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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/solar-auctions-surge-2023/" target="_blank" rel="noopener"><strong>Solar auctions during the calendar year 2023 witnessed an 82% year-over-year (YoY) growth, with 22.2 GW projects auctioned, according to Mercom India Research.</strong></a> Falling module prices, streamlined balance of system (BoS) and modules’ supply, and stable BoS prices drove the auction activity in 2023. Solar tender activity in 2023 surged by 50% YoY, with multiple entities announcing tenders totaling over 57 GW.</p>
<p><a href="https://www.mercomindia.com/mnre-adds-new-solar-module-capacity-almm/" target="_blank" rel="noopener"><strong>The Ministry of New and Renewable Energy has expanded the Approved List of Models and Manufacturers (ALMM) by adding 64 MW of new solar module capacity.</strong></a> The cumulative module manufacturing capacity now stands at 22,191 MW. With the latest addition, the ALMM now has 72 module manufacturers. Nearly half or 39 companies have enlisted module capacities of 500 Wp and above. Even after the latest update, the ALMM has no foreign manufacturers.</p>
<p><a href="https://www.mercomindia.com/torrent-renew-win-remcs-750-mw-renewable-auction/" target="_blank" rel="noopener"><strong>Torrent Power, ReNew Solar Power, TEQ Green Power XIII (O2 Power), NTPC Renewable Energy, ACME Cleantech Solutions, and Tata Power Renewable were declared winners in REMC Limited’s auction</strong></a> to supply 750 MW of round-the-clock power from grid-connected renewable projects with or without storage across India for 25 years. Torrent Power quoted the lowest tariff of ₹4.25 (~$0.051)/kWh to win 100 MW. ReNew Solar, TEQ Green Power, NTPC Renewable Energy, and ACME Cleantech Solutions quoted ₹4.37 (~$0.052)/kWh and won 200 MW, 100 MW, 200 MW, and 100 MW respectively.</p>
<p><a href="https://www.mercomindia.com/ntpc-renewable-energy-500-mw-rajasthan/" target="_blank" rel="noopener"><strong>NTPC Renewable Energy, a wholly owned subsidiary of NTPC, has invited bids for the engineering, procurement, and construction of 500 MW (2x 250 MW) grid-connected solar power projects in Bikaner, Rajasthan.</strong></a> The last date for the submission of bids is February 28, 2024. Bids will be opened the same day. The bid security for a single block is ₹100 million (~$1.2 million) and ₹200 million (~$2.4 million) for two blocks.</p>
<p><a href="https://www.mercomindia.com/guvnl-floats-tender-of-solar-projects/" target="_blank" rel="noopener"><strong>Gujarat Urja Vikas Nigam has invited bids to procure power from 1,125 MW grid-connected solar power projects to be set up in Gujarat State Electricity Corporation’s renewable energy park at Khavda without energy storage.</strong></a> The last date for the submission of bids is February 15, 2024. Bids will be opened on February 19. Bidders must submit ₹25,000 (~$300) + 18% GST as cost of the tender document. The bid processing fee is ₹300,000 (~$3,603).</p>
<p><a href="https://www.mercomindia.com/uttarakhand-empanelment-tender-250-mw/" target="_blank" rel="noopener"><strong>The Uttarakhand Renewable Energy Development Agency has invited bids to empanel developers to commission 250 MW of grid-connected solar power projects under “Mukhyamantri Saur Swarojgar Yojana.”</strong></a> The selected developers must also oversee the project’s comprehensive operation and maintenance for five years. The last day to submit the bids is February 8, 2024. Bids will be opened the next day.</p>
<p><a href="https://www.mercomindia.com/assam-issues-consultancy-solar-project/" target="_blank" rel="noopener"><strong>The Assam Power Distribution Company has invited expressions of interest for project management consultant services for a 1,000 MW grid-connected solar project in Karbi Anglong district of Assam.</strong></a> The solar project, financed by the Asian Development Bank, is part of the ‘Mukhya Mantri Sauro Shakti Prokolpo’ initiative of the Assam government. The last date for submission of EoI is February 25, 2024.</p>
<p><a href="https://www.mercomindia.com/responsability-injects-25-million-blusmart/" target="_blank" rel="noopener"><strong>Switzerland-based responsAbility, an impact-investment firm with over $4.7 billion in assets under management, said it would invest up to $25 million in BluSmart, an electric vehicle (EV) ride-hailing service in India.</strong></a> The investment, part of responsAbility’s broader $500 million climate strategy aimed at reducing carbon emissions in Asia through investments in low-emission technologies, will help BluSmart expand its EV charging infrastructure to enable large-scale adoption of electric mobility.</p>
<p><a href="https://www.mercomindia.com/china-adds-217-gw-power-capacity-in-2023/" target="_blank" rel="noopener"><strong>China’s cumulative installed power capacity reached approximately 2.92 TW, a YoY increase of 13.9%, with solar power accounting for 609.49 GW, a YoY 55.2% jump.</strong></a> According to China’s National Energy Administration, the country added 216.9 GW of solar capacity in 2023, marking a 148 % YoY increase compared to 87.4 GW in 2022. Major power generation enterprises invested CNY967.5 billion (~$151.17 billion) in power projects, representing a 30.1% YoY increase.</p>
<p><a href="https://www.mercomindia.com/germanys-multi-gw-solar-wafer-plant/" target="_blank" rel="noopener"><strong>Germany-based solar wafer manufacturer NexWafe has set up a subsidiary in the U.S. to explore establishing a multi-gigawatt scale production facility with an initial capacity of 6 GW.</strong></a> The North American facility will leverage NexWafe’s production technology from its 250 MW under-construction commercial facility in Bitterfeld, Germany. According to NexWafe, its patented green solar wafer manufacturing simplifies polysilicon production reduces energy use and production time, helping cut production costs for n-type monocrystalline wafers.</p>


Daily News Wrap-Up: Solar Auctions Surge 82% YoY in 2023


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					</table><p>Germany-based solar wafer manufacturer <a href="https://www.nexwafe.com/" target="_blank" rel="noopener">NexWafe </a>has set up a subsidiary in the U.S. to explore establishing a multi-gigawatt scale production facility with an initial capacity of 6 GW.</p>
<p>The North American facility will leverage NexWafe&#8217;s production technology from its 250 MW <a href="https://www.mercomindia.com/germanys-nexwafe-green-solar-wafer-production" target="_blank" rel="noopener">under-construction</a> commercial facility in Bitterfeld, Germany.</p>
<p>According to NexWafe, its patented green solar wafer manufacturing simplifies polysilicon production reduces energy use and production time, helping cut production costs for n-type monocrystalline wafers. The company claims its gas-to-wafer manufacturing process minimizes waste, resulting in less expensive wafers than conventional wafers.</p>
<p>The company said it is actively working on securing strategic partnerships, assessing potential manufacturing locations and the associated regional incentives, and securing offtake agreements for domestic wafer supply. It will also leverage incentives available under the Inflation Reduction Act, which aims to spur green manufacturing in the U.S.</p>
<p>&#8220;Multiple top-tier solar companies have committed to advanced PV cell and module manufacturing at a multi-gigawatt scale across the U.S.,&#8221; said Jonathan Pickering, VP of Business Development, adding that NexWafe is targeting this opportunity by developing a gigawatt-scale facility to manufacture American-made, thin silicon wafers to serve U.S. customers.</p>
<p>&#8220;We can do so while achieving a 60% reduction in the carbon footprint compared to today&#8217;s technology,&#8221; he said.</p>
<p>NexWafe had secured €30 million (~$32 million) from a group of investors, including <a href="https://www.ril.com/OurBusinesses/New-Energy.aspx" target="_blank" rel="noopener">Reliance New Energy</a>, to accelerate the construction of its green solar wafers production facility in Bitterfeld. Reliance also plans to build a large-scale wafer manufacturing facility in India using NexWafe&#8217;s processes and technology.</p>
<p>The company had also said that it would work with one of its other investors, <a href="https://aramcoventures.com/" target="_blank" rel="noopener">Aramco Ventures</a>, on a green solar wafer production facility that will be built in Saudi Arabia with participation from the latter&#8217;s $1.5 billion Sustainability Fund.</p>
<p>NexWafe&#8217;s investors also include ATHOS Venture and former Australian Prime Minister Malcolm Turnbull and Keshik Capital, led by his son Alex Turnbull.</p>


Germany’s NexWafe Eyes US for Multi-GW Solar Wafer Plant


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					</table><p><strong><a href="https://www.mercomindia.com/india-installs-485-mw-of-rooftop-solar-6-4-yoy" target="_blank" rel="noopener">In the first quarter (Q1) 2023, 485 MW of rooftop solar capacity was added, up 0.4% compared to 483 MW in Q4 2022. In a year-over-year (YoY) comparison, installations were up 6.4%.</a></strong> The findings were published in Mercom India Research’s newly released Q1 2023 Mercom India Rooftop Solar Market Report. The increase in capacity was attributed to the rapid growth of installations in states like Gujarat, Kerala, and Karnataka in the report.</p>
<p><strong><a href="https://www.mercomindia.com/seci-rooftop-solar-subsidy-april-2023" target="_blank" rel="noopener">The Solar Energy Corporation of India has disbursed ₹40.9 million (~$495,480) as subsidies under the rooftop solar program in April 2023, a 194% increase from ₹13.9 (~$168,023) in the previous month</a></strong><strong>. </strong>Sunsource Energy, Sukhbir Agro Energy, Genii Engineering &amp; Services, Divvy Solar Power &amp; Solutions, and Geopower India were the bigger beneficiaries of rooftop solar subsidies. SECI disbursed ₹8.8 billion (~$107.1 million) to wind and solar energy generators for the electricity procured in April 2023.</p>
<p><strong><a href="https://www.mercomindia.com/cleanmax-360-million-funding-expand-ci-portfolio" target="_blank" rel="noopener">Mumbai-based renewable energy company CleanMax Enviro Energy Solutions has successfully concluded an equity fund raise of approximately $360 million from Brookfield Renewable, facilitated through the Brookfield Global Transition Fund.</a></strong> The funding comprises a mix of primary and secondary investments and will provide CleanMax with the necessary capital to pursue its ambitious growth plans of becoming a platform exceeding 5 GW within the next three to four years. The company aims to expand its C&amp;I footprint both within India and internationally.</p>
<p><strong><a href="https://www.mercomindia.com/capgeminis-india-office-100-renewable-energy" target="_blank" rel="noopener">Capgemini, a France-headquartered multinational corporation, announced that all its facilities across 13 cities in India are now powered by 100% renewable energy, which enables the company to avoid more than 70,000 tons of carbon emissions per year.</a></strong> The company’s energy transition was achieved through a combination of on-site renewable energy generation, off-site renewable energy procurement via power purchase agreements, and green power purchasing through utility programs, contributing to 83% of the renewable energy supply. The remaining 17% is sourced from renewable energy certificates.</p>
<p><strong><a href="https://www.mercomindia.com/himadri-invests-7-million-australian-startup-sicona" target="_blank" rel="noopener">India-based specialty chemical company Himadri has announced an investment of AU$10.32 million (~$7 million) in Australian startup Sicona Battery Technologies to produce high-quality anode materials.</a></strong> The investment aims to accelerate product and technology development for Sicona while expediting the commercial deployment of the lithium-ion battery. The company Himadri will also use the investment to further the company’s explorations in innovative technologies in the battery material segment.</p>
<p><strong><a href="https://www.mercomindia.com/newtrace-raises-5-65-million-seed-round" target="_blank" rel="noopener">Bengaluru-based climate tech startup Newtrace, which builds electrolyzers, has raised $5.65 million in a seed round led by Sequoia Capital India and Aavishkaar Capital.</a></strong> The round also saw the participation from investors Speciale Invest and Micelio Fund along with Ashish Goel, Founder-CEO of Urban Ladder and IKP Knowledge Park. The funds will be used to expand Newtrace’s electrolyzer manufacturing and deployment capabilities.</p>
<p><strong><a href="https://www.mercomindia.com/mytilineos-enters-canadian-1-2-gw-solar-projects" target="_blank" rel="noopener">MYTILINEOS Energy &amp; Metals, a global industrial and energy company, announced its entry into the Canadian market through the acquisition of a 1,235 MW (1.4 GWdc) Alberta solar portfolio from Westbridge Renewable Energy</a></strong><strong>.</strong> The transaction, valued at CAD$1.7 billion (~$1.2 billion), involves the purchase of five solar projects by MYTILINEOS’ subsidiary, M Renewables. The projects – Georgetown Solar (230 MW), Sunnynook Solar (280 MW), Dolcy Solar (200 MW), Eastervale Solar (300 MW), and Red Willow Solar (225 MW), are projected to generate 2.1 TWh per year of renewable energy, equivalent to powering 200,000 Canadian homes annually or eliminating the emissions of 330,000 cars for a year.</p>
<p><strong><a href="https://www.mercomindia.com/germanys-nexwafe-green-solar-wafer-production" target="_blank" rel="noopener">Solar wafer manufacturer NexWafe GmbH has secured €30 million (~$32 million) from a group of investors, including Reliance New Energy, to accelerate the construction of its first commercial-scale green solar wafers production facility in Germany’s Bitterfeld</a></strong>. In parallel, NexWafe will work with one of its other investors Aramco Ventures, on a green solar wafer production facility that will be built in Saudi Arabia with participation from the latter’s $1.5 billion Sustainability Fund.</p>
<p><strong><a href="https://www.mercomindia.com/canadian-solar-subsidiary-ipo-pricing-shanghai-bourse" target="_blank" rel="noopener">Canadian Solar, a solar module manufacturer headquartered in Canada, has revealed the pricing for the shares of CSI Solar, its majority-owned subsidiary, as part of its proposed initial public offering (IPO) on the Shanghai Stock Exchange.</a></strong> The proposed price for the IPO stands at RMB 11.10 (~$1.56) per share, with estimated total gross proceeds of approximately RMB 6 billion (~$844.13 million). Currently, Canadian Solar holds around 80% of the outstanding shares of CSI Solar. CSI Solar intends to offer 541,058,824 shares, constituting 15% of the total outstanding shares of 3,607,058,824 after the IPO.</p>
<p><strong><a href="https://www.mercomindia.com/iberdrola-norges-bank-1-3-billion-deal" target="_blank" rel="noopener">Spain-based independent power producer Iberdrola and the sovereign fund of Norway, managed by Norges Bank Investment Management, have committed to a joint investment of €1.2 billion (~$1.3 billion) to develop 1,265 MW of new renewable energy capacity in Spain.</a></strong> The collaborative effort will comprise 20% wind and 80% solar power installations. Currently, 137 MW of the total capacity is already operational in Castilla-La Mancha and Aragon, while the remaining projects are in various stages of development.</p>


Daily News Wrap-Up: India’s Rooftop Solar Capacity Grew 6.4% YoY in Q1

<p>Reliance New Energy Solar, the green energy arm of <a href="https://www.ril.com/" target="_blank" rel="noopener">Reliance Industries</a>, will invest €25 million (~$29 million) in a Germany-based solar wafer manufacturer, <a href="https://www.nexwafe.com/" target="_blank" rel="noopener">NexWafe GmbH</a>.</p>
<p>Reliance New Energy Solar will be the strategic lead investor for NexWafe’s €39 million (~$45 million) Series C financing round. InnoEnergy, Lynwood, Saudi Aramco Energy Ventures, and other incumbent and new investors participated in the funding round.</p>
<p>InnoEnergy is expected to convert its current debt of €4 million (~$4.7 million) in NexWafe into equity at the same share prices as the Series C round shares.</p>
<p>The fresh funding will help NexWafe accelerate product and technology development, including completing the commercial and development of its solar products on prototype lines in Freiburg.</p>
<p>The companies also signed an India Strategic Partnership Agreement for joint technology development and commercialization of high-efficiency monocrystalline solar wafers.</p>
<p>Reliance plans to build a large-scale wafer manufacturing facility in India using NexWafe’s processes and technology with this partnership.</p>
<p>NexWafe develops and produces monocrystalline silicon wafers from inexpensive raw materials, going directly from a gas phase to finished wafers. The process removes the need for costly and energy-intensive steps like polysilicon production and ingot pulling, which traditional wafer manufacturing relies on.</p>
<p>The solar wafer manufacturer uses in-line manufacturing to form an initial release layer and for epitaxial deposition of silicon in an atmospheric chemical vapor deposition process. It said its patented technology would cut wafer production costs, making solar photovoltaics the lowest-cost form of renewable energy available.</p>
<p>Bart Markus, Chairman of NexWafe, said Reliance’s commitment would help the company reshape and reinvent the silicon wafer and deploy high-efficiency photovoltaics at scale.</p>
<p>Mukesh Ambani, Chairman of Reliance Industries Limited, said, “We believe NexWafe’s innovative ultra-thin wafer will give solar manufacturers a significant advantage over existing photovoltaic technologies, helping consumers in India and globally realize the benefits of solar energy more quickly and efficiently.”</p>
<p>Reliance New Energy Solar also signed a cooperation agreement with <a href="https://www.stiesdal.com/">Stiesdal</a> to develop and manufacture Steisdal’s HydroGen Electrolyzers in India.</p>
<p>Stiesdal said that its HydroGen Electrolyzer technology is effective for green hydrogen production at a game-changing cost level. This will combine with Reliance’s expertise in innovation, project execution, and operational excellence to bring affordable green hydrogen to millions of Indians.</p>
<p>The companies will extend their collaboration to develop and implement other climate change technologies, including offshore wind energy, next-generation fuel cells for conversion of hydrogen to electricity, long-duration storage, and production of carbon-negative fuels.</p>
<p>The investment in NexWafe and collaboration with Stiesdal comes close on the heels of Reliance’s<a href="https://mercomindia.com/reliance-buy-stake-sterling-wilson/" target="_blank" rel="noopener"> announcement</a> to acquire a 40% stake in Sterling and Wilson Solar.</p>
<p>Earlier this month, Reliance New Energy <a href="https://mercomindia.com/reliance-acquires-rec-solar-holding/" target="_blank" rel="noopener">acquired</a> REC Solar Holdings from China National Bluestar Group for $771 million.</p>
<p>In June 2021, Mukesh Ambani <a href="https://mercomindia.com/reliance-foray-into-solar-battery/" target="_blank" rel="noopener">announced</a> that Reliance Industries would invest ₹750 billion (~$10 billion) to build an integrated solar PV factory, advanced energy storage battery manufacturing unit, green hydrogen, and fuel cell facility in Gujarat’s Jamnagar.</p>


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