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					</table><p>Dalmia Cement Bharat (<a href="https://www.dalmiacement.com/" target="_blank" rel="noopener">DCBL</a>) will procure 10 MW of power from Kilavikulam Rajalakshmi Solar Power Developer’s captive solar project in Tamil Nadu.</p>
<p>Dalmia Cement will acquire 34.52% or three million equity shares of the solar power developer at a face value of ₹10 (~$0.1149) per share, aggregating to ₹30 million (~$344,754).</p>
<p>Kilavikulam Rajalakshmi Solar Power Developer is a special purpose vehicle for setting up captive solar projects in Tamil Nadu. Its 10 MW project is expected to be completed within two months.</p>
<p>According to the company’s annual report for 2023-24, Dalmia Cement procures 47% of its power from captive projects. Renewable sources comprise 185 MW of the 397 MW of power procured from captive projects.</p>
<p>The company achieved the highest captive renewable energy consumption at 27% in the financial year (FY) 2024.</p>
<p>In the same year, it met 33% of its total power requirements through renewable energy.</p>
<p>Dalmia Cement added 19 MW of renewable energy capacity in FY 2024. At the end of FY 2024, it had a total solar power generation capacity of 113 MW.</p>
<p>In 2024, the company acquired 18.13% of equity shares of O2 Renewable Energy to source 11 MW of power from Karnataka-based wind projects.</p>
<p>In October last year, Dalmia Cement <a href="https://www.mercomindia.com/dalmia-cement-to-procure-6-mw-power-from-atria-wind-in-karnataka" target="_blank" rel="noopener">announced</a> it would procure wind power from Atria’s 6 MW wind power project in Karnataka as a captive consumer. The company entered a share purchase and shareholders agreement to acquire 5.39% of Atria Wind Power’s equity share capital.</p>
<p>In September 2024, the company <a href="https://www.mercomindia.com/dalmia-cement-to-power-from-solsolis-energy" target="_blank" rel="noopener">signed</a> an agreement to procure up to 11.2 MW of solar power as a captive consumer from Solsolis Solar Energy Solutions in Odisha. It acquired 3.02 million equity shares aggregating to an investment of ₹30.2 million (~$361,468) to be made in one or more tranches.</p>


Dalmia Cement to Procure 10 MW Solar Power from Captive Project


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					</table><p>France-based energy solutions provider <a href="https://www.engie.com/en" target="_blank" rel="noopener">ENGIE</a> will develop a 22 MW solar photovoltaic project for Saudi Arabia’s Al Jouf Cement Company near Turaif in the country’s Northern Borders Province.</p>
<p>The two companies signed a power purchase agreement (PPA) for the project covering an area of 420,000 square meters.</p>
<p>The solar project is expected to cut carbon emissions by approximately 1.48 million tons over its 25-year operational lifespan.</p>
<p>By generating on-site renewable power, the project will help Al Jouf Cement reduce dependence on conventional energy sources while ensuring stable energy costs under the fixed-rate PPA agreement.</p>
<p>The cost of procuring power from the solar project will be lower than Al Jouf’s current procurement costs from its heavy fuel oil power plant and lower than the industrial electricity costs if connected to the national grid. The solar project is expected to contribute approximately 25% of the company’s electricity needs upon completion. Al Jouf will not incur any financing for the project, as it will not bear any capital or operational expenses.</p>
<p>Al Jouf is expected to save SAR3.6 million (~$0.96 million) in electricity costs annually.</p>
<p>The project is tailored to meet Al Jouf’s operational needs and will integrate state-of-the-art technology, including rooftop and ground-mounted installations, to optimize energy generation.</p>
<p>ENGIE will manage the project end-to-end, covering design, development, construction, and ongoing maintenance.</p>
<p>Saudi Arabia is actively pushing for the diversification of energy resources and collaborating with the private sector to decarbonize industries as part of a broader strategy to achieve its net-zero ambitions.</p>
<p>The move aligns with the country’s Vision 2030 goals to transform its economy and reduce its reliance on fossil fuels.</p>
<p>Pierre Cheyron, ENGIE’s Managing Director for Energy Solutions in the AMEA region, said, “Our collaboration with Al Jouf Cement demonstrates how renewable energy projects can transform energy-intensive industries.”</p>
<p>In September, the Saudi Power Procurement Company <a href="https://www.mercomindia.com/saudi-arabia-renewable-energy-projects" target="_blank" rel="noopener">invited</a> bids for solar photovoltaic and wind energy projects with a combined capacity of 4,500 MW.</p>
<p>Earlier this year, ENGIE <a href="https://www.mercomindia.com/engie-signs-%E2%82%B914-6-billion-loan-with-adb" target="_blank" rel="noopener">signed</a> a loan agreement with the Asian Development Bank for a 400 MW solar photovoltaic power project in Gujarat, India.</p>


ENGIE to Build 22 MW Solar Project for Saudi Cement Factory


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					</table><p>A parliamentary committee has asked the government to seek postponement of the application of the <a href="https://european-union.europa.eu/index_en" target="_blank" rel="noopener">European Union</a>’s Carbon Border Adjustment Mechanism (CBAM) to the Micro, Small &amp; Medium Enterprises (MSME) sector by at least three years.</p>
<p>In a recent report, the <a href="https://sansad.in/rs/committees/13?departmentally-related-standing-committees" target="_blank" rel="noopener">Standing Committee on Commerce</a> expressed concern over the potential hindrances posed by tariff and non-tariff barriers raised by the EU and the U.S., which could impede the growth of the MSME sector.</p>
<p>Early last year, India and China <a href="https://www.mercomindia.com/india-voices-concern-over-europes-carbon-tariff-measure-at-wto" target="_blank" rel="noopener">expressed</a> concern over CBAM at the World Trade Organization (WTO). The issue is likely to figure at the WTO’s Ministerial Conference to be held in Abu Dhabi from February 26 to 29.</p>
<p>While acknowledging the noteworthy role played by engineering exports in the overall merchandise exports of India and the prospect of achieving the $300 billion export target by 2030, the standing committee felt that Indian manufacturers in the MSME sector may not have the financial resources to make changes to overcome the challenge posed by CBAM.</p>
<p>To protect the MSME sector from the U.S.’ Expansion Act of 1962 and non-tariff barriers in the form of CBAM, the committee recommended that the government engage at the highest level with the U.S. and EU, respectively, to resolve the matter.</p>
<p>It also recommended putting in place a robust mechanism to support and equip MSMEs to counter the adverse effects of CBAM.</p>
<p>With the European Commission adopting the rules governing the implementation of the carbon tariff on imported goods, the transitional phase of CBAM <a href="https://www.mercomindia.com/eu-adopts-rules-governing-carbon-tariff-measure" target="_blank" rel="noopener">started</a> last October. It will be in force until the end of 2025, with full implementation starting in 2026. CBAM will initially apply to imported products and commodities like cement, iron and steel, aluminum, fertilizers, electricity, and hydrogen.</p>
<p>The carbon tariff measure has governments and exporters of goods from countries outside the EU worried because they fear their competitiveness will be adversely impacted by having to pay a price for the carbon emissions generated during the manufacture of goods. The tariffs on goods manufactured by hard-to-abate sectors like steel and cement are expected to be as high as 35%.</p>
<p>Besides manufacturers in the MSME sector, the Indian steel industry is also likely to face negative consequences of the EU’s carbon tariff measure.</p>


Seek Deferment of CBAM by Three Years, Parliamentary Panel Tells Government


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					</table><p>In an exclusive interview with Mercom India, Rahul Mishra, Senior VP and Head of Commercial &amp; Industrial (C&amp;I) at <a href="https://blupineenergy.com/" target="_blank" rel="noopener">BluPine Energy</a>, shared his views on the recent trends in the green energy open access market and the C&amp;I energy transition in India.</p>
<p>BluPine Energy is a renewable energy solutions provider to the C&amp;I segment, with a development portfolio of over 4 GW in solar, wind, and storage assets.</p>
<p>The company has earmarked ~1 GW of its capacity specifically for the C&amp;I segment consumers, with the remaining to be allocated to utility-scale developments, greenfield initiatives, energy storage, and potential mergers and acquisitions.</p>
<p>Mishra spoke about the current opportunities and challenges the C&amp;I segment consumers must consider when transitioning to renewables.</p>
<p>Here are the excerpts from the interview:</p>
<p><strong>In which industrial segments has the green energy demand grown over the past few years and why?</strong></p>
<p>The surge in green energy demand spans various industrial segments, driven by capacity expansion, economic growth, and evolving environmental targets. Notably, large process industries like steel and cement have witnessed a significant rise in green energy demand across all states. This increase is attributed to the capacity expansions these industries undergo and the stringent emission targets they must meet. As they expand, these industries require more energy and face heightened pressure to reduce environmental impact, leading to a shift towards renewable energy sources.</p>
<p>Another crucial area of growth is seen among new-age hyperscale consumers, particularly those managing data centers. These facilities require massive amounts of energy to operate, and as data usage and storage needs grow exponentially, so does their energy consumption. Recognizing the importance of sustainability and the need to mitigate their environmental impact, these data centers are actively transitioning towards green energy. In the foreseeable future, they are expected to be among the largest buyers of renewable energy.</p>
<p><strong>What are the criteria a C&amp;I consumer must consider when opting for open-access renewables in India?</strong></p>
<p>When opting for open-access renewables in India, C&amp;I consumers consider a few key factors to make informed decisions. This is crucial, especially with the notable expansion of C&amp;I open access capacities in states like Tamil Nadu, Karnataka, Maharashtra, and Gujarat, collectively contributing significantly to India’s total capacities in this sector.</p>
<p>The regulatory landscape for open-access renewable energy differs considerably among Indian states. C&amp;I consumers should comprehensively grasp how the power they plan to procure will be consumed or offset against their overall consumption. Energy settlement is pivotal for both the generator and the off-taker, necessitating a thorough understanding of regulatory intricacies and compliance requirements in the specific state in which they are operating.</p>
<p>choice of the energy generator is paramount. C&amp;I consumers must evaluate factors such as the generator’s size, financial stability, and adeptness in navigating and complying with the Indian regulatory framework. Businesses must align with a generator boasting a proven track record of successful development and execution of renewable energy projects, as well as a demonstrated history of structuring complex solutions.</p>
<p>Open-access renewable energy projects typically entail enduring commitments. C&amp;I consumers should anticipate engaging in extended contracts, potentially lasting for decades. Recently, there has been a trend towards more prolonged commitments, with some consumers now open to signing contracts spanning up to 25 years, a shift from the previous norm of 10-15 years. This extended partnership guarantees energy security and price stability and fosters sustainable project development for the consumer.</p>
<p><strong>What are the usual challenges that stop C&amp;I consumers from transitioning to green energy?</strong></p>
<p>A primary obstacle hindering the transition to green energy is the regulatory framework, which frequently restricts the amount of energy sourced from renewable sources. These regulations differ among states and can substantially impact the extent to which C&amp;I consumers can embrace renewable energy.</p>
<p>The energy market is slowly embracing hybrid solutions, where real-time settlement of renewable energy displaces a significant portion (around 70-80%) of current consumer consumption. However, the advancement and acceptance of these solutions are ongoing. The key to this evolution lies in the increased execution of power purchase agreements (PPAs) and the stabilization of energy exchange market volumes.</p>
<p>Achieving 100% displacement faces challenges without supportive banking regulations and economically viable energy storage solutions. Nevertheless, it is anticipated that in the next 2-3 years, advancements in energy storage technology will pave the way for a substantial shift towards renewable sources, allowing for a more significant displacement of conventional energy consumption.</p>
<p><strong>How does BluPine plan to manage the RTC renewable energy demand for C&amp;I consumers?</strong></p>
<p>BluPine Energy has a strategic approach to managing the Round-the-Clock (RTC) renewable energy demand for C&amp;I consumers.</p>
<p>To ensure a reliable energy supply, we intend to integrate solar + wind energy solutions. The complementary nature of these sources enhances stability and provides a continuous supply of energy, effectively meeting the real-time and continuous (RTC) energy demands of C&amp;I consumers.</p>
<p>Recognizing the pivotal role of energy storage in managing RTC loads, BluPine Energy is committed to incorporating storage solutions into the energy mix in the future. Technologies like batteries will store excess energy generated during peak production, ensuring a consistent energy supply even during periods of low renewable energy generation, thus bolstering reliability and providing firmness of supply.</p>
<p>BluPine Energy aims to meet the energy needs of C&amp;I consumers efficiently by optimizing our operating assets and actively engaging in the exchange market. This combined strategy enables us to address a significant portion (80-100%) of our clients&#8217; energy consumption. By harmonizing energy generation from our assets and complementing it through market participation, we offer a flexible and responsive energy supply that meets the diverse demands of C&amp;I consumers.</p>
<p><strong>What is your take on the Open Access market outlook in the coming year?</strong></p>
<p>The C&amp;I market has rapidly evolved, witnessing significant capacity additions by independent power producers in the last 3-4 years. This growth trajectory is expected to persist, with an estimated 30-40 GW of C&amp;I open access capacities projected to be added in the next 4-5 years.</p>
<p>This expansion is driven by an increased focus on climate change commitments. Corporations and their management teams are increasingly prioritizing the implementation of net-zero commitments, contributing to a substantial scale-up in renewable energy adoption.</p>
<p>Additionally, national-level policies in this domain are encouraging. Optimism surrounds expectations that regulations will become more streamlined and markets will increasingly support RTC load-following renewable energy projects tailored for C&amp;I consumers.</p>
<p><strong>How do you see merchant power projects evolve in India, and does BluPine plan to install more projects?</strong></p>
<p>The development of merchant power projects in India is closely tied to the expansion of the C&amp;I segment and the maturity of exchange markets. As the scale of the C&amp;I business grows, the merchant power market is anticipated to become a significant by-product. The evolution of exchange markets, particularly in terms of volumes (currently at 6-8%), will be a crucial factor. When volumes rise towards the 20-25% range, the landscape for merchant power projects is expected to gain prominence.</p>
<p>In response to these market dynamics, BluPine Energy strategically plans to integrate corporate merchant power projects into our portfolio. Specifically, we aim to allocate about 10-15% of our total portfolio to merchant exposure. This decision aligns with our broader strategy to capitalize on market opportunities, diversify our offerings, and mitigate risks associated with the evolving energy landscape.</p>
<p><strong>What is the most significant difference you see in developing utility-scale projects for DISCOM offtake vs projects under the open access model?</strong></p>
<p>Developing utility-scale projects for DISCOM offtake compared to those under the open access model primarily varies in three aspects: regulatory understanding, influencing project planning and requirements; approvals and timelines, with DISCOM projects often facing more complex and lengthier processes; and the power settlement mechanism, involving distinct approaches in terms of approvals and operational processes. Navigating these differences requires a careful understanding of the regulatory environment and strategic planning for successful project implementation. Additionally, the timelines to execute open access projects once the PPAs with C&amp;I customers have been executed are also more shorter compared to utility-scale projects.</p>


30-40 GW of Open Access Green Energy Could be Added in 4-5 Years: Interview


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					</table><p><a href="https://orianapower.com/" target="_blank" rel="noopener">Oriana Power</a>, a Noida-based renewable energy company, has secured a ₹1 billion (~$12.08 million) contract for the turnkey engineering, procurement, and construction (EPC) of a 29 MW captive open access solar project for a renowned steel manufacturer in Karnataka.</p>
<p>The project is expected to be commissioned in five months. Oriana Power will oversee all aspects of the project&#8217;s lifecycle, from design and engineering to supply and installation. Additionally, the company will provide operation and maintenance services for an entire year after the commissioning of the project.</p>
<p>Winning this contract comes on the heels of another recent order worth ₹343.90 million (~$4.14 million) for a 7 MWdc solar power project for a cement company based in Rajasthan. This project also includes the supply of auxiliary panels with metering and the supply and laying of cables for a new training center in Rajasthan.</p>
<p>The company has delivered over 100 MW of solar projects under two primary business models: Capital Expenditure (CAPEX) and the Renewable Energy Service Company (RESCO).</p>
<p>Oriana Power recently won the auction to <a href="https://www.mercomindia.com/oriana-power-wins-epc-solar-project-from-coal-india" target="_blank" rel="noopener">construct</a> a 20 MW ground-mounted solar photovoltaic power project in Dhanbad, Jharkhand, for Bharat Coking Coal, a subsidiary of Coal India.</p>
<p>Oriana was recently <a href="https://cms.mercomindia.com/seci-empanels-six-installers-50-mw-rooftop-systems/" target="_blank" rel="noopener">added</a> to Solar Energy Corporation of India’s list of empaneled EPC contractors for 5.98 MW out of 50 MW grid-connected rooftop solar systems.</p>
<p>Mercom recently <a href="https://www.mercomindia.com/karnatakas-ci-power-costs-with-open-access-solar" target="_blank" rel="noopener">reported</a> on how Karnataka’s commercial and industrial consumers can save 20-30% in power costs with solar open access.</p>
<p>According to the recently published <a href="https://www.mercomindia.com/product/q2-2023-mercom-india-solar-open-access-market-report" target="_blank" rel="noopener">Q2 2023 Mercom India Solar Open Access Market Report</a>, Karnataka accounted for more than 34% of the cumulative solar open access capacity at the end of the first half 2023.</p>
<p>In December last year, Steel Minister Jyotiraditya Scindia <a href="https://www.mercomindia.com/government-mulls-mandating-green-steel-public-projects" target="_blank" rel="noopener">told</a> Parliament that the government of India is considering mandating the use of ‘green steel’ in government projects with the goal of decarbonizing one of the most hard-to-abate sectors.</p>


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