Grid Corporation of Odisha (GRIDCO) has invited bids from intra-state off-takers to buy 500 MW of solar power through a tariff-based competitive bidding process with a greenshoe option. The last date for the submission of bids is January 16, 2024. Bids will be opened on January 17. GRIDCO foresees a significant increase in renewable energy power transactions by various entities in the coming years. Considering its planning for renewable power procurement, there is a potential for GRIDCO to possess a reserve of 500 MW of solar power starting from the fiscal year 2025-26. The additional reserve power is being made available by GRIDCO to diverse industries within the state through the tender.

In yet another move to protect its control over clean energy supply chains, China has banned the export of technology to extract and process some rare earth metals. The technology finds application in electric vehicles and wind turbines. China’s Ministry of Commerce and Ministry of Science and Technology published a revised “Catalogue of China’s Export Prohibited and Restricted Technologies,” in which 34 technical items were deleted, four new items were added, and the control points and technical parameters of 37 technical items were modified. A government spokesman said the revision was a ‘routine adjustment’ to the catalog in response to technological developments and the needs of technology trade management.

The State Bank of India (SBI) has signed a $165 million line of credit from the World Bank to finance grid-connected rooftop solar projects in the residential and institutional sectors. SBI also signed a €200 million (~$220 million) line of credit from the European Investment Bank (EIB) to support India’s climate action projects, it said in a regulatory filing. The loan document will become operational once the necessary approvals are secured. The public sector bank completed the issuance of $250 million Senior Unsecured Green Floating Rate Notes with a five-year maturity, a coupon of O/N Compound Secured Overnight Financing Rate, and 120 bps p.a. payable semi-annually. The senior unsecured green bond will be issued through SBI’s London branch on December 29, 2023.

Adani Green Energy, the renewables arm of Adani Enterprises, has completed the signing of a power purchase agreement (PPA) for the entire 8 GW of solar capacity with the Solar Energy Corporation of India (SECI) under the manufacturing-linked solar project development tender. The company won the auction to develop 8 GW in January 2020, which it claims to be the world’s largest solar tender to date. Under the tender, Adani Green recently executed the PPA to supply 1,799 MW of solar power for 25 years to SECI, in addition to the 6,201 MW PPAs signed in 2021 and 2022.

Himachal Pradesh Power Corporation (HPPCL) has invited bids to develop 50 MW of solar power projects anywhere in the state. The scope of work includes design, supply, construction, erection, testing, and commissioning of the projects. The project developer will also be responsible for the operation and maintenance of these projects for eight years post-commissioning. The last date to submit the bids is January 21, 2024. Bids will be opened on the same day.

Renewable energy developer Adani Green Energy will raise ₹93.5 billion ($1.1 billion) through preferential issuance of warrants to its promoters, which include Ardour Investment Holding and Adani Properties, at a share price of ₹1,480.75 (~$17.80) per share. The company’s board of directors approved the issuance on December 26, 2023, to raise funds to help reduce the company debt and accelerate capital expenditure to achieve the 45 GW renewable capacity target by 2030. The transaction will see the issuance of 63,143,677 warrants constituting up to 3.833% of the company’s share capital.

Pollen coating can reduce the performance of solar photovoltaic (PV) modules, and rains are not enough to wash them away, according to a report by the National Renewable Energy Laboratory. In a new paper published in the IEEE Journal of Photovoltaics, scientists found that while rainfall could wash away some of the pollen, it was not enough to return PV performance levels to what they were before. Dust, pollen, and other elements hinder the light from reaching solar cells. This process of ‘soiling’ has emerged as a major problem to PV performance and realized revenue for solar plant operators.