New Mandate Requires Two-Hour Energy Storage for Solar Tenders in India

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Daily News Wrap-Up: Two-Hour Energy Storage Integration Mandated for Solar Tenders

The Ministry of Power has mandated that all renewable energy implementing agencies and state utilities must incorporate a minimum of a two-hour co-located energy storage system, equivalent to 10% of the installed solar capacity, in all solar tenders. Additionally, distribution licensees may consider requiring two-hour storage for rooftop solar installations. If these mandates are implemented, the government anticipates the installation of approximately 14 GW/28 GWh of storage by 2030.

In a related development, the Rajasthan government announced an increase in free monthly electricity units from 100 to 150 for beneficiaries of the Chief Minister Free Electricity Program. This announcement was made by the state Finance Minister, Diya Kumari, during the presentation of the 2025-2026 state budget. Under the PM Surya Ghar: Muft Bijli Yojana, the government will provide free rooftop solar systems to beneficiaries.

The Power Grid Corporation of India has invited bulk contract bids for supplying and installing 7 MW of rooftop solar systems on its buildings located in northern and western regions, as part of the PM Surya Ghar: Muft Bijli Yojana. The northern region will account for 4 MW, while the western regions will have a total capacity of 3 MW, covering states such as Gujarat, Madhya Pradesh, Dadra and Nagar Haveli, Daman and Diu, Maharashtra, Goa, and Chhattisgarh.

In Assam, the Assam Power Distribution Company has invited bids to establish rooftop solar projects with a cumulative capacity of 134 MW across government buildings under the PM Surya Ghar: Muft Bijli Yojana. This capacity will be divided into 76 MW for lower Assam, 31 MW for central Assam, and 27 MW for upper Assam, with bids due by March 11, 2025, and the opening scheduled for March 12. The project scope includes the design, supply, installation, testing, and commissioning of the projects.

Rooftop solar financing company Credit Fair has raised $5 million (₹415 million) from the $75 million (₹6.22 billion) ‘Green Basket Bond’ issued by Symbiotics Investments. The company plans to use these funds to finance 2,500 rooftop solar projects, focusing on residential customers, micro, small, and medium enterprises, as well as housing societies in tier-2 and tier-3 cities. Credit Fair also aims to provide financing options to underserved communities to make renewable energy more accessible.

The Ministry of Heavy Industries has signed a program agreement with Reliance New Energy Battery, a subsidiary of Reliance Industries, to establish a capacity of 10 GWh under the Production Linked Incentive (PLI) Program for Advanced Chemistry Cell (ACC). This agreement brings the total allocated capacity to 40 GWh for four firms out of a total of 50 GWh. The initial bidding for the ACC Energy Storage PLI Program concluded in March 2022, awarding 30 GWh of capacity to Ola Electric Mobility (20 GWh), Reliance New Energy (5 GWh), and Rajesh Exports (5 GWh).

Borosil Renewables reported a net loss of ₹300.7 million (~$3.46 million) in the third quarter (Q3) of the financial year (FY) 2025, compared to a loss of ₹158.9 million (~$1.83 million) in Q3 FY 2024. The increase in loss was attributed to a significant decline in average selling prices of solar glass, which fell from ₹113 (~$1.3)/mm in Q2 FY 2025 to ₹108 (~$1.2)/mm in Q3 FY 2025 due to price cuts by Chinese exporters and reduced ocean freight costs. The company’s revenue for the quarter reached ₹3.61 billion (~$41.52 million), representing a 9.4% year-over-year growth but a 3.1% decline quarter-over-quarter.

Meanwhile, the government-owned power generation company SJVN reported a revenue increase to ₹7.61 billion (~$87.52 million) in Q3 FY 2025, marking a 25% year-over-year increase from ₹6.08 billion (~$69.92 million). Revenue from renewable energy sources (wind and solar) surged 265% year-over-year to ₹530.2 million (~$6.09 million) compared to ₹145.3 million (~$1.67 million) in the previous year. The company’s net profit rose by 7% to ₹1.49 billion (~$17.13 million) compared to ₹1.39 billion (~$15.98 million) in the same quarter of FY 2024.
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