The Reserve Bank of India’s (RBI) recent decision to cut interest rates by 50 basis points has brought cheer to the renewable energy sector, with stakeholders describing the announcement as a significant tailwind. Industry insiders said the rate cut, the third since the year began, has the potential to reduce the borrowing costs for renewable energy projects. Besides the repo rate cut, the 100 basis-point reduction in the Cash Reserve Ratio will unlock ₹2.5 trillion (~$29.1 billion) for onward lending by banks. Stakeholders said the rate cut will mean more liquidity will get injected into the system, which is already conducive to renewable energy development.

The Appellate Tribunal for Electricity ordered a distribution company (DISCOM) in Karnataka to pay a tariff of ₹6.89 (~$0.08)/kWh for 50 MW solar projects. It also directed the refund of the deductions made by the DISCOM from the discovered tariff to Azure Sunrise, a special purpose vehicle of Azure Power India. APTEL noted that the petitioner’s prayer was within the confines of what was finally adjudicated. It stated that the DISCOM’s conduct was highly objectionable, and it not only militated against the binding nature of judicial pronouncements but also bordered on contemptuous disregard for the rule of law.

The Kerala State Electricity Regulatory Commission released the draft ‘Renewable Energy and Related Matters Regulations, 2025’. Stakeholders can submit their suggestions and objections to KSERC within one month. These regulations apply to grid-interactive renewable energy systems, consumers and prosumers, captive consumers and generating projects, generating companies and distribution licensees, as well as other obligated entities. All consumers and prosumers billed under the agriculture, domestic, and industrial tariffs are eligible to opt for net metering. However, they must have a minimum capacity of 1 kW and a maximum of 3 kW.

The Punjab Energy Development Agency invited bids for the engineering, procurement, and construction of 30 MW grid-interactive solar projects at government buildings in Punjab and Chandigarh. The projects encompass rooftop and ground-mounted installations. Bids must be submitted by July 1, 2025. Bids will be opened on July 2. The project capacity is categorized into five segments: 1 kW to 3 kW, 3 kW to 10 kW, 10 kW to 100 kW, 100 kW to 500 kW, and 500 kW to 1.5 MW. The scope of work entails the design, manufacture, supply, erection, testing, and commissioning of the solar projects.

The National Institute of Solar Energy, an autonomous institute under the Ministry of New and Renewable Energy issued an expression of interest (EoI) for defining the scope and drafting the tender terms and conditions for the operation and maintenance (O&M) of its green hydrogen generation, storage, and refueling facility at the NISE Hydrogen Facility in Gurugram, Haryana. Bids must be submitted by July 9, 2025. The tender is for assisting NISE in formulating a comprehensive and technically sound tender for selecting a future O&M service provider for the solar-powered green hydrogen generation, storage, and refueling facility.

The Tamil Nadu Green Energy Corporation (TNGECL) invited EoI to empanel landowners willing to provide land for developing 1 MW to 4 MW solar power projects under Components A and C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) program. The land will be used for decentralized, grid-connected solar projects, either ground or stilt-mounted. Bids must be submitted by July 4, 2025.  Bids will be opened on July 5, 2025. TNGECL will release information about the identified land under a separate request for selection tender to the solar project developers.

Turnkey solar solutions provider Solarium Green Energy announced its re-entry into the solar module manufacturing space with the establishment of a 1,000 MW facility in Ahmedabad, Gujarat. The proposed facility will involve a capital expenditure of ₹700 million (~$8.14 million). The facility’s funding will be raised through a 3:1 ratio debt-to-equity mix. The plant, which will manufacture TOPCon solar modules, is expected to be operational by the end of the fourth quarter of the current financial year. Solarium Green Energy said the production line would feature imported tabber-stringers, laminators, and sun simulators to ensure high-quality and efficient output.

Government-owned lender, Indian Renewable Energy Development Agency raised ₹20.06 billion (~$234.71 million) through qualified institutional placement (QIP) of shares. The company issued a total of 121,466,562 equity shares at a price of ₹165.14 (~$1.93) per share, which includes a premium of ₹155.14 (~$1.82). The issue price was set at a 5% discount, or ₹8.69 (~$0.10), on the floor price. Among the participants, the Life Insurance Corporation of India emerged as the largest investor in the QIP, securing 60,733,280 shares, comprising half of the total allotment.

The National Company Law Tribunal, Chandigarh bench, approved the merger between Inox Wind Energy (IWEL) and Inox Wind (IWL), both INOXGFL Group companies. The company announced the merger in a BSE listing. As a result of the merger, 632 equity shares of face value of ₹10 (~$0.12) each of IWL will be allotted for every 10 equity shares of face value of ₹10 (~$0.12) each of IWEL. The shares are expected to be credited to shareholders of IWEL within one and a half months, subject to regulatory processes and clearances. The merger will reduce IWL’s liabilities by ₹20.5 billion (~$239 million), strengthening the company’s balance sheet.

Waaree Solar Americas, a subsidiary of Waaree Energies, secured a supply order for 599 MW of solar modules from a U.S.-based developer and owner-operator of utility-scale solar and energy storage projects. The modules will be manufactured in Waaree’s manufacturing facility in Brookshire, Texas.  The modules are expected to be delivered by 2026. The company has secured 1.2 GW of new module orders in the first quarter of fiscal year 2026. The module supply is scheduled to commence from the financial year 2027.

France added 1,442 MW of solar capacity in the first quarter (Q1) of 2025, a 34.76% year-over-year increase from 1,070 MW, according to the country’s Ministry of Energy Transition. Solar installations during the quarter were also the highest for any Q1 since 2010. In Q1 2025, the highest solar capacity additions came from projects sized between 100 kW and 250 kW, totaling 624 MW. Projects above 500 kW contributed the second-highest additions with 395 MW, followed by 165 MW from systems ranging between 3 kW and 9 kW. France’s cumulative installed solar capacity has reached 26.8 GW. Electricity production from solar projects reached 5.4 TWh in Q1 2025, up 40% YoY from 3.9 TWh.