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					</table><p><a href="https://www.mercomindia.com/jodhpur-tenders-1-5-gw-solar-projects-kusum/" target="_blank" rel="noopener"><strong>Jodhpur Vidyut Vitran Nigam floated eight tenders for installing and commissioning 562 grid-connected solar power projects with a total capacity of 1.515 GW in various subdivisions of Jodhpur District Circle under Component C of Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan program for feeder-level solarization.</strong></a>The projects will be developed under the renewable energy service company model.The selected developers must oversee the projects’ operation and maintenance for 25 years. The estimated project cost is ₹35 million (~$420,371)/MW.</p>
<p><a href="https://www.mercomindia.com/andhra-pradesh-green-energy-open-access-regulations/" target="_blank" rel="noopener"><strong>The Andhra Pradesh Electricity Regulatory Commission issued a preliminary draft of the Green Energy Open Access, Charges, and Banking Regulations in 2023.</strong></a> The regulation applies to granting open access for electricity generated from renewable energy sources for utilization within the state involving Intra-State Transmission Systems (lnSTS) and/or distribution systems of licensed entities. It also encompasses those InSTS and/or distribution systems that are incidental to the Interstate Transmission of electricity.</p>
<p><a href="https://www.mercomindia.com/the-residential-rooftop-in-kerala/" target="_blank" rel="noopener"><strong>Kerala achieved an 18% growth in rooftop solar capacity between the second quarter of 2022 and Q2 of 2023, with approximately ~276 MW of rooftop solar capacity installed during the period, the Mercom India Rooftop Solar Market Report Q2 2023 revealed.</strong></a> About half the capacity during the period was added under the Kerala State Electricity Board’s Soura program, which encourages the adoption of residential rooftop solar systems. One of the unique challenges Kerala faced in its pursuit of solar energy was its geographical landscape. A large share of the land in the state is fertile and for ideal agricultural activities, so leasing it for utility-scale projects is challenging and expensive. To address this challenge, the state has decided to go with rooftop systems to meet its solar energy targets.</p>
<p><strong><a href="https://www.mercomindia.com/ntpc-tender-1-5-gw-ists-connected-solar-projects" target="_blank" rel="noopener">NTPC has invited bids to set up 1,500 MW of interstate transmission system-connected solar power projects across India.</a></strong> The minimum capacity of each project must be 50 MW, and the maximum capacity to be quoted by a bidder should not exceed 750 MW. The last date to submit the bids online is October 27, 2023. Bids will be opened on the same day.</p>
<p><a href="https://www.mercomindia.com/madhya-pradesh-invites-solar-projects-under-kusum/" target="_blank" rel="noopener"><strong>The Madhya Pradesh Urja Vikas Nigam invited bids to select renewable power generators to set up 670 MW grid-connected solar power projects under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan program.</strong></a>The last date for the submission of bids is October 10, 2023. Bids will open on November 3.The scope of work includes designing, engineering, supplying, constructing, erecting, testing, commissioning, and construction of bays and related switchgear at the substation.It also involves comprehensive operation and maintenance services for the power purchase agreement period of 25 years.</p>
<p><strong><a href="https://www.mercomindia.com/gujarat-hikes-additional-consumers-to-%e2%82%b90-87-kwh" target="_blank" rel="noopener">The Gujarat Electricity Regulatory Commission has revised the additional surcharge for open access consumers to ₹0.87 (~$0.0105)/kWh for the period from October 1, 2023, to March 31, 2024.</a></strong> The revised additional surcharge is an increase of 14.47% from ₹0.76 (~$0.0091)/kWh set for the first half of the financial year 2023-24, from April 1, 2023, to September 30, 2023. The Commission arrived at the levy through the revised methodology for calculating the additional surcharge, issued in an order back in 2022.</p>
<p><a href="https://www.mercomindia.com/bolt-earth-20-million-product-portfolio-expansion/" target="_blank" rel="noopener"><strong>Bolt.Earth, an India-based electric vehicle infrastructure and software company, secured $20 million in a recent funding round led by a consortium of existing and new investors, including Union Square Ventures, Prime Venture Partners, and ITIGO Funds.</strong></a> The company offers an operating system, a connected platform technology that helps manufacturers develop, operate, and monitor their charging networks and vehicles. The primary allocation of the funding will be directed towards the expansion of Bolt. Earth’s charging network.</p>
<p><a href="https://www.mercomindia.com/from-risk-to-reward-hybrid-renewable-projects/" target="_blank" rel="noopener"><strong>Wind-Solar hybrid projects are considered one of the most viable options to manage intermittency issues faced by standalone wind and solar power sources.</strong></a> These projects are especially crucial because they optimize land and transmission systems while providing a power supply for a longer duration. Mercom India will host a webinar titled “Addressing the Challenges and Solutions in Hybrid Renewable Energy Project Insurance” on October 10, 2023, at 3:00 pm IST. The webinar will shed light on the key challenges associated with the insurance of such projects and offer insights into effective risk mitigation strategies.</p>
<p><a href="https://www.mercomindia.com/lg-energy-expand-battery-manufacturing-us/" target="_blank" rel="noopener"><strong>Battery manufacturer LG Energy Solution will invest KRW4 trillion (~$3 billion) in its Michigan facility to establish new production lines for battery cells and modules exclusively for Toyota, with completion slated for 2025.</strong></a>Under the contract, LG Energy Solution will supply 20 GWh of automotive battery modules consisting of high-nickel nickel, cobalt, manganese, and aluminum pouch-type cells annually to Toyota’s motor manufacturing facility in Kentucky to be assembled into battery packs.</p>
<p><a href="https://www.mercomindia.com/apac-3-3-trillion-power-generation-renewables-report/" target="_blank" rel="noopener"><strong>The Asia Pacific region is forecast to invest $3.3 trillion in power generation over the next decade, with a strong focus on renewables.</strong></a> Wind and solar energy would account for 49% of the investment, while energy storage would receive 12% of the total investments, as per Wood Mackenzie’s latest analysis. In the coming five years, the region is set to add 1,840 GW of new capacity, outpacing the rest of the world combined, as India and China invest in a mix of coal and renewables to address escalating power needs. India, the second-largest power market after China in the region, wields a pivotal role in the global energy transition, driven by its substantial economic growth and soaring power demand.</p>


Daily News Wrap-Up: Jodhpur’s Tender for 1.5 GW Solar Projects Under KUSUM


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					</table><p>Battery manufacturer <a href="https://www.lgensol.com/en/index" target="_blank" rel="noopener">LG Energy Solution</a> will invest KRW4 trillion (~$3 billion) in its Michigan facility to establish new production lines for battery cells and modules exclusively for <a href="https://global.toyota/en/" target="_blank" rel="noopener">Toyota</a>, with completion slated for 2025.</p>
<p>Under the contract, LG Energy Solution will supply 20 GWh of automotive battery modules consisting of high-nickel NCMA (nickel, cobalt, manganese, aluminum) pouch-type cells annually to Toyota’s motor manufacturing facility in Kentucky to be assembled into battery packs.</p>
<p>The innovative power solutions will support Toyota’s expanding line of battery power battery vehicles (BEVs), part of its multi-pathway product strategy, including a new model that will be assembled at Toyota Motor Manufacturing Kentucky in 2025.</p>
<p>The new battery modules will also help further Toyota’s vehicle electrification initiatives, as it aspires to offer 30 BEV models globally across its Toyota and Lexus brand nameplates and produce up to 3.5 million BEVs annually by 2030.</p>
<p>Tetsuo Ogawa, president and CEO of Toyota Motor North America, said, “Having secure supplies of lithium-ion batteries at scale with a long-term relationship to support Toyota’s multi-pathway approach and growth plans for BEVs in North America is critical to achieving our manufacturing and carbon reduction plans. Working with LG Energy Solution, we are excited to be able to offer products that will provide the performance and quality our customers expect.”</p>
<p>LGES has eight battery manufacturing facilities operating or under construction in North America and intends to expand both its production network and supply chain in the region.</p>
<p>In May, LG Energy Solution and Hyundai Motor Group <a href="https://www.mercomindia.com/lg-and-hyundai-to-build-4-3-manufacturing-unit-in-us" target="_blank" rel="noopener">announced</a> a joint venture to manufacture EV battery cells in the U.S. The joint venture will be in Bryan County, Savannah, Georgia.</p>
<p>Earlier, LG Energy Solution had <a href="https://www.mercomindia.com/lg-energy-solution-new-battery-plants-us" target="_blank" rel="noopener">announced</a> plans to invest roughly KRW7.2 trillion (~$5.5 billion) to build a battery manufacturing complex in Arizona, U.S. The investment is more than four times the amount LG had initially announced to manufacture cylindrical EV batteries in the same location.</p>


LG Energy to Invest $3 Billion to Expand its Battery Manufacturing Unit in US


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					</table><p>Battery manufacturer <a href="https://www.lgensol.com/en/index" target="_blank" rel="noopener">LG Energy Solution</a> has raised $1 billion through its inaugural global green bonds.</p>
<p>The funds raised will be used to expedite investments in the company’s global battery production network.</p>
<p>The bond issuance consists of a three-year bond worth $400 million and a five-year bond valued at $600 million.</p>
<p>The three-year bond attracted orders from 114 institutional investors, while the five-year bond saw interest from 186 investors, resulting in a total order volume five times greater than the bond issuance size.</p>
<p>LG Energy said the successful bond issuance reflected the strong confidence in the company&#8217;s growth prospects, its active investment strategies, and the implementation of the Inflation Reduction Act.</p>
<p>During the first quarter of this year, the company said it had allocated KRW6.3 trillion (~$4.75 billion) for capital expenditures in global battery production the previous year and is planning to increase this year&#8217;s investment by over 50%.</p>
<p>LG Energy Solution said it was planning to make substantial investments to expand its product portfolio in electric vehicle (EV) batteries, energy storage systems (ESS), and other areas.</p>
<p>The company intends to triple its revenue in ESS over the next five years.</p>
<p>As of June 2023, LG Energy Solution&#8217;s total order backlog has reached KRW440 trillion (~$331.56 billion).</p>
<p>In May, LG Energy Solution and Hyundai Motor Group <a href="https://www.mercomindia.com/lg-and-hyundai-to-build-4-3-manufacturing-unit-in-us" target="_blank" rel="noopener">announced</a> a joint venture to manufacture EV battery cells in the United States. The joint venture will be in Bryan County, Savannah, Georgia.</p>
<p>Earlier, LG Energy Solution had <a href="https://www.mercomindia.com/lg-energy-solution-new-battery-plants-us" target="_blank" rel="noopener">announced</a> plans to invest roughly KRW7.2 trillion (~$5.5 billion) to build a battery manufacturing complex in Arizona, U.S. The investment is more than four times the amount LG had initially announced to manufacture cylindrical EV batteries in the same location.</p>


Battery Maker LG Energy Solution Raises $1 Billion in Green Bonds


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					</table><p>Battery manufacturer <a href="https://www.lgensol.com/en/index" target="_blank" rel="noopener">LG Energy Solution</a> plans to invest roughly KRW 7.2 trillion (~$5.5 billion) to build a battery manufacturing complex in Arizona, United States. The current investment is more than four times the amount LG had initially announced last year to manufacture cylindrical EV batteries in the same location.</p>
<p>The company&#8217;s decision to increase investment in cylindrical EV battery production in North America comes from rising demand from EV makers for locally manufactured high-quality, high-performance batteries to satisfy the Inflation Reduction Act&#8217;s EV tax credits.</p>
<p>The complex will comprise two manufacturing facilities, one for cylindrical batteries specifically designed for electric vehicles and the other for lithium iron phosphate (LFP) pouch-type batteries suitable for energy storage systems (ESS).</p>
<p>The company plans to invest KRW4.2 trillion (~$3.2 billion) in building a cylindrical battery manufacturing facility with a capacity of 27 GWh and KRW3 trillion (~$2.3 billion) in LFP pouch-type battery facility with a capacity of 16 GWh. Both facilities, totaling 43 GWh, plan to break ground this year.</p>
<p>&#8220;Our decision to invest in Arizona demonstrates our strategic initiative to continue expanding our global production network, which is already the largest in the world, to further advance our innovative and top-quality products in scale and with speed,&#8221; said Youngsoo Kwon, CEO of LG Energy Solution.</p>
<p>The cylindrical battery manufacturing facility is set to commence mass production of 2170 cells by 2025, primarily targeting electric vehicle manufacturers in North America. LG claims this facility is the U.S.&#8217;s first cylindrical battery manufacturing plant, solely funded by a Korean battery manufacturer.</p>
<p>LG aims to commence production of LFP pouch-type batteries for ESS in 2026. This state-of-the-art facility will leverage LG Energy Solution Vertech&#8217;s fully integrated energy storage solutions, enabling the company to broaden its presence across the entire ESS value chain.</p>
<p>LG Energy Solution and Honda <a href="https://www.mercomindia.com/daily-news-wrap-up-lg-honda-produce-ev-batteries" target="_blank" rel="noopener">announced</a> they would establish a joint venture to produce lithium-ion batteries in the U.S. to power Honda and Acura EV models for the North American market.<strong> </strong> LGES and Honda will invest $4.4 billion in the plant. The plant aims to have an annual production capacity of approximately 40 GWh.</p>
<p>Total corporate funding (including venture capital funding, public market, and debt financing) for the energy storage, smart grid, and energy efficiency sectors in 2022 was up 63% with $31.7 billion <a href="https://mercomcapital.com/product/annual-q4-2022-funding-ma-report-for-storage-grid-efficiency/" target="_blank" rel="noopener">compared</a> to $19.5 billion in 2021, according to Annual and Q4 2022 Funding and M&amp;A Report for Storage, Grid &amp; Efficiency.</p>


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