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					</table><p><a href="https://www.mercomindia.com/solarpack-apraava-avaada-renew-ntpcs-solar-auction" target="_blank" rel="noopener"><strong>Anboto Solar (Solarpack), Apraava Energy, Avaada Energy, and ReNew Solar Power (ReNew) were declared winners in NTPC’s auction to set up 1,500 MW of interstate transmission system</strong>&#8211;</a>connected solar power projects (Tranche-I) across India. Anboto Solar quoted the lowest tariff of ₹2.60 (~$0.0312)/kWh to win 300 MW capacity. Avaada and Apraava quoted a tariff of ₹2.65 (~$0.0318)/ kWh to win 500 MW and 300 MW, respectively. ReNew won 400 MW of the quoted 600 MW capacity at ₹2.65 (~$0.0318)/ kWh. The entire 1.5 GW capacity was allotted in the auction.</p>
<p><a href="https://www.mercomindia.com/energy-trading-iex-fell-december-23" target="_blank" rel="noopener"><strong>The Indian Energy Exchange traded 232 million units (MU) of green energy in December 2023, a 38% year-over-year (YoY) drop from 377 MU.</strong></a> The segment achieved a volume of 609 MU during the third quarter (Q3) of the financial year (FY) 2023-24, a 46% YoY drop from 1,130 MU. The Green Day-Ahead Market (GDAM) segment recorded trading of 216.6 MU, a 10% YoY drop compared to 241 MU. The segment saw participation from 187 market participants, achieving a weighted average price of ₹4.86 (~$0.058)/kWh. The GDAM segment achieved a volume of 579.6 MU during Q3 FY24.</p>
<p><a href="https://www.mercomindia.com/cerc-allows-compensation-developer-due-to-gst-rate-change" target="_blank" rel="noopener"><strong>The Central Electricity Regulatory Commission has allowed a renewable energy developer to claim compensation to offset the financial and commercial impact of change in law events</strong> on</a> account of an increase in the rates of goods and service tax. It said the developer is also eligible for carrying costs calculated at the lowest of the actual interest rate, the renewable energy tariff regulations rate, or the late payment surcharge rate in the power purchase agreement.</p>
<p><strong><a href="https://www.mercomindia.com/gail-trualt-announce-72-million-cbg-jv" target="_blank" rel="noopener">Natural gas company GAIL (India) and ethanol producer TruAlt Bioenergy have announced an investment of $72 million to set up Compressed BioGas (CBG) plants through a joint venture.</a> </strong>The term sheet signed by the two would ensure GAIL’s participation in TruAlt’s joint venture company, Leafiniti Bioenergy, the owner and operator of one of the country’s biggest CBG plants. TruAlt’s and GAIL’s shareholding in the venture will be 51% and 49%, respectively. The investment, which will be funded through a combination of debt and equity, will be subject to requisite approvals.</p>
<p><a href="https://www.mercomindia.com/agencies-tender-35-51-gw-renewables-fy24-trajectory" target="_blank" rel="noopener"><strong>The designated Renewable Energy Implementing Agencies (REIA) by the Ministry of New and Renewable Energy (MNRE) issued 35.51 GW of project tenders until December 2023</strong>, against the 50</a> GW target for FY 2023-24. The MNRE shared the information in its year-end review published recently. In April 2023, MNRE issued an agency-wise bidding calendar for the REIAs – the Solar Energy Corporation of India, NTPC, NHPC, and SJVN – to deploy 50 GW of renewable energy projects every financial year till FY 2027-28.</p>


Daily News Wrap-Up: NTPC’s 1,500 MW Solar Auction Results


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					</table><p>Natural gas company <a href="https://www.gailonline.com/" target="_blank" rel="noopener">GAIL (India)</a> and ethanol producer <a href="https://www.trualtbioenergy.com/" target="_blank" rel="noopener">TruAlt Bioenergy</a> have announced an investment of $72 million to set up Compressed BioGas (CBG) plants through a joint venture.</p>
<p>The term sheet signed by the two would ensure GAIL’s participation in TruAlt’s joint venture company, <a href="https://leafiniti.com/" target="_blank" rel="noopener">Leafiniti Bioenergy,</a> the owner and operator of one of the country’s biggest CBG plants.</p>
<p>TruAlt&#8217;s and GAIL’s shareholding in the venture will be 51% and 49%, respectively. The investment, which will be funded through a combination of debt and equity, will be subject to requisite approvals.</p>
<p>“CBG has emerged as a viable alternative to imported fossil natural gas. The signing of the term sheet is a step in the right direction considering the emphasis on cleaner and greener fuel,” said Rajeev Kumar Singhal, GAIL’s Director of business development.</p>
<p>In 2021, the company <a href="https://www.mercomindia.com/gail-expands-renewables-portfolio" target="_blank" rel="noopener">began</a> its foray into ethanol and hydrogen generation during a bid to expand its renewables portfolio.</p>
<p>The joint venture is expected to annually process nearly 600 million kg of organic waste in the form of agricultural residue, sugarcane press mud, spent waste that is generated during ethanol production, and other decomposable waste to produce 33 kg of CBG.  It will also produce 20 kg of Solid Fermented Organic Manure (SOFM) and 30 kg of Liquid Fermented Organic Manure.</p>
<p>With each unit producing 100,000 kg of CBG daily, the companies expect the joint venture to create a robust ecosystem for the production of CBG from diverse waste and biomass sources.</p>
<p>“We have been spearheading the production of ethanol and various biofuels since 2012 to advocate for more sustainable energy practices. TruAlt Bioenergy has emerged as one of the largest contributors to India’s Ethanol Blended Program (EBP). Through this partnership, we aim to create a robust ecosystem for CBG in India, allowing for a smooth transition to economical and ecological sources of energy,” said Vijay Narahari, Founder and Managing Director.</p>
<p>Last year, the Ministry of New and Renewable Energy <a href="https://www.mercomindia.com/mnre-targets-over-15000-phase-ii-of-biogas-program-for-fy24" target="_blank" rel="noopener">allotted</a> physical targets to the biogas program implementing agencies (PIAs) for establishing small biogas projects under the Biogas Program Phase II for the fiscal year 2023-24.</p>


GAIL and TruAlt Announce $72 Million Compressed Biogas Joint Venture

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