A week after rejecting the sole bid received – from Azure Power – for its manufacturing-linked 10 GW solar procurement, the government has trimmed the size of the ill-fated exercise by more than two-thirds.

State-owned Masdar Clean Energy is in talks to acquire a 30-35% stake in Hero Future Energies. With the stake sale, the renewable energy arm of Hero Group expects to raise $300-350 million for its expansion into global markets, according to reports.

EV sales retreated to a mere 1,200 units in the 2018 financial year, but electric two-wheeler sales rose 138%, to 54,800 units, according to research and consultancy group Wood Mackenzie.

Delhi-based developer Azure had bid for a 2 GW project on a single site – plus 600 MW of manufacturing capacity – as part of a much-hyped national 10 GW manufacturing-linked tender. The government has decided to reject the bid because it says the quoted price is unreasonable.

The government may impose anti-dumping duty of $114.58 per tonne on tempered solar glass imports to provide a level playing field to domestic manufacturers.

The procurement will be worth an estimated $2.25 billion, and will stipulate the use of 1.2 GW of Indian-made equipment. The power generated will replace 4 GW of coal-fired electricity consumption used by the railways.

Global Infra Partners, KKR, Brookfield, I Squared Capital and Macquarie are reported to be among those eyeing the renewable energy assets of debt riddled Infrastructure Leasing and Financial Services.

Known as the “roof of the world,” the scenic Ladakh region of the Indian state of Jammu and Kashmir could soon host the world’s largest single-location PV plant.

India’s leading infrastructure finance company expects to generate up to $1.14bn from wind and solar asset sales.

Of that colossal sum, 350 GW would be for solar. India currently has installed renewable energy capacity of 75 GW with a further 46 GW under implementation.