Vikram Solar Ltd has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) comprising a fresh issue worth up to Rs 15 billion and an offer-for-sale (OFS) of 17.45 million equity shares by its promoters. The face value of each equity share is Rs 10, with a reservation for eligible employees, offering them a discount in the subscription segment. The company may…
The Ministry of New and Renewable Energy (MNRE) has increased the solar module capacity on the Approved List of Models and Manufacturers (ALMM) by 2,084 MW, bringing the total to 56.5 GW. New entrants include Junna Solar System (94 MW), Sun N Sand Exim (69 MW), and Powertrac Solar Projects (47 MW). Waaree Energies, RenewSys India, and Goldi Solar expanded their capacities by 1,144 MW, 495 MW, and 235 MW, respectively. Sunbond Energy, with a…
SJVN has issued a tender for the installation of 5.8 MW grid-connected rooftop solar power systems on Union Government buildings across several states, including Delhi, Madhya Pradesh, Uttar Pradesh, Haryana, Gujarat, Maharashtra, and Rajasthan. The project is part of the PM Surya Ghar: Muft Bijli Yojana and follows the Renewable Energy Service Company (RESCO) model. Bidders are required to submit Rs 5,900 as a document fee, Rs 5,000 plus 18% GST for bid processing, and…
The Ministry of New and Renewable Energy (MNRE) has introduced new guidelines to enhance the PM Surya Ghar scheme for rooftop solar installations. The updated measures aim to simplify the process by urging states to adopt online payment systems for fees such as application, load enhancement, meter testing, and commissioning, reducing the need for multiple visits to discom offices. MNRE will also incentivize innovation in rooftop solar projects with annual prizes, including Rs 10 million…
The Solar Energy Corporation of India (SECI) has issued a tender inviting bids to develop 1 GW of inter-state transmission system (ISTS)-connected solar power projects for Tranche XVIII. The deadline for bid submission is October 4, 2024. Bidders are required to submit an earnest money deposit of Rs 942,000 per MW, along with a document fee of Rs 50,000 and a non-refundable bid processing fee of Rs 20,000. Selected winners must provide a performance bank…
The central government has unveiled guidelines for the viability gap funding (VGF) scheme, allocating Rs 74.53 billion to support offshore wind energy projects along the Gujarat and Tamil Nadu coasts. The scheme designates Rs 68.53 billion for 1,000 MW of offshore wind capacity and Rs 6 billion for port infrastructure. The Ministry of New and Renewable Energy will oversee the scheme, with Solar Energy Corporation of India Limited (SECI) managing applications, awards, and progress. The…
The Solar Energy Corporation of India (SECI), under the Ministry of New and Renewable Energy (MNRE), has issued a tender for the development of a 500 MW offshore wind project in the Gulf of Khambhat, Gujarat. Bids are due by 12 December, with pre-bid meetings scheduled for 22 October. The project has a completion deadline of 48 months. The selected developer will build, own, and operate the wind farm, entering a 25-year power purchase agreement…
Gautam Solar plans to establish a 2 GW solar cell manufacturing plant with an investment of Rs 10 billion. The facility, part of the company’s strategy to meet the growing demand for renewable energy, will help Gautam Solar comply with the Ministry of New and Renewable Energy’s ALMM guidelines, promoting locally manufactured components for government-subsidized projects. The company has acquired a 60-acre site in Bhiwani, Haryana, and aims to boost its competitiveness by producing high-quality,…
Gujarat ranks first in India for wind power generation, producing 12,132 MW, according to state climate change minister Mulu Bera. As of July 31, the state has installed wind power projects with a total capacity of 47,075 MW, contributing 25.8% of India’s total wind energy production. The Gujarat government has set a target to generate 100 GW of power from conventional and renewable sources and is implementing various initiatives to achieve this goal. In recognition…
Himachal Pradesh has long been recognized for its abundant natural resources, particularly its potential for hydroelectric power generation. Despite this, the state faced challenges related to high electricity procurement costs. However, in recent years, Himachal Pradesh has reduced its electricity procurement cost from over Rs 9 per unit to approximately Rs 5.25 per unit. This significant reduction is a result of strategic decisions, policy reforms, and effective resource management. Here’s an in-depth look at how…
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