MNRE Adds 402 MW of Solar Cell Capacity to ALMM, Total Nears 38 GW

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Soleos Energy Files Draft Papers for Initial Public Offering

Daily News Wrap-Up: India’s Transmission Plan Faces Execution Test

EU Solar-Storage Jobs Near 1 Million Mark, Manufacturing Employment Dips

PetroGreen Subsidiaries Secure $20 Million for 40 MW Solar Project

Fengate Asset Management Closes Acquisition of Accelergen Energy

Kanpur Packaging Manufacturer Installs Rooftop Solar to Cut Power Costs

TERI Announces Winner of 115 MWh Battery Storage Auction

Power Ministry Revises RoW Compensation Rules for Transmission Lines


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					</table><p>Exide Energy Solutions (<a href="https://www.exideindustries.com/" target="_blank" rel="noopener">EESL</a>) has completed Phase I of a 6 GWh lithium-ion cell manufacturing facility located in Devanahalli in Bengaluru, Karnataka.</p>
<p>The facility aims to manufacture advanced lithium-ion cells across multiple chemistries and form factors, allowing it to serve mobility and energy storage applications.</p>
<p>In July 2026, Exide Industries (<a href="https://www.exideindustries.com/">EIL</a>) <a href="https://www.mercomindia.com/exide-invests-%E2%82%B91-billion-in-subsidiary-to-fund-lithium-ion-cell-facility" target="_blank" rel="noopener">announced </a>a ₹1 billion (~$10.38 million) investment in EESL to fund a gigawatt-scale lithium-ion cell manufacturing facility in Bengaluru. The investment was made through subscription in EESL’s equity capital on a rights basis.</p>
<p>Post this investment, EIL’s investment in EESL stood at ₹49.02 billion (~$508.85 million).</p>
<p>In March, Exide Industries made an additional <a href="https://www.mercomindia.com/exide-infuses-%E2%82%B94-5-billion-into-subsidiary-eesl-for-battery-manufacturing-expansion" target="_blank" rel="noopener">investment</a> of ₹4.5 billion (~$47.86 million) in its wholly owned subsidiary, EESL, through a rights issue of equity shares.</p>
<p>Last December, Exide <a href="https://www.mercomindia.com/exide-increases-investment-battery-manufacturing-arm" target="_blank" rel="noopener">invested</a> ₹1.8 billion (~$20.04 million) in EESL by subscribing to the subsidiary’s equity capital via a rights issue.</p>
<p>According to an International Energy Agency report, the global lithium-ion battery market <a href="https://www.mercomindia.com/global-lithium-ion-battery-market-surpassed-150-billion-in-2025-iea" target="_blank" rel="noopener">exceeded</a> $150 billion in 2025, up 20% from 2024. The report noted that falling battery costs and expanding applications continue to drive rapid demand growth across multiple sectors.</p>
<p>Global lithium-ion battery deployment in 2025 was six times higher than in 2020. After electric vehicles, battery energy storage systems were a major growth driver, accounting for about 15% of the market. This represents a sharp shift from a decade ago, when nearly half of global battery demand came from portable electronics.</p>
<p>Meanwhile, India’s energy storage pipeline <a href="https://www.google.com/goto?url=CAESjgEB6zswFV89PGFUQ3ZUrCv7csc0yCONaqjYz4n_wWqrnsNWIghiEfwivwkheI1wxn-vw6ZCbd37jRlpAMv2CHeC_QAtjR3XjDqy0kFn3gLrjLCyOuyea5sdh0X2QGfX21ZKg7hobhtfz5pZLibmBptYe25BibJdGigiSY0jkVD8ZVd4yqELmjWftTxVm7iW" target="_blank" rel="noopener">crossed</a> 110 GWh across the under-development and pre-construction stages, according to data from the Mercom India Renewable Energy Project Tracker.</p>
<p>India <a href="https://www.mercomindia.com/indias-battery-storage-additions-jump-84-fold-to-8-2-gwh-in-1h-2026" target="_blank" rel="noopener">added</a> 8.2 GWh of battery energy storage capacity in the first half (1H) of 2026, nearly 84 times the 98.4 MWh installed during the same period last year, according to Mercom India Research’s Q2 and 1H 2026 India’s Energy Storage Landscape Report.</p>


Exide Commissions Phase I of 6 GWh Lithium-ion Cell Plant


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					</table><p>The Mahatma Phule Renewable Energy &amp; Infrastructure Technology (<a href="https://mahapreit.in/" target="_blank" rel="noopener">MAHAPREIT</a>) has invited bids to install 100 MW of behind-the-meter (BTM) rooftop solar projects, with or without battery energy storage systems, in Maharashtra.</p>
<p>The projects must be developed under the renewable energy service company (RESCO) model.</p>
<p>The last date to submit bids is June 23, 2026. Bids will open on June 24.</p>
<p>Bidders must furnish bid security of ₹225,000 (~$2,363)/MW and a performance guarantee of up to 2.5% of the contract value for the quoted package.</p>
<p>They must submit a tender document fee of ₹10,000 (~$105) and a tender processing fee of ₹100,000 (~$1,050)/MW.</p>
<p>Successful bidders must furnish a facilitation charge of 6% of project cost of the allotted capacity.</p>
<p>The scope of work covers the design, engineering, supply, financing, installation, testing, and commissioning of solar systems, with or without battery energy storage, along with comprehensive operations and maintenance for 25 years.</p>
<p>It also includes installing a generation meter and a net meter for the project.</p>
<p>The project has been divided into four packages of 25 MW each: 20 kW to 100 kW solar projects (A1-S); 20 kW to 100 kW solar projects with 30% battery storage for 2 hours (A1-B); and 101 kW to 250 kW solar systems (A2-S). It also includes 101-250 kW solar systems with 50% battery storage for 2 hours (A2-B).</p>
<p>The estimated project cost of solar systems under the A1-S package is ₹50 million (~$525,087)/MW, ₹70 million (~$735,121)/MW for A1-B, ₹50 million (~$525,087)/MW for A2-S, and ₹80 million (~$840,139)/MW for A2-B.</p>
<p>The battery energy storage system must be designed to supply at least 2 hours of continuous discharge. It must also have a battery management system with cell-level monitoring, thermal management, and fault isolation.</p>
<p>Bidders can quote for a minimum capacity of 5 MW and a maximum capacity of 75 MW. They must quote at least 10% of the capacity from solar systems under the A1 package</p>
<p>The Maharashtra Renewable Energy Policy 2025–36 has set a <a href="https://mercomindia.com/maharashtra-aims-to-meet-65-of-its-power-needs-from-renewables-by-fy-2036" target="_blank" rel="noopener">target</a> of a 65% share of renewable energy by the financial year 2035–36 and energy storage equivalent to at least 10% of DISCOM demand by FY 2036.</p>
<p>Bidders must ensure a rated battery energy storage capacity of at least 80% at the end of 10 years and 70% at the end of 15 years. They must quote tariffs accounting for battery cell/module replacement costs to meet these guarantees. They must also maintain a capacity utilization factor of at least 19%.</p>
<p>Solar systems with capacities ranging between 10 kW and 100 kW must be interconnected at the 415 V three-phase level, and solar systems with capacities exceeding 100 kW must be interconnected at the HT/EHT level of 11 kV, 33 kV, or 66 kV.</p>
<p>The project must use modules and cells that comply with the approved list of models and manufacturers and must be commissioned within 12 months.</p>
<p>Bidders must have  commissioned a cumulative capacity of at least 2 MW of grid-connected rooftop, ground-mounted, or BTM solar systems in the last five years. At least one of the systems must have been operational for at least one year.</p>
<p>They must also demonstrate the capability to provide O&amp;M for solar-plus-battery energy storage systems over a 25-year period.</p>
<p>For packages with a battery storage component, bidders must have commissioned a battery energy storage system of at least 0.5 MW/1 MWh in the last five years.</p>
<p>Alternatively, they may have signed a memorandum of understanding or agreement with a battery energy storage system original equipment manufacturer or system integrator with BIS/IEC 62619 certification.</p>
<p>They must also submit an undertaking to facilitate online prior intimation on the Maharashtra State Electricity Distribution Company’s Renewable Energy portal for each system to obtain a Central Electricity Authority/Electrical Inspector compliance certificate or a licensed electrical contractor certificate for systems up to 200 kW.</p>
<p>Bidders must have a minimum net worth of ₹2.5 million (~$26,255)/MW in FY 2025 and an annual turnover of at least ₹10 million (~$105,017)/MW in the last three financial years.</p>
<p>Solar modules for the project must be from the Approved List of Models and Manufacturers (ALMM) List I, and solar cells must be from ALMM List II.</p>
<p>In February 2026, MAHAPREIT <a href="https://www.mercomindia.com/mahapreit-invites-bids-for-2-mw-rooftop-solar-projects-in-maharashtra" target="_blank" rel="noopener">invited</a> bids to set up 2 MW of rooftop solar projects under the RESCO model at the buildings of the Valsad District Cooperative Milk Producers’ Union in Nagpur, Maharashtra.</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>


MAHAPREIT Floats Tender for 100 MW Rooftop Solar Projects


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					</table><p>IndiGrid 2, a wholly owned subsidiary of <a href="https://www.indigrid.co.in/" target="_blank" rel="noopener">India Grid Trust</a> along with <a href="https://amperehourenergy.com/" target="_blank" rel="noopener">Amperehour Solar Technology</a>, has received a letter of award from BSES Rajdhani Power (<a href="https://www.bsesdelhi.com/web/bses" target="_blank" rel="noopener">BRPL</a>) for the design, supply, testing, installation, commissioning, operation, and maintenance of 20 MW/40 MWh Battery Energy Storage Systems (BESS) in Delhi.</p>
<p>The consortium will envisage the project on a Build-Own-Operate-Transfer basis for a period of 12 years. It expects to generate an annual revenue of ₹20 million (~$240,392).</p>
<p>Global Energy Alliance for People and Planet (<a href="https://www.energyalliance.org/" target="_blank" rel="noopener">GEAPP</a>), a global climate financing alliance, will finance 70% of the total capital investment cost through debt financing.</p>
<p>The company did not disclose the BESS technology that will be deployed for the project and the total contract cost.</p>
<p>“We are very excited to announce that IndiGrid has received a letter of award for its first BESS Project. Given the intermittent nature of renewable energy sources and significant capacity expansion, energy storage requirements in the power system will exponentially grow. Being one of the leading electricity infrastructure players across renewable and transmission segments, BESS projects are one of the focus areas for IndiGrid. Over the last few years, we have, on a pilot basis, built capabilities to undertake BESS projects at our Dhule and Kallam Substations, thereby enabling us to undertake standalone BESS projects,” said Harsh Shah, the Chief Executive Officer of IndiGrid.</p>
<p>With a year-long construction period, the project will primarily be used for energy time-shift (arbitrage) and ancillary services such as frequency support capacity upgrade deferral and resource adequacy.</p>
<p>Earlier this year, the company <a href="https://www.mercomindia.com/indigrids-q1-fy24-profit-marking-29-yoy-growth" target="_blank" rel="noopener">recorded</a> a profit of ₹1.07 billion (~$13 million) for the first quarter of the financial year 2024, a year-over-year increase of 28.8% from ₹830.72 million (~$10 million). The company’s portfolio includes 17 operating power projects consisting of 46 transmission lines with more than ~8,468 ckms length, 13 substations with 17,550 MVA transformation capacity, and 676 MW<sub>dc</sub> of solar generation capacity. IndiGrid has assets under management of over ₹270 billion ($3.24 billion).</p>
<p>In September, the Union Cabinet <a href="https://www.mercomindia.com/cabinet-approves-gap-funding-for-battery-energy-storage-projects" target="_blank" rel="noopener">approved</a> viability gap funding (VGF) for the development of the BESS program with an initial allocation of ₹94 billion (~$1.1 billion), which includes budgetary support of ₹37.6 billion (~$452 million). The VGF aid can potentially offset as much as 40% of the project’s capital costs, contingent upon the projects being finalized and operational within an 18 to 24-month timeframe.</p>


IndiGrid Bags Contract for 40 MWh BESS Project in Delhi

<p>Mahindra Susten emerged as the lowest (L1) bidder in the 20 MW solar with battery energy storage system (BESS) auction conducted by Neyvveli Lignite Corporation (<a href="https://www.nlcindia.com/new_website/index.htm" target="_blank" rel="noopener noreferrer">NLC</a>) India.</p>
<p>Mahindra Susten quoted a project cost of ₹2.988 billion (~$45.6 million) to develop the 20 MW solar project along with the required BESS of 28 MWh. The company quoted ₹1.788 billion (~$27.3 million) as the cost of engineering procurement and construction (EPC) and ₹1.2 billion (~$18.3 million) as the cost of operation and maintenance (O&amp;M) of the project.</p>
<p>An official in the contracts department of NLC India confirmed that the financial bids have been received by NLC India and as of now, Mahindra Susten is the lowest (L1) bidder, followed by Adani, Sterling &amp; Wilson, TBEA and Marine Electricals.</p>
<p><a href="https://mercomindia.com/wp-content/uploads/2017/10/Bidders-for-NLC-Indias-20-MW-Solar-Projects-with-BESS-in-Andaman-and-Nicobar.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-7897" src="https://mercomindia.com/wp-content/uploads/2017/10/Bidders-for-NLC-Indias-20-MW-Solar-Projects-with-BESS-in-Andaman-and-Nicobar.png" alt="Bidders for NLC India's 20 MW Solar Projects with BESS in Andaman and Nicobar" width="542" height="295" srcset="https://cms.mercomindia.com/wp-content/uploads/2017/10/Bidders-for-NLC-Indias-20-MW-Solar-Projects-with-BESS-in-Andaman-and-Nicobar.png 542w, https://cms.mercomindia.com/wp-content/uploads/2017/10/Bidders-for-NLC-Indias-20-MW-Solar-Projects-with-BESS-in-Andaman-and-Nicobar-300x163.png 300w" sizes="auto, (max-width: 542px) 100vw, 542px" /></a></p>
<p>The NLC India official also said that, the management is surprised there were four bids below ₹5 billion (~$76.3 million) mark for the tender, which is unexpected as BESS system cost is high. The official also added that when completed this will be one of the largest solar generating facilities to deploy BESS system globally.</p>
<p>Adani quoted a project cost of ₹3.561 billion (~$54.4 million). This includes ₹2.74 billion (~$41.8 million) EPC cost and ₹821 million (~$12.5 million) as O&amp;M cost. Sterling &amp; Wilson quoted ₹4.459 billion (~$68.1million), which includes ₹3.33 billion (~$50.8 million) as EPC cost and ₹1.129 billion (~$17.2 million) as O&amp;M cost. TBEA quoted a project cost of ₹4.568 billion (~$69.7 million), which includes ₹2.859 billion (~$43.7 million) as EPC cost and ₹1.709 billion (~$26.1 million) as O&amp;M cost.</p>
<p>Marine Electricals was the other company to bid around the ₹ 5 billion (~$76.3 million) mark. The company quoted a project cost of ₹5.092 billion (~$77.7 million), inclusive of ₹2.475 billion (~$37.8 million) EPC cost and ₹2.617 billion (~$40 million) O&amp;M cost.</p>
<p>The NLC official said, in all 10 firms participated in the auction. We have conducted the auction and discovered the L1 bidder, but this does not mean the culmination of the auction; the contracts haven’t yet been awarded. The NLC will take some time to consider the viability and project feasibility, and then award the BESS contracts. The developers have to wait as of now, added the NLC India official.</p>
<p>NLC India had tendered the projects in Andaman and Nicobar in <a href="https://mercomindia.com/nlc-tenders-20-mw-ac-solar-bess-andaman-nicobar/" target="_blank" rel="noopener noreferrer">May 2017</a>. This is the first major BESS tender for which financial bids have been received. The project completion timeframe is 18 months from the date of letter of award.</p>


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