ACME Solar Holdings’ ₹29 Billion IPO to Hit the Market on November 6, 2024

Jodhpur DISCOM Tenders 333 MW Solar Projects Under PM KUSUM

CIE Automotive to Procure Power from ReNew’s 7.8 MW Captive Solar Project

John Cockerill to Supply Electrolyzers to AM Green’s Ammonia Project

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

JinkoSolar’s Revenue Drops 23% YoY in Q3 Due to Lower Module Prices

First Solar Revenue Falls Short in Q3, Revises 2024 Guidance Amid Sector Pressures

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

<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="http://mercomindia.com/wp-content/uploads/2022/10/amazon_polly_42498.mp3?version=1665119297">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>Here are some noteworthy cleantech announcements of the day from around the world:
JSW Neo Energy <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/32c6fdf3-f95e-4136-9810-ca91cd44437b.pdf" target="_blank" rel="noopener">entered</a> into a memorandum of understanding with the Government of Maharashtra to set up a 960 MW hydro-pumped storage project (PSP). JSW Neo Energy has been securing key resources for hydro PSPs in various resource-rich states for projects with a targeted capacity totaling up to 10 GW. The company has secured resources for ~6 GW hydro PSP. JSW Energy&#8217;s platform capacity stands at ~9.1 GW, including 1.75 GW of renewable assets under acquisition from Mytrah and about 2.5 GW of under-construction wind and hydro projects, which are likely to be commissioned in phases over the next 12-24 months.
Netherlands-based green hydrogen company Lhyfe will <a href="https://www.lhyfe.com/press/green-and-renewable-hydrogen-producer-lhyfe-to-develop-200-mw-plant-in-delfzijl-netherlands/" target="_blank" rel="noopener">develop</a> a 200 MW hydrogen production facility in the northeastern region of the Netherlands. The facility is expected to have access to offshore wind turbines to supply electricity for the hydrogen production process and the potential for hydrogen storage in an old salt cavern. Lhyfe is working on a rapid ramp-up of the green and renewable hydrogen market in many European countries. The company targets a total installed capacity of 3 GW by 2030. The company recently inaugurated an offshore renewable green hydrogen production pilot in Saint-Nazaire, France.
DIF Capital Partners will <a href="https://www.dif.eu/news/dif-capital-partners-invests-in-leading-global-renewable-energy-platform-qair/" target="_blank" rel="noopener">invest</a> an undisclosed amount in France-based renewable power producer Qair through DIF Infrastructure VII. DIF Infrastructure VII is a target core and build-to-core infrastructure equity investment with long-term contracted or regulated income streams, including public-private partnerships, concessions, utilities, and energy transition projects. Qair is an independent power producer that develops, owns, and operates multi-technology renewable energy projects. The platform is focused on a wide range of technologies, including wind, solar, energy from waste, battery storage, hydrogen production, and tidal energy. The company benefits from strong development capabilities and foresees adding around 4 GW of renewable projects over the next five years.
Rio Tinto-controlled titanium producer, Richards Bay Minerals, will be <a href="https://www.businesswire.com/news/home/20221005005915/en/Rio-Tinto-partners-with-Voltalia-for-renewable-solar-power-at-Richards-Bay-Minerals" target="_blank" rel="noopener">supplied</a> with renewable solar power through an agreement with international energy company Voltalia and local Black Economic Empowerment (BEE) partners for its operation in KwaZulu-Natal, South Africa. The 20-year contract will supply around 300 GWh of renewable energy annually via a wheeling arrangement to RBM&#8217;s smelting and processing facilities in KwaZulu-Natal. Voltalia will begin construction of the Bolobedu Solar renewable energy project in 2023 at a site in the province of Limpopo. It is likely to begin generating in 2024. The renewable power supply is expected to cut RBM&#8217;s annual greenhouse gas emissions by at least 10%.
Fluence Energy and TransnetBW will <a href="https://www.globenewswire.com/news-release/2022/10/05/2528373/0/en/World-s-Largest-Storage-as-Transmission-Project-Announced-by-Fluence-and-TransnetBW-to-Strengthen-Energy-Security-and-Renewable-Integration-in-Germany.html" target="_blank" rel="noopener">deploy</a> a 250 MW battery-based energy storage-as-transmission project. The project will improve energy security and significantly support Germany&#8217;s energy transition pathway by increasing the efficiency of the existing grid infrastructure. It is planned for completion in 2025 and will reduce the operating costs of Germany&#8217;s transmission system. The Netzbooster project will lower the number of required preventive measures in system operation while also increasing the utilization of the electricity grid, thus reducing the need for traditional network reinforcement and expansion.
Volvo Trucks will <a href="https://www.volvogroup.com/en/news-and-media/news/2022/oct/news-4368131.html" target="_blank" rel="noopener">deliver</a> fully electric heavy-duty trucks to Amazon in Germany by year&#8217;s end. The 20 Volvo FH Electric are expected to drive more than one million road kilometers annually, fuelled with electricity instead of diesel. The electric versions of its most important product range – the heavy-duty Volvo FH, Volvo FM, and Volvo FMX trucks – will play a vital role in reaching Volvo Trucks&#8217; global target that in 2030 50% of all new trucks sold will be battery or fuel cell electric. These heavy-duty electric trucks can operate at a total weight of 44 tons, and the three models represent around two-thirds of the company&#8217;s sales. For Amazon, the trucks will replace their diesel counterparts and play a key role in electrification initiatives through its transportation chain.

Daily News Wrap-Up: JSW Inks MoU with Maharashtra for 960 MW Pumped Hydro Storage Project

Here are some noteworthy cleantech announcements of the day from around the world:
HeidelbergCement India <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/c67e0b0e-0054-477b-b197-1e31a5fde618.pdf" target="_blank" rel="noopener">announced</a> the commissioning of a 5.5 MW solar project in its mining area located in Damoh, Madhya Pradesh. The project is expected to generate around 10 GWh per annum of solar energy and will help power the mining operations and clinker plant at Damoh. This will replace the electricity purchased under short-term open access and from the grid. The expected CO2 savings would be approximately 225,000 tons over the standard life of the project.
Greenko ZeroC (GZC), a subsidiary of Greenko Group, and John Cockerill, a Belgium-based designer and manufacturer of high-capacity alkaline electrolyzers, <a href="https://johncockerill.com/wp-content/uploads/2022/04/20220405_joint-press-release-signature-agreement-jc-greenko_final-2.pdf" target="_blank" rel="noopener">signed</a> an exclusive Framework Agreement to jointly develop market initiatives for green hydrogen electrolyzers in the Indian sub-continent. The pressurized alkaline technology provided by John Cockerill and Greenko’s lowest-cost renewable-RTC (round-the-clock) solutions claims to enable the lowest Levelized Cost of Hydrogen (LCOH) necessary for the implementation of a large hydrogen ecosystem on the Indian sub-continent. The Gigafactory will include the complete manufacturing electrolyzer value chain, including nickel coating, and will produce electrolyzers delivering hydrogen at 30 bars at the outlet at the highest purity level.
First Solar <a href="https://investor.firstsolar.com/news/press-release-details/2022/Silicon-Ranch-and-First-Solar-expand-partnership-with-4-GW-supply-agreement/default.aspx">announced</a> that it has signed an agreement to supply 4 GW of thin film photovoltaic solar modules to Silicon Ranch, an independent power producer. The company will supply modules to Silicon Ranch’s projects in the United States from 2023 to 2025. Silicon Ranch is expected to benefit from the evolution of First Solar’s advanced Cadmium Telluride (CdTe) thin film module technology platform over the span of the agreement.
<a href="https://www.cleanvisioncorp.com/" target="_blank" rel="noopener">Clean Vision Corporation</a> announced that it has exercised its option to license patented fuel cell technology from <a href="https://www.kingsberrypower.com/" target="_blank" rel="noopener">Kingsberry Fuel Cell Power</a>. The company commissioned Kingsberry to build and deliver a five-kilowatt fuel cell prototype to produce clean power using stored hydrogen energy produced by its wholly-owned Clean-Seas subsidiary&#8217;s pilot waste plastic-to-energy pyrolysis plant in Hyderabad, India. It will be demonstrated to India&#8217;s Ministry of Defense, Ministry of Railways, executives of an EV charging station project, and others as potential clients for this technology.
Cleco Power, a U.S.-based electric public utility company, <a href="https://www.cleco.com/media/press-releases/detail/2022/04/11/cleco-power-launches-major-louisiana-economic-initiative-project-diamond-vault" target="_blank" rel="noopener">announced</a> an investment to develop a new carbon capture facility called Project Diamond Vault, located in central Louisiana at the Brame Energy Center. The project will begin with a Front End Engineering Design (FEED) study, which will re-engineer Cleco’s existing Madison 3 plant to reduce 95% or more of its carbon dioxide emissions through carbon capture and sequestration technology. The FEED study for Diamond Vault will take about 18 months to complete and will cost approximately $12 million. Cleco has secured a $9 million congressional appropriation to be administered and disbursed by Louisiana Economic Development which will help to defray the FEED study cost. After the study, Cleco plans to raise project capital funding of approximately $900 million through tax credits, Department of Energy grants, and private equity investment.
Worley, an engineering, procurement, and construction company, <a href="https://www.worley.com/news-and-media/2022/supporting-oman-to-low-carbon-fuel-production" target="_blank" rel="noopener">announced</a> that it has been contracted by Green Energy Oman (GEO), an international consortium, to support its 25 GW low-carbon fuels project. They will provide concept feasibility study services to develop and challenge GEO&#8217;s defined green hydrogen energy project. This includes optimizing around 25 GW of wind and solar generation, transforming this renewable energy through electrolysis into green hydrogen, and producing, storing, and exporting green ammonia. The overall project aims to produce over 1.8 million tons of low-carbon green hydrogen, which can produce up to 10 million tons of green ammonia per annum, supporting the local economy and global market by exporting green ammonia to help other countries decarbonize their economies.

Daily News Wrap-Up: HeidelbergCement India Commissions a 5.5 MW Solar Project

Here are some noteworthy cleantech announcements of the day from around the world:
Central Electricity Regulatory Commission (<a href="https://cercind.gov.in/" target="_blank" rel="noopener">CERC</a>) has adopted tariffs for 450 MW of grid-connected solar power projects selected through a competitive bidding process in the auction held by Rewa Ultra Mega Solar (<a href="http://rumsl.mp.gov.in/" target="_blank" rel="noopener">RUMSL</a>). <a href="https://www.ntpc.co.in/en/ntpc-renewable-energy-limited" target="_blank" rel="noopener">NTPC Renewable Energy</a> and Talettutayi Solar Projects Nine (SolarArise) won these projects in the auction on July 9, 2021. The tariff of ₹2.35 (~$0.031)/kWh for the 105 MW, ₹2.33 (~$0.030)/kWh for the 220 MW, and ₹2.339 (~$0.0314)/kWh for 125 MW was approved. The projects will be developed at the Shajapur Solar Park in Madhya Pradesh.
O2 Power, a renewable energy producer in India, and Powin, a design, manufacturing, and integration company for battery energy storage solutions, have <a href="https://powin.com/blog-southern2022-2/" target="_blank" rel="noopener">signed</a> a memorandum of understanding (MoU) to provide customized and competitive battery storage solutions for the Indian renewable energy market. As part of the agreement, Powin will supply O2 Power with its advanced Stacks product lines, including Centipede BESS hardware and StackOS software platforms. Powin will be responsible for delivering and commissioning the battery energy storage systems, while O2 Power will provide complete EPC services for developing projects.
<a href="https://www.fiskerinc.com/" target="_blank" rel="noopener">Fisker</a>, an electric vehicles manufacturer and advanced mobility solutions provider, established its India headquarters in the southern city of Hyderabad, Telangana State. Fisker Vigyan India, the company&#8217;s operating entity in Telangana, will focus on software development and embedded electronics, virtual vehicle development support functions, data analytics, and machine learning. The Hyderabad office will work alongside the Fisker engineering and product development facilities in California, USA.
Central Electricity Regulatory Commission (<a href="https://cercind.gov.in/" target="_blank" rel="noopener">CERC</a>) has approved the tariff adoption of ₹2.90 (~$0.038)/kWh for 400 MW of renewable power on a round-the-clock basis. ReNew Power won these projects in an auction held by the Solar Energy Corporation of India (SECI) in May 2020. To ensure round-the-clock supply of 400 MW of renewable power, ReNew Power is developing 900 MW of wind and 400 MW of solar projects. It has set a trading margin of ₹0.07 (~$0.0009)/kWh for SECI. However, if SECI fails to provide an escrow arrangement or irrevocable, unconditional, and revolving letter of credit to the wind generators, the trading margin will be limited to Rs. 0.02/kWh as specified in the Trading Licence Regulations.
<a href="https://www.lhyfe.com/" target="_blank" rel="noopener">Lhyfe</a>, a green hydrogen production company, and <a href="https://www.mitsui.com/jp/en/index.html" target="_blank" rel="noopener">Mitsui &amp; Co</a>, a Japanese trading and investment conglomerate, have entered a memorandum of understanding (MoU) for a strategic alliance. This partnership comes with a €10 million (~$10.861 million) investment from Mitsui in Lhyfe and seeks to collaborate for further growth of Lhyfe’s renewable green hydrogen business, including international expansion. Mitsui is the first international player to invest in Lhyfe.
Central Electricity Regulatory Commission (<a href="https://cercind.gov.in/" target="_blank" rel="noopener">CERC</a>) has adopted tariffs for 1,200 MW of wind power Projects (Tranche-X) connected to the inter-state transmission system and selected through a competitive bidding process. Adani Renewable Energy, Ayana Renewable Power, Evergreen Power, and JSW Future Energy had 1.2 GW of wind power projects in SECI’s auction held in March 2021. A tariff of ₹2.77 (~$0.0382)/kWh was approved for 300 MW and ₹2.78 (~$0.0383)/kWh for 900 MW of wind projects.

Daily News Wrap-Up: CERC Adopts Tariffs for Solar, Wind, and Hybrid Projects

lhyfe

Get the most relevant India solar and clean energy news.

RECENT POSTS