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Sprng Energy, AMPIN, Juniper, ReNew, Avaada Win NTPC’s 1 GW Hybrid Auction

Sprng Energy, AMPIN Energy Transition, Juniper Green Energy, ReNew Solar Power, and Avaada Energy have won NTPC’s auction for the supply of 1,000 MW power from inter-state transmission system (ISTS)-connected wind-solar hybrid pow...

April 17, 2024

Mercom Research Focus

As ISTS Waiver Nears End, Developers Need Extension Amid Lack of Substations

As the deadline for the Inter-State Transmission System (ISTS) charges waiver approaches, additional substations are critical to ensure the smooth facilitation of renewable energy projects. The government has extended the ISTS cha...

April 16, 2024

Mercom Research Focus

Solar Auctions Surge by 229% in Q1 2024, Tender Activity Up 122%

Auctioned solar capacity in India surged to over 25 GW in the first quarter (Q1) of 2024 from 820 MW in Q1 2023, primarily due to the new bidding guidelines mandating that auctions be conducted within 110 days of bid submission da...

April 17, 2024

Other

BJP, Congress Bet Big on Renewables in 2024 Election Manifestos

Ahead of the seven-phase elections to the Lok Sabha, India’s lower house of Parliament, starting April 17, 2024, the two major political parties in the fray have committed themselves to implementing a plethora of energy transition...

April 15, 2024

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Biofuels Firm GPS Renewables Raises $50 Million in Debt Financing

Bengaluru-based biofuels firm GPS Renewables has secured $50 million in debt financing from a consortium of banks and non-banking financial companies to accelerate the nationwide rollout of its Compressed Biogas (CBG) and Renewable Natural Gas (RNG)...

April 17, 2024

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Global Wind Installations Reached 1 TW Milestone in 2023

Global cumulative wind power capacity surpassed the 1 TW mark in 2023, achieving a year-over-year (YoY) growth of 13%, according to the Global Wind Energy Council’s (GWEC) Global Wind Report 2024. Onshore wind witnessed 106 GW of capacity...

April 17, 2024

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Funding and M&A Roundup: Nexamp Secures $520 Million

From: Mercom Capital Group Nexamp, a developer of solar and storage projects, secured $520 million in a funding round led by Manulife Investment Management, alongside existing investors Diamond Generating Corporation and Generate Capital. The...

April 17, 2024

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Project Finance Brief: Arevon Secures $352 Million for Posey Solar Project

From: Mercom Capital Group Arevon Energy, a solar and storage project developer, has secured $352 million in financing for the construction and development of 228 MW of the Posey Solar Project in Posey County, Indiana. The project is expected to be...

April 17, 2024

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Indian Oil Issues Empanelment Tender for Solar Power Projects

Indian Oil Corporation (IOCL) has invited expressions of interest to empanel vendors/contractors for solar power projects at its locations and retail outlets. The last date for submission of applications is May 8, 2024. The scope of the work...

April 16, 2024

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Southern Railway Seeks Bids for 1.2 MW Rooftop Solar Projects in Chennai

The Southern Railway has invited bids for the installation of 1.2 MW rooftop solar projects at various locations in Perambur, Chennai, under the renewable energy service company (RESCO) model. The bids open on May 7, 2024, and the last date to...

April 16, 2024

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Husk Secures $4 Million from Electrifi to Scale up Mini Grids in Rural India

Husk Power Systems, a decentralized solar-hybrid mini-grids provider, has secured a $4 million investment in debt financing from Electrifi. This impact investment facility will enable the company to accelerate its efforts to provide clean energy...

April 16, 2024

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Doubling Transmission Capacity of Existing Grid Through Reconductoring: Report

Advances in grid technologies offer promising solutions to augment the existing transmission infrastructure swiftly and cost-effectively. One such solution highlighted by a recent report by the non-profit organization GridLab is the technology of...

April 16, 2024

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