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					</table><a href="https://www.syngeneintl.com/" target="_blank" rel="noopener">Syngene International</a>, an integrated research, development, and manufacturing services company has signed an agreement to acquire a 26% stake in <a href="https://www.ampyrenergy.com/">Ampyr</a> Renewable Energy Resources Eleven to procure power from the open access solar project in Koppal district, Karnataka.
The estimated acquisition cost is ₹32 million (~$401,956).
Ampyr Renewable Energy Resources Eleven is a special purpose vehicle (SPV) of Ampyr India Asset Holdings to generate and supply solar power.
The captive solar project under the acquisition will be commissioned in one or more tranches.
Ampyr is developing the 50 MW solar project in Benkanhal village of Kanakagiri taluk in the Koppal district of Karnataka.
According to the company’s ESG report, during 2020-21, 82% of electricity was procured from renewable energy sources delivering a reduction in greenhouse gas emissions of approximately 53,280 tons from operations compared to the previous year.
Commercial and industrial (C&amp;I) entities are in constant pursuit of energy sources that are clean, green, and also lower in cost compared to the grid power tariffs. With several emerging models, there is a renewed interest in going solar by large C&amp;I entities and micro, small and medium enterprises alike.
For industrial consumers, captive solar projects are a viable option as manufacturing units have poor quality or small roofs on which to install solar systems, which may allow them to meet only 10-15% of their energy needs.
The Ministry of Power recently <a href="https://mercomindia.com/no-load-limit-energy-open-access-captive-consumers/" target="_blank" rel="noopener">issued</a> the Green Energy Open Access Rules, which can catalyze the transition of small-scale industries, commercial entities, and large households to renewable energy. As per the new regulations, consumers will be eligible for green energy open access if they have a contracted demand and sanctioned load of 100 kW or more. For captive consumers, there will be no load limitation.
Mercom is hosting the <a href="https://mercomindia.com/event/solar-summit-2022/register/" target="_blank" rel="noopener">Mercom India Solar Summit 2022</a> in Delhi on July 28 and 29, 2022. On July 29, the summit will have a session ‘Commercial and Industrial Sector Going Solar – Potential Market, Policies and Opportunities,’ where panelists will share views on how C&amp;I entities can benefit from adopting solar energy.
Mercom India also <a href="https://mercomindia.com/open-access-solar-industries-uninterrupted-power/" target="_blank" rel="noopener">hosted</a> the C&amp;I Clean Energy Meet 2022 in Bengaluru to discuss how open access renewables have been the most viable option for various sectors needing low-cost power.
Mercom plans to <a href="https://mercomindia.com/event/" target="_blank" rel="noopener">host</a> more industry-focused C&amp;I events in Pune, Chennai, Coimbatore, Ahmedabad, and Noida.

Syngene to Procure Power from Ampyr’s 50 MW Open Access Solar Project in Karnataka

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					</table>Here are some noteworthy cleantech announcements of the day from around the world:
AMPYR Solar Europe (ASE) and BELECTRIC <a href="https://belectric.com/en/ampyr-and-belectric-execute-framework-agreement-to-install-200-mwp-of-solar-projects-in-germany/" target="_blank" rel="noopener">signed</a> a framework agreement to install a pipeline of more than 200 MW solar capacity in Germany. The first power plants to be constructed are in Brandenburg, Germany. The largest solar farm will have an installed capacity of 85 MW. The 65 MW second plant will consist of six sub-areas. The companies will also be building a 25 km long transmission line and a substation. Construction works for the two solar farms are expected to begin this year. Solar farms to be set up in Brandenburg will be developed by AMPYR, with engineering, procurement, and construction works executed by BELECTRIC.
First Solar <a href="https://www.globenewswire.com/news-release/2022/06/23/2468004/0/en/National-Grid-Renewables-Orders-2-GW-of-Responsibly-Produced-First-Solar-Modules.html" target="_blank" rel="noopener">signed</a> a framework agreement with National Grid Renewables for 2 GW of advanced, responsibly produced thin-film photovoltaic solar modules. The modules are scheduled for delivery in 2024 and 2025 throughout the United States and are part of First Solar’s advanced Cadmium Telluride (CadTel) thin-film module technology platform. The deal was booked before First Solar’s Q1 2022 earnings in April. Over the past decade, National Grid Renewables and First Solar have partnered on multiple projects, including the recently operational 200 MW Prairie Wolf Solar Project in Illinois and the currently under construction Noble Solar 275 MW and Storage 125 MWh Project in Texas.
The Public Authority for Special Economic Zones and Free Zones (OPAZ) of Oman <a href="https://www.acme.in/media-release/161/signing-land-usufruct-agreement-for-first-green-hydrogen-and-ammonia-project-in-duqm" target="_blank" rel="noopener">signed</a> a land usufruct agreement with Green Hydrogen and Chemicals Company (GHC), a joint venture between the UK entity of ACME Company and Norway-based Scatec, to develop phase one of green hydrogen and ammonia project in the Special Economic Zone at Duqm (SEZAD). As per the agreement, the GHC will begin developing the first phase of the project over 12 square km of land to produce 100,000 metric tonnes of green ammonia per annum in the SEZAD. The project is expected to produce up to 1.2 million tonnes of green ammonia annually.
Simply Blue Group, an Irish floating offshore wind energy developer, <a href="https://simplybluegroup.com/news/simply-blue-group-announce-new-second-offshore-wind-project-in-northern-ireland/" target="_blank" rel="noopener">announced</a> its second offshore wind project for Northern Ireland. The Olympic Offshore Wind project is a sister project to ‘Nomadic Offshore Wind,’ which was announced by the group earlier this year. Olympic Offshore Wind will provide a combined capacity of up to 1.3 GW, located off the coast of County Down in Northern Ireland. The project will have an option to be developed in stages in-line with a stepping-stone concept that Simply Blue Group is using on other projects. This project will provide the local supply chain with an opportunity to set up and prepare for commercial-scale opportunities offshore in Northern Ireland.
Mainspring Energy, a U.S.-based power generator, <a href="https://www.prnewswire.com/news-releases/in-breakthrough-for-clean-power-generation-mainspring-announces-worlds-first-generator-to-run-both-hydrogen-and-ammonia-fuels-301572750.html" target="_blank" rel="noopener">announced</a> that its Mainspring Linear Generator had passed key tests directly running 100% hydrogen and 100% ammonia fuels at high efficiencies. The company claims that it is the first power generation technology to provide this level of fuel flexibility within a single product, significantly reducing customer investment risk in delivering resilient, clean, dispatchable, and low-cost electricity for both power grids and commercial and industrial uses. In addition to hydrogen and ammonia, the Mainspring product runs on biogas, renewable natural gas, and other widely available gaseous fuels. It can switch between fuels automatically with software-based control. The company claims that the product&#8217;s scalability allows for use in behind-the-meter applications as well as in large grids, microgrids, data centers, and similar operations that require support for 24/7 clean power, clean backup generation, and clean firming capabilities.

Daily News Wrap-Up: AMPYR Solar and BELECTRIC to Install 200 MW Solar Projects in Germany

<a href="https://www.ampyrenergy.com/" target="_blank" rel="noopener">AMPYR</a> Solar Europe (ASE), a pan-European independent solar power producer, announced the closing of a €400 million (~$455 million) facility with <a href="https://carvalinvestors.com/" target="_blank" rel="noopener">CarVal</a> Investors, an established global alternative investment manager, to help develop and construct a pipeline of solar projects across Europe.
The company plans to use the funding to support its plan to bring over 2 GW of solar capacity into operation by 2025.
CarVal made the investment available in two tranches, the initial tranche of €250 million (~$284 million) and the incremental tranche of €150 million (~$170.4 million). The credit facility will majorly cover the construction costs of ASE’s solar assets and provide some developmental and operational expenses.
Andrew Gould, Executive Chairman of ASE, said, “One year after its inception, we couldn’t be prouder to have reached this key milestone in ASE’s journey to become a leading European solar independent solar power producer.”
“With the support of CarVal as our capital partner, we are on a steady path to turn our fast-progressing pipeline into a portfolio of large-scale solar power producing assets that will contribute meaningfully to Europe’s energy transition,” he further added.
The company intends to focus initially on the sites located in Germany, the Netherlands, and the UK, potentially expanding to other European jurisdictions and funding energy storage projects.
It expects to begin constructing its first projects in the second quarter of this year and get them operational by the end of the year. The company aims for a generating portfolio, which, once deployed, will be one of the largest utility-scale solar platforms in Northern Europe.
ASE intends to roll out 5 GW of large-scale solar projects in Northwest Europe overtime to help the continent reduce its dependency on gas and other fossil fuel sources.
ASE was created by the merger of NaGa Solar with the existing AMPYR Energy UK solar joint venture between AGP and Hartree Partners, intending to create a major solar enterprise to build extensive solar capacity and offer an opportunity for institutional investors to deploy capital.
Akereos Capital acted as sole bookrunner, structurer, and exclusive debt advisor to ASE, that was also advised by Reed Smith (legal). CarVal was advised by Norton Rose Fulbright (legal), ARUP (technical), and Baringa Partners (commercial).
AMPYR Solar Europe and KlimaVest <a href="https://mercomindia.com/daily-news-wrap-up-edf-sign-ppa-solar-storage/" target="_blank" rel="noopener">signed</a> an agreement to develop, build and commission a pipeline of large-scale solar PV projects in Germany. ASE oversaw developing the projects to a ready-to-build state and then providing engineering, procurement, construction management, and operation and maintenance services.
According to Mercom Capital Group’s Annual and Q4 2021 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-q4-2021-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, in 2021, $18.7 billion was raised in large-scale project funding compared to $18 billion in 2020.

AMPYR Solar Europe Secures €400 Million for Solar Project Development

Climate Fund Managers (<a href="https://climatefundmanagers.com" target="_blank" rel="noopener noreferrer">CFM</a>) and <a href="https://www.ampyrenergy.com/" target="_blank" rel="noopener noreferrer">AMPYR Energy</a> announced that they have partnered to develop 138 MW of onshore wind farms in Karnataka.
CFM is a Netherlands-based investment manager with a focus on renewable energy infrastructure. It also manages the Climate Investor One (CI1) financing facility. AMPYR Energy is a renewable energy developer headquartered in Singapore.
The companies announced that CI1’s Construction Equity Fund had invested $32 million (~₹2.38 billion) for the construction of a 38 MW project in Balenahalli, Karnataka, which will be the first project under this new partnership.
According to CFM’s press statement, this project is expected to produce about 149 GW of clean energy every year and help avoid around 130,000 tons of greenhouse gas emissions annually.
“The AMPYR Energy team have an impressive track record of delivering successful renewable energy projects that strongly align with CI1’s key objectives of displacing grid-connected coal-fired power while implementing and promoting superior ESG (Environmental, Social, and Governance) practices for the project and broader community,” said Nathan Schmidt, Head of Asia at Climate Fund Managers.
“The initial project will serve clean power to over 145,000 people,” Schmidt added.
Mercom India’s Research <a href="https://mercomindia.com/top-five-states-wind-energy/" target="_blank" rel="noopener noreferrer">showed</a> that Karnataka is the fourth-best state in the country for wind development. The state has around 4.8 GW of wind projects installed, which represents 13% of the country’s total installed wind power capacity.
Wind power installations in India <a href="https://mercomindia.com/2-07-wind-power-capacity-installed-india/" target="_blank" rel="noopener noreferrer">reached</a> 2.07 GW in the financial year (FY) 2019-20, a 31% increase as compared to 1.58 GW in the FY 2018-19. Cumulative installations stood at 37.69 GW as compared to 35.63 GW for the FY 2018-19. Wind power represented <a href="https://mercomindia.com/solar-share-india-installed-power-capacity-mix/" target="_blank" rel="noopener noreferrer">10.1%</a> of the total installed power capacity in India as of Q1 2020.
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Image credit: GERC

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