SECI Announces Winners of 6 GWh Peak Power Supply Auction

IREDA’s Q1 Revenue Up 15% on Higher Loan Interest Accruals

ABRen Secures $1.6 Billion from MUFG to Fund Sprng Energy Acquisition

Coal India Seeks ₹7 Billion Term Loan for 750 MWh Battery Storage Project

GMIDC Tenders 150 MW Floating Solar Plus 150 MWh Battery Storage Project

GAIL Invites Bids to Augment 5 MW Solar Project in Rajasthan

PFC Consulting Awards Project to Evacuate 14 GW of Renewables in Gujarat

PFC Consulting Tenders Transmission Project for 400 kV Substation in Rajasthan

Grid India Issues New Procedure for Secure Operation of National Grid

Madhya Pradesh Lays Out Banking SOP for Green Energy Open Access Consumers


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					</table><p>Energy-intensive commercial and industrial consumers are <a href="https://www.mercomindia.com/solar-savings-turn-first-time-ci-buyers-into-repeat-customers" target="_blank" rel="noopener">expanding</a> solar capacity as rising grid tariffs, proven savings, easier financing, and sustainability targets strengthen the business case. Industry experts said repeat orders are shortening sales cycles, improving revenue visibility, and strengthening solar engineering, procurement, and construction order books.</p>
<p>Clean energy capacity adoption in the commercial and industrial segment has steadily increased over the years, thanks to the promise of stable electricity supply at tariffs lower than those offered by distribution companies. Mercom India is <a href="https://www.mercomindia.com/clean-energy-growth-opens-new-opportunities-across-the-value-chain" target="_blank" rel="noopener">hosting</a> a Renewable Energy Buyer and Seller Meet on August 20, 2026, at the Radisson Blu Plaza Hotel, Banjara Hills, Hyderabad, bringing renewable energy buyers and product and service providers to the same platform.</p>
<p>Solar power solutions can help textile manufacturing facilities <a href="https://www.mercomindia.com/rooftop-solar-project-to-help-textile-facility-save-%E2%82%B963-million-annually" target="_blank" rel="noopener">meet</a> high daytime electricity demand by tapping into their extensive roof areas to set up solar installations and limit grid electricity purchases. Uttar Pradesh-based GESL Spinners is among the textile companies in the country that are leveraging the benefits of rooftop solar installations to cut down on their grid exposure.</p>
<p>Powertrac Group, a renewable energy solutions provider, <a href="https://www.mercomindia.com/powertrac-to-build-10-gwh-battery-storage-manufacturing-facility-in-gujarat" target="_blank" rel="noopener">announced</a> plans to establish a 10 GWh battery energy storage manufacturing facility in Ahmedabad, Gujarat. The proposed manufacturing campus will span five acres and will integrate battery cell-to-pack production and pack-to-container assembly set-ups within a single facility.</p>
<p>The Gujarat Electricity Regulatory Commission <a href="https://www.mercomindia.com/gujarat-seeks-consultants-to-finalize-intrastate-gna-regulations" target="_blank" rel="noopener">invited</a> bids from consultancy firms to help finalize the Connectivity and General Network Access to the Intrastate Transmission System Regulations, 2026, and prepare the Statement of Reasons and other works incidental to the assignment. Bids must be submitted by September 7, 2026.</p>
<p>Germany’s Federal Network Agency (Bundesnetzagentur) <a href="https://www.mercomindia.com/germany-awards-2-13-gw-of-solar-projects-in-latest-auction" target="_blank" rel="noopener">awarded</a> 2,134.66 MW of solar projects under the July 2026 auction for ground-mounted solar power projects. A total of 261 bids received awards in the auction. The tendered capacity for the round was 2,134.57 MW.</p>


Daily News Wrap-Up: Solar Savings Drive Repeat C&I Demand


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					</table><p>The Solar Energy Corporation of India (SECI) <a href="https://www.mercomindia.com/seci-unveils-winners-of-1-gw-firm-and-dispatchable-renewable-energy-auction" target="_blank" rel="noopener">announced</a> the winners of the auction to supply 1 GW of Firm and Dispatchable Renewable Energy Round-the-Clock (FDRE-RTC) power from interstate transmission system-connected renewable energy projects (FDRE-RTC-Tranche-V).</p>
<p>The Ministry of New and Renewable Energy (MNRE) <a href="https://www.mercomindia.com/mnre-eyes-faster-green-energy-corridor-phase-iii-rollout-with-ppp-model" target="_blank" rel="noopener">structured</a> the Green Energy Corridor Phase III as a public-private partnership program under tariff-based competitive bidding, with private transmission service providers bearing construction and right-of-way risks and facing stricter performance-linked penalties.</p>
<p>The Gujarat Electricity Regulatory Commission <a href="https://www.mercomindia.com/gujarat-regulator-approves-%E2%82%B94-87-kwh-tariff-for-250-mw-fdre-procurement" target="_blank" rel="noopener">adopted</a> a tariff of ₹4.87 (~$0.0511)/kWh for the procurement of 250 MW of FDRE, integrated with energy storage systems. The Commission directed Torrent Power to execute the power purchase agreement with Torrent Green Energy (the successful bidder).</p>
<p>The Odisha Electricity Regulatory Commission <a href="https://www.mercomindia.com/odisha-issues-draft-rules-for-distributed-renewable-energy-systems" target="_blank" rel="noopener">issued</a> draft regulations to enable efficient integration of distributed renewable energy systems through multiple metering options, storage requirements, billing mechanisms, and grid connectivity standards across the state. Stakeholders must send their comments by August 31, 2026.</p>
<p>Automotive components manufacturer TBK India <a href="https://www.mercomindia.com/tbk-india-expands-rooftop-solar-capacity-after-strong-phase-1-returns" target="_blank" rel="noopener">expanded</a> the rooftop solar capacity at its facility in Shirval, Khandala, Maharashtra, to 1,024.2 kW. Both phases of the project were executed by B.U. Bhandari Energy.</p>
<p>had already <a href="https://www.mercomindia.com/tbk-india-expands-rooftop-solar-capacity-after-strong-phase-1-returns">experienced</a> the benefits of going solar when it commissioned a 750.2 kW rooftop solar project in 2022. It has now Solar solutions company Navgrun s <a href="https://www.mercomindia.com/navgrun-plans-1-2-gw-topcon-solar-wafer-and-cell-manufacturing-facility" target="_blank" rel="noopener">announced</a> its plans to establish 1.2 GW of annual manufacturing capacity for TOPCon G12R solar wafers and cells.</p>
<p>Electric two-wheeler manufacturer River Mobility <a href="https://www.mercomindia.com/river-mobility-raises-120-million-in-series-c-funding" target="_blank" rel="noopener">raised</a> $120 million (~₹11.4 billion) in a Series C funding round led by Elev8 Venture Partners and Claypond Capital.</p>
<p>Solar module manufacturer Vikram Solar <a href="https://www.mercomindia.com/vikram-solars-q1-revenue-up-38-yoy-profit-hit-by-higher-costs-of-goods" target="_blank" rel="noopener">reported</a> consolidated revenue from operations of ₹15.63 billion (~$164.2 million) in the first quarter (Q1) of the financial year (FY) 2027, a 38% year-over-year (YoY) increase from ₹11.34 billion (~$119.1 million).</p>
<p>Solar module and cell manufacturer Premier Energies <a href="https://mercomindia.com/surge-in-cell-module-production-boosts-premier-energies-q1-revenue-by-35" target="_blank" rel="noopener">reported</a> revenue of ₹24.63 billion (~$258.6 million) in Q1 of FY 2027, rising 35.25% YoY from ₹18.21 billion (~$191.18 million).</p>
<p>Wind energy solutions provider Inox Wind <a href="https://www.mercomindia.com/inox-winds-q1-fy-2027-revenue-slips-1-5-yoy-to-%E2%82%B98-14-billion" target="_blank" rel="noopener">reported</a> revenue from operations of ₹8.14 billion (~$85.5 million) in Q1 of FY 2027, down approximately 1.5% YoY from ₹8.26 billion (~$86.8 million).</p>
<p>The U.S. <a href="https://www.mercomindia.com/us-imposes-15-tariff-on-polysilicon-derivatives-sets-solar-import-prices" target="_blank" rel="noopener">announced</a> a 15% additional tariff on certain polysilicon products and set minimum import prices for polysilicon, wafers, and solar cells and modules, effective December 4, 2026, regardless of the country of origin.</p>
<p>Utility-scale energy storage firm Fluence Energy <a href="https://www.mercomindia.com/fluence-energys-q3-revenue-weaker-than-expected-due-to-production-delays" target="_blank" rel="noopener">posted</a> revenue of $649.8 million in Q3 of FY 2026, up 7.9% YoY from $602.5 million. The revenue missed analysts’ estimates by $161.27 million.</p>
<p>U.S.-based energy storage solutions provider Eos Energy Enterprises <a href="https://www.mercomindia.com/higher-storage-system-deliveries-drive-eos-energys-revenue-up-351-in-q2" target="_blank" rel="noopener">reported</a> revenue of $68.8 million in Q2 of 2026, a 351% YoY increase from $15.24 million. The growth was driven by a 207% increase in its Cube energy storage system deliveries.</p>
<p>China set a target to <a href="https://www.mercomindia.com/china-targets-3-5-tw-of-renewable-energy-capacity-by-2030" target="_blank" rel="noopener">increase</a> its total renewable energy generation capacity to around 3.5 TW by 2030 under its Renewable Energy Development Plan for the 15th Five-Year Plan period, according to the National Energy Administration. Annual renewable energy generation is targeted at approximately 6,000 TWh by 2030.</p>


Daily News Wrap-Up: SECI Announces Winners of 1 GW FDRE-RTC Auction


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					</table><p>The Ministry of New and Renewable Energy (MNRE) <a href="https://www.mercomindia.com/mnre-allows-commissioning-of-solar-projects-awaiting-almm-ii-exemption" target="_blank" rel="noopener">allowed</a> provisional commissioning of utility, captive, and commercial and industrial solar power projects installed before June 1, 2026, but not commissioned before that date, due to reasons beyond their control. Clarifying its earlier order, MNRE said the relaxation applies only to developers who have sought exemption from the Approved List of Models and Manufacturers (ALMM) List-II on the designated portal, and whose final decisions on such applications are awaited.</p>
<p>India’s renewable energy buildout is <a href="https://www.mercomindia.com/how-transmission-expansion-can-flip-indias-clean-energy-story" target="_blank" rel="noopener">entering</a> a phase where transmission readiness is becoming as critical as generation capacity. Industry stakeholders will get together to share their views on ‘Transmission Infrastructure: Expanding the Energy Highway for Clean Power’ during an insightful session to be held on July 2, Day 2 of the event, at 3:25 PM.</p>
<p>The Delhi High Court <a href="https://www.mercomindia.com/delhi-high-court-dismisses-discoms-plea-against-cag-audit" target="_blank" rel="noopener">dismissed</a> petitions filed by Delhi’s power distribution companies challenging a notice issued by the Government of the National Capital Territory of Delhi proposing that the Comptroller and Auditor General of India audit them. The court held that the Delhi government had only issued a show-cause notice seeking the companies’ response before any decision on the entrustment of the audit is taken.</p>
<p>The Gujarat Electricity Regulatory Commission <a href="https://www.mercomindia.com/gujarat-commission-rules-row-issues-qualify-as-force-majeure-events" target="_blank" rel="noopener">held</a> that right-of-way (RoW) issues qualify as force majeure events and allowed petitions seeking an extension of the scheduled commercial operation date for two wind projects. In orders in two separate petitions by Juniper Green’s wind projects of 70 MW and 50 MW, the Commission held that RoW issues and local resistance were events beyond the petitioners’ reasonable control and had affected project execution.</p>
<p>Gujarat Urja Vikas Nigam <a href="https://www.mercomindia.com/gujarat-tenders-900-mwh-battery-energy-storage-projects" target="_blank" rel="noopener">issued</a> a request for selection to set up 450 MW/900 MWh of battery energy storage systems in Gujarat, with viability gap funding supported through the power system development fund (Phase-IX). Bids must be submitted by July 13, 2026. Bids will be opened on July 17.</p>


Daily News Wrap-Up: MNRE Clears Solar Projects Awaiting ALMM-II Relief

<p>The Gujarat Electricity Regulatory Commission (<a href="https://www.gercin.org/">GERC</a>) has determined the average pooled purchase cost (APPC) for various licensees from the financial year (FY) 2014-15 to FY 2018-19.</p>
<p>The Indian Wind Power Association (IWPA) had filed a petition against the Gujarat Urja Vikas Nigam Limited (<a href="https://guvnl.com/guvnl/index.aspx">GUVNL</a>) and its subsidiary companies, Torrent Power Limited and MPSEZ Utilities Private Limited (MUPL) for the determination of the APPC for each year starting from FY 2009-10 in order to enable the wind generators of Gujarat to go for the renewable energy certificate (REC) mechanism.</p>
<p>The commission has come up with the new costs for the distribution companies that have been purchasing electricity at different prices from various sources. The commission has also stated that the APPC of distribution licensees should not exceed the APPC of the state. Now, since the Gujarat commission had already passed relevant regulations in March 2014, the commission said that the determination of APCC needs to be from FY 2014-15.</p>
<p style="text-align: center;"><a href="https://mercomindia.com/wp-content/uploads/2019/11/a-3.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-16538" src="https://mercomindia.com/wp-content/uploads/2019/11/a-3.png" alt="GERC" width="539" height="205" srcset="https://cms.mercomindia.com/wp-content/uploads/2019/11/a-3.png 539w, https://cms.mercomindia.com/wp-content/uploads/2019/11/a-3-300x114.png 300w" sizes="auto, (max-width: 539px) 100vw, 539px" /></a></p>
<p>“<em>Keeping the intent of the REC regulation, it is necessary to make a balance between the APPC rate added with the cost of REC component vis-a-vis the tariff of renewable sources; we are of the view that APPC of distribution licensees should not exceed the APPC of the state as a whole</em>,” the commission noted.</p>
<p><strong>How does APCC affect the REC mechanism?</strong></p>
<p>The pooled purchase cost of power to be taken into consideration under the REC mechanism has to be the average pooled purchase cost of power of the previous financial year, and the same has to be modified regularly.</p>
<p>When the pooled purchase cost is increased, the floor price of REC will come down as the floor and forbearance prices of RECs are subject to change at the expiry of each control period.</p>
<p>Accordingly, a wind power project under the REC mechanism will be viable only when the realization from the power component increases to compensate the reduction in REC prices.</p>
<p>The CERC determines floor price and forbearance price, referring to the APPC of various states.</p>
<p>The cash flow for the developers under the REC mechanism depends on the REC price discovered in the power exchange and APPC allowed to them by the local DISCOM in a state. In the event of the APPC is lower than what has been taken by CERC for the determination of the REC price band, there could be a viability gap for the REC developers, especially in cases where the price discovered in the power exchange is closer to the floor price. REC mechanism is an alternative to preferential tariff mechanism for the recovery of the cost and the same should be viable to renewable generators. The REC price discovered in the power exchange plus the APPC should enable the developer to recover their cost. The viability will be ensured if an investor gets at least the floor price for the REC and the APPC for the electricity component.</p>
<p><em>“It is, therefore, imperative that the APPC is determined by this commission for each year starting from FY 2009-10 in order to enable the wind generators in Gujarat to opt for REC mechanism as the tariff to be given to the power producers under the REC mechanism for the supply of the contracted wind energy must be the APPC of the distribution licensees in the previous financial year as determined by the commission annually,”</em> stated the commission.</p>
<p>Moreover, one of the respondents, Torrent Power, had contended that the APPC needs to be decided for the state as a whole and not distribution licensees wise. This was not acceptable to the commission as each licensee is operating in its license area independent of each other, and their cost of power purchase is distinct from each other considering the amount, source, fuel, price, etc.</p>
<p>“<em>Hence, in the commission’s opinion, it will be unfair to allow a single APPC for the state as a whole. Even the regulations of the GERC do not provide to allow single APPC for the state as a whole,”</em> the order stated.</p>
<p>Earlier this year, the CERC had <a href="https://mercomindia.com/nldc-rec-gujarat-wind-developer/">issued an order</a> in favor of wind developer Enn Enn Corp Limited, which had filed a petition against the rejection of its request for RECs by the National Load Despatch Center. The wind developer had appealed against the rejection of RECs between April and November 2017. Enn Enn Corp has three wind power generating stations in Gujarat with a cumulative installed capacity of 12.6 MW.</p>
<p>In April 2019, the <a href="https://mercomindia.com/cerc-requests-nldc-recs-wind/">central commission</a> passed a similar order when it asked the national load despatch center to issue RECs for a 1.5 MW wind energy project. This petition was filed by Eingur Wind Energy Private Limited, which had approached the commission about a delay of 72 days in applying for the revalidation of accreditation as an eligible entity under the REC mechanism. NLDC and Tamil Nadu Transmission Corporation Limited were the respondents in this case.</p>
<p>Image credit: Stan Shebs [CC BY-SA <a href="https://commons.wikimedia.org/wiki/Wind_power#/media/File:Tehachapi_wind_farm_3.jpg" target="_blank" rel="noopener noreferrer">3.0</a>]</p>


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