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Daily News Wrap-Up: APTEL Criticizes MERC for Denying Petitioner Relief

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					</table>The expansion of the free market is expected to be a major driving force behind the growth of onshore wind energy in South America over the next decade, according to a recent analysis by <a href="https://www.woodmac.com/" target="_blank" rel="noopener">Wood Mackenzie</a>.
The analysis predicts that the total onshore wind market in the region will add approximately 41.2 GW of projects by 2032. This substantial activity is projected to result in a cumulative capacity of 75 GW by 2032, a significant increase of 122% from the 34 GW recorded at the end of 2022.
The report, titled &#8220;South America Onshore Power Outlook&#8221; from Wood Mackenzie, indicates that Brazil will lead the way in this timeframe, accounting for 23 GW and 56% of the overall growth, with Chile following closely behind.
<img loading="lazy" decoding="async" class="aligncenter wp-image-56328 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Picture1-2.png" alt="" width="752" height="475" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Picture1-2.png 752w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Picture1-2-300x189.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Picture1-2-650x411.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Picture1-2-624x394.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Picture1-2-600x379.png 600w" sizes="(max-width: 752px) 100vw, 752px" />
&#8220;In the past, the growth of onshore wind energy in South America has primarily relied on regulated processes through auctions. However, there has been a shift towards a new wave of free market activity,&#8221; stated Kárys Prado, Senior Research Analyst for Power &amp; Renewables at Wood Mackenzie.
Wood Mackenzie’s analysis anticipates a significant transition where major consumers in the commercial and industrial (C&amp;I) sectors will move away from auctions and seek favorable power purchase agreements in the unregulated (or free) market.
This shift will drive considerable expansion in South America, particularly in Argentina, Brazil, Chile, and Peru. However, less developed markets like Colombia and Ecuador will continue to rely on the regulated market.
Green hydrogen is also expected to play a crucial role in the industry&#8217;s long-term growth. Brazil and Chile, in particular, are projected to add 1.5 GW of capacity by 2032 to support green hydrogen initiatives.
While several announcements have been made regarding multi-gigawatt projects, their development is still in the early stages, with significant scaling anticipated after 2030.
Kárys Prado from Wood Mackenzie emphasized the challenges posed by grid limitations in wind-rich regions like Colombia&#8217;s La Guajira, as well as the growing competition from solar energy, which may impede capacity expansions.
Prado noted that although wind energy has enjoyed historical advantages, its dominance is expected to diminish over time as solar projects become more cost-effective and can be deployed over a wider geographic range.
Brazil&#8217;s wind power sector has recently witnessed remarkable progress despite these challenges. According to a recent analysis by Wood Mackenzie, Brazil <a href="https://www.mercomindia.com/global-wind-turbine-setting-new-record" target="_blank" rel="noopener">reached</a> a record-high order intake for wind turbines in the first quarter of 2023, driven by increasing demand.
According to data released by the country’s National Electric Energy Agency (ANEEL), renewable sources <a href="https://www.mercomindia.com/renewables-84-power-generated-brazil-1h-2023" target="_blank" rel="noopener">accounted</a> for 83.64% of the 193.9 GW of power generated in Brazil between January and June this year.
Many companies across Brazil have also started taking up renewable projects with higher capacities.
In April this year, ArcelorMittal Brazil, a steel manufacturer, and Casa dos Ventos, a developer of renewable energy projects in Brazil, <a href="https://www.mercomindia.com/arcelormittal-wind-energy-india-brazil" target="_blank" rel="noopener">joined</a> forces to create a joint venture partnership (JV) to build a 554 MW wind power project worth $800 million.

South America Set for 122% Expansion in Onshore Wind Power by 2032: Report

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					</table>Italy-headquartered <a href="https://www.enel.com/" target="_blank" rel="noopener">Enel</a>, along with its Chilean subsidiary, has recently entered into an agreement to sell a 416 MW portfolio of solar photovoltaic power projects in Chile to <a href="https://www.sonnedix.com/" target="_blank" rel="noopener">Sonnedix</a>, a renewable energy producer, for $550 million.
These projects are owned by Arcadia Generacion Solar.
The portfolio includes the following solar photovoltaic projects, Diego de Almagro (36 MW), Carrera Pinto (97 MW), Pampa Solar Norte (79 MW), and Domeyko (204 MW). Together, these projects generate an estimated net energy of 1 TWh/year.
Enel expects the transaction to reduce its debt by approximately  €504 million ($560.9 million) and contribute around €20 million (~$22.2 million) to its net income in 2023.
The strategic move will help Enel optimize its asset base and improve its risk-return profile. Sonnedix, an international renewable energy producer, aims to expand its sustainable electricity portfolio by acquiring these equity interests.
Enel is a prominent player in Chile&#8217;s renewable energy market through its subsidiary Enel Chile. The company boasts a diversified portfolio that includes wind, solar, hydroelectric, and geothermal projects.
Sonnedix, an international renewable energy producer, has experience developing, building, and operating sustainable electricity projects. The company has a total capacity of over 9 GW and a development pipeline of over 6 GW across various countries, including Chile, France, Germany, Italy, Japan, Poland, Portugal, Spain, the USA, and the UK.
Recently Enel North America <a href="https://www.mercomindia.com/enel-billion-solar-factory-oklahoma" target="_blank" rel="noopener">announced</a>, through its affiliate 3Sun USA, it will construct a 3 GW large-scale solar module manufacturing facility in Oklahoma. Estimated to cost over $1 billion, the planned factory is claimed to be among the first in the U.S. to produce solar cells incorporating bifacial heterojunction technology.
Last August, Enel reached an <a href="https://www.mercomindia.com/norways-climate-investment-49-stake-solar-project-rajasthan" target="_blank" rel="noopener">agreement</a> with the Norwegian Climate Investment Fund and Norway’s largest pension fund, KLP. The agreement involved the acquisition of a 49% stake in Enel’s Thar Surya 1 solar power project in India. The project has a capacity of 420 MW and is estimated to cost approximately ₹2.8 billion (~$33.8 million).

Enel to Sell 416 MW Solar Projects in Chile for $550 Million

Here are some noteworthy cleantech announcements of the day from around the world:
<a href="https://www.torrentpower.com/index.php/site/indexs" target="_blank" rel="noopener">Torrent Power</a> announced the completion of its acquisition of 100% of the share capital and all securities of the special purpose vehicle (SPV) Lightsource Renewable Energy Holdings Limited (LREHL) Renewables India SPV1, which operates a 50 MW solar project in Maharashtra. The acquisition agreement was previously <a href="https://mercomindia.com/torrent-power-acquires-100-50-mw-solar-project-maharashtra/" target="_blank" rel="noopener">signed</a> by Torrent Power with Lightsource India and Lightsource Renewable Energy in August last year.
NTPC, in a recent notification, <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/ef4aa1b0-7606-4a2b-b728-fe1243e326d1.pdf" target="_blank" rel="noopener">announced</a> the commissioning of a third part capacity of 42.5 MW out of 100 MW Ramagundam floating solar project at Ramagundam, Telangana. With this commissioning, the standalone installed and commercial capacity of NTPC has become 54.5 GW. Further, the group installed and commercial capacity of NTPC has become 68.6 GW and 67.9 GW, respectively.
Alpina Holdings, a Singapore-based building and engineering service provider, announced that its wholly-owned subsidiary, Digo Corporation, and <a href="https://terrenus.energy/" target="_blank" rel="noopener">Terrenus Energy</a>, have been jointly awarded the sixth solar leasing tender under the SolarNova program by the Housing &amp; Development Board. Terrenus Energy is a renewable energy systems developer and solutions provider based in Singapore. With a solar capacity of 70 MWp, the project will be able to meet public sector demand for the installation of solar panels across 1,198 HDB blocks and 57 government sites.
UbiQD, a tech company specializing in nanomaterials innovation, and Heliene, a provider of solar modules, <a href="https://www.prnewswire.com/news-releases/ubiqd-and-heliene-initiate-joint-development-of-agrivoltaic-modules-for-greenhouses-301506390.html" target="_blank" rel="noopener">announced</a> the initiation of joint development of Agrivoltaic modules for greenhouses. The joint development agreement intends to embed UbiGro sunlight optimizing technology in Heliene&#8217;s photovoltaic modules. &#8216;Agrivoltaics&#8217; is a product that will help crop production and electricity production to occur simultaneously and in the same area. For a greenhouse, this means allowing a large portion of the sunlight to pass through to the crop below, with the remaining portion being converted into solar power.
Idaho Power, a U.S.-based energy company, <a href="https://www.idahopower.com/news/idaho-power-and-micron-technology-partner-to-advance-solar-powered-renewable-energy-in-idaho/" target="_blank" rel="noopener">announced</a> its partnership with Micron Technology, a memory and storage solutions company, to construct a new 40 MW solar project. The project will support Micron’s goal to source 100% renewable energy for its U.S. operations by 2025. As part of the contract, Idaho Power has asked the Idaho Public Utilities Commission (IPUC) to approve a power purchase agreement with Black Mesa Energy, LLC, to develop a dedicated solar facility for Micron’s renewable energy use. The new facility will be located near Micron’s Boise corporate headquarters.
Atlas Renewable Energy, a U.S.-based renewable energy generator, <a href="https://www.atlasrenewableenergy.com/en/atlas-renewable-energys-sol-del-desierto-solar-plant-244-mwp-in-chile-will-avoid-co2-emissions-equivalent-to-47-thousand-vehicles-per-year/" target="_blank" rel="noopener">announced</a> the commissioning of its Sol del Desierto solar power plant with a total capacity of 244 MW. The project located in the commune of María Elena, Antofagasta Region in Chile, is one of the largest projects in the country. With 582,930 solar panels spread over 479 hectares, the plant will generate 714 GWh annually. The project has already started operations, has a long-term solar power purchase agreement (PPA) between Atlas Renewable Energy and Engie Energía Chile, agreeing to supply 550 GWh per year of solar energy for 15 years. The plant’s generation enables the supply of clean energy to 345,198 homes.

Daily News Wrap-Up: Torrent Power Completes Acquisition of a 50 MW Solar Project

The National Energy Commission of Chile (<a href="https://www.bnamericas.com/en/company-profile/comision-nacional-de-energia-cne-chile" target="_blank" rel="noopener">CNE</a>) has announced the list of bidders for the procurement of 2.31 TWh/year of renewable energy. The lowest bid submitted was $0.01332 (~₹0.98)/kWh, with several bids in the $0.021 (~₹1.54)/kWh and $0.028 (~₹2.05)/kWh range.
According to the local daily La Tercera, the lowest bid was offered by Canadian Solar Libertador Solar Holding for a solar project.
In all, 29 bidders participated in the bidding process to supply power to regulated customers of the National Electric System for 15 years starting in 2026.
The bidding process was carried out by Empresas Eléctricas AG and by Enel.
Within the new bidding law framework, CNE is responsible for designing, coordinating, and directing the public bidding process for this year. The objective of the bidding process is to help electricity distribution companies to have contracts for the long-term supply of electricity to their customers subject to price regulations.
The bidding terms consider reducing risks to encourage the participation of different energy suppliers, achieve competitive prices that benefit regulated customers and give more access to different types of energy, including storage.
The list of bidders included Acciona Energía Chile Holdings, Eólica Monte Redondo, Inversiones Hornitos, Solar Los Loros, Enel Generación Chile, Sonnedix PPA Holding, Chagual, Energía, FRV Development Chile I, Racó Energía, Colbún, Hidroeléctrica Rio Lircay, OPDE Chile, Copiapó Energía Solar, Duqueco, PV Salvador, Energía Coyanco, Inversiones La Frontera Sur, Chungungo Sociedad Anónima, Atlas Energia, Likana Solar, Wind Farm Vientos del Pacífico, Canadian Solar Libertador Solar Holding, Renovalia Chile Dos, Pacific Hydro Chile, San Andrés Wind Farm, Conejo Solar, Librillo Solar, Carica Wind Farm, and GR Power Chile.
The supply tender consists of three units of hourly blocks N ° 1-A, N ° 1-B, and N ° 1-C, totaling 2,310 GWh, all for the electricity supply starting in 2026 and for 15 years.
Chile added 2.5 GW of new renewable capacity in the first half of 2021, according to energy commission CNE. This was 1 GW more than was added during the whole of last year. Renewables contribute 28% to Chile&#8217;s total power capacity.
In May this year, Sonnedix, the global solar independent power producer (IPP), and Cox Energy América, a solar energy company, <a href="https://mercomindia.com/project-finance-brief-sonnedix-cox-energy/" target="_blank" rel="noopener">closed</a> a $120 million financing from Sumitomo Mitsui Bank Corporation through the joint venture Sonnedix Cox Energy Chile. The financing will cover the IPP&#8217;s 160 MW development project Sonnedix Meseta de Los Andes solar project in Chile. The project is located in the Valparaíso Region of Chile, in the municipalities of Calle Larga and Los Andes.
Virginia-headquartered AES Corporation has <a href="https://mercomindia.com/daily-news-wrap-up-ntpc-solar-park/" target="_blank" rel="noopener">signed</a> an agreement with the government to retire over 1 GW of coal capacity in Chile by 2025. The announced capacity includes roughly 20% of the country&#8217;s installed coal volume.

Chile Announces the Lowest Bid of $0.01332/kWh in its Renewable Energy Auction

Highview Enlasa, a 50/50 joint venture between <a href="https://highviewpower.com/" target="_blank" rel="noopener">Highview Power</a>, a long-duration energy storage solutions provider, and <a href="https://www.enlasa.cl/en/home.html" target="_blank" rel="noopener">Energía Latina S.A.-Enlasa</a>, a backup power generation provider in Chile, has announced the development of the first liquid-air long-duration energy storage project in Chile.
The 50 MW/500 MWh (10 hours) CRYOBattery™, representing an estimated investment of $150 million, will be in Diego de Almagro in the Atacama region. Construction on the project is estimated to start in the second half of 2023.
Highview Power designed and developed the CRYOBattery™, a proprietary cryogenic energy storage system that aims to enable a 100% renewable energy future. Its proprietary technology uses liquid air as the storage medium and can deliver anywhere from 20 MW/100 MWh to more than 200 MW/2 GWh of energy and has a lifespan of over 30 years. Developed using proven components from mature industries, it delivers pumped-hydro capabilities without geographical constraints and can be configured to convert waste heat and cold to power.
Energía Latina is an open joint-stock company and the parent company of a corporate conglomerate. Its affiliate Enlasa Generación Chile SA owns the historical generation assets.
With one of the highest solar irradiations in the world, the Atacama region has the potential to generate all the country&#8217;s electricity. By pairing solar with cryogenic energy storage, Chile can benefit from round-the-clock 100% renewable energy.
Engineering, procurement, and construction (EPC) on the latest project will be carried out by SK Ingeniería y Construcción, a Chile-based EPC contractor and a subsidiary of the Sigdo Koppers group.
Currently in the pre-feasibility engineering phase, the project is scheduled to enter environmental permitting in August.
&#8220;This is a big step forward to enabling decarbonization goals for Chile,&#8221; said Javier Cavada, Chief Executive Officer and President of Highview Power. &#8220;Our liquid-air energy storage technology is the optimal solution for the large-scale, long-duration energy storage that is needed to balance the grid, without the geographic constraints associated with other energy storage technologies,&#8221; he elaborated.
The Highview Enlasa joint venture would open Latin American energy markets to baseload renewable energy potential. The firm noted that when paired with renewable energy sources such as solar, Highview Power’s long duration energy storage system is equivalent in performance to thermal and nuclear power.
&#8220;The objective of our company is to make this innovative technology available to the market and all actors in the electrical and mining sectors,&#8221; said Fernando del Sol, President of Highview Enlasa. Sol feels that these plants can replace traditional coal plants, which will help the firm accelerate the decarbonization process in Chile and combat climate change.
Highview Power&#8217;s proprietary cryogenic energy storage technology utilizes air liquefaction, in which ambient air is cooled and turned to liquid at -196 °C (-320 ˚F). The liquid air is stored at low pressure and later heated and expanded to drive a turbine and generate power.
It is reportedly the only long-duration energy storage solution available today that is locatable and can offer multiple gigawatt-hours (weeks) of storage. The CRYOBattery™ has a small footprint and is scalable with no size limitations or geographic constraints, allowing for the deployment of massive amounts of renewables. Highview Power noted that their cryogenic energy storage plants offer valuable capabilities, including voltage control, grid balancing, and synchronous inertia that give grid operators the flexibility to manage power and energy services independently.
Last month, Highview Power had <a href="https://mercomindia.com/highview-power-2gwh-energy-storage-projects-in-spain/" target="_blank" rel="noopener">announced</a> that it was developing similar long-duration liquid-air energy storage projects of up to 2 GWh in Spain with an estimated investment of about $1 billion (~₹73.14 billion). The company said that the projects would help various regions in Spain to achieve their net-zero emission targets.
In February this year, Highview Power had said that it had <a href="https://mercomindia.com/funding-and-ma-roundup-enphase-din-engineering/" target="_blank" rel="noopener">closed</a> its Growth Capital round of funding with over $70 million, bringing the total amount of funding and grants the company has secured to date to over $145 million.
Image Credit: Highview Power

50 MW/500 MWh Liquid-Air Energy Storage Facility Coming to Chile

Here are some noteworthy cleantech announcement of the day from around the world:
Sterling and Wilson Solar Limited has <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/1e28da7d-621e-4bf0-8280-6202fff562f4.pdf" target="_blank" rel="noopener noreferrer">won</a> a 106.71 MW EPC project worth $62.6 million in Chile. The company received the order from a global independent power producer. The project work is expected to begin in the fourth quarter of the financial year 2021. The company said that it has a strong presence in the region with one project of 93.3 MW in Argentina and three projects of 588 MW under construction in Chile.
Jinko Solar, a solar module manufacturer, has <a href="https://www.prnewswire.com/news-releases/jinkosolar-supports-japans-largest-oil-refiner-to-build-gas-station-pv-power-plant-in-japan-301133143.html" target="_blank" rel="noopener noreferrer">announced</a> that it is supplying solar modules to Japan&#8217;s largest oil refiner ENEOS Corporation to build a gas station PV power plant. The company said that its monocrystalline solar modules would be deployed and installed on the rooftop of several gas stations, connected to a cloud-based distributed power project.
Enel Green Power Panama, a subsidiary of Enel SpA, has <a href="https://www.enelgreenpower.com/media/press/2020/09/enel-green-power-panama-begins-the-construction-of-a-new-solar-plant-in-jaguito" target="_blank" rel="noopener noreferrer">begun</a> constructing the 13.12 MW Jagüito photovoltaic solar project located in the central province of Coclé. The project is a part of Enel Green Power Panama&#8217;s $50 million investment plan in the photovoltaic generation. The project is expected to be completed in the first half of 2021. The project will generate around 21.41 GW of clean energy while reducing 11,800 tonnes of carbon dioxide emissions annually.
Akuo Energy, HBG Holdings, and Nour Energy have <a href="https://www.akuoenergy.com/en/documents/getPdf/1600246746-cp-tunisie-vdef-en.pdf" target="_blank" rel="noopener noreferrer">signed</a> a power purchase agreement with Tunisia-based electricity and gas company STEG for a 10 MW of solar project. The financing for the project is expected to complete in 2021, and the project is expected to become operational in 2022. The project, located in the Gabès governorate, will generate around 23 GW of renewable energy annually.
The Federal Energy Regulatory Commission of the United States has <a href="https://www.ferc.gov/news-events/news/ferc-opens-wholesale-markets-distributed-resources-landmark-action-breaks-down" target="_blank" rel="noopener noreferrer">approved</a> a final rule enabling distributed energy resources aggregators to compete in regionally organized wholesale electric markets. The move empowers new technologies to come online and participate in a level playing field, enhancing competition, encouraging innovation, and driving down the cost for consumers. The final rule will be enacted 90 days after publication in the federal register.
DNV GL has <a href="https://www.dnvgl.com/news/dnv-gl-and-watttime-announce-strategic-partnership-185254" target="_blank" rel="noopener noreferrer">joined</a> hands with WattTime, a technology solution provider, to incorporate WattTime&#8217;s emission intelligence into its energy management and digital service expertise for renewables, storage, and efficiency. DNV GL&#8217;s utility, renewable, and storage project owner clients can make decisions to deliver clean energy impact by combining data on greenhouse gas emissions with energy efficiency, battery charging and discharging, demand response, and renewables.
Praj Industries, an Indian engineering company, and Automotive Research Association of India (ARAI) have entered into a Memorandum of Understanding to drive application development of advanced biofuels that will find usage in industry and transportation. Biofuels developed for the mobility sector will have a positive impact on the environment by way of reduced carbon footprint and improved tailpipe emissions. Praj Industries and ARAI will address technologies to propagate the use of biofuels in a variety of applications, including usage of internal combustion engines in the transportation sector.
Here is our <a href="https://mercomindia.com/daily-news-wrap-up-suntech-facility/" target="_blank" rel="noopener noreferrer">previous</a> daily news wrap-up.

Daily News Wrap-Up: Sterling and Wilson Wins a 107 MW Solar EPC Project Worth $63 Million

<a href="http://www.firstsolar.com/" target="_blank" rel="noopener noreferrer">First Solar</a>, a U.S.-based solar panel manufacturer, announced that its 141 MW Luz del Norte solar photovoltaic (PV) project in Chile secured a license to supply ancillary grid services on a commercial basis.
First Solar said that its Luz del Norte PV project has become the first utility-scale solar project in the world to supply automatic generation control (AGC) and other grid services to <a href="https://www.coordinador.cl/" target="_blank" rel="noopener noreferrer">Coordinador Eléctrico Nacional</a>, a Chile-based independent system operator (ISO).
Grid operators across the world depend on hydropower or thermal power projects to manage changes in load, though it cannot provide fully carbon-free energy. However, utility-scale solar projects can provide clean energy as well as carbon-free grid services.
The facility, located in Copiapó, Chile, is now being used by the ISO to manage the frequency of the country’s electricity system, helping ensure the grid’s reliability and stability, in addition to generating clean, renewable energy.
“This achievement increases the spectrum of technologies capable of providing the services needed to maintain a safe and reliable operation of the electric system,” said Carlos Barria, Head of the Forecast and Regulatory Analysis, and Environment and Climate Change at Ministry of Energy, Chile.
“These demonstrated capabilities are in line with our plans in integrating higher levels of renewable energy in our grid, which will enable us to achieve our goal to phase out coal-fired power plants by 2040 and to be carbon neutral by 2020,” Barria added.
Commissioned in 2016, Luz del Norte is one of the largest PV projects in Chile. The facility generates enough electricity to power 50,000 average Chilean homes.
Thermal-based sources can be used to generate power on demand. By combining a conventional source of energy with non-conventional sources, it would be possible to minimize or even negate the effects of intermittency in power generation. So far, one of the only ways to use renewable energy without intermittency issues is with energy storage solutions, which require a large amount of capital expenditure on batteries.
This is why, in India, the idea of round-the-clock renewable power bundled with thermal energy is <a href="https://mercomindia.com/another-deadline-extension-renewa" target="_blank" rel="noopener noreferrer">gaining</a> traction.

First Solar Offers First-of-its-kind Grid Balancing Services With a 141 MW Solar Project

Solarpack, a Spanish company that develops solar projects, has raised a total of $104 million (~Rs.6.7 billion) for nine PV projects in Chile and India. A group of Chilean banks funded three of the company’s Chilean distributed generation projects for $35 million (~Rs.2.25 billion). An Indian financial entity has financed six projects in India for $69 million (~Rs.4.43 billion). The total capacity of the projects is 135.5 MW.
The six Indian solar projects, located in the state of Telangana, will be operational between the second and third quarter of 2017 with a total capacity of 104 MW. The state electricity distribution companies Telangana State Northern Power Distribution Company (TSNPDCL) and Telangana State Southern Power Distribution Company (TSSPDCL) will purchase the electricity produced for a period of 25 years, through a long-term power-purchase agreement. This is Solarpack’s first contract in India. According to Mercom’s India Solar Project Tracker, the company won bids to develop the projects at a tariff of Rs.5.7249 (~$0.089)/kWh under Group-1 of the Telangana Solar Policy. A total capacity of 2,000 MW was auctioned under this group of projects.
Pablo Burgos, Solarpack’s CEO, commented, “Reaching financial close in such different geographical areas demonstrates once again the immense confidence that banks and international credit institutions have in Solarpack’s bankability, business model and management. This represents a new milestone for the company, which is pushing ahead with plans to expand its international presence and deepen its experience in the market it operates in.”
Mercom India has forecasted solar installations of approximately 10 GW for 2017 in its recently released <a href="http://bit.ly/MercomQ12017IndiaSolar" target="_blank" rel="noopener noreferrer">Q1 Quarterly Solar Update</a>.
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