Torrent Power Issues Non-Convertible Debentures Worth ₹20 Billion

Punjab Cuts Power Tariffs for FY 2027 as ₹78.5 Billion Surplus Emerges

C&I Consumers a Key Driver of India’s Renewable Growth

Assam Retains Existing Power Tariffs for FY 2027 Despite Revenue Gap

Andhra Issues Draft Resource Adequacy Framework for Reliable Power Supply

POWERGRID to Raise ₹50 Billion Loan, Divest Stake in CTUIL

Sahaj Solar Approves UAE Subsidiary for 750 MW Solar Panel Facility

Daily News Wrap-Up: Energy Storage Tariff Drop Raises Project Execution Risks

TCPL Packaging to Procure Power from CleanMax’s 3 MW Solar Project

Madhya Pradesh Invites Bids from Consultants to Analyze DISCOM Subsidy Demands


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					</table><p>India’s standalone battery energy storage system tenders and storage-linked renewable energy auctions have seen bid prices <a href="https://www.mercomindia.com/execution-risks-loom-for-indian-battery-storage-developers-as-tariffs-drop-sharply" target="_blank" rel="noopener">fall</a> sharply, intensifying concerns over whether projects can be executed and, if so, whether they can meet the required quality standards at such aggressive tariffs.</p>
<p>India <a href="https://www.mercomindia.com/indias-solar-imports-up-34-in-q4-2025-exports-down-70-qoq" target="_blank" rel="noopener">imported</a> solar cells and modules worth over $1.12 billion (~₹100.2 billion) in the fourth quarter (Q4) of 2025, a 55.6% year-over-year (YoY) increase from $723.4 million (~₹61.1 billion), according to data from the Department of Commerce. In a quarter-over-quarter comparison, module and cell imports together increased by 34.4%, totalling over $837 million (~₹73 billion). Solar module imports rose 51.7%, while cell imports grew 30.5% from Q3 2025.</p>
<p>TrueRE Oriana Power <a href="https://www.mercomindia.com/truere-oriana-power-wins-epc-contract-for-dvcs-234-mw-floating-solar-project" target="_blank" rel="noopener">secured</a> the Damodar Valley Corporation’s (DVC) engineering, procurement, and construction contract to set up a 234 MW grid-connected floating solar project on the reservoir of DVC Maithon Dam in Jharkhand. The project is valued at approximately ₹11.81 billion (~$128.590 million). It must be completed within 18 months.</p>
<p>The Maharashtra Electricity Regulatory Commission (MERC) <a href="https://mercomindia.com/maharashtra-regulator-approves-2269-mw-of-solar-power-procurement" target="_blank" rel="noopener">allowed</a> Maharashtra State Electricity Distribution Company (MSEDCL) to proceed with competitive bidding for the procurement of 2,269 MW of distributed solar power under the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0 program.</p>
<p>The MERC <a href="https://www.mercomindia.com/maharashtra-regulator-approves-tariff-for-4-gwh-battery-storage-procurement" target="_blank" rel="noopener">approved</a> MSEDCL’s proposal to procure 2 GW/4 GWh battery energy storage capacity for 15 years, at a tariff of ₹165,998 (~$1,806)/MW per month. The approved capacity will be allocated among seven successful bidders: Mahati Industries, ArMee Infotech, Diwakar Renewable &amp; Infra, Bhilwara Energy, OPG Power Generation, Patanjali Ayurved, and Onward Solar Power.</p>
<p>The Gujarat Electricity Regulatory Commission <a href="https://mercomindia.com/gerc-allows-revisions-in-torrent-powers-200-mw-fdre-tender-terms" target="_blank" rel="noopener">partly</a> allowed a petition filed by Torrent Power seeking approval for deviations for the procurement of firm and dispatchable renewable energy with energy storage. The Commission approved two of the four deviations requested by the company.</p>
<p>The Rajasthan Electricity Regulatory Commission <a href="https://mercomindia.com/rajasthan-adopts-tariff-for-2-gwh-standalone-battery-storage-projects" target="_blank" rel="noopener">adopted</a> a tariff of ₹285,000 (~$3,106.52)/MW/month for 500 MW/2,000 MWh standalone battery energy storage systems. The tariff was discovered through the tender floated by Rajasthan Rajya Vidyut Utpadan Nigam. The projects will provide four-hour storage capacity.</p>
<p>Renewable solutions provider Sunsure Energy <a href="https://mercomindia.com/sunsure-to-supply-12-7-million-units-of-solar-power-to-auto-parts-firm-daeseung" target="_blank" rel="noopener">signed</a> a power purchase agreement (PPA) with Daeseung Autoparts India and Ilgahng Automotive to supply a cumulative of 12.7 million units of power annually from its 75 MW solar project in Tamil Nadu. The company has signed agreements to supply a total of 8 MW of solar power to Daeseung’s facilities in Tamil Nadu.</p>
<p>The Central Electricity Regulatory Commission <a href="https://www.mercomindia.com/cerc-rejects-sjvns-claim-on-delivery-point-in-solar-project-billing-dispute" target="_blank" rel="noopener">rejected</a> SJVN Green Energy’s petition seeking recognition of a different delivery point for electricity supplied from its 100 MW solar project at the Raghanesda Solar Park in Gujarat. The Commission held that payment obligations under the PPA with Gujarat Urja Vikas Nigam must be based on the energy certified in the state energy account issued by the Gujarat State Load Dispatch Centre.</p>
<p>In a move <a href="https://www.mercomindia.com/rajasthan-notifies-thermal-compensation-rules-amid-renewable-surge" target="_blank" rel="noopener">aimed</a> at supporting grid stability as renewable energy penetration increases, the Rajasthan Electricity Regulatory Commission issued a final order on compensation for part-load operation for thermal power generating stations below normative levels. The Commission ruled that thermal generating stations whose tariffs are determined under Section 62 or Section 63 of the Electricity Act will be compensated for degradation of station heat rate and auxiliary energy consumption, and consumption of additional secondary fuel oil due to loading below the normative plant availability factor.</p>
<p>Power Grid Corporation of India <a href="https://www.mercomindia.com/powergrid-invites-bids-for-100-mw-200-mwh-battery-storage-project-in-punjab-2" target="_blank" rel="noopener">invited</a> bids to set up a 100 MW/200 MWh battery energy storage system at the 220 kV Bhatinda substation in Punjab. This tender is part of a larger one issued this January to set up 250 MW/500 MWh standalone storage systems. Bids must be submitted by March 23, 2026. Bids will be opened on the same day.</p>
<p>PFC Consulting <a href="https://www.mercomindia.com/pfc-consulting-floats-tender-for-smart-meter-service-providers" target="_blank" rel="noopener">invited</a> bids for appointing Advanced Metering Infrastructure service providers for the installation of 125,000 smart meters across the Chennai, Kanchipuram, Villupuram, and Tiruvannamalai regions in Tamil Nadu under the Revamped Distribution Sector Scheme. The project includes the deployment of 90,000 single-phase low-tension smart meters and 35,000 three-phase whole-current low-tension smart meters for government and local-body services across the state.</p>
<p>UltraTech Cement, an Aditya Birla Group company, <a href="https://mercomindia.com/ultratech-cement-to-procure-solar-power-from-sunsures-14-mw-project" target="_blank" rel="noopener">signed</a> an energy supply agreement, share subscription, and a shareholders&#8217; agreement to source power from Sunsure Solarpark Thirty Eight’s 14 MW solar project in Dhule, Maharashtra. UltraTech will invest up to ₹67.2 million (~$727,859) to purchase 26.2% of the shares of Sunsure Solarpark Thirty Eight, a special purpose vehicle of Sunsure Energy incorporated to set up the solar project, which includes a battery energy storage system.</p>
<p>Tunisia’s Ministry of Industry, Mines, and Energy <a href="https://mercomindia.com/tunisia-invites-bids-for-300-mw-solar-plus-150-mw-540-mwh-battery-storage-project" target="_blank" rel="noopener">invited</a> bids to develop a 300 MW solar power project with a 150 MW/540 MWh battery energy storage system. The project will be developed under a concession agreement on a 440-hectare plot of land in Bazma, Kebili governorate. The last date to submit bids is October 14, 2026.</p>
<p>U.S.-based solar tracker provider FTC Solar’s revenue <a href="https://www.mercomindia.com/ftc-solars-q4-revenue-jumps-149-yoy-on-higher-demand-for-solar-trackers" target="_blank" rel="noopener">surged</a> 148.9% YoY to $32.9 million from $13.9 million in the fourth quarter of 2025. The revenue was above the midpoint of the company’s guidance range of $30 million to $35 million. Higher sales volumes and increased absorption were the primary drivers of the significant YoY improvement, which was partially offset by higher tariff costs.</p>


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