing plant in Algeria. The company has presented a roadmap for its proposed project, including the full-scale production of solar panels. The Chinese delegation also outlined the project’s technical and logistical requirements, its implementation phases, and its potential value for the Algerian economy and the energy sector.</p>


MENA Round-Up: L&T Lowest Bidder for Kuwait Solar Project’s Transmission Line


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					</table><p>REC Power Development and Consultancy (<a href="https://recpdcl.in/" target="_blank" rel="noopener">RECPDCL</a>) has invited bids to develop an interstate transmission system to evacuate power from Pumped Storage Projects (PSPs) in Sonbhadra district, Uttar Pradesh, under a build, own, operate, and transfer model.</p>
<p>Bids must be submitted by June 27, 2025. Bids will be opened on the same day.</p>
<p>Bidders must furnish an earnest money deposit of ₹380 million (~$4.43 million) and a tender document fee of ₹500,000 (~$5,835) plus 18% GST.</p>
<p>Successful bidders must pay success charges or acquisition price, notified by RECPDCL 20 days before the bid deadline.</p>
<p>The scope of work entails establishing the 765/400 kV Robertsganj pooling station, providing loop-in loop-out of the existing 765 kV Varanasi-Gaya transmission lines, constructing a new 765 kV double circuit transmission line to Prayagraj, installing switchable line and bus reactors, and developing future provision infrastructure.</p>
<p>Selected bidders must design a project to evacuate 3.25 GW of power injection and 3.7 GW of drawal capacity from three applications totaling 2,016 MW from <a href="https://www.greenkogroup.com/" target="_blank" rel="noopener">Greenko</a> and two applications totaling 1,716 MW from <a href="https://avaada.com/" target="_blank" rel="noopener">Avaada</a> for interstate distribution. They must also implement advanced 765/400 kV transmission infrastructure for seamless integration with the national grid.</p>
<p>Selected bidders will be responsible for the project’s survey, design, land acquisition, statutory clearances, construction, testing, and commissioning. They must also provide operation and maintenance services for 35 years.</p>
<p>The project must also incorporate public procurement preferences under the ‘Make in India’ guidelines. This compliance includes adhering to the Approved List of Models and Manufacturers and Renewable List of Models and Manufacturers for project components.</p>
<p>The project must be completed within 30 months from the agreemen date.</p>
<p>The 765/400 kV 1&#215;1500 MVA interconnecting transformer at Robertsganj pooling station must be completed by December 2030.</p>
<p>Bidders must have worked on infrastructure projects worth at least ₹19 billion (~$221.73 million), with a minimum cost of ₹3.8 billion (~$44.35 million)/project. Alternatively, they must have executed construction contracts of the same value over the last five years.</p>
<p>Bidders must have had a minimum net worth of ₹7.6 billion (~$88.70 million) in the last three financial years.</p>
<p>Recently, RECPDCL <a href="https://www.mercomindia.com/recpdcl-invites-bids-for-2-5-gw-renewable-energy-transmission-projects" target="_blank" rel="noopener">invited</a> bids for developing an interstate transmission system to evacuate 2,500 MW of renewable energy in Madhya Pradesh.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of tender activity in real-time.</p>


RECPDCL Invites Bids to Evacuate 3.7 GW Power from Pumped Storage Projects


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					</table><p>Corporate funding for energy storage companies, including venture capital (VC), debt, and public market financing, totaled $2.2 billion across 31 deals in Q1 2025, according to Mercom Capital Group’s newly released <a href="https://mercomcapital.com/product/q1-2025-funding-ma-report-energy-storage/" target="_blank" rel="noopener">Q1 2025 Funding and M&amp;A Report for Energy Storage</a>.</p>
<p>This represents an 81% year-over-year (YoY) drop from the $11.7 billion raised in 29 deals in Q1 2024.</p>
<p>Raj Prabhu, CEO of Mercom Capital Group, commented, “Last year, we had a couple of huge deals that amounted to almost $10 billion, which was an anomaly. So, in comparison, the year-over-year dollars raised look low this quarter.”</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Energy-storage-funding-image-for-upload.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-78892 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Energy-storage-funding-image-for-upload.png" alt="Energy storage funding" width="1490" height="973" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Energy-storage-funding-image-for-upload.png 1490w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Energy-storage-funding-image-for-upload-300x196.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Energy-storage-funding-image-for-upload-768x502.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Energy-storage-funding-image-for-upload-650x424.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Energy-storage-funding-image-for-upload-624x407.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Energy-storage-funding-image-for-upload-600x392.png 600w" sizes="(max-width: 1490px) 100vw, 1490px" /></a></p>
<p>Prabhu emphasized that ongoing geopolitical and policy uncertainties are driving the downturn. “Since the elections and the new administration taking office, there’s been significant uncertainty around key policies, especially regarding the continuation of subsidies for the battery storage and EV sectors. On top of that, steep import tariffs have been imposed on China and several other countries.”</p>
<p>“All of this is disrupting the supply chain and driving up costs. As a result, there’s a lot of uncertainty about what comes next,” he added.</p>
<p>VC funding for energy storage declined moderately by 8% YoY, with $1.1 billion raised in 18 deals, compared to $1.2 billion raised in 23 deals a year ago. Companies in the Materials &amp; Components category secured the largest portion of funding, followed by those in the Energy Storage Downstream segment and Battery Recycling, Software, and Lithium-based Battery companies.</p>
<p>Top VC funding rounds in Q1 2025 included KoBold Metals with $537 million, green flexibility with $411 million, Equilibrium Energy with $28 million, Sonocharge Energy with $24 million, and ACCURE Battery Intelligence with $16 million. These top five deals comprised the bulk of the sector’s VC investment.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/energy-storage-funding-image-2-for-uploading.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-78894 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/energy-storage-funding-image-2-for-uploading.png" alt="Energy storage funding 2" width="544" height="421" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/energy-storage-funding-image-2-for-uploading.png 544w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/energy-storage-funding-image-2-for-uploading-300x232.png 300w" sizes="(max-width: 544px) 100vw, 544px" /></a></p>
<p>Debt and public market financing activity in the energy storage sector saw a 90% YoY decline, with $1.1 billion raised from 13 deals in Q1 2025, compared to $10.5 billion from six deals in Q1 2024.</p>
<p>Corporate M&amp;A activity also dropped significantly. Only one company acquisition was reported in Q1 2025, down from eight in the same quarter last year.</p>
<p>However, energy storage project mergers and acquisitions (M&amp;A) activity showed positive growth, with 15 projects acquired in Q1 2025, compared to just six in Q1 2024.</p>
<p><strong>Smart Grid</strong></p>
<p>Corporate funding for smart grid companies decreased by 23% YoY, with $530 million in 21 deals in Q1 2025 compared to $686 million raised in 14 deals during Q1 2024, according to Mercom Capital Group’s <a href="https://mercomcapital.com/product/q1-2025-funding-ma-report-smart-grid/" target="_blank" rel="noopener">Q1 2025 Funding and M&amp;A Report for Smart Grid</a>.</p>
<p>VC funding in the smart grid segment fell sharply by 47% YoY, with companies securing $346 million across 18 deals, compared to $656 million in 12 deals in the same quarter last year.</p>
<p>Smart charging companies drew the most VC investment within the segment during the quarter, underscoring continued interest in electric mobility infrastructure.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/smart-grid-funding-for-uploading.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-78895 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/smart-grid-funding-for-uploading.png" alt="Smart grid funding" width="1455" height="960" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/smart-grid-funding-for-uploading.png 1455w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/smart-grid-funding-for-uploading-300x198.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/smart-grid-funding-for-uploading-768x507.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/smart-grid-funding-for-uploading-650x429.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/smart-grid-funding-for-uploading-624x412.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/smart-grid-funding-for-uploading-600x396.png 600w" sizes="(max-width: 1455px) 100vw, 1455px" /></a></p>
<p>Other key segments attracting funding included Grid Optimization, Data Analytics, Demand Response, Distributed Generation and Integration, and Smart Grid Communications.</p>
<p>The largest smart grid VC deal in Q1 2025 was Connected Kerb’s $81 million raise. This was followed by Smart Wires with $65 million, GreenWay with $54 million, Gridware with $26 million, and ecoplanet with $16 million. These top five deals accounted for over 70% of total smart grid VC funding during the quarter.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/smart-grid-funding-2-for-uploading.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-78896 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/smart-grid-funding-2-for-uploading.png" alt="Smart grid funding 2" width="544" height="379" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/smart-grid-funding-2-for-uploading.png 544w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/smart-grid-funding-2-for-uploading-300x209.png 300w" sizes="(max-width: 544px) 100vw, 544px" /></a></p>
<p>In the area of debt and public market financing, smart grid companies raised $184 million from three deals in Q1 2025, significantly higher than the $30 million raised from two deals in Q1 2024.</p>
<p>On the M&amp;A front, three undisclosed transactions were reported in Q1 2025. This marked an increase from the single undisclosed M&amp;A transaction reported in Q1 2024.</p>
<p>On the outlook for the coming quarters, Prabhu noted, “Everything hinges on government action. Once trade deals are negotiated and tariffs are finalized, companies will have the clarity they need to move forward. Until then, the market remains in a wait-and-see mode.”</p>
<p>He added that uncertainty around the U.S. Inflation Reduction Act (IRA) and possible changes to investment tax credits are also fueling investor hesitation. “If those subsidies are reduced or removed, many projects simply won’t be viable. The market needs clarity before companies can commit to deals and move ahead.”</p>
<p>To learn more about the energy storage report, visit: <a href="https://mercomcapital.com/product/q1-2025-funding-ma-report-energy-storage/" target="_blank" rel="noopener">https://mercomcapital.com/product/q1-2025-funding-ma-report-energy-storage/</a></p>
<p>To learn more about the smart grid report, visit: <a href="https://mercomcapital.com/product/q1-2025-funding-ma-report-smart-grid/" target="_blank" rel="noopener">https://mercomcapital.com/product/q1-2025-funding-ma-report-smart-grid/</a></p>


Energy Storage Funding Declines Sharply in Q1 2025


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					</table><p>Germany’s Federal Network Agency (<a href="https://www.bundesnetzagentur.de/DE/Home/home_node.html" target="_blank" rel="noopener">Bundesnetzagentur</a>) has awarded 2,638 MW of ground-mounted solar projects categorized under the ‘first segment,’ which are installations located on structures that are neither buildings nor noise barriers.</p>
<p>The tender, which closed on March 1, 2025, saw high demand, with 420 bids submitted for a total capacity of  3,839 MW, exceeding the tendered volume of 2,625 MW. Of these, 271 bids amounting to 2,638 MW were awarded contracts, while 35 were disqualified.</p>
<p>Awarded prices ranged between €0.0399 (~$0.0457)/kWh and €0.0488 (~$0.0559)/kWh, with the average volume-weighted price settling at €0.0466(~$0.0534)/kWh. This is a slight <a href="https://www.mercomindia.com/germany-awards-2-15-gw-of-projects-in-solar-auction/" target="_blank" rel="noopener">decrease</a> of 2% from the previous round’s average of €0.0476 (~$0.0545)/kWh.</p>
<p>Bavaria received the largest allocation with 607 MW across 85 bids, followed by Brandenburg (367 MW, 24 bids) and Lower Saxony (315 MW, 31 bids).</p>
<p>“The tender continues to experience high participation, the level of competition remains high, and the awarded prices are continuing to decline,” said Klaus Müller, President of the Federal Network Agency. “The development in the area of ground-mounted solar installations is highly welcomed by the Federal Network Agency. These systems are all controllable and align their electricity feed-in with market demand.”</p>
<p>The next tender round for solar installations of the first segment will take place on July 1, 2025.</p>
<p>In March this year, Bundesnetzagentur <a href="https://www.mercomindia.com/germany-awards-317-mw-rooftop-solar-auction" target="_blank" rel="noopener">awarded</a> a total rooftop solar capacity of 316,964 kW in 143 bids in the latest auction.</p>
<p>Earlier this year, Bundesnetzagentur <a href="https://www.mercomindia.com/germany-tenders-2-6-gw-of-solar-projects" target="_blank" rel="noopener">issued</a> a tender to set up 2.625 GW of solar projects on agricultural land, grasslands, and disadvantaged areas. The agency targeted auctioning projects totaling 9,900 MW during 2025 across three bidding rounds.</p>
<p>Last October, Germany’s innovation tender for 583 MW of renewable energy projects was <a href="https://www.mercomindia.com/germany-awards-storage-projects-in-innovation-tender" target="_blank" rel="noopener">oversubscribed</a> by 218%, with bids totaling 1,856 MW.</p>


Germany Awards 2.6 GW of Projects in Latest Solar Auction


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					</table><p>Nagpur-headquartered <a href="https://sunflagsteel.com/" target="_blank" rel="noopener">Sunflag Iron and Steel</a> will procure power from an 11 MW solar project being set up by <a href="https://sunsure-energy.com/" target="_blank" rel="noopener">Sunsure Energy</a>’s special purpose vehicle Sunsire Solarpark Thirty Seven in Dhule, Maharashtra.</p>
<p>The two companies entered into a long-term power purchase agreement which will enable Sunflag Iron and Steel to source solar power from the under-construction project in captive mode for 25 years.</p>
<p>Sunflag has also executed a share subscription and shareholders’ agreement with Sunsure Energy to invest ₹57.25 million (~$668,085) to acquire and maintain a 26% equity stake in the power producer.</p>
<p>The subscription to the equity shares will occur in tranches.</p>
<p>Regulatory approvals are not applicable for this arrangement.</p>
<p>Sunsure Solarpark Thirty Seven develops, constructs, operates, and maintains power projects in India.</p>
<p>As part of its ESG goals, Sunflag has been entering into agreements with renewable energy companies to meet its power needs and reduce its carbon footprint. In 2023, Sunflag entered into long-term power delivery agreements with ReNew Power’s three special purpose vehicles by acquiring a 31.2% stake each to source 71.34 MW of solar power for 15 years, extendable up to 25 years.</p>
<p>Several companies in the hard-to-abate steel industry are transitioning to renewable energy to bring down emissions and be globally competitive. The emissions intensity of steel produced in India is 2.54 tons of CO2/ ton, significantly higher than the global average of 1.91. The steel industry accounts for 10-12% of India’s total emissions.</p>
<p>The Indian steel sector’s decarbonization efforts have acquired more urgency in the wake of the European Union’s Carbon Border Adjustment Mechanism (CBAM), which seeks to put a ‘fair price’ on the carbon emitted during the production of carbon-intensive goods entering the EU and encourage cleaner industrial production in non-EU countries.</p>
<p>The transitional phase of CBAM, which started on October 1, 2023, will <a href="https://www.mercomindia.com/eu-adopts-rules-governing-carbon-tariff-measure" target="_blank" rel="noopener">continue</a> until the end of 2025.</p>
<p>Recently, Jindal Stainless’s subsidiary, JSL Super Steel, <a href="https://www.mercomindia.com/jsl-super-steel-to-procure-11-mw-solar-power-from-sunsures-project" target="_blank" rel="noopener">announced</a> it will procure 11 MW of power from Sunsure Energy’s 49 MW solar project in Augasi, Uttar Pradesh. The company said this agreement will help it meet 40% of its energy needs through clean power.</p>


Sunflag Iron and Steel to Procure Power from Sunsure’s 11 MW Solar Project


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					</table><p>As India accelerates its clean energy goals, financing has become a critical enabler for commercial and industrial (C&amp;I) entities adopting solar. Structured funding options, ranging from MSME-focused bank loans to lease-based and turnkey financing, are making solar adoption more accessible and cost-effective.</p>
<p>At the recent C&amp;I Clean Energy Meet hosted by Mercom India in Mumbai, leading financial services companies and solar solution providers came together to share details on obtaining green loans for rooftop and captive open-access solar systems. The panel discussion featured representatives from SIDBI, Siemens Financial Services, IDBI Bank, Credit Fair, and Oorjan Cleantech.</p>
<p><strong>Loan Products </strong></p>
<p>Sheetal Sherke, Deputy General Manager, <a href="https://www.sidbi.in/en/" target="_blank" rel="noopener">SIDBI</a>, said the bank has two dedicated programs for clean energy financing—the End-to-End Energy Efficiency (4E) and the Green Finance programs.</p>
<p>“Both are aimed at MSMEs. Applicants can submit documents online. The 4E program offers up to ₹150 million (~$1.75 million), while Green Finance is available up to ₹500 million (~$5.84 million),” said Sherke.</p>
<p>Poonam Pawar, AGM Asset, <a href="https://www.idbibank.in/" target="_blank" rel="noopener">IDBI Bank</a>, spoke about the IDBI’s dedicated offering under the “IDBI Surya Shakti” program tailored for farmers, as well as commercial and industrial units. “We prioritize clients who have maintained a consistent relationship with the bank over the last two to three years,” she added.</p>
<p><a href="https://www.siemens.com/in/en/company/about/businesses/financial-services.html" target="_blank" rel="noopener">Siemens Financial Services</a> has expanded its financial services arm in India over the past 14 years. Abhay Dixit, Vice President of Business Development Siemens Financial Services, stated that the company offers loans and leasing models tailored for solar and clean energy projects. “We offer rental-based solutions that don’t require collateral or no objection certificates (NOCs) from existing banks. These products allow clients to retain their working capital lines,” he explained.</p>
<p>Gautam Das, CEO of <a href="https://www.oorjan.com/home" target="_blank" rel="noopener">Oorjan Cleantech</a>, outlined the company’s comprehensive turnkey model: “We provide full-cycle project execution from land acquisition and engineering to funding and maintenance. Our financial offerings include loans, leases, and PPAs with buyout options.”</p>
<p>Vikas Aggarwal, CEO of <a href="https://www.creditfair.in/" target="_blank" rel="noopener">Credit Fair</a>, said Credit Fair focuses on small commercial and residential rooftop solar projects. He said, “We have already financed over 9,000 rooftop systems, amounting to around 16 MW of capacity across India. Applications are processed digitally through our EPC partners.”</p>
<p><strong>Interest Rates and Loan Tenure</strong></p>
<p>SIDBI offers loans at interest rates ranging from 8.75% to 10%. The 4E program’s repayment period is up to seven years with a 12-month moratorium. The Green Finance program offers repayment terms of up to 10 years. “We calculate ratings internally, based on GST data, CIBIL scores, and borrower history,” said Sherke.</p>
<p>Siemens Financial Services does not offer standard interest rates for all clients but provides monthly rentals based on the project, down payment, and tenure. Dixit said, “We are a triple-rated company and offer competitive rentals tailored to each client. We usually see tenures between 4 and 5 years, but can extend this if necessary.”</p>
<p>Oorjan’s Das clarified how the cost of capital impacts interest rates. He said, “If you’re taking loans from a large NBFC with a Triple-B-Plus or better rating, you can expect interest rates below 10%. But small NBFCs often lend at 14–15% due to the higher cost of funds.”  Financial leasing with depreciation and GST set-offs for high-quality projects can lower the effective cost.</p>
<p>Pawar said the IDBI Bank offers rates ranging between 9.10% and 13.84%, depending on project appraisal and credit rating. The tenure extends from seven to ten years.</p>
<p>Credit Fair’s rates are higher, with unsecured loans priced between 12% to 14% and 15% to 18% on a reducing balance basis. “Our tenure is typically two to three years, especially after accelerated depreciation benefits,” said Aggarwal.</p>
<p>Siemens also provides a customized strategy. Dixit said the company aligns its internal ratings with available external scores and creates bespoke financing solutions without relying on the client’s primary banking limits.</p>
<p><strong>Collateral and Credit Rating Mechanisms</strong></p>
<p>Collateral requirements and credit evaluation processes vary among the participating organizations.</p>
<p>Siemens’ leasing model offers financing without needing collateral or NOCs. “The equipment acts as the asset, and the repayments come through rental structures. It’s tax-efficient and avoids interfering with banking limits,” said Dixit.</p>
<p>Oorjan uses lease and PPA models, which allow depreciation and GST benefits to be passed on to the customer. “You can save 30% on capital deployed if structured correctly. Even if a customer doesn’t want to buy the asset immediately, our model allows test-and-buy later,” explained Das.</p>
<p>IDBI Bank assesses credit ratings as part of project appraisal and determines collateral requirements based on the proposal’s size and scope.</p>
<p>Credit Fair uses only internal credit evaluations. It relies on cash flow analysis and business viability. “Loans up to ₹5 million (~$58,400) are unsecured,” said Agarwal.</p>
<p><strong>Advice for C&amp;I Units Considering Solar</strong></p>
<p>Experts strongly encouraged MSMEs to adopt renewable energy solutions, particularly solar power, citing its financial and environmental benefits. Sherke recommended rooftop and ground-mounted solar systems, noting that energy cost becomes almost negligible after four to five years, and added that early repayment penalties could be up to 3% plus GST.</p>
<p>Dixit emphasized the cost-effectiveness of lease models over equity, explaining that lease-based financing allows businesses to preserve their banking limits. He also stressed the importance of involving EPC partners early for integrated engineering and financing.</p>
<p>Das pointed out that delayed decision-making hinders progress despite the clear 30% return on capital from solar investments, urging partner-financed and pay-as-you-go models that minimize risk for businesses.</p>
<p>Aggarwal urged immediate action, especially in states like Maharashtra, which are experiencing rising electricity tariffs, stating that rooftop solar energy is key to cost control and decarbonization.</p>
<p>The financial companies emphasized that while the financing landscape for green energy is diverse, businesses must choose partners and models that align with their operational needs and fiscal capacity. With flexible loan products, digital processing, and evolving lease and PPA structures, adopting renewable energy is becoming easier and more efficient for India’s C&amp;I sector.</p>
<p>The next Mercom India C&amp;I Clean Energy Meet event will be held in <a href="https://www.mercomindia.com/event/c-and-i-clean-energy-meet-2025-pune" target="_blank" rel="noopener">Pune</a> on May 16, 2025.</p>
<p>At the last C&amp;I Clean Energy Meet hosted by Mercom in Chennai on March 7, 2025, industry experts from leading financial institutions <a href="https://www.mercomindia.com/attractive-financing-options-rooftop-solar" target="_blank" rel="noopener">discussed</a> multiple lending options, loan structures, and interest rates available for businesses investing in solar energy.</p>
<p><a href="https://www.mercomindia.com/lead-generation-form" target="_blank" rel="noopener">Contact us</a> if you plan to install solar and need guidance or vendor recommendations.</p>


A Guide to Solar Financing Options for MSMEs at Competitive Lending Rates


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					</table><p>The Solar Energy Corporation of India (<a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>) has issued a request for selection to develop grid-connected rooftop solar projects with a cumulative capacity of 6.25 MW. These projects will be implemented on a build-own-operate basis.</p>
<p>Bids must be submitted by May 20, 2025. Bids will be opened on May 23.</p>
<p>Bidders must furnish an earnest money deposit ranging from ₹1.35 million (~$15,768) to ₹315,000 (~$3,676) and a bid processing fee of ₹6,000 (~$70.02) plus GST.</p>
<p>The cumulative capacity is distributed across ten government academic institutions in six states.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Screenshot-2025-04-23-122500-2.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-78844 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Screenshot-2025-04-23-122500-2.png" alt="SECI tender table" width="1209" height="466" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Screenshot-2025-04-23-122500-2.png 1209w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Screenshot-2025-04-23-122500-2-300x116.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Screenshot-2025-04-23-122500-2-768x296.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Screenshot-2025-04-23-122500-2-650x251.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Screenshot-2025-04-23-122500-2-624x241.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/Screenshot-2025-04-23-122500-2-600x231.png 600w" sizes="(max-width: 1209px) 100vw, 1209px" /></a></p>
<p>&nbsp;</p>
<p>Successful bidders must submit a performance bank guarantee (PBG) of ₹3,375 (~$39.38)/kW. They must also pay service charges to SECI at a rate of ₹1,350 (~$15.75)/kW plus 18% GST, with 50% payable within 30 days of the letter of award and the remaining 50% before the power purchase agreement’s (PPA) signing. Late payment of these service charges will incur an 18% annual interest.</p>
<p>The scope of work entails the design, engineering, storage, installation, testing, and commissioning of the rooftop solar systems. It also includes obtaining net-metering approvals and grid connectivity.</p>
<p>Selected bidders must maintain a minimum capacity utilization factor of 15%. Failure to meet the energy generation targets beyond the permissible limits will attract penalties of 50% of the PPA tariff for the shortfall.</p>
<p>Successful bidders must also provide comprehensive operation and maintenance for 25 years.</p>
<p>They must commission the project within nine months from the effective PPA date, with a maximum allowable delay of six months. Delays beyond the allowed six months can result in the cancellation of the uncommissioned capacity and the PBG’s proportionate daily encashment.</p>
<p>The project must also adhere to the Central Electricity Authority’s technical standards for grid connectivity and use components compliant with the relevant IS/IEC standards.</p>
<p>Bidders must have a net worth ranging from ₹13.5 million (~$158,024.11) to ₹765,000 (~$8,954.70) as of the last date of the previous financial year or at least seven days before the bid submission deadline.</p>
<p>Recently, SECI <a href="https://www.mercomindia.com/seci-floats-tenders-for-4-55-mw-rooftop-solar-projects-in-five-states" target="_blank" rel="noopener">invited</a> bids for the engineering, procurement, and construction of 4.55 MW of grid-connected rooftop solar projects at multiple educational institutions across Bihar, Chhattisgarh, Sikkim, Assam, and Manipur.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker </a>to stay on top of real-time tender activity.</p>


SECI Tenders 6.25 MW Rooftop Solar Projects in Six States


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					</table><p><a href="https://www.kpigreenenergy.com/" target="_blank" rel="noopener">KPI Green Energy</a>, <a href="https://www.junipergreenenergy.com/" target="_blank" rel="noopener">Juniper Green Energy</a>, JGRJ Four Renewable (<a href="https://www.jakson-green.com/" target="_blank" rel="noopener">Jakson Green</a>), and Inox Neo Energies (<a href="https://www.inoxgreen.com/" target="_blank" rel="noopener">Inox Clean Energy</a>) have won Gujarat Urja Vikas Nigam’s (<a href="https://www.guvnl.com/" target="_blank" rel="noopener">GUVNL</a>) auction (Phase IX) to set up 250 MW grid-connected wind power projects with a greenshoe option of 250 MW in Gujarat.</p>
<p>KPI Green Energy won 100 MW quoting ₹3.64 (~$0.0426)/kWh.</p>
<p>Juniper Green Energy and JGRJ Four Renewable won 50 MW each at a tariff of ₹3.65 (~$0.0427)/kWh and ₹3.66 (~$0.0428)/kWh, respectively.</p>
<p>Inox Neo Energies won 50 MW out of the quoted capacity of 100 MW at a tariff of ₹3.66 (~$0.0428)/kWh under the bucket-filling method.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/GUVNL-charts.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-78832 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/GUVNL-charts.png" alt="" width="726" height="313" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/GUVNL-charts.png 726w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/GUVNL-charts-300x129.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/GUVNL-charts-650x280.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/GUVNL-charts-624x269.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/04/GUVNL-charts-600x259.png 600w" sizes="(max-width: 726px) 100vw, 726px" /></a>The tender was <a href="https://www.mercomindia.com/guvnl-floats-tender-to-procure-500-mw-wind-power" target="_blank" rel="noopener">floated</a> in January 2025.</p>
<p>The project’s scope covers designing the project’s interconnection with the state transmission utility / central transmission utility through a dedicated transmission line to deliver energy at the Gujarat Energy Transmission Corporation periphery.</p>
<p>The successful bidders must set up the transmission line up to the point of interconnection and energy accounting infrastructure at their own cost. They must also maintain the transmission system up to the interface point for grid connectivity.</p>
<p>The tender specified that developers must use commercially established and operational technologies to ensure timely completion of projects.</p>
<p>The projects must use models listed in the revised list of wind turbine models and manufacturers prepared by the Ministry of New and Renewable Energy.</p>
<p>The renewable energy generating station must be capable of supplying dynamically varying reactive power support to maintain power factors within the limits of 0.95 lagging to 0.95 leading.</p>
<p>They must maintain a minimum capacity utilization factor of 22% and pay compensation of up to 50% of the power purchase tariff for shortfalls.</p>
<p>The developers will be responsible for acquiring the land required for the project.</p>
<p>In October 2024, Juniper Green Energy, Jakson Green, and RIH Renewables (EDF Renewables) <a href="https://www.mercomindia.com/juniper-jakson-edf-win-guvnl-200-mw-wind-auction" target="_blank" rel="noopener">won</a> GUVNL’s auction to supply power from 200 MW grid-connected wind In January power projects in India (Phase VIII).</p>
<p>In January 2024, Alfanar Projects, Juniper Green Energy, and RIH Renewables (EDF Renewables) were <a href="https://www.mercomindia.com/alfanar-juniper-green-and-edf-mw-wind-auction" target="_blank" rel="noopener">declared</a> winners in GUVNL’s auction to set up 500 MW of grid-connected wind power projects anywhere in India (Phase VI) with a greenshoe option of an additional 500 MW.</p>


KPI, Juniper, Jakson, Inox Win GUVNL’s 250 MW Wind Auction


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					</table><p>The <a href="https://mp.gov.in/" target="_blank" rel="noopener">Madhya Pradesh</a> government has issued an incentive program to implement biofuel projects with investments above ₹100 million (~$1.17 million) through its ‘Scheme for Implementation of Biofuel Projects in Madhya Pradesh’ program.</p>
<p>The program covers all aspects of biofuel production, including feedstock cultivation, prediction technologies, distribution, and utilization.</p>
<p>The program targets developing bio-refinery clusters and infrastructure for biomass, waste collection, and storage and transportation. It will also establish biofuel dispensing outlets across urban and rural areas.</p>
<p>Additionally, the program aims to support research, development, and innovation in biofuel technologies.</p>
<p>The Commissioner of the New and Renewable Energy Department will register the biofuel unit, with only one bio-energy project allowed to be registered in a block area.</p>
<p>Biofuel manufacturing and biomass supply chain units investing over ₹100 million (~$1.17 million) will be eligible for the incentives.</p>
<p>However, the ₹100 million (~$1.17 million) limit will not apply to biomass briquette/pellet manufacturing plants, biomass-based steam generation units, power and cogeneration projects, biomass supply chain companies, and conversion of existing sewage treatment projects to biofuel projects.</p>
<p><strong>Incentives</strong></p>
<ul>
<li>Developers can avail of basic investment promotion assistance for each project for up to ₹2 billion (~$23.48 million). The incentive will be disbursed in seven equal installments</li>
<li>Developers can avail 50% assistance of up to ₹50 million (~$587,020) for developing infrastructure if they acquire private land or get undeveloped government land</li>
<li>Developers can avail 50% assistance of up to ₹50 million (~$587,020) for developing waste management systems and up to ₹100 million (~$1.17 million) for developing effluent treatment plants. This assistance will be disbursed in two equal installments</li>
<li>Developers can avail 100% reimbursement on expenses for filing patents, copyrights, trademarks, and geographical indications of up to ₹1 million (~$11,740)/kWh for the first five years</li>
<li>Developers will receive 50% reimbursement of quality certification cost or ₹100,000 (~$1,174) , whichever is lower</li>
<li>Developers will receive a 100% electricity duty exemption for ten years</li>
<li>Developers will be exempted from paying energy development cess for ten years</li>
<li>Developers will be exempted from paying cross-subsidy surcharge and/or additional surcharge for ten years</li>
<li>Developers will receive a 50% reimbursement on stamp duty on the purchase of private land for the project</li>
<li>Mega industrial units with investments above ₹5 billion (~$58.7 million) can avail of customized incentives</li>
</ul>
<p><strong>Incentives on Project Land</strong></p>
<p>Revenue land will be provided at 50% of the circle rate for establishing and operating bioenergy projects and machinery.</p>
<p>The program has stipulated different minimum land requirements for only the following projects:</p>
<p>A compressed biogas project of ten-ton capacity must have at least ten acres of land, a bio-coal/briquette plant must have 0.02 acres for every ton per day of plant capacity, and a biodiesel project must have 0.015 acres/kL/day of capacity.</p>
<p>The state’s animal husbandry department will facilitate land for animal shelters. It will also ensure cow dung availability in state animal shelters. The state will also develop a mechanism to transfer cow dung from gaushalas and waste from state agricultural produce markets to compressed biogas projects.</p>
<p>To avail of incentives, developers must use technologies approved by the Ministry of New and Renewable Energy or under the National Biofuels Policy 2018.</p>
<p>The state agriculture department will mandate the sale and purchase of bio-manure from bio-CNG projects at all licensed fertilizer shops.</p>
<p>In July 2024, the MNRE <a href="https://www.mercomindia.com/mnre-revises-cfa-rate-for-biomass-pellet-manufacturing-units" target="_blank" rel="noopener">revised</a> the Central Financial Assistance rates for biomass pellet manufacturing units under the National Bioenergy Program.</p>
<p>In February 2025, the government <a href="https://www.mercomindia.com/madhya-pradesh-targets-meeting-50-of-power-needs-from-renewables-by-2030" target="_blank" rel="noopener">set</a> a target of 50% of annual power consumption from renewable energy resources by 2030 under the Madhya Pradesh Renewable Energy Policy 2025.</p>
<p>Subscribe to Mercom’s real-time <a href="https://mercomindia.com/product/mercoms-renewable-energy-regulatory-updates/" target="_blank" rel="noopener">Regulatory Updates</a> to ensure you don’t miss any critical updates from the renewable industry.</p>


Madhya Pradesh Issues Incentives for Biofuel Projects Above ₹100 Million


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					</table><p><a href="https://gailonline.com/" target="_blank" rel="noopener">GAIL (India)</a>, a central public sector undertaking, has floated an engineering, procurement, and construction (EPC) tender for a 17.5 MW (AC) floating solar project at its facility in Pata, Uttar Pradesh.</p>
<p>Bids must be submitted by May 20, 2025. Bids will be opened on May 21.</p>
<p>Bidders must furnish an earnest money deposit of ₹7.75 million (~$90,442.50). The project must be completed within 12 months.</p>
<p>The scope of work includes the design, engineering, construction, erection, testing, and commissioning of the floating solar project and the associated power evacuation infrastructure. It also includes providing operation and maintenance services for three years and comprehensive annual maintenance for critical equipment for ten years.</p>
<p>Selected bidders must use solar modules from the Approved List of Models and Manufacturers.</p>
<p>Bidders must have experience in completing floating solar projects. They can choose one of two options while applying.</p>
<p>Option A requires the bidders to have completed 14 MW or more, or two projects of 8.75 MW each, or three projects of 7 MW each on an EPC basis in the last seven years. Option B requires the bidders to have experience executing ground-mounted solar projects of comparable capacities alongside at least one floating solar project with 2 MW (AC) capacity in the last seven years.</p>
<p>Bidders must have a minimum average annual turnover of ₹431 million (~$5.03 million) over the last three financial years and a positive net worth per the last audited financial year. Additionally, they should possess a minimum working capital of ₹86 million (~$1 million), with the option of providing a line of credit to cover any shortfall.</p>
<p>Earlier this year, GAIL <a href="https://www.mercomindia.com/gail-hikes-clean-energy-startup-investment-fund-to-57-million" target="_blank" rel="noopener">announced</a> an increase in its startup investment fund from ₹1 billion (~$11.53 million) to ₹5 billion (~$57.67 million).</p>
<p>In October 2024, GAIL <a href="https://www.mercomindia.com/gail-invites-bids-solar-project-in-madhya-pradesh" target="_blank" rel="noopener">invited</a> bids for the design, engineering, procurement and supply, construction, erection, testing, commissioning, operation, and maintenance of a 7.75 MW grid-connected floating solar project at Vijaipur in Madhya Pradesh.</p>


GAIL Invites Bids for 17.5 MW Floating Solar Project in Uttar Pradesh


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					</table><p>The Damodar Valley Corporation (<a href="https://www.dvc.gov.in/" target="_blank" rel="noopener">DVC</a>) has invited bids to set up a 250 MW/500 MWh battery energy storage system (BESS) project in Maithon, Jharkhand.</p>
<p>Bids must be submitted by May 21, 2025. Bids will be opened on May 22.</p>
<p>The project is part of Phase I of DVC’s plan to install a cumulative 500 MW/1,000 MWh BESS projects in Jharkhand and West Bengal.</p>
<p>The scope of work entails the design, engineering, installation, testing, and commissioning of the BESS project.</p>
<p>The project must be designed for 12 years, and bidders must provide operation and maintenance services.</p>
<p>It also involves designing, fabricating, and assembling a fully functional and transportable BESS. It must also entail a control system that provides standard input/output channels and appropriate control actions for all required operational and protective features.</p>
<p>The BESS project also includes a battery management system (BMS), an energy management system (EMS), a power conditioning system (PCS), a protection system, a communication system, and high and low-tension systems.</p>
<p>It must also include auxiliary power and a monitoring and control system.</p>
<p>Successful bidders must provide a minimum 12-year guarantee for the BESS battery, BMS, EMS, and PCS. They must supply 2% of the mandatory spares for all the project equipment.</p>
<p>They must also fully document the BESS’ design and expected performance and perform the system’s factory acceptance and type testing.</p>
<p>Additionally, successful bidders must obtain site-specific data for developing installation implementation plans. They must also supply the necessary project maintenance equipment and tools, and the initial complement of spare parts.</p>
<p>They must provide a warranty for the entire project and its equipment for 12 years.</p>
<p>Successful bidders must also perform the associated civil works. They must ensure a minimum project availability of 95% and an annual round-trip efficiency of at least 85%.</p>
<p>The BESS will be charged up to 85% from floating solar and hydroelectric projects. It must be designed to evacuate 250 MW for at least two hours/day to the grid during peak grid time.</p>
<p>The project must dispatch at least 70% of the total capacity till the end of its battery life.</p>
<p>Successful bidders must place the point of common coupling, point of interconnection, and metering system at the new 132 kV switchyard/ substation.</p>
<p>After the project&#8217;s commissioning, they must return 30% of the life cycle bank guarantee (LCBG) value. They must also return 60% of LCBG for 11 years at 5.45% per annum. The remaining LCBG must be returned at the end of the project life.</p>
<p>Bidders must have manufactured grid-interactive bidirectional PCS of a minimum cumulative installed capacity of 40 MW. At least one of the PCS installations must have a minimum capacity of 10 MW. The project must have been operational for at least six months.</p>
<p>Bidders must also have an in-house PCS routine testing facility.</p>
<p>Bidders who have not integrated a BESS of at least 40 MWh with the grid and have worked on one project of at least 10 MW can employ an engineering consultant/system integrator. The engineering consultant/system integrator must have integrated at least 40 MWh of BESS. At least one of the projects using the integrator must have a capacity of 5 MW. The project must have been operational for six months.</p>
<p>Bidders must procure batteries from manufacturers who have produced and supplied batteries for grid-interactive BESS of a minimum cumulative capacity of 40 MWh. At least one of these projects must have a minimum capacity of 5 MW.</p>
<p>Due to a <a href="https://www.mercomindia.com/government-enhances-bess-capacity-target" target="_blank" rel="noopener">decline</a> in BESS prices in the recent past, the government increased BESS capacity to 13,200 MWh, up from 4,000 MWh, as part of the viability gap funding program.</p>
<p>According to Mercom Capital Group’s Annual and Q4 2024 Funding and M&amp;A Report for Storage &amp; Grid, corporate <a href="https://mercomindia.com/mercom-capital-report-corporate-funding-energy-storage-smart-grid" target="_blank" rel="noopener">funding</a> for energy storage companies, including VC investments, public market funding, and debt financing, increased 5% year-over-year.</p>


Damodar Valley Corporation Invites Bids for 250 MW/500 MWh BESS Project


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					</table><p>Religious institutions are deeply embedded in the daily lives of millions of Indians and are emerging as unlikely champions of the clean energy transition. Many are increasingly turning to solar power, not just to cut rising electricity costs but also to contribute to the fight against climate change. Seasoned renewable energy firms are helping them achieve their green goals.</p>
<p><a href="https://ohmsenergy.com/" target="_blank" rel="noopener">Ohms Energy</a>, a Mumbai-based solar engineering, procurement, and construction company, is deploying solar power systems across religious institutions in India to help them reduce electricity costs and promote environmental sustainability.</p>
<p>The company has completed solar installations with capacities ranging from 20 kW to 1,100 kW across multiple states. It has installed solar projects at the following religious sites, including Chinmaya Mission, Anoopam Mission, Satyanarayan Goenka Bhavan in Maharashtra, and Sri Satya Sai Trust in Telangana.</p>
<p>Anuraag Gupta, Director of Ohms Energy, stated, “It is immensely satisfying to support these institutions in their sustainability efforts. These installations not only provide environmental benefits but also substantial financial relief.”</p>
<p>According to Swapan Sarkar, CEO, Ohms Energy, the rooftop installations have reduced the religious institutions’ grid power reliance by approximately 70% to 80%.</p>
<p>In Rajasthan, solar systems have been installed at Shri Kika Bhai Prem Chand Trust, Shree Jain Shwetambar Sangh Pedi, Shree Jeerawala Parsvnath, Bheru Tarak Jain Tirth, Shri Vijay Pataka Parshwanath Maha Tirth, and Gyan Raman Charitable Trust.</p>
<p>Religious institutions funded these projects, often receiving government subsidies. Ohms Energy provides company warranties for the products and annual maintenance contracts for servicing post-installation.</p>
<p>The solar panels utilized in these projects are primarily from RenewSys, with Waaree panels used at some locations. The string inverters deployed are from ABB, Delta, and Polycab.</p>
<p>Installing solar systems in these religious institutions presents unique difficulties. For instance, at Sri Satya Sai Trust in Ananthapuram, local mango harvesters had to transport solar panels across rocky terrain manually.</p>
<p>The solar systems at the Kharghar-based temple have helped reduce its monthly electricity bill of ₹100,000 (~$1,171). The installation was particularly challenging because of the temple’s dome-shaped architecture. The temple is expected to recover its investment in under three years.</p>
<p>Back in 2022, the Swaminarayan Akshardham temple complex in Gandhinagar <a href="https://www.mercomindia.com/indias-first-portable-rooftop-solar-systems-akshardham-temple" target="_blank" rel="noopener">installed</a> ten portable rooftop solar systems with a total output of 2.4 kW. Last January, the Shri Saibaba Sansthan Trust <a href="https://www.mercomindia.com/shirdi-temple-maharashtra-rooftop-solar-tender" target="_blank" rel="noopener">invited</a> bids to install a 1 MW rooftop solar system at the</p>
<p>Several power-intensive units in the commercial and industrial sectors have been switching to clean energy solutions to bring down their electricity bills and demonstrate their commitment to sustainability.</p>
<p>Recently, Shyam Snacks Food, a snacks manufacturer in Haryana, <a href="https://www.mercomindia.com/potato-chips-maker-shyam-snacks-halves-energy-bills-with-rooftop-solar" target="_blank" rel="noopener">expanded</a> the capacity of its rooftop solar system to 2.2 MW with the help of ARM Green Energy.</p>
<p>Earlier this year, Maharashtra-based SG Heavy Engineering <a href="https://www.mercomindia.com/sg-heavy-engineering-400-kw-rooftop-solar-system" target="_blank" rel="noopener">installed</a> an Ohms Energy 400-kW rooftop solar system at its 200,000 sq ft facility in Wada for ₹15 million.</p>


Religious Institutions are Cutting Electricity Costs with Solar Installations


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					</table><p>The Uttar Pradesh Power Corporation (<a href="https://uppcl.org/uppcl/hi/" target="_blank" rel="noopener">UPPCL</a>) has invited bids to procure 2,000 MW of pumped hydro storage capacity to be developed on a build, own, operate, and maintain basis for 40 years from the commercial operation date (COD).</p>
<p>The contracted capacity must have a scheduled discharge capability of eight hours per day, with a maximum continuous discharge of six hours.</p>
<p>Bids must be submitted by May 16, 2025. Bids will be opened on May 19.</p>
<p>Bidders must furnish an earnest money deposit of ₹500,000 (~$5,835)/MW, a tender document fee of ₹11,800 (~$137.61), an additional tender processing fee of ₹11,800 (~$137.61), and a bidding fee of ₹20,000 (~$233.40) (excluding GST).</p>
<p>Successful bidders must submit a performance bank guarantee of ₹1.2 million (~$14,004)/MW of the contracted capacity, which must remain valid for 12 months beyond the scheduled COD.</p>
<p>The scope of work entails the survey, investigation, designing, construction, erection, testing, and commissioning the project. It also involves providing operation and maintenance services and obtaining statutory approvals.</p>
<p>Successful bidders must achieve the pumped hydro storage project’s financial closure within 36 months of the agreement date.</p>
<p>Failure to meet the project requirements on time will attract liquidated damages at a rate of 0.2% of the performance security per day of delay, up to a maximum of 120 days.</p>
<p>Bidders must comply with the technical requirements for pumped hydro storage projects per the applicable grid code or Central Electricity Authority (CEA)/ central or state guidelines. They must also provide documentary evidence for compliance, including a detailed project report approved by the CEA, proof of technical tie-ups, and documents detailing adherence to the RLDC/SLDC guidelines for scheduling and dispatch.</p>
<p>The Central Electricity Authority has <a href="https://www.mercomindia.com/cea-approves-detailed-project-reports-for-7-5-gw-pumped-storage-projects" target="_blank" rel="noopener">greenlighted</a> Detailed Project Reports of six pumped hydro storage projects with a total capacity of 7.5 GW across Odisha, Karnataka, Maharashtra, Andhra Pradesh and Madhya Pradesh.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of the tender activity in real-time.</p>


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