Green Prairie Energy (EverGreen Power), Apraava Energy, and SJVN Green Energy emerged winners in Solar Energy Corporation of India’s auction for 1.2 GW of the interstate transmission system connected wind power projects (Tranche-XIV). Green Prairie Energy, a special-purpose vehicle of EverGreen Power, won 190 MW by quoting a tariff of ₹3.18 (~$0.038)/kWh. Apraava Energy and SJVN Green Energy won 300 MW and 200 MW quoting a tariff of ₹3.24 (~$0.039)/kWh each.

Solar Energy Corporation of India has invited bids for the selection of a consultancy firm for owner-engineer services for a 100 MW ground-mounted solar power project along with a 40 MW/120 MWh battery energy storage system in Chhattisgarh and a 100 MW floating solar power project in Jharkhand. Bidders should be aware that this tender combines two distinct projects.

India’s solar module production incentive program has been hailed as a game-changer for domestic manufacturing. However, factors like the lack of clarity around polysilicon, managing the manufacturing cost gap with Chinese modules, and the lack of advanced technology are often overlooked. The ambitious 280 GW solar power installations target set for 2030 needs backing from robust domestic manufacturing, which continues to depend on government incentives to compete with its Chinese counterparts.

The Ministry of Power in India has issued guidelines for the tariff-based competitive bidding process for procuring firm and dispatchable power from grid-connected renewable energy projects with energy storage systems. The objective is to provide reliable and predictable renewable power to distribution companies while addressing the challenges posed by the intermittent nature of renewable energy and low-capacity utilization of the transmission system.

China-based solar module manufacturer JA Solar has unveiled its plans to establish a manufacturing unit in the Ordos High-Tech Zone, aiming to produce 30 GW ingots, 10 GW silicon wafers, and 10 GW modules annually. The new unit, with a total price of approximately ¥6.02 billion (~$870.1 million), received thorough assessment and endorsement during a meeting held by the company’s sixth board of directors.

Gujarat-based power company Torrent Power has raised ₹6 billion (~$72.7 million) through the issuance of non-convertible debentures on a private placement basis. The company has issued and allotted 60,000 Series 11 (series 11A- 11F) Secured, Rated, Listed, Taxable, Non-Cumulative, Redeemable, and Non-Convertible Debentures of ₹100,000 each (~$1,212).

Bharat Sanchar Nigam has invited bids for selecting project developers to set up 10 MW of grid-connected rooftop solar projects on its buildings across various states under the renewable energy service company model. The last date to submit the bids is June 28, 2023. Bids will be opened on June 30. The bidder must submit ₹500 (~$6.07)/kW of the quoted capacity as an earnest money deposit.

NTPC Renewable Energy, a wholly owned subsidiary of NTPC,  has invited bids for the appointment of consultants to assess potential floating solar power capacities in different states and union territories of India. The select consultant will be responsible for conducting a floating solar potential study in the specified states of India, which includes Andhra Pradesh, Tamil Nadu, Karnataka, Puducherry, Andaman & Nicobar, and Maharashtra.

Amp Energy India, an integrated renewable energy power producer, has secured up to $250 million in funding. The financing round was led by the Sumitomo Mitsui Banking Corporation of Japan, the Intermediate Capital Group, and the Asian Infrastructure Investment Bank. The funding secured by Amp Energy India will enable the company to expand its operations further, accelerate its growth strategy, and leverage the increasing demand for renewable energy solutions across India.

The Solar Energy Corporation of India has signed a power sale agreement with the Grid Corporation of Odisha GRIDCO, the state-owned power distribution company, for 600 MW of wind power under Tranche XIII of the Inter-State Transmission System (ISTS) Connected Wind Power Projects program. In December last year, SECI announced the auction winners for 1.2 GW ISTS-connected wind power projects under Tranche-XIII.

Narmada Hydroelectric Development Corporation, a joint venture of NHPC and the Government of Madhya Pradesh, is set to construct a 525 MW pumped storage project near Indira Sagar Dam, Khandwa, to help manage the state’s peak energy demand. The project will be developed using the existing Indira Sagar and Omkareshwar reservoirs and generate 1,226.93 million units of energy during peak hours. The estimated cost of the project is ₹42 billion (~$509.28 million).

Eolian, a U.S.-based investor in renewable energy projects and a portfolio company of Global Infrastructure Partners, has announced the closing of a $515 million renewable energy green loan. The company said the financing was secured by its diverse group of eligible green projects developed over the past two decades. The financing saw investments from Banco Santander, Mitsubishi UFJ Financial Group, National Australia Bank, Natixis Corporate and Investment Banking, and Sumitomo Mitsui Banking Corporation.