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					</table><p><a href="https://www.mercomindia.com/pfc-bids-evacuate-1-5-gw-renewable-power-maharashtra" target="_blank" rel="noopener"><strong>PFC Consulting invited bids to develop an interstate transmission system to evacuate 1,500 MW of power from renewable energy projects in Maharashtra’s Solapur special economic zone.</strong></a> The project will be developed on a build, own, operate, and transfer basis. The last date to submit the bid online is August 28, 2023. Bids will be opened on the same day. Within ten days from the date of the issuance of the letter of intent, the selected bidder, on behalf of the transmission service provider, must furnish a contract performance guarantee of ₹150 million (~$1.83 million).</p>
<p><a href="https://www.mercomindia.com/electricity-rules-remove-transmission-license-mandate" target="_blank" rel="noopener"><strong>The Ministry of Power issued the Draft Electricity (Amendment) Rules, 2023, to introduce changes to the requirement of transmission licenses for captive and bulk power consumers and capping the additional surcharge for open access consumers at 50% of the wheeling charges.</strong></a> The amendments are expected to enhance the efficiency and transparency of the electricity sector. The draft proposal will be open for stakeholder comments till July 28, 2023.</p>
<p><a href="https://www.mercomindia.com/tcil-empanelment-150-ev-charging-stations" target="_blank" rel="noopener"><strong>Telecommunications Consultants India invited bids for the empanelment of charging point operators to commission electric vehicle charging stations at various locations in the national capital region on a revenue-sharing model.</strong></a> The select operator should oversee the charging stations’ operation and maintenance for one year. The work has been divided into two lots consisting of 50 and 100 charging stations, respectively. The last date to submit the bids is July 18, 2023. The bids will be opened the next day.</p>
<p><a href="https://www.mercomindia.com/world-bank-loan-india-transition" target="_blank" rel="noopener"><strong>The World Bank Group’s Board of Executive Directors approved $1.5 billion in financing to accelerate the development of low-carbon energy in India by scaling-up green hydrogen projects and promoting climate finance for clean energy investments.</strong></a> The funding operation titled First Low-Carbon Energy Programmatic Development Policy Operation is the first in the series of investments by the World Bank to support India’s energy transition through 2070.</p>
<p><a href="https://www.mercomindia.com/energix-renewables-six-solar-projects-in-the-us" target="_blank" rel="noopener"><strong>Energix Renewables, a U.S.-headquartered independent power producer, closed two project financing transactions totaling $520 million with Santander Corporate &amp; Investment Banking (Santander CIB) and Morgan Stanley Renewables to develop six utility-scale solar projects in the U.S.</strong></a> The financing deals involve a consortium led by Santander CIB, providing a construction and term loan facility of $260 million, while Morgan Stanley acts as a tax equity investor with a commitment of $260 million.</p>
<p><a href="https://www.mercomindia.com/lack-reliable-financing-affects-cost-of-capital-renewables" target="_blank" rel="noopener"><strong>The International Renewable Energy Agency, in a recent report, revealed a method used to calculate the cost of capital for clean technologies to help understand the drivers of renewable costs.</strong></a> The cost of capital is the minimum rate of return or profit a company must earn before generating value. It is a significant determinant of the total price to purchasers of electricity from renewable power generation technologies. The report notes that if assumptions used for the cost of capital are not accurate – over time, between countries or technologies – then the cost of electricity might be significantly misrepresented and result in poor policy making.</p>


Daily News Wrap-Up: PFC’s Tender to Evacuate 1.5 GW of Renewable Power


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					</table><p><a href="https://www.energixrenewables.com/" target="_blank" rel="noopener">Energix Renewables</a>, a U.S.-headquartered independent power producer, has closed two project financing transactions totaling $520 million with Santander Corporate &amp; Investment Banking (<a href="https://www.santandercib.com/" target="_blank" rel="noopener">Santander CIB</a>) and <a href="https://www.morganstanley.com/articles/decarbonization-renewable-energy-investment-ideas" target="_blank" rel="noopener">Morgan Stanley Renewables</a> to develop six utility-scale solar projects in the U.S.</p>
<p>The financing deals involve a consortium led by Santander CIB, providing a construction and term loan facility of $260 million, while Morgan Stanley acts as a tax equity investor with a commitment of $260 million.</p>
<p>The funds raised through these transactions will be used to develop six utility-scale solar projects in Virginia and Pennsylvania.</p>
<p>The projects cumulatively are expected to generate a combined capacity of 416 MW (DC), providing domestically produced power to local grids.</p>
<p>The company said the significant boost to the local economies would not only increase tax revenues but also create hundreds of well-paying construction jobs.</p>
<p>One project within the portfolio is the Adams Solar project, which is projected to meet 22% of the City of Philadelphia&#8217;s municipal electricity demand.</p>
<p>With the investment, Energix is projected to have 640 MW (DC) of operational projects by the end of 2023. The company said the expansion would contribute to the company&#8217;s investment in American energy infrastructure, approaching a total of $1 billion, and also strengthen the solar workforce in the Mid-Atlantic and promote sustainable energy solutions across the region.</p>
<p>&#8220;Energix is delighted to further strengthen its longstanding partnership with Morgan Stanley. This continued collaboration reinforces Energix&#8217;s position as a leading independent power producer in the US market,&#8221; stated Asa (Asi) Levinger, CEO of Energix.</p>
<p>The recent transaction marks the third tax equity deal between Energix and Morgan Stanley.</p>
<p>The company has established a new partnership with Santander CIB, expanding its collaboration to the U.S. The alliance aims to leverage Santander&#8217;s extensive network and resources, allowing Energix to expand its footprint.</p>
<p>&#8220;Santander Corporate &amp; Investment Banking is proud to continue supporting Energix in the development of their global renewable pipeline by expanding our existing relationship to the U.S., allowing the company to continue delivering high-quality utility-scale projects,&#8221; said Nuno Andrade, Head of Structured &amp; Acquisition Finance in the U.S.</p>
<p>Energix Renewables has said it would exclusively use modules from U.S.-based solar module manufacturer <a href="https://www.firstsolar.com/en-IN/" target="_blank" rel="noopener">First Solar</a> to ensure the use of domestically produced materials.</p>
<p>According to Mercom’s <a href="https://mercomcapital.com/product/q1-2023-solar-funding-ma-report/" target="_blank" rel="noopener">Q1 2023 Solar Funding and M&amp;A Report</a>, total corporate funding for solar companies, including from venture capital, public market, and debt financing, amounted to $8.4 billion in 42 deals in the first quarter of 2023, up 11% year-over-year compared to $7.5 billion raised in 49 deals.</p>


Energix Renewables Secures $520 Million for Six Solar Projects in the US

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