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					</table><p>Solar solutions company <a href="https://onixsolarenergy.com/" target="_blank" rel="noopener">Onix Solar Energy</a>, a subsidiary of <a href="https://onixrenewable.com/" target="_blank" rel="noopener">Onix Renewable</a>, has received an order worth ₹1.48 billion (~$16.54 million), from <a href="https://www.vikrangroup.com/" target="_blank" rel="noopener">Vikran Engineering</a> to supply 193,550 of 620 Wp non-Domestic Content Requirement (DCR) TOPCon solar modules.</p>
<p>Onix Solar will execute the order within three months of the receipt of the date of manufacturing clearance from Vikran Engineering.</p>
<p>In June this year, Onix Renewable <a href="https://www.mercomindia.com/onix-renewable-makes-open-offers-in-onix-solar-energy" target="_blank" rel="noopener">offered</a> ₹264 (~$3) per share to acquire 1.6 million equity shares of Onix Solar Energy for approximately ₹429 million (~$5 million).</p>
<p>Onix Renewable has delivered over 500 MW of projects, including wind, solar, storage, and hybrid systems. The company currently has a solar module capacity of 100 MW.</p>
<p>Many developers are <a href="https://www.mercomindia.com/india-added-2-8-gw-of-rooftop-solar-capacity-in-1h-2025" target="_blank" rel="noopener">opting</a> for non-DCR components, stating that they will need the same amount of investment, or sometimes, even less, when compared to DCR modules.</p>
<p>As of May 2025, solar installers <a href="https://www.mercomindia.com/urgent-measures-dcr-module-shortage-slows-surya-ghar" target="_blank" rel="noopener">reported</a> that DCR modules carry a premium of up to ₹12 (~$0.14) per watt over non-DCR modules. Many choose to proceed with non-DCR systems instead, accepting the loss of subsidy in exchange for quicker installations.</p>
<p>The average system cost of large-scale solar projects <a href="https://www.mercomindia.com/q3-2025-sees-cost-drop-in-large-scale-solar-systems-across-module-types" target="_blank" rel="noopener">remained</a> low in the third quarter of 2025, with cost reductions seen across all module technologies. Projects equipped with mono PERC DCR modules required roughly 24% more capital than those using non-DCR mono PERC modules.</p>
<p>In March this year, the Ministry of New and Renewable Energy <a href="https://www.mercomindia.com/government-updates-domestic-content-norms-for-solar-cells" target="_blank" rel="noopener">issued</a> the updated DCR norms for solar cells.</p>
<p>According to the revised guidelines, a solar cell based on crystalline-silicon technology will be considered domestically manufactured only if produced in India using an undiffused silicon wafer, commonly known as a black wafer. These wafers fall under Customs Tariff Head 3818, and all manufacturing processes used to convert them into solar cells must be carried out in India.</p>
<p>However, cells manufactured in India from an imported diffused silicon wafer, commonly called a blue wafer, will not qualify as domestically manufactured under MNRE programs.</p>


Onix Secures Order for 620 Wp TOPCon Modules from Vikran Engineering


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					</table><p><a href="https://onixrenewable.com/" target="_blank" rel="noopener">Onix Renewable </a>has won Solar Energy Corporation of India’s (<a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>) auction to supply 50,000 metric tons (MT) of green ammonia per annum under the Strategic Interventions for Green Hydrogen Transition (SIGHT) program (Mode-2A-Tranche-I).</p>
<p>Onix quoted a tariff of ₹52.50 (~$0.599)/kg to win the auction.</p>
<p>The green ammonia will be supplied to Gujarat Narmada Valley Fertilizers and Chemicals, in Bharuch, Gujarat, for ten years.</p>
<p>The tender was initially <a href="https://www.mercomindia.com/seci-invites-bids-for-green-under-sight-program/" target="_blank" rel="noopener">floated</a> in June 2024 and subsequently amended to increase the projects under its scope.</p>
<p>A consortium of SCC Infrastructure and InSolare Energy <a href="https://www.mercomindia.com/scc-infrastructure-wins-secis-70000-tpa-green-ammonia-auction/" target="_blank" rel="noopener">won</a> the previous auction at a tariff of ₹53.05 (~$0.605)/kg.</p>
<p>Onix must establish production facilities to supply green ammonia to SECI and secure all approvals and permits, including those for land. It must ensure production, storage, and delivery to the delivery point.</p>
<p>The company must also identify land, construct and own the facility, and handle all logistics up to delivery.</p>
<p>The awarded capacity must be produced and supplied directly by the producer, as trading or arbitrage is not permitted. However, Onix can meet up to 10% of the annual capacity committed through third-party or other sources.</p>
<p>The green ammonia supplied can be produced using renewable energy sourced from either a co-located or remotely located project. The producer or a third party may own these projects. It may also procure renewable energy from the power exchanges.</p>
<p>The Union Cabinet <a href="https://www.mercomindia.com/cabinet-approves-%E2%82%B9197-billion-hydrogen-mission" target="_blank" rel="noopener">approved</a> the National Green Hydrogen Mission to facilitate demand creation, production, utilization, and export of green hydrogen with an initial outlay of ₹197.44 billion (~$2.3 billion).</p>
<p>A large portion of the funding, around ₹174.9 billion (~$1.99 billion), is earmarked for the SIGHT program. The rest of the outlay has been divided among other initiatives, including ₹14.66 billion (~$166.95 million) for pilot projects, ₹4 billion (~$45.55 million) for research and development, and ₹3.88 billion (~$44.18 million) towards other mission components.</p>


Onix Renewable Wins SECI’s 50,000 TPA Green Ammonia Auction


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					</table><p>Gujarat-based <a href="https://onixrenewable.com/" target="_blank" rel="noopener">Onix Renewable</a> has offered ₹264 (~$3) per share to acquire 1.6 million equity shares of Onix Solar Energy for approximately ₹429 million (~$5 million).</p>
<p>Onix Solar Energy is a subsidiary of Onix Renewable.</p>
<p>The offer represents 6.44% of Onix Solar Energy&#8217;s emerging voting share capital. Grow House Wealth Management is acting as the manager for this open offer.</p>
<p>This open offer followed Onix Solar Energy’s board of directors authorizing a preferential allotment of 18.5 million fully paid-up equity shares, each with a face value of ₹10 (~$0.12), on a preferential basis. These shares represent 73.2% of the emerging voting share capital of Onix Renewable.</p>
<p>Following the completion of all the underlying transactions and the open offer, the acquirer will become part of Onix Solar Energy’s promoter and promoter group.</p>
<p>The offer opens on August 1, 2025, and closes on August 14.</p>
<p>Onix Renewable has delivered over 500 MW of projects, including wind, solar, storage, and hybrid systems. The company currently has a solar module capacity of 100 MW.</p>
<p>Recently, Rama Steel Tubes <a href="https://www.mercomindia.com/rama-steel-tubes-invests-in-onix-renewables" target="_blank" rel="noopener">invested</a> in Onix Renewable’s 225 MW Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyaan (PM-KUSUM) program solar project. The project will be implemented by Onix Renewable’s special purpose vehicle, Onix IPP. The 225 MW project is part of 1,959 MW solar projects being developed by Onix Renewable across 252 locations in Maharashtra.</p>
<p>In January this year, Onix Renewable <a href="https://www.mercomindia.com/onix-renewable-floats-eoi-for-1-9-gw-solar-projects-in-maharashtra" target="_blank" rel="noopener">invited</a> expressions of interest to set up 1,959 MW ground-mounted, fixed-tilt solar projects across 252 locations in Maharashtra. The company would supply the solar modules and inverters for the projects.</p>
<p>The company, along with Jindal India Renewable Energy, NTPC Renewable Energy, Kolar Solar Power (Rays Power Infra), ReNew Solar Power, and Adani Renewable Energy Holding Nine (Adani Green), <a href="https://www.mercomindia.com/nhpc-1-2-gw-solar-plus-storage-auction" target="_blank" rel="noopener">won</a> NHPC’s auction to set up 1,200 MW inter-state transmission system-connected solar power projects with 600 MW/1,200 MWh energy storage systems.</p>


Onix Renewable Makes Open Offer for 6.4% Stakes in Onix Solar Energy

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