Rewa Ultra Mega Solar has invited bids to develop 750 MW wind-solar hybrid power projects in Madhya Pradesh on a build-own-operate basis. The developers can also propose to add storage capacity along with the projects. The last date to submit the bids is November 17, 2023. Bids will be opened on the same day. Bidders can submit their offers for a minimum of 10 MW and a maximum of 375 MW capacity.

Sterling and Wilson Renewable Energy has received the Notification of Award from NTPC Renewable Energy for the engineering, procurement, and construction of a 300 MW solar project at the Khavda Renewable Energy Park in Gujarat. The total contract value, including operation and maintenance for three years, is ₹15.35 billion (~$184.8 million). Construction of the project is anticipated to commence either towards the end of the third quarter or the beginning of the fourth quarter of this year. It is projected to be commissioned within the subsequent 12 to 18 months.

Global asset management firm Brookfield and Axis Energy Ventures have announced their second renewable energy joint venture partnership in India. Brookfield, through its Brookfield Global Transition Fund II (BGTF II), has committed to providing equity capital of up to $845 million to develop Axis’ wind and solar energy project pipeline. These projects are spread across the country and are in various stages of development. Both partners will leverage their expertise and resources to jointly provide curated energy solutions to various industry participants, including government entities, corporate customers, and emerging industries such as green hydrogen.

Gujarat-based KP Energy, a balance of project solutions provider for wind projects, has secured the balance of system contract for 464.10 MW interstate transmission system (ISTS)-linked wind power projects in Gujarat. The contract was awarded by NTPC Renewable Energy. Under the contract, the company will provide a comprehensive range of services, including engineering, procurement, construction, and commissioning. The services include land acquisition and transfer for the project, the provision of all essential equipment for the balance of project, and a range of services related to unloading, storage, on-site handling, installation, insurance, civil and related construction, grid integration, testing, and commissioning.

THDC India has invited expressions of interest (EoI) for the empanelment of land aggregators and facilitators for acquiring land on a lease or purchase basis to develop Ultra Mega Renewable Energy Power Parks in Rajasthan. These parks will be developed under the Ministry of New and Renewable Energy’s solar park program. The last date to submit the EoIs is October 16, 2023. They will be evaluated the next day.

Abu Dhabi’s International Holding Company PJSC (IHC) is set to divest its investments in Adani Green Energy and Adani Energy Solutions (formerly Adani Transmission). IHC Subsidiaries, Green Energy Investment Holding, and Green Transmission Investment Holding have reached an agreement with a buyer to dispose of their foreign direct investments in Adani Green Energy and Adani Transmission. IHC said that this decision aligns with its broader portfolio rebalancing strategy. The company is currently completing all procedures and obtaining the regulatory approvals to execute the agreed-upon transaction.

France’s Ministry of Ecological and Solidarity Transition has announced the list of successful bidders for the fourth round of auction to develop 1.5 GW of ground-mounted solar power projects in the country. Projects were awarded for a total capacity of 1.519 GW. A total of 126 bidders were declared successful in the auction. The average price quoted in the auction was €0.082 (~$0.086)/kWh. Rubis Photosol secured the highest capacity of 252.5 MW (eight projects), followed by the special purpose vehicles of Neoen with 212.42 MW (14 projects).

Global investments in clean energy could reach an unprecedented $1.8 trillion in 2023, but this must increase significantly to about $4.5 trillion annually by early 2030 to align with the Net Zero Emissions scenario, the International Energy Agency has said. Nearly five GT of CO2 would need to be extracted from the atmosphere each year during the latter half of this century. If carbon removal technologies fall short of achieving this scale, it would render the goal of returning the global temperature to a 1.5°C increase unattainable.