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					</table><a href="https://ntpc.co.in/" target="_blank" rel="noopener">NTPC</a> has invited bids for implementing a 1,153 kW grid-connected rooftop solar power project in Maharashtra for the Indian Council of Medical Research (<a href="https://main.icmr.nic.in/" target="_blank" rel="noopener">ICMR</a>).
The last date for submitting bids is June 26, 2024. Bids will be opened the next day.
The scope of work includes installing solar photovoltaic systems on the rooftops of various ICMR and other government buildings. These systems should be installed in shadow-free areas to maximize power generation for each building.
The final capacity of each project will be determined based on detailed engineering and the approved rooftop design.
If rooftop access is not already available, a permanent staircase or ladder, at least 1.0 m wide and finished with primer and weather-resistant enamel paint, must be provided.
The successful bidder will be responsible for the design, engineering, testing, and all other activities, including a preliminary visual assessment of the roof, water, electricity, and security arrangements and determining the optimal capacity for the solar projects.
They will also handle the operation and maintenance activities for ten years.
Bidders must pay a bid security of ₹1 million (~$11,977).
Within 28 days of receiving the award notification, the successful bidder must provide securities amounting to 10% of the contract price for all the contracts.
These securities should initially be valid for 90 days beyond the end of the scheduled defect liability period of the last equipment covered under the contract.
Only enlisted bidders who are already qualified can submit bids.
The bidders&#8217; average annual turnover over the past three financial years should be at least ₹51.08 million (~$611,781) or the equivalent in foreign currency.
Their net worth as of the last day of the preceding financial year should be at least 100% of their paid-up share capital.
Recently, NTPC<a href="https://mercomindia.com/ntpc-invites-bids-for-power-supply-across-india/" target="_blank" rel="noopener"> invited</a> bids to select developers to supply 1,200 MW of firm and dispatchable power (assured peak power supply) from interstate transmission system -connected renewable energy projects anywhere in India on a built-own-operate arrangement.
Last month, NTPC Renewable Energy <a href="https://www.mercomindia.com/ntpc-renewable-energy-epc-225-mw-solar" target="_blank" rel="noopener">invited</a> bids for the engineering, procurement, and construction package for 225 MW of grid-connected solar power projects to be set up in the Gujarat State Electricity Corporation renewable energy park at Khavda.
Subscribe to Mercom&#8217;s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> for timely updates on all solar tenders issued by various agencies in India.

NTPC Invites Bids for 1.15 MW Rooftop Solar Project at ICMR

Apricus Generation, a holding company designed to build a national distributed solar and battery development platform and independent power producer (IPP), <a href="https://cms.mercomindia.com/apricus-generation-acquires-controlling-stake-nexus-renewables/" target="_blank" rel="noopener">acquired</a> a controlling stake in Nexus Renewables, a developer, owner, and operator of solar and energy storage projects under various stages of construction and development.
Energy Park, an EV charging solution provider, <a href="https://cms.mercomindia.com/ev-charging-solution-provider-energy-park-funding/" target="_blank" rel="noopener">secured</a> an initial £35 million (~$45 million) investment from Zouk Capital, manager of the UK Government’s Charging Infrastructure Investment Fund. With this funding, the company is set to accelerate its plans to provide charging facilities to residential sites across the UK.
Gireve, a France-based EV charging solutions provider, <a href="https://cms.mercomindia.com/ev-charging-firm-gireve-million-funding/" target="_blank" rel="noopener">raised</a> €20 Million (~$22 million) in a fresh funding round from the investor Partech through its impact fund. Existing shareholders like EDF Group, ENEDIS, the Banque des Territoires (Caisse des Dépôts), and Demeter also participated in this funding round. With this funding, the company plans to accelerate its platform expansion in Europe and internationally.
Jakson Green, the renewable energy arm of the Jakson Group, has <a href="https://www.mercomindia.com/jakson-green-sustainability-boost-from-hsbc" target="_blank" rel="noopener">obtained</a> a sustainable trade facility of ₹600 million (~$7.1 million) from HSBC India. The trade facility will help bolster the company’s operational needs within the renewable energy sector in India and overseas.
Electric vehicle company Euler Motors has <a href="https://www.mercomindia.com/ev-firm-euler-secures-series-c-funding-round" target="_blank" rel="noopener">closed</a> its Series C funding round, securing ₹2 billion (~$23.9 million) and taking the total funding raised so far to ₹5.7 million (~$68,358). The round was led by internal investors such as British International Investment, Blume Venture, and new investor Piramal Alternatives India Access Fund. The newly acquired funds will be used to expand its nationwide presence and service infrastructure. By 2025, the company plans to operate in over 40 cities.
Maxvolt Energy, a manufacturer of lithium battery packs, has <a href="https://www.mercomindia.com/maxvolt-energy-secures-1-5-million" target="_blank" rel="noopener">raised</a> $1.5 million from angel investors to introduce fast-charging lithium-ion batteries and build recycling plants. The company said that the capital injection will support Maxvolt’s research and development into lithium battery architectures for electric vehicles such as scooters and rickshaws, energy storage systems, and medical devices.
Zypp Electric, an electric vehicle (EV)-as-a-service platform, has <a href="https://www.mercomindia.com/zypp-bags-15-million-to-expand-ev-fleet-across-15-cities-in-india" target="_blank" rel="noopener">raised</a> $15 million in its Series C funding round, allowing the company to expand its fleet from 21,000 to 200,000 e-scooters across 15 Indian cities by 2026. The funding round, led by Japanese major ENEOS, comprised $15 million in equity as part of its ongoing $50 million round, which includes $40 million in equity and $10 million in debt.
Maxeon Solar Technologies, a Singapore-based solar solutions provider, has <a href="https://cms.mercomindia.com/maxeon-solar-technologies-secures-debt-financing/" target="_blank" rel="noopener">secured</a> a $97.5 million debt financing from the company’s largest shareholder, TCL Zhonghuan Renewable Energy Technology (TZE). TZE also committed to an additional $100 million equity investment, in each case subject to regulatory approvals. The transaction will substantially dilute existing public shareholders, with TZE ultimately becoming a controlling shareholder. The funding infused will be used as capital to support the company’s operations.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-recurrent-energy-secures-1-4-billion/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Apricus Acquires Controlling Stake in Nexus

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-apricus-acquires-controlling-stake-in-nexus/" target="_blank" rel="noopener">Mercom Capital Group</a>
Apricus Generation, a holding company designed to build a national distributed solar and battery development platform and independent power producer (IPP), <a href="https://mercomcapital.com/apricus-generation-acquires-controlling-stake-nexus-renewables/" target="_blank" rel="noopener">acquired</a> a controlling stake in Nexus Renewables, a developer, owner, and operator of solar and energy storage projects under various stages of construction and development.
Energy Park, an EV charging solution provider, <a href="https://mercomcapital.com/ev-charging-solution-provider-energy-park-funding/" target="_blank" rel="noopener">secured</a> an initial £35 million (~$45 million) investment from Zouk Capital, manager of the UK Government’s Charging Infrastructure Investment Fund. With this funding, the company is set to accelerate its plans to provide charging facilities to residential sites across the UK.
Gireve, a France-based EV charging solutions provider, <a href="https://mercomcapital.com/ev-charging-firm-gireve-million-funding/" target="_blank" rel="noopener">raised</a> €20 Million (~$22 million) in a fresh funding round from the investor Partech through its impact fund. Existing shareholders like EDF Group, ENEDIS, the Banque des Territoires (Caisse des Dépôts), and Demeter also participated in this funding round. With this funding, the company plans to accelerate its platform expansion in Europe and internationally.
Jakson Green, the renewable energy arm of the Jakson Group, has <a href="https://www.mercomindia.com/jakson-green-sustainability-boost-from-hsbc" target="_blank" rel="noopener">obtained</a> a sustainable trade facility of ₹600 million (~$7.1 million) from HSBC India. The trade facility will help bolster the company’s operational needs within the renewable energy sector in India and overseas.
Electric vehicle company Euler Motors has <a href="https://www.mercomindia.com/ev-firm-euler-secures-series-c-funding-round" target="_blank" rel="noopener">closed</a> its Series C funding round, securing ₹2 billion (~$23.9 million) and taking the total funding raised so far to ₹5.7 million (~$68,358). The round was led by internal investors such as British International Investment, Blume Venture, and new investor Piramal Alternatives India Access Fund. The newly acquired funds will be used to expand its nationwide presence and service infrastructure. By 2025, the company plans to operate in over 40 cities.
Maxvolt Energy, a manufacturer of lithium battery packs, has <a href="https://www.mercomindia.com/maxvolt-energy-secures-1-5-million" target="_blank" rel="noopener">raised</a> $1.5 million from angel investors to introduce fast-charging lithium-ion batteries and build recycling plants. The company said that the capital injection will support Maxvolt’s research and development into lithium battery architectures for electric vehicles such as scooters and rickshaws, energy storage systems, and medical devices.
Zypp Electric, an electric vehicle (EV)-as-a-service platform, has <a href="https://www.mercomindia.com/zypp-bags-15-million-to-expand-ev-fleet-across-15-cities-in-india" target="_blank" rel="noopener">raised</a> $15 million in its Series C funding round, allowing the company to expand its fleet from 21,000 to 200,000 e-scooters across 15 Indian cities by 2026. The funding round, led by Japanese major ENEOS, comprised $15 million in equity as part of its ongoing $50 million round, which includes $40 million in equity and $10 million in debt.
Maxeon Solar Technologies, a Singapore-based solar solutions provider, has <a href="https://mercomcapital.com/maxeon-solar-technologies-secures-debt-financing/" target="_blank" rel="noopener">secured</a> a $97.5 million debt financing from the company’s largest shareholder, TCL Zhonghuan Renewable Energy Technology (TZE). TZE also committed to an additional $100 million equity investment, in each case subject to regulatory approvals. The transaction will substantially dilute existing public shareholders, with TZE ultimately becoming a controlling shareholder. The funding infused will be used as capital to support the company’s operations.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-recurrent-energy-secures-1-4-billion" target="_blank" rel="noopener">roundup</a>.

<a href="https://energy-park.co.uk/" target="_blank" rel="noopener">Energy Park,</a> an EV charging solution provider, secured an initial £35 million (~$45 million) investment from Zouk Capital, manager of the UK Government’s Charging Infrastructure Investment Fund (CIIF). With this funding, the company plans to provide charging facilities to residential sites across the U.K.
Gavin Malone, Founder of Energy Park, said, “The demand for affordable EV charge points at apartment buildings and residential destinations is increasing rapidly, and with Zouk’s funding, we can grow quickly to become a leading provider of tailored EV charging solutions for more residential landlords.”
Due to the growing demand for EV charge points, it is challenging to install them in apartment buildings compared to home driveways and public charging stations, according to the company. However, Energy Park aims to change this by providing residents with access to more affordable charge points, along with reliable service and dedicated ongoing customer support.
George Ridd, Partner at Zouk, said, “With their deep knowledge and expertise in EV charging solutions and their offer of fully funded and scalable EV charging infrastructure, Energy Park is on a mission to remove barriers, unlock demand, and ultimately accelerate the electrification of the UK’s vehicles. This is fully in line with the CIIF’s central objective, and we at Zouk are very excited to be joining Gavin and his team on their journey.”
According to Mercom’s Q1 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2024-funding-ma-report-storage-grid/" target="_blank" rel="noopener">report</a> for Storage &amp; Smart Grid, Smart Grid VC funding increased 134% in Q1 2024, with $656 million raised in 12 deals compared to $280 million in 14 deals in Q1 2023. In a QoQ comparison, funding in Q1 2024 was 197% higher compared to Q4 2023, when $221 million was raised in 10 deals.
<a href="https://cms.mercomindia.com/ev-charging-firm-envirospark-secures-funding/" target="_blank" rel="noopener">Recently</a>, EnviroSpark, a provider of electric vehicle (EV) charging solutions, secured a $50 million investment from funds that will help the company expand its EV charging landscape, which is owned and operated across the U.S.

EV Charging Solution Provider Energy Park Secures $45 Million Funding

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					</table>NTPC Renewable Energy (<a href="https://ntpcrel.co.in/" target="_blank" rel="noopener">NTPC REL</a>), a wholly owned subsidiary of NTPC, has invited bids for the supply of solar modules for the 1,200 MW Khavda solar project (North Block) in Gujarat.
The scope of work includes manufacturing, supply, packing and forwarding, and transportation of open-category crystalline solar modules.
The last date for the submission of bids is March 5, 2024. Bids will be opened the same day.
The project&#8217;s DC capacity is 1,515 MWp, distributed across four blocks, with each block having a capacity of 378.75 MWp. The chosen type of photovoltaic module for this project is the bifacial module with a minimum wattage of 540 Wp.
NTPC REL intends to finance the project through its own resources/borrowings.
Bidders have to submit ₹22,500 (~$270.81) as the cost of the bidding document.
Bidders must have experience in providing solar photovoltaic modules or cells with a combined capacity of 40 MW or more. At least one of these supply orders should have been for a capacity of 10 MW or greater. This prerequisite must be fulfilled before the bid opening date.
To demonstrate compliance with the technical qualification requirements, the bidder needs to submit a purchase order along with a client certificate verifying the successful completion of the supply order.
Alternatively, any other relevant document substantiating the fulfillment of the technical qualification criteria should also be included in the bid submission.
Bidders must meet a minimum average annual turnover for any three out of the preceding five financial years as of the date of the bid opening.
<ul>
<li>For a bid capacity of one block (378.75 MW), the minimum average annual turnover should be ₹1.29 Billion (~$15.5 million)</li>
<li>If bidding for two blocks (757.5 MWp), the bidder&#8217;s average annual turnover must not be less than ₹2.58 Billion (~$31 million)</li>
<li>For three blocks (1,136.25 MWp), the minimum average annual turnover requirement is ₹3.87 Billion (~$46.5 million).</li>
<li>Bidders vying for four blocks (1,515 MWp) should have an average annual turnover of not less than ₹5.16 Billion (~$62 million).</li>
</ul>
In June last year, NTPC Renewable Energy <a href="https://www.mercomindia.com/ntpc-floats-bos-tender-solar-projects-gujarat" target="_blank" rel="noopener">invited</a> bids for the balance of system package for 1,255 MW (3*315 MW+1*310 MW) of solar projects at the Khavda Renewable Park.
Earlier, NTPC Renewable Energy had <a href="https://www.mercomindia.com/ntpc-cable-supply-tender-solar-gujarat" target="_blank" rel="noopener">invited</a> bids for an HT power cable supply package for the same project.
Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of real-time tender activity.

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