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					</table>Here are some noteworthy cleantech announcements of the day from around the world:
<a href="https://www.rayspowerinfra.com/" target="_blank" rel="noopener">Rays Power Infra</a> announced the commissioning of a 150 MW grid-connected solar power plant in Raichur and Koppal, Karnataka. This project is expected to reduce approximately 156,400 tons of CO2 and produce 240 GW of green energy annually. Rays Power Infra&#8217;s in-house EPC team has executed the project within the scheduled time frame. Rays Power Infra provided end-to-end services, from securing the land and connectivity, signing bilateral power purchase agreements with the C&amp;I consumers, designing the system, procuring construction components, to commissioning the project.
JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/85cb2766-4972-48e6-9731-d7f3671c99ab.pdf" target="_blank" rel="noopener">agreed</a> to acquire a portfolio of 1,753 MW of renewable energy generation capacity from Mytrah Energy (India) for ₹105.31 billion (~$1.33 billion). The acquisition comprises 17 special purpose vehicles (SPVs) and one ancillary SPV. The necessary definitive agreements have been signed between the parties, and the transaction is subject to receipt of the necessary regulatory and other customary approvals. Upon consummation of the transaction, the 18 subsidiaries of Mytrah Energy India would become subsidiaries of JSW Neo Energy and step-down subsidiaries of the company. The transaction is expected to be completed by November 15, 2022, subject to fulfillment of conditions precedent set out in the sales purchase agreement. Mercom had previously <a href="https://mercomindia.com/jsw-acquire-mytrah-for-2-billion/" target="_blank" rel="noopener">reported</a> on the deal when it was in its initial stages.
NLC India <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/e5b8726c-28f4-4be6-80cc-f74615ba6b77.pdf" target="_blank" rel="noopener">signed</a> a memorandum of understanding with Assam Power Distribution Company to form a joint venture company with equity participation of 51% by NLC India and 49% by Assam Power Distribution Company to develop 1000 MW of solar power project in Assam. The project aims to empower the citizens with the required energy while maintaining ecology with green energy sources. This initiative will develop Assam by providing employment opportunities, technical know-how, and the overall upliftment of the state.
Tata Power has <a href="https://www.tatapower.com/media/PressReleaseDetails/1967/tata-power-to-set-up-ev-charging-points-across-jp-infras-residential-projects-to-accelerate-sustainable-mobility-in-mumbai" target="_blank" rel="noopener">partnered</a> with JP Infra Mumbai, a Mumbai-based real estate developer, to install 60+ electric vehicle charging points across all JP Infra&#8217;s projects. The projects where the points will be installed are JP North Garden City (North Euphoria, North Alexa, North Aviva, Codename Dream Home), North Barcelona, and North Imperia. The installations aim to provide end-to-end EV charging solutions to residents to make sustainable mobility achievable.  Residents with electric vehicles would have access to a 24&#215;7 charging facility and can connect through the Tata Power EZ mobile application for all services, including remote vehicle charging monitoring and e-payments. The partnership will enable the residents to access a constant and universal EV charging experience.
Honda Power Pack Energy India (<a href="https://www.honda-mpp.com/in/" target="_blank" rel="noopener">HEID</a>), Honda Motor’s subsidiary for battery swap service, and Hindustan Petroleum Corporation (<a href="https://www.hindustanpetroleum.com/" target="_blank" rel="noopener">HPCL</a>) announced the operation of the Honda e: swap service, which HEID operates at the HPCL petrol stations. HEID and HPCL signed a memorandum of understanding and commercial agreement to collaborate in the field of E-mobility in February 2022 and have affirmed the mutual commitment to developing its swap station network. HEID has already set up its battery exchanger &#8211; Honda Power Pack Exchanger e: at strategic locations among HPCL’s retail outlets in Bengaluru and started its operation initially for electric auto rickshaws, which applies to Honda Mobile Power Pack e:.
Godawari Power and Ispat has <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/215dadf5-2613-4526-9ed8-e45a0bf37390.pdf" target="_blank" rel="noopener">announced</a> the commissioning of a 70 MW solar captive power plant at Rajnandgaon, Chhattisgarh. The power generated at the solar power plant would be consumed to meet the enhanced power requirement for an integrated steel plant to replace the high-cost power purchased from state DISCOM.
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Image Credit: Rays Power Infra

Daily News Wrap-Up: Rays Power Infra Commissions 150 MW Solar Project in Karnataka

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					</table>Here are some noteworthy cleantech announcements of the day from around the world:
The Karnataka Electricity Regulatory Commission (<a href="https://kerc.karnataka.gov.in/english" target="_blank" rel="noopener">KERC</a>) recently accepted the petition by Chowdeshwari Solar Energy for the delay in commissioning a 1 MW solar power project in Chikkaballapura District up to June 22, 2017. The commission also ruled that the petitioner was entitled to the tariff of ₹8.40 (~$0.11)/kWh as per the power purchase agreement. KERC also directed BESCOM to pay the difference in tariff paid per unit from the date of the plant’s commissioning along with the late payment surcharge in terms of the power purchase agreement within two months. BESCOM was also directed not to levy any liquidated charges during this period, and if already charged, they must be refunded.
Sony Group Corporation and Honda Motor <a href="https://global.honda/newsroom/news/2022/c220616eng.html?from=newsrelease_area" target="_blank" rel="noopener">signed</a> a joint venture agreement to establish a new company to engage in the sale of high-value-added electric vehicles (EVs) and provide services for mobility. The new company will aim to bring together Honda’s environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology, and after-sales service management experience with Sony’s expertise in the development and application of imaging, sensing, telecommunication, network, and entertainment technologies, to realize a new generation of mobility and services for mobility. Sony and Honda plan to establish the new company within 2022, sell EVs, and provide mobility services in 2025.
Photon Energy, a European solar energy developer, <a href="https://www.photonenergy.com/en/photon-energy-group/news/photon-energy-breaks-ground-on-first-of-32-mwp-solar-projects-in-romania-to-be-built-this-year.html" target="_blank" rel="noopener">announced</a> that it has broken ground on the construction of its very first Romanian solar photovoltaic power plant with a generation capacity of 5.7 MW. The project has high-efficiency bifacial solar modules mounted on single-axis trackers and is expected to deliver around 8.7 GWh of renewable energy annually to the grid of Enel E-Distributie Banat, which will be sold on the energy market on a merchant basis. This will be done without support or a power purchase agreement with an energy off-taker. The new power plant is scheduled to commence operations in the fourth quarter of 2023. The solar power plant is located near Șiria in Romania’s Arad County and will extend over 9.3 hectares of greenfield land and be equipped with approximately 10,600 solar panels. The power plant will be owned and operated by Siria Solar S.R.L., a special purpose company wholly owned by Photon Energy Group.
RWE and Commerzbank <a href="https://www.rwe.com/en/press/rwe-ag/2022-06-20-german-offshore-electricity-for-medium-sized-industrial-companies" target="_blank" rel="noopener">signed</a> a memorandum of understanding (MoU) to create a ‘Green Mittelstand Fund’ to provide medium-sized industrial companies in Germany access to green electricity generated by offshore wind plants. The new fund will offer these companies, for the first time, the opportunity to secure green electricity through long-term power purchase agreements. The wind farm is to have an installed capacity of around 1 GW. The companies would have to apply for a seabed for the wind farm within the framework of future tenders under the German Wind Energy at Sea Act&#8217;s planned amendment. These auctions are expected to take place in 2023. RWE plans to hold 51% of the shares in the wind farm, and the remaining 49% are to be offered to the interested medium-sized companies by Commerzbank via the ‘Green Mittelstand Fund.’ RWE will develop, build, and operate the wind farm. The company will commit to making the power generated there available to medium-sized companies. Commerzbank, on its part, plans to make green electricity directly available to its customers from medium-sized companies.
The International Renewable Energy Agency (IRENA) and the OPEC Fund for International Development (OPEC Fund) <a href="https://irena.org/newsroom/pressreleases/2022/Jun/IRENA-and-OPEC-Fund-Join-Forces-to-Unlock-Investment-in-Energy-Transition" target="_blank" rel="noopener">signed</a> a memorandum of understanding to ramp up efforts to advance renewable energy investment and enable access to sustainable finance in emerging and developing economies. They have agreed to mobilize finance, unlock investment, and support project development on the ground. At a practical level, both sides will collaborate to provide technical assistance and capacity building to project developers, creating a pipeline of bankable projects ready to be financed. They will also work to attract potential investors. The parties will also explore cooperation under the IRENA-managed Energy Transition Accelerator Financing Platform, the Climate Investment Platform, and OPEC Fund initiatives such as the planned Energy Access and Transition Trust Fund. They will also closely collaborate at U.N. Climate Conferences COP27 in Egypt in November 2022 and COP28 in the United Arab Emirates in November 2023.

Daily News Wrap-Up: Regulator Allows ₹8.40/kWh Tariff for a Delayed Solar Project

<a href="https://global.honda/?from=navi_header" target="_blank" rel="noopener">Honda Motors</a> has announced that it will invest approximately 5 trillion yen (~$39.84 billion) in electrification and software technologies to accelerate its business globally in the next ten years. The motor vehicle conglomerate plans to invest 8 trillion yen (~$63.74 billion) in research and development until 2030.
Honda will build a demonstration line to produce all-solid-state batteries in North America, allocating approximately 43 billion yen (~$342.65 million). Through this investment, Honda will launch two mid-to-large-scale electric vehicles (EV) models by 2024 — Prologue SUV and Acura brand, jointly being developed with General Motors (GM).
Starting this financial year, Honda has moved its core technology areas from its product-based organizations and combined under the newly formed Business Development Operations. These core areas include electrified products and services, energy, battery, mobile power pack, hydrogen, and software technologies.
Battery procurement strategy
Honda aims to stabilize the procurement of liquid lithium-ion batteries in each operating region by focussing on building external partnerships. It will procure Ultium batteries from GM in North America. In Japan, Honda will procure batteries for mini EVs from Envision AESC. In China, it will strengthen its collaboration with Contemporary Amperex Technology, a global lithium-ion battery manufacturer.
Honda will begin the adoption of its e-architecture in 2026, an EV platform to combine the software and hardware platforms.
The company is also set to device reliable connected frameworks in its EVs where users will be connected to the energy and information stored in every product.
Honda plans to launch 30 new EVs by 2030
In its partnership with GM, Honda intends to make EVs affordable by 2027, with a competitive price range to match the gasoline-powered vehicles, beginning with North America.
In Japan, the company is mulling the introduction of personal-use mini-EVs and EV Smart Utility Vehicles (SUV) by 2024. It also plans to launch a commercial-use mini-EV model in the 1-million-yen price range in the same year.
Honda also announced that it will introduce ten new EV models by 2027 in China. The motor giant plans to erect a dedicated EV plant in Guangzhou and Wuhan.
Overall, the motor conglomerate aims to launch 30 EV models worldwide by the end of the decade, with a production volume of over 2million units every year.
Honda issued green bonds worth $2.75 billion in March 2022 and intends to allocate the proceeds to develop and produce zero-emission vehicles.
The company will fund startups with high-potential advanced technologies and business models for 10 billion yen (~$79.70 million) each year.
In November 2021, Honda and construction engineering company Black &amp; Veatch successfully <a href="https://mercomindia.com/daily-news-wrap-up-ashok-leylands-electric-buses/" target="_blank" rel="noopener">tested</a> the prototype Honda Autonomous Work Vehicle (AWV) at a Black &amp; Veatch construction site in New Mexico.
According to a recent report by BloombergNEF (BNEF), the investments in electrified transport, including electric vehicles and associated infrastructure, were $273 billion in 2021. The investment in electrified transport <a href="https://mercomindia.com/global-investment-energy-transition-report/" target="_blank" rel="noopener">increased</a> by 77% due to the surge in sales of electric vehicles. The industry is expected to overtake renewable energy in dollar terms in 2022.

Honda to Invest $39 Billion With Focus on EVs, Batteries

Oriano Solar, a solar focused EPC firm, has raised Series A funding of Rs.200 million ($3 million) from Samridhi Fund, which is managed by SIDBI Venture Capital Ltd. The investment is a mix of equity and debt.
“The company will use the investment to add teams in project management and business development, to meet working capital needs and to establish offices across India” Yeshwant Rao co-founder and MD of Oriano Solar, told Mercom Capital.
Oriano was founded by Sachin Jain, Yeshwant Rao and Sameer V. Shah in June 2015. Oriano Solar specializes in Solar EPC (Turnkey and BoS) for Utility Scale Solar Projects, Solar farms, and Rooftops. Oriano has executed 85+ MW of solar projects (including turnkey EPC for 23 MW single location utility-scale PV project in Pavagada, Karnataka). Additionally, Oriano has executed 10+ MW of Rooftops for leading MNCs and India’s Top 100 companies across 7 states. Oriano has a current EPC pipeline of 100+ MW Utility-Scale and 20+ MW of Rooftops.
Oriano was awarded “Energy Startup of the Year” at the Entrepreneur India 2016 Awards in media association with ET NOW. Oriano was also selected as the “TECH30 company of the year” at TechSparks 2016 by YourStory.
“In the last one year, Oriano Solar has grown almost 10 times from less than Rs.50 million (~$0.77 million) revenue to over Rs.500 million (~$7.7 million) revenue in FY17. We have completed more than 35 projects across seven states in India,” said Sameer Shah, Co-founder &amp; Chairman of Oriano Solar.
Oriano Solar’s clients include Amway, Honda, Atria Power, SunEdison, Cipla, HPCL, HAL and Tata Communications.
“Oriano’s targets revenue of Rs.2 billion (~$31 million) in FY2017-18.” Said Yeshwant Rao, Co-founder &amp; MD.
“We aim to contribute towards Prime Minister Modi ji’s renewable energy mission and partner with more industries to help them adopt solar and reduce their carbon emissions,” said Sameer Shah, Chairman of Oriano Solar.
The Samridhi Fund is an approx. Rs.4.3 billion (~$66 million) social venture capital fund set up with contributions from Department for International Development (DFID), Small Industries Development Bank of India (SIDBI), Life Insurance Corporation of India (LIC) and United India Insurance Company Limited (UIIC). Samridhi Fund has focus on Financial Inclusion, Affordable Healthcare, Agri &amp; allied activities, Water &amp; sanitation, Clean Energy, Skill Building and Livelihood building.

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