Madhya Pradesh Invites Bids for 100 MW Solar Project

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					</table><p>Virtual power purchase agreements (VPPAs), a financial tool for energy-intensive industries seeking to meet their renewable energy obligations, have not <a href="https://www.mercomindia.com/vppas-in-india-not-gained-momentum-cerc-guidelines" target="_blank" rel="noopener">gained</a> momentum in India despite their seemingly promising nature. The Central Electricity Regulatory Commission (CERC) recently released draft guidelines to enable designated consumers to meet their renewable commitments. Under these guidelines, a VPPA or a designated consumer may enter into long-term bilateral virtual agreements with a renewable energy generator at an agreed-upon price.</p>
<p>The CERC <a href="https://www.mercomindia.com/no-ists-charges-waiver-solar-wind-june-2028" target="_blank" rel="noopener">issued</a> a time frame for waiving interstate transmission (ISTS) charges for renewable energy, energy storage projects, green hydrogen, and green ammonia. Renewable energy generation stations based on wind, solar, or hybrid sources are eligible for waivers based on their commissioning date. Projects commissioned on or before June 30, 2025, will receive a full waiver for 25 years. Projects commissioned in successive years up to June 30, 2028, will receive progressively lower waivers, reducing from 75% to 25%. Projects commissioned after June 30, 2028, are not eligible for a waiver.</p>
<p>India <a href="https://www.mercomindia.com/no-ists-charges-waiver-solar-wind-june-2028" target="_blank" rel="noopener">added</a> 1.1 GW of solar open access capacity in the first quarter (Q1) of 2025, down nearly 48% from 2.1 GW in Q4 2024. Installations were down 47% year-over-year from over 2 GW, according to the Q1 2025 Mercom India Solar Open Access Market report. Domestic solar modules were scarce due to the rush to commission before the end of the financial year. The quarter saw a slowdown in the commissioning of solar open access projects due to a shortage of transmission infrastructure, delays in the clearance procedure for connectivity, and uncertainty regarding the ISTS waiver.</p>
<p>The Ministry of Heavy Industries <a href="https://www.mercomindia.com/no-ists-charges-waiver-solar-wind-june-2028" target="_blank" rel="noopener">launched</a> the application portal for the ‘Scheme to Promote Manufacturing of Electric Passenger Cars in India,’ inviting global and domestic manufacturers to establish electric vehicle (EV) production facilities in the country. The application portal will remain active until October 21, 2025. The program aims to attract major global EV manufacturers by offering a reduced customs duty structure and a policy framework that encourages long-term investments in India’s automotive sector.</p>
<p>The Gujarat Electricity Regulatory Commission <a href="https://www.mercomindia.com/no-ists-charges-waiver-solar-wind-june-2028" target="_blank" rel="noopener">approved</a> a tariff of ₹3.70 (~$0.043)/kWh for the procurement of 9.9 MW of wind-solar hybrid renewable energy by a power distribution licensee in the GIFT City in Gujarat. The petitioner, GIFT Power Company (GIFT PCL), had initiated power procurement through open access as a distribution licensee in May 2019. GIFT PCL has relied on a mix of short- and medium-term PPAs, the day-ahead market, and real-time market power purchases. However, with demand expected to increase from a base of 5 MW in the financial year (FY) 2025 to 20 MW by FY 2030, and peak load potentially reaching 40 MW, the company is shifting to long-term renewable sourcing to fulfill its universal service obligation and meet renewable purchase obligations.</p>
<p>The Ministry of Power <a href="https://www.mercomindia.com/no-ists-charges-waiver-solar-wind-june-2028" target="_blank" rel="noopener">proposed</a> amendments to the guidelines for the tariff-based competitive bidding process to procure power from grid-connected power projects. These revisions apply to solar, wind, wind-solar hybrid, and firm and dispatchable power from renewable energy projects with energy storage systems. According to the proposed amendments, all projects will have a fixed timeline for regulatory approvals. The amendments would require that when power procurement involves an intermediary agency and the end buyer is a distribution licensee, the latter must obtain regulatory approval for the power sale agreement within 30 days of signing it. Such requirements apply to cases where prior approval was not obtained.</p>
<p>Integrated solar cell and module manufacturing company Premier Energies <a href="https://www.mercomindia.com/no-ists-charges-waiver-solar-wind-june-2028" target="_blank" rel="noopener">commissioned</a> a new 1.2 GW tunnel oxide passivated contact (TOPCon) solar cell manufacturing line in Hyderabad, Telangana. TOCon technology involves an ultra-thin tunnel oxide layer (usually silicon dioxide) grown on the solar cell’s silicon wafer surface, which is then overlaid with a highly treated silicon layer. This technology helps electrons move faster compared to conventional cells. Premier Energies said the new TOPCon line has increased the company’s solar cell production capacity from 2 GW to 3.2 GW.</p>
<p>Solar module manufacturer Rayzon Solar <a href="https://www.mercomindia.com/rayzon-solar-files-for-%E2%82%B915-billion-ipo-to-use-funds-for-cell-manufacturing" target="_blank" rel="noopener">filed</a> a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India to raise ₹15 billion (~$175 million) through an initial public offering of shares. The company will utilize up to ₹12.65 billion (~$147.5 million) of the net proceeds to invest in its wholly owned subsidiary, Rayzon Energy, and partly finance the development of a 3.5 GW TOPCon solar cell manufacturing plant in Surat, Gujarat. The DRHP said Axis Bank has approved a loan of ₹3 billion (~$34.98 million) for the cell facility.</p>
<p>The Madhya Pradesh Power Management Company <a href="https://www.mercomindia.com/rayzon-solar-files-for-%E2%82%B915-billion-ipo-to-use-funds-for-cell-manufacturing" target="_blank" rel="noopener">invited</a> bids to procure 800 MW of wind power from projects set up anywhere in India, with an additional capacity of up to 800 MW under the greenshoe option for 25 years. Bids must be submitted by July 23, 2025. Bids will be opened on July 25.  The scope of work also entails the identification of land, project installation, and ownership. Additionally, it involves obtaining connectivity and approvals, as well as interconnection with the ISTS or intrastate transmission system networks to supply power.</p>
<p>Gujarat-based Onix Renewable <a href="https://www.mercomindia.com/rayzon-solar-files-for-%E2%82%B915-billion-ipo-to-use-funds-for-cell-manufacturing" target="_blank" rel="noopener">offered</a> ₹264 (~$3) per share to acquire 1.6 million equity shares of Onix Solar Energy for approximately ₹429 million (~$5 million). Onix Solar Energy is a subsidiary of Onix Renewable. The offer represents 6.44% of Onix Solar Energy’s issued and outstanding voting share capital. Grow House Wealth Management is acting as the manager for this open offer. This open offer followed Onix Solar Energy’s board of directors authorizing a preferential allotment of 18.5 million fully paid-up equity shares, each with a face value of ₹10 (~$0.12), on a preferential basis. These shares represent 73.2% of Onix Renewable&#8217;s emerging voting share capital.</p>


Daily News Wrap-Up: Virtual PPA Framework in India Needs Regulatory Backing


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					</table><p>The Ministry of Power <a href="https://www.mercomindia.com/government-54-billion-vgf-battery-storage" target="_blank" rel="noopener">announced</a> the second tranche of viability gap funding (VGF) to support battery energy storage systems (BESS) development in India. Under this tranche, a VGF of ₹1.8 million (~$21,043)/MWh will be provided to support the development of 30 GWh of BESS capacity. The funding will be sourced from the Power System Development Fund (PSDF), with a total financial outlay of ₹54 billion (~$631.30 million). Of the proposed 30 GWh, 25 GWh of storage capacity has been allocated across 15 states to help them address their energy storage requirements. NTPC will develop the remaining 5 GWh. This allocation is intended to maximize the utilization of NTPC’s existing thermal generation and transmission infrastructure while ensuring a reliable and cost-effective electricity supply during non-solar hours.</p>
<p>The Ministry of Power <a href="https://www.mercomindia.com/power-ministry-announces-100-ists-charges-waiver-for-psps-co-located-bess" target="_blank" rel="noopener">granted</a> a 100% interstate transmission system (ISTS) waiver for pumped storage projects for which construction works were awarded on or before June 30, 2028. A 100% waiver has also been granted to co-located BESS that will be commissioned on or before June 30, 2028. This waiver will be granted if the power from such BESS projects is consumed outside the state where these systems are commissioned. A BESS project will be considered as co-located if the BESS and renewable project are situated at the same ISTS substation. For non-co-located BESS projects, the ISTS charges waiver will be per the extant orders issued by the Ministry of Power and the Central Electricity Regulatory Commission regulations.</p>
<p>With a rapid increase in energy storage systems (ESS) deployments in India, Maharashtra-based ESS provider AmpereHour Energy is <a href="https://www.mercomindia.com/energy-storage-enables-greater-renewable-integration-with-reliability-interview" target="_blank" rel="noopener">taking</a> it one step further by deploying intelligent ESS. This technology enables the systems to respond dynamically to grid conditions, predict demand patterns, and deliver multiple services, including frequency regulation. Speaking with Mercom India, Ayush Misra, CEO at AmpereHour Energy, highlighted the emergence of intelligent ESS, its growing adoption trend in the country, and the obstacles to its large-scale deployment.</p>
<p>The Central Pollution Control Board (CPCB) <a href="https://www.mercomindia.com/cpcb-issues-draft-guidelines-for-solar-waste-collection-and-storage" target="_blank" rel="noopener">issued</a> draft guidelines for the collection and storage of waste from solar modules and cells. Stakeholders can submit comments and suggestions to CPCB by June 25, 2025. Solar waste refers to end-of-life solar modules or cells that are discarded whole or in part as waste. It includes rejects and waste generated during manufacturing, refurbishment, and repair processes.  It also covers solar modules that were damaged during transportation, handling, storage, and installation. Under the E-Waste (Management) Rules, 2022, solar waste is categorized as electrical and electronic equipment waste. The rules place the onus of managing solar waste on the manufacturers of solar components. Manufacturers must store solar waste up to the end of the financial year 2035.</p>
<p>The Maharashtra Electricity Regulatory Commission <a href="https://www.mercomindia.com/maharashtra-regulator-rejects-plea-to-scrap-rooftop-solar-grid-support-charges" target="_blank" rel="noopener">rejected</a> a petition filed by a renewable energy consultant seeking the abolition of grid support charges imposed on rooftop solar systems with capacities above 10 kW and below 1 MW. The Commission ruled that grid support charges are a valid regulatory tool implemented through due legal and consultative processes and cannot be scrapped based on the contentions raised in the petition. It emphasized that the existing charges are not discriminatory and serve a critical function in enabling the distribution license to recover legitimate costs related to grid infrastructure and service provisioning.</p>
<p>Punjab Energy Development Agency <a href="https://www.mercomindia.com/punjab-invites-bids-for-solarization-of-200-irrigation-pumps-under-kusum" target="_blank" rel="noopener">issued</a> a request for selection for the solarization of 200 irrigation pumps under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Uthan Mahabhiyaan (PM-KUSUM) in various divisions in Punjab. Bids must be submitted by June 25, 2025. Bids open on the same day.  Bidders must design, survey, supply, install, test, and commission 200 individual irrigation pumps to be solarized with net metering. All the existing AC pumps must be replaced with a minimum three-star energy-efficient pump.</p>
<p>HPCL Renewable and Green Energy (HPRGE) <a href="https://www.mercomindia.com/hpcl-tenders-monitoring-and-analytics-system-for-3-3-gw-renewable-projects" target="_blank" rel="noopener">issued</a> a tender to set up a central monitoring and analytics system for four renewable energy projects with a cumulative capacity of 3.3 GW across various states. Bids must be submitted by June 20, 2025. Bids will be opened on the same day. The four renewable energy projects are 629 MW of ground-mounted solar installations, 2,665.5 MW of rooftop solar systems, a 46 MW wind project, and a 1 MW solar project in the LNG Terminal Chhara, Gujarat. The scope of work involves deriving insights from data collected from HPRGE’s renewable energy projects. It also includes providing a centralized asset performance monitoring software solution that can integrate with HPRGE’s solar and wind farms.</p>
<p>New Delhi-based sustainability and clean mobility startup Vecmocon <a href="https://www.mercomindia.com/clean-mobility-startup-vecmocon-raises-18-million-in-series-a-funding" target="_blank" rel="noopener">raised</a> $18 million (~₹1.54 billion) in a Series A funding round from Ecosystem Integrity Fund, Aavishkaar Capital, and the U.K.’s development finance institution, British International Investment. The investment round also saw participation from existing investor, Blume Ventures. This funding will be used to support the company’s plans to expand market presence and enable its solutions to power over 100,000 vehicles on Indian roads.  It will also utilize the funding to advance capabilities in embedded design, power electronics, the Internet of Things, and data science. A portion of the funding supports team expansion and the establishment of research and development infrastructure for the electric vehicle sector.</p>


Daily News Wrap-Up: MoP Announces ₹54 Billion BESS VGF Tranche Two

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