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					</table><p><a href="https://www.mercomindia.com/sjvn-bags-%E2%82%B970-billion-contract-1-2-gw-solar-projects" target="_blank" rel="noopener"><strong>SJVN Green Energy, a wholly owned subsidiary of SJVN, has received a letter of intent from the Punjab State Power Corporation (PSPCL) for the development of 1,200 MW of solar power projects.</strong></a> The company will develop 1,000 MW of solar projects anywhere in the country, and the balance of 200 MW will be developed in Punjab. PSPCL will procure 1,000 MW of solar power from projects anywhere in the country at a tariff of ₹2.53 (~$0.031)/kWh and the balance of 200 MW from projects in Punjab at a tariff of ₹2.75 (~$0.034)/kWh.</p>
<p><a href="https://www.mercomindia.com/8738-public-ev-charging-stations-june-minister" target="_blank" rel="noopener"><strong>As India strives towards decarbonizing the transport sector, the country has installed 8,738 operational public electric vehicle charging stations, as of June 30, 2023</strong></a>, according to the Bureau of Energy Efficiency and the Ministry of Power data. The information was shared by the Minister of State for Heavy Industries, Krishan Pal Gurjar, in a written response to a question in the Rajya Sabha. The increasing demand for electric vehicles has led to the faster deployment of necessary charging infrastructure.</p>
<p><a href="https://www.mercomindia.com/nashik-tender-install-20-ev-charging-stations" target="_blank" rel="noopener"><strong>Nashik Municipal Corporation has invited bids for the supply, erection, installation, and commissioning of 20 electric vehicle charging stations at various locations under its jurisdiction.</strong></a> The successful bidder will also be responsible for the charging station’s operation and maintenance for three years from the contract’s signing date. A total of 20 four-wheeler dual gun CCS2 (60 kW) DC plus 100 two/three-wheeler (3.3 kW) AC chargers are to be installed under the tender.</p>
<p><a href="https://www.mercomindia.com/germanys-q2-solar-installations-surge-94-yoy" target="_blank" rel="noopener"><strong>Germany installed 3.3 GW of solar capacity in the second quarter (Q2) of 2023, a substantial growth of 94% year-over-year from 1.7 GW added in the same period last year</strong></a>, as the country spearheads the renewable transition in Europe. On a quarter-on-quarter basis, installations increased 10% from 3 GW. The data was unveiled in a recent report by the German Federal Network Agency Bundesnetzagentur.</p>
<p><a href="https://www.mercomindia.com/farizon-auto-600-million-series-a-funding" target="_blank" rel="noopener"><strong>Farizon Auto, the new energy commercial vehicle manufacturer established by Geely Holding Group, has raised $600 million in its Series-A funding round led by Boyu Capital and Yuexiu Industrial Fund</strong>.</a> The influx of capital is expected to fuel Farizon’s endeavors in further research and development, ecosystem development, and global expansion. The new energy vehicles include battery-electric, plug-in hybrid, and fuel-cell electric vehicles.</p>
<p><a href="https://www.mercomindia.com/us-first-offshore-wind-lease-gulf-of-mexico" target="_blank" rel="noopener"><strong>The U.S. Department of the Interior is set to conduct the first-ever offshore wind energy lease sale in the Gulf of Mexico</strong></a>. The move aims to accelerate the deployment of 30 GW of offshore wind energy by 2030, paving the way for a carbon-free electricity sector by 2035. The upcoming lease auction, scheduled for August 29, 2023, will offer three key lease areas with significant potential.</p>
<p><a href="https://cms.mercomindia.com/equinor-to-acquire-brazil-2-gw-renewables-portfolio/" target="_blank" rel="noopener"><strong>Denham Capital, a global energy transition investment firm, announced the signing of an agreement with Equinor, a Norway-based energy company, for the sale of Rio Energy’s select assets</strong></a>, the Rio Energy trade name, and the management team platform. Rio Energy is a Brazil-based developer, owner, and operator of renewable energy projects. The acquired assets include the 0.2 GW Serra da Babilônia 1 producing onshore wind farm located in the northeastern state of Bahia, a 0.6 GW pre-construction solar PV portfolio, and a project pipeline of approximately 1.2 GW.</p>
<p><a href="https://www.mercomindia.com/researchers-at-fraunhofer-ise-organic-solar-cells" target="_blank" rel="noopener"><strong>Researchers at the Fraunhofer Institute for Solar Energy Systems ISE (Fraunhofer ISE) and the Materials Research Center FMF at the University of Freiburg have announced efficiency improvement</strong></a> for an organic solar cell with a one-square-centimeter area, boasting a record efficiency of 15.8% which has surpassed their previous record set in September 2020, of 14.9%. Organic photovoltaics have various solar energy applications due to their eco-friendly and cost-effective production, as well as their versatility with flexible and potentially transparent solar cells.</p>


Daily News Wrap-Up: SJVN Bags Contract to Develop 1.2 GW of Solar Projects


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					</table><p><a href="https://www.denhamcapital.com/" target="_blank" rel="noopener">Denham Capital</a>, a global energy transition investment firm, announced the signing of an agreement with <a href="https://www.equinor.com/" target="_blank" rel="noopener">Equinor</a>, a Norway-based energy company, for the sale of <a href="https://rioenergy.com.br/" target="_blank" rel="noopener">Rio Energy</a>’s select assets, the Rio Energy trade name, and the management team platform.</p>
<p>Rio Energy is a Brazil-based developer, owner, and operator of renewable energy projects.</p>
<p>The acquired assets include the 0.2 GW Serra da Babilônia 1 producing onshore wind farm located in the northeastern state of Bahia, a 0.6 GW pre-construction solar PV portfolio, and a project pipeline of approximately 1.2 GW.</p>
<p>The agreement between Denham Capital and Equinor will result in an Equinor subsidiary fully owning Rio Energy companies that operate under the Rio Energy trade name.</p>
<p>With the support of Denham Sustainable Infrastructure&#8217;s investment and support, Rio Energy has transformed into a national renewable energy platform in Brazil, boasting a substantial portfolio of operational and under-construction onshore wind projects, as well as a promising pipeline of onshore wind and solar projects.</p>
<p>Despite the asset sale, Denham Capital will still retain 1.1 GW of Rio Energy&#8217;s assets, which include three operational onshore wind projects: the 0.1 GW Caetité project, the 0.2 GW Itarema project, and the 0.2 GW Serra da Babilônia 3 project.</p>
<p>Additionally, they will keep the 0.2 GW in construction Caetité Norte onshore wind project and around 0.4 GW of onshore wind and solar pipeline projects. To ensure continued success, Denham Capital will establish a new management team specifically dedicated to these projects.</p>
<p>The transaction is still subject to typical regulatory and lender approvals, ensuring all necessary checks and balances are in place before finalizing the deal.</p>
<p>Sarah Lane, Managing Director of Denham Sustainable Infrastructure, emphasized Denham&#8217;s value-add strategy, which supports industry-leading teams committed to delivering low-cost, sustainable power generation, particularly in high-growth economies like Brazil.</p>
<p>Marcos Meireles, CEO and co-founder of Rio Energy, expressed his belief that now is the right time to move forward with Equinor to further their commitment to a more sustainable future for Brazil.</p>
<p>According to recent data released by Brazil’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 the country between January and June.</p>
<p>In October 2022, the French energy conglomerate TotalEnergies and Casa dos Ventos <a href="https://www.mercomindia.com/totalenergies-brazils-cdv-develop-12-gw-renewable-projects" target="_blank" rel="noopener">announced</a> the creation of a joint venture to develop, build, and operate 12 GW of renewable energy projects in the country.</p>


Equinor to Acquire Brazil-based Rio Energy’s 2 GW Renewables Portfolio

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