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					</table><p>The Jodhpur Vidyut Vitran Nigam (<a href="https://energy.rajasthan.gov.in/jdvvnl/#/home/dptHome" target="_blank" rel="noopener">JDVVNL</a>) has floated a tender for developing 31.96 MW grid-connected solar power projects under Component ‘C’ of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyaan (PM-KUSUM) program for feeder solarization.</p>
<p>The project will be developed using the Renewable Energy Service Company (RESCO) model and located across CSD-II Pali, CSD-III Pali, Rohat, and Rural Pali subdivisions of the Pali Division under the Pali Circle.</p>
<p>The last date for the submission of bids is October 9, 2023. Bids will be opened on September 11.</p>
<p>The developer must construct the associated 33/11 kV line to connect the projects with the various substations and provide a remote monitoring system and operation and maintenance of the projects for 25 years.</p>
<p>The project’s estimated cost is ₹35 million (~$425,648)/MW.</p>
<p>Bidders must furnish an earnest money deposit of ₹100,000 (~$1,216)/MW of the quoted capacity.</p>
<p>The successful bidders must submit a performance bank guarantee (PBG) of ₹500,000 (~$6,080)/MW of the allotted capacity.</p>
<p>A power purchase agreement for 25 years, at the levelized tariff approved by the Rajasthan Electricity Regulatory Commission (<a href="https://rerc.rajasthan.gov.in/" target="_blank" rel="noopener">RERC</a>), is to be executed between the selected bidder and Rajasthan Urja Vikas Nigam (<a href="https://energy.rajasthan.gov.in/content/raj/energy-department/rajasthan-urja-vikas-nigam-ltd-/en/home.html" target="_blank" rel="noopener">RUVNL</a>) within seven days of submission of PBG.</p>
<p>The initiative aims to facilitate the installation of solar photovoltaic systems, utilizing either crystalline silicon, thin film, or concentrated photovoltaics (CPV), with or without tracking mechanisms.</p>
<p>Only well-established and currently functioning technologies will be considered to reduce technological uncertainties and ensure the project&#8217;s prompt completion.</p>
<p>The developer must ensure a minimum capacity utilization factor of 19%.</p>
<p>The selected bidder will receive financial support as per MNRE guidelines through DISCOM, based on the solar project&#8217;s performance for two months post-commissioning.</p>
<p>Bidding can be done by sole bidders or a joint venture of two companies.</p>
<p>For landowners, farmers, and any individual with/without required land for the project, an undertaking certifying ownership of movable and immovable assets worth at least 20% of the total cost of the quoted capacity by the bidder must be submitted.</p>
<p>Individuals or firms should have a minimum annual average turnover of at least 30% of the total cost of quoted capacity in the last three financial years.</p>
<p>Earlier, JVVNL had <a href="https://www.mercomindia.com/rajasthan-invites-mw-solar-projects-under-pm-kusum" target="_blank" rel="noopener">floated</a> a tender for developing 113.2 MW grid-connected solar projects through the RESCO model under Component C of the PM-KUSUM program for feeder solarization.</p>
<p>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 tender activity in real-time.</p>


Rajasthan DISCOM Invites Bids for 31.96 MW Solar Projects Under KUSUM


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					</table><p><a href="https://www.mercomindia.com/corporate-funding-for-solar-billion-in-first-half-of-2023" target="_blank" rel="noopener"><strong>The total global corporate funding in the solar sector during the first half (1H) of 2023, including venture capital investments, public market funding, and debt financing, reached $18.5 billion</strong></a>, a 54% year-over-year (YoY) increase from $12 billion. The numbers were revealed in Mercom Capital Group’s newly released <a href="https://mercomcapital.com/product/1h-q2-2023-solar-funding-ma-report/">1H and Q2 2023 Solar Funding and M&amp;A Report.</a> Despite the surge in funding amounts, there was a 12% YoY decline in the number of deals executed. During 1H 2023, 80 deals took place in contrast to the 91 deals recorded during the corresponding period in 2022.</p>
<p><a href="https://www.mercomindia.com/rajasthan-bids-295-mw-solar-projects-kusum" target="_blank" rel="noopener"><strong>The Jodhpur Vidyut Vitran Nigam floated three tenders for installing and commissioning 108 grid-connected solar power projects with a total capacity of 295.32 MW</strong></a> in various subdivisions of Hanumangarh Circle under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan program for feeder level solarization. The estimated project cost is ₹35 million (~$426,125)/MW.</p>
<p><a href="https://www.mercomindia.com/railways-4-mw-rooftop-solar-maharashtra" target="_blank" rel="noopener"><strong>Central Railways has invited bids for state-wise empanelment of agencies to implement grid-connected rooftop solar power projects of 4.105 MW capacity at various locations</strong></a> in Mumbai, Bhusawal, Nagpur, and Pune Divisions through public-private partnership and on a design, build, finance, operate, and transfer basis. The last day to submit the bids is August 28, 2023. The bids will be opened on the same day.</p>
<p><a href="https://www.mercomindia.com/universal-transformers-22-5-mw-floating-solar-west-bengal" target="_blank" rel="noopener"><strong>Indore-based Universal Transformers, a provider of electrical and automation solutions, has bagged the engineering, procurement, and construction contract in the West Bengal Power Development Corporation’s auction</strong></a> to set up 22.5 MW of grid-connected floating solar projects at the Bakreswar, Santhaldih, and Sagardidhi thermal power plants. Of the total capacity, a 10 MW floating solar project will be developed at Bakreswar thermal power plant, while 7.5 MW and 5 MW will be developed at Santhaldih and Sagardidhi thermal plants, respectively.</p>
<p><a href="https://www.mercomindia.com/cerc-grants-solar-developers-gst" target="_blank" rel="noopener"><strong>The Central Electricity Regulatory Commission has ruled that developers are entitled to compensation in lieu of higher expenses incurred for 100 MW solar power projects</strong></a> in Uttar Pradesh and Karnataka after the Goods and Services Tax (GST) came into force. The compensation would qualify under the ‘Change in Law’ event and will be applicable even if GST was promulgated after the project’s commercial operation date.</p>
<p><strong><a href="https://www.mercomindia.com/madhya-pradesh-verify-captive-power-project-compliance" target="_blank" rel="noopener">The Madhya Pradesh Electricity Regulatory Commission has issued a detailed procedure to verify captive generating projects and user compliance per the Electricity Rules, 2005 provisions.</a></strong> The procedure will be applicable for the financial year 2023-24. The Madhya Pradesh Power Transmission Company will be the designated authority to determine the captive status of the captive generating projects and captive users.</p>
<p><a href="https://www.mercomindia.com/jsw-energys-net-profit-segment-headwinds" target="_blank" rel="noopener"><strong>JSW Energy, an independent power producer, reported a net profit of ₹2.9 billion (~$35.3 million), a decrease of 48% (YoY) in the first quarter of the financial year 2023-24,</strong></a> due to the lower realization in the thermal segment following a decline in coal prices. The company’s total revenue declined by 3% YoY or ₹30.13 billion ($367 million). The earnings before interest, taxes, and depreciation showed a notable 18% YoY increase, reaching ₹13.07 billion ($159.2 million) in the quarter, primarily driven by contributions from renewable energy assets.</p>
<p><a href="https://www.mercomindia.com/innergex-secures-534-million-329-8-mw-wind-project" target="_blank" rel="noopener"><strong>Innergex Renewable Energy, an independent renewable power producer and project developer, has closed a $534 million construction financing package,</strong></a> marking a significant move in developing the Boswell Springs Wind Project in the U.S. The financing includes a $203 million ten-year non-recourse term loan with BNP Paribas, Credit-Agricole CIB, Export Development Canada, and MUFG Bank, acting as Joint Lead Arrangers. The funds will be utilized for constructing and operating the 329.8 MW wind project in Wyoming, United States.</p>


Daily News Wrap-Up: Corporate Funding for Solar Rises 54% YoY in 1H 2023

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