Daily News Wrap-Up: MNRE to Fund Perovskite Solar Manufacturing Pilot Line

Clean Energy Meets Key to Expanding Market Access and Industry Connect

Project Finance Brief: Fidra Secures $312 Million for Energy Storage Project

India’s AC Efficiency Norms Improve but Lag Behind World Leader Japan

Funding and M&A Roundup: PureSky Closes $62 Million Credit Financing

MENA Weekly Round-Up: Oman Tenders 1 GW of Solar Projects

Silver Demand Forecast to Drop 19% in 2026 on Lower Solar Cell Loadings

Midwest Energy Starts Production at 1.2 GWh Battery Storage Plant

Maharashtra Road Corporation Seeks 115 MW Solar Open Access Power

DCM Shriram to Procure 58 MW of Power from Serentica’s Hybrid Project


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					</table><p>The Ministry of New and Renewable Energy (MNRE) <a href="https://www.mercomindia.com/mnre-to-fund-pilot-line-for-perovskite-photovoltaic-manufacturing" target="_blank" rel="noopener">approved</a> the continuation of its Renewable Energy Research and Technology Development program from the financial year (FY) 2027 through FY 2031, with a total outlay of ₹4.37 billion (~$45.3 million). The program aims to strengthen India’s renewable energy research ecosystem, promote indigenous technology development and manufacturing, and accelerate the commercialization of advanced clean energy technologies. Among the projects that will be supported is a pilot line for the manufacturing of perovskite solar cells.</p>
<p>The Kerala State Electricity Regulatory Commission <a href="https://www.mercomindia.com/kerala-regulator-approves-discoms-revisions-to-300-mw-peak-power-tender" target="_blank" rel="noopener">approved</a> Kerala State Electricity Board’s proposal to revise the bid evaluation methodology for an ongoing tender to procure 300 MW of peak power for five years.</p>
<p>The Bihar Electricity Regulatory Commission <a href="https://www.mercomindia.com/bihar-regulator-approves-generic-renewable-energy-tariffs-for-fy-2027" target="_blank" rel="noopener">approved</a> the generic levelized tariffs for biomass, non-fossil fuel cogeneration, and waste-to-energy projects for FY 2026-27.</p>
<p>Power Grid Corporation of India <a href="https://www.mercomindia.com/powergrid-tenders-500-mw-1000-mwh-battery-energy-storage-projects" target="_blank" rel="noopener">invited</a> bids under a long-term agreement to develop 500 MW/1,000 MWh of standalone battery energy storage systems across India. The last date to submit bids is August 17. 2026. Bids will be opened on the same day.</p>
<p>Mahasamruddhi Renewable Energy (an SPV of Maharashtra State Road Development Corporation) <a href="https://www.mercomindia.com/maharashtra-road-corporation-seeks-115-mw-solar-open-access-power" target="_blank" rel="noopener">invited</a> bids for the long-term supply of solar power via open access (third-party or group captive) from 115 MW solar power projects proposed along the Hindu Hruday Samrat Balasaheb Thackeray Smaruddhi Mahamarg. The last date to submit bids is September 7, 2026. Bids will be opened on the following day.</p>
<p>Midwest Energy, the technology and clean energy arm of Hyderabad-based Midwest Business House, <a href="https://www.mercomindia.com/midwest-energy-starts-production-at-1-2-gwh-battery-storage-plant" target="_blank" rel="noopener">commenced</a> commercial production at its 1.2 GWh battery energy storage manufacturing facility in Bengaluru. The battery energy storage manufacturing facility began commercial production on July 20, 2026.</p>
<p>Diversified business group DCM Shriram <a href="https://www.mercomindia.com/dcm-shriram-to-procure-58-mw-of-power-from-serenticas-hybrid-project" target="_blank" rel="noopener">signed</a> agreements to source 58 MW of power from a hybrid renewable energy project to be developed by Serentica Renewables. DCM Shriram will invest around ₹1.05 billion (~$10.91 million) to acquire a 26% equity stake in Serentica Renewables India 38, to source power for its facility in Bharuch, Gujarat.</p>
<p>The U.S. <a href="https://www.mercomindia.com/us-starts-tariff-circumvention-probe-into-solar-imports-from-ethiopia" target="_blank" rel="noopener">initiated</a> an anti-circumvention inquiry to determine whether crystalline silicon solar cells and modules manufactured in Ethiopia and Vietnam using Chinese components are circumventing existing antidumping and countervailing duty orders on Chinese solar products.</p>
<p>Global silver demand from the photovoltaic sector is expected to <a href="https://www.mercomindia.com/silver-demand-forecast-to-drop-19-in-2026-on-lower-solar-cell-loadings" target="_blank" rel="noopener">decline</a> by 19% year-over-year to 151 million ounces in 2026. According to the World Silver Survey 2026 published by the Silver Institute, the decline follows a 6% drop in 2025, when photovoltaic silver demand fell to 186.6 million ounces from 197.5 million ounces the previous year.</p>
<p>Germany’s Federal Ministry for Economic Affairs and Energy <a href="https://www.mercomindia.com/germanys-move-to-cut-support-for-small-solar-systems-triggers-criticism" target="_blank" rel="noopener">issued</a> a draft law to support what it terms a planned, cost-efficient, grid-compatible and market-oriented expansion of renewable energies in the electricity sector.</p>
<p>Fidra Energy, a U.K.-based battery energy storage project developer, <a href="https://www.mercomindia.com/fidra-secures-312-million-debt-west-burton-battery-project" target="_blank" rel="noopener">reached</a> financial close on its 500 MW/1.1 GWh West Burton C battery storage project in Nottinghamshire, England.</p>
<p>Sonnedix, an independent solar power producer, <a href="https://www.mercomindia.com/sonnedix-acquires-260-mw-battery-storage-portfolio-in-italy" target="_blank" rel="noopener">announced</a> the acquisition of a 260 MW battery storage portfolio in Tuscania, Italy, from Sphera Energy. The portfolio comprises two adjacent standalone battery storage projects.</p>
<p>Piq Energy, a grid planning software company, <a href="https://www.mercomindia.com/grid-software-solutions-provider-piq-energy-raises-5-million" target="_blank" rel="noopener">raised</a> $5 million in an oversubscribed seed funding round led by Active Impact Investments. Cisco Foundation, Mobilize AI x Energy Ventures, New Climate Ventures, Ascent Energy Ventures, Umami Capital, CLAI Ventures, and 9Zero also participated in the round.</p>
<p>Oman’s Nama Power and Water Procurement Company <a href="https://www.mercomindia.com/mena-weekly-round-up-oman-tenders-1-gw-of-solar-projects" target="_blank" rel="noopener">invited</a> bids to procure electricity from solar projects totaling 1,000 MW. The projects must be commissioned by the second quarter of 2030. The deadline for bid submissions is August 26, 2026. Bidders must provide a tender bond equal to at least 1% of the tender value.</p>



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					</table><p><a href="https://www.mercomindia.com/seci-invites-bids-manufactured-solar-modules" target="_blank" rel="noopener"><strong>Solar Energy Corporation of India has invited bids for manufacturing, testing, packing, forwarding, supplying, and transporting 400 MW domestically manufactured solar modules</strong>.</a> The cells used in these modules must be manufactured in India. The last date for the submission of bids is December 23, 2023. Bids will be opened the same day. Bidder must submit bids for a minimum of 100 MW solar module supply capacity. They must submit bids for capacities in the multiples of 100 MW. Bidders cannot quote for any intermediary package capacities.</p>
<p><strong><a href="https://www.mercomindia.com/sjvn-bids-to-acquire-solar-projects-in-assam" target="_blank" rel="noopener">SJVN Green Energy, a subsidiary of SJVN, has invited bids to purchase or lease up to 1,000 acres of land in Assam for 28 years to develop 200 MW of solar power projects</a></strong>, including connectivity with the state transmission utility system. The selected land should have all necessary regulatory approvals, including chain link fencing around its boundaries. The last date for the submission of bids is December 26, 2023. Bids will be opened the same day. Bidders have to submit ₹5,900 (~$70.75) as the cost of the bid document.</p>
<p><strong><a href="https://www.mercomindia.com/adb-approves-250-million-loan-indias-power-sector">The Asian Development Bank has approved a $250 million (~₹20.8 billion) policy-based loan to strengthen India’s power sector</a>,</strong> supporting a speedy transition to renewable energy. The Power Sector Reform Program (Subprogram 1), the first phase of a two-part initiative, aims to develop markets for power trade and ancillary services, including policy actions to accelerate solar and renewable energy deployment, encourage renewables in agriculture, and optimize power project dispatch for emission reduction.</p>
<p><strong><a href="https://www.mercomindia.com/adani-bhel-jsw-lt-bidders-green-hydrogen-electrolyzer" target="_blank" rel="noopener">The Solar Energy Corporation of India’s tenders to set up 450,000 metric tons (MT)/annum production facilities for green hydrogen and 1.5 GW of electrolyzer manufacturing capacities</a></strong> across India has received an overwhelming response from industry majors in the country, according to Mercom sources. The tenders for green hydrogen and electrolyzer manufacturing were issued in July this year under the Ministry of New and Renewable Energy’s Tranche-I of the Strategic Interventions for Green Hydrogen Transition (SIGHT) program.</p>
<p><strong><a href="https://www.mercomindia.com/renew-blocks-transmission-3-1-gw-pipeline-projects" target="_blank" rel="noopener">Independent renewable power producer ReNew has blocked transmission capacity in advance for its 3.1 GW of awarded projects, which are pending power purchase agreements.</a></strong> At a recent investors’ conference call, ReNew Chairman Sumant Sinha emphasized the critical nature of blocking transmission capacity as a proactive approach. The letters of award for these projects have given the company a strategic advantage in securing transmission capacity.</p>
<p><strong><a href="https://www.mercomindia.com/average-cost-of-large-fell-13-yoy-in-q3" target="_blank" rel="noopener">The average cost of large-scale solar power projects in India declined by 13.4% year-over-year in the third quarter (Q3) of 2023</a></strong> following the drop in module prices. Large-scale solar system costs fell for the third quarter in a row. The average project costs decreased by 4.9% quarter over quarter (QoQ). The average selling price of Chinese mono PERC modules fell 29% QoQ and 52% YoY. The MNRE suspended the Approved List of Models and Manufacturers order, allowing developers to import low-cost modules until March 31, 2024.</p>
<p><a href="https://www.mercomindia.com/government-hydrogen-value-chain-technologies" target="_blank" rel="noopener"><strong>The Department of Science &amp; Technology has invited proposals to upgrade lab-scale technologies, which are at technology readiness levels</strong> </a>(TRL) 3-4, to reach prototypes (TRL 5) and pilot plants (TRL 6) for establishing a complete hydrogen value chain in India.  The projects funded under this initiative are expected to be completed within two to two to three years, with a maximum funding limit of ₹50 million (~$599,776)</p>


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