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					</table><p><strong><a href="https://www.mercomindia.com/bids-merchant-bankers-ireda-ipo" target="_blank" rel="noopener">The Ministry of Finance’s Department of Investment and Public Asset Management has invited bids from book-running lead managers (BRLMs) to help list the government’s equity in the Indian Renewable Energy Development Agency</a></strong><strong> (IREDA).</strong> The government will choose up to three merchant bankers with experience in public offerings to form the BRLMs. The last day to submit the bids is April 28, 2023. Bids will be opened on May 1, 2023. The approval was granted due to the recent change in capital structure in IREDA following the infusion of ₹15 billion (~$181.75 million) by the government early last year.</p>
<p><strong><a href="https://www.mercomindia.com/growing-need-round-the-clock-power-shape-future-projects" target="_blank" rel="noopener">The renewable landscape is rapidly changing from the traditional development of standalone solar and wind projects to a combination of both in hybrid projects, primarily driven by the urgent need for round-the-clock (RTC) supply and to tide over the intermittency of renewable resources.</a></strong> The current and future trends in renewable energy were one of the topics industry experts discussed on Day 1 at the ‘Mercom India Renewables Summit 2023,’ an exclusive event being held on April 26-27 in New Delhi. While stakeholders are exploring commercially viable energy storage solutions, hybrid projects are already addressing the challenge of variable supply and grid safety to some extent.</p>
<p><a href="https://www.mercomindia.com/ohmium-raises-250-electrolyzer-capacity-to-2-gw-annually" target="_blank" rel="noopener"><strong>Green hydrogen company Ohmium International announced the close of a $250 million Series C growth equity financing.</strong></a> The funding will be used to expand Ohmium’s annual electrolyzer manufacturing capacity to 2 GW. The company said the additional capital would enable Ohmium to scale its business and accelerate the research and development programs to reduce the cost of green hydrogen production. The funds will also be directed to deploy projects for the company’s global customer pipeline in key regions, including the United States, Europe, India, and the Middle East.</p>
<p><strong><a href="https://www.mercomindia.com/china-solar-capacity-q1-2023" target="_blank" rel="noopener">China installed 33.6 GW of solar capacity in the first quarter of 2023, marking a decrease of 3% quarter-over-quarter, according to the National Energy Administration.</a></strong> The country’s cumulative solar installations touched 430 GW during the quarter, an increase of nearly 33.7% year-on-year (YoY). Investments in solar increased by 177.6% YoY, with RMB52.2 billion (~$7.54 billion). The installed capacity of wind power also went up to 380 GW, an increase of 11.7% YoY. China’s total installed power capacity stood at 2.62 TW at the end of the quarter, a YoY increase of 9.1%.</p>
<p><strong><a href="https://www.mercomindia.com/minionlabs-wins-mercom-indias-startup-pitch-competition" target="_blank" rel="noopener">MinionLabs, an energy efficiency, and IOT (internet of things) company, emerged as the winner of Mercom’s First Startup Pitch Competition for Cleantech Companies.</a></strong> The award was presented to the company during the Mercom India Renewables Summit — a flagship annual event where industry leaders converge to discuss the future of clean energy in India. The company’s advanced machine learning and AI-based edge computing approach detects the energy consumption of individual electrical assets and provides real-time analysis through its Minion Analytics/SaaS platform.</p>
<p><strong><a href="https://www.mercomindia.com/rising-demand-35-sales-growth-forecast-in-2023" target="_blank" rel="noopener">Over 10 million electric cars were sold globally in 2022, and the sales are anticipated to increase by 35% this year, reaching a total of 14 million, finds a report by the International Energy Agency (IEA).</a></strong> The report finds that this year, there will be another record-breaking surge in global sales of electric cars, resulting in a larger share of the overall car market. This growth has led to an increase in the electric cars’ market share from about 4% in 2020 to 14% in 2022, and it is expected to rise to 18% this year, according to the IEA projections.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/mercom-staff/" class="vcard author" rel="author"><span class="fn">Mercom Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Daily News Wrap-Up: Government Invites Bids from Merchant Bankers for IREDA IPO

<p>Adani Green Energy Holding Fifteen Limited, a subsidiary of Adani Green Energy Limited (<a href="https://www.adanigreenenergy.com/" target="_blank" rel="noopener">AGEL</a>), announced that it received a letter of award for a 300 MW wind energy project.</p>
<p>Adani said that it won the projects in the Solar Energy Corporation of India’s (SECI) <a href="https://mercomindia.com/seci-wind-auction-tranche-x-results/" target="_blank" rel="noopener">auction</a> for 1.2 GW of interstate transmission system (ISTS) connected wind power projects (Tranche-X). The tariff for the project was set at ₹2.77 (~$0.038)/kWh for 25 years.</p>
<p>The Ahmedabad-based renewable energy developer said its total renewable energy capacity now stood at around 15.2 GW. Of this, about 3.4 GW are operational, and the around 11.8 GW of projects are being implemented.</p>
<p>“Wind energy forms an essential part of our business approach and is expected to continue a vital contribution to our growth plans. This award of 300 MW Wind Power Project is in line with our commitment to ramp up the creation of a sustainable ecosystem for transitioning towards a greener future,” said Vneet S. Jaain, Managing Director and Chief Executive Officer, AGEL.</p>
<p>In February, the Central Electricity Authority had <a href="https://mercomindia.com/adani-green-energy-transmission-lines-wind-project/" target="_blank" rel="noopener">permitted</a> AGEL to construct transmission lines for a 300 MW wind project in Gujarat for 25 years. The company is now set to develop a 220 kV single current line and connected bays at the generation end in Narayanpur village, Kutch, Bhuj.</p>
<p>It is supposed to develop a 220 kV single current line and its connected line bays at both ends in Vayat village, Kutch, Bhuj. The overhead transmission lines will pass through several villages, including Nakhatrana, Abdasa, Mandvi, and Bhuj in the Kutch district.</p>
<p>Earlier, Adani Wind Energy Kutch Three, a subsidiary of AGEL, <a href="https://mercomindia.com/daily-news-wrap-up-adani-wind-project/" target="_blank" rel="noopener">commissioned</a> a 100 MW wind power project five months ahead of its schedule in Kutch, Gujarat. The project has a power purchase agreement with the Solar Energy Corporation of India at ₹2.82(~$0.039)/kWh.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/nithin-thomas-prasad/" class="vcard author" rel="author"><span class="fn">Nithin Thomas</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Nithin-2-1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Nithin Thomas,</strong> Staff reporter at Mercom India<br />
<a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" target="_blank" rel="noopener">More articles from Nithin Thomas.</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Nithin-2-1.jpg" width="102" height="102" /><a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" rel="noopener">Nithin Thomas</a> is a staff reporter at Mercom India. Previously with Reuters News, he has covered oil, metals and agricultural commodity markets across global markets. He has also covered refinery and pipeline explosions, oil and gas leaks, Atlantic region hurricane developments, and other natural disasters. Nithin holds a Masters Degree in Applied Economics from Christ University, Bangalore and a Bachelor&#8217;s Degree in Commerce from Loyola College, Chennai.<a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" rel="noopener">More articles from Nithin Thomas Prasad</a></div>
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Adani Receives Letter of Award for 300 MW Wind Power Projects

<p><a href="https://www.tatapower.com/" target="_blank" rel="noopener noreferrer">Tata Power</a> announced that its subsidiary, Tata Power Renewable Energy Limited (<a href="https://www.tatapowerrenewables.com/" target="_blank" rel="noopener noreferrer">TPREL</a>), has received a letter of award (LoA) to develop 100 MW of solar projects in Maharashtra.</p>
<p>The projects will supply power to Maharashtra State Electricity Distribution Company Limited (MSEDCL) under a power purchase agreement (PPA) for 25 years. TPREL <a href="https://mercomindia.com/maharashtra-approves-tariff-solar-tata-avaada/" target="_blank" rel="noopener noreferrer">won</a> this capacity in the state distribution company’s (DISCOM) tender (Phase-V) for the long-term procurement of power from 500  MW of intrastate solar projects to help it meet its renewable purchase obligations (RPO).</p>
<p>MSEDCL had approved a tariff of ₹2.90 (~$0.04)/kWh for these projects. The tender was initially <a href="https://mercomindia.com/msedcl-tender-solar-tariff-cap/" target="_blank" rel="noopener noreferrer">floated</a> in December 2019 with a ceiling tariff of ₹2.90 (~$0.038)/kWh. It was initially <a href="https://mercomindia.com/maharashtra-solar-tender-undersubscribed/" target="_blank" rel="noopener noreferrer">undersubscribed</a> as bids were received only for 350 MW with a quoted tariff of ₹2.90 (~$0.04)/kWh from two bidders – Tata Power Renewable Energy Limited (100 MW) and Avaada Energy Private Limited (250 MW).</p>
<p>Maharashtra has been behind on its RPO compliance, and it previously <a href="https://mercomindia.com/maharashtra-discom-penalized-non-compliance-rpos/" target="_blank" rel="noopener noreferrer">filed</a> a petition before the MERC against its new RPO regulations, asking it to not levy penalty on non-compliance of standalone annual targets and cumulative targets of RPO until 2022-23.</p>
<p>The project is required to be commissioned within 18 months from the date of the execution of the PPA. Tata Power said that the project is expected to generate 240 MW of power annually, offsetting about 240 million kilograms of carbon dioxide emissions into the atmosphere.</p>
<p>According to the company’s filing on BSE India, Tata Power’s renewable energy generating capacity will increase to about 3.56 GW after the addition of this project. Of this, 2.637 GW is currently operational, and the remaining 920 MW is under implementation.</p>
<p>Recently, Tata Power <a href="https://mercomindia.com/tata-power-develop-solar-project-gujarat/" target="_blank" rel="noopener noreferrer">announced</a> that TPREL also received a Letter of Award from Gujarat Urja Vikas Nigam Limited to develop a 120 MW solar project in the state. In February this year, GUVNL had <a href="https://mercomindia.com/gujarat-announces-500-solar-tender-ceiling-tariff-of/" target="_blank" rel="noopener noreferrer">issued</a> a request for selection (RfS) for the purchase of power from 500 MW of grid-connected solar projects (phase VIII). The maximum tariff payable to the selected bidder was set at ₹2.65 (~$0.037)/kWh.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/nithin-thomas-prasad/" class="vcard author" rel="author"><span class="fn">Nithin Thomas</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Nithin-2-1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Nithin Thomas,</strong> Staff reporter at Mercom India<br />
<a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" target="_blank" rel="noopener">More articles from Nithin Thomas.</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Nithin-2-1.jpg" width="102" height="102" /><a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" rel="noopener">Nithin Thomas</a> is a staff reporter at Mercom India. Previously with Reuters News, he has covered oil, metals and agricultural commodity markets across global markets. He has also covered refinery and pipeline explosions, oil and gas leaks, Atlantic region hurricane developments, and other natural disasters. Nithin holds a Masters Degree in Applied Economics from Christ University, Bangalore and a Bachelor&#8217;s Degree in Commerce from Loyola College, Chennai.<a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" rel="noopener">More articles from Nithin Thomas Prasad</a></div>
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Tata Power Set to Develop 100 MW of Solar Projects in Maharashtra

<p>The energy commission of Malaysia (<a href="https://www.st.gov.my/" target="_blank" rel="noopener noreferrer">Suruhanjaya Tenaga</a>) has awarded nearly 491 MW (490.88 MW) of large-scale solar projects to five companies.</p>
<p>The winning companies are ib vogt GmbH and Coara Solar, Cypark Resources Berhad and Impian Bumiria, JKH Renewables and Solarpack Asia, ENGIE Energie Services and TTL Energy, and Konsortium Beseri Jaya and Hanwha Energy Corporation Singapore.</p>
<p>The tender was <a href="https://mercomindia.com/malaysia-500-mw-solar-tender/" target="_blank" rel="noopener noreferrer">issued</a> in February 2019, by Suruhanjaya Tenaga to develop 500 MW of large-scale solar projects in Peninsular Malaysia. Once commissioned, the projects were to be connected to the grid and sell energy to Tenaga Nasional Berhad (TNB) under a power purchase agreement. This was the third large-scale solar project tender under the country’s large-scale solar program. The project capacity was between 1-100 MW and expected to be commissioned by 2021.</p>
<p>The tender document stated that interested bidders need to make a payment of RM 2,000 (~$490) for the purchase of the RfP documents.</p>
<p>In the notice inviting bidders, the electricity commission had stated that the proposals with the shallow connection would be encouraged to avoid unnecessary delays in the project implementation as well as reducing the cost of the interconnection. However, an alternative interconnection point may be offered by the bidder for consideration, subject to approval by the utility company.</p>
<p>Malaysia is a growing economy with rising energy demand. The country aims to increase its share of renewable energy from 2% to 20% by the year 2025.</p>
<p>In November 2018, Mercom <a href="https://mercomindia.com/malaysia-to-announce-tenders-500-solar-2019/" target="_blank" rel="noopener noreferrer">reported</a> that the Malaysian government was likely to come up with an open tender in 2019 for an estimated RM 2 billion (~$490 million) worth of solar projects.</p>
<p>The country’s leading utility company Tenaga Nasional Berhad (<a href="https://www.tnb.com.my/" target="_blank" rel="noopener noreferrer">TNB</a>), in April 2018, <a href="https://mercomindia.com/malaysia-ppa-60mw/" target="_blank" rel="noopener noreferrer">entered</a> into PPAs for 60 MW of grid-connected solar PV projects. This was after it <a href="https://mercomindia.com/tnb-ppas-180-mw-solar-malaysia/" target="_blank" rel="noopener noreferrer">entered</a> PPAs with six separate project developers to establish a combined 180 MW of grid-connected solar PV projects in March 2018. TNB had <a href="https://mercomindia.com/tenaga-nasional-berhad-secures-79-million-financing-50-mw-solar-project/" target="_blank" rel="noopener noreferrer">secured</a> RM 339 million (~$79 million) in financing from Affin Islamic Bank Bhd for a 50 MW large-scale solar project in Selangor, Malaysia, in August 2017.</p>
<p>Image credit: Solar Provider Group</p>
<p>&nbsp;</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/anjana/" class="vcard author" rel="author"><span class="fn">Anjana Parikh</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2019/06/Anjana2.png" width="112" height="121" />Anjana is a news editor at Mercom India. Before joining Mercom, she held roles of senior editor, district correspondent, and sub-editor for The Times of India, Biospectrum and The Sunday Guardian. Before that, she worked at the Deccan Herald and the Asianlite as chief sub-editor and news editor. She has also contributed to The Quint, Hindustan Times, The New Indian Express, Reader’s Digest (UK edition), IndiaSe (Singapore-based magazine) and Asiaville. Anjana holds a Master’s degree in Geography from North Bengal University, and a diploma in mass communication and journalism from Guru Ghasidas University, Bhopal.</p>
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