- In June 2022, 28 new renewable energy tenders were issued with a total capacity of 2,963.15 MW. The largest tenders included a 500 MW solar tender by MSEDCL under the KUSUM scheme in Maharashtra and a 500 MW solar tender by MSEDCL under Phase VII. - GUVNL issued a tender for 500 MW grid-connected renewable energy projects with 250 MWh of energy storage in Gujarat. - Several tenders saw date extensions in June 2022, including SECI's 1200 MW wind tender, PSPCL's 1000 MW solar tender in Punjab, and GUVNL's 700 MW solar tender in Gujarat.

1. JUNE2022
monthly update
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4. 4
Contents
1. Tenders | 5
New RFS Issued | 6
Date extension | 9
Auctions Completed | 11
2. Installed Capacity | 12
3. Monthly RE Generation | 16
4. Investments and Partnerships | 18
5. GTAM Trade Volume| 21
6. Module Price Trends | 23
7. Policies and Regulations | 25

5. 5
Capacity
(MW)
Solar Wind Hybrid
0
100
200
300
400
500
600
700
800
NTPC,
600
MW,
Solar
(EPC),
Pan
India
NTPC,
200
MW,
Solar
(EPC),
Madhya
Pradesh
KSEBL,
65
MW,
Wind,
Kerala
NHDC,
88
MW,
Floating
Solar
(EPC),
Madhya
Pradesh
NTPC,
100
MW,
Wind
(EPC),
Madhya
Pradesh
GSECL,
100
MW,
Wind
(EPC),
Gujarat
MSPGCL,
105
MW,
Floating
Solar,
Maharashtra
MSEDCL,
500
MW,
Solar
Phase
VII
Tranche
III,
Maharashtra,
Jun
2022
GUVNL,
500
MW,
RE
with
250
MWh
ESS
Phase
(XV)
,
Gujarat,
Jun
2022
MSEDCL,
500
MW,
Solar
(Under
KUSUM
scheme
Component
C),
Maharashtra
NLC,
50
MW,
Wind
(EPC),
Pan
India
MPUVNL,
35
MW,
Rooftop
Solar,
Madhya
Pradesh
CIL,
20
MW,
Solar
(EPC),
Jharkhand
CIL,
15
MW,
Solar
(EPC),
Madhya
Pradesh
GSECL,
15
MW,
Wind
(EPC),
Gujarat
DVC,
10
MW,
Solar
(EPC),
Jharkhand
MPUVNL,
8
MW,
Solar
(Under
KUSUM
scheme
Component
C),
Madhya
Pradesh
Others
SECI,
30
MW,
Floating
Solar
(EPC),
West
Bengal
and
Jharkhand
Tenders
• In June 2022, 28 new renewable energy (RE) tenders with a
cumulative capacity of 2963.15 MW were issued. MSEDCL issued
a 500 MW solar tender under Component C of KUSUM scheme in
Maharashtra. In addition, MSEDCL floated a 500 MW solar tender
under Phase VII.
• GUVNL floated a tender for 500 MW grid connected RE projects
with 250 MWh energy storage system (ESS) in Gujarat.
New RFS Issued
Source: JMK Research
Fig: New RE tenders issued in June 2022

6. 6
Table: RFS Issued
Tender Name Technology
Tender
Scope
Capacity
(MW)
Other Details
Mini-
mum
CUF
Commission-
ing timeline
from PPA
signing
Bid
Submission
Date
NTPC, 600 MW,
Solar (EPC), Pan
India, Jun 2022
Utility Scale
Solar
EPC with
Land
600
• EMD - 50 MW to 100 MW
- INR 50 million, 110 MW to
200 MW - INR 100 million,
210 MW to 510 MW - INR
200 million; 520 MW to 600
MW- INR 500 million
- -
14th-
Jul-2022
MSEDCL, 500
MW, Solar Phase
VII Tranche III,
Maharashtra, Jun
2022
Utility Scale
Solar
Project
Develoment
500
• EMD – INR 0.4 million/MW
• PBG – INR 1.1 million/MW
19%
15
months
18th-
Jul-2022
MSEDCL, 500
MW, Solar (Under
KUSUM scheme
Component C),
Maharashtra, Jun
22
Small Scale
Solar
Project
Development
500
• EMD – INR 0.1 million/MW
• PBG – INR 0.5 million/MW
19%
9
months
11th-
Jul-2022
GUVNL, 500 MW,
RE with 250 MWh
ESS Phase (XV),
Gujarat, Jun 2022
RE with ESS
Project
Development
500 with
250
MWh
ESS
• EMD – INR 1 million/MW
• PBG – INR 2.5 million/MW
Wind
– 22%
Solar
– 17%
Hy-
brid –
30%
18
months
30th-
Jul-2022
NTPC, 200 MW,
Solar (EPC),
Madhya Pradesh,
Jun 2022
Utility Scale
Solar
EPC with
Land
200
• EMD - For Capacity of 50
MW: INR 20 million, 60 MW
to 100 MW : INR 50 million,
110 MW to 200 MW : INR 100
million
- -
8th-
Jul-2022
MSPGCL, 105 MW,
Floating Solar,
Maharashtra, Jun
2022
Floating
Solar
Project
Develoment
105 • EMD – INR 1.054 million 19%
15
months
15th-
Jul-2022
NTPC, 100 MW,
Wind (EPC),
Madhya Pradesh,
May 2022
Wind EPC 100 • EMD – INR 100 million - -
27th-
Jun-2022

7. 7
Tender Name Technology
Tender
Scope
Capacity
(MW)
Other Details
Mini-
mum
CUF
Commission-
ing timeline
from PPA
signing
Bid
Submission
Date
GSECL, 100 MW,
Wind (EPC),
Gujarat, May 2022
Wind EPC 100
• EMD – INR 5 million
• PBG – 5% of the contract
value
22% 16 months
12th-
Jun- 2022
NHDC, 88 MW,
Floating Solar
(EPC), Madhya
Pradesh, May
2022
Floating
Solar
EPC 88 • EMD – INR 56 million -
13
months
29th-
Jun-2022
KSEBL, 65 MW,
Wind, Kerala, May
2022
Wind
Project
Development
65
• EMD – INR 0.2 million for 2
MW to 10 MW
INR 0.3 million for 11 MW to
50 MW
INR 0.5 million for 51 MW to
65 MW
22%
18
months
20th-
Jun-2022
NLC, 50 MW,
Wind (EPC), Pan
India, May 2022
Wind EPC 50 • EMD – INR 76.7 million - 15 months
10th-
Jun-2022
MPUVNL, 35 MW,
Rooftop Solar,
Madhya Pradesh,
Jun 2022
Rooftop
Solar
RESCO 35 • EMD – INR 0.1 million/MW -
9
months
13th-
Jul-2022
SECI, 30 MW,
Floating So-
lar (EPC), West
Bengal and
Jharkhand, Jun
2022
Floating
Solar
EPC 30 • EMD – INR 40.2 million - 12 months
1st-
Aug-2022
CIL, 20 MW, Solar
(EPC), Jharkhand,
Jun 2022
Utility Scale
Solar
EPC 20 • EMD – INR 5 million -
9
months
15th-
Jul-2022
GSECL, 15 MW,
Wind (EPC), Guja-
rat, Jun 2022
Wind EPC 15
• EMD – INR 9 million
• PBG – 10% of the contract
price
- 15 months
12th-
Jul-2022
CIL, 15 MW, Solar
(EPC), Madhya
Pradesh, Jun 2022
Utility Scale
Solar
EPC 15 • EMD – INR 5 million
9
months
17th-
Jun-2022

8. 8
Tender Name Technology
Tender
Scope
Capacity
(MW)
Other Details
Mini-
mum
CUF
Commission-
ing timeline
from PPA
signing
Bid
Submission
Date
DVC, 10 MW, Solar
(EPC), Jharkhand,
Jun 2022
Utility Scale
Solar
EPC 10 • EMD – INR 5.27 million - -
28th-Jul-
2022
MPUVNL, 8 MW,
Solar (Under
KUSUM scheme
Component C),
Madhya Pradesh,
Jun 2022
Small Scale
Solar
Project
Development
8
• EMD – INR 0.1 million/MW
• PBG – INR 0.5 million/MW
15%
9
months
12th-
Jul-2022
V.O Chidam-
baranar Port
Authority, 5 MW,
Solar (EPC), Tamil
Nadu, Jun 2022
Utility Scale
Solar
EPC 5
• EMD – INR 5 million
• PBG – 3% of the contract
value
- -
4th-
Jul-2022
PEDA, 5 MW,
Rooftop Solar,
Punjab, Jun 2022
Rooftop
Solar
- 5
• EMD – INR 0.5 million/MW
• PBG – 10% of the work or-
der value
15% -
18th-
Jul-2022
RECFRBL, 3 MW,
Solar (OM), Uttar
Pradesh, Jun 2022
Small Scale
Solar
OM 3
• EMD – INR 0.133 million
• PBG – 10% of the contract
value
- -
28th-
Jun-2022
HPCL, 2 MW,
Solar (EPC), Pan
India, Jun 2022
Small Scale
Solar
EPC 2 - - -
30th-
Jun-2022
CPWD, 1.65 MW,
Solar (EPC), Odis-
ha, Jun 2022
Small Scale
Solar
EPC 1.65
• EMD – INR 2.11 million
• PBG – 3% of the
tendered value
-
9
months
21st-
Jun-2022
Eastern Railway,
1.5 MW, Rooftop
Solar, West Ben-
gal, May 2022
Rooftop
Solar
- 1.5 • EMD – INR 3 million - -
23rd-
Jun-2022
BMC, 1 MW, Roof-
top Solar, Madhya
Pradesh, Jun 2022
Rooftop
Solar
- 1 • EMD – INR 1 million - -
24th-
Jun-2022

9. 9
PBG: Performance Bank Guarantee
EMD: Earnest Money Deposit
Source: JMK Research
Tender Name Technology Tender Scope
Capacity
(MW)
Other Details
Minimum
CUF
Commissioning
timeline from
PPA signing
Bid Submission
Date
SECI, 1200 MW,
Wind Tranche XIII,
Pan India Jan
2022
Wind
Project
Development
1200
• EMD – INR 1.326
million/MW
22% 24 months 4th-Jul-2022
PSPCL, 1000 MW,
Solar, Punjab, Apr
2022
Utility
Scale Solar
Project
Development
1000
• EMD – INR 0.4
million/MW
• PBG – INR 1.18
million/MW
19% 18 months 2nd-Aug-2022
Date
Extension
Source: JMK Research
Table : Date Extension
Tender Name Technology
Tender
Scope
Capacity
(MW)
Other Details
Mini-
mum
CUF
Commission-
ing timeline
from PPA
signing
Bid
Submission
Date
PJTSAU, 1 MW,
Rooftop Solar,
Telangana, Jun
2022
Rooftop
Solar
RESCO 1
• EMD – INR 0.4 million
• PBG – INR 0.75 million
15% -
28th-
Jun-2022
DMRC, 1 MW,
Rooftop Solar,
Delhi, Jun 2022
Rooftop
Solar
RESCO 1
• PBG – INR 1.17 million
• Ceiling Tariff – INR 4.50/
kWh
12% 5 months
11th-
Jul-2022
MANIREDA, 1 MW,
Rooftop Solar,
Manipur, Jun
2022
Rooftop
Solar
- 1
• PBG – INR [Amount (cost
discovered)] lakhs x 3% x
allocated capacity in MW
- 12 months
30th-
Jun-2022

10. 10
Source: JMK Research
Tender Name Technology Tender Scope
Capacity
(MW)
Other Details
Minimum
CUF
Commissioning
timeline from
PPA signing
Bid Submission
Date
PSPCL, 1000 MW,
Solar, Pan India,
Apr 2022
Utility
Scale Solar
Project
Develoment
1000
• EMD – INR 0.4
million/MW
• PBG – INR 1 mil-
lion/MW
• Ceiling Tarff – INR
19% 18 months 1st-Aug-2022
RUMSL 750 MW
Wind Solar Hybrid
Madhya Pradesh
Apr 2022
Hybrid
Project
Develoment
750
• EMD – INR 1.15
million
• PBG – 1.73
• million
30% - 19th-Jul-2022
GUVNL 700 MW
Phase IX Gujarat
Mar 2021
Utility
Scale Solar
Project
Develoment
700
• EMD - INR 0.4
million/MW
• PBG - INR 0.94
million/MW
17% 15 months 30th-Aug-2022
GUVNL, 500 MW,
Wind (Phase III),
Gujarat, May 2022
Wind
Project
Develoment
500
• EMD – INR 1 mil-
lion
15% 18 months 4th-Jul-2022
SECI, 500 MW
with 1000 MWh
BESS, Rajasthan,
Apr 2022
Energy
Storage
System
Project
Develoment
500 MW
with
1000
MWh
ESS
• EMD – INR 0.74
million/MW
• PBG – INR 1.11
million/MW
- 18 months 11th-Jul-2022
MSEDCL, 325
MW, Wind,
Maharashtra, May
2022
Wind
Project
Develoment
325
• EMD – INR 0.1
million/MW
• Ceiling Tariff –
INR 2.65/kWh
- - 5th-Jul-2022
REMCL, 150 MW,
Hybrid, Nov 2021
Hybrid
Project
Develoment
150
• EMD – INR 117.6
million
• PBG – INR 235.4
million
- 18 months 27th-Jul-2022

11. 11
Auctions
Completed
Tender Name
Capacity
tendered
(MW)
Capacity
allotted
(MW)
Mini-
mum
CUF
Commission-
ing Timeline
Winners Details
GUVNL, 500 MW,
Solar Phase XIV,
Gujarat, Apr 2022
500 500 17% 18 months
• Aditya Birla – 300 MW (INR 2.30/kWh)
• Hinduja Renewables – 120 MW (INR 2.30/kWh)
• SJVN – 80 MW (INR 2.30/kWh)
GSECL, 131 MW, Solar
(EPC), Gujarat, Jan
2022
131 131 - 18 months • Prozeal Infra – 131 MW
NTPC, 50 MW, Solar
(OM), Madhya
Pradesh, May 2022
50 50 - - • Param Renewable Energy – 50 MW
Table 1.3 : Auctions Completed
Source: JMK Research

12. 12
Source: MNRE, JMK Research
Note: Solar includes utility scale solar, rooftop solar and off grid/distributed solar
segments
Fig : RE installations in May 2022
Installed Capacity
From January 2022 to May 2022, India added a cumulative RE
capacity of 8228.3 MW.
In month of may 2022, 1791.17 MW of solar and wind capacity was
added, taking the cumulative RE capacity to 113.23 GW.
B
io
Power Small Hydro
S
o
l
a
r
W
i
n
d
1
0%
4%
100%= 113.23 GW
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
Wind
Solar
Capacity
(MW)
Cumulative Installations as of May 31st, 2022 Capacity Installed in May 2022
5
0
%
3
6
%
1613.67
178.3

13. 13
Fig : State wise solar and wind installed capacity in May 2022
In May 2022, Rajasthan added the maximum solar and wind capacity
of 1115.53 MW and 79 MW respectively. While Tamil Nadu installed the
second highest solar capacity with 193.99 MW, followed by Gujarat
(163.32 MW). In terms of wind installations, Gujarat and Karnataka
installed the second and third highest wind capacity of 58.5 MW and
40.5 MW respectively in the country in May 2022.
State wise solar and wind installed capacity in May 2022
Source: MNRE, JMK Research
Note: Solar includes utility scale solar, rooftop solar and off grid/distributed solar
segments
Capacity
(MW)
0
200
400
600
800
1000
1200
Wind
Solar
Others
Karnataka
Kerala
Tamil Nadu
Gujarat
Rajasthan

14. 14
Projects
Developer Technology Tender Name
AC Capacity
(MW)
Tariff
(INR/kWh)
State
Brookfield Renewables Solar
NHPC 2000 MW Solar Pan
India Aug 2019
400 2.55 Rajasthan
O2 Power Solar
SECI 750 MW Solar Tranche II
Rajasthan Mar 2019
250 2.5 Rajasthan
NTPC Solar
SECI 1500 MW Solar CPSU II
Tranche II Pan India Aug 2019
47.52 - Rajasthan
NTPC Solar
NTPC 70 MW Floating Solar
(EPC) Kerala Oct 2018
35 - Kerala
Maruti Suzuki india Solar - 20 - Manesar
NTPC Solar
SECI 1500 MW Solar CPSU II
Tranche II Pan India Aug 2019
15 - Gujarat
Cipla
Solar
(Open access)
- 16 - Maharashtra
Cipla
Hybrid
(Open access)
-
Solar – 9 MW
and Wind –
2.7 MW
- Karnataka
KPI Green Energy
Solar
(Captive)
- 10 - Gujarat
Cleantech Solar
Solar
(Captive)
- 8.5 - Maharashtra
Cleantech Solar
Solar
(Captive)
- 5.3 - Tamil Nadu
Vibgyor Energy Rooftop Solar - 4 - Uttar Pradesh
Table : List of key RE projects commissioned in June 2022

15. 15
Source: Industry news articles, JMK Research
Other key announcements that were made during the month were:
• NHPC awarded the EPC contracts to Adani Infra for producing
600 MW, Tata Power Solar for 300 MW and a joint venture of
Sri Sai will set up 100 MW capacity under Central Public Sector
Undertakings (CPSU) scheme. A.
• Amplus Solar has entered into a long-term renewable energy
agreement with Microsoft for a 100 MW solar project in Rajasthan.
The project is currently under development by Amplus Solar.
Microsoft aims to have 100% renewable energy supply for all its
operations by 2025, including its data centers, buildings, and
campuses.
• ReNew Power has signed a PPA with MSEDCL for a 200 MW
solar project. Wherein, ReNew will supply electricity at INR
2.43/kWh for 25 years. The asset will be in Rajasthan state and
provide electricity to Maharashtra. The project is expected to be
commissioned by Q4 FY24.
• Rewa Ultra Mega Solar Limited (RUMSL) has issued Letters of
award to NHDC, AMP Energy, and SJVN to develop the first part
capacity of the 600 MW Omkareshwar floating solar project in
Madhya Pradesh. The floating solar project is being constructed
in two phases on the reservoir formed by the Omkareshwar dam
across the Narmada River. The first phase of 278 MW capacity is
expected to be completed by September 2023 with an expected
investment of about INR 1,600 crore in the Madhya Pradesh.
Developer Technology Tender Name
AC Capacity
(MW)
Tariff
(INR/kWh)
State
Vakrangee Packaging
LLP
Solar - 3.6 - Chhattisgarh
Cleantech Solar Rooftop Solar - 2.6 - West Bengal
Roofsol Solar Rooftop Solar - 2.66 - West Bengal
APM Terminals
Pipavav
Rooftop Solar - 2 - Gujarat

16. 16
Monthly RE Generation
Source: CEA, JMK Research
Renewable energy sources generated 18597.8 MU in June 2022, down
by nearly 2.6% from May 2022. Wind and solar energy generation
decreased by 5.96% and 1.82% on month-on-month basis in June 2022.
Figure 3.1: Source-wise Renewable Energy Generation (MU) - India
0
2000
4000
6000
8000
10000
12000
Jun-22
May-22
Apr-22
Mar-22
Feb-22
Jan-22
Dec-21
Nov-21
Oct-21
Sep-21
Aug-21
Jul-21
Jun-21
May-21
Apr-21
Mar-21
Feb-21
Jan-21
Dec-20
Nov-20
Oct-20
Sep-20
Aug-20
Jul-20
Jun-20
May-20
Apr-20
Mar-20
Feb-20
Jan-20
Solar
Wind
Other RES
Million
Unit
(MU)
2020 2021 2022

17. 17

18. 18
Investments and Partnerships
Table:Investment and deals in June 2022
Company Name Deal Type Sector Asset Acquired Investor Deal Value
Stakes
Acquired
Name Not Disclosed Acquisition Renewable
Solar – 56.25 MW
and Wind - 471.65
ReNew
Power
$388 million -
AMPYR Renewable
Energy Resources
Eleven
Equity Solar - Biocon Ltd $75 million 26%
Skypower Acquisition Solar -
Torrent
Power
$53.28 million 100%
SolarArise Acquisition Solar - ThomasLloyd Energy $38.5 million 57%
Name Not
Disclosed
Acquisition Renewable
Solar – 56.25 MW
and Wind - 471.65
ReNew Power $388 million -
In June 2022, about $566.11 million was invested in the RE sector. The
Key investments during the month were:
• ReNew Power announced that it has signed definitive agree-
ments to acquire an operating wind and solar portfolio of 527.9
MW. The acquired 527.9 MW of operating wind and solar projects
are spread across Gujarat, Maharashtra, Madhya Pradesh, Karnata-
ka, Rajasthan, Telangana, Kerala, and Tamil Nadu.
• Torrent Power Limited completed the acquisition of the 50 MW
solar power plant from SkyPower for $53.28 million.
• ThomasLloyd acquired a significant stake in SolarArise India
Projects Pvt Ltd. SolarArise currently owns and operates 130 MW
of grid-connected solar power projects in India. ThomasLloyd’s
investment is expected to support the Company’s expansion of its
solar energy capacity by approximately 250 MW.

19. 19
Company Name Deal Type Sector Asset Acquired Investor Deal Value
Stakes
Acquired
AMPYR Renewable
Energy Resources
Eleven
Equity Solar - Biocon Ltd $75 million 26%
Skypower Acquisition Solar - Torrent Power $53.28 million 100%
SolarArise Acquisition Solar - ThomasLloyd Energy $38.5 million 57%
Cleanwin Energy SIX Equity Renewable - Hindalco Industries $7.12 million 26%
SolarSquare Equity
Rooftop
Solar
-
Lowercarbon Capital,
Symphony Asia and
Zerodha founder
Nithin
Kamath’s Rainmatter
$4 million -
Huoban Energy 6 (a
subsidiary of Fourth
Partner Energy)
Equity Solar - Tech Mahindra $0.21 million 26%
GMR Green Energy
Private Ltd
Acquisition Renewable -
GMR Power and Urban
Infra
- 100%
Continuum Green
Energy
Equity Wind - GE Energy - 49%
Source: Industry news articles, JMK Research

20. 20
Other key announcements that were made during the month were:
• Gail India is planning to invest INR 6,000 crore in the next three years
in renewable energy sector. The investment can go up by an addition-
al INR 20,000 crore by 2030. The company is aiming for almost 3 GW
of renewables capacity by 2030.
• SJVN is also planning to invest over INR 1,000 crore to set up three re-
newable energy projects in Uttar Pradesh. The two solar projects with
a capacity of 75 MW each will be set up at villages Parasan and Gurha
in district Jalaun. The third one of 50 MW solar power project will be
set up at village Gujarai in Kanpur Dehat.
• A group of 16 banks led by the State Bank of India (SBI) have sold
more than INR 8,000 crore of Suzlon Energy loans to the Rural Elec-
trification Corp (REC) and Indian Renewable Energy Development
Agency (IREDA).
• Inox Wind announced that it has raised over INR 400 crore by issuing
equity shares and convertible warrants. Inox Wind has also an-
nounced that it has completed the allotment of equity shares and
convertible warrants worth INR 402.50 crore, at an issue price of INR
126 and INR 132, respectively.
• Inox Green Energy Services has filed fresh preliminary papers with
capital markets regulator Sebi to raise INR 740 crore through an Initial
Public Offering (IPO).
• PFC has successfully listed its maiden 300 million euro 1.841%-euro
green bonds on Luxembourg Stock Exchange (LSE), which is the
largest green bond listing platform.
• Uttar Pradesh government receives an investment proposals of INR
4782 crores in the renewable energy segment. There are 23 projects
in the renewable energy sector coming up in 21 districts.
• The Ontario Teachers’ Pension Plan (OTPP) is in discussion to acquire
a stake of about 49% in Mahindra Susten. OTPP is likely to pay INR
2,300 crore for the stake, valuing the company at INR 4,600 crore,
inclusive of debt.
• The World Bank has approved an additional $165 million to accelerate
the adoption of rooftop solar by residential customers. The funding
will directly finance 450 MW of residential rooftop solar systems and
consists of a $150 million loan from the International Bank for Recon-
struction and Development (IBRD) and $15 million from the IBRD
Fund for Innovative Global Public Goods Solutions.

21. 21
GTAM TradeD volume
The IEX and PXIL together traded a total of 250.64 MU in GTAM in
June 2022, which is 44% lower than the volume traded in May 2022.
The average trade price in IEX-GTAM for June 2022 was INR 7.18/kWh,
while for PXIL it was INR 7.16/kWh. This is about 4.1% and 17.7% lower
than the previous month’s prices.
Fig : IEX GTAM traded volume and average traded price trend
Source: IEX, PXIL, JMK Research
0
100
200
300
400
500
600
700
800
Jun-22
May-22
Apr-22
Mar-22
Feb-22
Jan-22
Dec-21
Nov-21
Oct-21
Sep-21
Aug-21
Jul-21
Jun-21
May-21
Apr-21
Mar-21
Feb-21
Jan-21
Dec-20
Nov-20
Oct-20
Sep-20
Aug-20
0
2
4
6
8
10
12
Trade
Volume
(Million
Units)
Average
Trade
Price
(INR/kWh)
IEX-GTAM (Trade Volume)
IEX-GTAM (Average Trade Price) PXIL-GTAM (Average Trade Price)
PXIL-GTAM(Trade Volume)

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Module Price Trends
Price for global mono PERC modules have remained same in June
2022.
Fig: Solar Modules Price trends
Source: PVInfoLink, JMK Research
Prices
(USD/Wp)
0.110
0.129
0.148
0.167
0.186
0.205
0.224
0.243
0.262
0.281
0.300
Jun-22
May-22
Apr-22
Mar-22
Feb-22
Jan-22
Dec-21
Nov-21
Oct-21
Sep-21
Aug-21
Jul-21
Jun-21
May-21
Apr-21
Mar-21
Feb-21
Jan-21
Dec-20
Nov-20
Oct-20
Sep-20
Aug-20
Mono PERC modules (Global)

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JMK Research carried out price survey from domestic suppliers
for June 2022 and as per the responses received, the all-inclusive
domestic module prices till project site (including freight charges,
GST etc) for various categories are:
• In June 2022, the price for mono PERC 400 Wp modules was INR
33.4/Wp, up by around 1.61% as compared to INR 31/Wp in May 2022.
• While comparing on m-o-m basis, the prices for mono PERC 500
Wp modules and Polycrystalline 330 Wp modules have remained
same in June 2022.
The domestic solar module manufacturers further expected that the
domestic module prices will increase by around 3% next month.
Figure: Average price trend of domestic modules
Average prices for domestic modules in June 2022
0
5
10
15
20
25
30
35
40
45
Jun-22
May-22
Apr-22
Polycrystalline 330 Wp Series
Mono PERC 500 Wp Series
Mono PERC 400 Wp Series
Module
Price
(in
INR/Wp)
Source: JMK Research

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Policies and Regulations
Central Level Regulatory Updates
Policy Name
Issuing
Agency
Date of Issue
Ministry of Power issued Electricity (Late Payment Surcharge and Related Matters) Rules,
2022
MoP 3rd-Jun-2022
The Electricity (Promoting Renewable Energy through Green Open Access) Rules 2022”
gets finalized by MoP
MoP 6th-Jun-2022
CERC approves the introduction of additional Term Ahead Contracts and Green Term
Ahead Contracts beyond T+11 days at IEX
CERC 7th-Jun-2022
PXIL introduce month ahead (up to 3 months) contracts on its platform CERC 7th-Jun-2022
CERC issued (Connectivity and General Network Access to the inter-State Transmission
System) Regulations, 2022
CERC 7th-Jun-2022
CERC rejects ACME Solar’s request for extension of SCOD date for its solar projects CERC 8th-Jun-2022
MNRE Issues Revised RLMM List for Wind Turbines MNRE 13th-Jun-2022
Anti-dumping duty imposed by MoF on fluoro backsheets used in solar modules imported
from China
Ministry of
Finance
15th-Jun-2022
Nomination of third party bid process coordinator for the revised scheme for flexibility in
generation and scheduling of thermal/hydro power stations through bundling with RE
and Storage Power 2022
MoP 17th-Jun-2022
CERC directed HPEL to run daily and weekly contracts on uniform price step auction CERC 27th-Jun-2022
CERC approves Tripartite Power Sale Agreement between SECI, APDISCOMS and GoAP,
for purchase of 7000 MW Solar Power
CERC 28th-Jun-2022
CERC extend the period for quoting prices in the range of INR 0 to 12/kWh on all market
segments including TAM and GTAM till September 2022
CERC 30th-Jun-2022

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State Level Regulatory Updates
Policy Name
Issuing
Agency
State Date of Issue
GERC permits net metering for rooftop solar system of 1 kW to 1 MW GERC Gujarat 31st-May-2022
HERC approves the PSA for procurement of 800 MW ISTS connected Wind
Solar Hybrid Power under Tranche IV scheme of SECI
HERC Haryana 9th-Jun-2022
Karnataka Discom asked to compensate the losses of open access developer
as per the agreement
KERC Karnataka 15th-Jun-2022
MERC compensates developer for Change in Law claims for BCD SGD MERC Maharashtra 17th-May-2022
MERC accords its approval for procurement of 15.85 MW on long term basis
from wind generator
MERC Maharashtra 7th-Jun-2022
Maharashtra Commission provides additional time to a small hydro power
plant to prove its captive status
MERC Maharashtra 25th-Jun-2022
Punjab state commission approves 16 MW of solar power procurement PSERC Punjab 1st-Jun-2022

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28. 28
YBRI
OLAR
IND
PROJECTS
M
A
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K
E
T
S
H
A
R
E
S
T
A
T
E
P
R
O
F
I
L
E
S
POLICIES
OPEN ACCESS
MARKET
R
O
O
F
T
O
P
M
A
R
K
E
T
TENDERS
P
V
M
A
N
U
F
A
C
T
U
R
I
N
G
P
L
A
Y
E
R
P
R
O
F
I
L
E
S
P
R
I
C
E
T
R
E
N
D
S
Developers, Module suppliers,
Inverter suppliers, Turbine
suppliers
2500+ solar and 10,000+ wind projects
with details of Developer, Plant
capacity, location, power off-taker,
equipment supplier names etc.
Installation trends, Projects,
tender participation, key
equipment suppliers
(300+ policies all central and state
policies, regulations, orders
summary, actual pdf documents)
(350+ tenders with status of all ongoing
tenders, amendments and auctions
across the solar,wind, rooftop, hybrid and
storage tenders in India)
Leading solar cell and module players market
share, Global Vs. Indian module production trends,
BOM cost analysis, import export trend etc.)
(Installation trends,
Projects, tender
participation, key
equipment suppliers
Monthly module
price trends of
Multi and Mono
perc modules
Landed cost, Cross-subsidy
surcharge, State-wise player-wise
corporate PPA market size etc.
Capacity addition,
Tariff trends,
Leading players
market share etc.
ONLINE
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29. 29
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