NTPC Renewable Energy has invited bids for interstate transmission system-connected energy storage projects of 9,000 MWh capacity with a minimum of 1,500 MW capacity to be installed anywhere in India. The last date to submit the bids is June 16, 2023. Bids will be opened on the same day. NTPC Renewable Energy intends to use the energy storage facility to meet its renewable round-the-clock/peak power requirements complementing its wind and solar generation. Bidders must submit ₹1.2 million (~$14,599)/MW of the quoted capacity as an earnest money deposit.

ReNew Power, Solarcraft Power, Mahindra Susten, and Avaada Energy won the Gujarat Urja Vikas Nigam’s auction to supply power from 500 MW of grid-connected solar projects (Phase XIX). The developers can build projects anywhere in India and avail of a greenshoe option of an additional 500 MW. ReNew Solar Power won 200 MW by quoting ₹2.71 (~$0.0333)/kWh. Avaada Energy won 140 MW at ₹2.75 (~$0.0335)/kWh out of the quoted capacity of 500 MW under the bucket-filling method. Mahindra Susten and Solarcraft Power won 100 MW and 60 MW, respectively, at the tariff of ₹2.74 (~$0.0334)/kWh.

Solar developers will not be required to pay any stamp duty for land purchased or leased for solar projects and solar parks in Uttar Pradesh. The Uttar Pradesh government has notified the 100% exemption on stamp duty as announced in the state’s Solar Energy Policy 2022. The stamp duty exemption could help solar capacity additions in the state where land acquisition has been a major stumbling block.  Solar parks require large parcels of contiguous land. Several instances of the land acquisition have been running into issues with local authorities, landowners, and government agencies, which lead to higher costs for developers and make projects unviable.

U.S.-based electric vehicle maker Tesla reported a net income of $2.5 billion in the first quarter of the financial year 2023, a 24% year-over-year (YoY) drop. The company said lower profitability was due to the reduced average selling price of its products for the quarter, which combined with higher raw material, commodity, logistics, and warranty costs. Profitability was also adversely impacted by lower credit revenue, Tesla said. However, the company posted a 24% YoY growth in revenue at $23.3 billion for the January-March quarter.

Solar and wind power purchase agreement (PPA) prices in North American and European Countries have considerably risen due to increasing capital costs, regulation uncertainties, and supply chain difficulties. For countries in North America, the average offer prices for solar and wind PPA have increased by 6.6% year-over-year to ~$50.32/MWh in North America in the first quarter (Q1) 2023. Wind PPA price offers in Europe increased by 35% to €106.06 (~$115)/MWh between Q3 2022 and Q1 2023.

The Department of Science and Technology has invited bids to establish Hydrogen Valley Innovation Clusters in the country. A hydrogen valley is a specific geographical region where hydrogen is utilized for multiple applications across different sectors, such as industry, energy, and mobility. It is a designated area where hydrogen technology is encouraged and promoted to drive the adoption of hydrogen as a clean and sustainable energy source. The last date to submit the bids is May 4, 2023.

The Australian government aims to increase the share of electric vehicles (EV) in new light vehicle sales to 30% by 2030 and 100% by 2035 to transition to a decarbonized transport system. According to the first National Electric Vehicle Strategy, increasing EV share in the transport system would reduce transport emissions by 52 Mt CO2-e in 2030 and 173 Mt CO2-e in 2050. It would also save consumers billions in fuel and maintenance costs by 2050. The strategy is aligned with Australia’s commitments under the Paris Agreement and the Net Zero Emissions by 2050 plan.

Australia’s renewable energy industry completed 20 large-scale projects, adding 2,257 MW of new capacity in 2022, which is 23.6% lower than in 2021, according to Clean Energy Council. The country saw 27 projects contributing 2,955 MW in 2021.The capacity addition declined primarily due to the COVID-19 pandemic, supply chain disruptions, and regulatory uncertainties.However, the outlook for 2023 and beyond is optimistic. The industry is expected to see a resurgence of large-scale projects supported by favorable policies at both federal and state levels.

Affordable battery energy storage is the missing piece in making renewable energy reliable and round-the-clock as the capacity continues to grow in India. Energy storage is a pivotal technology that enables a continuous energy supply of renewables. To discuss the crucial role of battery energy storage in streamlining the development and deployment of renewable energy in India, industry experts will join us at the Mercom India Renewables Summit 2023, an exclusive two-day clean energy event on April 26 and April 27, to be hosted in New Delhi. The session titled ‘Role of Energy Storage in Making Renewables Mainstream’ will be held on April 26.

U.S.-based residential solar company Sunnova has received conditional approval for a partial loan guarantee of up to $3 billion from the U.S. Department of Energy’s Loan Programs Office. This will provide a 90% guarantee for up to $3.3 billion of financing to support Sunnova’s solar loan program, which aims to increase access for disadvantaged individuals and communities to its services by indirectly guaranteeing a portion of their loans’ cash flows.