Visionary entrepreneur and global business leader Zaya Younan, Founder and Chairman of Younan Company, has announced a strategic expansion into large-scale renewable energy with the launch of a major utility-scale […]

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Summary:

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### **1. Overview and Context:**
– **Date of Hearing:** 13th January 2026.
– **Common Petitioner:** Power Grid Corporation of India Limited (PGCIL).
– **Subject:** Multiple petitions (listed below) for **truing up of tariffs for the 2019-24 period** and **determination of tariffs for the 2024-29 period** for various transmission assets across India.
– **Regulatory Framework:** Petitions filed under the relevant tariff regulations (e.g., CERC Tariff Regulations, 2019).

### **2. List of Petitions & Key Respondents:**
The petitions involve transmission schemes across different regions. Key respondents are primarily the state power distribution companies (DISCOMs) of the respective beneficiary states.

| Petition No. | Scheme/Project Name | Region | Key Respondent(s) |
| :— | :— | :— | :— |
| **924/TT/2025** | Integration of Pooling Stations in Chhattisgarh… | Western | MPPMCL & 5 Others |
| **926/TT/2025** | System Strengthening XXVI | Southern | TANGEDCO/TNPDCL & 13 Others |
| **921/TT/2025** | System Strengthening Scheme-XIII | Southern | TANGEDCO/TNPDCL & 13 Others |
| **920/TT/2025** | Transmission System for Pavagada Solar Park Phase-I | Southern | TANGEDCO/TNPDCL & 13 Others |
| **962/TT/2025** | Substation works beyond Vemagiri | Southern | TANGEDCO/TNPDCL & 14 Others |
| **964/TT/2025** | WR-NR Corridor for Chhattisgarh IPPs | Northern | UPPCL & 21 Others |
| **413/TT/2025** | North Eastern Region Strengthening Scheme-IV | North Eastern | APDCL & 6 Others |
| **435/TT/2025** | Inter-Regional Strengthening (WR & NR Part-A) | Inter-Regional | MPPMCL & 5 Others |
| **411/TT/2025** | Raipur-Rajnandgaon TL for Chhattisgarh IPPs | Western | MPPMCL & 8 Others |
| **518/TT/2025** | Transmission for Phase-I Gen Projects in Odisha | Western | MPPMCL & 5 Others |
| **420/TT/2025** | Western Region System Strengthening Scheme-V | Western | MPPMCL & 5 Others |
| **731/TT/2025** | *(Details not fully specified in snippet)* | *Not Specified* | *Not Specified* |

### **3. Proceedings and Core Issue:**
– PGCIL, as the Central Transmission Utility (CTU), is seeking **regulatory approval for the final tariffs** for its transmission assets.
– The process involves two key steps for each asset:
1. **Truing Up (2019-24):** Final reconciliation of actual capital expenditure (CAPEX) and operational costs against earlier estimates to determine the final payable tariff for the past period.
2. **Tariff Determination (2024-29):** Setting the approved tariff for the next regulatory period based on the trued-up capital cost and normative operational parameters.

### **4. Business & Regulatory Implications:**

– **For PGCIL:** This is a critical, routine regulatory process to **secure revenue recovery** for its vast transmission investments. Timely and accurate submission of the voluminous data is essential to avoid delays in tariff approval and cash flow.
– **For Respondent DISCOMs:** They have the opportunity to **review and challenge** PGCIL’s cost claims. Their scrutiny is vital to ensure that only prudent and efficient costs are passed through to the end consumers via tariffs.
– **For End Consumers:** The outcome of these petitions will ultimately influence the **transmission component of electricity bills** for consumers in the beneficiary states.
– **For the Power Sector:** The process underscores the **regulated, cost-plus nature of transmission tariffs** in India. It ensures transparency and allows recovery of investments for critical national grid infrastructure.

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For more information please see below link:

Summary:

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### **1. Project Overview**
* **Objective:** Select SPDs to finance, design, install, own, operate, and maintain rooftop solar plants. The SPD will sell the generated solar power to the client organization under a long-term Power Purchase Agreement (PPA).
* **Total Capacity:** ~5,665 kW, split across 14 projects at different client sites (e.g., Sushma Swaraj Bhawan, MEA, DGCA, NIFTs, IISERs, etc.).
* **Business Model:** **RESCO Mode.** The SPD owns the asset and is responsible for all capital expenditure, O&M, and performance risk for 25 years.
* **PPA Term:** 25 years from the Commercial Operation Date (COD).

### **2. Key Bidding Information**
* **Bid System:** **Single-Stage, Two-Envelope** (Techno-Commercial Bid & Financial Bid). Bidding is conducted **online** via the ISN-ETS portal.
* **Bid Processing Fee:** **INR 6,000** (non-refundable, inclusive of GST).
* **Earnest Money Deposit (EMD):** **Required.** Amount varies per project (see table in Clause 15). Can be submitted as a **Bank Guarantee (BG), Payment on Order Instrument (POI)** from PFC/REC, or an **Insurance Surety Bond**.
* **Performance Bank Guarantee (PBG):** **Required upon selection.** Amount: **INR 3,375 per kW** of awarded capacity. Can also be submitted as BG, POI, or Surety Bond.
* **Service Charges (to SECI):** **INR 1,350 per kW** + GST, payable in two installments (50% after LoA, 50% before PPA signing).
* **Bid Validity:** 12 months from the bid submission deadline.

### **3. Bidder Eligibility Criteria**
* **Entity Type:** Company, LLP, Registered Partnership, or Proprietorship Firm under Indian law. **A foreign company cannot bid standalone or as a consortium member.**
* **Consortium:** Allowed. Must have a **Lead Member** with **not less than 51% shareholding** in the consortium. All members must have non-zero equity participation.
* **Technical Eligibility:**
* Must use commercially established technology.
* **Solar PV modules and cells must be sourced from manufacturers listed in the MNRE’s Approved List of Models and Manufacturers (ALMM)** lists valid on the date of invoicing.
* **Financial Eligibility (Must meet both):**
* **Net Worth:** Must be equal to or greater than the cumulative requirement for all projects bid for. Value is specified per project in Clause 32.1.
* **Liquidity/Working Capital:** Must be equal to or greater than the cumulative requirement for all projects bid for. Can be demonstrated through financial statements or a confirmed bank line of credit. Value is specified per project in Clause 32.2.
* **Documents:** Audited annual accounts for FY 2024-25 (or provisional accounts as of 7 days prior to bid deadline) with supporting CA certificates.

### **4. Bid Submission & Evaluation Process**
1. **Registration:** Bidders must register on the **ISN-ETS portal** (`https://www.bharat-electronictender.com`) and download the official RfS copy.
2. **Bid Submission (Two Envelopes):**
* **Envelope I (Techno-Commercial):** Contains all eligibility documents, formats, and declarations.
* **Envelope II (Financial):** Contains only the **quoted fixed tariff (INR/kWh)** for each project applied for.
3. **Evaluation:**
* **Step 1:** Only bids with complete documentation (incl. EMD & fee) are opened. SECI evaluates Techno-Commercial eligibility.
* **Step 2:** Financial Bids of only qualified bidders are opened.
4. **Selection & Award:**
* The bidder quoting the **lowest tariff (L1)** for a specific project is declared the **Successful Bidder** for that project.
* **Tie-Breaker (if same L1 tariff):** 1) Higher Net Worth; 2) Higher declared CUF; 3) Draw of lots.
* **No negotiations** on the quoted tariff are permitted.
* **Letter of Award (LoA)** is issued separately for each project.

### **5. Critical Project & Contractual Obligations**
* **Scope of Work:** SPD is solely responsible for design, engineering, supply, installation, grid connectivity approvals, net-metering, testing, commissioning, and 25-year comprehensive O&M.
* **Commissioning Timeline:**
* **Scheduled Commissioning Date (SCD):** 7 months from PPA Effective Date.
* **Maximum Delay with Penalty:** Up to 6 months from SCD (pro-rata PBG encashment).
* **Delay beyond Max Period:** PPA capacity gets reduced to only the commissioned capacity; balance stands terminated.
* **Performance (CUF):**
* Must declare a minimum annual CUF of **15%** at the time of bidding.
* Must maintain generation within **+10% / -15%** of declared CUF for the first 10 years, and **+10% / -20%** thereafter.
* **Penalty for shortfall:** 50% of PPA tariff for the shortfall energy.
* **Shareholding Lock-in:** The Successful Bidder (or consortium members combined) must maintain a **minimum 51% shareholding** in the Project Company/SPV until **1 year after COD**.
* **Jurisdiction:** Exclusive jurisdiction for all matters related to this RfS lies with the **courts at New Delhi, India**.

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For more information please see below link:

In Short : Vietnam’s Vingroup has announced a USD 3 billion investment in Telangana to develop large-scale projects across smart cities, electric mobility, renewable energy, tourism, healthcare, and education. Spread over 2,500 hectares, the initiative includes India’s first electric taxi fleet, a 1,080-hectare smart city, and a 500 MW solar power project.

In Detail : Vietnamese conglomerate Vingroup has signed a Memorandum of Understanding with the Government of Telangana to invest USD 3 billion in developing an integrated multi-sector ecosystem across the state. The projects will cover smart urban development, electric mobility, renewable energy, tourism, healthcare, education, and strategic infrastructure, marking one of the largest foreign investment commitments in Telangana.

The investment will be spread over nearly 2,500 hectares and is expected to significantly strengthen Telangana’s urban infrastructure, clean energy capacity, employment opportunities, and global investment positioning. The partnership reflects Vingroup’s broader global expansion strategy and reinforces its growing presence in the Indian market.

A key component of the initiative is the launch of India’s first large-scale electric taxi fleet through GSM, Vingroup’s mobility arm. The fleet will use VinFast electric vehicles, supporting cleaner urban transport, reducing carbon emissions, and contributing to Telangana’s electric mobility ambitions.

Vingroup is also evaluating the establishment of electric vehicle manufacturing and assembly facilities in the state. This move would further integrate Telangana into India’s EV supply chain and strengthen the state’s position as a hub for electric mobility and advanced manufacturing.

Under its real estate arm, Vingroup plans to develop a Vinhomes Smart City over 1,080 hectares, designed to house nearly 2,00,000 residents. The project is expected to generate around 10,000 jobs and will include smart infrastructure, digital services, sustainable urban design, green spaces, and modern mobility solutions.

In addition to residential development, around 70 hectares will be dedicated to social infrastructure, including Vinschool K–12 campuses, Vinmec international hospitals, and a V-Green electric vehicle charging network. These facilities aim to enhance access to high-quality education, healthcare, and EV support services.

The tourism segment of the investment includes a 350-hectare integrated entertainment destination under the VinWonders brand. The project will feature a large theme park, a modern zoo, and a safari experience, positioning Telangana as a major tourism and leisure hub.

On the renewable energy front, Vingroup’s green energy arm VinEnergo will develop a 500 MW solar power plant across 500 hectares. The project will supply clean energy to residential zones, industrial areas, and EV infrastructure, directly supporting Telangana’s renewable energy and climate goals.

The Telangana government has assured full support for the projects through land allocation, fast-track approvals, and policy incentives. Chief Minister A. Revanth Reddy described the investment as a major endorsement of the state’s “Telangana Rising” vision, while Vingroup stated that Telangana offers strong potential aligned with its expertise in smart cities and electric mobility.

In Short : HEC Infra Projects has won a ₹16.35 crore order from Advait for a battery energy storage system project in Gujarat. The contract highlights growing demand for energy storage solutions in India and reflects the increasing role of batteries in supporting grid stability, renewable energy integration, and the transition toward a more flexible and resilient power system.

In Detail : HEC Infra Projects has achieved a significant milestone by securing a ₹16.35 crore contract from Advait for the execution of a battery energy storage system project in Gujarat. This order strengthens the company’s position in the fast-growing energy storage segment and underlines the rising importance of battery technologies in India’s evolving power infrastructure.

The project involves the supply and deployment of battery energy storage systems designed to store excess electricity and release it during periods of high demand. Such systems play a crucial role in balancing supply and demand, improving grid reliability, and enhancing the overall efficiency of power distribution networks.

Battery energy storage is becoming increasingly vital as India expands its renewable energy capacity. Solar and wind generation are inherently intermittent, making storage solutions essential for ensuring a stable and continuous power supply. BESS projects help smooth fluctuations and enable higher penetration of clean energy into the grid.

For HEC Infra Projects, this order represents a strategic step toward diversifying its project portfolio and expanding its footprint in emerging clean energy technologies. By participating in energy storage deployments, the company is aligning itself with long-term trends in the power sector and strengthening its technical capabilities.

Advait, as the project awarding entity, continues to play an active role in developing advanced energy infrastructure across the country. The collaboration with HEC Infra Projects reflects a growing ecosystem of companies working together to accelerate the adoption of modern grid solutions.

The Gujarat location of the project is particularly significant, as the state has been at the forefront of renewable energy development in India. With large solar and wind installations, Gujarat requires robust storage systems to manage variability and ensure consistent power delivery to industries and consumers.

Beyond grid stability, battery energy storage systems also support applications such as peak shaving, frequency regulation, and backup power. These capabilities are especially valuable for industrial users, data centers, and critical infrastructure that require uninterrupted and high-quality electricity supply.

The increasing number of BESS projects across India signals a broader transformation in how electricity systems are designed and operated. Storage is no longer seen as an optional add-on but as a core component of modern power systems that enables flexibility, resilience, and digital energy management.

Overall, the ₹16.35 crore BESS order marks an important development for HEC Infra Projects and reflects the accelerating momentum of energy storage in India. As renewable capacity grows and grid complexity increases, battery projects like this will be central to building a reliable, sustainable, and future-ready energy ecosystem.

In Short : ReNew is planning a $500 million bond issuance to strengthen its financial position and support the expansion of its renewable energy portfolio. The proposed fundraising reflects strong investor confidence in clean energy assets and highlights the growing role of global capital markets in financing large-scale renewable projects and sustainability-driven infrastructure.

In Detail : ReNew is lining up a $500 million bond issue as part of its broader strategy to raise long-term capital for renewable energy expansion. The move signals the company’s intent to tap international debt markets to support its growth plans and strengthen its balance sheet amid rising investments in clean power and sustainable infrastructure.

The proposed bond issuance is expected to help ReNew refinance existing debt, lower financing costs, and improve overall liquidity. By accessing global capital markets, the company can secure competitive funding terms while maintaining financial flexibility to pursue new projects across solar, wind, and hybrid energy segments.

Bond issuances have become an increasingly popular financing tool for renewable energy companies, as they provide access to large pools of institutional capital. Investors are showing growing appetite for green and sustainability-linked instruments, driven by environmental, social, and governance considerations as well as the long-term stability of clean energy assets.

For ReNew, the fundraising initiative aligns with its long-term objective of scaling up its renewable capacity and strengthening its position as a leading clean energy player. The company continues to expand its operational portfolio, develop new projects, and invest in advanced technologies such as energy storage and digital grid solutions.

The $500 million bond issue also reflects broader trends in the global energy sector, where capital is increasingly being redirected from fossil fuel-based assets toward renewable and low-carbon infrastructure. This shift is supported by favorable policy frameworks, climate commitments, and rising corporate demand for green electricity.

From a financial perspective, bond funding allows companies like ReNew to diversify their capital structure and reduce reliance on traditional bank loans. Long-tenure bonds are particularly suitable for infrastructure projects, as they align well with the long operational life and predictable cash flows of renewable energy assets.

The success of the bond issue will depend on market conditions, investor sentiment, and the company’s credit profile. However, the strong global momentum behind green finance is expected to support robust demand, especially from funds focused on climate-aligned and sustainable investments.

In addition to funding capacity expansion, the bond proceeds may also be used for acquisitions, project development, and operational efficiencies. This can help ReNew enhance scale, optimize asset performance, and strengthen its competitive positioning in both domestic and international renewable markets.

Overall, ReNew’s planned $500 million bond issue highlights the growing role of capital markets in driving the clean energy transition. By attracting global investors and securing long-term funding, the company is reinforcing its ability to deliver large-scale renewable projects and contribute meaningfully to the shift toward a low-carbon energy future.

v

Sumamry:

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**1. Regulatory Authority**
Central Electricity Regulatory Commission (CERC), New Delhi.

**2. Overview of Petitions**
A **combined proceeding** covering **11 separate tariff petitions** filed by **Power Grid Corporation of India Limited (PGCIL)** for truing up of transmission tariffs for the period **2019–24** and determination of tariffs for **2024–29**.

**3. Common Objective Across All Petitions**
– **Truing Up:** Adjust past tariffs (2019–24) based on actual capital expenditure, operational expenses, and other cost variations.
– **Tariff Determination:** Set new transmission tariffs for the next control period (2024–29) for specified transmission assets/schemes.

**5. Commission’s Directions & Information Requirements**
CERC directed PGCIL to submit detailed financial and technical data in prescribed formats for each petition, including:

– **Form 9C:** Capital cost, financing, and tariff calculation sheets with Excel linkages.
– **Form 7B:** Asset-wise tariff computation.
– **Form 5 & 13:** Asset details, capital expenditure, and initial spares.
– **Liability Flow Statements:** Debt and interest details.
– **IDC (Interest During Construction) Discharge Statements.**
– **Auditor Certificates:** For plant & machinery cost, initial spares.
– **Accumulated Depreciation Details:** For PLCC, IT equipment, etc.
– **ACE (Additional Capital Expenditure) Reconciliation:** Item-wise and party-wise comparison with previous orders.

**6. Key Regulatory & Business Implications**
– **Tariff Stability:** The process ensures predictable and cost-reflective transmission pricing for the next 5 years.
– **Cost Recovery:** PGCIL seeks to recover past under/over-recoveries and secure revenue for future operations.
– **Transparency:** Extensive data submission ensures regulatory scrutiny and stakeholder confidence.
– **Multi-Regional Impact:** Tariffs affect multiple state DISCOMs and power utilities across India.
– **Renewable Integration:** Some schemes (e.g., Pavagada Solar Park) support renewable energy evacuation.

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For more information please see below link:

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PureSky Energy has reached commercial operations of its Heath Brook and Sand Brook community solar projects in Corinth, New York. The two solar farms – which together total approximately 12.92 MWDC (about 5 MWAC each) – are now delivering clean, renewable power to the grid. Combined, Heath Brook and Sand Brook will generate around 18.8 million kWh…

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TurningPoint Energy (TPE) and Standard Solar will collaborate on 11.2 MW of community solar built across two projects in Kent and Sussex counties in Delaware. In 2022, TPE committed to investing more than $100 million in projects across the state. Located in Harrington and Bridgeville, each of the projects are 5.6-MWDC single-axis tracker systems and…

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Enfinity has started commercial operations at a 33.8MW solar PV project, the first in a portfolio from which Microsoft will acquire power

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