CERC Allows Connectivity Extension for Delayed Renewable Projects

Karnataka Announces 3 GW Agricultural Feeder Solarization Program

Maharashtra Proposes ₹2.82/kWh Tariff for Surplus Rooftop Solar Power

Kedarnath Multigrains Cuts Power Bills With 659 kW Rooftop Solar System

IL&FS Mutual Fund Commits ₹1.25 Billion Investment in Hero Solar Energy

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POWERGRID Invites Bids for 50 MW/100 MWh Battery Storage Project in Punjab

Bank of Baroda Raises ₹100 Billion Through Green Infrastructure Bonds

Himachal Proposes EV Charging Points, Energy Efficiency Norms for Buildings

Daily News Wrap-Up: Karnataka Revises Power Tariffs


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					</table><p>U.S.-based electric-vehicle charging solutions company <a href="https://www.chargepoint.com/?srsltid=AfmBOorTg_G8f0Tll_svMjmt7sQP1_6RaVXpZYfxYiNLeQF1fCLzkK29" target="_blank" rel="noopener">ChargePoint</a> reported revenue of $109.3 million in the fourth quarter (Q4) of fiscal year (FY) 2026, a 7% year-over-year (YoY) increase from $101.9 million.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/03/Picture1-1.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-91538 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/03/Picture1-1.png" alt="" width="752" height="352" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/03/Picture1-1.png 752w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/03/Picture1-1-300x140.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/03/Picture1-1-650x304.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/03/Picture1-1-624x292.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/03/Picture1-1-600x281.png 600w" sizes="auto, (max-width: 752px) 100vw, 752px" /></a></p>
<p>The revenue exceeded analysts&#8217; expectations by $4.43 million.</p>
<p>The company attributed the growth to investments in product innovation, partnerships, rising market interest, greater utilization, and market consolidation, which have boosted its market share of public ports in North America.</p>
<p>Net loss for the quarter narrowed by 48% to $13.07 million from $25.2 million.</p>
<p>The company’s earnings per share (EPS) loss came in at $1.85, compared to an EPS loss of $2.63, beating analysts’ expectations by $0.49.</p>
<p>ChargePoint’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss was $18.4 million, a 6% YoY increase from $17.3 million.</p>
<p>It said Europe experienced robust double-digit growth, driven by regulations and new incentives. It expects the trend in Europe to continue, further accelerated by its products.</p>
<p>Its billings comprised commercial, 78%; residential, 6%; fleet, 9%; and other, 7%. In terms of geography, North America accounted for 77% of revenue, and Europe 23%.</p>
<p>Networked charging systems revenue for Q4 FY 2026 was $57.6 million, up 10% from $52.6 million in the prior year’s same quarter.</p>
<p>Subscription revenue was $42.5 million, up 11% YoY from $38.3 million.</p>
<p>In Q4 FY 2026, ChargePoint and Ford Pro also announced a new collaboration to offer specialized home, depot, and workplace EV charging solutions for Ford Pro&#8217;s commercial fleet customers in Germany and the UK.</p>
<p>ChargePoint and RAW Charging, a UK-based charge point operator, established a multi-year partnership, with RAW Charging committing $7.5 million.</p>
<p>In Q3 FY 2026, its revenue <a href="https://www.mercomindia.com/improving-residential-business-cuts-chargepoints-net-loss-by-32-yoy" target="_blank" rel="noopener">stood</a> at $105.67 million, a 6% YoY increase from $99.6 million.</p>
<p><strong>Full Year Results</strong></p>
<p>In FY 2026, ChargePoint reported revenue of $411.2 million, a small decline from $417.1 million a year ago.</p>
<p>Networked charging systems revenue for FY 2026 was $216.5 million, down 8% from $234.8 million in the prior year.</p>
<p>The company’s subscription revenue stood at $162.4 million, up 13% YoY from $144.3 million.</p>
<p>Net loss for the year declined by 32% to $107.15 million, from $157.69 million.</p>
<p>The company’s EPS loss came in at $9.41, compared to an EPS loss of $12.78.</p>
<p>EBITDA loss narrowed by 29% YoY to $82.7 million in FY 2026 from a loss of $116.5 million.</p>
<p><strong>Business Highlights</strong></p>
<p>ChargePoint now manages approximately 385,000 ports, including more than 41,000 DC fast chargers and more than 130,000 ports located in Europe.</p>
<p>Globally, ChargePoint drivers have access to over 1.37 million public and private charging ports.</p>
<p>At the end of FY 2026, ChargePoint had 1.48 million active users, representing 8% YoY growth.</p>
<p>In its Q4 FY 2026 earnings call, the company said that it added approximately 18,000 new public DC fast-charging ports, largely driven by private investment rather than government stimulus in the U.S.</p>
<p>The company also said it planned to move towards a new software-first strategy, under which non-ChargePoint hardware ports would be managed by its software.</p>
<p>Reflecting on ChargePoint’s new software-first strategy, Richard Wilmer, President, CEO, and Director, said that managing non-ChargePoint hardware will expand the company’s addressable market and support a business model centered on recurring software revenue and sticky long-term customer relationships.</p>
<p>Globally, the company has nearly 130,000 software-only managed ports, representing approximately 30% of all ports under management.</p>
<p>The company is also bullish about the global demand for EVs in the coming years.</p>
<p>Wilmer said that global EV sales grew meaningfully YoY in 2025. He added that even in North America, where growth moderated, interest in EVs remains resilient, and satisfaction among EV owners continues to be exceptionally high.</p>
<p>He noted that original equipment manufacturers still view EVs as the long-term destination, but the path is proving longer and less linear, with hybrids and plug-in hybrids serving as bridges.</p>
<p>He added that the next leg of adoption will depend less on mandates and more on economics and customer experience.</p>
<p>After a strong fourth quarter, the company expects first-quarter fiscal 2027 revenue to be in the $90 million to $100 million range.</p>


ChargePoint’s Revenue Up 7% YoY in Q4 FY 2026, Net Loss Down 48%


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					</table><p>Electric vehicle (EV) users in Karnataka will have to get approvals from distribution licensees to install EV chargers in non-designated areas, according to a new Karnataka Electricity Regulatory Commission (<a href="https://kerc.karnataka.gov.in/en" target="_blank" rel="noopener">KERC</a>) order.</p>
<p>Karnataka has developed standard operating guidelines for all EV users due to the confusion and inconsistency within the residential EV charging space.</p>
<p>The rules include tariffs for EV charging and installing the chargers in designated and non-designated areas.</p>
<p>The KERC order comes in the background of EV users and building owners complaining about practical difficulties in the installation of EV charging stations such as metering, and extension of charging cables in common areas.</p>
<p><strong>2 EV charging points</strong></p>
<p>KERC has added a new clause to the Conditions of Supply (Eighth amendment, 2019) about commercial/residential buildings, complexes, and multi-story buildings within Karnataka with a requisitioned load of 250 kW or more and more than 5,000 sq mt of the built-up area of the building. The owner/promoter of such buildings must install two charging points capable of charging any vehicle of any EV segment.</p>
<p><strong>Charging installations in multi-story buildings </strong></p>
<p>EV charging stations in designated EV charging zones can be deployed either as a single point for the association or as individual connections for each consumer with approval from the area distribution licensee.</p>
<p>EV users (all vehicle segments) in multi-story buildings/complexes can install their EV chargers within the sanctioned load or increase the load upon approval from the distribution licensee. However, the tariff will be charged as per the installation category tariff. They may also choose a new connection under the EV charging category.</p>
<p>In buildings with no designated parking space, EV charging stations/points must be set up in common areas.</p>
<p>As per the KERC order, the energy charge for EVs has been fixed at ₹4.50/kWh ($ 0.054/kWh).</p>
<p>The wiring and cabling can be extended from the meter panel to the EV charging unit.</p>
<p>The individual connection for each EV charging station up to 150 kW is allowed under LT connection.</p>
<p><strong>Sub-metering</strong></p>
<p>EV users will also be able to now install LT/HT sub-meters for their EV charging stations. The energy consumption recorded in the sub-meter will be deducted from the consumption in the main meter. Billings for sub-meters will take place as per the EV tariff. There will be no fixed charges for these sub-meters.</p>
<p>The commission has also asked the Chief Electrical Inspector, Government Electrical Inspectorate, to issue norms for placing energy meters in metering panels, the type/manner of electrical wiring/cabling from meter panels to charging stations, safety earthing, and prescribed standards for wiring.</p>
<p>The distribution licensee has also been asked to issue guidelines for installing EV charging stations/points.</p>
<p>In its Budget for 2024, the Karnataka government <a href="https://www.mercomindia.com/karnataka-2024-budget-billion-for-solar-pumps">announced</a> plans to set up around 2,500 EV charging stations in the state in partnership with the private sector. It also said it would invest ₹350 million (~$4.2 million) to set up 100 EV charging centers in collaboration with distribution companies.</p>
<p>Subscribe to Mercom’s real-time <a href="https://mercomindia.com/product/mercoms-renewable-energy-regulatory-updates/">Regulatory Updates</a> to ensure you don’t miss any critical updates from the renewable sector.</p>


KERC Issues Guidelines for Installing EV Charging Points in Buildings


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					</table><p>Bengaluru-based electric vehicle (EV) charging aggregation platform <a href="https://electricpe.com/" target="_blank" rel="noopener">ElectricPe</a> closed a pre-series A funding round of $5 million, taking the company’s total capital raised in the last 12 months to $8 million. The company said it will use the funds to deepen technology investments and scale its operations.</p>
<p>The funding round was led by Green Frontier Capital, Blume Ventures, and Micelio Fund, while notable investors from Dubai NB Ventures, Anchorage Capital Partners, Supermorpheus, and Climate Angels also participated in the fundraising.</p>
<p>ElectricPe is a Business-2-Customer EV charging and demand generation platform that offers EV users one spot to identify, access, and pay for charging points to make e-mobility easier. The company has dispensed 100 GWh of energy to date.</p>
<p>Co-Founder and CEO of ElectricPe Avinash Sharma said, &#8220;We&#8217;ve received positive consumer response to our offering of a single app to find, use and pay across any charging or swapping station. Our belief has always been in stage-by-stage capitalization as we ramp up our operations and create a holistic full-stack consumer-facing platform.”</p>
<p>Managing Partner at Green Frontier Capital Sandiip Bhammer said, “We are focused on investing in homegrown startups which have a strong vision and are proving their ability to provide a unique technology solution to the growing climate change issue.”</p>
<p>Since its incorporation in 2021, ElectricPe has installed 10,000 live charging points in Bengaluru. The company’s app has witnessed a 30% increase in usage month-on-month, in the past 7.5 months, with customers on the network completing 4 million green kilometers.</p>
<p>&#8221; We are excited to once again back the ElectricPe team to solve the issue of access to charging infrastructure and improve customer satisfaction,” said Shreyas Shibulal, CEO &amp; Founder of Micelio Fund.</p>
<p>“The EV sector is growing at a rapid pace and consumers are seeking full-stack solutions, in one place. Having a trusted dense network of charging/swapping points to find, use and pay will not only help increase adoption but also utilization of charging infrastructure,” said Arpit Agarwal, Director, Blume Ventures.</p>
<p>Last month, the Minister of Road Transport and Highways, Nitin Gadkari <a href="https://mercomindia.com/two-and-three-wheelers-dominate-indias-registered-electric-vehicles/" target="_blank" rel="noopener">informed</a> the lower house of Parliament that India has over 1.8 million registered EVs, with Uttar Pradesh accounting for nearly 23% of the total at 0.41 million.</p>
<p>Last April, Hero Electric <a href="https://mercomindia.com/daily-news-wrap-up-kerc-condones-delay-solar-project-vijayapura/" target="_blank" rel="noopener">partnered</a> with ElectriPe to provide the former’s customers with accessibility to ElectricPe’s charging network across India.</p>


EV Charging Aggregation Platform ElectricPe Raises $5 Million in Funding


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					</table><p>Surat-based Electric Vehicle (EV) startup, <a href="https://www.evify.co.in/" target="_blank" rel="noopener">EVIFY Logitech</a>, has raised $100,000 in a seed round from angel investors, including We Founder Circle.</p>
<p>The company provides a technology-enabled EV logistics platform and aims to provide green logistics-based end-to-end services to e-commerce giants. It plans to develop its platform more extensively by adding Geofencing, customized BMS, telematics, client insights, and driver and fleet management.</p>
<p>EVIFY intends to transform the country&#8217;s last-mile deliveries to be electric and environment-friendly.</p>
<p>The company has partnered with food delivery giant Swiggy to deliver food orders through EVs in Gujarat. It has already started working on installing around 2,000 charging points in Surat for its fleet of EVs to reduce downtime.</p>
<p>&#8220;We are focused on setting our strong foot in Surat in the coming months through this funding round and develop our SOPs for expansion in multiple cities, including Vadodara, Ahmedabad, and Rajkot,&#8221; said Pragya Mittal, Co-Founder and CMO of EVIFY.</p>
<p>With Hero Electric, the company has signed an agreement to purchase 1,000 electric scooters to be deployed in various Tier-2 and Tier-3 cities. The company has its driver application and dashboard, which helps them track drivers and their performance.</p>
<p>As of April 2022, around 3,00,000+ green km have been completed, and 50,000+ green deliveries have been made. The company has also planned to develop the charging infrastructure in the city&#8217;s prime locations for better performance of its fleet. Their client list also includes Big Basket, Baba Express, and Ecom.</p>
<p>The platform also plans to install solar panels on its office rooftop, charging hubs, and warehouses.</p>
<p>In May this year, electric ride-hailing company BluSmart <a href="https://mercomindia.com/blusmart-raises-25-million-to-expand-its-electric-vehicles/" target="_blank" rel="noopener">raised</a> $25 Million in Series A funding to expand its EV fleet to six cities in India.</p>
<p>In January this year, another EV startup, Evage, <a href="https://mercomindia.com/evage-raises-28-million-seed-funding/" target="_blank" rel="noopener">raised</a> $28million in a seed funding round led by RedBlue Capital, a U.S.-based venture capital firm.</p>


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