Daily News Wrap-Up: New Measures for Subsidy Accounting and Billing for DISCOMs

Jodhpur DISCOM tenders 105 MW of solar projects under KUSUM

August 2, 2023


In a bid to improve the financial stability of the state distribution companies (DISCOMs) and establish a sustainable framework for the power sector, the Ministry of Power has amended the Electricity Rules 2005, introducing measures to streamline accounting, reporting, billing, and subsidy payment by states to the DISCOMs. The Ministry of Power had proposed draft provisions in the Electricity (Amendment) Rules, 2023, in April this year, requesting stakeholders to submit their comments and suggestions by May 11, 2023.

The Jodhpur Vidyut Vitran Nigam has floated three tenders to install and commission 39 grid-connected solar power projects with a total capacity of 105.68 MW in the subdivisions of Churu Circle under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan program for feeder-level solarization. The projects will be developed under the renewable energy service company model. The tenders are for 24.16 MW, 30.68 MW, and 50.84 MW of solar projects.

India Grid Trust (IndiGrid), a power infrastructure investment trust, has recorded a profit worth ₹1.07 billion (~$13 million) for the Q1 of FY 2024, a year-over-year (YoY) increase of 28.8% from ₹830.72 million (~$10 million). The company earned a revenue of ₹6.29 billion (~$76.4 million), which was up 12% YoY, and the consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) was up 11% YoY to ₹5.69 billion (~$69 million).

According to a report from LevelTen Energy, solar and wind power purchase agreement (PPA) prices in North America are stabilizing, presenting an opportunity for buyers to secure favorable clean energy deals. However, in Europe, the increasing demand for clean energy is expected to moderate the decreases in PPA prices. In Europe, PPA prices are driven by factors like the EU’s Corporate Sustainability Reporting Directive and the increase in electricity prices following geopolitical events.

Researchers at the U.S. Department of Energy’s National Renewable Energy Laboratory have published a study that reveals how sound waves could play a pivotal role in making solar cells more affordable for earth-bound applications. The team said III-V solar cells are a type of solar cell technology with exceptional efficiency, named after the elements from groups III and V of the periodic table used in their fabrication.