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					</table><p>Bid prices in the battery energy storage system (BESS) market are <a href="https://www.mercomindia.com/vgf-lcos-and-the-changing-economics-of-battery-storage-in-india" target="_blank" rel="noopener">declining</a> sharply, driven by viability gap funding (VGF) support and intense competition. While VGF has reduced upfront project costs, it has also spurred aggressive bidding that may not fully reflect the actual levelized cost of storage (LCOS), which represents the true lifecycle cost of storage assets.</p>
<p>Prostarm Info Systems <a href="https://mercomindia.com/prostarm-wins-south-eastern-railways-2-mw-rooftop-solar-auction" target="_blank" rel="noopener">won</a> South Eastern Railway’s auction to set up 2.059 MW rooftop solar systems under the Santragachi division in Howrah, West Bengal. Prostarm won the project at a contract value of ₹134.3 million (~$1.48 million). The tender was floated in November 2025.</p>
<p>The Ministry of New and Renewable Energy <a href="https://mercomindia.com/solar-module-capacity-under-almm-jumps-to-162-gw" target="_blank" rel="noopener">expanded</a> the Approved List of Models and Manufacturers (ALMM) by adding 17,268 MW of solar module capacity. The cumulative module manufacturing capacity under ALMM now stands at 162,109 MW.</p>
<p>The Bihar Electricity Regulatory Commission <a href="https://www.mercomindia.com/bihar-approves-procurement-of-190-mw-peak-power-from-hybrid-projects" target="_blank" rel="noopener">approved</a> a proposal by Bihar State Power Holding Company to procure 190 MW of assured peak power supply through an interstate transmission system–connected wind–solar hybrid project with a co-located BESS under the Solar Energy Corporation of India’s hybrid tranche-VI program.</p>
<p>The Andhra Pradesh Electricity Regulatory Commission <a href="https://mercomindia.com/andhra-pradesh-directs-monthly-energy-settlement-for-rooftop-solar-consumers" target="_blank" rel="noopener">directed</a> all power distribution companies (DISCOMs) in the state to implement monthly energy settlement and billing for solar rooftop prosumers with immediate effect. The Commission has also directed DISCOMs to ensure that payments for excess energy exported to the grid are made through electronic transfer, in line with existing regulations.</p>
<p>India’s commercial and industrial (C&amp;I) renewable energy market is <a href="https://www.mercomindia.com/solar-open-access-primary-growth-engine-for-ci-units-in-india-interview" target="_blank" rel="noopener">undergoing</a> a structural transition, with distributed solar growing beyond rooftop installations toward larger green open-access projects. Rising electricity costs, corporate decarbonization targets, and the need for long-term cost visibility are pushing C&amp;I consumers to reassess how they procure clean power.</p>
<p>West Bengal State Electricity Distribution Company <a href="https://www.mercomindia.com/west-bengal-floats-tender-for-20-mw-100-mwh-solar-plus-bess-project" target="_blank" rel="noopener">invited</a> bids for the design, engineering, supply, construction, and commissioning of a 100 MW solar power project with a 25 MW/100 MWh BESS at Goaltore in the Paschim Medinipur district of West Bengal (Phase II).</p>
<p>The West Bengal Green Energy Development Corporation <a href="https://www.mercomindia.com/west-bengal-floats-tenders-for-3-mw-rooftop-solar-bess-projects" target="_blank" rel="noopener">issued</a> three engineering, procurement, and construction tenders for setting up grid-connected rooftop solar projects with BESS, with a cumulative capacity of 3 MW, at government poultry farms in Coochbehar, Malda, and Nadia districts.</p>
<p>India <a href="https://mercomindia.com/transmission-line-additions-in-9m-fy-2026-meet-less-than-half-the-target" target="_blank" rel="noopener">achieved</a> 5,077 circuit kilometers (ckm) of power transmission lines between April and December in the financial year (FY) 2025–26, accounting for 47.5% of the cumulative target of 10,696 ckm set for the period, according to Central Electricity Authority data.</p>
<p>UJVNL, a Government of Uttarakhand undertaking, <a href="https://www.mercomindia.com/uttarakhand-invites-bids-to-set-up-16-mw-40-mwh-bess-in-haridwar" target="_blank" rel="noopener">floated</a> a tender to set up a 16 MW/40 MWh BESS at the Pathri substation and hydroelectric project in Uttarakhand’s Haridwar district. The projects will receive viability gap funding support. Bids must be submitted by March 5, 2026. Bids will be opened on March 7.</p>
<p>Mumbai-based Radiance Renewables, a clean energy firm backed by Eversource Capital, <a href="https://mercomindia.com/radiance-renewables-raises-100-million-from-danish-fund-fmo" target="_blank" rel="noopener">raised</a> about $100 million in equity funding from two major international investors — Impact Fund Denmark and the Dutch entrepreneurial development bank FMO. Impact Fund Denmark and FMO are investing $50 million each.</p>
<p>Tamilnadu Petroproducts will <a href="https://mercomindia.com/tamilnadu-petroproducts-to-procure-13-2-mw-of-solar-power-from-zelestra-spv" target="_blank" rel="noopener">procure</a> approximately 13.2 MW of solar power from Navia Three Power (NTPPL), a special-purpose vehicle (SPV) of renewable energy solutions company Zelestra, as a captive consumer.</p>
<p>Utility-scale energy storage firm Fluence Energy <a href="https://www.mercomindia.com/fluence-energys-revenue-jumps-154-to-475-2-million-in-q1-fy2026" target="_blank" rel="noopener">recorded</a> revenue of $475.2 million, an increase of approximately 154.4% year-over-year (YoY), in the first quarter (Q1) of the FY 2026. The company recorded a net loss of $62.6 million, compared with approximately $57 million in the same quarter last year.</p>
<p>Microinverter and battery storage supplier Enphase Energy <a href="https://www.mercomindia.com/enphases-q4-2025-revenue-down-on-softening-us-europe-demand" target="_blank" rel="noopener">reported</a> revenue of $343.32 million for Q4 of 2025, down 10.29% YoY from $382.71 million. The revenue, however, in Q4 surpassed analysts’ expectations by $3.2 million. The company’s Q4 revenue included $2.3 million of safe harbor revenue.</p>
<p>AusEnergy Services <a href="https://www.mercomindia.com/australia-awards-12-gwh-of-long-duration-storage-battery-projects" target="_blank" rel="noopener">awarded</a> six new long-duration energy storage battery projects totaling 1.17 GW/11.98 GWh under the sixth round of the New South Wales Electricity Infrastructure Roadmap.</p>
<p>Philippines-based renewable energy company ACEN Renewables International, a subsidiary of ACEN Corporation, <a href="https://www.mercomindia.com/acen-consolidates-joint-venture-with-upc-renewables-takes-100-ownership" target="_blank" rel="noopener">consolidated</a> its joint venture (JV) with UPC Renewables, taking 100% ownership of the JV. Through this acquisition, ACEN will add 819 MW of renewable energy projects to its India portfolio, comprising three projects under construction and at advanced stages of development in Rajasthan and Karnataka.</p>
<p>The board of directors of government-owned lender, Indian Renewable Energy Development Agency (IREDA), <a href="https://www.mercomindia.com/iredas-board-approves-fundraise-of-%E2%82%B929-94-billion-through-qip" target="_blank" rel="noopener">approved</a> a fundraise of ₹29.94 billion (~$330.14 million) through a qualified institutions placement.</p>


Daily News Wrap-Up: The Role of VGF and LCOS in India’s BESS Transition


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					</table><p><a href="https://prostarm.com/" target="_blank" rel="noopener">Prostarm Info Systems</a> has won <a href="https://ser.indianrailways.gov.in/" target="_blank" rel="noopener">South Eastern Railway</a>’s auction to set up 2.059 MW rooftop solar systems under the Santragachi division in Howrah, West Bengal.</p>
<p>Prostarm won the project at a contract value of ₹134.3 million (~$1.48 million).</p>
<p>The tender was <a href="https://www.mercomindia.com/south-eastern-railways-floats-tender-for-1-37-mw-rooftop-solar-projects" target="_blank" rel="noopener">floated</a> in November 2025.</p>
<p>The scope of work includes the design, supply, erection, testing, and commissioning of rooftop on-grid solar systems with capacities ranging from 1 kW to 50 kW across multiple sites.</p>
<p>Each system will include solar modules, inverters, balance-of-system components, and mounting structures.</p>
<p>It also covers a five-year comprehensive maintenance contract.</p>
<p>Prostarm must complete the project within 12 months from the date of the letter of award.</p>
<p>The company has executed and commissioned rooftop solar projects totalling 7.35 MW across over 100 sites in the last three financial years.</p>
<p>In 2018, the company expanded its operations into the engineering, procurement, and construction segment, specifically focusing on installing rooftop solar systems..</p>
<p>Last year, Prostarm <a href="https://mercomindia.com/prostarm-to-set-up-1-2-gwh-bess-manufacturing-plant-in-haryana" target="_blank" rel="noopener">announced</a> it was establishing a 1.2 GWh battery energy storage system manufacturing plant at the Reliance Model Economic Township in Jhajjar, Haryana, at a cost of ₹250 million (~$2.9 million).</p>
<p>According to Mercom India’s Q3 2025 India Rooftop Solar Market Report, India <a href="https://mercomindia.com/india-added-4-9-gw-rooftop-solar-capacity-in-9m-2025" target="_blank" rel="noopener">added</a> 4.9 GW of rooftop solar capacity in the first nine months (9M) of the calendar year 2025, compared to 1.9 GW in the previous year, a 161% year-over-year increase.</p>
<p>In 2024, South Eastern Railway <a href="https://www.mercomindia.com/railway-rooftop-solar-three-states" target="_blank" rel="noopener">invited</a> bids to empanel agencies to set up 8.38 MW of grid-connected rooftop solar projects in Odisha, Jharkhand, and West Bengal through public-private partnerships on a design, build, finance, operate, and transfer basis.</p>
<p>In the same year, the Asansol Division of Eastern Railway in West Bengal <a href="https://mercomindia.com/eastern-railway-1-mw-rooftop-solar-asansol" target="_blank" rel="noopener">invited</a> bids from solar developers to install 1 MW grid-connected rooftop solar projects on a design, build, finance, operate, and transfer basis.</p>


Prostarm Wins South Eastern Railway’s 2 MW Rooftop Solar Auction


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					</table><p>Prostarm Info Systems <a href="https://www.mercomindia.com/prostarm-wins-kptcls-150-mw-300-mwh-standalone-bess-auction#:~:text=The%20company%20won%20the%20entire,capital%20cost%2C%20whichever%20is%20lower." target="_blank" rel="noopener">won</a> Karnataka Power Transmission Corporation’s auction to set up a 150 MW/300 MWh standalone battery energy storage system in the 400 kW Doni substation, Gadag in Karnataka. The company won the entire capacity at a tariff of ₹254,000 (~$2,915)/MW/month, along with the state component for viability gap funding (VGF). Under the VGF funding, Prostarm can receive ₹2.7 million (~$30,990.9)/MW or up to 30% of the capital cost, whichever is lower.</p>
<p>India <a href="https://www.mercomindia.com/india-must-urgently-set-post-2030-renewable-energy-goals" target="_blank" rel="noopener">has</a> the market size, ambition, and momentum to lead, but the work ahead is about more than just hitting targets. It is about planning past 2030, building resilience into manufacturing, closing the skills gap, committing to research and development, and executing at scale. If we can do that, we will not just meet our goals; we will define the global standard for what a clean energy transition can look like. This year’s Mercom India Renewables Summit left no doubt about where India’s renewable energy industry stands, and where it is headed.</p>
<p>Four states <a href="https://www.mercomindia.com/four-states-seek-time-until-year-end-to-implement-green-energy-corridor" target="_blank" rel="noopener">sought</a> an extension until December 2025 to implement the Intrastate Transmission System Green Energy Corridor Phase-I (InSTS GEC-I). While Andhra Pradesh, Maharashtra, Gujarat, and Himachal Pradesh have requested a further extension beyond June 2025, Rajasthan, Karnataka, Madhya Pradesh, and Tamil Nadu have completed the implementation of the green energy corridor, Shripad Naik, Minister of State in the Ministry of New and Renewable Energy, told the Lok Sabha. The Minister also shared the details of the state-wise funds approved and released under the program.</p>
<p>Driven by the goals of <a href="https://www.mercomindia.com/plastic-recycler-ganesha-ecosphere-goes-green-with-5-mw-rooftop-solar-system" target="_blank" rel="noopener">reducing</a> high electricity expenses from its energy-intensive operations and accelerating its sustainability initiatives, plastic recycler Ganesha Ecosphere has installed a 5 MW rooftop solar power system at its facility in Telangana. Executed by Solluz Energy, the project employs Trina 595 Wp solar modules, Sungrow inverters, and aluminum mounting structures to ensure durability and long-term performance. By offsetting a significant portion of its energy needs, Ganesha Ecosphere expects to achieve annual electricity savings of ₹51.5 million (~$590,179), with a short payback period of 3.5 years.</p>
<p>NTPC Renewable Energy <a href="https://www.mercomindia.com/ntpc-rel-invites-bids-for-1200-mw-solar-module-supply-in-gujarat" target="_blank" rel="noopener">invited</a> bids to supply solar modules for its upcoming 1,200 MW capacity solar projects at the Khavda Renewable Energy Park in the Rann of Kutch, Gujarat. Bids must be submitted by August 28, 2025. Bids will be opened on the same day. The scope of work includes the manufacturing, supply, packing, forwarding, and transportation of the bifacial crystalline silicon modules with a minimum nominal power rating of 570 Wp to the Khavda site. Bidders must have supplied or manufactured at least 200 MW of solar modules or cells within any 12 consecutive months during the last five years. At least one of these orders must have been for 50 MW or higher.</p>
<p>South Africa’s power distribution company, Eskom Holdings, <a href="https://www.mercomindia.com/south-africas-eskom-invites-bids-to-offtake-291-mw-of-solar-power" target="_blank" rel="noopener">invited</a> bids to offtake 291 MW of power from its solar projects. The tender is a part of Eskom’s Renewable Energy Offtake Program, which was launched to transition away from coal-based power sources. Bidders must bid for the offtake of at least 10 MW of power by signing power purchase agreements (PPAs) for five to 20 years. The energy purchased through the PPA must not exceed the notified maximum demand under the electricity supply agreement.</p>
<p>Norway-based renewable energy solutions provider Scatec <a href="https://www.mercomindia.com/scatecs-revenue-rises-26-in-q2-on-forex-gains-and-lower-interest-costs" target="_blank" rel="noopener">posted</a> a revenue of NOK1.31 billion (~$124.76 million) in the second quarter of the financial year 2025, a 26% year-over-year increase from NOK1.17 billion (~$111.43 million). The revenue was driven by lower interest costs, foreign exchange gains, and the divestment of hydropower and the Vietnam-based wind farm earlier in 2025. Terje Pilskog, Chief Executive Officer at Scatec, said, “The Philippines delivered a strong quarter in terms of power production, ancillary services, and financial contribution. Power production reached 106 GWh, which is 67% higher than last year. This is due to strong hydrology with high water levels in the reservoirs at the start of the quarter and good water inflows during this period.”</p>


Daily News Wrap-Up: Prostarm Wins KTPCL’s 150 MW/300 MWh BESS Auction


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					</table><p><a href="https://prostarm.com/" target="_blank" rel="noopener">Prostarm Info Systems</a> has won Karnataka Power Transmission Corporation’s (<a href="https://kptcl.karnataka.gov.in/english" target="_blank" rel="noopener">KPTCL</a>) auction to set up a 150 MW/300 MWh standalone battery energy storage system (BESS) in the 400 kW Doni substation, Gadag in Karnataka.</p>
<p>The company won the entire capacity at a tariff of ₹254,000 (~$2,915)/MW/month, along with the state component for viability gap funding.</p>
<p>Under the VGF funding, Prostarm can receive ₹2.7 million (~$30,990.9)/MW or up to 30% of the capital cost, whichever is lower.</p>
<p>The tender was floated in June this year.</p>
<p>The project will be set up on a build-own-operate basis for 12 years.</p>
<p>In July 2025, Prostarm Info Systems was one of the winners of the Bihar State Power Generation Company’s auction to <a href="https://www.mercomindia.com/prostarm-hindustan-power-barbrik-win-bihars-125-mw-420-mwh-bess-auction" target="_blank" rel="noopener">set</a> up a standalone BESS of a cumulative capacity of 125 MW/500 MWh. It won 30 MW/120 MWh at a tariff of ₹444,000 (~$5,180.26)/MW/month.</p>
<p>In the same month, the company <a href="https://www.mercomindia.com/prostarm-to-set-up-1-2-gwh-bess-manufacturing-plant-in-haryana" target="_blank" rel="noopener">announced</a> plans to establish a 1.2 GWh BESS manufacturing plant at the Reliance Model Economic Township in Jhajjar, Haryana. The facility would be developed at a cost of ₹250 million (~$2.9 million).</p>
<p>In April 2025, KPTCL <a href="https://www.mercomindia.com/sarala-oriana-pace-win-kptcls-1-gwh-bess-auction" target="_blank" rel="noopener">awarded</a> Sarala Project Works, Oriana Power, and Pace Digitek to set up 500 MW/1,000 MWh grid-connected standalone BESS to manage peak power demand.</p>
<p>Showcasing a <a href="https://www.mercomindia.com/india-added-341-mwh-of-energy-storage-capacity-in-2024" target="_blank" rel="noopener">growing</a> demand for BESS, India installed over 341 MWh of BESS in 2024, marking an over sixfold increase from the 51 MWh installed in 2023, according to Mercom India Research’s India’s Energy Storage Landscape. With these additions, India’s total installed battery energy storage capacity stood at approximately 442 MWh as of December 2024.</p>
<p>According to the report, Karnataka led in cumulative BESS installations with 36% of the total capacity, followed by Chhattisgarh with 27% and Gujarat with 17% in terms of installed energy storage capacity.</p>
<p>In June 2025, 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 VGF to support BESS development. Under this tranche, a VGF of ₹1.8 million (~$21,043)/MWh would be provided to support the development of 30 GWh of BESS capacity. The funding will be sourced from the power system development fund with a total financial outlay of ₹54 billion (~$631.30 million).</p>


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