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Sahaj Solar and Teerth Gopicon form subsidiaries for solar projects

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Sahaj Solar Limited has established a wholly-owned subsidiary, Veracity Renewable Energy Private Limited, to develop solar power projects in India.  The new entity will generate, accumulate, distribute, and supply solar power for its use or sale to governments, state electricity boards, power transmission and distribution intermediaries, industrial units, and consumers. Similarly, Teerth Gopicon Private Limited has incorporated a wholly-owned subsidiary, Teerth RE 1 Private Limited, to implement rooftop solar power projects in Rajasthan.  The subsidiary…

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Jupiter International secures Rs 30 million rooftop solar order in West Bengal

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Jupiter International Limited has received an order worth over Rs 30 million from the West Bengal Khadi & Village Industries Board (WBKVIB). The project involves the supply, installation, and maintenance of rooftop grid-connected solar photovoltaic (PV) power plants across 23 locations in West Bengal. The total capacity will be approximately 0.5 MW. The project is expected to be completed within 365 days from the start date.

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Hartek Group secures rooftop solar contract for Hindustan Coca-Cola plant

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Hartek Group’s commercial and industrial rooftop solar division has secured an 8 MW solar EPC contract in Jammu & Kashmir.  The project, awarded by Kandhari Beverages Private Limited, a bottling plant of Hindustan Coca-Cola, is under execution and expected to be commissioned within the current quarter. The project includes engineering and design, procurement of solar modules, inverters, and associated equipment, testing and commissioning, and operations and maintenance. It is projected to generate one million units…

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MNRE issues guidelines for payment security and CFA under PM Surya Ghar

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The Ministry of New and Renewable Energy (MNRE) has released guidelines for two components of the PM Surya Ghar: Muft Bijli Yojana (PMSGMBY), targeting rooftop solar installations for eligible residential consumers. The program runs until March 31, 2027. Key highlights: Central financial assistance (CFA): Applicable for rooftop solar systems installed on rooftops, terraces, balconies, and building-integrated photovoltaics. Eligible systems must use approved metering mechanisms like group and virtual net metering if allowed by DISCOMs. Capacity…

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Federal Bank and Ecofy collaborate to finance MSME solar projects

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Federal Bank has partnered with Ecofy, a green-focused NBFC backed by Eversource Capital, to offer financing solutions for MSMEs investing in rooftop solar installations. The program targets financing 3,600 kW of rooftop solar annually, focusing on installations in the 20-200 kW range, a segment often underserved by lenders.  This initiative is expected to reduce over 2,500 tonnes of carbon emissions each year while addressing MSMEs’ financial barriers. Federal Bank, with MSME loans comprising over 20…

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EIB grants €225 million loan for Prologis solar energy project

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The European Investment Bank (EIB) has approved a €225 million framework loan to Prologis to support its initiative to generate electricity from low-carbon sources.  The project involves installing rooftop solar panels and battery storage systems at Prologis logistics centers across Western and Central Europe, including Germany, Belgium, Italy, France, Spain, the Netherlands, and Poland.  The initiative aims to reduce carbon emissions, enhance energy security, and enable surplus energy to be stored or sold to the…

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Mizoram launches rooftop solar initiative under PM-SGMBY

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Mizoram’s power and electricity minister has introduced a new initiative under the PM-Surya Ghar Muft Bijli Yojana (PM-SGMBY), enabling households to install rooftop solar systems with substantial government subsidies.  The scheme is available exclusively to Indian citizens who are current electricity consumers with good payment records and is limited to private residential properties. In partnership with 12 authorised vendors, the state government facilitates installations, with financial support available through national banks such as State Bank…

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SolarSquare secures $40 million to expand rooftop solar operations

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Mumbai-based rooftop solar company SolarSquare has raised $40 million in a Series B funding round led by Lightspeed, with Lightrock also participating.  Existing investors, including Elevation Capital, Lowercarbon, Rainmatter, and Gruhas Proptech, contributed as well. The funds will support SolarSquare’s expansion to over 50 cities from its current presence in 20.  Additional investments will focus on technology, talent acquisition, brand building, and developing an asset management technology stack for remote monitoring of residential solar systems….

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Solar Landscape raises $847 million for rooftop solar projects

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Solar Landscape, a US-based commercial and community solar developer, has raised $847 million in project investment and financing in 2024.  This funding will support the deployment of over 200 rooftop solar installations across the country.  Additionally, the company has secured contracts for developing solar projects on 40 million square feet of commercial and industrial rooftop space. The financing was raised through partnerships with 10 investors and counterparties, including KeyState Renewables, Silicon Valley Bank, Prologis, and…

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Teerth Gopicon wins Rs 2.37 billion contract for solar projects in Rajasthan

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Teerth Gopicon Private Limited has received a Letter of Award (LoA) worth Rs 2.37 billion from Rajasthan Renewable Energy Corporation Limited (RRECL) to set up 37 MW of rooftop solar photovoltaic (PV) power projects on government buildings in Baran and Pali districts.  The contract, awarded on December 7, 2024, includes 11 MW in Baran and 26 MW in Pali. The scope of the project includes the design, supply, erection, testing, and commissioning of the solar…