India

The gradual phase-out of ISTS charges waiver for solar and wind projects–75% for projects commissioned by June 30, 2026, 50% by June 30, 2027, and 25% by June 30, 2028, and zero thereafter–is bound to push up final price for end consumers. The shift could increase tariffs by INR 0.40–0.50 per unit

The draft order for the implementation of the Approved List of Models and Manufacturers (ALMM) for wafers and ingots clearly indicates the government’s commitment to advancing domestic solar PV upstream integration and bridging the capacity gap between modules, cells, and wafers. Issuing this order nearly three years before its effective date and one year before the implementation of ALMM List-II will allow solar manufacturers to plan for wafer capacity alongside their upcoming cell capacities.

The RP Sanjiv Goenka Group is set to establish a 3 GW solar cell manufacturing facility, along with a 60 MW captive solar and energy storage system, with a proposed investment of INR 3,000 crore.

Serentica Renewables has signed a power purchase agreement (PPA) with the Solar Energy Corp. of India (SECI) for 100 MW of round-the-clock (RTC) renewable power. To ensure the RTC power supply, it will deploy a mix of wind and solar power capacities, backed with battery energy storage systems.

The Central Electricity Regulatory Commission (CERC) is set to release final guidelines for virtual power purchase agreements (VPPAs), potentially unlocking financing opportunities for over 40 GW of uncontracted renewable energy projects across the country.

Emmvee Photovoltaic Power plans to use the net proceeds for repayment or prepayment of loans and interest taken by the company and its key subsidiary. A portion of the funds will be used for general corporate purposes

India’s rooftop solar potential is vast. Policy momentum, domestic manufacturing expansion, and innovative retail models are laying the groundwork for mass adoption. The focus now must be on making solar a simple, dependable household choice — where purchasing panels is as straightforward as buying a home appliance.

Uttar Pradesh Power Corp. Ltd. (UPPCL) has launched a tender for the selection of developers to supply energy from 1,500 MWh (375 MW x 4 hours) of standalone battery energy storage systems (BESS) in the state of Uttar Pradesh, on an on-demand basis.

Saatvik Green Energy Ltd has announced the launch of its initial public offering (IPO), aiming to raise INR 900 crore. The offer comprises a fresh issue of equity shares aggregating up to INR 700 crore and an offer for sale (OFS) aggregating up to INR 200 crore by the promoters.

The Ministry of New and Renewable Energy (MNRE) has proposed the inclusion of solar wafers under the Approved List of Models and Manufacturers (ALMM), in a move aimed at promoting domestic manufacturing across the entire solar cell value chain. The ALMM for solar wafers will come into effect on June 1, 2028.