Surat-based renewable energy solutions provider KPI Green Energy signed contracts with SJVN for the engineering, procurement, and construction of a 200 MW solar project at the Gujarat Industries Power Company Renewable Energy Park in Khavda, Gujarat. The project will be executed through three separate contracts for supply, EPC, and operation and maintenance for an aggregate cost of ₹6.96 billion (~$78.47 million). Under these agreements, KPI Green will supply all the equipment required for the solar project. They will also undertake the erection, installation, and construction activities, covering all civil, architectural, and structural works at the project site.

The Ministry of Power, in consultation with the Bureau of Energy Efficiency (BEE), mandated that all solar inverters with a rated capacity of up to 100 kW must meet a minimum overall efficiency requirement and display a BEE endorsement label. The mandate will apply to solar inverters with a rated capacity of 100 kW and an output voltage of 230 V ac, 50 Hz for single-phase inverters and 415 V ac, 50 Hz for three-phase inverters. Such solar inverters must meet the minimum overall efficiency requirement of the inverter based on static maximum power point tracking efficiency measurement and the steady state conversion efficiency prescribed in IS 17980:2022/ IEC 62891:2020.

KP Group, through its group entities, KPI Green Energy, KP Energy, and KP Green Engineering, entered into a framework agreement with wind turbine manufacturer Senvion India to jointly develop up to 2 GW of wind and wind-solar hybrid projects across India over the next three years. Under the agreement, KP Group will conduct project site identification and development. This includes land acquisition, obtaining statutory permits and approvals, and completing the balance of plant (BoP) execution. The BoP includes conducting civil works and providing internal roads, foundations, electrical systems, and grid evacuation up to interconnection points. Senvion India will supply the wind turbine generators for the projects.

The Gujarat Electricity Regulatory Commission adopted the tariffs discovered by Gujarat Urja Vikas Nigam (GUVNL) to procure 500 MW of solar power under its Phase XXVII tender. The Commission approved the discovered tariff range of ₹2.44 (~$0.0275) to ₹2.45 (~$0.0276)/kWh. The Commission directed GUVNL to execute power purchase agreements with the successful bidders within the timelines specified in the tender conditions and to submit signed copies of these agreements to it, together with an affidavit confirming compliance with the bidding guidelines and any approved deviations.

Noida-based automotive component manufacturer Samvardhana Motherson International’s board of directors approved the acquisition of Onega Solar, a special purpose vehicle created to build a 15 MW group captive solar project in Uttar Pradesh. The acquisition will be carried out through Motherson New Energy, a wholly owned subsidiary of the company. Under the transaction, Motherson New Energy will purchase 100% of the equity share capital and existing compulsorily convertible debentures of Onega Solar Power from IB Energy, Singapore, for a cash consideration of ₹13.19 million (~$148,660).

Decarbonization solutions company ReNew will invest approximately ₹600 billion (~$6.76 billion) to set up multiple green energy projects in Andhra Pradesh. This adds to the committed investment of roughly ₹220 billion (~$2.48 million) announced in May this year. ReNew will use the new investment to establish a 6 GW solar ingot-wafer manufacturing plant, a 2 GW pumped hydro project, a 3,000 kilotons per annum green ammonia facility, and 5 GW of hybrid renewable energy projects, comprising wind, solar, and solar-battery energy storage systems.

IndiGrid Investment Managers (IIML), the investment management arm of IndiGrid, a Mumbai-based power transmission and renewable energy company, has approved a board resolution to raise ₹15 billion (~$169 million). The fundraise may be carried out through a rights issue to eligible unitholders, a preferential issue, an institutional placement, or any other mode permitted by law. The capital raise will be subject to approvals from statutory, regulatory, and other authorities. IIML will also seek unitholder approval for the proposed raise, either through an extraordinary general meeting or a postal ballot.

Solar glass manufacturer Borosil Renewables reported a revenue of ₹3.8 billion (~$42.7 million) for the second quarter (Q2) of the financial year 2026, a 1.5% year-over-year (YoY) increase from ₹3.73 billion (~$42.05 million). Profit after tax stood at ₹615.75 million (~$6.94 million), increasing 569% YoY from a loss of ₹131.27 million (~$1.48 million). Borosil had reported a net loss of ₹2.03 billion (~$23.1 million) in the first quarter. Sales revenue rose 42% YoY, driven primarily by higher average selling prices of ₹147.5 (~$1.66) per millimeter (mm), up from ₹115 (~$1.3) per mm last year. Borosil also had higher sales volumes in this period.

U.S.-based solar tracker company FTC Solar’s revenue surged 156.8% YoY to $26.03 million in Q3 of 2025, from $10.14 million, exceeding analysts’ expectations by $4.91 million. Adjusted earnings before interest, taxes, depreciation, and amortization loss was $3.96 million, compared to losses of $12.17 million in the corresponding quarter last year. FTC’s net loss was $5.32 million compared to a net loss of $12.68 million last year. The company’s loss per share was $0.36, compared to $1 in Q3 2024, beating analysts’ estimates by $0.17.

U.S.-based residential solar and battery storage provider Sunrun reported total revenues of $724.6 million for Q3, a 35% YoY increase from $537.2 million. The company attributed the revenue growth to increased customer demand for solar-plus-storage systems and improved pricing discipline across its offerings. The revenue exceeds the analysts’ expectations by $123.39 million. The company’s revenue from customer agreements and incentives rose 21% YoY to $491.6 million, while revenue from solar energy systems and product sales increased 77% to $233 million.