Monthly RE Update – November 2023

Monthly RE Update – November 2023

Tenders

New RFS Issued

  • In November 2023, 18 new renewable energy (RE) tenders with a cumulative capacity of 15,165 MW were issued. NTPC issued a tender for supply of 3000 MW firm and dispatchable power (FDRE) from ISTS-Connected RE power projects (Tranche-II) anywhere in India.
  • In addition, SECI floated an ISTS connected RE (FDRE-V) tender of 1000 MW.
  • SECI also issued a 1500 MW ISTS-connected solar tender and 1350 MW ISTS-connected Wind (Tranche XVI) tender.

Fig 1.1: New RE tenders issued in November 2023

Source: JMK Research

Table 1.1: RFS Issued

Tender Name

Technology

Tender Scope

Capacity (MW)

Other Details

Minimum CUF

Commissioning timeline from PPA signing (months)

Bid Submission Date

NTPC, 3000 MW, FDRE, ISTS-Connected RE Power Projects, Pan India, Oct 2023

RE

(Update document)

Project Development

3000

Earnest Money Deposit = [INR 11,58,000 x Solar component (MW) + INR 13,86,000 x Wind component (MW) + INR 4,80,000 x ESS component (MWh)].

40%

24 months-for project size not more than 1,000 MW. 30 months-for project size more than 1,000 MW.

27th-Dec-2023

SJVN, 1500 MW, ISTS connected Solar, Pan India, Oct 2023

Utility Scale Solar

Project Development

1500

EMD – INR 0.12 million

PBG – INR 2.90 million

19%

24

15th-Dec-2023

SECI, 1350 MW, ISTS-connected Wind (Tranche XVI), Pan India, Nov 2023

Wind

Project Development

1350

EMD – INR 1.26 million/MW

PBG – INR 3.16 million/MW

22%

24

10th-Jan-2023

NTPC, 1200 MW, ISTS connected Solar, Gujarat, Oct 2023

Utility Scale Solar

EPC

1200

EMD-for block 1(600MW): INR 0.16 million/MW

For block 2(1200 MW): INR 0.16 million/MW

6th-Dec-2023

NTPC, 1200 MW with green shoe option up to 300 MW, ISTS-connected Wind (EPC), Andhra Pradesh (Kurnool), Nov 2023

Wind

EPC

1200 MW with green shoe option up to 300 MW

28th-Dec-2023

NTPC, 1200 MW with green shoe option up to 300 MW, ISTS-connected Wind (EPC), Andhra Pradesh (Anantapur), Nov 2023

Wind

EPC

1200 MW with green shoe option up to 300 MW

 

27th-Dec-2023

NTPC, 1110 MW, ISTS-connected Wind (Tranche-II) (EPC), Gujarat, Nov 2023

Wind

EPC

1110

20th-Dec-2023

NTPC, 1080 MW, ISTS connected Wind (EPC) (III), Karnataka, Nov 2023

Wind

EPC

1080

4th-Dec-2023

SECI, 1000 MW, ISTS-connected RE Power (FDRE-V), Pan India, Nov 2023

Hybrid

Project Development

1000

EMD – INR [9,28,000*Solar Component (MW)+ 12,64,000*Wind Component (MW)] *D (Multiplication Factor)+3,66,000*ESS Component(MWh)

PBG – INR [23,20,000*Solar Component (MW) + 31,60,000*Wind Component (MW)] *D (Multiplication Factor) +9,15,000*ESS Component (MWh)

Demand Fulfilment Ratio (DFR) of at least 90% on a monthly basis.

24

9th-Jan-2023

NTPC, 630 MW, Solar (EPC), Madhya Pradesh, Nov 2023

Utility Scale Solar

EPC

630

EMD -315 MW -INR 200 millionFor (2X315 MW) –INR 500 million

29th-Dec-2023

GUVNL, 500 MW, Solar (Phase XXII), Gujarat, Nov 2023

Utility Scale Solar

Project Development

500

EMD – INR 0.93 million/MW

PBG – INR 2.32 million/MW

17%

24

4th-Dec-2023

GUVNL, 500 MW, RE hybrid projects, Gujarat, October 2023

Hybrid

Project Development

500

Earnest Money Deposit = [INR 9,28,000 x Solar component (MW) + INR 12,64,000 x Wind component (MW)]

30%

24

28th-Nov-2023

SJVN, 300 MW, ISTS-connected Wind, Pan India, Nov 2023

Wind

Project Development

300

EMD –100 MW –INR 43 million

200 MW –INR 86 million

300 MW –INR 129 million

7th-Dec-2023

RECPDCL. 290 MW, Solar, Pan India, Nov 2023

Utility Scale Solar

Project Development

290

EMD-INR 0.9 million/MW/project

PBG-INR 1.75 million/MW/project

22%

18

4th-Dec-2023

GUVNL, 250 MW/500 MWh, BESS (Phase II), Gujarat, Nov 2023

BESS

Project Development

250 MW with 500 MWh

EMD – INR 0.74 million/MW

PBG – INR 1.85 million/MW

Minimum system availability of 95% on annual basis

18

6th-Jan-2023

Coal India, 35 MW, Solar (EPC), West Bengal, Nov 2023

Utility Scale Solar

EPC

35

EMD –INR 5 million

24.37%

12

8th-Dec-2023

UPJNL, 10 MW, Solar (EPC), Uttar Pradesh, Nov 2023

Utility Scale Solar

EPC

10

EMD – INR 6.2 millionPBG – 10% of the project cost

16

26th-Dec-2023

BSPGCL, 10 MW, Floating Solar, Bihar, Nov 2023

Floating Solar

Project Development

10

EMD – INR 12 million/MW

PBG – INR 3 million/MW

19%

12

15th-Dec-2023

PBG: Performance Bank Guarantee

EMD: Earnest Money Deposit

Source: JMK Research

Note: Hybrid tenders include FDRE and BESS tenders.

Auction Completed

In November 2023, about 4600 MW RE tenders were auctioned and allotted to various developers.

Winners in the latest RE tenders

Source: JMK Research

Tender Name

Capacity Tendered (MW)

Capacity Allotted (MW)

Minimum CUF

Commissioning timeline from PPA signing (months)

Winners Details

NHPC, 3000 MW, Solar, Pan India, June 2023

3000

3000

17%

18

· Solairdirect Energy (Engie)- 250 MW (INR 2.52/kWh)· Avaada – 1000 MW (INR 2.53/kWh)· Hazel Hybren (Mahindra)- 300 MW (INR 2.53/kWh)· Jakson – 400 MW (INR 2.53/kWh)· Sprng Energy – 250 MW (INR 2.53/kWh)· Green Infra Wind Energy (Sembcorp)- 300 MW (INR 2.53/kWh)· Apraava Energy – 250 MW (INR 2.53/kWh)· Hinduja Renewables – 250 MW (INR 2.53/kWh)

SJVN, 1500 MW, RE with ESS (FDRE), Pan India, June 2023

1500

1500

· Acme – 250 MW (INR 4.38/kWh)· Juniper Green – 200 MW (INR 4.38/kWh)· Tata Power – 200 MW (INR 4.38/kWh)· Solarcraft Power India – 150 MW (INR 4.39/kWh)· O2 Power – 80 MW (INR 4.39/kWh)· Hero Solar Energy -120 MW (INR 4.39/kWh)· ReNew – 184 MW (INR 4.39/kWh)

RECPDCL, 100 MW, Wind, Pan India, July 2023

100

100

22%

18

· Juniper Green – 50 MW (INR 3.58/kWh)· Avaada – 50 MW (INR 3.59/kWh)

Source: JMK Research

Installed Capacity

From January to October 2023, about 8.7 GW solar capacity and 2.36 GW wind capacity was added in the country, taking the cumulative RE capacity to 132.13 GW.

In October 2023, a combined total of 345 MW of solar and wind capacity was added.

Figure 2.1: RE installations in October 2023

Source: MNRE, JMK Research

Note: Solar includes utility scale solar, rooftop solar and off grid/distributed solar segments

State wise solar and wind installed capacity in October 2023

Tamil Nadu installed the maximum solar capacity of 82 MW followed by Maharashtra (61 MW) in October 2023. While Gujarat added the maximum wind capacity of 77 MW this month.

Figure 2.2: State wise solar and wind installed capacity in October 2023

Source: MNRE, JMK Research

Projects

Key announcements that were made during the month were:

  • NTPC has commissioned the 50 MW wind project in Gujarat under SECI’s 1200 MW (Tranche XII) wind tender. NTPC won the 200 MW wind capacity under the respective at a tariff of INR 2.89/kWh.
  • Ciel & Terre India commissioned a 10.765 MWp floating solar plant for Tata Steel in Jamshedpur, Jharkhand. This is India’s first floating solar project within a steel power company.
  • SJVN received a Letter of Intent from UPCL for 200 MW of Green Energy at INR 2.57 per Unit from 1000 MW Bikaner Solar Project in Rajasthan. The power generated from the project will serve government entities directly or through distribution companies.
  • In addition, SJVN has signed a pact with SECI to supply 200 MW of wind power under SECI’s 1200 MW Wind (Tranche XIV) tender at a tariff of INR 3.24/kWh. With the allotment of this project, the wind portfolio of SJVN now stands at 497.6 MW.
  • Suzlon announced the order of the 3 MW product series for the development of a 50.4 MW wind power project for Juniper Green Energy Private Limited. The project is located in Gujarat and is expected to be commissioned in 2025.
  • Roofsol Energy secures 11.53 MWp rooftop Solar Project at Sharmanji Yarns Pvt Ltd in Ludhiana.
  • Tehri Hydro Development Corporation (THDC) has partnered with Karnataka Power Corporation Ltd and Karnataka Renewable Energy Development Agency (KREDA) to develop 3270 MW of clean energy projects in Karnataka. According to the agreement, the RE projects will include ground-mounted solar, floating solar projects, and hybrid projects. Pumped hydro projects are the primary focus of this initiative, totaling 3.27 GW.
  • KPI Green Energy secures new orders of 6.50 MW and 5.70 MW respectively for the implementation of solar power projects in the Captive Power Producer (CPP) segment. These projects are scheduled for completion in the financial year of 2023-24.
  • Vibrant Energy is planning to set up a 198 MW wind farm project for e-commerce major Amazon in Maharashtra. The project is expected to be commissioned by early 2025.
  • Waaree energies bags supply of 200 MW solar module contract with engie, India. The project will be located in Gujarat. Waaree will commence supplying 545 Wp bifacial modules in November 2023, with the project slated for completion by February 2024.

Monthly RE Generation

In November 2023, Renewable energy sources generated 11,094 MU, which is 18% lesser than the RE generation in October 2023. Solar and Wind generation decreased by around 24.8% and 6.8% respectively on month-on-month basis, in November 2023.

Figure 3.1: Source-wise Renewable Energy Generation (MU) – India

Source: CEA, JMK Research

Investments/ Deals

In November 2023, about $167 million was invested in the RE sector in India. The key investments during the month were:

  • Radiance Renewables secured a green loan project finance facility with $90 million jointly arranged by Axis Bank and Standard Chartered Bank. The funds will be used to develop its 150 MW commercial & industrial (C&I) solar project in Maharashtra.
  • IREDA secured an equity investment of $77 million in the renewable energy sector from anchor investors including Goldman Sachs, Integrated Core Strategies (Asia), Societe Generale, GAM Star Emerging Equity, BNP Paribas Arbitrage, Moon Capital Trading, and Copthall Mauritius.

Table 4.1: Investment and deal in November 2023

Company Name

Deal Type

Sector

Investor

Deal value

Radiance Renewables

Debt

Solar

Axis Bank and Standard Chartered Bank

$90 million

IREDA

Equity

Renewable energy

58 investors

$77 million

Source: Industry news articles, JMK Research

Other important announcements that were made during the month were:

  • Inox Wind Energy Ltd (IWEL) has raised INR 800 crore through the sale of equity shares of Inox Wind. The sale has been made through block deals on the stock exchanges. The funds raised will be infused into Inox Wind Ltd (IWL) and utilized for the repayment of IWL’s external debt.
  • Engie India, the India arm of the French energy giant, is planning to invest about Rs 3,500 crore for its 700 MW renewable energy projects slated to be commissioned by 2025. For 400 MW, the company plans to spend Rs 2,000 crore of capex and for 300 MW it can vary from 1000-1500 crores. One project is going to be set up in Gujarat and the other is in Rajasthan.
  • AM Green, a hydrogen and ammonia producer owned by the founders of Indian renewable company Greenko Energy Holdings, is planning to raise around $1 billion to fund its growing business. The firm is working with an adviser on fundraising to bolster its ability to produce green hydrogen and other chemical compounds.
  • Infrastructure investors Actis and Edelweiss, along with Malaysian state oil company Petronas, are in discussions to acquire a 185 MW solar asset portfolio in India. The assets, owned by Finnish utility Fortum and co-investors, are valued at a minimum of $150 million. The buyers are currently conducting due diligence on the solar assets, with final bids anticipated soon.
  • SEBI Approves IPOs for Fedbank Financial Services, IREDA, EPACK Durable, and Suraj Estate Developers:
    • IREDA- Up to 40.31 crore fresh issue and up to 26.88 crore equity shares via offer for sale (OFS) by the President of India through MNRE.
  • Enel Group is considering selling its entire renewable energy business in India and has hired HSBC for the deal. The equity value of the proposed deal could be around $300 million. Enel Green Power India’s portfolio comprises 760 MW of operational wind and solar power assets and a development pipeline of 2 GW.
  • Shell Plc has mandated Ambit Group to conduct a valuation exercise before it sells a minority stake in the operational assets of Sprng Energy group. Shell acquired Sprng Energy in 2022 from Actis Llp at an enterprise value of $1.55 billion.
  • Ayana Renewable Power is looking to sell a majority stake of as much as 100% in the green energy company, targeting an equity valuation of around $2 billion. The shareholders are also seeking to raise around another $400 million as a primary equity infusion to finance the company’s growth.

GTAM Traded volume

The IEX traded a total of 10.3 MUs in GTAM in November 2023, which is 1.29 times higher than the volume traded in October 2023. The average trade price in IEX-GTAM for November 2023 was INR 6.2/kWh. This is about 26% lesser than the previous month’s price.

Figure 5.1: GTAM Traded volume and Price Trend

Source: IEX, JMK Research

Key Market Updates

Solar Manufacturing

Grew Energy plans to manufacture its first solar cell by December 2024

Grew Energy has officially adopted Topcon technology for its solar cells and is set to commence production with 6 GW of module capacity and 2.8 GW of cell capacity in Jaipur and Dholera, Gujarat, starting December 2023. The total investment for this project amounts to INR 6,000 crore, with approximately 60%-65% to be funded through debt. The remaining funding will be sourced from promoters, with efforts underway to secure an equity partner expected to contribute $100 million in the coming quarters.

AmpIn Energy to build 1.3 GW solar cell and module factory in Odisha

AmpIn Energy Transition plans to invest INR 3,100 crore ($372 million) in setting up about 600 MW+ of renewable energy projects in Eastern India and an integrated 1.3 GW solar cells and modules manufacturing facility in Odisha.

Axitec plans to set up 600 MW capacity pilot solar module lines in India

Axitec Energy India planned to set up a capacity of 300 MW in Gujarat and another 300 MW in Tamil Nadu. Production will start in the first quarter of 2024. The two plants will produce n-type TOPCon PV modules in bifacial glass-glass variants with power outputs of 580Wp-585 Wp.

Gujarat-based KOSOL Energie has added a new 1 GW production line

Gujarat-based KOSOL Energie has expanded its solar module capacity to 2.25 GW with the addition of a new 1 GW production line. The new 1 GW capacity is set to commence the production of TOPCon solar modules ranging from 580 Wp up to 715 Wp, by the end of December, in both mono-facial and bifacial variants.

Websol will start 600 MW of solar cell line production in January 2024

Websol Energy Systems announced that its new 600 MW mono PERC cell line and 550 MW module line will start commercial production in January 2024. The company said the process of installation and commissioning of machinery has already advanced significantly and the facility is expected to begin its trial run in December this year. Websol plans an overall 1.8 GW mono PERC cell capacity, with 600 MW being commissioned in the first phase.

Green Hydrogen

Gentari partners with Greenko to produce green ammonia for export from India

Gentari collaborates with Greenko to produce and export Green Ammonia from India, Jointly investing in the Green Ammonia platform. Gentari and Greenko combine complementary capabilities across the green hydrogen value chain, encompassing renewable energy, electrolyzers, ammonia production, and marketing.

Avaada group collaborates with Gopalpur Port to establish Green Ammonia Storage facility in Odisha

Avaada Group has officially inked an agreement with Gopalpur Port Ltd to establish a state-of-the-art green ammonia storage facility at Gopalpur Port in Odisha. This strategic facility will play a pivotal role in enabling the export of green ammonia, a critical component in the global fight against climate change.

HPCL aims for 2.4 GW and 16,870 tonnes per annum green hydrogen by 2027-2028

Hindustan Petroleum Corp. Ltd (HPCL), a government-owned oil and natural gas company, plans a capex of around INR 75,000 crore over the next five years with around 25 to 30% earmarked for the renewables and the gas segment. To reduce its carbon footprint, the company targets to increase its renewable energy generation portfolio to 2.4 GW in 2027-28 from 184 MW as of 2022-23. Further, it targets 16,870 tpa (tonnes per annum) green hydrogen production capacity by 2027-28, from 3.5 tpa in 2022-23.

Deendayal Port gets 13 expressions of interest to develop green hydrogen hub

The Deendayal Port Authority in Kandla, Gujarat, has received 13 expressions of interest (EOI) to a global call for applications to develop a green hydrogen hub at the port. It was revealed by the Ministries that the EOI is for 7 million metric tons per annum (MMTPA) of green ammonia, catering to a global demand of 1.4 MMTPA of green hydrogen.

Trina Solar plans to supply electrolysers to IPPs

Chinese company Trina Solar is planning to sell electrolysers to Indian Independent Power Producers (IPPs) for the local production of green hydrogen. Trina Solar boasts a massive electrolyzer manufacturing unit in China with a capacity of GWh, and in the upcoming years, aims to expand its sales of electrolyzers to the global market.

Statkraft signs MoU with Deendayal Port Authority (DPA) for setting green hydrogen production plant

Statkraft, renewable energy developer, and the Deendayal Port Authority (DPA) has signed a non-binding Memorandum of Understanding (MoU) to work on suitable sites for setting up green hydrogen production at Kandla port, Gujarat. The agreement was signed at the Global Maritime India Summit 2023 in Mumbai on 17 October 2023.

Hartek Group to foray into green hydrogen

Hartek Group intends to enter the green hydrogen market with a focus on decarbonizing sectors such as refining, steel, and automobiles. The company will oversee the construction of these projects, acting as both an EPC (Engineering, Procurement, and Construction) provider and developer.

Gensol secures green hydrogen mobility station project in Ladakh

Gensol has secured the lowest bidder status for NHPC’s Kargil Green Hydrogen Mobility Station EPC project in Ladakh. Gensol will develop a 500kW grid-connected, ground-mounted solar power project that will assist energy to the hydrogen refueling station. The project is to be commissioned by the NHPC and completion of this project will take 12 months from the issuance of the work order.

Petronas and GIC to invest in green ammonia project in India

Malaysian energy giant Petroliam Nasional (Petronas) and Singapore’s sovereign wealth fund GIC will invest in a green ammonia project in India. The project will produce five million tonnes of green of ammonia a year in India by 2030.

Energy Storage

Tata Power receives the first set of BESS for the 120 MW Tata Project from Tata Autocomp

Tata Power has received the first set of Battery Energy Storage Systems (BESS) from TATA AutoComp and these BESS will be deployed at the construction of 120 MW Energy Storage Park in Chhattisgarh. The Li-Ion based BESS will be manufactured under its joint venture Tata AutoComp Gotion Green Energy Solutions Pvt. Ltd.

Deye to launch Manufacturing of Inverters & ESS in India Shortly

Deye is set to commence manufacturing of inverters and Energy Storage Systems (ESS) in India to contribute to achieving net-zero targets. The surging demand for energy storage in India, coupled with the growth of solar initiatives, has seen a substantial increase. Furthermore, the government has introduced more tenders for energy devices to support renewable energy projects.

Other Market Updates

India installs 8.5GW solar in the nine months of year 2023

India’s solar installations for the Jan-Sept period in 2023 stood at 8.5 GW, 25% less year-on-year. The 8.5 GW capacity addition included 5.06 GW of utility-scale solar, 3 GW of rooftop solar, and another 0.4 GW of off-grid solar. Utility-scale solar installations in the Jan-Sept. 2023 period (5.06 GW) was 84% down from 9.3 GW installed during the same period in 2022. Rooftop solar installations (3 GW), on the other hand, were 2.3 times up year-on-year.

Bundelkhand Expressway to become first solar expressway in UP

The Uttar Pradesh government plans to transform the Bundelkhand Expressway into the state’s first solar expressway. The government intends to establish solar power plants along the Bundelkhand Expressway under the PPP model, targeting the generation of 550 MW of solar power. The expected lifespan of this project is 25 years, with a payback period set at 10 to 12 years.

India expects to add 17GW of solar capacity in FY2024

India is projected to increase its solar capacity by 16 to 17 GW in FY 2024. Solar capacity additions reached 5.2 GW in the last seven months of FY24. However, despite a surge in tender activities over the past 18-24 months, totaling around 17 GW in FY22 and 31 GW in FY23. The reason behind this is the drop in module prices and ease of supply chain pressures.

Suzlon’s S144-3 MW series receives a listing on MNRE’s RLMM

Suzlon Group has announced the of listing its S144-3 MW series of wind turbines in the Ministry of New & Renewable Energy’s ‘Revised List of Models & Manufacturers’ (RLMM). Moreover, the RLMM listing covers Suzlon’s S144-3 MW series of wind turbines, which can be extended to 3.15 MW.

Adani Green Energy crosses 8.4 GW mark, becomes India’s largest RE company

Adani Green Energy Ltd (AGEL) has become India’s largest green energy company as it reached the 8.4 GW installed capacity mark. ReNew is closest with 8.3 GW, followed by Tata Power and Greenko Energies with close to 4 GW capacity each. NTPC has a 3.2 GW green energy capacity. AGEL’s is planning to commission between 2.8 GW to 3 GW in the current financial year (FY24), with a capital expenditure of approximately INR 14,000 crore.

ReNew Power to invest INR 44,000 crore by FY26

ReNew Power is targeting to invest around INR 44,000 crore till the end of FY26 to add up to 9 GW of RE capacity. The company, which has an installed capacity of 9.5 GW, is looking to invest both in wind and solar projects going forward that will require investments at the rate of about Rs 5.5 crore per MW. ReNew Power has signed power purchase agreements for 5.5 GW of projects, which will be commissioned by the end of FY25, while in the case of another 3.5 GW, it has won bids but PPAs are yet to be signed.

Comparing on m-o-m basis, price for global mono PERC modules have decreased by 7.8% in November 2023.

Figure 6.1: Solar Modules Price trends

Source: PVInfoLink, JMK Research

JMK Research carried out price survey from domestic suppliers for November 2023 and as per the responses received, the all-inclusive domestic module prices till project site (including freight charges, GST etc) for various categories are:

  • The November price of mono PERC 500 Wp modules was INR 21/Wp, down by 4.5% as compared to the price of modules in October.
  • The price for Polycrystalline 330 Wp modules was INR 20.3/Wp, which is about 4.8% less than the previous month’s price.
  • The price for Bifacial modules was INR 22.1/Wp in November, which is around 7.2% less than the price of modules in October.

Fig 6.2: Average Prices for Domestic Modules

Source: JMK Research

Note: Domestic module prices are all inclusive prices till project site including freight charges, GST, etc.

Policies and Regulations

Central Level Regulatory Updates

Policy Name

Issuing Agency

Date of Issue

Ministry of Power approves setup of re-routed overhead transmission lines in Rajasthan

MoP

24th-Nov-2023

Amendment to the Guidelines for Tariff Based Competitive Bidding Process for Procurement Power from Grid Connected Wind Power Projects

MoP

17th-Nov-2023

MNRE updates ALMM list with 3 new manufacturers

MNRE

16th-Nov-2023

CERC approves a tariff of INR 2.54/kWh for SECI’s 334 MW solar power project

CERC

05th Nov-2023

CEA issues an order seeking comments for the procedure to verify the captive status of generating plants

CEA

01st-Nov-2023

BEE issues procedure for compliance mechanism under the Indian carbon market

BEE

1st-Nov-2023

MNRE updated the ALMM list with a total enlisted capacity of 20,339 MW till Oct 2023

MNRE

27th-Oct-2023

CERC issues Central Electricity Regulatory Commission (Sharing of Inter-State Transmission Charges and Losses) Regulations (third amendment), 2020

CERC

26th-Oct-2023

State Level Regulatory Updates

Policy Name

Issuing Agency

Date of Issue

KERC changed the additional surcharge to INR0.7/kWh(50% waiver) from INR 1.48/kWh

KERC

17th-Nov-2023

Tamil Nadu issues an order to waive peak-hour electricity charges for MSME sector

TNERC

12th-Nov-2023

Maharashtra Electricity Regulatory Commission increased banking charges to 8%

MERC

10th-Nov-2023

Haryana issues draft for Solar Power policy 2023

HAREDA

07th-Nov-2023

HPERC issues final order with levelized tariff for Solar PV projects

HERC

04th-Nov-2023

Maharashtra Electricity Regulatory Commission(MERC) Introduces First amendment to Grid-Interactive Rooftop Renewable energy system regulations 2023

MERC

Nov-2023

West Bengal commission allows the extension of RPO targets of 2022-23 in the absence of 2023-24 RPO targets

WBERC

30th-Oct-2023

Maharashtra issued Green Hydrogen Policy 2023 sets an ambitious goal of 500 Kilotons per annum by 2030

Government of Maharashtra

17th-Oct-2023

Source: JMK Research

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