SOLAR PROJECTS
JSW Energy, SJVN sign PPA for 700 MW solar project in Rajasthan
Pritam Singh, Singapore's Leader of Opposition and of Indian-origin, was re-elected as secretary-general of the Workers' Party (WP) on Sunday. He leads a newly elected Central Executive Committee (CEC) chaired by Sylvia Lim, comprising 14 members. Singh, who has held the position since 2018, was returned unopposed. The CEC, elected for a two-year term, is gearing up for Singapore's upcoming general election, possibly in November this year.
Congress targets PM over report on Adani group 'taking' Chinese help in solar project
Congress leader Jairam Ramesh criticized Prime Minister Narendra Modi on Saturday, pointing to a report that the Adani Group has selected eight Chinese companies for its solar manufacturing project. Ramesh emphasized the need for a strategy to reduce India's dependence on China and ensure taxpayer money does not benefit Chinese firms.
NHPC, ENGIE sign pacts for two 200 MW solar projects in Gujarat
State-owned NHPC and energy solutions provider ENGIE have signed power purchase agreements (PPAs) with Gujarat Urja Vikas Nigam Ltd (GUVNL) for two 200 MW solar projects. NHPC's project will be located within Gujarat State Electricity Corporation's renewable energy park at Khavda, with an estimated cost of Rs 846.66 crore and a completion period of 15 months from the PPA execution date.
Pint-sized IPOs become lottery ticket as small investors make up to 1,500% return
The frenzy around SME IPOs driven by retail investors seeking high returns raises concerns about an overheated market and potential bubbles. Despite the success stories, caution is advised as valuations may not offer sufficient margin of safety in the current environment.
JSW Energy inks power purchase agreements via its arms for 1,325 MW renewable projects
JSW Energy has signed power purchase agreements with subsidiaries for wind and solar projects, totaling 1,325 MW. This brings the company's total locked-in capacity to 13.6 GW. The agreements account for 36% of the company's pipeline capacity, aiming to achieve 20 GW capacity by 2030.
India powers up energy network for its hotspots
The govt is taking steps to ensure power projects, including renewable energy sources like wind turbines and solar panels, can operate effectively in the face of intense heatwaves in India. Actions involve enhancing heat tolerance levels, addressing peak power demand, upgrading transmission equipment, and implementing measures like proper ventilation in substations and transformer yards.
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Waaree Energies bags order to supply 280 MW solar modules to Mahindra Susten
Waaree Energies has secured a 280 MW solar module supply order from Mahindra Susten. The deliveries will start in December 2024. The move comes to support the Mahindra Susten's renewable energy projects in Bikaner, Rajasthan. The agreement involves supplying advanced ELITE Series N-Type TopCon 580Wp modules known for their efficiency.
Gensol Engineering bags another BESS project from GUVNL
Gensol Engineering secures an additional 250 MW/500 MW Battery Energy Storage System Project from GUVNL, increasing its order book to Rs 3,100 crore.
IFC to fund $105 mn for Brookfield’s Bikaner Solar Power Project
IFC has committed $105 million to finance a 550 MW solar power project in Bikaner, Rajasthan by Brookfield Asset Management, using long-term debentures. This marks IFC's first Asia-Pacific investment with a hybrid offtake structure selling power to C&I consumers and the merchant market. This partnership aims to showcase renewable energy viability, support India's green energy corridor, and drive clean energy uptake. Brookfield plans to expand renewable investments in India, in alignment with IFC's goal of increasing market competitiveness and reducing carbon footprint.
Rajasthan CM approves allotment of 4,780 ha to set up 4 solar projects
Under the proposal, Rajasthan Solar Park Development Company is set to receive 4,780 hectares for the construction of three solar parks totaling 2,450 MW in Bikaner district. Additionally, NTPC Renewable Energy Ltd will be allotted about 910 hectares to establish a 500 MW solar project in Phalodi district. The solar parks in Bikaner district will consist of two 1,000 MW parks and one 450 MW park.
Assam: Janata Bhawan solar project inaugurated; becomes first civil secretariat in India to rely fully on solar power
Chief Minister Himanta Biswa Sarma inaugurated the Janata Bhawan Solar Project, a 2.5-Mw power generation capacity grid connected rooftop and ground-mounted solar PV system. The project will generate an average of 3 lakh units of electricity monthly, with an investment of Rs. 12.56 crore expected to be recovered within four years. The project will make the Assam Secretariat Complex the first civil secretariat in the country to rely entirely on solar generated electricity for daily consumption.
Construction of 1,000-Mw Solar Power Project in Karbi Anglong will begin shortly: Assam CM Himanta Biswa Sarma
Assam Chief Minister Himanta Biswa Sarma announced the upcoming construction of a 1,000-MW Solar Power Project in Karbi Anglong. This comes after the laying of the foundation stone for a 25-MW solar power generation project at the Namrup Thermal Power Station in Dibrugarh district. The joint venture between Assam Power Generation Corporation and Oil India Limited will cost Rs. 115 crores and is expected to produce 50 million units of electricity annually upon completion in July 2025.
ACME ties up Rs 5,600 cr loan for green energy project in Andhra Pradesh
The projects will have the ability to supply power nationwide during peak hours without disruptions. ACME, ReNew Power, Hero Future Energies and Amp Energy won parts of the tender.
Builders must provide for rain harvesting, solar energy to make housing societies sustainable: Govt
Naredco President G Haribabu regretted that the real estate sector still does not have as many women entrepreneurs as required for its potential because their participation is still about 8-10 per cent, whereas in other professions such as medical and nursing, women's participation reaches almost 40 per cent of the total capacity.
Gensol Engineering emerges successful bidder for Rs 1,340-cr battery energy storage project
The project will supply electricity on an 'on-demand' basis to Gujarat State's DISCOMs during peak and off-peak hours, thereby extending renewable energy availability beyond solar hours, fulfilling energy storage purchase obligations, and enhancing grid resilience, a company statement said.
Waaree Energies supplies 68 MW solar modules to Gensol Engineering
Waaree Energies provided 68 megawatt solar modules to Gensol Engineering for a solar PV project, including bi-facial modules. The Chairman highlighted the project's importance in advancing a greener future and supporting economic growth through reduced carbon emissions and job creation in the renewable energy sector. Waaree Energies is a major Indian solar PV module manufacturer.
JSW Energy begins construction of 1 GWh battery energy storage project in Rajasthan
The project will be developed under a Build Own Operate and Transfer (BOOT) mechanism and will be transferred to the off-taker after 12 years, the company said, adding that it had bagged the project from Solar Energy Corporation of India Limited (SECI) recently.
JSW Energy begins construction as part of its foray into battery storage services
JSW Energy has started construction on a Battery Energy Storage Project (BESS) to enter the energy storage services business, enabling the storage and release of renewable energy. They were awarded a 1.0 GWh battery storage project by SECI, with commissioning expected by June 2025. The company is also developing green hydrogen and steel projects, aiming to achieve 20 GW generation capacity and 40 GWh energy storage capacity by 2030.
Six civic bodies likely to debut on Bond Street by next month
Nashik, Visakhapatnam, Kanpur, Surat, Varanasi, and Prayagraj are likely to issue municipal bonds by July with a fundraise of Rs 100-300 crore at 7.9-8.3% coupon rate. Municipal bodies have raised nearly Rs 3,000 crore from the bond market in last seven years
KPI Green Engineering bags orders worth Rs 351 cr
KPI Green Engineering secures Rs 351.35 crore orders for railway track fencing crash barriers, solar projects, and electricity transmission line towers.
Maruti Suzuki to invest Rs 450 crore over the next 3 years on renewable energy initiatives
Maruti Suzuki India plans to invest Rs450 crore in renewable energy initiatives like solar power and biogas over the next three years. The company has commenced production at its biogas plant at its Manesar facility by harnessing food waste and Napier grass resources.
Avaada Energy secures Rs 315 crore finance for captive solar project in Karnataka
Avaada Energy secured Rs 315 crore financing from Aseem Infrastructure Finance ltd (AIFL) for a solar project in Karnataka. It will be developed under a long-term captive Power Purchase Agreement (PPA) with Karnataka Milk Federation (KMF). The funding from AIFL demonstrates Avaada's project financing capability and strategy. The project, located in Kalaburagi district, is expected to be completed in Q3 FY25.
India adds record 10 GW of solar capacity in Q1 2024, marking almost 400 pc YoY increase
This figure represents an almost 400 per cent year-over-year (YoY) increase compared to the over 2 GW installed in Q1 2023, as per the recent Q1 2024 India Solar Market Update from Mercom India Research.
Avaada Energy bags 1,050 MWp solar project
Avaada Energy has won a 1,050 MWp solar project through an NTPC-conducted auction, marking the largest single bid secured in the tender. The project, awarded at a tariff of INR 2.69 per kWh, is to be completed within 24 months of signing a 25-year Power Purchase Agreement (PPA). This achievement brings Avaada's portfolio to 15 GW in India.
Peak power demand hit 229.6 GW on Saturday
India's peak power demand hit 229.6 GW on May 18 during a severe heatwave, meeting the estimated 235 GW. Last year's peak was 243 GW in September despite monsoon deficits. Maximum temperatures reached 46 degrees Celsius in affected regions, leading to high electricity demand.
Waaree Energies, Ecofy partner to offer finance for solar rooftop projects
Through the initiative, the company aims to accelerate the solarisation of over 10,000 rooftops across households and MSMEs (Micro, Small & Medium Enterprises).
L&T's power transmission, distribution business bags multiple orders in India, overseas
Floating solar projects involve mounting solar modules on structures that float in a water body, typically a reservoir/lake/abandoned quarry. Compared to ground-mounted solar plants, floating solar plants do not require land acquisition and typically involve less civil work.
NTPC Group installed capacity crosses 76GW mark; begins operation of 57-MW Rajasthan solar project
NTPC Group, a state-owned power giant, has surpassed the milestone of 76 GW in installed power generation capacity. This achievement follows the commissioning of a 57 MW solar power energy capacity in Rajasthan. The first part of the Anta Solar PV Project, totaling 57 MW out of 90 MW, has been declared commercially operational as of April 26, 2024.
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