Form Energy Raises $750 Million to Scale Iron-Air Battery Production

Londian Wason Raises $94.3 Million in New York Stock Exchange IPO

Saatvik Green’s Q1 Revenue Falls 44% as Manufacturing Expansion Continues

PFC Consulting Invites Bids for Transmission System in Jammu & Kashmir

Uttar Pradesh Adopts Tariffs for 31 MW Solar Projects Under KUSUM

Fall in Battery Hardware Resales Pulls Stem’s Q2 Revenue Down 12% YoY

Karnataka Floats Consultancy Tender for 2.5 GW Pumped Storage Project

UPERC Allows Solar Project Developers to Sign PPAs under Special Purpose Vehicles

Daily News Wrap-Up: India Adds 27 GW of Solar in 1H 2026

Solar Module Prices Set to Rise as Procurement Rush Builds Ahead of ALMM-II Deadline


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					</table><p>Solar <a href="https://www.mercomindia.com/solars-share-in-indias-renewable-capacity-climbs-to-56-4-in-q2-2026" target="_blank" rel="noopener">continued</a> to dominate India’s renewable energy landscape. Installed solar capacity reached 163.7 GW, accounting for 29.7% of the country’s total power capacity and 56.4% of its renewable energy capacity. The addition of new projects during the quarter increased installed solar capacity by 7.7% quarter-over-quarter and 40.7% year-over-year (YoY), underscoring solar’s continued leadership in India’s capacity expansion and its growing contribution to the country’s evolving power mix.</p>
<p>The Central Electricity Authority (CEA) recommended the <a href="https://www.mercomindia.com/cea-favors-100-grid-forming-inverters-for-future-battery-storage-projects" target="_blank" rel="noopener">use</a> of 100% grid-forming (GFM) inverters in all future battery energy storage system projects to strengthen grid stability as renewable energy capacity continues to grow.</p>
<p>During an interview on the sidelines of the Mercom India Renewables Summit 2026, held in New Delhi on July 1 and 2, Amit Barve, CEO at Rayzon Solar <a href="https://www.mercomindia.com/solar-supply-chain-hit-by-mismatch-in-module-and-cell-manufacturing-capacity" target="_blank" rel="noopener">discussed</a> the mismatch between solar manufacturing capacity and market demand, shortages of cells compliant with domestic content requirements, implementation timelines for wafers and ingots, skilled workforce requirements, and the technologies likely to shape the future of India’s solar manufacturing sector.</p>
<p>The Indian Institute of Technology Jammu <a href="https://www.mercomindia.com/iit-jammu-invites-eois-for-2-2-mw-solar-project-with-8-mwh-battery-storage" target="_blank" rel="noopener">invited</a> expressions of interest (EoIs) to commission a 2.2 MW hybrid solar project integrated with an 8 MWh battery energy storage system at its Jagti campus in Jammu and Kashmir. The last date to submit the bids is August 14, 2026. Bids will be opened on August 17, 2026.</p>
<p>SJVN <a href="https://www.mercomindia.com/sjvn-invites-bids-for-265-mw-530-mwh-battery-storage-project-in-haryana" target="_blank" rel="noopener">invited</a> bids to develop 265 MW/530 MWh of standalone battery energy storage systems in Haryana. The last date to submit bids is August 21, 2026. Bids will be opened the same day.</p>
<p>The Solar Energy Corporation of India <a href="https://www.mercomindia.com/seci-tenders-5-29-mw-rooftop-solar-projects-at-eight-government-institutions" target="_blank" rel="noopener">invited</a> bids to select solar power developers to set up 5.29 MW of rooftop solar projects across eight government institutions under the Renewable Energy Service Company model (Tranche XII). The last date to submit bids is August 31, 2026. Bids will be opened by September 3.</p>
<p>Waaree Renewable Technologies <a href="https://www.mercomindia.com/waaree-renewable-bags-epc-contract-for-800-mw-solar-projects" target="_blank" rel="noopener">received</a> letters of award for engineering, procurement, and construction contracts for two ground-mounted solar projects with a combined capacity of 800 MW. The projects have an individual capacity of 400 MW each.</p>
<p>Bondada Engineering <a href="https://www.mercomindia.com/bondada-acquires-60-stake-in-onixs-225-mw-solar-project-in-maharashtra" target="_blank" rel="noopener">acquired</a> a 60% equity stake in Onix IPP, which entitles the company to a controlling interest in a 225 MW solar power project in Maharashtra, under the Mukhyamantri Saur Krushi Vahini Yojana 2.0.</p>
<p>The Indian Energy Exchange <a href="https://www.mercomindia.com/iex-revenue-rises-11-in-q1-fy-2027-as-power-trading-volume-grows" target="_blank" rel="noopener">reported</a> revenue from operations of ₹1.58 billion (~$16.33 million) in the first quarter (Q1) of the financial year (FY) 2027, an 11.4% (YoY) increase from ₹1.42 billion (~$14.66 million).</p>
<p>Public infrastructure finance company REC <a href="https://www.mercomindia.com/rec-revenue-fell-3-profit-declines-by-6-in-q1-fy-2027" target="_blank" rel="noopener">recorded</a> revenue from operations of ₹144.35 billion (~$1.5 billion) for Q1 of FY 2027, down 3% YoY from ₹148.17 billion (~$1.54 billion).</p>
<p>NTPC Green Energy <a href="https://www.mercomindia.com/ntpc-green-energys-q1-profit-rises-38-yoy-on-higher-generation" target="_blank" rel="noopener">reported</a> a net profit of ₹3.05 billion (~$31.55 million) in Q1 of FY 2027, a 38% increase YoY from ₹2.2 billion (~$22.76 million). The company reported a total income of ₹11.22 billion (~$116.06 million), up 49% YoY from ₹7.52 billion (~$77.79 million).</p>
<p>The Lebanon Electricity Regulatory Authority <a href="https://www.mercomindia.com/lebanon-invites-eois-for-350-mw-solar-1000-mwh-battery-storage-projects" target="_blank" rel="noopener">invited</a> EoIs for developing up to five grid-connected solar projects with a combined installed capacity of 350 MWp and battery energy storage systems totaling 1,000 MWh.</p>
<p>CS PowerTech, the U.S. manufacturing subsidiary of Canadian Solar, <a href="https://www.mercomindia.com/canadian-solar-subsidiary-opens-first-phase-of-6-gw-solar-cell-plant" target="_blank" rel="noopener">inaugurated</a> the first phase of its solar cell manufacturing facility in Jeffersonville, Indiana. Once fully built out, the facility is expected to have an annual production capacity of more than 6 GW.</p>


Daily News Wrap-Up: Solar’s Share in Renewables Rises to 56.4%


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					</table><p>India <a href="https://www.mercomindia.com/indias-solar-imports-rise-14-qoq-in-q1-2026-exports-continue-to-decline" target="_blank" rel="noopener">imported</a> solar cells and modules worth over $1.27 billion (~₹116 billion) in the first quarter (Q1) of 2026, a 2.8% year-over-year decline from $1.3 billion (~₹112.9 billion) in Q1 2025, according to data from the Department of Commerce. On a quarter-over-quarter (QoQ) basis, combined module and cell imports increased by 14.3% from over $1.11 billion (~₹98.8 billion). Solar module imports rose 81.2%, while cell imports declined 1.9% from the previous quarter.</p>
<p>The Ministry of New and Renewable Energy (MNRE) <a href="https://www.mercomindia.com/mnre-sets-dcr-portal-route-for-almm-list-ii-extension-requests" target="_blank" rel="noopener">directed</a> renewable energy developers to submit requests for exemption from compliance with the Approved List of Models and Manufacturers (ALMM) List-II for solar cells only through the dedicated domestic content requirement (DCR) portal. The requests must be submitted along with all the supporting documents and evidence.</p>
<p>The Uttar Pradesh Electricity Regulatory Commission <a href="https://www.mercomindia.com/uttar-pradesh-adopts-tariff-for-56-mw-of-solar-power-under-kusum" target="_blank" rel="noopener">adopted</a> a tariff of ₹2.98 (~$0.0312)/kWh for the procurement of 56 MW of solar power under Component C2 of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan program. It also approved 28 power purchase agreements signed by the successful bidder, Nacof Oorja (with MKC NOPL Green Energy as the SPV), and the Uttar Pradesh Power Corporation.</p>
<p>India’s power transmission gap is <a href="https://www.mercomindia.com/grid-delays-mount-as-36-critical-ists-lines-cross-commissioning-date" target="_blank" rel="noopener">widening</a>, with the latest official data flagging schedule slippages in 36 critical interstate transmission system lines. The scheduled commercial operation dates for these under-construction transmission lines, with a combined length of 10,321 circuit kilometers, had elapsed as of April 30, 2026, according to the Central Transmission Utility of India.</p>
<p>Rooftop solar installations under the PM Surya Ghar: Muft Bijli Yojana have <a href="https://www.mercomindia.com/pm-surya-ghar-crosses-four-million-but-fy-2027-target-remains-distant" target="_blank" rel="noopener">crossed</a> the four million milestone, according to data from the MNRE and Mercom India Research. In social media posts, Minister for New and Renewable Energy Pralhad Joshi said India’s solar revolution is becoming a true people’s movement, with states across the nation rapidly embracing rooftop solar through the PM Surya Ghar program.</p>
<p>Solar engineering, procurement, and construction (EPC) contractors are <a href="https://www.mercomindia.com/indias-solar-epc-market-shifting-toward-digital-simulation-tools-interview" target="_blank" rel="noopener">increasingly</a> turning to design and simulation platforms to cut proposal delays, improve design accuracy, and connect field assessments with simulation, financial modeling, and procurement workflows. In an exclusive interview with Mercom India, Shashank Jha and Kalyan Tarafdar, co-founders at Reslink, which provides software and hardware for renewable energy EPC contractors to accelerate projects.</p>
<p>NTPC Green Energy (NGEL) <a href="https://www.mercomindia.com/ntpc-green-energy-tenders-7-8-gwh-battery-storage-systems-in-rajasthan" target="_blank" rel="noopener">invited</a> bids to develop 7,800 MWh of battery energy storage systems at NTPC Renewables’ (NTPC REL) solar project in Bikaner. The scope of work includes design, engineering, supply, packing, transportation, unloading, storage, installation, and commissioning of the grid-connected battery energy storage systems on a turnkey basis.</p>
<p>NGEL <a href="https://www.mercomindia.com/ntpc-green-energy-invites-bids-for-3-3-gwh-battery-storage-systems-in-gujarat" target="_blank" rel="noopener">invited</a> bids to develop 3,300 MWh of battery energy storage systems at NTPC REL’s solar project in Khavda, Gujarat. The scope of work includes the design, engineering, supply, packing and forwarding, transportation, unloading, storage, installation, testing, and commissioning of the grid-connected battery storage system on a turnkey basis.</p>
<p>NGEL <a href="https://www.mercomindia.com/ntpc-green-issue-epc-tender-for-3-2-gwh-battery-storage-project-in-rajasthan" target="_blank" rel="noopener">invited</a> bids for EPC of 3,200 MWh of battery storage systems at NTPC REL’s solar project in Fatehgarh, Rajasthan. The last date to submit bids is June 25, 2026. Bids will be opened on the same day. The scope of work entails design, engineering, supply, packing, forwarding, transportation, unloading, storage, installation, and commissioning of grid-connected battery storage projects.</p>
<p>The Solar Energy Corporation of India <a href="https://www.mercomindia.com/seci-invites-bids-for-12-25-mw-rooftop-solar-projects-across-india" target="_blank" rel="noopener">issued</a> a request for selection to set up 12,250 kW of grid-connected rooftop solar projects on the buildings of Jawahar Navodaya Vidyalayas (Tranche-XI) in 21 states and union territories under the renewable energy service company model.</p>
<p>Global energy investment is <a href="https://www.mercomindia.com/global-energy-investment-hits-3-4-trillion-as-security-concerns-reshape-spending" target="_blank" rel="noopener">expected</a> to reach $3.4 trillion in 2026, a 5% increase from 2025, as spending rises on electricity systems, energy security, and domestic energy resources, according to the latest World Energy Investment 2026 report released by the International Energy Agency.</p>
<p>AusEnergy Services <a href="https://www.mercomindia.com/south-australia-awards-1-3-gw-of-battery-storage-projects" target="_blank" rel="noopener">awarded</a> six long-duration battery storage projects totaling 1,334 MW/5,336 MWh under the first Firm Energy Reliability Mechanism auction in South Australia. The projects must be designed to deliver a cumulative committed output of 517 MW/4,136 MWh and be capable of continuous dispatch for at least 8 hours during periods of tight supply-demand balance.</p>


Daily News Wrap-Up: India’s Solar Imports Jump 14% QoQ in Q1 2026


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					</table><p>Adani Green Energy (<a href="https://www.adanigreenenergy.com/" target="_blank" rel="noopener">AGEL</a>), through its step-down subsidiaries, has commissioned 360.5 MW of renewable energy projects at Bandha in Rajasthan, and Khavda in Gujarat.</p>
<p>It has also operationalized 1,376 MWh battery storage projects in Khavda.</p>
<p>The commissioned renewable energy projects comprise 137.5 MW in Bandha and 223 MW in Khavda.</p>
<p>The projects include Adani Green Energy Twenty-Five C’s 50 MW solar and 65 MW wind project, Adani Green Energy Twenty-Six A’s 108 MW solar project, and Adani Green Energy Twenty-Five B’s 137.5 MW solar project.</p>
<p>With the commissioning of the projects, Adani Green has increased its operational renewable energy capacity to 19,293.8 MW and battery storage capacity to 1,376 MWh. The battery storage capacity was commissioned within eight months of starting work at the site, supporting grid stability and renewable integration.</p>
<p>The projects will commence power generation from April 1, 2026.</p>
<p>The battery storage projects operationalized comprise Adani Renewable Energy Forty Three’s 953 MWh energy storage project and Adani Renewable Energy Thirty Seven’s 423 MWh energy storage project.</p>
<p>In the financial year 2026, Adani Green commissioned more than 5 GW of renewable energy projects. These include 3.4 GW of solar, 686 MW of wind, and 956 MW of wind-solar hybrid projects.</p>
<p>Most of its renewable energy projects have been commissioned in Khavda.  Of the 30 GW of renewable energy projects planned for Khavda by 2029, the company has already commissioned 9.4 GW.</p>
<p>Sagar Adani, Executive Director at Adani Green, said the addition of over 5 GW of new capacity strengthens the company’s progress towards its target of 50 GW by 2030.</p>
<p>In March, Adani Green <a href="https://www.mercomindia.com/adani-green-commissions-951-mw-renewable-capacity-in-rajasthan-and-gujarat" target="_blank" rel="noopener">commenced</a> operations for  951 MW of renewable power projects through its subsidiaries, with capacities spread across Baiya in Rajasthan (251 MW) and Khavda (700 MW).</p>
<p>In the third quarter of the financial year 2026, Adani Green <a href="https://mercomindia.com/adani-greens-q3-revenue-rose-21-yoy-on-high-capacity-additions" target="_blank" rel="noopener">reported</a> revenue of ₹24.2 billion (~$263.63 million), a 21% year-over-year increase from ₹19.93 billion (~$217.11 million).</p>


Adani Green Operationalizes 361 MW Renewables, 1.4 GWh Battery Projects


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					</table><p>The government has begun <a href="https://www.mercomindia.com/mop-invokes-emergency-clause-to-boost-coal-power-output-amid-demand-surge" target="_blank" rel="noopener">invoking</a> emergency powers under Section 11 of the Electricity Act to direct coal-based thermal power plants to increase generation, given the prevailing demand-supply situation and the expected rise in power demand in the coming months. Earlier this month, the Ministry of Power (MoP) directed Coastal Power Gujarat, a Tata Power-owned company, to generate power at full capacity from April 1 to June 30, 2026.</p>
<p>Coal India and Sarus Infrastructures <a href="https://www.mercomindia.com/coal-india-saurus-infra-won-tggencos-1-5-gwh-battery-storage-systems-auction" target="_blank" rel="noopener">won</a> the Telangana Power Generation Corporation (TGGENCO) auction to set up 375 MW/1,500 MWh standalone battery storage systems. Coal India and Sarus Infrastructures won 187.5 MW/750 MWh each for setting up battery storage systems at the Choutuppal and Maheswaram substations, respectively. The tender was floated in November 2025.</p>
<p>G R Infraprojects,  Enviro Infra Engineers, Solarworld Energy Solutions, NTPC GE Power Services, Pace Digitek, and Enrich Energy <a href="https://www.mercomindia.com/ntpc-announces-2-3-gwh-energy-storage-auction-winners" target="_blank" rel="noopener">won </a>NTPC’s auction to set up 2,334 MWh of battery energy storage systems at its thermal power stations across Karnataka, Maharashtra, Bihar, Andhra Pradesh, and Telangana (Lot-I). The tender was issued on September 30, 2025.</p>
<p>Adani Energy Solutions has been <a href="https://www.mercomindia.com/adani-energy-solutions-bags-transmission-augmentation-project-in-maharashtra/" target="_blank" rel="noopener">selected</a> by PFC Consulting to develop the interstate transmission system (ISTS) for the drawal of power from the South Kalamb substation: Part A in Maharashtra. While not a standalone renewable energy evacuation project, the ISTS is linked to a broader transmission system that evacuates power from the Rajasthan REZ Phase IV (Barmer complex), which comprises 6 GW of solar capacity.</p>
<p>The Central Electricity Regulatory Commission <a href="https://www.mercomindia.com/cerc-extends-applicability-of-deviation-pool-rules-until-october-2026" target="_blank" rel="noopener">extended</a> the applicability of the existing mechanism for sharing deficits in the Deviation and Ancillary Service Pool Account under the Deviation Settlement Mechanism Regulations, 2024. The Commission ruled that the current cost-sharing formula, which is based on a 50% drawal and 50% General Network Access, will continue until October 4, 2026, instead of ending on March 31, 2026.</p>
<p>The Rajasthan Electricity Regulatory Commission <a href="https://www.mercomindia.com/rajasthan-regulator-notifies-resource-adequacy-regulations" target="_blank" rel="noopener">notified</a> the Framework for Resource Adequacy Regulations, 2026, which outlines a mechanism for planning generation and transmission resources to meet projected power demand. The regulations apply to generating companies, distribution licensees (DISCOMs), the State Load Despatch Center, the State Transmission Utility, other grid-connected entities, the power procuring entity on behalf of DISCOMs, and stakeholders in Rajasthan.</p>
<p>The Maharashtra Electricity Regulatory Commission <a href="https://www.mercomindia.com/maharashtra-tariff-for-surplus-rooftop-solar-power-in-fy-2027" target="_blank" rel="noopener">approved</a> a generic tariff of ₹2.82 (~$0.030)/kWh for surplus rooftop solar power, along with variable charges of ₹6.85 (~$0.073)/kWh for biomass projects and ₹5.29 (~$0.056)/kWh for non-fossil fuel-based co-generation projects for financial year (FY) 2026–27. These tariffs remain largely unchanged from FY 2026.</p>
<p>NTPC Renewable Energy, a wholly-owned subsidiary of NTPC Green Energy <a href="https://www.mercomindia.com/ntpc-group-adds-180-mw-solar-capacity-at-bhadla-and-khavda-projects" target="_blank" rel="noopener">announced</a> the commercial operation of 180 MW of solar capacity across two renewable energy projects. The company stated that the third and final tranche of 75 MW out of the total 500 MW Bhadla solar project, located in Phalodi, Rajasthan, has achieved commercial operation with effect from March 25, 2026.</p>
<p>Gujarat-based embedded electronics and power systems company Bacancy Systems <a href="https://www.mercomindia.com/bacancy-secures-%E2%82%B9400-million-to-expand-ev-and-railway-electronics-business" target="_blank" rel="noopener">raised</a> ₹400 million (~$4.24 million) in a Series A funding round led by Sabre Partners and Greenstone Capital, both of which have acquired minority stakes through primary investments. The company plans to utilize the funds to scale its manufacturing capabilities, accelerate product development, strengthen research and development, and expand into international markets.</p>
<p>Adani Green Energy <a href="https://www.mercomindia.com/adani-green-commissions-951-mw-renewable-capacity-in-rajasthan-and-gujarat" target="_blank" rel="noopener">operationalized</a> 951 MW of renewable power projects through its subsidiaries, with capacities spread across Baiya in Rajasthan (251 MW) and Khavda in Gujarat (700 MW). With this addition, AGEL’s total operational renewable generation capacity has increased to 18,933 MW.</p>
<p>The Solar Energy Corporation of India <a href="https://www.mercomindia.com/seci-signs-deals-for-supply-of-724000-tpa-green-ammonia-to-fertilizer-units" target="_blank" rel="noopener">signed</a> six agreements with manufacturers to supply 670,000 tons per annum of green ammonia to fertilizer companies, out of an allocated capacity of 724,000 tons per annum. Union Minister of New and Renewable Energy Pralhad Joshi said the 10-year agreements will provide demand certainty for the industry, enable financial closure, and support large-scale investments in green ammonia production.</p>
<p>Government-owned oil marketing companies have <a href="https://www.mercomindia.com/oil-firms-install-27737-ev-chargers-between-fy-2021-fy-2026" target="_blank" rel="noopener">installed</a> 27,737 electric vehicle public charging stations (EV PCS) across the country between FY 2021 and FY 2026. Additionally, they installed 8,932 EV PCS under the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) program, which provides a capital subsidy. The Ministry of Heavy Industries recently informed Parliament that 22,753 of the 27,737 installed EV PCS are currently operational.</p>
<p>The Central Mine Planning and Design Institute, a subsidiary of Coal India, <a href="https://www.mercomindia.com/cmpdi-invites-bids-for-25-mw-solar-power-project-in-dhanbad" target="_blank" rel="noopener">invited</a> bids to develop a 25 MW solar power project for Bharat Coking Coal at the Dugdha Coal Washery in Dhanbad, Jharkhand. The successful bidder will also be responsible for the operation and maintenance of the project for ten years. The last date to submit bids is April 29, 2026.</p>
<p>Germany’s Federal Network Agency <a href="https://www.mercomindia.com/germany-invites-bids-for-2-5-gw-onshore-wind-475-mw-innovation-projects" target="_blank" rel="noopener">invited</a> bids for 2.5 GW of onshore wind power projects and 475 MW of renewable energy projects under the innovation tender. The last date to submit bids is May 4, 2026. Bidders must quote a tariff not exceeding the ceiling of €0.0725 (~$0.083)/kWh. Projects that have already been awarded capacities can also participate in the tender and may expand their awarded capacity by up to 15%.</p>
<p>The global solar industry is <a href="https://www.mercomindia.com/global-pv-equipment-market-to-reach-43-8-billion-by-2035-report" target="_blank" rel="noopener">entering</a> a decisive expansion phase, with photovoltaic manufacturing equipment investments projected to reach $250-$300 billion by 2035, and annual equipment spending is projected to rise from about $16.6 billion in 2025 to $43.8 billion by 2035.</p>


Daily News Wrap-Up: MoP Invokes Emergency Clause to Raise Coal Power Output


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					</table><p>The Uttar Pradesh Electricity Regulatory Commission (<a href="https://www.uperc.org/" target="_blank" rel="noopener">UPERC</a>) has approved tariffs of ₹6.64 (~$0.07)/kWh and ₹6.65 (~$0.07)/kWh for NTPC Vidyut Vyapar Nigam&#8217;s (<a href="https://www.nvvn.co.in/" target="_blank" rel="noopener">NVVN</a>) 250 MW/1,000 MWh standalone battery energy storage projects.</p>
<p>The Commission also approved a trading margin of ₹0.07(~$0.0007)/kWh.</p>
<p><strong>Background</strong></p>
<p>The petitioner, NVVN, issued a tender to supply energy from 250 MW/1,000 MWh interstate transmission system- connected battery energy storage projects. The tender also included a greenshoe option of the same capacity.</p>
<p>The Ministry of Power (MoP) had nominated NVVN as the implementing agency for developing the 2,000 MWh of battery storage projects allocated to NTPC. It also provided viability gap funding of up to ₹13.5 billion (~$145.69 million) to NTPC, NHPC, and SJVN to develop 5,000 MWh of battery energy storage capacity.</p>
<p>The tender was floated at the request of Uttar Pradesh Power Corporation (UPPCL), which agreed to offtake the entire 2 GWh of stored energy. However, NVVN floated a tender for 1 GWh capacity out of the 2 GWh allocated.</p>
<p>NVVN received bids from 11 bidders, with 10 bidders qualifying for the techno- commercial round.</p>
<p>Eight bidders quoted tariffs ranging from ₹6.64 (~$0.07)/kWh to ₹7.99 (~$0.086)/kWh in the e-reverse auction.</p>
<p>Subsequently, NVVN <a href="https://www.mercomindia.com/sunsure-and-enerica-bag-nvvns-250-1000-mwh-bess-auction" target="_blank" rel="noopener">awarded</a> Sunsure Energy and Enrica Infra, each with 125/500 MWh, at tariffs of ₹6.64 (~$0.07)/kWh and ₹6.65 (~$0.07)/kWh, respectively.</p>
<p><strong>Commission&#8217;s Analysis</strong></p>
<p>After considering the petitioner&#8217;s submissions, the Commission ruled that tariffs were determined through a competitive bidding process and approved tariffs of ₹6.64 (~$0.07)/kWh and ₹6.65 (~$0.07)/kWh.</p>
<p>The Commission also approved a trading margin of ₹0.07 (~$0.0007)/kWh.</p>
<p>The Commission directed NVVN and the successful bidders to ensure that the projects are completed by February 2027.</p>
<p>It noted that commissioning these projects would help UPPCL manage its peak load effectively.</p>
<p>In February 2026, UPERC <a href="https://www.mercomindia.com/uttar-pradesh-commission-adopts-tariff-for-a-1500-mwh-bess-project" target="_blank" rel="noopener">adopted</a> tariffs ranging between ₹359,000 (~$3,923)/MW per month and ₹359,999 (~$3,934)/MW per month for a 375 MW/1,500 MWh standalone battery storage project to be set up in Uttar Pradesh under the VGF program.</p>


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