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					</table><p><a href="https://www.mercomindia.com/indias-wind-energy-165-yoy-increase-in-q2-2023" target="_blank" rel="noopener"><strong>India added 1,139.5 MW of wind power capacity in the second quarter (Q2) of the calendar year 2023, representing a 165% year-over-year increase, according to Mercom India Research.</strong></a> Installations grew 54% quarter-over-quarter from 737.85 MW in Q1 2023. The increase in installations was spurred by enabling policies by the government, such as the implementation of the Renewable Purchase Obligation trajectory until 2029-2030.</p>
<p><a href="https://www.mercomindia.com/thdc-consultancy-tender-land-2-gw-solar-parks" target="_blank" rel="noopener"><strong>THDC India has invited bids to empanel consultants for the acquisition of land to develop 2,000 MW ultra mega renewable energy parks in Rajasthan under the Ministry of New and Renewable Energy’s</strong></a> Solar Park Program. The last date to submit the bids is August 10, 2023. Bids will be opened the following day. The consultants will be empanelled for two years under Class A and Class B categories.</p>
<p><a href="https://www.mercomindia.com/seci-tender-geotechnical-study-solar-project-andaman" target="_blank" rel="noopener"><strong>Solar Energy Corporation of India has invited bids to select an agency for conducting a geotechnical study and topography survey for a solar power project at the Mithakari site in South Andaman.</strong></a> The geotechnical investigation will be carried out to provide the designer with sufficiently accurate information about the substrata profile and relevant parameters at the site based on which the foundation for the solar power project and other associated facilities will be designed.</p>
<p><a href="https://www.mercomindia.com/power-ministry-methodology-calculate-atc-losses" target="_blank" rel="noopener"><strong>In a move to improve the collection efficiency of distribution companies (DISCOMs), the Ministry of Power has changed the methodology to calculate Aggregate Technical and Commercial (AT&amp;C) losses.</strong></a> The existing methodology was reviewed after weighing the feedback from DISCOMs, who said that it restricted the collection efficiency to 100%, and the efforts of the DISCOMs in realizing the past dues and liquidation of outstanding subsidies were not reflected in the calculation of AT&amp;C losses.</p>
<p><a href="https://www.mercomindia.com/sterling-wilsons-q1-net-loss-narrows" target="_blank" rel="noopener"><strong>The engineering, procurement, and construction (EPC) arm of Shapoorji Pallonji Group, Sterling and Wilson Renewable Energy’s consolidated net loss was reduced by 73% year-over-year (YoY) to ₹950</strong></a> million (~$11.6 million) for the first quarter of the financial year 2023-24 from a loss of ₹3.56 billion (~$43.4 million) due to higher contribution from the domestic EPC segment. The company posted a YoY decrease of 57% in revenue at ₹5.15 billion (~$62.7 million). This was mainly due to an 84% fall in revenue from its international EPC operations to ₹1.59 billion (~$19.4 million).</p>
<p><a href="https://www.mercomindia.com/standard-chartered-solar-mini-grids-angola" target="_blank" rel="noopener"><strong>Standard Chartered has announced a financial package of €1.29 billion (~$1.45 billion) to support the Angolan Ministry of Finance in constructing 48 hybrid solar power generation systems equipped with</strong></a> energy storage to create autonomous mini-grids. These systems will provide 100% renewable electricity to communities without access to the national electricity grid. The funding will support the expansion of the national grid in Malanje, as well as the construction of new transmission lines and networks connecting other municipalities.</p>
<p><a href="https://www.mercomindia.com/eu-allocates-over-large-scale-clean-tech-projects" target="_blank" rel="noopener"><strong>The European Commission has announced the allocation of over €3.6 billion (~$4 billion) from the Innovation Fund for 41 large-scale clean tech projects across Europe.</strong></a> The Innovation Fund, financed by revenues from the auctioning of allowances from the EU Emissions Trading System (EU ETS), is among the world’s largest funding programs for the deployment of net-zero and innovative technologies. With an estimated revenue of €40 billion (~$44.9 billion) until 2030, the fund aims to support businesses investing in clean energy and accelerate the energy transition.</p>
<p><strong><a href="https://www.mercomindia.com/azure-power-faces-delisting-from-new-york-stock-exchange" target="_blank" rel="noopener">New York Stock Exchange (NYSE) has decided to initiate proceedings to delist Azure Power Global from the stock exchange.</a></strong> The trading of the company&#8217;s equity shares has been immediately suspended. NYSE decided that Azure’s equity shares are not suitable for listing because the company is a late filer and has not filed with the U.S. Securities and Exchange Commission its annual report on Form 20-F for the fiscal year ended March 31, 2022, and current report on Form 6-K for the half year ended September 30, 2022.</p>


Daily News Wrap-Up: India’s Wind Installations Surge by 165% YoY in Q2 2023


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					</table><p><a href="https://www.sc.com/uk/" target="_blank" rel="noopener">Standard Chartered</a> has announced a financial package of €1.29 billion (~$1.45 billion) to support the <a href="http://minfin.gv.ao/" target="_blank" rel="noopener">Angolan Ministry of Finance</a> in constructing 48 hybrid solar power generation systems equipped with energy storage to create autonomous mini-grids. These systems will provide 100% renewable electricity to communities without access to the national electricity grid.</p>
<p>The funding will support the expansion of the national grid in Malanje, as well as the construction of new transmission lines and networks connecting other municipalities. Introducing this electricity infrastructure will contribute to the diversification of Angola&#8217;s energy mix, potentially reducing up to 7.9 megatons of CO2 emissions.</p>
<p>Led by the Angolan Ministry of Energy and Water, the electrification project will benefit around one million Angolans residing in 60 communities, encompassing provinces such as Moxico, Lunda Norte, Lunda Sul, Bié, and Malanje.</p>
<p>The financing package is backed by the German export credit agency Euler Hermes, with the MCA Group overseeing construction and project management. Of the total funding, €1.2 billion (~$1.35 billion) is supported by Euler Hermes, while the remaining represents a commercial loan.</p>
<p>Yoshi Ichikawa, Head of Structured Export Finance for Europe, Standard Chartered Bank, said: “We are thrilled to complete the financing of this important project for the Angolan government to supply renewable energy-sourced electricity to local communities. It’s another great example of our collaboration with ECAs and contractors to deliver for our clients.”</p>
<p>Standard Chartered was the sole book runner, original lender, structuring bank, and mandated lead arranger. The bank designed the financing structure to align with eight of the United Nations&#8217; sustainable development goals and adhere to international best practices for environmental and social risk management.</p>
<p>Earlier this year, the Export-Import Bank of the United States <a href="https://www.mercomindia.com/us-exim-bank-approves-500-mw-solar-projects-in-angola" target="_blank" rel="noopener">approved</a> a direct loan exceeding $900 million to support construction of two solar power projects in Angola.</p>
<p>According to a report released by the Africa Solar Industry Association, Angola <a href="https://www.mercomindia.com/africa-solar-capacity-grew-14-in-2022-to-nearly-1-gw" target="_blank" rel="noopener">emerged</a> as the frontrunner among African countries in terms of solar capacity expansions in 2022, with an installed capacity of 284 MW.</p>


Standard Chartered Commits ₹1.45 Billion for 48 Solar Mini-Grids in Angola

<p>The African Development Bank (<a href="https://www.afdb.org/en" target="_blank" rel="noopener">AfDB</a>) has committed $530 million to finance a 343 km, 400 kV central-south transmission line connecting the north and south transmission grids in Angola for distributing clean energy between the two regions.</p>
<p>The finance package, approved by the Board of Directors of the African Development Bank, consists of $480 million in financing from the Bank. The remaining $50 million would come from the Africa Growing Together Fund &#8211; a $2 billion facility sponsored by the People&#8217;s Bank of China and administered by the African Development Bank.</p>
<p>The funding covers the first phase of the Energy Sector Efficiency and Expansion Program (ESEEP) in Angola, which will help the government connect the country&#8217;s transmission grids and tackle limited operational capacity within the Angolan power distribution utility ENDE.</p>
<p>Around 80% of residential customers in Angola are not metered, resulting in financial losses and reliance on government subsidies. As part of the ESEEP, 860,000 pre-paid meters will be installed, and 400,000 new customers will be connected to the grid and effectively metered.</p>
<p>At the regional level, the ESEEP will enable a connection to the Southern Africa Power Pool (SAPP). The new transmission line will become the backbone for the distribution of power to Angola and Namibia&#8217;s southern provinces. It will enable further power trading between countries in the region.</p>
<p>The funding follows two other recent Bank contributions to Angola&#8217;s energy sector strategy. In 2015, the Bank approved a $1 billion power sector reform loan for Angola, which created an independent regulator and the sector&#8217;s unbundling into distribution, transmission, and distribution companies.</p>
<p>North Angola has a surplus of more than 1 GW of mostly renewable power. In contrast, South Angola relies on expensive diesel generators, supported by government subsidies.</p>
<p>The Transmission capacity will increase by 2,250 MW and eliminate the need for polluting, diesel-powered generators in southern provinces. Once operational in 2023, the project will avert the consumption of 46.8 billion liters of diesel per year in the south, cutting 80 megatons of CO<sub>2</sub> emissions.</p>
<p>The government of Angola will save more than $130 million per year in diesel subsidies.</p>
<p>Angola has significantly improved the capacity, operational efficiency, and sustainability of the electricity sector. In 2015-2019, Angola&#8217;s total installed capacity in renewable energy rose from 1,017 MW to 2,763 MW, mainly through the improved exploitation of the country&#8217;s abundant hydropower.</p>
<p>In 2019, Ethiopia&#8217;s quest to roll out a sustainable procurement framework for independent power producers <a href="https://mercomindia.com/afdb-support-ethiopias-renewable-sector/" target="_blank" rel="noopener">received</a> a boost in the form of a grant of $995,000 made by the Sustainable Energy Fund for Africa (SEFA), managed by the AfDB.</p>
<p>Meanwhile, AfDB&#8217;s board of directors had also <a href="https://mercomindia.com/african-development-bank-energy-access/" target="_blank" rel="noopener">approved</a> a $20 million concessional investment from the SEFA to establish the COVID-19 off-grid recovery platform.</p>


AfDB to Fund $530 Million for Renewables Transmission Projects in Angola

<p>Israel will help develop a 50 MW solar photovoltaic project and contribute towards the improvement of the agricultural sector in the African nation of Angola.</p>
<p>The Israeli ambassador to Angola, Oren Rosenblat, announced the development after meeting with the provincial governor, Rui Falcão. According to Oren Rosenblat, the province of Benguela has irregularities in the production and distribution of electricity. The initiative to construct this solar project has been undertaken with a view to develop this part of the country with an emphasis on its industrial park.</p>
<p>The 50 MW solar project will be built by the Israeli businesspeople as part of a project that Israel has developed in the last five years for the sustainable growth of African countries, especially in remote locations and populations that do not have power from the national grid.</p>
<p>Rosenblat also emphasized that the priority of Israel in Benguela goes essentially to the agricultural sector, since the 10 municipalities of the province have excellent areas for agriculture.</p>
<p>He added that Israel has invested $300 million in the agricultural sector in Angola since 2014. Talking about the importance of the Lobito Corridor, he said that its development necessarily involves an increase in the volume of domestic investments. In his view, in the African continent there is a problem, which is that its entrepreneurs prefer to invest outside their countries.</p>
<p>The increase in investments in the Lobito Corridor is fundamental for the future of the economies of Angola, DR Congo and Zambia, a process in which the Benguela Railway will play a prominent role.</p>
<p>Many countries are coming forward to help Africa, which is still struggling to achieve universal electrification, expand its renewable energy bases so that the countries can meet their energy requirements in a sustainable manner. <a href="https://mercomindia.com/opic-commits-25-million-off-grid-solar-asia-africa/" target="_blank" rel="noopener">Recently</a>, the Overseas Private Investment Corporation (<a href="https://www.opic.gov/" target="_blank" rel="noopener">OPIC</a>), which is the U.S. government’s development finance institution, committed $25 million in financing to the Solar Energy Transformation Fund LLC, which will provide loans to companies developing off-grid solar products and solutions for the millions of people in Sub Saharan Africa and Asia who lack access to electricity.</p>


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