JMK Research & Analytics

Ministry of New and Renewable Energy (MNRE) issued guidelines for Implementation of "Payment Security Mechanism" Component and "Central Financial Assistance" under PM-Surya Ghar Yojana. • MNRE issued guidelines for Implementation of "Payment Security Mechanism" Component and "Central Financial Assistance" under PM-Surya Ghar Yojana. • These guidelines focus on RESCO models and Utility Led Aggregation (ULA) Models. • The implementation period of the scheme shall be till 31st March 2027. • The objective is to establish the method of leveraging payment security mechanism to ensure timely payments to RESCO developers  • Under the new guidelines, CFA applies to grid-connected rooftop solar systems, including specialized options like Building Integrated PV (BiPV), as well as Group Net Metering and Virtual Net Metering setups. CFA for ULA proposals shall be released against those households for which the capacity installed is up to 3 KW. • There will be a corpus of INR 100 crore for a Payment Security Mechanism that would be managed and administered by the National Programme Implementation Agency (NPIA) in an interest-bearing bank account, accessible to State/UT governments that propose ULA projects involving RESCO partners. • Under this arrangement, the ULA selected RESCO shall contribute to the PSM Corpus through a one-time PSM fee of INR 2000/installation. #india #renewableenrgy #rooftop #solar #guidelines

MHI issued the draft guidelines for inviting proposals to avail incentives under the PM E-DRIVE Scheme • The Ministry Of Heavy Industries (MHI) has recently issued the draft guidelines for inviting proposals to avail incentives under the PM E-DRIVE Scheme for the deployment of EV charging infrastructure in India. The Government of India approved PM E-DRIVE Scheme with an outlay of INR 10,900 crore over a period of two years on September 29, 2024. • To meet the need for fast chargers, the PM E-DRIVE scheme has allocated INR 2,000 crores for setting up public fast charging stations. Under this initiative, a total of 72,300 EV chargers will be supported across various segments. MHI intends to support the development of EV Public Charging Stations (EVPCS) by extending up to 80% subsidy on upstream infrastructure (behind the meter infrastructure) required for setting up public fast charging stations. In exceptional cases, the Ministry may consider higher funding, covering up to 100% of the cost (including upstream power infrastructure) of the project. • The PM E-DRIVE scheme aims to ensure that projects progress efficiently, with the timeline from tendering to full commercial operation set to be completed within 52 weeks. • The applicable incentive payable to a State Governments and Government of India Ministries will be calculated based on the price per kW of the benchmark upstream cost established by the Bureau of Energy Efficiency, as revised from time to time. • Once finalized and communicated, the incentive will be disbursed in three instalments: 30% as a mobilization advance following the issuance of tenders, 40% upon the deployment of EVSEs as specified in the bid documents, and the remaining 30% after the successful commencement of commercial operations at the charging stations. #india #electricvehicles #governmentsupport #policy #electrification #ev #evcharging

Exports by Leading Domestic PV Manufacturers in FY2024 Document Link is available in the first comment. #india #renewableenergy #exports #module #leading #players

Solar Energy Corporation of India Limited concluded the auction of its 1000 MW ISTS Solar Tranche XVIII tender. The winner details are provided below. ReNew, ACME Group, ADANI RENEWABLE ENERGY PARK LIMITED #india #renewableenergy #solar #tender #auction

Developer-wise project won across segments in Q3 2024 (Jul-Sep) Document Link is available in the first comment. #india #renewableenergy #projects #won #capacity

NTPC Limited concluded the auction of its 1200 MW ISTS Solar tender with greenshoe option of up to 600 MW capacity. The winner details are provided below. Bharat Petroleum Corporation Limited, Onward Solar, ReNew, Mahindra Susten #india #renewableenergy #solar #tender #auction #update

#EVUpdate • Bajaj Auto Ltd has launched the Chetak Technology Ltd 35 Series, available in three variants: 3501, 3502, and 3503. The 3501 model, featuring advanced capabilities, is priced at INR 1.27 lakh (ex-showroom, Delhi), while the mid-tier 3502 model is available for INR 1.20 lakh (ex-showroom, Delhi). The price for the 3503 variant is yet to be announced. Deliveries for the 3501 variants will begin in late December 2024, with the 3502 following in January 2025. • The Chetak 35 Series continues the iconic Chetak design while integrating modern technology. It is powered by a 3.5 kWh battery, offering a range of 153 km and a top speed of 73 km/h. • Additional features include a touchscreen TFT display with integrated navigation, music controls, and call handling capabilities. Other highlights are geo-fencing, theft alerts, accident detection, and overspeed warnings, ensuring a secure and connected riding experience. #india #electricvehicles #electrictwowheelers

RE tenders allotted in Q3 2024 Document link is available in the first comment. #india #renewableenergy #tenders #auction #result

Gujarat Urja Vikas Nigam Ltd. (GUVNL) concluded the auction of its 500 MW Solar Phase XXV tender with greenshoe option of additional capacity up to 500 MW. The winner details are provided below. Prozeal Green Energy Limited, KINTECH SYNERGY PRIVATE LIMITED, Enertech Fuel Solutions Pvt Ltd., SAEL , DRASHTA GREEN POWER LIMITED #india #renewableenergy #solar #tender #auction

Ministry of Steel and Heavy Industries releases India’s Green Steel Taxonomy • Ministry of Steel & Heavy Industries unveiled the Taxonomy of Green Steel for India. • The Ministry has set the target to achieve the taxonomy of green steel to reduce the emission intensity of 2.2 tCO2e per tonne of finished steel by 2030. • The salient features of green steel taxonomy – ->“Green Steel” shall be defined in terms of percentage greenness of the steel, which is produced from the steel plant with CO2 equivalent emission intensity less than 2.2 tonnes of CO2e per tonne of finished steel (tfs). The greenness of the steel shall be expressed as a percentage, based on how much the steel plant’s emission intensity is lower compared to the 2.2 t-CO2e/tfs threshold. • Based on the greenness, the green steel shall be rated as follows: ->Five-star green-rated steel: Steel with emission intensity lower than 1.6 t-CO2e/tfs. ->Four-star, green-rated steel: Steel with emission intensity between 1.6 and 2.0 t-CO2e/tfs. ->Three-star green-rated steel: Steel with emission intensity between 2.0 and 2.2 t-CO2e/tfs. • Steel with emission intensity higher than 2.2 t-CO2e/tfs shall not be eligible for green rating. • The National Institute of Secondary Steel Technology (NISST) shall serve as the nodal agency for measurement, reporting, and verification (MRV) as well as for issuing the greenness certificates and star ratings for the steel. • The threshold limit for defining the star rating of Green Steel shall be reviewed every three years. • The scope of emissions shall include Scope 1, Scope 2, and limited Scope 3, up to finished steel production. Scope 3 emissions shall include agglomeration (including sintering, pellet making, coke making), beneficiation, and embodied emissions in purchased raw materials and intermediary products, but shall not include upstream mining, downstream emissions and transportation emissions, both within and outside the gates of a steel plant. For more information, click here: https://lnkd.in/g4MtMr-2 MINISTRY OF STEEL #india #renewableenergy #steel #industry