Daily News Wrap-Up: Top Rooftop Solar Installers in 2023

Railways invites bids for 1.15 MW rooftop solar projects in Varanasi division

May 16, 2024

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Tata Power Solar, Amplus Solar, Roofsol Energy, Havells India, and Mahindra Solarize were the top rooftop solar companies in India during the calendar year (CY) 2023, according to Mercom’s India Solar Market Leaderboard 2024. India added 1.7 GW of rooftop solar capacity in CY 2023, according to the 2023 Q4 & Annual Mercom India Rooftop Solar Market Report. As of December 2023, the country’s cumulative rooftop solar installations reached 10.5 GW.

The Varanasi Division, Electrical of North Eastern Railway, has floated a tender for 1.15 MW rooftop solar projects at railway stations. The last date for submitting bids is May 30, 2024. Bids will be opened on the same day. The cost of the project is ₹61.4 million (~$736,316). Bidders must pay an earnest money deposit of ₹457,400 (~$5,478). The winning bidder must furnish a performance bank guarantee amounting to 5% of the contract value within 21 days from the issuance date of the Letter of Acceptance.

The Ministry of Power has mandated that every coal-based thermal power project operated by power generation utilities equipped with bowl mills must incorporate a 5% blend of biomass pellets derived from agro residue annually. This mandate will take effect one year from the date this guideline is issued. Subsequently, the obligation will increase to 7% after two years and remain at this level.

The Ministry of New and Renewable Energy (MNRE) has exempted solar and renewable energy parks developed by central public sector undertakings (CPSUs) or their joint ventures from having their Detailed Project Reports (DPRs) vetted by state government committees. Instead, DPRs can be submitted directly to central agencies such as the Solar Energy Corporation of India, the Indian Renewable Energy Development Agency, and MNRE.

Government-owned Power Finance Corporation recorded a total income of ₹241.76 billion (~$2.89 billion) for the fourth quarter  of the financial year (FY) of 2024, a 20% year-over-year (YoY) increase from ₹200.74 billion (~$2.4 billion). The public infrastructure financing company posted a profit after tax of ₹75.56 billion (~$904.83 million), an increase of 23% YoY from ₹61.28 billion (~$733.83 million).

The United States announced stiff hikes in tariffs on solar cells, electric vehicles, batteries, and critical minerals originating from China. This decision follows a review of the findings of a Section 301 investigation, which examined China’s unfair trade practices, including technology transfer, intellectual property violations, and innovation infringements. Next week, the Office of the U.S. Trade Representative will release a Federal Register notice detailing procedures for interested parties to provide feedback on the proposed modifications and information about the exclusion process for machinery used in domestic manufacturing.

Solar module manufacturer Trina Solar recorded an annual operating revenue of RMB113.39 billion (~$15.67 billion) in 2023, a 33% year-over-year (YoY) increase from 2022. The company also recorded a net profit of RMB5.53 billion (~$764.62 million), a 50% YoY increase. Module shipments for the year totaled 65.21 GW, 51% higher than in 2022. TrinaTracker’s business unit delivered more than 20 GW of solar mounting systems, and Trina’s storage business unit installed 5 GWh of DC containers and energy storage systems by the end of 2023.

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