Renewable energy sector experts opined that battery energy storage systems (BESS) will likely phase out power banking in the coming years. They said BESS has the potential to phase out power banking and reduce the load on distribution companies, as energy storage is likely to become more affordable. Energy storage systems are gaining traction in the open access and rooftop solar segments. However, bundling storage with renewable energy remains an expensive proposition.

NLC India Renewables (NLC India), Bondada Engineering, and Oriana Power won Tamil Nadu Green Energy Corporation’s (TNGECL) auction to set up 500 MW/1,000 MWh standalone BESS projects in six locations in Tamil Nadu on a build-own-operate basis. NLC India Renewables won 250 MW/500 MWh at a tariff of ₹248,000 (~$2,880.04)/MW/month, Bondada Engineering won 200 MW/400 MWh at a tariff of ₹246,000 (~$2,856.81)/MW/month, and Oriana Power won 50 MW/100 MWh at a tariff of ₹246,000 (~$2,856.81)/MW/month.

The Ministry of New and Renewable Energy launched the Innovative Projects Startup Challenge with a total prize pool of ₹23 million (~$265,650) to encourage innovation in rooftop solar and distributed renewable energy technologies. Applications for the challenge must be submitted by August 20, 2025. Results will be announced on September 10, 2025. The initiative is supported by the National Institute of Solar Energy and coordinated in partnership with StartUp India and the Department for Promotion of Industry and Internal Trade.

The Maharashtra Electricity Regulatory Commission directed the Maharashtra State Electricity Distribution Company (MSEDCL) to refund ₹6.8 million (~$78,351) in wheeling and transmission charges for the September 2021- May 2023 period for a wind power generator, with applicable interest. The petitioner, Serum Institute of India (SIIPL), installed captive generating projects by setting up 29 wind turbine generators and sought open access to its wind-generating units. MSEDCL issued monthly bills to SIIPL for the period from September 2021 to May 2023. However, it levied and recovered the wheeling and transmission charges based on actual gross injection rather than actual energy drawal at the consumption end.

REC Power Development and Consultancy invited bids for the implementation of a 765 kV interstate transmission system between Parli New, Maharashtra, and Bidar, Karnataka, on a build, own, operate, and transfer basis. Bids must be submitted by August 22, 2025. Bids will be opened on the same day. The scope of work encompasses the survey, design, engineering, financing, land acquisition, right-of-way clearance, permits, construction, testing, and commissioning of the transmission system. It also entails providing operations and maintenance services for 35 years.

NHPC issued a request for selection to set up 5.6 MW of rooftop solar projects on government buildings in Sikkim. Bids must be submitted by July 24, 2025. Bids will be opened on July 29. The scope of work entails the design, engineering, procurement and supply of equipment and materials, multi–level inspections, packing and forwarding, erection, testing, and commissioning of the projects. It also involves unloading and storage of equipment at the project site, conducting associated civil works, and obtaining the necessary permits and licenses.

New Delhi-based solar solutions and electric vehicle charger manufacturer Servotech Renewable Power System (Servotech) entered a definitive agreement to acquire a 27% stake in post-money valuation in solar module manufacturing company Rhine Solar. The cost of the acquisition was not disclosed. This acquisition is part of Servotech’s plan to expand its renewable energy portfolio and enhance its position as a comprehensive solar solutions provider. The company aims to leverage Rhine Solar’s existing infrastructure and expertise in solar module manufacturing to establish a foundation for large-scale module production in the country.

Gurgaon-based ACME Solar Holdings secured a domestic project finance facility totaling ₹10.72 billion (~$128.38 million) for its wholly-owned subsidiary, ACME Aklera Power Technology. This facility will be used to refinance the debt associated with the company’s 250 MW operational solar project in Rajasthan. The refinancing aims to decrease the project’s financing cost by 95 basis points to an annual rate of 8.5%. The Rajasthan project has been operational for approximately 18 months, with an annual capacity utilization factor of 29.3% in the financial year 2025.

The Bihar State Power Generation Company invited bids for the development of a 10 MW grid-connected floating solar project over the reservoir of Durgawati Dam, in the Kaimur/Rohtas district. Bids must be submitted by July 2, 2025. Bids will be opened on the same day. The scope of work encompasses the design, supply, erection, testing, and commissioning of the floating solar project, as well as the construction of a dedicated high-tension line for grid connectivity.

China added a record 93 GW of solar power capacity in May 2025, the highest-ever monthly figure. This one-month addition exceeds the cumulative solar installations of many countries. The National Energy Administration reported that China’s electricity consumption in May reached 809.6 TWh, a 4.4% increase year-over-year. The primary industry used 11.9 TWh, the secondary sector consumed 541.4 TWh, the tertiary industry used 155 TWh, and the residential consumption totaled 101.3 TWh.

The global energy storage capacity additions are expected to grow by 35% in 2025 to 94 GW or 247 GWh, according to BloombergNEF’s (BNEF) latest outlook. BNEF forecasts a compound annual growth rate of 14.7% between 2025 and 2035, with yearly additions reaching 220 GW or 972 GWh by 2035. The growth will be driven by traditional markets and large-scale utility projects launched or under construction in countries such as Saudi Arabia, South Africa, Australia, the Netherlands, Chile, Canada, and the UK.