CMPDI Invites Bids for 10 MW Solar Project at Mahanadi Coalfields

RERC Upholds Penalty for Failure to Comply with Renewable Energy Regulations

Hyundai to Source 118 MW Power from Fourth Partner’s Solar and Wind Projects

India Adds an Unprecedented 16 GW Solar Capacity in 9M 2024

Daily News Wrap-Up: UPNEDA Tenders 2 MW Rooftop Solar Projects

Maxeon Solar Modules Detained by US Customs Authority

Sungrow, TBEA, FIMER Dominate Solar Inverter Rankings in First Half of 2024

ReNew’s Revenue, Profit Up in Q2 FY25 as Commissioned Renewable Capacity Grows

MNRE Sets Terms for Real Estate Developers to Avail CFA Under PM Surya Ghar

ENGIE to Build 22 MW Solar Project for Saudi Cement Factory


					<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="https://cms.mercomindia.com/wp-content/uploads/2023/12/amazon_polly_61235.mp3?version=1702442738">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-solar-subscriptions-firm-sunsave/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Sunsave, a UK-based solar subscription service provider, has </strong><a href="https://mercomcapital.com/solar-subscription-service-firm-sunsave-raises/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> £5.4 million (~$6.79 million) in funding to </strong>support the launch of Sunsave Plus, a service that will allow homeowners to get a solar and battery system on a subscription without paying a one-off lump sum. The funding round was led by Norrsken, a European-based impact venture capital fund.</p>
<p><strong>Sienna Bidco, wholly owned by funds advised by KKR, has agreed to </strong><a href="https://mercomcapital.com/kkrs-sienna-bidco-acquire-smart-metering-systems/" target="_blank" rel="noopener"><strong>acquire</strong></a><strong> UK-based Smart Metering Systems (SMS)</strong>, a smart energy infrastructure and services provider, in a deal that values the company at £1.3 billion (~$1.63 billion). The deal will see KKR take SMS private and delist it from the London Stock Exchange, where it has been trading since 2011. KKR will pay £0.955 (~$1.21) per share in cash, a 40.4% premium to SMS’s closing price on Wednesday.</p>
<p><strong>UP Catalyst, a producer of sustainable carbon nanomaterials and graphite, </strong><a href="https://mercomcapital.com/up-catalyst-secures-4-3-million-in-seed-funding/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> a €4 million (~$4.31 million) seed investment</strong> round led by Berlin-based climate tech VC fund Extantia and supported by Estonia’s state fund SmartCap, along with existing investors Sunly, Little Green Fund, Scottish Baltic Invest, and UniTartu Ventures. The investment will be used to expand the company’s production capabilities.</p>
<p><strong>Graphite India, a graphite electrode manufacturer, has </strong><a href="https://www.mercomindia.com/graphite-india-forays-battery-investment-in-godi" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into a definitive transaction to invest ₹500 million (~$6 million)</strong> in compulsory convertible preference shares of GODI India, a battery technology company. GODI India, backed by Blue Ashva Capital, specializes in advanced chemistry research and development to support the manufacturing of sustainable batteries for electric vehicles (EVs) and supercapacitor-based energy storage systems.</p>
<p><strong>Uniqus Consultech has </strong><a href="https://www.mercomindia.com/uniqus-acquires-its-esg-practice" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> Goodera’s global business that helps corporates manage their sustainability programs</strong> by automating the collection, maintenance, and approval of their ESG data. Uniqus, based in the U.S., India, and the Middle East, is a tech-enabled platform offering ESG accounting and reporting consulting. The acquisition, part of Uniqus’ strategy to integrate technology to address client needs, will strengthen its ESG practice and serve the $10 billion ESG market.</p>
<p><strong>ACEN Renewables, a subsidiary of ACEN CORPORATION based in Singapore, </strong><a href="https://www.acenrenewables.com/2023/12/acen-acri-secures-first-100-million-dollars-green-term-loan-facility-mufg/" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a $100 million green term loan facility from MUFG Bank</strong>, part of global financial institution Mitsubishi UFJ Financial Group (MUFG). This investment will be directed toward the growth and development of ACEN’s renewable energy projects. MUFG acted as the sole arranger and green loan coordinator for this term loan, which operates under a five-year term.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://mercomindia.com/funding-and-ma-roundup-energyre-raises-1-2-billion" target="_blank" rel="noopener">roundup</a></p>


Funding and M&A Roundup: Solar Subscriptions Firm Sunsave Raises $6.8 Million


					<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="https://cms.mercomindia.com/wp-content/uploads/2023/12/amazon_polly_61071.mp3?version=1701924230">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><strong><a href="https://www.mercomindia.com/ntpc-tenders-land-and-ehv-mw-solar-projects" target="_blank" rel="noopener">NTPC Renewable Energy has invited bids for land and an extra high voltage transmission system package to develop interstate transmission system-connected solar power projects of up to 800 MW</a></strong> capacity in Maharashtra. The last date for the submission of bids is January 16, 2023. Bids will be opened the same day. The land-related tasks for the proposed solar power project in Maharashtra’s Solapur region involve securing five acres/MW of leasehold or freehold land. Access roads to the project boundary and potential interconnections between plots must be established independently or with state machinery.</p>
<p><strong><a href="https://www.mercomindia.com/bpcl-tender-100-mw-wind-madhya-pradesh-maharashtra" target="_blank" rel="noopener">Bharat Petroleum Corporation has issued a request for proposal to set up 100 MW (±5%) wind power projects in Madhya Pradesh and Maharashtra on a lumpsum turnkey basis.</a> </strong>The scope of work includes setting up 25 MW (±5%) wind projects across two lots each in Madhya Pradesh and Maharashtra. Each lot must have a cumulative capacity of 25 MW (±5%), with a maximum of two sites having 10 (±5%) MW at any one site.</p>
<p><strong><a href="https://www.mercomindia.com/recpdcl-invites-bids-projects-with-greenshoe-option" target="_blank" rel="noopener">REC Power Development and Consultancy has floated a tender to set up 250 MW Inter-State Transmission System-connected solar power projects anywhere in India</a></strong> with an additional greenshoe option of 250 MW. The last date for the submission of bids is December 29, 2023. Bids will be opened on January 2, 2024. The projects will developed under the program for flexibility in generating and scheduling thermal or hydropower stations through bundling with renewable energy and storage.</p>
<p><strong><a href="https://www.mercomindia.com/goa-bids-2-25-mw-solar-mormugao-port" target="_blank" rel="noopener">Goa Energy Development Agency has invited bids to develop a 2.25 MW ground-mounted solar power project</a> </strong>with virtual net metering on a turnkey basis at Mormugao Port under the capital expenditure model. The last date to submit the bids is December 26, 2023. Bids will be opened on December 29.</p>
<p><strong><a href="https://www.mercomindia.com/ev-manufacturers-%e2%82%b952-billion-subsidies-december-1-2023" target="_blank" rel="noopener">Subsidies worth ₹52.28 billion (~$627 million) have been disbursed to electric vehicle (EV) manufacturers on the sale of ~1.15 million EVs, as of December 2023</a></strong>, in a bid to improve faster adoption of EVs in India, Ministry of Heavy Industries informed the Lok Sabha. The subsidies are under the Faster Adoption and Manufacturing of Electric Vehicles in India Phase II program that came into force in April 2019 to support the electrification of public and shared transportation.</p>
<p><a href="https://www.mercomindia.com/graphite-india-forays-battery-investment-in-godi" target="_blank" rel="noopener"><strong>Graphite India, a graphite electrode manufacturer, has entered into a definitive transaction to invest ₹500 million (~$6 million) in compulsory convertible preference shares of GODI India</strong>,</a> a battery technology company. GODI India, backed by Blue Ashva Capital, specializes in advanced chemistry research and development to support the manufacturing of sustainable batteries for electric vehicles (EVs) and supercapacitor-based energy storage systems.</p>
<p><a href="https://www.mercomindia.com/at-139-kwh-lithium-prices-hit-all-time-low" target="_blank" rel="noopener"><strong>Prices of lithium-ion battery packs have dropped by 14% to a record low of $139/kWh this year due to falling raw material and component prices</strong>,</a> research firm BloombergNEF has found. The prices have dropped even as production capacity increased across all parts of the battery value chain. Battery pack prices saw an unprecedented rise to $151/kWh in 2022.</p>
<p><strong><a href="https://www.mercomindia.com/levies-approval-delays-hinder-energy-transition-corporates-interview" target="_blank" rel="noopener">In an exclusive interview with Mercom India, Sharad Pungalia, MD &amp; CEO of Amplus Solar,</a></strong>discusses the company’s approach to servicing its diversified portfolio of commercial and industrial (C&amp;I) consumers transitioning to clean energy sources. He explains how the company has switched to wind-solar hybrid with storage projects to address the limitations of the new energy banking policies introduced by various states.</p>


Daily News Wrap-Up: NTPC’s Land & Transmission Tender for 800 MW Solar Projects


					<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="https://cms.mercomindia.com/wp-content/uploads/2023/12/amazon_polly_61059.mp3?version=1701869602">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Graphite India (<a href="https://www.graphiteindia.com/" target="_blank" rel="noopener">GIL</a>), a graphite electrode manufacturer, has entered into a definitive transaction to invest ₹500 million (~$6 million) in compulsory convertible preference shares of <a href="https://www.godienergy.com/" target="_blank" rel="noopener">GODI India</a>, a battery technology company.</p>
<p>GODI India, backed by <a href="https://www.blueashvacapital.com/" target="_blank" rel="noopener">Blue Ashva Capital</a>, specializes in advanced chemistry research and development to support the manufacturing of sustainable batteries for electric vehicles (EVs) and supercapacitor-based energy storage systems.</p>
<p>The investment would provide Graphite India with a 31% equity shareholding in GODI on a fully diluted basis.</p>
<p>With a focus on high-power density lithium-ion batteries, GODI claims to have expertise in emerging technologies like sodium-ion and solid-state batteries.</p>
<p>The company’s technology portfolio includes environmentally friendly and carbon-neutral processes.</p>
<p>The global surge in EV sales and the growing demand for energy storage systems underscore the attractive industry dynamics for battery cell and supercapacitor production.</p>
<p>Ashutosh Dixit, Executive Director of Graphite India, said, “This move is part of Graphite India’s strategy to diversify into advanced battery and energy storage systems technologies. GODI India&#8217;s leadership in developing various battery technologies aligns with our commitment to technological innovation and growth, marking a significant step towards creating a diversified business portfolio.”</p>
<p>Founder and Director of GODI India Mahesh Godi, said, “Our battery materials and components, developed through environmentally friendly processes, cater to the dynamic electric vehicle and consumer electronics markets.”</p>
<p>“Additionally, our supercapacitors find applications in regenerative energy storage systems across various industries. We welcome this strategic partnership with Graphite India for their expertise in carbon and electrode manufacturing and their perspectives on synergistic technologies,” Godi added.</p>
<p>Graphite India has a production capacity of 98,000 MT per annum across three facilities in India and Germany. The company is expanding its presence in value-added graphite products for diverse industries such as automotive, aerospace, chemical, pharmaceutical, metallurgical, and machine tools.</p>
<p>With a total renewable energy capacity of 18 MW, Graphite India aims to increase it to 37 MW by March 2024.</p>
<p>The government of India recently <a href="https://www.mercomindia.com/government-cost-for-critical-mineral-exploration" target="_blank" rel="noopener">announced</a> a 25% incentive on the approved project cost for exploration agencies to encourage private parties&#8217; mining of critical minerals. India has also identified 30 critical minerals, including graphite, lithium, and cobalt, which can be converted into material used in clean energy technologies.</p>
<p>Recently, China’s Ministry of Commerce <a href="https://www.mercomindia.com/china-curbs-export-graphite-ev-batteries" target="_blank" rel="noopener">announced</a> ‘temporary’ export control of sensitive graphite products, including highly sensitive spheroidized graphite, primarily used in EV batteries. The move, it said, was to ensure the stability and security of the global supply chain and safeguard national interests.</p>


Graphite India Forays into Battery Tech with ₹500 Million Investment in GODI

graphite-india

Get the most relevant India solar and clean energy news.

RECENT POSTS