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					</table><p><strong><a href="https://www.mercomindia.com/ntpc-renewable-energy-260-mw-solar-rajasthan" target="_blank" rel="noopener">NTPC Renewable Energy has invited bids for the engineering, procurement, and construction package for a 260 MW grid-connected solar power project in Bikaner, Rajasthan</a></strong>. The scope of work includes design, engineering, manufacturing, supply, packing and forwarding, transportation, unloading storage, installation, testing, and commissioning of the projects, including the supply of solar modules. The selected developer will also be responsible for a three-year operation and maintenance of the project.</p>
<p><a href="https://www.mercomindia.com/dvc-invites-bids-for-project-in-jharkhand" target="_blank" rel="noopener"><strong>Damodar Valley Corporation has invited bids for demarcating the boundary of land owned by it near Barhi, Hazaribagh district, Jharkhand</strong></a><strong>,</strong> and conducting a topographical survey and geotechnical investigation to establish a ground-mounted solar power project. With 6,687 MW from thermal and hydropower and 13.9 MW from solar, Damodar Valley Corporation plans to expand with 5,500 MW in renewables and 3,720 MW in supercritical and ultracritical thermal generation.</p>
<p><strong><a href="https://www.mercomindia.com/sunpower-shutter-residential-direct-sales" target="_blank" rel="noopener">U.S.-based solar firm SunPower Corp will wind down its SunPower Residential Installation locations, close SunPower Direct sales, and reduce its workforce by about 1,000 employees to rein in costs, according to an internal memo</a>.</strong> “I’m writing to share difficult news with you as we implement changes across our organization in the days and week to come,” wrote executive chairman of the board Tim Werner in the memo. Werner, who had previously served as CEO for nearly two decades, attributed the restricting to prolonged market recovery and improving financial controls.</p>
<p><strong><a href="https://www.mercomindia.com/global-solar-manufacturing-1-3-tw-2028" target="_blank" rel="noopener">Global solar manufacturing capacity under construction indicates an increase of 330 GW in 2023 to almost 800 GW – triple the 2021 level, according to the International Energy Agency</a></strong>. This surplus in capacity is projected to more than double the forecast installations for 2023, creating a significant supply surplus.</p>
<p><strong><a href="https://www.mercomindia.com/india-third-market-utility-batteries-iea" target="_blank" rel="noopener">India could become the world’s third-largest market for utility-scale batteries, with capacity additions expected to rise to 9 GW by 2030</a>,</strong> fuelled by the cost competitiveness for solar photovoltaics coupled with battery storage, according to a recent report from the International Energy Agency. The rapidly declining cost of utility-scale batteries is a driving force behind the solar-plus-storage surge.</p>
<p><strong><a href="https://www.mercomindia.com/blupine-energy-secures-solar-project-in-gujarat" target="_blank" rel="noopener">Renewable energy company BluPine Energy has secured the debt financing of ₹4.18 billion (~$50.1 million) from HDFC Bank for its 120 MW solar power project</a> </strong>in Sadla, Gujarat. The company won the project in Gujarat Urja Vikas Nigam’s auction to supply solar power projects (Tranche XVIII) in January 2023. BluPine had won 50 MW in the initial auction for 500 MW solar projects at ₹2.52 (~$0.0302)/kWh and later received additional greenshoe capacity.</p>
<p><strong><a href="https://www.mercomindia.com/adaniconnex-green-financing-data-centers" target="_blank" rel="noopener">AdaniConneX, a data center solutions provider and a joint venture between Adani Enterprises and EdgeConneX, has established sustainability-linked financing</a> </strong>to raise $1.44 billion to fund its renewable-powered data centers and enable digital infrastructure growth in the country. The company said the upcoming data center facilities would leverage technologies and renewable energy solutions to minimize the ecological footprint while optimizing operational efficiency.</p>
<p><a href="https://www.mercomindia.com/researchers-develop-fast-charging-sodium-battery" target="_blank" rel="noopener"><strong>Researchers have developed a high-energy, high-power hybrid sodium-ion battery that can be a viable alternative to lithium-ion batteries</strong></a>. Led by Jeung Ku Kang, a team from the Korea Advanced Institute of Science and Technology and Lawrence Berkeley National Laboratory has found a way to enhance sodium-ion hybrid energy storage systems through an innovative hybrid energy storage system that integrates anode and cathode materials.</p>


Daily News Wrap-up: NTPC’s 260 MW Solar EPC Tender


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					</table><p><a href="https://www.adaniconnex.com/" target="_blank" rel="noopener">AdaniConneX</a>, a data center solutions provider and a joint venture between <a href="https://www.adanienterprises.com/" target="_blank" rel="noopener">Adani Enterprises</a> and <a href="https://www.edgeconnex.com/" target="_blank" rel="noopener">EdgeConneX</a><u>, </u>has established sustainability-linked financing to raise $1.44 billion to fund its renewable-powered data centers and enable digital infrastructure growth in the country.</p>
<p>The company said the upcoming data center facilities would leverage technologies and renewable energy solutions to minimize the ecological footprint while optimizing operational efficiency.</p>
<p>With an initial commitment of $875 million, the financing has an accordion feature to extend the commitment to $1.44 billion. With this, AdaniConneX’s construction financing pool stands at $1.65 billion, in addition to the initial construction facility of $213 million executed last June.</p>
<p>According to a press release by the company, the facility is a solution to a syndicated guarantee-backed assurance program that is in tandem with the projects&#8217; procurement strategy. The company executed definitive agreements for the financing with eight international lenders such as <a href="https://www.ing.com/" target="_blank" rel="noopener">ING Bank</a> N.V., <a href="https://www.intesasanpaolo.com/" target="_blank" rel="noopener">Intesa Sanpaolo</a>, <a href="https://www.kfw-ipex-bank.de/International-financing/KfW-IPEX-Bank/" target="_blank" rel="noopener">KfW IPEX</a>, <a href="https://www.bk.mufg.jp/global/" target="_blank" rel="noopener">MUFG Bank</a>, <a href="https://www.natixis.com/" target="_blank" rel="noopener">Natixis</a>, <a href="https://www.sc.com/" target="_blank" rel="noopener">Standard Chartered</a> Bank, <a href="https://www.societegenerale.com/" target="_blank" rel="noopener">Societe General</a><u>,</u> and Sumitomo Mitsubishi Banking Corporation (<a href="https://www.smbcgroup.com/" target="_blank" rel="noopener">SBMC</a>).</p>
<p>The company has plans to build an environmentally and socially conscious 1 GW data center infrastructure platform. Given the accelerating demand, this access to a wide pool of liquidity will bolster the company’s strategy to fast-track the implementation of portfolio assets.</p>
<p>“Construction financing is a core element of the AdaniConneX capital management plan, enabling us to deliver a data center solution firmly rooted in sustainability and environmental stewardship. We are delighted to embark on this journey with our esteemed international banking partners,” said Jayakumar Janakaraj, CEO of AdaniConneX.</p>
<p>This also aligns with AdaniConneX&#8217;s efforts to drive a safety-first culture, delivering world-class Power Usage Effectiveness (PUE) by adopting best global practices and leveraging renewable energy resources, the release said.</p>
<p>Last month, a $409 million green bond issued by Adani Green Energy <a href="https://www.mercomindia.com/adanis-green-bond-issue-receives-over-3-billion-bids#:~:text=In%20the%20same%20month,%20the,since%20the%20initial%20project%20financing." target="_blank" rel="noopener">received</a> bids amounting to nearly $3 billion.</p>
<p>This comes five years after the Adani group <a href="https://www.mercomindia.com/adani-partner-us-firm-data-center" target="_blank" rel="noopener">partnered</a> with U.S. firms to establish green energy-powered data centers in India.</p>


AdaniConneX Raises $1.44 Billion in Green Financing for Data Centers

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