India’s Non-Fossil Power Capacity Crosses 300 GW

Chhattisgarh Invites Bids for 1,000 Off-Grid Solar Systems with Storage

Energy Storage Firms Secure $8.9 Billion in Corporate Funding in 1H 2026

Daily News Wrap-Up: SECI Announces Winners of 1 GW FDRE-RTC Auction

India’s Solar Power Generation Rises 45.9% YoY to 62.8 BU in Q2 2026

TBK India Expands Rooftop Solar Capacity After Strong Phase 1 Returns

Inox Wind’s Q1 FY 2027 Revenue Slips 1.5% YoY to ₹8.14 Billion

Gujarat Regulator Approves ₹4.87/kWh Tariff for 250 MW FDRE Procurement

Heelstone Acquires 188 MW Development-Stage Solar Project in Texas

Surge in Cell, Module Production Boosts Premier Energies’ Q1 Revenue by 35%


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					</table><p>APM Projects <a href="https://www.mercomindia.com/apm-projects-wins-mes-1-mw-solar-epc-contract" target="_blank" rel="noopener">won</a> the Military Engineer Service’s engineering, procurement, and construction (EPC) auction to set up a 1 MW grid-connected solar project at Air Force Station Suratgarh, Rajasthan. The contract is valued at ₹67.4 million (~$760,113). The scope of work includes the complete EPC covering the design, supply, installation, testing, and commissioning of the solar facility. The project must be completed within 1,350 days of the site handover, scheduled to occur approximately two weeks after acceptance of the letter of award.</p>
<p>Kunamneni Technologies <a href="https://www.mercomindia.com/kunamneni-wins-ntpcs-epc-auction-for-92-mw-floating-solar-project" target="_blank" rel="noopener">won</a> the order to provide comprehensive operations and maintenance (O&amp;M) of a 92 MW floating solar project at NTPC Kayamkulam, Kerala, for three years, and a 5 MW ground-mounted solar project at Sri Vijaya Puram (Port Blair), Andaman and Nicobar Islands, for two years and nine months. The awarded contract is valued at ₹166.72 million (~$1.85 million). The tender was floated on July 28, 2025. The company’s scope of work will include daily monitoring of string outages, restoring inverter trips, attending to breakdowns and tripping incidents, and restoring the system as quickly as possible.</p>
<p>The Central Electricity Regulatory Commission (CERC) <a href="https://www.mercomindia.com/cerc-issues-key-relaxations-to-ease-implementation-of-gna-regulations" target="_blank" rel="noopener">issued</a> clarifications to address the difficulties flagged by renewable energy developers in implementing the third amendment to the General Network Access (GNA) Regulations. Developers originally had only three months and one week after the third amendment to the GNA Regulations to either convert to entities with solar-hour access or apply for additional capacity. CERC has granted a one-time 2.5-month extension, bringing the total to 5.5 months. The extension recognizes that developers require more time to make investment decisions and finalize project configurations.</p>
<p>The Central Transmission Utility of India (CTUIL) <a href="https://www.mercomindia.com/ctuil-revokes-grid-connectivity-for-6-3-gw-of-renewable-energy-since-2022" target="_blank" rel="noopener">revoked</a> grid connectivity of 24 grantees with a total renewable energy capacity of 6,343 MW since 2022. Minister of State for New and Renewable Energy Shripad Yesso Naik told Parliament that CTUIL had clarified that the cancellations were not due to a shortfall in transmission planning to meet the 2030 non-fossil capacity target, but because of developer delays. India has set a target of installing 500 GW of non-fossil energy capacity by 2030.</p>
<p>The Bihar Electricity Regulatory Commission <a href="https://mercomindia.com/bihar-regulator-approves-procurement-of-144-mw-solar-power-under-kusum" target="_blank" rel="noopener">approved</a> the proposal of the Bihar State Power Generation Company and Bihar State Power Holding Company to procure 144.27 MW of solar power, under the PM-KUSUM Component-C program for feeder-level solarization for 25 years. The Commission also approved the discovered tariffs ranging from ₹3.30 (~$0.037)/kWh to ₹3.48 (~$0.038)/kWh and the draft power purchase agreement.</p>
<p>Commercial and industrial (C&amp;I) businesses <a href="https://www.mercomindia.com/clean-energy-solutions-for-ci-sector-take-center-stage-at-nagpur" target="_blank" rel="noopener">account</a> for a large share of India’s energy demand. The cost of grid power charged by the distribution companies has been rising due to higher power purchase costs. This has pushed several C&amp;I businesses to opt for cheaper renewable energy sources. The costs of sourcing renewable energy through open access or by installing rooftop solar will be far more economical than grid tariffs. Besides the economic benefits, businesses can also reduce their carbon footprint and make their operations more environmentally friendly.</p>
<p>Indian Institute of Science Education and Research Bhopal <a href="https://www.mercomindia.com/iiser-bhopal-invites-bids-from-shortlisted-parties-for-2-mw-solar-project" target="_blank" rel="noopener">issued</a> an EPC tender to set up a 2 MW solar project on its premises on a turnkey basis. Only bidders shortlisted under the tender issued on July 21, 2025, are eligible to participate. Bids must be submitted by December 29, 2025. Bids will be opened on December 30. The scope of work entails the design, engineering, procurement, supply, construction, testing, and commissioning of the solar project. It also involves providing O&amp;M services for 10 years. Successful bidders must provide all labor, materials, construction plant, equipment, transportation, and temporary works for the project. They must provide storage for the equipment and accommodation for labor.</p>
<p>Power Grid Corporation of India <a href="https://mercomindia.com/powergrid-commissions-key-ists-to-evacuate-renewables-from-rajasthan" target="_blank" rel="noopener">commissioned</a> the 765 kV double-circuit Khetri–Narela interstate transmission system, part of the larger 8.1 GW transmission infrastructure to evacuate solar power from Rajasthan to Delhi and Northern India. The transmission system is a crucial link in Rajasthan’s renewable evacuation network. Its commissioning has come at a time when the state has been grappling with large-scale solar and wind curtailment, leading to revenue losses for renewable energy developers and green energy remaining unutilized.</p>
<p>GFCL EV Products, a subsidiary of Gujarat Fluorochemicals, <a href="https://www.mercomindia.com/inox-gfl-secures-50-million-funding-from-international-finance-corporation" target="_blank" rel="noopener">secured</a> an investment of ~$50 million (~₹4.5 billion) from the International Finance Corporation to develop an integrated battery material facility. The funding is being raised through subscription of compulsorily convertible instruments. GFCL EV has fully integrated manufacturing capabilities for battery chemicals, with backward integration into key raw materials, and its product portfolio caters to both the electric-vehicle and energy-storage sectors.</p>
<p>U.S.-based electric vehicle charging solutions company ChargePoint <a href="https://www.mercomindia.com/improving-residential-business-cuts-chargepoints-net-loss-by-32-yoy" target="_blank" rel="noopener">reported</a> total revenue of $105.67 million in the third quarter (Q3) of the financial year 2026, a 6% year-over-year (YoY) increase from $99.6 million. The revenue comprised $56.4 million from its networked charging systems business, up 7% YoY from $52.66 million. It earned $42 million from subscriptions, a 15.3% YoY increase from $36.41 million. ChargePoint’s revenue from other sources was $7.3 million, declining 31% YoY from $10.5 million.</p>
<p>The Electric Reliability Council of Texas <a href="https://www.mercomindia.com/texas-grid-hit-by-massive-data-center-demand-wave-ercot-warns" target="_blank" rel="noopener">received</a> 225 new large load interconnection requests in 2025 alone, accounting for a 270% MW demand increase since January. By November 18, 2025, ERCOT was tracking about 226 GW of large loads seeking interconnection, up from 63 GW in December 2024. The report ‘System Planning and Weatherization Update’ stresses that data centers dominate this wave, accounting for roughly 73% of large load requests. It also notes a shift toward extremely large single-site proposals, with many individual projects above 1 GW.</p>
<p>The global wind energy sector is <a href="https://www.mercomindia.com/workforce-demand-for-onshore-and-offshore-wind-rises-sharply-gwec" target="_blank" rel="noopener">expected</a> to require at least 1 million full-time equivalent (FTE) workers between 2025 and 2030 to meet projected installation and operational targets, according to the Global Wind Energy Council and the Global Wind Organisation. This workforce will be essential across construction, installation, assembly, and O&amp;M  activities. Of the one million FTEs, approximately 700,000 will be required for construction and installation, with 300,000 to support O&amp;M operations, according to the Global Wind Workforce Outlook 2025.</p>
<p>The U.S. solar industry <a href="https://www.mercomindia.com/surge-in-utility-scale-installations-drives-us-solar-deployment-to-11-7-gw-in-q3-2025" target="_blank" rel="noopener">added</a> a capacity of 11.7 GW in Q3 of 2025, a 20% YoY and a 49% quarter-over-quarter increase, according to US Solar Market Insight Q4, a joint report by Wood Mackenzie and Solar Energy Industries Association. The report attributes the rise in solar installations to nearly completed projects in Q2 that were halted by the Reconciliation Act and completed in Q3. However, it highlighted that industry constraints and supply chain bottlenecks moderated the installation rush. The quarter also saw solar module shortages and delivery delays affecting the residential sector. The commercial and community solar projects were constrained by labor availability.</p>


Daily News Wrap-Up: APM Projects Bags MES’ 1 MW Solar EPC Auction


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					</table><p>APM Projects <a href="https://www.mercomindia.com/apm-projects-wins-mes-2-mw-rooftop-solar-epc-auction" target="_blank" rel="noopener">won</a> the Military Engineer Service’s 2.25 MW engineering, procurement, and construction auction to set up rooftop solar systems at various buildings in Air Force stations in Haryana, Uttar Pradesh, and Maharashtra. APM won the project, quoting ₹149.4 million (~$1.68 million). The tender was floated on July 22, 2025.</p>
<p>The Gujarat Electricity Regulatory Commission <a href="https://www.mercomindia.com/gujarat-reaffirms-retrospective-tariff-framework-for-wind-power-projects" target="_blank" rel="noopener">reaffirmed</a> its tariff framework for the procurement of power by distribution licensees and others from wind projects from June 6, 2022, to March 31, 2027. The decision follows the Appellate Tribunal for Electricity remanding the matter to the Commission for a fresh hearing on the limited issue of retrospective applicability.</p>
<p>The government <a href="https://www.mercomindia.com/government-to-cancel-reia-awarded-projects-without-ppa-psa-prospects" target="_blank" rel="noopener">directed</a> renewable energy implementing agencies (REIAs) to close all legacy bids and cancel the letters of award for all renewable energy projects for which power purchase and power sale agreements are not feasible by November 30, 2025. The four REIAs – SECI, NTPC, NHPC, and SJVN – together have unsigned PPAs/PSAs for 42 GW of projects.</p>
<p>NTPC <a href="https://www.mercomindia.com/ntpc-floats-tender-for-om-of-4-mw-solar-projects-in-noida" target="_blank" rel="noopener">invited</a> bids for the operation and maintenance (O&amp;M) of 4 MW ground-mounted solar projects, each with a 1.25 MWh battery energy storage system (BESS), for two years at the NTPC Energy Technology Research Alliance (NETRA) buildings in Noida, Uttar Pradesh. The last date to submit bids is November 27, 2025. Bids will be opened on the same day. The 4 MW microgrid would power NTPC NETRA’s two major buildings, the Phase I building and the Phase II building, as well as the hostel building, and support some pilot projects and installations. The scope of work encompasses the O&amp;M of the solar projects and battery energy storage systems, operating round-the-clock in shifts.</p>
<p>NTPC <a href="https://mercomindia.com/ntpc-invites-bids-for-om-of-100-mw-floating-solar-project-at-ramagundam" target="_blank" rel="noopener">invited</a> bids for the comprehensive O&amp;M of its 100 MW floating solar project located at NTPC Ramagundam, Andhra Pradesh. The project comprises 40 blocks, each with a 2.5 MW capacity. Bids must be submitted by November 26, 2025. Bids will be opened on November 28. The scope of work includes the O&amp;M of the 100 MW floating solar project, along with the grid connection system, for three years from the date of award.</p>
<p>Independent power producer JSW Energy <a href="https://www.mercomindia.com/jsw-energy-commissions-85-mw-of-new-renewable-energy-capacity" target="_blank" rel="noopener">commissioned</a> 85 MW of renewable energy capacity. The added capacity comprises 74 MW of solar and 11 MW of wind projects, bringing the company’s total installed capacity to 13,295 MW. JSW said the newly installed solar capacity includes part of the NHPC Hybrid project. The company’s share of renewables in its overall capacity stands at 57%. This share comprises 3,720 MW of wind, 2,286 MW of solar, and 1,631 MW of hydro capacity.</p>
<p>The Rajasthan Renewable Energy Corporation <a href="https://www.mercomindia.com/rajasthan-launches-plug-and-play-2-45-gw-solar-park-with-5-gwh-bess-in-pugal">announced</a> a plug-and-play solar park for 2,450 MW solar and 5,000 MWh BESS projects in Pugal, Rajasthan. The solar park is expected to be commissioned in 2028. It will be set up at an estimated project cost of ₹13.76 billion (~$155 million). The blended cost of setting up the solar plus BESS projects at the Pugal solar park will be ₹81.8 million (~$922,254)/MW. The park will be divided into three lots: Lot 1 (1,000 MW), Lot II (1,000 MW), and Lot III (450 MW).</p>
<p>GlaxoSmithKline Pharmaceuticals (GSK) <a href="https://www.mercomindia.com/gsk-pharma-to-procure-power-from-cleanmaxs-4-95-mw-solar-project" target="_blank" rel="noopener">announced</a> it will source power from a 4.95 MW solar project of Clean Max Galapagos, a special purpose vehicle (SPV) of CleanMax, in Maharashtra. GSK has approved an investment of ₹17.4 million (~$196,233.21) to acquire a 26% shareholding in the SPV under the group captive mechanism, which allows industrial consumers to jointly invest in renewable energy projects and utilize the generated power for their consumption. The power from the solar project will be utilized at GSK’s manufacturing plant in Nashik.</p>
<p>Decarbonization solutions company ReNew Energy Global (ReNew) <a href="https://www.mercomindia.com/renew-secures-331-million-from-adb-for-hybrid-renewable-energy-project" target="_blank" rel="noopener">secured</a> $331 million in debt funding from the Asian Development Bank to support the development of a large-scale clean energy project in Andhra Pradesh. ReNew said the Andhra Pradesh clean energy project integrates 837 MW of wind and solar capacity with a 415 MWh BESS. It aims to deliver 300 MW of peak power as well as a dependable baseload supply.</p>
<p>Haryana-based solar module manufacturer Saatvik Green Energy’s revenue <a href="https://www.mercomindia.com/saatvik-green-revenue-up-61-6-in-q2-on-sustained-solar-module-demand" target="_blank" rel="noopener">rose</a> 61.6% year-over-year (YoY) to ₹7.68 billion (~$86.62 million) in the second quarter (Q2) of the financial year (FY) 2026, from ₹4.75 billion (~$53.60 million). Earnings before interest, taxes, depreciation, and amortization totaled ₹1.23 billion (~$13.93 million), up 39% from ₹889 million (~$10.02 million). Profit after tax stood at ₹832 million (~$9.4million), rising 36.4% YoY from ₹610 million (~$6.9 million).</p>
<p>U.S.-based solar tracker company Array Technologies’ revenue <a href="https://mercomindia.com/array-technologies-posts-strong-q3-results-on-steady-tracker-demand" target="_blank" rel="noopener">surged</a> 70% YoY to $393.49 million in Q3 of 2025, from $231.41 million. The increase in revenue was primarily due to the steady execution of projects in the U.S. and international markets, including higher volumes in Latin America, Europe, and India. The company reported net income of $18.35 million in Q3, compared to $155.4 million loss in the corresponding period last year. Earnings per share for the quarter were $0.30, compared with $0.17 in the prior year.</p>
<p>Israel-based solar inverter manufacturer SolarEdge <a href="https://www.mercomindia.com/solaredges-revenue-rises-45-yoy-in-q3-on-strong-us-sales" target="_blank" rel="noopener">reported</a> revenue of $340.2 million in Q3 of 2025, representing a 44.5% YoY increase from $235.4 million. The company posted a net loss of $18.35 million in Q3 2025, a 97.9% YoY improvement from a net loss of $899.76 million. Revenue from the U.S. market totaled $203 million, accounting for 60% of its total revenue.</p>
<p>Over 30 members of the European Parliament <a href="https://www.mercomindia.com/eu-lawmakers-want-chinese-solar-inverters-restricted-on-security-concerns" target="_blank" rel="noopener">urged</a> the European Commission to take immediate action to restrict access of Chinese inverters to the European electricity grid. In a letter addressed to the Commission’s Executive Vice President and Commissioner, the members referred to the threats associated with high-risk Chinese vendors, particularly since 80% of all new solar inverter capacity installed in Europe in 2024 originated from China. Huawei, designated as a high-risk vendor by the Commission, accounted for over 115 GW of Europe’s solar inverter market as of 2023. It is one of six Chinese vendors that collectively control more than two-thirds of the European market (219 GW), the letter said.</p>
<p>The Philippines’ Department of Energy (DOE) <a href="https://www.mercomindia.com/philippines-awards-10-gw-of-renewable-energy-capacity-in-gea-4-auction" target="_blank" rel="noopener">awarded</a> 10,195.49 MW of renewable energy capacity to 123 bidders in the fourth round of its Green Energy Auction Program (GEA-4). DOE released the Terms of Reference for GEA-4 in March this year. The winning bidders will utilize a diverse mix of technologies, including ground-mounted, rooftop, and floating solar systems, as well as integrated renewable energy with energy storage, and onshore wind systems. The department stated that the awarded capacity represents 96% of the target capacity for this auction round. The projects are expected to be delivered between 2026 and 2029.</p>


Daily News Wrap-Up: APM Projects Bags MES’ 2.3 MW Rooftop Solar EPC Auction

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