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CERC Rescinds Revocation of Renewable Projects’ Grid Connectivity

Month in a Minute: Top Headlines from the Indian Renewable Sector in July 2026

Solar Module Capacity Under ALMM Grows to 215.5 GW

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					</table><a href="https://pacepowersystems.com/" target="_blank" rel="noopener">Pace Digitek</a>, Hero Solar Energy (<a href="https://www.herofutureenergies.com/" target="_blank" rel="noopener">Hero Future Energies</a>), <a href="https://www.acmesolar.in/" target="_blank" rel="noopener">ACME Solar Holdings</a>, and JSW Neo Energy (<a href="https://www.jsw.in/energy" target="_blank" rel="noopener">JSW Energy</a>) were declared winners in Solar Energy Corporation of India’s (<a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>) auction to set up 1,200 MW Inter-State Transmission System (ISTS)-connected solar power projects with 600 MW/1,200 MWh energy storage systems (ESS) anywhere in India under Tranche XV.
Pace Digitek was awarded 100 MW at a tariff of ₹3.41 (~$0.0408)/ kWh. Hero Solar and ACME Solar quoted ₹3.42 (~$0.0410)/kWh to win 250 MW and 350 MW, respectively.
JSW Neo won 500 MW out of the quoted capacity of 600 MW at a tariff of ₹3.42 (~$0.0410)/kWh under the bucket-filling method.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/SECIs-1.2-GW-Solar-With-Storage-Projects-Tranche-XV-Auction-Result-1.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-71403 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/SECIs-1.2-GW-Solar-With-Storage-Projects-Tranche-XV-Auction-Result-1.png" alt="SECI's 1.2 GW Solar With Storage Projects (Tranche-XV) Auction Result" width="773" height="292" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/SECIs-1.2-GW-Solar-With-Storage-Projects-Tranche-XV-Auction-Result-1.png 773w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/SECIs-1.2-GW-Solar-With-Storage-Projects-Tranche-XV-Auction-Result-1-300x113.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/SECIs-1.2-GW-Solar-With-Storage-Projects-Tranche-XV-Auction-Result-1-768x290.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/SECIs-1.2-GW-Solar-With-Storage-Projects-Tranche-XV-Auction-Result-1-650x246.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/SECIs-1.2-GW-Solar-With-Storage-Projects-Tranche-XV-Auction-Result-1-624x236.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/SECIs-1.2-GW-Solar-With-Storage-Projects-Tranche-XV-Auction-Result-1-600x227.png 600w" sizes="auto, (max-width: 773px) 100vw, 773px" /></a>
The tender was <a href="https://www.mercomindia.com/seci-solar-projects-storage/" target="_blank" rel="noopener">floated</a> in March this year.
SECI will enter into a power purchase agreement (PPA) with the successful bidders to purchase solar power for 25 years.
The selected bidders must set up the projects on a build-own-operate basis and commission them within 24 months of the effective PPA signing date.
They must set up ISTS-connected solar power projects with ESS, including the transmission network up to the interconnection or delivery point, to supply solar power to SECI at their own cost.
Further, ESS of at least 0.5 MW/1 MW of project capacity should be installed as part of the project. It should be designed for interconnection with the ISTS/InSTS by the prevailing regulations.
All approvals, permits, and clearances required for setting up the project and/or transmission network, including those needed from the state government and local bodies, will be within the developers’ scope. They will be responsible for identifying land, installation, and project ownership and obtaining connectivity and necessary approvals and interconnections with the ISTS network.
The stated or adjusted annual Capacity Utilization factor (CUF) cannot be less than 17%. The developer must maintain generation to achieve annual CUF within + 10% and -15% of the declared value till the end of ten years.
Only modules from the Ministry of New and Renewable Energy’s Approved List for Models and Manufacturers must be used.
Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of the tender activity in real-time.

Pace, Hero, ACME, JSW Win SECI’s 1.2 GW Solar Plus Storage Auction

PACE Loan Group (<a href="https://paceloangroup.com/?utm_term=pace%20lenders&amp;utm_campaign=Website+Traffic+-+PLG+Home+Page+-+Search+Ads&amp;utm_source=adwords&amp;utm_medium=ppc&amp;hsa_acc=7872888068&amp;hsa_cam=18586586368&amp;hsa_grp=140201938977&amp;hsa_ad=627938602073&amp;hsa_src=g&amp;hsa_tgt=kwd-1829909188228&amp;hsa_kw=pace%20lenders&amp;hsa_mt=b&amp;hsa_net=adwords&amp;hsa_ver=3&amp;gclid=Cj0KCQiAnsqdBhCGARIsAAyjYjSPfJGzhhK5idSrCgzxiUXinRg6wMocnQ6z1W5MRYM5aelvYp7Cwp8aAn99EALw_wcB" target="_blank" rel="noopener">PLG</a>), a provider of Commercial Property Assessed Clean Energy (C-PACE) financing, closed an $8 million loan to finance a 4.8 MW carport-mounted solar project at 1000 Omega, a corporate office in Pittsburgh, Pennsylvania.
The project would be installed in the parking lot of the property to supply power to the building and sell excess power to the local grid. It is expected to save $378,407 annually on electricity bills.
PACE Loan Group financed the loan, which earned consent from a national life company.
“It&#8217;s yet another good example of how developers can use PACE to maximize efficiency under the new Inflation Reduction Act (IRA). PLG is increasingly seeing solar deals, like this one, come up due to the tax incentives offered by the IRA,&#8221; PLG CEO, Rafi Golberstein said.
C-PACE is a tool used to finance energy efficiency and renewable energy improvements on commercial properties. Real estate developers utilize C-PACE to obtain low-cost, long-term financing for sustainable building improvements, including solar panels.
C-PACE utilizes borrowed capital which is repaid over a twenty-to-thirty-year period via tax assessments.
Upwards of 2,900 commercial real estate projects have been funded by over $4 billion of C-PACE loans, the company said in a statement.
Sustainable Energy Fund, an organization dedicated to breaking down financial, educational, and regulatory barriers to a sustainable energy future, acted as a third-party administrator to Allegheny County for their C-PACE program.
According to Mercom’s 9M and Q3 2022 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2022-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, the large-scale project funding in the first nine months (9M) of 2022 came to $22.8 billion in 128 project funding deals, a 97% increase compared to $11.6 billion in 138 projects in 9M 2021.
Primergy Solar, a U.S.-based utility-scale and distributed solar and storage company recently <a href="https://cms.mercomindia.com/primergy-secures-75-million-from-rabobank-for-solar-and-storage-projects/" target="_blank" rel="noopener">closed</a> a $75 million revolving credit facility from Rabobank to be used in developing a pipeline of solar and storage projects.

PACE Loan Group Invests In 4.8 MW Solar Project in the US

The United States will provide India with $7.5 million to improve the national grid. The fund is provided by Department of Energy (DOE), United States Government, and will go towards running a joint U.S.-India five-year project that will help advance the development of the power grid.
The Indian Ministry of Science and Technology and industry partners will match DOE’s commitment, bringing the total fund amount to $30 million, stated a <a href="https://www.energy.gov/articles/energy-department-invests-75-million-improve-electric-grid-reliability-and-resiliency" target="_blank" rel="noopener noreferrer">DOE release</a>. The DOE release also stated, “This step furthers DOE’s collaboration with India under the U.S.-India Partnership to Advance Clean Energy (PACE).”
“This new consortium demonstrates U.S. and Indian commitments to ensuring access to affordable and reliable energy in both countries,” said U.S. Energy Secretary Rick Perry. “We know that continued grid innovation will promote economic growth and energy security in the United States and India,” added Mr. Perry.
The U.S.-India collaborative for smart distribution system with storage (UI-ASSIST) was selected as the new consortia for smart grid and energy storage under the U.S.-India Joint Clean Energy Research and Development Center (JCERDC).
To help pave the way to a more advanced distribution grid that will allow for greater use of distributed energy resources, such as microgrids, and energy storage, the new consortia will bring together experts from academia, DOE’s national laboratories, and industry. Together with their counterparts in India, the center will conduct research and deploy new smart grid and energy storage technologies that will modernize the grids of both nations to make them “smarter,” while increasing resilience and reliability.
India-U.S. collaboration has been increasing in the renewable energy sector.
Mercom <a href="https://mercomindia.com/opic-mnre-launch-20-million-us-india-clean-energy-finance-facility-initiative/" target="_blank" rel="noopener noreferrer">previously reported</a>, the Government of India and the Overseas Private Investment Corporation (OPIC), the U.S. government’s development finance institution, launched the US-India Clean Energy Finance (USICEF) Facility Initiative with $20 million (~Rs.1.36 billion) to initiate the flow of up to $400 million (~Rs.27.1 billion) in public and private financing for renewable power generation in India by 2020.

United States to Provide $7.5 Million for Enhancement of India’s Power Grid

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