MNRE Unveils Trajectory for Renewable Energy Bids in India, MERC Approves 18% Hike in C&I Tariffs for FY24, And Much More...

India’s largest waste-to-energy producer, SAEL Limited , has successfully issued AA-rated bonds worth approximately $161 million (Rs 1,325 crore).The bonds were subscribed by a consortium of four leading institutions, including India Infradebt, Aseem Infrastructure Finance , Tata Capital Ltd - Cleantech Finance , and Kotak Infrastructure Debt Fund Limited Debt Fund.The long-term financing, which matures in 2033, is denominated in rupees.

In a recent order, the Central Electricity Regulatory Commission (Cerc) Commission (CERC) has approved a reduction in the ceiling prices for different Day-Ahead Markets (DAM) in India. The move comes ahead of the summer season when peak demands are expected to surge, and the government is making efforts to keep the lights on. The CERC has asked all Power Exchanges registered under the Power Market Regulations 2021 to redesign their software to accept revised bidding prices from April 4, 2023.

The Maharashtra Electricity Regulatory Commission (MERC) has approved an 18% hike in commercial and industrial (C&I) consumer tariffs for the current financial year, FY 2024. The decision was made in response to a petition filed by the Maharashtra State Electricity Distribution Company (MSEDCL).The tariff for high-tension connections will see an increase in FY24, with rates of ₹8.12/kWh for HT I (A) general connections, ₹8.43/kWh for HT I (B) seasonal connections, and ₹12.83/kWh for HT II connections.

Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) has invited bids for 225 MW of power from decentralized solar projects of 500 kW to 2 MW under component-A of the Pradhan Mantri-Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) program. The ceiling tariff for the project has been set at ₹3.30/kWh. The projects are expected to be commissioned within 12 months of the work order, with the last date for submitting bids being April 28, 2023.

The Ministry of New and Renewable Energy (MNRE) Energy (MNRE) in India has released a bidding trajectory for renewable energy power projects to achieve its target of 500 GW of installed electricity capacity from non-fossil sources by 2030. The trajectory prescribes bids for RE capacity of 50 GW per annum, with at least 10 GW per annum of wind energy capacity, to be issued each year from FY 2023-24 to FY 2027-28.