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					</table><p><a href="https://www.mercomindia.com/rumsl-i170-mw-solar-project-neemuch/" target="_blank" rel="noopener"><strong>Rewa Ultra Mega Solar (RUMSL) has issued a request for proposal to develop a 170 MW grid-connected ground-mounted solar photovoltaic project in the Neemuch Solar Park</strong></a> in Madhya Pradesh. The power generated from the project will be procured by Madhya Pradesh Power Management Company and West Central Railway. The last date to submit bids is June 07, 2024. Bids will be opened on the same day. RUMSL / Government of Madhya Pradesh will provide land for the project’s development on the terms and conditions specified in the relevant land use agreement.</p>
<p><a href="https://www.mercomindia.com/cerc-grants-citing-force-majeure-events/" target="_blank" rel="noopener"><strong>The Central Electricity Regulatory Commission relaxed rules, allowing ACME Solar to switch the connectivity of its 300 MW solar power project to the land route</strong></a>, considering their substantial progress and commitment to the project. The Commission also noted that failure to achieve financial closure or compliance with the order would revoke connectivity if the 10% equity release is not attained. ACME Solar Holdings and ACME Sikar Solar submitted a petition under Section 79 of the Electricity Act, 2003. Central Transmission Utility of India was the respondent in the case.</p>
<p><a href="https://www.mercomindia.com/hitachi-energy-1-5-billion-transformer-facility/" target="_blank" rel="noopener"><strong>Hitachi Energy will ramp up its global manufacturing capacity for transformers with a $1.5 billion investment by 2027, as a long queue for grid interconnections</strong></a>, particularly from renewables, is driving up demand. The investment, which comes in addition to a 2020 announcement of a $3 billion injection in manufacturing capacity, will span across Europe, the Americas, and Asia, the company said in a press release. Transformers are a key component for integrating renewables into the grid as they help regulate voltage and ensure grid stability.</p>
<p><a href="https://www.mercomindia.com/us-aims-to-slash-grid-interconnection-months-by-2030/" target="_blank" rel="noopener"><strong>The U.S. Department of Energy has introduced a comprehensive roadmap to expedite the integration of clean energy sources into the national transmission grid.</strong></a> The Transmission Interconnection Roadmap outlines solutions for aligning interconnection processes with the increasing demand for renewable energy resources, which is driven by the rapid and widespread transition to clean energy. The Interconnection Innovation e-Xchange roadmap, released in April 2024, offers a range of solutions to diverse interconnection stakeholders, addressing both short-term and long-term challenges in the transmission system interconnection process.</p>
<p><a href="https://www.mercomindia.com/us-solar-ppa-prices-europe-sees-drop-of-5/" target="_blank" rel="noopener"><strong>Following years of fluctuation in the energy market, power purchase agreement prices in North America were stable during the first quarter of 2024.</strong></a> P25 solar and wind PPA offer prices increased less than 1% during the quarter, according to a recent report from LevelTen Energy. Specifically, P25 solar PPA prices experienced a modest decline of 1.5% over the quarter, while P25 wind prices saw a slight increase of 2.4% LevelTen’s P25 Price Index represents the 25<sup>th</sup> percentile PPA prices. All PPA price data in LevelTen’s report are based on the prices developers offer for PPA contracts, not the transacted PPA prices.</p>


Daily News Wrap-Up: RUMSL Invites Bids to Develop 170 MW Solar Project

<p>U.S.-based renewable transaction infrastructure provider, <a href="https://www.leveltenenergy.com/" target="_blank" rel="noopener">LevelTen Energy</a>, announced that it raised $35 million in Series C funding led by <a href="http://www.ngpetp.com/" target="_blank" rel="noopener">NGP ETP</a>. The company has raised a total of $62.3 million through funding to date.</p>
<p>The company facilitates transactions for renewable energy buyers, sellers, advisors, and financers by delivering the marketplaces, software, standards, and analytics necessary for efficient execution.</p>
<p><a href="https://www.myclimatejourney.co/mcj-collective" target="_blank" rel="noopener">My Climate Journey Collective</a> and the company’s existing investors, including <a href="https://www.myavista.com/" target="_blank" rel="noopener">Avista Development</a>, <a href="https://www.constellation.com/" target="_blank" rel="noopener">Constellation Technology Venture</a>, <a href="https://www.equinor.com/" target="_blank" rel="noopener">Equinor Ventures</a>, <a href="https://www.founderscoop.com/" target="_blank" rel="noopener">Founders’ Co-op</a>, <a href="https://www.preludeventures.com/" target="_blank" rel="noopener">Prelude Ventures</a>, <a href="https://www.techstars.com/" target="_blank" rel="noopener">Techstars</a>, <a href="https://ventures.totalenergies.com/en" target="_blank" rel="noopener">Total Energies Ventures</a>, and <a href="https://www.wireframevc.com/" target="_blank" rel="noopener">Wireframe Ventures</a> – also participated in the funding round.</p>
<p><a href="https://about.google/" target="_blank" rel="noopener">Google</a> had also participated in the funding round as part of its initiative to support innovative solutions that enable businesses, including <a href="https://cloud.google.com/" target="_blank" rel="noopener">Google Cloud</a> consumers, to source 24*7 carbon-free energy.</p>
<p>The company will use the funding to scale its existing renewable energy transaction platform that comprises energy marketplace, asset marketplace, and performance monitoring software.</p>
<p>Apart from this, the funding will be used to develop additional software solutions to enhance clean energy transition, energy transition, real-time load matching technology, project developer services, environmental and social justice scoring systems, and advanced power purchase agreement (PPA) products.</p>
<p>According to LevelTen Energy, its partner network includes over 25 energy advisors and retail electricity providers. The company claims to have the world’s largest online hub for utility-scale renewable energy deals, connecting a range of energy advisors and experienced buyers with more than 500 project developers, owners, and financiers.</p>
<p>LevelTen Energy Marketplace also boasts of delivering access to the world’s largest collection of PPAs, with more than 4,000 offers from 1,300 projects spanning 21 countries in North America and Europe. The platform has facilitated over $5 billion in renewable energy transactions coupled with 3.3 GW of renewable energy deals.</p>
<p>Bryce Smith, chief executive officer (CEO) of LevenTen Energy, said, “In 2018, LevelTen improved the power purchase agreement process with the launch of the LevelTen Energy Marketplace. In 2021, we released LevelTen Asset Marketplace, simplifying the process of buying and selling the projects.”</p>
<p>“LevelTen will advance the industry again with the launch of even more transaction infrastructure products and services vital to accelerating the energy transition, with this new funding. Renewable transactions will become as customary and as efficient as fossil fuel transactions,” Smith added.</p>


Renewable Market Platform LevelTen Energy Raises $35 Million in Series C Funding

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