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					</table><p>The Ministry of Power <a href="https://www.mercomindia.com/power-ministry-ends-uniform-renewable-energy-tariff-mechanism" target="_blank" rel="noopener">ended</a> the uniform renewable energy tariff (URET) mechanism in response to concerns of renewable energy implementing agencies and developers over the reluctance of procurers to sign power purchase agreements. The Ministry said that in light of the substantial renewable energy capacity awaiting the signing of power sale agreements and to expedite the deployment of renewable energy, it had decided to withdraw the URET mechanism.</p>
<p>The Ministry of Power <a href="https://www.mercomindia.com/government-exempts-off-stream-pumped-storage-projects-from-cea-concurrence" target="_blank" rel="noopener">exempted</a> off-stream closed-loop pumped storage projects (PSP), irrespective of the quantum of capital expenditure, from the requirement of concurrence by the Central Electricity Authority (CEA). However, the developers of such PSPs must seek technical guidance from the CEA, the Ministry said in a gazette notification. The notification said hydroelectric generating stations, involving an estimated capital expenditure exceeding ₹30 billion (~$342 million), will require the CEA’s concurrence. PSPs are seen as a viable energy storage solution to overcome the intermittency of renewable energy sources. India has an installed capacity of approximately. 6.4 GW of pumped storage capacity and a PSP potential of more than 200 GW.</p>
<p>The Supreme Court of India <a href="https://www.mercomindia.com/supreme-court-upholds-primacy-of-public-interest-in-renewables-procurement" target="_blank" rel="noopener">dismissed</a> appeals filed by Gujarat Urja Vikas Nigam (GUVNL) against the orders of the Gujarat Electricity Regulatory Commission (GERC) and the Appellate Tribunal for Electricity that upheld the decisions allowing four wind energy companies to seek separate tariff determinations for not availing the benefit of accelerated depreciation under the Income Tax Act. The Court held that the tariff of ₹3.56 (~$0.040)/kWh, determined by the GERC in its 2010 order, applied only to wind energy projects that availed accelerated depreciation. Since the respondent companies did not avail such benefit and GUVNL had failed to obtain any binding commitment from them regarding depreciation choice, the companies were entitled to seek separate tariff determinations.</p>
<p>The Solar Energy Corporation of India <a href="https://www.mercomindia.com/seci-invites-bids-for-600-mw-1200-mwh-bess-in-andhra-pradesh" target="_blank" rel="noopener">issued</a> a Request for Proposal to select a supplier for a 600 MW/1,200 MWh standalone grid-connected Battery Energy Storage System (BESS) at Kolimigundla, Nandyal District, Andhra Pradesh. The project is eligible for grants under the Viability Gap Funding program for BESS Tranche-II. Bids must be submitted by September 10, 2025. The bids will be opened on September 11. The scope of work includes the design, engineering, manufacturing, testing, commissioning, and comprehensive operation and maintenance for 15 years.</p>
<p>Government-owned transmission utility, Power Grid Corporation of India (POWERGRID), <a href="https://www.mercomindia.com/powergrid-to-raise-%E2%82%B950-billion-via-private-placement-of-bonds" target="_blank" rel="noopener">received</a> approval to raise up to ₹50 billion (~$569.3 million) via private placement of bonds. The 82nd issue of POWERGRID bonds in FY 2026 comprises a base size of ₹10 billion (~$113.86 million) and a greenshoe size of ₹40 billion (~$455.4 million). The bonds will be unsecured, non-convertible, non-cumulative, redeemable, and taxable. The bonds will be redeemable at the end of the tenth year, and interest will be paid annually. The coupon/interest offered, the schedule of payment of coupon or interest, and principal will be decided after bidding at the electronic book provider.</p>
<p>Fuel cell and electrolyzer manufacturer Bloom Energy <a href="https://www.mercomindia.com/data-center-business-fuels-bloom-energys-revenue-growth-in-q2-2025" target="_blank" rel="noopener">reported</a> a revenue of $401.2 million for the second quarter (Q2) of 2025, a 25.9% year-over-year (YoY) increase from $278.8 million. The revenue exceeded analysts’ expectations by $22.33 million. The company’s earnings per share came in at $0.10, exceeding analysts’ expectations by $0.08. Its adjusted earnings before interest, taxes, depreciation, and amortization increased to $41.23 million from $10.21 million in the corresponding quarter last year.</p>
<p>Gujarat-based Torrent Power’s revenue from operations <a href="https://www.mercomindia.com/torrent-power-q1-revenue-down-12-yoy#:~:text=Gujarat%2Dbased%20Torrent%20Power's,15.88%20billion%20(~%24180.9%20million)." target="_blank" rel="noopener">decreased</a> 12% YoY to ₹79.06 billion (~$900.3 million) in the Q1 of the financial year 2026. Its earnings before interest, tax, depreciation, and amortization for the quarter also fell 18% to ₹15.88 billion (~$180.9 million). Total comprehensive income declined by 26% to ₹7.39 billion (~$84.1 million). All the figures were impacted due to lower power demand following the early onset of monsoon and elevated gas prices, impacting merchant gains from gas-based generation. Torrent Power currently has an operational renewable capacity of 868 MW in solar and 921 MW of wind. These projects are across Gujarat, Maharashtra, Karnataka, Rajasthan, Madhya Pradesh, Telangana, and other states. An additional 41 MW of commercial and industrial solar projects have been commissioned in states like Haryana, Tamil Nadu, Andhra Pradesh, and Uttar Pradesh.</p>



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					</table><p>The <a href="https://powermin.gov.in/" target="_blank" rel="noopener">Ministry of Power</a> has ended the uniform renewable energy tariff (URET) mechanism in response to concerns of renewable energy implementing agencies and developers over the reluctance of procurers to sign power purchase agreements (PPA).</p>
<p>The Ministry said that in light of the substantial renewable energy capacity awaiting the signing of power sale agreements (PSA) and to expedite the deployment of renewable energy, it had decided to withdraw the URET mechanism.</p>
<p>In February 2024, the government <a href="https://www.mercomindia.com/central-pool-commence-operations" target="_blank" rel="noopener">announced</a> the commencement of a &#8216;Solar Power Central Pool&#8217; and &#8216;Solar-Wind Hybrid Central Pool&#8217; under URET for three years until February 2027.</p>
<p>The URET mechanism was introduced to address the potential impact on procurers in the context of declining bid-discovered prices.</p>
<p>In a notification, the Ministry has now dissolved these central pricing pools due to concerns over power tariff uncertainty.</p>
<p>However, the bids received and letters of award issued under URET will not be impacted. They will remain valid on a standalone basis and can be considered for the signing of PPAs and PSAs. The renewable energy implementing agencies can execute the PSAs/PPAs with the procurers and developers for these bids.</p>
<p>Under URET, any interstate transmission system connected solar and solar-wind hybrid capacity bid after this date will fall under their corresponding pools. The operation of these pools would follow a first-in, first-out approach. The projects receiving their letter of award first will be included and sold within their respective pools.</p>
<p>Mercom had reported how delays in finalizing PSAs and PPAs had <a href="https://www.mercomindia.com/renewable-energy-developers-in-limbo" target="_blank" rel="noopener">created</a> obstacles for developers and policymakers alike.</p>
<p>In July this year, nearly 8 GW of renewable energy capacity comprising solar, wind-solar hybrid, solar with battery energy storage systems, round-the-clock, and firm and dispatchable renewable energy was <a href="https://www.mercomindia.com/terms-designate-renewable-energy-implementing-agencies" target="_blank" rel="noopener">stranded</a> with the Solar Energy Corporation of India for want of offtakers.</p>
<p>The stranded capacity would be much higher if the capacities unsold with the other three renewable energy bidding agencies – NTPC, NHPC, and SJVN- are considered.</p>


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