Ever tumbling panel prices have brought a fresh round of low solar power tariffs after an earlier 1 GW super tender was annulled in the state. The latest reverse auction was oversubscribed by almost 50%.

The Ministry of New and Renewable Energy has reevaluated the solar potential of the region, in the light of steepling falls in the cost of generating solar electricity. The big push will start with 7.5 GW of new capacity, with a request for selection expected within a fortnight.

India’s largest power company is set to make a statement of intent with procurement, and has set a first round bid ceiling of Rs2.67 for the reverse bidding auction. Successful bidders will secure a one-year PPA which can be extended by six months.

Supervising authority has given the state distribution company the green light to conduct three 500 MW solar tenders. The move marks the first procurement exercise held by TANGEDCO in almost 12 months.

India has become the world’s largest market for new renewable energy auctions and the second-largest destination for attracting clean energy investments, according to the latest Climatescope 2018 report by BloombergNEF.

After a downbeat second quarter this year, India’s solar industry perked up in Q3 with solar exports jumping 223% and imports increasing 38% over the Q2 CY 2018 numbers.

CDC Group Plc., a U.K. government-owned development finance institution, plans to raise US$100 million by selling its stake in Ayana Renewable Power – a renewable energy platform it recently launched in India.

Only three bidders have come forward for huge manufacturing-linked solar and solar-wind hybrid procurement exercises. The separate auctions – originally intended to drive 12.5 GW of new generation and 5 GW of manufacturing capacity – prompted figures of just 3.05 GW and 600 MW, respectively.

Around US$1 billion is expected to be raised in the sale of up to 30% of Sterling & Wilson’s solar engineering arm. The funds will come from a pre-listing stake sale followed by an initial public offering (IPO), and will be used to reduce the debt of the 153-year-old conglomerate.

The Solar Energy Corporation of India’s (SECI) much-hyped 10 GW manufacturing-linked tender, which has already been postponed six times, received a very tepid response on Monday, the last submission date.