Solar Module Manufacturer Saatvik Green Files for ₹11.5 Billion IPO

Daily News Wrap-Up: Hindustan Petroleum Tenders 105 MW of Solar Projects

Funding and M&A Roundup: Lyten Acquires Battery Manufacturing Assets from Cuberg

Project Finance Brief: S4 Energy to Acquire 310 MW BESS Portfolio in Germany

Masdar-led Consortium Selected to Develop 2 GW Solar Project in Saudi Arabia

North East Frontier Railway Floats Tenders for 5 MW Rooftop Solar Systems

AMPIN, CIP to Invest $300 Million for 2 GW Renewable Energy Projects

Hindustan Petroleum Floats EPC Tender for 105 MW of Solar Projects

Daily News Wrap-Up: Top Solar EPC Companies in 1H 2024

Railways Invites Bids for 3.4 MW Rooftop Solar Systems in Katihar Division

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2023/03/amazon_polly_50820.mp3?version=1678863391">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>Wind projects could shore up revenue and jobs for the economies of Argentina, Colombia, Egypt, Indonesia, and Morocco which have a combined potential of 3.5 GW, Global Wind Energy Council (<a href="https://gwec.net/" target="_blank" rel="noopener">GWEC</a>) said in a recent report.
These countries can generate additional revenues of  $12.5 billion and create 130,000 full-time equivalent work years over the next five years by tapping into the vast potential of wind energy.
However, these countries can achieve the full potential of wind capacity addition if they dismantle the barriers of policy frameworks, transmission infrastructure, and permitting programs. It would help them expedite their capacity addition and rake in higher benefits.
Argentina
Argentina has 3.3 GW of installed onshore wind capacity and is projected to install around 300 MW per year under normal circumstances from 2023 to 2027.
In an expedited scenario, Argentina could potentially install 31% more onshore wind energy capacity in the next five years.
This increase in wind energy capacity could lead to a 57% rise in full-time equivalent jobs, creating 64,000 new positions in the sector.
Additionally, it could contribute to a 45% increase in the country&#8217;s gross value, generating over $1 billion in additional economic activity.
To accelerate the shift towards wind energy, the report recommends several measures such as allowing revenue and profits from wind projects to be expatriated in dollars, incentivizing small and medium-sized decentralized projects through the RenovAr program, improving industry visibility by establishing an auction pipeline with a 3-4 year timeframe, and increasing coordination between grid development and future energy generation plans.
Colombia
Colombia has a mere 23 MW of installed onshore wind capacity, with GWEC projecting that it will install between 300-800 MW per year under a normal scenario from 2023 to 2027.
In an accelerated scenario, Colombia could install 44% more onshore wind energy capacity in the next five years. This increase in wind energy could lead to almost 150,000 new full-time equivalent jobs and a remarkable 77% increase in the country&#8217;s gross value, generating an extra $3 billion in economic activity.
To accelerate the shift towards wind energy, the report recommends improving industry visibility by establishing an auction pipeline with a 3-4 year timeframe, simplifying the permitting, environmental, and social licensing process, increasing government spending commitments directed at grid modernization and expansion, promoting a reliable operation and preventing bottlenecks, and continuing to strengthen dialogue between the government and renewable energy stakeholders.
Egypt
Egypt has 1,700 MW of installed onshore wind capacity, with GWEC forecasting that it will install between 250-700 MW per year under normal circumstances between 2023 to 2027.
In the expedited scenario, Egypt could potentially install 45% more onshore wind energy capacity in the next five years, representing an additional 1.15 GW, 164,000 full-time equivalent jobs, and potentially more than $2 billion for the economy.
To accelerate the transition towards wind energy, the report recommends that the government continue to increase or at least maintain the tariffs that support wind energy, accelerate the electrification of transport and industry, and increase interconnections between neighboring countries. Additionally, the report suggests allowing private offtake agreements for larger wind projects.
Indonesia
Indonesia has 150 MW of installed onshore wind capacity, with GWEC predicting an installation rate of around 75-100 MW per year under normal circumstances between 2023 to 2027.
However, under an accelerated transition scenario, Indonesia&#8217;s onshore wind energy capacity by 26% over the next five years, adding an extra 115 MW of green electricity and creating a sector that employs more than 50,000 people, an increase of 50%.
To accelerate the transition towards wind energy, the report recommends that the government commission a government-funded study to establish optimal locations for wind energy projects and ringfence those locations for wind development only.
It also suggests increasing government spending commitments directed towards grid modernization and expansion to promote a reliable operation and prevent bottlenecks. Finally, the report recommends promoting energy mix diversification and competitive procurement processes to ensure low-cost renewable energy supply meets decarbonization commitments.
Morocco
Morocco has 1,512 MW of installed onshore wind capacity and is expected to install about 200-510 MW per year under a business-as-usual scenario from 2023 to 2027.
However, under an accelerated transition scenario, Morocco could install 43% more onshore wind energy capacity in the next five years. This means the country could add an extra 638 MW of capacity, creating another 75,000 jobs and generating over $1 billion in additional economic activity.
To accelerate wind energy development in Morocco, some recommendations are to equalize grid costs for independent power producers and ONEE, allow wind and solar projects to share grid connection points, use Morocco&#8217;s green hydrogen targets to further incentivize wind energy production, and facilitate power purchase agreement matchmaking.
A previous report in early 2022 <a href="https://mercomindia.com/wind-can-pump-18-billion-gross-value/" target="_blank" rel="noopener">studied</a> the socioeconomic benefits for Brazil, India, Mexico, South Africa, and The Philippines. The study found that typically a 1 GW/year installation rate over five years could unlock $18 billion in gross value added to the national economies of these countries over wind farms&#8217; lifetime.
According to GWEC, onshore wind installations in India is <a href="https://mercomindia.com/onshore-wind-installations-in-india-forecasted/" target="_blank" rel="noopener">forecasted</a> at 4.1 GW in 2023.

Expedited Wind Projects to Help Developing Economies Generate Revenue and Jobs

Here are some noteworthy cleantech announcements of the day from around the world:
Tata Power <a href="https://www.tatapower.com/media/PressReleaseDetails/1940/tata-power-signs-mou-with-naredco-to-install-5000-ev-charging-points-across-maharashtra" target="_blank" rel="noopener">signed</a> a memorandum of understanding with the National Real Estate Development Council (NAREDCO), Maharashtra, to install up to 5,000 electric vehicle (EV) charging points across its member’s developer properties. Tata Power will provide a comprehensive EV charging solution across member developers of NAREDCO. This will include installation, maintenance, and up-gradation of the chargers as and when required. EV owners across NAREDCO&#8217;s member developers&#8217; properties will have access to 24&#215;7 vehicle charging, monitoring, and e-payments facilities through Tata Power’s EZ Charge mobile app. The chargers will be made available as public and semi-public charging stations based on the nature of the premises.
California set a new record by meeting 99.87% of electricity demand from clean, renewable energy on April 30, 2022, according to the California Independent System Operator (<a href="http://www.caiso.com/Pages/default.aspx" target="_blank" rel="noopener">ISO</a>). Momentarily, at 02:50 p.m. on April 30, the state’s energy demand was matched and met by renewable energy, a majority of it from solar. The California ISO is a non-profit public benefit corporation that provides comprehensive grid planning and open and non-discriminatory access to the networks of high-voltage transmission power lines.
<a href="https://www.columbusglobal.com/en/" target="_blank" rel="noopener">Columbus</a>, a global IT services and consulting company, and the <a href="https://indien.um.dk/en" target="_blank" rel="noopener">Danish Embassy</a> in India launched the “Digital Data Platform pilot for Efficient Management of Renewable Energy,” to be deployed at BSES Yamuna Power Limited (<a href="https://www.bsesdelhi.com/web/bypl/home" target="_blank" rel="noopener">BYPL</a>). The platform will facilitate BYPL in managing distributed energy resources in Delhi. The funding support was channelized through the Danish Embassy to optimize the storage and distribution of alternative energy sources. The digital solution brings together advanced cloud-based digital technologies to solve the real problems of the world. It will combine AI and Data Science techniques to predict the energy demand at consumption points like electric vehicle charging stations and energy generation capacity at solar rooftops, constantly assess the optimal energy storage requirements, and make informed decisions on when to discharge and consume energy from the power grid.
<a href="https://tirexchargers.com/" target="_blank" rel="noopener">Tirex Chargers</a>, an Ahmedabad-based EV charger equipment manufacturer, partnered with the Kerala State Electricity Board (<a href="https://www.kseb.in/index.php?lang=en" target="_blank" rel="noopener">KSEB</a>) to set up a chain of EV charging stations across the state. In partnership with KSEB, Tirex will set up 29 EV charging stations in Kerala, each equipped with multiple charging points with both AC and DC charging. Tirex won the contract for establishing the 29 EV charging stations. The startup is also exploring opportunities for setting up charging stations in other states. Of the 29 EV charging stations to be set up in Kerala, 12 stations have already been established. For the convenience of EV users, Tirex has also partnered with GOEC Autotech for an exclusive mobile app. The app will provide details of all 29 EV charging stations and the real-time availability of charging points.
The International Finance Corporation (IFC) <a href="https://pressroom.ifc.org/All/Pages/PressDetail.aspx?ID=26957" target="_blank" rel="noopener">announced</a> an investment of $10 million in the form of preferred equity in Vatia, a Colombian electricity retailer and aggregator, to help improve access to cleaner energy, contributing to the country&#8217;s climate commitments. IFC will also assist the company in obtaining financing of up to $36 million in long-term debt. IFC&#8217;s support would allow Vatia to acquire greenfield solar assets and strengthen its capital position, expanding and diversifying its generation capacity in Colombia. It is expected to help displace carbon-intensive and more expensive thermal generation, reducing around 55,000 tons of CO2 emissions annually. In addition, IFC&#8217;s investment will enable smaller businesses and commercial and industrial users to implement energy efficiency plans and additional savings.

Daily News Wrap-Up: Tata Power Partners with NAREDCO to Install 5,000 EV Charging Points

colombia

Get the most relevant India solar and clean energy news.

RECENT POSTS