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

POWERGRID Seeks Partner for PSPCL’s 100 MWh Battery Storage Project

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>Eagle Construction (Eagle Infra India) and OPG Power (OPG Power Ventures) <a href="https://www.mercomindia.com/eagle-construction-opg-power-win-tngecls-1-5-gwh-battery-storage-auction" target="_blank" rel="noopener">won</a> Tamil Nadu Green Energy Corporation’s (TNGECL) auction to set up seven standalone battery energy storage systems with a total capacity of 375 MW/1,500 MWh. Out of the 375 MW/1,500 MWh tendered capacity, only 350 MW/1,400 MWh was auctioned. Eagle Construction won 175 MW/700 MWh at a tariff of ₹315,000 (~$3,471.07)/MW/month, and OPG Power won 175 MW/700 MWh at a tariff of ₹316,000 (~$3,482.09)/MW/month.</p>
<p>The Ministry of New and Renewable Energy (MNRE) <a href="https://www.mercomindia.com/mnre-tells-states-to-identify-sites-for-floating-solar-project-development" target="_blank" rel="noopener">sought</a> feedback from the states on the draft reports prepared by the National Institute of Solar Energy and the Indian Institute of Technology Roorkee on the potential of floating solar and the policy framework. The documents assess India’s floating solar potential and propose a policy framework covering site identification, project execution guidelines, stakeholder roles, approvals, scheduling, and measures to reduce risks for developers and investors.</p>
<p>The Solar Energy Corporation of India <a href="https://www.mercomindia.com/seci-invites-quotes-from-banks-for-%E2%82%B94-5-billion-term-fixed-deposit-investments" target="_blank" rel="noopener">invited</a> quotations from scheduled commercial banks to invest ₹4.5 billion (~$49.603 million) in term/fixed deposits. The last date to submit bids is February 23, 2026. The deposits will be made in branches located in the Delhi-NCR region. Quotations will be accepted from a single bank; if they are received from multiple banks, quotations at a higher interest rate will be considered. The quoted interest rate must be valid until February 23, 2026.</p>
<p>Wind turbine manufacturer Senvion India <a href="https://www.mercomindia.com/senvion-wins-83-7-mw-wind-turbine-order-from-tata-power-renewable-energy" target="_blank" rel="noopener">won</a> an order from Tata Power Renewable Energy to supply and install 83.7 MW of wind turbines. Senvion will deploy 31 of its 2.7M130 wind turbines at a 130-metre hub height. These turbines combine a large rotor and intelligent controls, making it ideal for independent power producers seeking dependable long-term performance. Senvion will also manage long-term operations and maintenance for up to 25 years.</p>
<p>Olectra Greentech’s subsidiary, EveyTrans, <a href="https://www.mercomindia.com/olectra-greentech-bags-two-orders-for-electric-buses-worth-%E2%82%B918-billion" target="_blank" rel="noopener">secured</a> two orders from the Telangana State Road Transport Corporation for the supply, operation, and maintenance of 1,085 electric buses, comprising 1,025 (12-meter non-AC) buses and 60 (12-meter AC) buses, for intracity operations. EveyTrans will procure buses from Olectra Greentech, valued at approximately ₹18 billion (~$198.38 million). The buses will be delivered over 20 months.</p>
<p>Waaree Clean Energy Solutions, a wholly owned subsidiary of solar module manufacturer Waaree Energies, <a href="https://www.mercomindia.com/waaree-to-set-up-2-5-mw-alkaline-electrolyzer-for-zero-footprint-industries" target="_blank" rel="noopener">signed</a> an electrolyzer-as-a-service agreement with green hydrogen solutions company Zero Footprint Industries (ZFI) for a 2.5 MW alkaline electrolyzer to support ZFI’s planned capacity addition in Uttar Pradesh.</p>
<p>Kolkata-based solar module manufacturer Vikram Solar <a href="https://www.mercomindia.com/vikram-solar-to-procure-2-gw-of-crystalline-solar-cells-from-jupiter-international" target="_blank" rel="noopener">entered</a> into an agreement with Jupiter International to procure 2 GW of crystalline solar cells compliant with the Approved List of Models and Manufacturers. The procurement will comprise high-efficiency Tunnel Oxide Passivated Contact and Monocrystalline Passivated Emitter and Rear Cell solar cells. The contract has been valued at approximately ₹20 billion (~$220.43 million).</p>
<p>Sri Lanka-based renewable energy developer WindForce <a href="https://www.mercomindia.com/windforce-secures-order-for-12-standalone-energy-storage-projects-in-sri-lanka" target="_blank" rel="noopener">secured</a> a letter of award from the Ceylon Electricity Board (CEB) to set up 12 standalone battery energy storage system (BESS) projects with a cumulative capacity of 120 MW/480 MWh under a build, own, and operate model. The energy storage projects are part of Sri Lanka’s first grid-scale standalone BESS initiative.</p>
<p>The Ministry of Electricity and Renewable Energy and the Egyptian Electricity Transmission Company (EETC) <a href="https://www.mercomindia.com/egypt-invites-bids-for-500-mw-solar-project-in-western-nile-area" target="_blank" rel="noopener">invited</a> bids for the development of a 500 MW solar power project in the Western Nile area under the build, own, and operate model. The developers will design, finance, construct, own, and operate the project. The last date to submit bids is May 11, 2026. EETC will purchase the generated power under the terms of the power purchase agreement.</p>
<p>The cost of battery storage projects <a href="https://www.mercomindia.com/battery-storage-costs-dropped-to-record-low-in-2025-bnef" target="_blank" rel="noopener">reached</a> all-time new lows in 2025, even as the cost of other renewables saw an increase, according to BloombergNEF’s (BNEF) Levelized Cost of Electricity (LCOE) 2026 report. The report highlighted that the global benchmark cost for a four-hour battery project fell 27% year-over-year to $78/MWh in 2025, a significant drop from battery storage prices in 2009. BNEF said that the LCOE for a four-hour energy storage system stood below $100/MWh in six markets.</p>
<p>The U.S. <a href="https://www.mercomindia.com/us-installed-a-record-58-gwh-of-energy-storage-capacity-in-2025-seia" target="_blank" rel="noopener">added</a> 28 GW/58 GWh of new energy storage capacity in 2025, according to a new report by Solar Energy Industries Association (SEIA). This is the highest-ever energy storage installation in a year. Despite U.S. policies that disincentivized clean energy projects, battery storage projects grew by 30% YoY in 2025. The record figure for installations is four times the number three years ago. In 2025, utility-scale storage projects reached just under 16 GW/50 GWh.</p>


Daily News Wrap-Up: TNGECL Names 1.5 GWh Battery Storage Auction Winners


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					</table><p>Sri Lanka-based renewable energy developer <a href="https://windforce.lk/" target="_blank" rel="noopener">WindForce</a> has secured a letter of award from the Ceylon Electricity Board (<a href="https://www.ceb.lk/" target="_blank" rel="noopener">CEB</a>) to set up 12 standalone battery energy storage system (BESS) projects with a cumulative capacity of 120 MW/480 MWh under a build, own, and operate model.</p>
<p>The energy storage projects are part of Sri Lanka’s first grid-scale standalone BESS initiative, launched by CEB to enhance grid stability and support greater renewable energy integration.</p>
<p>The storage projects involve an investment of LKR20.79 billion (~$66.53 million) and operate over a 15‑year contract period. The project financing is expected to follow an 80:20 debt-to-equity structure.</p>
<p>Eleven of the 12 projects will be fully owned and developed by WindForce, while one project at the town of Vavunathivu will be developed through a consortium between WindForce and renewable energy solutions provider Vidullanka.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-91043 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/02/Picture1-1.png" alt="WindForce's Substation-Wise Battery Energy Storage Projects Allocation in Sri Lanka " width="844" height="549" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/02/Picture1-1.png 844w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/02/Picture1-1-300x195.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/02/Picture1-1-768x500.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/02/Picture1-1-650x423.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/02/Picture1-1-624x406.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/02/Picture1-1-600x390.png 600w" sizes="auto, (max-width: 844px) 100vw, 844px" /></p>
<p>In December, Sri Lanka’s Trincomalee Power Company, a 50:50 joint venture between CEB and India’s NTPC, <a href="https://www.mercomindia.com/sri-lanka-issues-tender-for-50-mw-solar-project-with-bess?utm_source=chatgpt.com" target="_blank" rel="noopener">issued</a> an engineering, procurement, and construction tender for a 50 MW (Phase I) ground-mounted solar photovoltaic power project, along with an energy storage project, at Sampoor in the Trincomalee region. The storage project would have a minimum capacity of 20 MW/20 MWh.</p>
<p>In August, CEB <a href="https://www.mercomindia.com/sri-lanka-invites-bids-for-160-mw-640-mwh-standalone-bess-projects?utm_source=chatgpt.com" target="_blank" rel="noopener">issued</a> an international competitive bidding tender for the development of 160 MW/640 MWh standalone BESS.</p>
<p>Battery storage deployment has grown exponentially, with global installations increasing more than twentyfold in storage capacity over the past five years.  The cost of battery storage projects <a href="https://www.mercomindia.com/battery-storage-costs-dropped-to-record-low-in-2025-bnef" target="_blank" rel="noopener">reached</a> all-time lows in 2025, with the global benchmark cost for a four-hour battery project falling 27% year-over-year to $78/MWh, according to a BloombergNEF report. It said that the levelized cost of energy LCOE for a four-hour energy storage system stood below $100/MWh in six markets. Lower battery pack prices, increased competition among manufacturers, and improved system designs contributed to the rapid decline in battery storage projects.</p>
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WindForce Secures Order for 12 Standalone Energy Storage Projects in Sri Lanka

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