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Varroc to Procure Power from AMPIN’s 27 MW Solar Project in Maharashtra

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Tata Power Records 20th Consecutive Quarter of Profit in Q2 FY 2025

SECI Floats Tender to Procure 1.2 GW Round-the-Clock Renewable Power

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


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					</table><p><a href="https://www.mercomindia.com/green-energy-trading-takes-hit-2023" target="_blank" rel="noopener"><strong>Renewable energy trading at the Indian Energy Exchange in 2023 so far has seen a considerable drop compared to 2022, with the traded energy reaching its lowest in October 2023 at 188 million units.</strong></a> Seasonality, floods, and inconsistent renewable energy generation are a few of the many reasons behind the drop in renewable energy trade. The increasing power demand and the drop in renewable generation have forced entities to trade mostly on the conventional electricity market, in turn reducing the buy bids in the green market segments.</p>
<p><a href="https://www.mercomindia.com/grid-modernization-key-sterlite-power-interview" target="_blank" rel="noopener"><strong>Integrating solar and wind power requires a resilient grid to ensure a consistent and reliable energy supply.</strong></a> As India targets 500 GW of renewables by 2030, a stable grid is needed to minimize disruptions and meet the increasing demand. In an exclusive interview with Mercom, Sterlite Power’s CEO of Infrastructure Business, Arun Sharma, shared his insights on his company’s role in power transmission infrastructure building in India, renewable energy integration, and grid stability.</p>
<p><a href="https://www.mercomindia.com/government-mandates-biogas-in-cng-and-png" target="_blank" rel="noopener"><strong>In a move to enhance the adoption of Compressed Biogas (CBG) and foster sustainable energy practices, the National Biofuels Coordination Committee, chaired by Union Petroleum Minister</strong></a> Hardeep Singh Puri, announced a phased mandatory blending of CBG in Compressed Natural Gas for the transport sector and Piped Natural Gas for domestic use. The CBG Blending Obligation marks a crucial step toward achieving broader national objectives, including promoting circular economy principles and reducing greenhouse gas emissions.</p>
<p><a href="https://www.mercomindia.com/eastern-railways-rooftop-solar-projects-in-kolkata" target="_blank" rel="noopener"><strong>Eastern Railways has invited bids to install grid-connected rooftop solar power projects of 2 MW capacity under the public-private partnership mode to supply power to the Sealdah division in</strong></a> Kolkata. The last date for the submission of bids is December 26, 2023. Bids will be opened the same day. The project will include 40 rooftop solar systems with 50 kW capacity spanning six locations within the Sealdah Division. The solar power generated by the project will be exclusively utilized by Eastern Railways.</p>
<p><a href="https://www.mercomindia.com/rajasthan-tariff-kusum-component-c" target="_blank" rel="noopener"><strong>Rajasthan Electricity Regulatory Commission has approved a ceiling tariff of ₹3.55 (~$0.043)/ kWh for solar power projects to be set up under Component C of the Pradhan Mantri Kisan Urja</strong></a> Suraksha evam Utthaan Mahabhiyan program for feeder-level polarization. The Commission directed distribution companies (DISCOMs) to apply the specified ceiling tariff in their upcoming bids. However, before each future bidding, DISCOMs should consistently assess market conditions.</p>
<p><a href="https://www.mercomindia.com/odisha-6-5-mw-rooftop-solar-projects" target="_blank" rel="noopener"><strong>Odisha Renewable Energy Development Agency has invited bids to install 6.462 MW of rooftop solar power projects on government buildings in Odisha under the Renewable Energy Service</strong></a> Company Model with a net metering or virtual net metering facility. The last day to submit the bids is December 22, 2023. Bids will be opened on December 28. The systems should be installed within six months of signing the tripartite agreement. The installers must oversee the projects’ operation and maintenance for 25 years.</p>
<p><a href="https://www.mercomindia.com/jobs-energy-sector-grow-2022" target="_blank" rel="noopener"><strong>The International Energy Agency’s recent World Energy Employment report found that investments in clean energy technologies drove demand for new workers in every region of the</strong></a> world. However, a shortage of skilled labor has emerged as a key barrier to ramping up activity. The report found that global energy employment rose to 67 million people in 2022, a 3.2 million increase from pre-pandemic levels.</p>
<p><a href="https://www.mercomindia.com/sembcorp-to-acquire-wind-assets-china-and-india" target="_blank" rel="noopener"><strong>Singapore-based renewable energy company Sembcorp Industries has signed agreements to acquire 428 MW of wind energy assets in China and India through its subsidiaries, Sembcorp Energy</strong></a> (Shanghai) Holding and Green Infra Wind Energy Limited. Sembcorp Energy (Shanghai) Holding is set to acquire 100% of the share capital in Qinzhou Yuanneng Wind Power. The move involves an equity consideration of approximately $130 million. Qinzhou Yuanneng owns and operates 200 MW of wind assets in Guangxi, China.</p>
<p><a href="https://www.mercomindia.com/germany-to-africas-green-energy-projects" target="_blank" rel="noopener"><strong>The government of Germany has pledged to invest €4 billion ($4.3 billion) in Africa’s green energy projects until 2030, encouraging African nations to generate green energy to be supplied within their</strong></a> countries and to the EU. The announcement was made by the German Chancellor Olaf Scholz, alongside African leaders and other heads of international organizations, including Akinwumi Adesina, the President of the African Development Bank Group, as a part of the G20 Compact with Africa, an initiative to improve the conditions for sustainable private sector and infrastructure investment in Africa.</p>


Daily News Wrap-Up: Green Energy Trading Plunges in 2023


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					</table><p>The <a href="https://www.bundesregierung.de/breg-en" target="_blank" rel="noopener">government of Germany</a> has pledged to invest €4 billion ($4.3 billion) in Africa’s green energy projects until 2030, encouraging African nations to generate green energy to be supplied within their countries and to the EU.</p>
<p>The announcement was made by the German Chancellor Olaf Scholz, alongside African leaders and other heads of international organizations, including Akinwumi Adesina, the President of the <a href="https://www.afdb.org/en" target="_blank" rel="noopener">African Development Bank Group</a>, as a part of the G20 Compact with Africa, an initiative to improve the conditions for sustainable private sector and infrastructure investment in Africa.</p>
<p>The African countries who have joined the initiative include Benin, Burkina Faso, Côte d’Ivoire, the Democratic Republic of Congo, Egypt, Ethiopia, Ghana, Guinea, Morocco, Rwanda, Senegal, Togo and Tunisia.</p>
<p>During the conference, Scholz said, “The starting signal for stronger, reliable cooperation between Africa and Europe to realize climate-friendly energy supply based on green hydrogen.”</p>
<p>Describing the African nations as ‘the partner of our choice,’ he emphasized that they should produce green hydrogen extensively and rely on EU nations as buyers.</p>
<p>He also said, “African countries should benefit more strongly from their wealth of natural resources, and explained that the first step of processing should take place locally, creating jobs and prosperity.”</p>
<p>According to Adesina, in order to attract investments in the region, private sector development strategies should be aligned with net-zero emission objectives and prioritized green investments.</p>
<p>Earlier this year, France-based fund manager Rgreen Invest and investment advisor Echosys Invest <a href="https://www.mercomindia.com/87-5-million-fund-solar-development-africa" target="_blank" rel="noopener">raised</a> €87.5 million (~$92.2 million) as a part of their Afrigreen Debt Impact Fund to finance on and off-grid solar power projects in Africa.</p>
<p>In February this year, a few West African countries <a href="https://www.mercomindia.com/west-africa-311-million-project-boost-renewables" target="_blank" rel="noopener">started</a> the $311 million Regional Emergency Solar Power Intervention Project to expand electricity access to millions of consumers in Chad, Liberia, Sierra Leone, and Togo. The program aims to accelerate renewable energy capacity connected to the grid and improve regional integration among the participating countries.</p>


Germany to Invest $4 Billion in Africa’s Green Energy Projects


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					</table><p><a href="https://www.mercomindia.com/sjvn-18-mw-solar-project-himachal-pradesh-ppa" target="_blank" rel="noopener"><strong>SJVN Green Energy signed a power purchase agreement (PPA) with the Bhakra Beas Management Board (BBMB) for 18 MW solar projects at a tariff of ₹2.63 (~$0.032)/kWh.</strong></a> The projects will be developed on four identified land parcels of BBMB in Himachal Pradesh and Punjab and are scheduled to be commissioned by August 2024. The projects will generate 39.42 MU of electricity in the first year of operation and 917 MU of cumulative energy generation over 25 years. Over the 25-year PPA period, the projects are expected to reduce 44,923 tons of carbon emissions.</p>
<p><a href="https://www.mercomindia.com/seci-disbursements-generators-see-19-6-yoy-rise" target="_blank" rel="noopener"><strong>The Solar Energy Corporation of India paid solar and wind power producers ₹11.45 billion (~$138 million) for the energy purchased in July 2023.</strong></a> The payment reflected a slight 0.23% decrease from the June disbursements. The payments, when compared to the corresponding period in the previous year, surged by 19.6% from ₹9.57 billion (~$115.5 million). In July, disbursements to solar and wind developers constituted approximately 79.61% of the total payments made by the nodal agency.</p>
<p><a href="https://www.mercomindia.com/gujarat-consultancy-tender-pumped-storage" target="_blank" rel="noopener"><strong>Gujarat Urja Vikas Nigam invited bids from consultants to help prepare tender documents and carry out the bidding process to procure energy storage capacity from pumped storage projects on a long-term basis.</strong></a> The last day to submit the bids is October 7, 2023. Bids will be opened on October 11. Bidders must submit a tender processing fee of ₹15,000 (~$181) and an earnest money deposit of ₹50,000 (~$603). The selected consultant must submit a security deposit of 10% of the total contract value within ten days of issuance of the work order.</p>
<p><a href="https://www.mercomindia.com/rajasthan-aims-to-energy-capacity-by-2030" target="_blank" rel="noopener"><strong>Rajasthan unveiled its draft for “Rajasthan Energy Policy 2050,” seeking to transition the state towards a sustainable and eco-friendly economy.</strong></a> One of the policy’s targets is to deploy a combined 90 GW of solar and wind capacity by 2030. This leap in renewable energy capacity is expected to generate employment opportunities for approximately 110,000 individuals, spanning various skill sets required for business development, project design, construction, commissioning, and maintenance. The state also plans to expand its rooftop solar capacity.</p>
<p><a href="https://www.mercomindia.com/g20-tripling-clean-energy-capacity-2030" target="_blank" rel="noopener"><strong>The recently concluded G20 Leaders’ Summit in Delhi called for a dedicated fund for the energy transition efforts of developing countries, phasing down unabated coal power and rationalizing inefficient fossil fuel subsidies.</strong></a> The declaration reaffirmed the commitment of G20 nations to take significant action in increasing sustainable finance. It stressed the vital role of financial support for green and sustainable projects. However, the declaration did not provide a specific roadmap for achieving the necessary $4 trillion annually for a green energy transition by 2030 to reach net zero by 2050.</p>
<p><strong><a href="https://www.mercomindia.com/oriana-epc-29-mw-solar-open-access-karnataka" target="_blank" rel="noopener">Oriana Power, a Noida-based renewable energy company, secured a ₹1 billion (~$12.08 million) contract for the turnkey engineering, procurement, and construction of a 29 MW captive open access solar project for a renowned steel manufacturer in Karnataka.</a> </strong>The project is expected to be commissioned in five months. Oriana Power will oversee all aspects of the project’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. 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.</p>
<p><a href="https://www.mercomindia.com/tata-power-425-million-solar-manufacturing" target="_blank" rel="noopener"><strong>The U.S. International Development Finance Corporation approved $425 million in financing for Tata Power Renewable Energy’s (TPREL) upcoming 4.3 GW greenfield solar cell and module manufacturing facility in Tamil Nadu.</strong></a> The facility, located in the Tirunelveli district, is expected to begin module production by the end of 2023 and cell production by the first quarter of the financial year 2024. TPREL will implement industry 4.0 standards for smart manufacturing in the facility, integrating advanced technologies to enable the production of high-wattage solar modules and cells with higher efficiencies.</p>
<p><a href="https://www.mercomindia.com/ministry-amends-safety-compliance-evs-pli-fame-ii" target="_blank" rel="noopener"><strong>The Ministry of Heavy Industries amended the testing parameters for enhancing the human safety of electric vehicles, incentivized under the production-linked incentive program for automobiles and auto components and the Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) II program.</strong></a> The new safety measures will be made mandatory from October 1, 2023, for claiming incentives under the PLI and FAME II programs. The rechargeable electric energy storage system with 100% state of charge will be tested for ingress protection IP X7 as per IEC 60529.</p>
<p><a href="https://www.mercomindia.com/zenobe-secures-fleet-and-battery-storage-expansion" target="_blank" rel="noopener"><strong>Zenobē, a global fleet electrification and battery storage solutions company, secured approximately £600 million (~$643.9 million) in funding from KKR, an international investment firm.</strong></a> The company also received an additional infusion of around £270 million (~$289 million) in equity, which has been contributed by Infracapital, an existing shareholder. Pending the fulfillment of standard closing requirements and regulatory authorizations, KKR and Infracapital are set to become co-majority stakeholders in Zenobē. Meanwhile, Jera and TEPCO Power Grid will continue to hold their positions as minority strategic investors.</p>
<p><a href="https://www.mercomindia.com/uk-cfd-clean-energy-fifth-round" target="_blank" rel="noopener"><strong>The United Kingdom announced the allocation of Contracts for Difference (CfDs) to 95 new renewable energy projects, securing a substantial 3.7 GW of clean energy capacity in its fifth allocation round.</strong></a> In the previous round, 93 projects received CfDs. These projects encompass renewable sources, including onshore wind, solar, and tidal energy developments. For the first time, geothermal projects harnessing natural underground heat sources have secured support through the CfD program. However, offshore and floating offshore wind do not feature in this year’s allocation, aligning with trends seen in countries like Germany and Spain.</p>
<p><a href="https://www.mercomindia.com/energy-major-repsol-wind-firm-connectgen-for-million" target="_blank" rel="noopener"><strong>Madrid-based energy and petrochemical company Repsol acquired ConnectGen, a U.S.-based renewable energy development company, for $768 million from Quantum Capital Group‘s global renewable energy development platform, 547 Energy.</strong></a> ConnectGen’s expertise primarily lies in U.S. onshore wind projects, and its development pipeline encompasses 20,000 MW of onshore wind, solar, and energy storage projects across various stages of maturity. The pipeline represents Repsol’s entry into the U.S. onshore wind industry.</p>


Daily News Wrap-Up: SJVN Bags 18 MW Solar Projects in Himachal Pradesh


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					</table><p>The recently concluded <a href="https://www.g20.org/en/" target="_blank" rel="noopener">G20</a> Leaders&#8217; Summit in Delhi called for a dedicated fund for the energy transition efforts of developing countries, phasing down unabated coal power and rationalizing inefficient fossil fuel subsidies.</p>
<p>The declaration reaffirmed the commitment of G20 nations to take significant action in increasing sustainable finance. It stressed the vital role of financial support for green and sustainable projects. However, the declaration did not provide a specific roadmap for achieving the necessary $4 trillion annually for a green energy transition by 2030 to reach net zero by 2050.</p>
<p>It called on parties to set an ambitious, transparent, and trackable New Collective Quantified Goal (NCQG) of climate finance in 2024, from a floor of $100 billion a year, taking into account the needs and priorities of developing countries in fulfilling the objective of the UNFCCC and implementation of the Paris Agreement.</p>
<p>The declaration recalled and reaffirmed the commitment made in 2010 by developed countries to mobilize jointly $100 billion in climate finance per year by 2020 and annually through 2025. Developed country contributors expect to meet this goal for the first time in 2023.</p>
<p>The declaration also acknowledged the substantial financial needs of developing countries, estimated at $5.8-$5.9 trillion before 2030, especially to support their emission reduction targets.</p>
<p>G20 leaders collectively agreed to an ambitious goal of tripling global renewable energy capacity by 2030.</p>
<p>They urged developed countries to fulfill their promise to at least double their collective provision of adaptation finance from 2019 levels by 2025. This aligns with the goals of the UNFCCC and the Paris Agreement.</p>
<p>The last Intergovernmental Panel on Climate Change report <a href="https://www.mercomindia.com/constant-climate-centric-funding-can-limit-global-temperature-under-1-5c" target="_blank" rel="noopener">highlighted</a> that the promised mobilization of $100 billion under the Paris Climate Accord had not materialized for the developing countries.</p>
<p>At the G20 Summit, a notable commitment came from Britain, which pledged $2 billion to the Green Climate Fund (GCF) to help developing countries cope with the impacts of climate change. Established under United Nations climate negotiations, the GCF is the world&#8217;s largest fund-channeling resource to help economically disadvantaged nations reduce carbon emissions, promote cleaner energy sources, and adapt to a warming world.</p>
<p>During the Summit, India played a central role in advocating climate change initiatives. India&#8217;s G20 declaration placed significant emphasis on climate change and clean energy. This included the launch of the Global Biofuel Alliance—a coalition aimed at advancing the world&#8217;s transition to net-zero energy systems, promoting the circular economy, enhancing energy security, and tripling global sustainable biofuel production by 2030.</p>
<p>According to the International Renewable Energy Agency, global investments in energy transition technologies <a href="https://cms.mercomindia.com/investments-renewables-2022-need-increase/" target="_blank" rel="noopener">achieved</a> a historic milestone by reaching a record high of $1.3 trillion in 2022, a 19% increase over 2021 and a 50% jump from the pre-pandemic levels of 2019.</p>


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