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Battery Manufacturer Offgrid Raises $15 Million in Series A Round

REC Invites Bids for 400/132 kV Substation Project in Maharashtra

AMPIN Commissions 50 MW Open Access Solar Project in Chhattisgarh

Jharkhand Issues Draft Regulations for Electricity Tariffs

Saatvik Bags Contract to Install 1,500 Solar Water Pumps in Maharashtra

GH2 to Set Up 105 MW Electrolyzer Manufacturing Facility in Madhya Pradesh

Websol Announces ₹30 Billion Expansion to Scale Solar Manufacturing

Daily News Wrap-Up: USITC Approves Probe into Solar Imports from India

MERC Approves Additional 500 MW Pumped Hydro Storage Procurement


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					</table><p><a href="https://www.ngel.in/ngel-home" target="_blank" rel="noopener">NTPC Green Energy</a> has issued an engineering, procurement, and construction (EPC) expression of interest (EoI) to set up 5 MW ground-mounted solar projects with a 4 MW/12 MWh battery energy storage system (BESS) and a floating solar project of up to 20 MW in the Great Nicobar Island (GNI).</p>
<p>Bids must be submitted by September 8, 2025. Bids will be opened on September 12.</p>
<p>Bidders must provide techno-commercial proposals covering technology options, storage solutions, cost optimization, logistics, and experience in similar renewable energy and storage projects.</p>
<p>The scope of work includes studying GNI’s energy requirements and existing transmission systems, preparing a detailed project report, and developing technical specifications. It also entails EPC for both floating and ground-mounted solar systems with BESS, arranging transmission to existing substations, and obtaining statutory clearances.</p>
<p>Bidders must have worked on solar and BESS projects, including floating solar installations, either completed or under execution, preferably for central or state governments or public sector undertakings</p>
<p>Bid evaluation will include a responsiveness check, with grounds for rejection including incomplete formats, missing information, unsigned documents, inconsistent data, multiple submissions from the same entity, inadequate validity periods, conditional responses, late submissions, or conflicts of interest.</p>
<p>Recently, NTPC Green Energy <a href="https://www.mercomindia.com/ntpc-green-invites-bids-to-select-qca-for-296-mw-solar-project" target="_blank" rel="noopener">invited</a> bids to deploy a qualified coordinating agency for forecasting, scheduling, and aggregation services at a 296 MW solar power project in Fategarh, Uttar Pradesh.</p>
<p>In July this year, NTPC Green Energy <a href="https://www.mercomindia.com/ntpc-green-floats-om-tender-for-250-mw-solar-project-in-rajasthan" target="_blank" rel="noopener">invited</a> bids for the comprehensive operation and maintenance of its 250 MW Shimbhu ki Bhurj-I solar project for two months in Rajasthan.</p>
<p>In May, NTPC Green Energy <a href="https://www.mercomindia.com/ntpc-green-tender-acquire-solar-projects" target="_blank" rel="noopener">invited</a> expressions of interest from renewable energy companies having power purchase agreements with intermediary procurers to acquire solar projects with a minimum cumulative capacity of 50 MW.</p>
<p>In April, NTPC Green Energy <a href="https://www.mercomindia.com/ntpc-green-land-and-transmission-900-mw-solar-projects" target="_blank" rel="noopener">invited</a> bids for land and an extra-high-voltage transmission system package to develop up to 900 MW interstate transmission system-connected solar projects in Bhuj, Gujarat.</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> for timely updates on all solar tenders issued by various agencies in India.</p>


NTPC Green Energy Issues EPC Tender for Solar and BESS Projects in Nicobar Island


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					</table><p>In a major push for clean energy, the government has allowed two central public sector enterprises to invest up to ₹270 billion (~$3.14 billion) in their renewable energy subsidiaries.</p>
<p>The decision by the Cabinet Committee on Economic Affairs (CCEA) is expected to facilitate the acceleration of India’s renewable energy project development and ensure investments in reliable, round-the-clock electricity across the country.</p>
<p>The CCEA authorized <a href="https://ntpc.co.in/" target="_blank" rel="noopener">NTPC</a> to invest up to ₹200 billion (~$2.32 billion) in its renewable energy subsidiaries, NTPC Green Energy (<a href="https://www.ngel.in/ngel-home" target="_blank" rel="noopener">NGEL</a>) and NTPC Renewable Energy (<a href="https://ntpcrel.co.in/" target="_blank" rel="noopener">NREL</a>), as well as other joint ventures. The earlier investment cap was ₹75 billion (~$873.38 million).</p>
<p>NGEL has a renewable energy portfolio of approximately 32 GW. Of this capacity, approximately 6 GW is operational, roughly 17 GW is contracted or under award, and 9 GW is in the pipeline.</p>
<p>The increase in the investment limit will help NTPC’s subsidiaries achieve their goal of 60 GW of renewable energy capacity by 2032.</p>
<p>The government also approved a special exemption for NLC India (<a href="https://www.nlcindia.in/website/en/" target="_blank" rel="noopener">NLCIL</a>) from the prevailing investment guidelines for public sector enterprises to invest ₹70 billion (~$815.16 million) in its wholly owned subsidiary, NLC India Renewables (NIRL). NIRL will invest this amount in multiple projects, either directly or by forming joint ventures, without requiring prior approval under the existing delegation of powers.</p>
<p>This investment is also exempted from the 30% net worth ceiling prescribed by the Department of Public Enterprises for total investments by central public sector enterprises in joint ventures and subsidiaries.</p>
<p>NLC India aims to develop 10.11 GW of renewable energy capacity by 2030, with a projected expansion to 32 GW by 2047. It currently operates seven renewable energy assets with a total installed capacity of 2 GW. These assets are either operational or close to commercial operation. They will be transferred to NIRL after the Cabinet’s approval.</p>
<p>Recently, NLCIL <a href="https://www.mercomindia.com/nlc-india-to-invest-%E2%82%B916-3-billion-in-renewables-subsidiary" target="_blank" rel="noopener">granted</a> an in-principle approval to invest up to ₹16.3 billion (~$190 million) in one or more tranches in NIRL.</p>
<p>In June this year, NTPC <a href="https://www.mercomindia.com/ntpc-raises-750-million-via-external-commercial-borrowing" target="_blank" rel="noopener">raised</a> an unsecured $750 million via an external commercial borrowing syndicated term loan facility.</p>


Government Allows NTPC, NLC to Invest ₹270 Billion in Green Energy Arms


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					</table><p><a href="https://www.ngel.in/ngel-home" target="_blank" rel="noopener">NTPC Green Energy</a> has issued an engineering, procurement, and construction (EPC) tender for developing a 250 MW/1,000 MWh battery energy storage system (BESS) at NTPC Kayamkulam in Kerala.</p>
<p>Bids must be submitted by June 24, 2025. Bids will be opened on the same date.</p>
<p>Bidders can quote for one or both of the following blocks:</p>
<ul>
<li>Block-1: 125 MW/500 MWh integrated at 33 kV existing solar pooling switchgear</li>
<li>Block-2: 125 MW/500 MWh integrated at 220 kV switchyard</li>
</ul>
<p>The scope of work entails the design, engineering, packaging and forwarding, transportation, unloading, storage, construction, erection, testing, and commissioning of the 250 MW/1,000 MWh BESS on a turnkey basis. It also involves providing operations and maintenance for the BESS for 15 years.</p>
<p>The storage systems must be provided in a standardized container with a minimum DC capacity of 5 MWh per container. BESS containers must be compliant with the National Fire Protection Association requirements.</p>
<p>The BESS and its battery’s designed life must be 15 years (considering daily single-cycle operation) from the successful trial run date.</p>
<p>Selected bidders must also conduct grid compliance studies, reactive power compensations, and power quality compliance for the BESS up to the 400 KV/220 KV grid interconnection point at the NTPC project switchyard.</p>
<p>They must provide BESS containers with battery racks and battery and energy management, supervisory control, data acquisition, power conversion, protection, communication, and high and low-tension systems. Additionally, they must provide high-tension transformers and auxiliary power, monitoring and control, and remote control and monitoring systems.</p>
<p>Successful bidders must also construct a control room with a switchgear room, including all electrical fittings, furniture, and a security cabin.</p>
<p>Recently, NTPC Green <a href="https://www.mercomindia.com/ntpc-green-land-and-transmission-900-mw-solar-projects" target="_blank" rel="noopener">invited</a> bids for land and an extra-high-voltage transmission system package to develop up to 900 MW interstate transmission system-connected solar projects in Bhuj, Gujarat.</p>
<p>Subscribe to Mercom’s <a href="https://www.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>


NTPC Green Issues EPC Tender for 250 MW/1,000 MWh BESS in Kerala


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					</table><p><a href="https://www.ngel.in/ngel-home" target="_blank" rel="noopener">NTPC Green Energy</a> has invited bids for land and an extra-high-voltage transmission system package to develop up to 900 MW interstate transmission system (ISTS)-connected solar projects in Bhuj, Gujarat.</p>
<p>Bids must be submitted by June 9, 2025. Bids will be opened on the same day.</p>
<p>Bidders must submit a bidding document cost of ₹22,500 (~$265).</p>
<p>Bidders applying for a capacity of 300 MW must submit a bid security of ₹20 million (~$235,277), those quoting 600 MW must submit ₹50 million (~$588,192), and those quoting 900 MW must submit ₹100 million (~$1.17 million).</p>
<p>Selected bidders must arrange government or private land at 5 acres/MW on a freehold or leasehold basis for a minimum of 29 years and 11 months. They must also complete fencing of the offered land with at least two gates and security cabins per tender drawings, excluding areas related to the transmission line.</p>
<p>Successful bidders must provide necessary land documents and inputs for arranging ISTS connectivity. They must also design and construct an extra-high-voltage transmission line to the ISTS substation. This responsibility includes obtaining the right of way, constructing the terminal bay at the ISTS end, supplying mandatory spares for the transmission line, and undertaking the operation and maintenance of the transmission line and terminal bay for three years post-project commissioning.</p>
<p>Bidders must have secured land for solar or wind projects with a minimum combined capacity of 100 MW, including at least one project or park with a minimum capacity of 50 MW. These projects may be either operational or under development.</p>
<p>Alternatively, bidders must have executed an industrial project in the power, steel, oil and gas, petrochemical, fertilizer, cement, or coal mining sectors valued at a minimum of ₹179 million (~$2.1 million) for bids up to 300 MW, and ₹597,000 (~$7,022)/MW for bids of higher capacity, within the past ten years. They must have delivered these projects either as a developer or an engineering, procurement, and construction contractor.</p>
<p>Before the techno-commercial bid opening date, the referenced projects must have been operational for at least one year for non-renewable sectors or six months for renewable energy sectors.</p>
<p>Bidders must also have completed at least one electrical substation project with a minimum voltage of 33 kV, equipped with circuit breakers and a power transformer. These substations must also have been operational for at least one year for non-renewable or six months for renewable sectors before the bid opening.</p>
<p>Bidders must have had a minimum annual average turnover of ₹179 million (~$2.1 million) for bids up to 300 MW and ₹597,000 (~$7,022)/MW for larger bids during the last three financial years. They must also have maintained a positive net worth as of the last day of the previous financial year.</p>
<p>Recently, NTPC Renewable Energy <a href="https://www.mercomindia.com/ntpc-rel-land-power-evacuation-230-mw-solar-project/" target="_blank" rel="noopener">invited</a> bids for a land and power evacuation package to develop 230 MW ISTS-connected solar projects with a battery energy storage system near the 230 MW Ettayapuram solar project in Tamil Nadu.</p>
<p>Subscribe to Mercom’s <a href="https://www.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>


NTPC Green Floats Land and Transmission Tender for 900 MW Solar Projects


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					</table><p>NTPC Green Energy (<a href="https://www.ngel.in/ngel-home" target="_blank" rel="noopener">NGEL</a>) has invited bids for procuring 2,500 kW central inverters for a 140 MW solar power project in Bilhaur, Uttar Pradesh.</p>
<p>Bids must be submitted by April 8, 2025. Bids will be opened on the same day.</p>
<p>Selected bidders must furnish a contract performance guarantee of 10% of the total order value.</p>
<p>They must procure TBEA’s model-TC2500KF central inverters which are fully compatible with the existing TBEA inverters installed at the Bilhaur solar project. They must be designed as direct replacements, requiring no modifications.</p>
<p>Successful bidders must submit an interchangeability certificate indicating the inverters’ compatibility with the project’s existing TBEA inverters and provide factory test reports upon material delivery.</p>
<p>The inverters must have a warranty of 12 months from the date of commissioning or 18 months from the date of receipt, whichever occurs earlier.</p>
<p>Delay in meeting project requirements will attract liquidated damages of 0.5% of the unexecuted order value per week of delay. However, the bidder’s liability will not exceed 5% of the awarded order value.</p>
<p>Bidders must be Class I local suppliers per the Public Procurement (Preference to Make in India), Order 2017, and subsequent amendments issued by the Department for Promotion of Industry and Internal Trade.</p>
<p>Bidders must submit their experience through authenticated documents such as work and purchase orders, letters of award, contract agreements, and client and completion certificates.</p>
<p>Bidders withdrawing their offers within the validity period will be barred from future NTPC tenders for six months from the withdrawal date.</p>
<p>Recently, NTPC Renewable Energy <a href="https://www.mercomindia.com/ntpc-renewable-energy-813-mw-wind-project-karnataka" target="_blank" rel="noopener">invited</a> bids for supplying and installing 271 wind turbine generators for an 813 MW interstate transmission system-connected power project in Bellary, Karnataka.</p>
<p>In the same month, NGEL <a href="https://www.mercomindia.com/ntpc-green-issues-eoi-5-mw-solar-12-mwh-battery" target="_blank" rel="noopener">invited</a> expressions of interest to develop a 5 MW solar project and a 4 MW/12 MWh battery energy storage system in Great Nicobar Island.</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> for timely updates on all solar tenders issued by various agencies in India.</p>


NTPC Floats Tender to Procure 2.5 MW Central Inverters for Solar Project


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					</table><p><a href="https://www.ngel.in/ngel-home" target="_blank" rel="noopener">NTPC Green Energy</a> has invited expressions of interest (EoI) to develop a 5 MW solar project and a 4 MW/12 MWh battery energy storage system in Great Nicobar Island.</p>
<p>This EoI is open to any Indian company, its consortium, affiliates, or representatives.</p>
<p>Bids must be submitted by April 18, 2025. Bids will be opened on April 24.</p>
<p>The EoI aims to engage well-qualified companies with relevant expertise to develop and execute the project efficiently. A detailed study must be conducted to assess the island’s energy requirements, evaluate the existing transmission system, and determine the optimal capacity for the renewable energy project and the necessary energy storage.</p>
<p>Bidders must outline their technical and commercial approach in alignment with NTPC Green Energy’s requirements for project installation. Submissions should include a comprehensive implementation plan, along with details of past experience in renewable energy and battery storage projects.</p>
<p>Additionally, bidders should provide information on different technologies, energy storage options, cost optimization strategies, and transit solutions.</p>
<p>The responses received in the EoI will be used by NTPC Green Energy to identify prospective companies that are technically and commercially capable of installing renewable energy projects at Great Nicobar Island. The information gathered will also help formulate specifications, qualifying criteria, and techno-commercial terms and conditions for the tender process.</p>
<p>Bidders should have commissioned combined or standalone solar and battery storage projects that are under execution or have been completed. Work orders of past or under-execution projects should be submitted along with the EoI. The work orders must be preferably from central government, state government, or public sector undertakings.</p>
<p>In January, NTPC Renewable Energy <a href="https://www.mercomindia.com/ntpc-invites-bids-for-1200-mw-solar-projects-with-600-mw-energy-storage/" target="_blank" rel="noopener">invited</a> bids to set up 1,200 MW interstate transmission system-connected solar power projects integrated with 600 MW/2,400 MWh (600 MW x 4 hours) energy storage systems.</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> for timely updates on all solar tenders issued by various agencies in India.</p>


NTPC Green Issues EoI for 5 MW Solar Project with 12 MWh Battery Storage


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					</table><p>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-silfab-solar-million/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Silfab Solar, a solar module manufacturer, has </strong><a href="https://mercomcapital.com/silfab-solar-raises-100-million/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> $100 million in new financing to scale its state-of-the-art solar cell manufacturing plant</strong>. The funding comprises a $50 million equity investment led by funds advised by ARC Financial. The funding also includes investment from undisclosed existing co-investors and a $50 million senior secured financing led by Breakwall Capital, an energy-focused asset manager, and SR Alternative Credit.</p>
<p><strong>Iontra, a Colorado-based battery charging solutions provider for electric vehicles and residential energy storage systems, </strong><a href="https://mercomcapital.com/iontra-raises-45-million-in-series-c-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $45 million in a Series C funding round</strong>. The company has raised $120.3 million through funding so far. Energy sector investor Volta Energy Technologies led the funding round with additional support from other unnamed investors. This funding will help increase its production and make it available for customers in 2025.</p>
<p><strong>MET Group, a Switzerland-based integrated energy company, <a href="https://mercomcapital.com/met-group-acquires-comax-france/" target="_blank" rel="noopener">announced</a> the acquisition of 100% shareholding in Comax France</strong>, a combined heat and power and battery storage project developer. The financial terms of the transaction remained undisclosed. With this acquisition, the company has expanded its assets portfolio in Western Europe. MET Group will support the construction of Comax’s ready-to-build projects that are expected to be operational by mid-2026.</p>
<p><strong>NTPC Green Energy’s ₹100 billion (~$1.19 billion) initial public offering (IPO) was </strong><a href="https://www.mercomindia.com/ntpc-green-energy-ipo-oversubscribed" target="_blank" rel="noopener"><strong>oversubscribed</strong></a><strong> 2.42 times at the end of the bidding window on November 22, 2024</strong>. The price band was set at ₹102-108 (~$1.21- 1.28) per equity share with a face value of ₹10 (~$0.119). The IPO saw bids for 1.43 billion shares, exceeding the 593.17 million shares on offer. The company’s shares were trading at a nil grey market premium. The shares will likely be listed on the BSE and NSE on November 25, 2024.</p>
<p>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>.</p>
<p>Read last week’s funding <a href="https://mercomcapital.com/funding-ma-roundup-lyten-acquires-battery-manufacturing-assets-from-cuberg/" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Silfab Solar Raises $100 Million


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					</table><p><a href="https://www.mercomindia.com/telangana-discom-floats-tenders-for-3-mw-solar-power-projects" target="_blank" rel="noopener">Northern Power Distribution Company of Telangana has issued two tenders for 3 MW ground-mounted solar power projects</a> in Karimnagar and Sircilla districts. The last date to submit bids for both tenders is December 12, 2024. Bids will be opened on December 13, 2024. The project must be completed within six months. Bidders must pay a bid security of 2% of the bid amount. Bidders must pay a transaction fee of 0.03% on estimated contract value (ECV) up to ₹500 million (~$5.91 million) plus GST. In addition, the successful bidder must pay 0.04% of ECV with a cap of ₹10,000 (~$118.371) as a corpus fund.</p>
<p><a href="https://www.mercomindia.com/ntpc-green-energy-ipo-oversubscribed" target="_blank" rel="noopener">NTPC Green Energy’s ₹100 billion (~$1.19 billion) initial public offering (IPO) was oversubscribed 2.42 times at the end of the bidding</a> window on November 22, 2024. The price band was set at ₹102-108 (~$1.21- 1.28) per equity share with a face value of ₹10 (~$0.119). The IPO saw bids for 1.43 billion shares, exceeding the 593.17 million shares on offer. Retail investors led the demand, with a subscription rate of 3.44, followed by qualified institutional buyers at 3.32 and shareholders at 1.60. The non-institutional investors’ portion was subscribed 0.81 times, and the employees’ portion was 0.80. The company’s shares were trading at a nil grey market premium. The shares will likely be listed on the BSE and NSE on November 25, 2024.</p>


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