Solairedirect Energy India (ENGIE), ReNew Solar Power, and NTPC Renewable Energy won REC Power Development and Consultancy’s auction to develop 1,250 MW inter-state transmission system (ISTS)-connected solar power projects -Tranche I. Solairedirect Energy India won 300 MW, and ReNew Solar Power won 400 MW by quoting ₹2.55 (~$0.0311)/ kWh. NTPC Renewable Energy, which had bid for the entire capacity, won 550 MW by quoting ₹2.56 (~$0.0312)/kWh.

Sprng Akshaya Urja (Sprng Energy), NTPC Renewable Energy, Project Nine Renewable Power (Ayana Power), and TEQ Green Power XIII (O2 Power) have won REMC’s auction to supply 1 GW of round-the-clock power for 25 years from grid-connected renewable power projects with or without storage. Sprng won 100 MW by quoting ₹3.99 (~$0.048)/kWh. NTPC and Ayana won 500 MW and 300 MW, respectively, quoting ₹4.10 (~$0.050)/kWh. O2 won 60 MW quoting ₹4.27 (~$0.052) kWh.

ReNew Solar Power and Avaada Energy have won RECPDCL’s auction to supply 500 MW of power from ISTS-connected solar power projects to be set up across the country. ReNew won 200 MW by quoting ₹2.69 (~$0.03)/kWh. Avaada Energy won the rest of 300 MW by quoting ₹2.70 (~$0.03)/kWh. The successful bidders will sign a power purchase agreement with Damodar Valley Corporation for a duration of 25 years.

NHPC Limited has invited bids for the engineering, procurement & construction of a 300 MW floating solar power project and the 220 kV transmission line at Rengali Reservoir in Angul, Odisha. The project should be commissioned within 21 months of receiving the work order. The selected developer must oversee the project’s comprehensive operation and maintenance service for five years. The last day to submit the bids is May 17, 2023. The bids will be opened on May 23.

Hindustan Petroleum Corporation has invited bids for the engineering, procurement & construction of 11 MW of solar power projects at its Panipat and Jhansi site for captive use in the states of Uttar Pradesh and Haryana. The projects will be installed in two phases, 5 MW under Schedule 1 of the tender at Karari Village in Jhansi and the remaining 6 MW under Schedule 2 at Baholi Village in Panipat. The last date to submit the bids is April 21, 2023. Bids will be opened on the same day.

India-based electric mobility service provider Magenta Mobility has secured a $22 million investment from bp and a Morgan Stanley India Infrastructure-managed investment fund. The company focuses on electrifying logistics and last-mile delivery, which involves transporting goods from a distribution center to a home or business. The investment represents bp’s first foray into India’s last-mile delivery market and its second in its mobility sector. bp pulse has over 100 million online shoppers.

Government-owned infrastructure finance company REC has issued green bonds worth $750 million under its $7 billion Global Medium Term Note Program. The bonds carry an interest of 5.625% and will mature on April 11, 2028. The principal and interest payments will be made in U.S. dollars. REC said in a bourse filing that the net proceeds from the bonds would be used to finance green energy infrastructure projects per the REC Limited Green Finance Framework and the External Commercial Borrowings guidelines of the Reserve Bank of India.

Renewable energy solutions provider Vibrant Energy has secured project financing of more than ₹22 billion (~$268.7 million) from Power Finance Corporation to develop 300 MW of wind-solar hybrid power projects in Madhya Pradesh and Karnataka. Vibrant Energy is a portfolio company of Macquarie Asset Management’s Green Investment Group. It operates and delivers more than 2 GW of renewable energy solutions for corporate clients.

The government has extended the timeline for green hydrogen/ammonia projects to be eligible for an exemption from ISTS charges on renewable energy use. The decision aims to keep green hydrogen production costs down so India could emerge as a global hub. The Ministry of New and Renewable Energy said that prevailing ISTS charges could add up to $0.75/kg to the cost of green hydrogen production.

Germany-based wind turbine manufacturer Nordex has placed €333 million ($391 million) worth of new green convertible bonds due in 2030. The bonds, with a denomination of €100,000 (~$109,043), will be convertible into new or existing ordinary bearer shares of Nordex. The proceeds from the convertible bonds will be used for eligible green projects, as defined by Nordex’s Green Financing Framework.

A recent study by Texas A&M University researchers has revealed that the storage capacity of metal-free, water-based batteries can vary a 1,000% depending on the types of electrodes used in them. The researchers explained that aqueous batteries comprise three main components: a cathode, an electrolyte, and an anode. The cathodes and anodes are made of polymers that can store energy, while the electrolyte is a mixture of water and organic salts. The electrolyte plays a crucial role in ion conduction and energy storage by interacting with the electrode.

Sales of heat pumps worldwide increased by 11% in 2022, spurred by the global shift towards reliable and environmentally friendly heating, a recent analysis by the International Energy Agency  said. This is the second consecutive year with a double-digit growth rate. The increase in policy support and incentives is driving the surge in demand for heat pumps globally, especially in Europe, where sales have reached an all-time high, with air-to-water models experiencing a growth rate of almost 50%.