Even as the industry awaits official order on lifting the Approved List of Models and Manufacturers (ALMM) mandate for developers due to the lack of domestic solar module capacity, its role in delaying the enlistment of new models and manufacturers has been causing a supply bottleneck. According to the updated ALMM, the total capacity listed is approximately 21 GW and includes 83 module manufacturers.

United States-based equity investment firm GQG Partners has closed a major deal involving a series of secondary block trade transactions amounting to ₹154.46 billion (~$1.87 billion) in the Adani Portfolio companies. The investments include ₹54.6 billion (~$663.21 million) in Adani Enterprises for 38.7 million shares at a price of ₹1,410.86 (~$17.14) per share. Adani Ports and Special Economic Zone received ₹52.82 billion (~$641.59 million) for 88.6 million shares at a price of ₹596.2 (~$7.24) per share.

Adani Green Energy Ltd (AGEL), the renewables arm of the Adani Group, said its fourth wind-solar hybrid power project has become fully operational at Jaisalmer in Rajasthan. With the operationalization of the 700 MW plant, Adani Green now has the largest operating renewable portfolio in India with 8,024 MW. The plant is housed under AGEL’s 100% subsidiary, Adani Hybrid Energy Jaisalmer Four Limited. The hybrid power project has a power purchase agreement at a tariff of ₹3.24/kWh for 25 years.

Solar tracker maker Soltec Power Holdings recorded a net profit of €13.1 million ($14 million) in financial year (FY) 2022, a year-over-year (YoY) increase of 1191% compared to the net loss of €1.2 million (~$1.3 million) in FY21. The profit was driven by solid demand for trackers and the company’s measures to mitigate industry disruptions. The company delivered a record 3.8 GW of trackers in 2022. It has supplied a total of 15.6 GW of trackers to date.

TUSCO, a joint venture company of THDC India and the Uttar Pradesh New and Renewable Energy Development Agency , has invited bids from consultants to prepare a feasibility-cum-detailed project report to develop an 800 MW ultra-mega solar power park in Chitrakoot, Uttar Pradesh. The final feasibility report must be submitted within 90 days of receiving the work order. The estimated work cost is ₹5.43 million (~$66,024). The last day to submit the bids is March 29, 2023. Bids will be opened the next day.

Renewable energy company Greenko Group announced the signing of definitive agreements for a primary equity raising of US$ 700 million from affiliates of Singapore’s sovereign wealth fund GIC, ORIX Corporation, and a wholly owned subsidiary of the Abu Dhabi Investment Authority. Greenko said that it would use the funds raised to accelerate its decarbonization efforts through the supply of carbon-free energy. The company will use the $700 million investment towards the capital expenditure of pumped storage projects which will have a storage capacity of more than 25 GWh, enabling 45 billion units of dispatchable carbon-free energy.

Germany’s recent offshore wind energy auction for 3.21 GW has received interest for only less than half (1.5 GW) of the capacity on offer, according to the Federal Network Agency (Bundesnetzagentur). The auction received only 126 bids, while Bundesnetzagentur excluded seven bids due to procedural errors. The tariffs ​​quoted in the bids range between €0.0724 (~$0.077)/kWh and €0.0735 (~$0.078)/kWh. At €0.0743 (~$0.079)/kWh, the average quantity-weighted bid value is slightly below the newly defined maximum value.

Manufacturer of long-duration iron-flow batteries, ESS Tech, recorded a net loss of $25 million in the fourth quarter (Q4) of 2022, a year-on-year improvement of 86.12% compared to a $180.73 million loss during the corresponding period in 2021.The company said it continued to be challenged by supply throughout the year, which hindered its ability to fully achieve its delivery ambitions for the year, resulting in losses. However, it delivered 14 ‘Energy Warehouses’ in the fourth quarter. The company recorded $16,000 in revenue during the quarter compared to zero revenue generation in Q4 2021.

Switzerland-based engineering company Meyer Burger is planning to introduce a unified glass, glass-based product platform for its solar modules. The modules designed under the platform will have optimized glass on the front and back. They will have enhanced bifaciality, a prominent attribute in heterojunction solar technology. The company said the products will come with increased durability, low weight, sustainably higher performance, and appealing aesthetics in black, white, and transparent variants.

Australia can become a potential supply chain partner for the global renewables sector and an alternative to China, a report by think tank Climate Energy Finance has said. Australia houses minerals critical to renewable energy technologies in abundance and is the leading producer of unprocessed lithium. The country produces 79% of the world’s hard rock lithium, with its mineral exports projected to reach $16 billion in 2023. The country is the third largest exporter of cobalt and stands fourth in exporting mined copper, nickel, and rare earths.

Researchers at South Korea’s Ulsan National Institute of Science and Technology have developed a perovskite solar cell by using alkylammonium chloride to control the formation of defects in the perovskite layer. The researchers said when testing the film in a perovskite cell, it was found that it achieved a power conversion efficiency of 26.08%, which exceeds the efficiency of silicon solar cells. When tested by NREL experts, the device achieved a certified efficiency of 25.73%. The study “Controlled growth of perovskite layers with volatile alkylammonium chlorides” was recently published in Nature.