Daily News Wrap-Up: Maharashtra’s 3 Million Residential Rooftop Solar Target

Torrent secures ISTS project to evacuate 1.5 GW renewables in Maharashtra

February 29, 2024


The Maharashtra State Electricity Distribution Company (MSEDCL) has prepared plans to install 3 million rooftop solar systems on houses in the state under the Pradhan Mantri Surya Ghar – Muft Bijli Yojana. The state has set a district/region-wise target and directed all field offices to focus on technical feasibility approvals and meter testing. MSEDCL has also urged that efforts be taken to create awareness among prospective consumers through camps, advertisements, and social media.

Gujarat-based power company Torrent Power has received the letter of intent from PFC Consulting for the establishment of an inter-state transmission system (ISTS) for the evacuation of power from renewable energy projects in Solapur, Maharashtra. The ISTS to be set up will evacuate 1,500 MW of renewable energy from the Solapur region. The scheduled commercial operation date will be 24 months from the acquisition of the special-purpose vehicle.

The Chhattisgarh State Renewable Energy Development Agency (CREDA) has issued a tender for the standardization of rates to set up 20,000 off-grid solar photovoltaic water pumping systems (SPWPS) with capacities of 2, 3, and 5 HP across Chhattisgarh. The projects also encompass a comprehensive maintenance contract, full system warranty, insurance, and repair and maintenance for a duration of 5 years under CREDA’s Saur Sujla program.

Dakshin Haryana Bijli Vitran Nigam has invited applications on a “first-come-first-serve” basis under Component A of Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM KUSUM) to set up 28.35 MW solar photovoltaic power projects in rural Haryana. Component A of PM KUSUM allows for subsidies to set up 10,000 MW of decentralized ground or stilt-mounted grid-connected solar or other renewable energy-based power projects by the farmers on their land.

U.S.-based solar module manufacturer First Solar reported a fourth-quarter (Q4) net income of $349 million, swinging to profit from last year’s loss of $7.5 million, as the company saw robust demand for its modules in the U.S. “Despite industry macro challenges such as global oversupply and pricing volatility, we continue to see strong mid to long-term demand, especially in the United States,” said CEO Mark Widmar in a post-earnings conference call with analysts.

Array Technologies, a utility-scale solar tracker company, reported a net profit of $19.34 million for Q4 of 2023, an improvement of 268% year-over-year from a net loss of $5.25 million. The company attributed the increase in profit for the quarter to structural changes around procurement, pricing, and value optimization of products. The adjusted gross margin saw an increase from 20.5% to 25.7%, propelled by better pricing and a rise in non-tracker sales.

Mercom India is set to host its second event in the ‘C&I Clean Energy Meet 2024‘ series in Uttar Pradesh’s capital city, Lucknow, on March 1, 2024. The Lucknow event titled ‘Green Energy Business Conclave’ will be co-hosted by the Uttar Pradesh New and Renewable Energy Development Agency and the Indian Industries Association.