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Daily News Wrap-Up: SECI Announces 2 GW Solar Plus Storage Auction Winners

Textile Firm Sangam India to Source Wind-Solar Energy from Continuum


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					</table><p>Solar module manufacturer <a href="https://thegrewsolar.com/" target="_blank" rel="noopener">GREW Solar</a>, a subsidiary of <a href="https://chiripalgroup.com/" target="_blank" rel="noopener">Chiripal Group</a>, has raised ₹3 billion (~$34.09 million) from a group of investors, including those from GeeCee Holdings.</p>
<p>Grew Solar will utilize the funds to develop new products, strengthen its technological infrastructure, and drive capacity expansion across its facilities.</p>
<p>The new funding comes as the company plans to increase the capacity of its module manufacturing facility in Dudu, Rajasthan to 11 GW. The facility will include a state-of-the-art research and development laboratory to support innovation in solar technology and sustainable manufacturing practices.</p>
<p>Established in 2022, GREW Solar commissioned the 1.2 GW facility within the first year of operations. During the same period, the company also launched its M10 modules of up to 550 W capacity.</p>
<p>By 2025, the company scaled its operational capacity to 3 GW and is producing high-efficiency M10 TOPCon modules of up to 590 Wp.</p>
<p>In February this year, GREW Solar <a title="https://www.mercomindia.com/grew-solar-to-set-up-3-gw-cell-and-module-facility-in-madhya-pradesh" href="https://www.mercomindia.com/grew-solar-to-set-up-3-gw-cell-and-module-facility-in-madhya-pradesh" target="_blank" rel="noreferrer noopener">announced</a> it would invest ₹30 billion (~$345 million) to set up a 3 GW solar cell and module manufacturing facility in Narmadapuram, Madhya Pradesh. The 60-acre facility will be a three-stage, backward-integrated manufacturing unit utilizing TOPCon technology. The company plans to expand this facility to 8 GW by the end of 2026.</p>
<p>Last May, Grew Energy <a href="https://www.mercomindia.com/grew-energy-solar-facility-jammu-kashmir" target="_blank" rel="noopener">announced</a> plans to set up a 3.2 GW solar module manufacturing facility in Kathua, Jammu &amp; Kashmir. The company said it would invest ₹45 billion (~$ 538.8 million) to establish a fully integrated three-stage facility on 80 acres of land. Upon completion, the plant will have an annual production capacity of 3.2 GW of high-efficiency solar modules and 2.8 GW of solar ingots, wafers, and cells.</p>
<p>In April 2024, GREW Energy <a href="https://www.mercomindia.com/swelect-grew-renew-win-secis-auction-supply-400-mw-solar-modules" target="_blank" rel="noopener">emerged</a> as one of the winners of the Solar Energy Corporation of India’s auction to manufacture and supply 400 MW of solar modules. Grew Energy won 200 MW at a bid value of ₹22.66 (~$0.272)/Wp.</p>


Module Manufacturer GREW Solar Secures ₹3 Billion to Expand Capacity


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					</table><p><a href="https://www.mercomindia.com/india-adds-25-gw-capacity-2024" target="_blank" rel="noopener">India added 25.2 GW of solar capacity in the calendar year 2024, a 204% increase compared to the 8.3 GW added in 2023.</a> According to Mercom India’s latest Q4 and Annual 2024 India Solar Market Update Report, this marks the highest annual capacity addition in the country’s history. This growth was driven by large-scale solar projects, which accounted for over 87% of the total capacity additions, with rooftop solar contributing 13%.</p>
<p><a href="https://www.mercomindia.com/indias-solar-power-generation-rose-nearly-18-yoy" target="_blank" rel="noopener">India’s solar power generation rose nearly 18% year-over-year (YoY) to 133.8 billion units (BU) in 2024 from 113.4 BU, according to data</a> published by the Central Electricity Authority. In the first nine months (9M) of the calendar year 2024, the country added 16.4 GW of solar capacity, up 167% YoY from 6.2 GW. The commissioning of several previously delayed projects due to the fall in module prices drove capacity additions in 9M 2024.</p>
<p><a href="https://www.mercomindia.com/rising-costs-supply-shortages-dcr-modules" target="_blank" rel="noopener">The PM Surya Ghar: Muft Bijli Yojana and the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) are</a> the government’s key initiatives to help homeowners and farmers become energy prosumers. However, the increasing cost and limited supply of solar modules complying with domestic content requirements threaten these programs’ progress.</p>
<p><a href="https://www.mercomindia.com/budget-reactions-industry-applauds-national-manufacturing-mission" target="_blank" rel="noopener">The Union Budget 2025 received strong industry support for its emphasis on clean energy, domestic manufacturing, and infrastructure</a> development. The budget, presented to Parliament by Finance Minister Nirmala Sitharaman last week, has introduced several initiatives under the National Manufacturing Mission focused on strengthening India’s role in the global renewable energy supply chain.</p>
<p><a href="https://www.mercomindia.com/power-ministry-issues-draft-guidelines-to-designate-reias" target="_blank" rel="noopener">The Ministry of Power released draft guidelines for designating a company as a Renewable Energy Implementing Agency (REIA)</a>. Stakeholders can submit their comments and suggestions within 15 days. REIAs, as market makers, are responsible for carrying out the renewable energy project bidding process, signing power sale agreements with developers and power purchase agreements with the distribution licensees or consumers, and ensuring payment security to developers.</p>
<p><a href="https://www.mercomindia.com/india-slaps-anti-dumping-duties-on-solar-glass-imports-from-china-and-vietnam" target="_blank" rel="noopener">The Ministry of Commerce and Industry finalized anti-dumping duties on textured tempered solar glass imports from China and Vietnam</a>. A ministry investigation concluded that dumping of solar glass by the two countries had caused material injury to the domestic industry. To offset the impact of dumped imports on the domestic industry, the investigation found it necessary to impose anti-dumping duties on the solar glass imports.</p>
<p><a href="https://www.mercomindia.com/mnre-unveils-draft-design-and-testing-guidelines-for-solar-cold-storages" target="_blank" rel="noopener">The Ministry of New and Renewable Energy released draft guidelines on design, specifications, performance, and testing procedure</a> for solar cold storage with thermal energy storage backup. The guidelines will serve as a standard reference for all stakeholders, providing the basis for design specifications, performance, and testing standards for 2 MT, 5 MT, 10 MT, and 20 MT capacity solar cold storages with TES.</p>
<p><a href="https://www.mercomindia.com/guidelines-pumped-storage-projects" target="_blank" rel="noopener">The Ministry of Power issued tariff-based competitive bidding guidelines to procure stored energy from existing, under-construction</a>, or new Pumped Storage Projects. According to the National Electricity Plan 2023, there will be a need for approximately 74 GW/411 GWh of energy storage systems by 2031-32. This includes 27 GW/175 GWh from PSP and 47 GW/236 GWh from Battery Energy Storage Systems.</p>
<p><a href="https://www.mercomindia.com/mnre-proposes-lower-module-efficiency-thresholds-for-off-grid-solar-projects" target="_blank" rel="noopener">The Ministry of New and Renewable Energy proposed an amendment to reduce the minimum module efficiency requirement under</a> the Approved List of Models and Manufacturers for modules used in off-grid solar projects. The minimum efficiency for crystalline silicon technology modules used in off-grid solar projects will be reduced to 18% from 19%, per the proposed amendment.</p>
<p><a href="https://www.mercomindia.com/karnatakas-clean-mobility-policy-2025-30-targets-%E2%82%B9500-billion-investment" target="_blank" rel="noopener">The Government of Karnataka introduced its Clean Mobility Policy 2025-30, targeting ₹500 billion (~$5.755 billion) investments across</a> the clean mobility value chain by 2030. The policy targets establishing Karnataka as Asia’s leading hub for clean mobility through equitable and sustainable development, providing electric vehicle (EV) charging infrastructure, and fostering innovation in EV and hydrogen fuel cell technologies. The policy will be effective from February 11, 2025, for five years.</p>
<p><a href="https://www.mercomindia.com/government-mandates-two-hour-energy-storage-integration-in-solar-tenders" target="_blank" rel="noopener">The Ministry of Power (MoP) mandated that all Renewable Energy Implementing Agencies (REIAs) and state utilities to incorporate</a> a minimum two-hour co-located energy storage system equivalent to 10% of the installed solar capacity in all solar tenders. In an advisory to REIAs, state governments, and generating stations, MoP said distribution licensees could also consider mandating two-hour storage with rooftop solar installations.</p>
<p><a href="https://www.mercomindia.com/aptel-condones-70-day-delay-in-commissioning-solar-power-project" target="_blank" rel="noopener">The Appellate Tribunal for Electricity condoned a 70-day delay in commissioning ACME Heergarh Powertech (AHPL’s) 300 MW solar power</a> project in Rajasthan. AHPPL, a special-purpose vehicle of ACME Solar Holdings, was granted a 104-day extension recognizing the COVID-19 pandemic and supply disruption in China as a force majeure event.</p>
<p><a href="https://www.mercomindia.com/cerc-grants-%E2%82%B920-million-compensation-to-solar-developer-for-gst-hike" target="_blank" rel="noopener">The Central Electricity Regulatory Commission (CERC) declared a hike in Goods and Services Tax from 5% to 12% to 18% as a change</a> in law event and allowed Beempow Energy, backed by O2 Power, to seek compensation. Beempow can receive compensation up to ₹20 million (~$229,700), which will be paid at a discount of 9.12% for 15 years. CERC also allowed carrying costs for the period against which Beempow paid the higher GST.</p>
<p><a href="https://www.mercomindia.com/aptel-compensates-solar-project-for-gst-imposition" target="_blank" rel="noopener">The Appellate Tribunal for Electricity dismissed an appeal by the Hubli Electricity Supply Company against an order of the Karnataka Electricity</a> Regulatory Commission in 2021 granting a tariff increase for a solar project to compensate for higher costs due to changes in tax laws. APTEL upheld the Commission’s ruling, allowing an additional incremental tariff of ₹0.39 (~$0.005)/kWh for 22 years over the existing tariff of ₹2.91 (~$0.035)/kWh, ensuring recovery of ₹217.5 million (~$2.62 million) for the solar project.</p>
<p><a href="https://www.mercomindia.com/amazon-to-procure-379-mw-power-from-three-wind-projects-in-india" target="_blank" rel="noopener">Global e-commerce company Amazon will procure a cumulative 379 MW of clean energy from three wind farms in Karnataka, Maharashtra</a>, and Tamil Nadu. The company will procure power from CleanMax’s 100 MW wind project in Koppal, Karnataka, BluPine’s 99 MW wind project at Solapur in Maharashtra, and JSW Energy’s 180 MW wind project at Dharapuram in Tamil Nadu. Amazon signed power purchase agreements with the three companies.</p>
<p><a href="https://www.mercomindia.com/grew-solar-to-set-up-3-gw-cell-and-module-facility-in-madhya-pradesh" target="_blank" rel="noopener">GREW Solar announced it will invest ₹30 billion (~$345 million) to set up a 3 GW solar cell and module manufacturing facility in, Madhya Pradesh</a>. The 60-acre facility will be a three-stage backward-integrated manufacturing unit, using tunnel oxide passivated contact (TOPCon) technology. TOPCon utilizes an N-type silicon base to improve efficiency solar cell efficiency over traditional models. The facility is expected to be operational by 2026.</p>
<p><a href="https://www.mercomindia.com/indus-towers-to-source-50-mw-of-renewable-energy-from-amplus" target="_blank" rel="noopener">Gurugram-based mobile tower installation company Indus Towers will source 50 MW of renewable energy from Amplus Tungabhadra, a special</a> purpose vehicle of Amplus Solar, in captive mode. The company will invest ₹270 million (~$3.1 million) to acquire a 26% stake in Amplus Tungabhadra on a fully diluted basis. Amplus Tungabhadra will set up a 50 MW solar captive power project for Indus Towers.</p>
<p><a href="https://www.mercomindia.com/sunsure-secures-%E2%82%B91-28-billion-loan-for-49-mw-solar-open-access-project" target="_blank" rel="noopener">Gurugram-based Sunsure Energy secured ₹1.28 billion (~$14.69 million) in long-term debt financing from Tata Capital and Aditya Birla Finance</a> (ABFL) for its 49 MW open-access solar project in Augasi, Uttar Pradesh. This financing will support Sunsure’s commissioned 145 MW portfolio of solar open-access projects in the state. Tata Capital and ABFL will share the loan amount equally.</p>
<p><a href="https://www.mercomindia.com/edf-proposes-partnerships-with-ntpc-cil-and-actis-for-renewables" target="_blank" rel="noopener">EDF India signed non-binding term sheets with NTPC, Coal India (CIL), and global investor Actis to promote renewable energy projects in India</a>. Under this partnership, NTPC will develop, construct, own, operate, and maintain pumped storage projects, standalone hydropower, and hydropower projects bundled with other renewable energy power projects.</p>
<p><a href="https://www.mercomindia.com/gensol-engineering-signs-%E2%82%B93-5-billion-deal-to-sell-scorpius-trackers" target="_blank" rel="noopener">Solar energy consultancy and engineering, procurement, and construction solutions provider Gensol Engineering signed a ₹3.5 billion</a> (~$40.1 million) non-binding term sheet to sell its U.S. subsidiary, Scorpius Trackers, to an undisclosed renewable energy solution provider. Gensol aims to unlock the subsidiary’s capital for reinvestment into its core growth assets and strengthen its financial position.</p>
<p><a href="https://www.mercomindia.com/vikram-solar-boosts-module-production-with-1-gw-expansion-in-west-bengal" target="_blank" rel="noopener">Kolkata-based solar module manufacturer Vikram Solar increased the manufacturing capacity of its Falta facility in West Bengal by 1 GW.</a> The manufacturing lines in the facility at Oragadam in Chennai, Tamil Nadu, have also been upgraded to produce Tunnel Oxide Passivated Contact (TOPCon) and Heterojunction Technology (HJT) solar modules. These initiatives are set to boost Vikram Solar’s annual nameplate production capacity to 4.5 GW.</p>


Month in a Minute: Top Headlines from the Indian Renewable Sector in February 2025


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					</table><p><a href="https://grew.one/" target="_blank" rel="noopener">GREW Solar</a> has announced it will invest ₹30 billion (~$345 million) to set up a 3 GW solar cell and module manufacturing facility in, Madhya Pradesh.</p>
<p>The 60-acre facility will be a three-stage backward-integrated manufacturing unit, using tunnel oxide passivated contact (TOPCon) technology. TOPCon utilizes an N-type silicon base to improve efficiency solar cell efficiency over traditional models.</p>
<p>The facility is expected to be operational by 2026.</p>
<p>The company has also started operations at its second unit in Jaipur, Rajasthan, and commenced constructing its phase-3 unit. The Jaipur plant will have a total production capacity of 8 GW after the new phase’s commissioning.</p>
<p>In May 2024, Grew Energy <a href="https://www.mercomindia.com/grew-energy-solar-facility-jammu-kashmir" target="_blank" rel="noopener">announced</a> plans to set up a 3.2 GW solar module manufacturing facility in Kathua, Jammu &amp; Kashmir. It said it was investing ₹45 billion (~$ 538.8 million) to establish the fully integrated three-stage facility on 80 acres of land. Upon completion, the plant will have an annual production capacity of 3.2 GW of solar modules and 2.8 GW of solar ingots, wafers, and cells.</p>
<p>In April 2024, Grew Energy was <a href="https://www.mercomindia.com/swelect-grew-renew-win-secis-auction-supply-400-mw-solar-modules" target="_blank" rel="noopener">declared</a> one of the winners in Solar Energy Corporation of India’s auction to manufacture, test, package, forward, supply, and transport 400 MW of domestically manufactured solar modules. Grew Energy won 200 MW of the tendered 400 MW capacity.</p>
<p>India added 11.3 GW of solar modules and 2 GW of cell manufacturing capacity in the first half of 2024, according to Mercom’s, <a href="https://www.mercomindia.com/product/state-solar-manufacturing-india-1h-2024" target="_blank" rel="noopener">State of Solar PV Manufacturing in India 1H 2024</a> report. The capacity additions were driven by a robust solar project pipeline of 132.7 GW planned between 2024 and 2026 and the reinstatement of the Approved List of Models and Manufacturers order in April 2024. As of June 2024, India’s cumulative solar module manufacturing capacity reached 77.2 GW, while solar cell capacity totaled 7.6 GW.</p>


GREW Solar to Set Up 3 GW Cell and Module Facility in Madhya Pradesh

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