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Time of India
04-07-2025
- Business
- Time of India
India adds 16 GW RE capacity till May; SECI issues 3.2 GW solar+storage tenders in June
New Delhi: India floated 6,800 MW of renewable energy tenders in June 2025 under the project development category, including two large solar-plus-storage projects issued by SECI, according to JMK Research & Analytics . Solar Energy Corporation of India (SECI) issued tenders for development of 2,000 MW ISTS-connected solar with a 1,000 MW/4,000 MWh energy storage system (ESS) and another 1,200 MW solar project with 600 MW/3,600 MWh ESS component. About 513 MW of EPC tenders were issued during the month. NTPC issued a 260 MW solar EPC tender in Rajasthan. India added 12,970 MW of solar and 3,129 MW of wind capacity from January to May 2025, taking the country's cumulative renewable energy capacity to 226.7 GW. In May 2025, solar and wind additions totalled 3,123 MW, marking a 5.9 per cent decline compared to the previous month. In June 2025, a total of 1,570 MW of battery energy storage system (BESS) capacity and 312 MW of renewable energy capacity was allocated through auctions. Standalone BESS tenders accounted for 83 per cent of the total allotted capacity. The RE sector attracted $1,630 million in investments during June 2025. In the Indian Energy Exchange (IEX) Green Day-Ahead Market (GDAM), 938 million units were traded in June 2025, showing a 13.8 per cent increase from the previous month. The average traded price in IEX-GDAM stood at ₹4.38 per kWh. Mono PERC module prices fell marginally by 0.3 per cent in June 2025 over the previous month. During the month, 23 central and 15 state-level policies, notifications, regulations, and orders were issued relating to the renewable energy sector.
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Business Standard
03-07-2025
- Business
- Business Standard
IEX Q1 power trade rises 15%, REC volumes jump 149% amid price drop
The Indian Energy Exchange (IEX), the country's leading power trading platform, recorded a monthly electricity trading volume of 10,852 million units (MU) in June 2025, according to the data released by the company in a BSE filing. This reflects a 6.5 per cent rise compared to the same month last year. During the same period, trading of Renewable Energy Certificates (RECs) surged significantly, with 3.232 million certificates changing hands, marking a 636 per cent year-on-year (y-o-y) increase. In the first quarter of the 2026 financial year, IEX's total traded electricity volume reached 32,382 MU, growing 15 per cent over Q1 FY25. The volume of RECs traded in the quarter stood at 5.265 million, which is 149 per cent higher than in the previous year, the company said in a filing. According to government figures published in June 2025, India's electricity consumption dropped by 1.5 per cent y-o-y to 150.04 billion units, mainly due to an early start to the monsoon season. The Market Clearing Price (MCP) in the Day-Ahead Market (DAM) was ₹3.90 per unit in June 2025, down 28 per cent from a year earlier. In the Real-Time Market (RTM), the MCP was ₹3.73 per unit, showing a 26 per cent drop. During the first quarter of the current financial year, widespread rainfall led to cooler temperatures, resulting in lower-than-expected power demand during the summer months. At the same time, higher availability of hydroelectricity, wind power, and steady coal-based generation improved supply on the exchange, causing a notable decline in prices in both DAM and RTM. For Q1 FY26, the DAM MCP averaged ₹4.41 per unit, 16 per cent lower than the same period last year. Similarly, the RTM MCP averaged ₹3.91 per unit, 20 per cent less y-o-y. A particularly sharp drop occurred on 25 May 2025, when heavy rain pushed RTM prices to ₹1.53 per unit, with 'near-zero prices during several time blocks (9:15 AM to 2:30 PM).' 'These prices presented an opportunity for Discoms and Commercial & Industrial consumers to meet their demand at a competitive price and to replace their costlier power by procuring through exchanges', IEX said. Performance by market segment DAM: In June 2025, DAM volumes (including High Price DAM) stood at 4,610 MU, a 5 per cent decline from June 2024. For Q1 FY26, the DAM recorded 12,399 MU, down 7 per cent y-o-y. RTM: RTM volumes increased sharply to 4,312 MU in June 2025, compared with 3,213 MU in the same month last year, showing a 34 per cent increase. In Q1 FY26, RTM trading reached 12,975 MU, up 41 per cent compared with Q1 FY25. TAM: This segment, which includes Day-Ahead Contingency, High Price TAM, and contracts up to 3 months, saw 966 MU traded in June 2025, a 30 per cent decrease y-o-y. However, the quarterly volume was 4,348 MU, showing a 12 per cent increase over the prior year. Growth in the Green Market The Green Market, which combines the Green Day-Ahead Market (G-DAM) and Green Term-Ahead Market, achieved 964 MU of traded volume in June 2025. This marks a 30 per cent increase compared to June 2024. The weighted average price in the G-DAM for June stood at ₹3.30 per unit. Over the first quarter, the Green Market traded 2,660 MU, up 51 per cent y-o-y. A total of 3.232 million RECs were traded during the two sessions held on 11 and 25 June 2025, clearing at ₹350 and ₹360 per certificate, respectively. June's REC trading was 636 per cent higher than the same month last year. For the first quarter, the exchange handled 5.265 million RECs, up 149 per cent y-o-y. The next REC trading sessions will be held on 9 July 2025 and 30 July 2025.
Time of India
04-06-2025
- Business
- Time of India
India adds 1.1 GW solar open access capacity in Q1 2025, down 48% from previous quarter
New Delhi: India added 1.1 gigawatts (GW) of solar open access capacity in the first quarter (Q1) of calendar year (CY) 2025, a decline of nearly 48 per cent from 2.1 GW recorded in the preceding quarter (Q4 2024), according to the Q1 2025 edition of Mercom India's Solar Open Access Market Report. Year-on-year, installations were down by 47 per cent compared to over 2 GW in Q1 2024. The report attributed the slowdown to module shortages caused by the year-end commissioning rush driven by the close of the financial year, a lack of transmission infrastructure, delays in the connectivity approval process, and uncertainty around the Inter-State Transmission System (ISTS) waiver. "The open access solar market is beset by new challenges but the demand for clean energy has not only increased but expanded to encompass solar, wind, and energy storage. Many states are joining the green energy open access route owing to the demand their businesses operating in the state. But ISTS charges waiver would be integral to greater adoption by industries keen on wheeling power from renewable energy resource rich states," said Priya Sanjay, Managing Director at Mercom India. Solar open access projects accounted for 19.8 per cent of the total large-scale solar installations in Q1 2025. Of the open access projects installed during the quarter, 67.4 per cent were standalone solar, 32 per cent were wind-solar hybrid projects, and 0.6 per cent were floating solar installations. Maharashtra led in quarterly solar open access capacity additions, contributing nearly 29 per cent of the installations. The top five states accounted for over 89 per cent of total installations during the quarter. As of March 2025, India's cumulative installed solar open access capacity stood at 21.5 GW. Karnataka remained the leading state in terms of cumulative capacity, accounting for around 24 per cent of total installations. Maharashtra and Tamil Nadu followed, contributing nearly 17 per cent and over 12 per cent respectively. The pipeline of solar open access projects under development or in pre-construction stages was over 31 GW as of March 2025. The top five states comprised nearly 87 per cent of these pipeline projects. In Q4 2024, Adani Green was the leading seller in the Green Day-Ahead Market (G-DAM), accounting for over 41 per cent of the electricity sold. Maharashtra was the top procurer, accounting for 17 per cent of the electricity purchased through G-DAM. The cleared volume of Renewable Energy Certificates (RECs) traded on the Indian Energy Exchange (IEX) rose by 155 per cent quarter-over-quarter (QoQ), while trading in the Green Term Ahead Market (G-TAM) increased by around 72 per cent QoQ. The Q1 2025 Solar Open Access report also offers detailed insights into retail electricity tariffs, power purchase agreement (PPA) prices, and open access-related charges and costs across 15 states.
