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					</table><p><a href="https://www.mercomindia.com/power-ministry-revises-rpo-targets" target="_blank" rel="noopener"><strong>The Ministry of Power, in collaboration with the Bureau of Energy Efficiency (BEE), has issued a notification amending the Energy Conservation Act of 2001 to introduce minimum renewable energy</strong></a> consumption targets for designated consumers until the financial year 2029-2030. This amendment is set to come into force on April 1, 2024. Until then, the earlier renewable purchase obligation (RPO) will remain in force.</p>
<p><a href="https://www.mercomindia.com/ampin-jupiter-international-solar-module-unit-by-fy25" target="_blank" rel="noopener"><strong>AmpIn Energy Transition, an Independent Power Producer in India, has announced a joint venture with Jupiter International to set up a facility to manufacture up to 1.3 GW of solar cells and</strong></a> modules. The facility, which is being established with funds under the government’s Production Linked Incentive program program, is expected to be commissioned in the financial year 2024-25. Under the joint venture’s terms, the modules will be used locally by AmpIn and supplied to third-party developers.</p>
<p><strong><a href="https://www.mercomindia.com/ntpc-tenders-land-gw-solar-projects" target="_blank" rel="noopener">NTPC Renewable Energy, a wholly owned subsidiary of NTPC, has invited bids for implementing land and extra high voltage transmission system package for the development</a></strong> of an Inter-State Transmission System connected solar power projects of up to 1 GW in the Bhuj region of Gujarat. The last date for the submission of bids is November 28, 2023. Bids will be opened on the same day. The individual bidders must offer a minimum capacity of 300 MW, and they can increase their bid in increments of 100 MW, up to a maximum of 1GW.</p>
<p><a href="https://www.mercomindia.com/gensol-secures-epc-contract-in-maharashtra" target="_blank" rel="noopener"><strong>Engineering and consulting firm Gensol Engineering has secured a ₹3.02 billion (~$36.3 million) contract to construct a solar power project from Maharashtra State Power Generation Company</strong></a>. The company will undertake the conceptualization, engineering, provisioning, installation, testing, and commissioning of a 62 MW grid-connected solar photovoltaic project. The facility will be in the village of Paras, Taluka Balapur, District Akola, Maharashtra.</p>
<p><a href="https://www.mercomindia.com/uttar-pradesh-potential-solar-open-access-market" target="_blank" rel="noopener"><strong>Uttar Pradesh, India’s largest state, is transitioning from a predominantly agricultural economy into a promising industrial hub.</strong></a> The state’s recent industrial initiatives have led to an increase in power demand. According to CEA, the states’ energy demand has increased by 10% year-over-year as of September 2023. The state has been attracting growing interest from solar open access developers and consumers thanks to the state’s robust incentive package.</p>
<p><a href="https://www.mercomindia.com/eu-drafts-europes-wind-energy-sector-competitive" target="_blank" rel="noopener"><strong>The European Commission has outlined a six-point action plan to make Europe’s wind energy industry competitive by ensuring more financial support and prioritizing the acceleration of permitting.</strong></a> Acknowledging that the European wind industry has recently faced difficulties with all large wind turbine manufacturers reporting significant operating losses in 2022, the Commission told the European Parliament that Europe was nowhere near the 37 GW per year needed as a cost-effective contribution to achieving the EU 2030 target for renewables.</p>
<p><a href="https://www.mercomindia.com/germany-installs-3-4-gw-solar-q3-79-yoy-growth" target="_blank" rel="noopener"><strong>Germany installed 3.4 GW of solar power capacity in the third quarter of 2023, a 79% year-over-year growth from 1.9 GW.</strong></a> On a quarter-over-quarter basis, the installations, however, witnessed a 5.6% drop from 3.6 GW. The data was published in a recent report by the German Federal Network Agency Bundesnetzagentur. The total capacity installed during the first nine months of 2023 stood at 10.1 GW, an 80.36% increase from the 5.6 GW recorded during 9M 2022.</p>
<p><a href="https://www.mercomindia.com/researchers-find-perovskite-silicon-tandem-cells" target="_blank" rel="noopener"><strong>Researchers at the University of North Carolina at Chapel Hill and the Arizona State University have discovered a method to help reduce the shunting issue mainly found in perovskite-silicon tandem</strong></a> solar cells. Perovskite silicon tandems are used to absorb high-energy light, with a silicon-made bottom cell specifically for absorbing lower-energy infrared rays, making their application popular in solar energy generation.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/mercom-staff/" class="vcard author" rel="author"><span class="fn">Mercom Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Daily News Wrap-Up: Ministry Revises RPO Targets, Eliminates Energy Storage Obligation

<p><a href="https://www.transaltarenewables.com/" target="_blank" rel="noopener">TransAlta Renewables</a> has signed an agreement to acquire a 122 MW operational solar portfolio in North Carolina, United States.</p>
<p>The company will acquire the portfolio from a fund managed by <a href="https://cipartners.dk/" target="_blank" rel="noopener">Copenhagen Infrastructure Partners</a> for $96.65 million and using existing liquidity. The acquisition is expected to be completed in the fourth quarter of 2021.</p>
<p>The portfolio includes 20 solar projects with capacities ranging between 3.2 MW and 6.7 MW. The facilities have long-term power purchase agreements (PPA) with two subsidiaries from <a href="https://www.duke-energy.com/Home" target="_blank" rel="noopener">Duke Energy</a> which have an average remaining term of 12 years. Under the PPAs, Duke receives the renewable electricity, capacity, and environmental attributes from each facility. The portfolio is expected to generate 195 GW of green energy annually.</p>
<p>According to TransAlta, the portfolio is expected to generate average annual earnings before interest, taxes, depreciation, and amortization (EBIDTA) of $9 million and average annual cash available for distribution of $7 million.</p>
<p>Commenting on the acquisition, Todd Stack, president of TransAlta Renewables, said, “This purchase marks an important and significant expansion of our solar footprint in the United States and is a natural fit for TransAlta Renewables given our focus on diversified, highly-contracted cash flows from strong counterparties.”</p>
<p>“The acquisition further strengthens our expertise in solar energy and adds a new, high-quality consumer in a region where we see significant opportunities for solar growth. We are excited to continue our path of expanding our position as a market leader in clean, renewable electricity,” Stack added.</p>
<p>The transaction is structured so that at closing, TransAlta Renewables will acquire a 100% economic interest in North Carolina Solar from a wholly-owned subsidiary of TransAlta Corporation through a tracking share structure.</p>
<p>Last month, independent power producer Soltage and investment management firm Harrison Street <a href="https://mercomindia.com/project-finance-brief-buckeye-partners-acquires-solar-project/" target="_blank" rel="noopener">announced</a> an investment in a 20 MW portfolio of community solar assets and Public Utility Regulatory Policies Act solar projects located in North Carolina, South Carolina, and Maine.</p>
<p>According to Mercom’s <a href="https://mercomcapital.com/product/1h-q2-2021-solar-funding-ma-report/" target="_blank" rel="noopener">1H and Q2 2021 Solar Funding and M&amp;A Report</a>, project acquisition activity was at a record high in Q2 2021, with over 24 GW of solar projects acquired compared to 14.6 GW in Q1 2021. Project developers and independent power producers were the most active acquirers in Q2 2021, picking up 13.3 GW, followed by oil/gas majors acquiring 9 GW of solar projects.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/harsh-shukla/" class="vcard author" rel="author"><span class="fn">Harsh Shukla</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2022/02/Harsh-Shukla-293x300-1-new.jpg" width="99" height="102" /><a href="https://mercomindia.com/author/harsh-shukla/" target="_blank" rel="noopener"><strong style="color: #00b451">Harsh Shukla</strong> </a>is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.</p>
<p><a href="https://mercomindia.com/author/harsh-shukla/">More articles from Harsh Shukla.</a></p>
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TransAlta to Acquire 122 MW Solar Portfolio from Copenhagen Infrastructure Partners

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