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$1.2 Trillion Needed for Battery Storage to Support Renewables by 2034: Report

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					</table>In its fifth edition, the <a href="https://www.mercomindia.com/event/renewables-summit-2025" target="_blank" rel="noopener">Mercom India Renewables Summit</a> will feature a dedicated renewable energy exhibition for the first time, showcasing the most advanced solutions and services in the clean energy sector.
The exhibition will be held on July 24 and 25, 2025, at the Regency Ballroom in the Hyatt Regency, New Delhi, in conjunction with the main sessions of the Summit.
The two-day exhibition provides a unique opportunity for attendees to engage directly with over fifty leading renewable energy companies shaping India’s energy transition.
The Expo is designed to foster meaningful interactions among top manufacturers, service providers, technology innovators, and key players from across the clean energy value chain.
Exhibitors will have the opportunity to showcase their latest technologies and offerings in an environment that fosters strategic conversations and targeted engagement. Whether launching new products, demonstrating capabilities, or discussing procurement options, participating companies will benefit from increased visibility and qualified leads. The Expo provides an opportunity to gain practical insights, understand market trends, and assess the competitive landscape.
Visitors can expect to meet suppliers face-to-face, learn about emerging technologies, and identify new partners for potential collaboration. For installers, project developers, and engineering, procurement, and construction companies, the Expo offers a direct route to assess what is available in the market and explore how these solutions align with their long-term strategies. It is a space where discussions can lead to partnerships and purchasing decisions.
Entry to the Expo is free. Visitors who register in advance for the Summit will enjoy seamless access to both the exhibition and conference areas, eliminating the need to wait in queues. Attendees can expect to leave with new connections, actionable knowledge, and a deeper understanding of the technologies and trends driving the industry forward.
Those interested in visiting only the exhibition can complete a separate registration <a href="https://www.mercomindia.com/event/renewables-summit-2025/visitor-registration" target="_blank" rel="noopener">here</a>. Others who wish to attend the full Mercom India Renewables Summit 2025 can register <a href="https://www.mercomindia.com/event/renewables-summit-2025/register" target="_blank" rel="noopener">here</a> and contribute to shaping the future of India’s growing renewable energy landscape.

Mercom’s Renewable Energy Expo to Showcase Latest Solutions and Services

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					</table>Mercom India’s fifth edition of its flagship event, the <a href="https://www.mercomindia.com/event/renewables-summit-2025" target="_blank" rel="noopener">Mercom India Renewables Summit</a>, will be held on July 24 and 25, 2025, at the Hyatt Regency in New Delhi.
Recognized as a cornerstone of India’s renewable energy calendar, the Summit brings together industry leaders, policymakers, investors, and innovators to exchange insights and drive progress toward a sustainable energy future. Over the past four years, the event has established itself as an influential forum to discuss ways to turn policy goals into practical outcomes.
The event comes at a critical moment when India is working toward ambitious national clean energy targets. These include achieving 50% energy from renewables by 2030, installing 500 GW of non-fossil energy capacity, including 450 GW from renewable sources, reducing the carbon intensity of the economy by 45%, cutting projected carbon emissions by one billion tons, and reaching net-zero emissions by 2070.
The Summit will serve as a platform to assess progress on these goals and shape future policy and investment decisions.
The two-day event will feature high-level panel discussions on the implications of recent and upcoming policy shifts, spanning key technologies such as solar, wind, energy storage, and green hydrogen.
Discussions will explore the regulatory landscape, technological innovations, supply chain hurdles, infrastructure development, and the investments necessary to support India’s evolving renewable energy ecosystem.
The event is built around Mercom India’s proprietary research and market intelligence. All sessions are shaped by exclusive data and insights that cover every major renewable energy segment.
Attendees will have the opportunity to hear directly from senior executives, government officials, and investors who are shaping India’s energy landscape. They will be able to exchange ideas, gain insights into the latest technologies and financing strategies, and connect with decision-makers who are driving real-world outcomes.
The Summit will also offer opportunities for industry leaders and participants to network. The 2025 Summit will also host three side events: the fifth Mercom India Awards, the third edition of the Cleantech Startup Pitch Competition, and the inaugural Renewable Energy Exhibition.
The <a href="https://www.mercomindia.com/awards/mercom-india-awards-2025" target="_blank" rel="noopener">Mercom India Awards</a>, recognized as one of the solar industry’s most prestigious accolades, will honor outstanding achievements and spotlight the sector’s transformation.
The <a href="https://www.mercomindia.com/event/startup" target="_blank" rel="noopener">Cleantech Startup Pitch Competition</a> will showcase innovative startups, allowing them to present their novel technologies and solutions to potential investors, fostering further innovation and growth.
The <a href="https://www.mercomindia.com/event/renewables-summit-2025/exhibitor" target="_blank" rel="noopener">Expo</a> will feature 50+ leading renewable energy companies showcasing a range of cutting-edge solutions and services, providing a valuable platform for networking and lead generation.
<a href="https://www.mercomindia.com/event/renewables-summit-2025/register" target="_blank" rel="noopener">Register now</a> to attend the event and contribute to shaping the future of India’s vibrant renewable energy landscape.

Mercom Renewables Summit Returns for its Fifth Edition in July 2025

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					</table>Here is a recap of important headlines from April 2023:
Tata Power, Fourth Partner Energy, Amp Energy India, Gujarat Power Corporation, Oorja Development Solutions India, CleanMax Enviro, NTPC, RenewSys, Serentica Renewables, SJVN, and Hero Future Energies were <a href="https://www.mercomindia.com/mercom-winners-2023-renewable-industry-awards" target="_blank" rel="noopener">recognized</a> as winners in various categories at <a href="https://www.mercomindia.com/event/renewables-summit-2023" target="_blank" rel="noopener">Mercom India Renewables Summit</a> to honor companies for their contributions in advancing India&#8217;s environmental goals through innovative projects and business deals.
The Ministry of New &amp; Renewable Energy <a href="https://www.mercomindia.com/government-bid-solar-wind-fy24" target="_blank" rel="noopener">issued</a> an agency-wise bidding calendar for 50 GW of renewable energy projects for the current financial year. The calendar entails a schedule of 30 GW of renewable capacity for the first two quarters and 20 GW in the last two quarters. SECI and NTPC will issue tenders for 12.5 GW of Solar/Hybrid/Round-the-Clock (RTC) projects and 2.5 MW of wind projects each. NHPC and SJVN will issue tenders for 7.5 GW of Solar/Hybrid/RTC projects and 2.5 MW of wind projects each.
The Ministry of New and Renewable Energy (MNRE) <a href="https://www.mercomindia.com/sjvn-float-renewable-energy-tenders" target="_blank" rel="noopener">designated</a> SJVN as the implementing agency responsible for floating tenders for renewable energy projects. It will also act as the intermediary procurer of power. SJVN will work with other agencies, such as SECI, NTPC, and NHPC, to float tenders and open bids to avoid concurrent bids. SJVN will also ensure that tenders will be floated according to standard bidding guidelines issued by the government and MNRE’s instructions for renewable energy tenders.
Wind capacity installations in India <a href="https://www.mercomindia.com/mandatory-wind-growth-of-168-in-q1-2023" target="_blank" rel="noopener">rose</a> 168% year-over-year to 737.9 MW in the first quarter of the calendar year 2023. Installations grew 222% quarter-over-quarter from 229.2 MW in Q4 2022. The surge in installations is primarily due to the introduction of the Renewable Purchase Obligation and Energy Storage Obligation trajectory until 2029-2030
Total corporate funding for solar companies, including from venture capital, public market, and debt financing, <a href="https://www.mercomindia.com/corporate-funding-solar-q1-2023" target="_blank" rel="noopener">amounted</a> to $8.4 billion in 42 deals in the first quarter of 2023, up 11% year-over-year compared to $7.5 billion raised in 49 deals, according to Mercom’s <a href="https://mercomcapital.com/product/q1-2023-solar-funding-ma-report/">Q1 2023 Solar Funding and M&amp;A Report</a>. Funding increased 55% quarter-over-quarter compared to $5.4 billion raised in 44 deals.
Total corporate funding in energy storage, including from venture capital, public market, and debt financing, <a href="https://www.mercomindia.com/corporate-funding-energy-storage-q1-2023" target="_blank" rel="noopener">amounted</a> to $2.2 billion in 27 deals in the first quarter of 2023, a drop of 83% year-over-year compared to $12.9 billion raised in 27 deals, according to Mercom’s <a href="https://mercomcapital.com/product/q1-2023-funding-ma-report-storage-grid" target="_blank" rel="noopener">Q1 2023 Energy Storage &amp; Smart Grid Funding and M&amp;A Report</a>. On a quarter-over-quarter basis, funding significantly decreased by 49% compared to $4.3 billion raised in 31 deals.
Solar tenders floated by various agencies in India <a href="https://www.mercomindia.com/solar-tenders-auctions-q1-2023" target="_blank" rel="noopener">rose</a> 43% quarter-over-quarter to 13.8 GW in the first quarter of 2023, according to Mercom India Research. The preceding quarter saw tenders worth 9.7 GW. Tender announcements were up 172% year-over-year compared to 5.1 GW. However, the quarter witnessed a 50% QoQ dip in solar auctions, with only 820 MW. The capacity auctioned dropped 69% over the same period last year.
SAEL, an India-based waste-to-energy producer, <a href="https://www.mercomindia.com/sael-raises-%e2%82%b913-3-portfolio-via-bond-issue" target="_blank" rel="noopener">raised</a> ₹13.25 Billion (~$161 million) via the sale of rupee bonds, which will mature in 2033. India Infradebt, Aseem Infrastructure Finance, TATA Cleantech Capital, and Kotak Infrastructure Debt Fund subscribed to the bonds. SAEL’s green energy initiatives will benefit from the proceeds of the long-term, secured, unlisted, rated, redeemable, non-convertible debt securities.
The Central government’s annual appraisal of power distribution companies’ (DISCOMs) financial and operational performance <a href="https://www.mercomindia.com/power-distribution-rating-annual-report" target="_blank" rel="noopener">saw</a> 21 entities improve their rating over the last year. Only one company — Indian Power Corporation – was downgraded. Some of the top DISOCMS were Adani Electricity Mumbai, Dakshin Gujarat Vij Company, Madhya Gujarat Vij Company, and DNH Power Distribution Corporation, among others.
Electric vehicle (EV) sales in India <a href="https://www.mercomindia.com/electric-vehicle-sales-q1-2023" target="_blank" rel="noopener">reached</a> 349,676 units in the first quarter of 2022, a year-over-year increase of 81% compared to 192,565 units sold in the same period last year. Sales increased by 2% compared to 343,485 units sold in the previous quarter. EVs accounted for 6% of overall automobile sales. Out of the total EVs sold, nearly 62% (216,482) were electric two-wheelers. India has over 2 million registered EVs as of March 2023.
Government-owned infrastructure finance company REC <a href="https://www.mercomindia.com/rec-issues-750-green-energy-infrastructure-projects" target="_blank" rel="noopener">issued</a> green bonds worth $750 million under its $7 billion Global Medium Term Note Program. The bonds carry an interest of 5.625% and will mature on April 11, 2028. The principal and interest payments will be made in U.S. dollars. The green bonds will be listed on the Global Securities Market of India International Exchange (India INX) and NSE IFSC.
Power Finance Corporation <a href="https://www.mercomindia.com/pfc-loans-%e2%82%b96-33-billion-gensol-expand-ev-deployment" target="_blank" rel="noopener">approved</a> a loan of ₹6.33 billion (~$77 million) to Gensol Engineering for the purchase of 5,000 passenger electric vehicles and 1,000 cargo EVs to expand its green mobility footprint. The four-wheeler passenger EVs will be leased to electric ride-hailing platform BluSmart Mobility to expand its fleet of cabs.
IndiGrid announced that the International Finance Corporation <a href="https://www.mercomindia.com/indigrid-%e2%82%b911-4-billion-ifc-through-debenture-issue" target="_blank" rel="noopener">invested</a> ₹11.4 billion (~$138.74 million) in its listed non-convertible debentures (NCD). These NCDs have a total duration of 18 years and were issued at a competitive fixed rate for the long term. IndiGrid intends to use this debt to fund its refinancing needs for the fiscal year 2024.
MinionLabs, an energy efficiency and IOT (internet of things) company, <a href="https://www.mercomindia.com/minionlabs-wins-mercom-indias-startup-pitch-competition" target="_blank" rel="noopener">emerged</a> as the winner of Mercom’s First Startup Pitch Competition for Cleantech Companies, held during the Mercom India Renewables Summit
Avaada Group <a href="https://www.mercomindia.com/avaada-raises-1-billion-from-brookfield-for-green-hydrogen-foray" target="_blank" rel="noopener">raised</a> $1.07 billion from Brookfield Renewable to support its green hydrogen and green ammonia projects in India. The funding is part of the company’s ongoing plan to raise $1.3 billion. The funding will be made from the Brookfield Global Transition Fund. To support its growth and release debt obligations, Avaada will receive an additional investment of $68 million from Global Power Synergy Public Company Limited.
ReNew Energy <a href="https://www.mercomindia.com/renew-energy-400-million-via-green-bonds" target="_blank" rel="noopener">raised</a> $400 million through its fully owned subsidiary Diamond II from senior secured green bonds. The green bonds issued by ReNew’s subsidiary attracted significant investor interest from the United States, Europe, and Asia. This marked the first high-yield issuance out of India in over a year. The funds raised from the issuance will be used to refinance existing dollar-denominated debt and finance ReNew’s growth initiatives.

Month in a Minute: Top Headlines from Indian Renewable Sector in April 2023

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