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

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					</table><a href="https://www.mercomindia.com/end-of-polycrystalline-solar-modules" target="_blank" rel="noopener">The recent ‘Approved List of Models and Manufacturers’ (ALMM) rules published by the Ministry of New and Renewable Energy set 19% as the minimum efficiency for the modules to be listed.</a> The minimum efficiency for modules used in utility/grid-scale power projects is set at 20%; for rooftop solar and solar pumping projects, it is 19.5%, and for solar lighting, 19%. Although it does not directly ban, it effectively eliminates polycrystalline modules, whose efficiencies have peaked at 17-18% from being listed in the ALMM going forward.
<a href="https://mercomindia.com/sjvn-invites-bids-for-1500-mw-wind-solar-hybrid-power-projects/" target="_blank" rel="noopener">SJVN, a joint venture between the Government of India and the Government of Himachal Pradesh, has invited bids from developers to set up 1,500 MW Inter-State Transmission system (ISTS)</a>-connected wind-solar hybrid power projects in India. The last date for the submission of bids is November 7, 2023. Bids will be opened on November 8. Bids will be valid for 12 months from the last date of submission of bids. SJVN will enter into a Power Purchase Agreement with the successful bidder for 25 years.
<a href="https://www.mercomindia.com/nuclear-power-corporation-epc-tender" target="_blank" rel="noopener">Nuclear Power Corporation of India has issued an engineering, procurement, and construction tender for a 1.7 MW grid-connected ground-mounted solar power project in</a> Gorakhpur, Haryana. The work must be completed within six months of receiving the work order. The contractor also must oversee the project’s operation and maintenance for five years. The last day to submit the bids is October 24, 2023. Bids will be opened the next day.
<a href="https://www.mercomindia.com/jharkhand-discom-procure-power-100-mw-floating-solar" target="_blank" rel="noopener">The Jharkhand State Electricity Regulatory Commission recently allowed the Jharkhand Bijli Vitran Nigam (JBVNL) to procure 100 MW of power from a floating solar power project to be installed</a> at the Getalsud dam in Ranchi to fulfill its renewable purchase obligation. The Commission added that JBVNL should procure power from the project at a ceiling price of ₹3.50 (~$0.042)/kWh or lower.
<a href="https://www.mercomindia.com/bhel-bids-90-mus-per-annum-round-the-clock-power" target="_blank" rel="noopener">Bharat Heavy Electricals has invited bids to procure 90 million units (MUs) per annum of round-the-clock  renewable power on a long-term basis. The procured power will be supplied</a> to the ex-bus periphery at the company units located in Haridwar (54 MUs), Bhopal (12 MUs), Trichy (12 MUs), and Hyderabad (12 MUs) on a long-term basis. The last date to submit the bids is September 30, 2023. Bids will be opened on October 2.
<a href="https://www.mercomindia.com/total-300-million-new-5050-joint-venture-adani-green" target="_blank" rel="noopener">TotalEnergies, a French oil and gas major, will invest $300 million to form a new 50:50 joint venture with Adani Green Energy. The Board of Directors of Adani Green Energy approved the execution</a> of the binding term sheet to be entered into between Adani Green Energy, Adani Green Energy Twenty-Three (AGE23L), and TotalEnergies.The purpose of the binding term sheet is to provide for further investment of $300 million by Total and modify certain terms of its investments in AGE23L.
<a href="https://www.mercomindia.com/lg-energy-solution-raises-1-billion-green-bonds" target="_blank" rel="noopener">Battery manufacturer LG Energy Solution has raised $1 billion through its inaugural global green bonds. The funds raised will be used to expedite investments in the company’s global battery</a> production network. The bond issuance consists of a three-year bond worth $400 million and a five-year bond valued at $600 million. 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.
<a href="https://www.mercomindia.com/green-power-cement-companies-power-mix" target="_blank" rel="noopener">Credit rating agency ICRA has projected that green power will account for approximately 40-42% of the total power mix of major cement companies in India by March 2025, a significant increase</a> from around 35% as of March 2023. ICRA anticipates that the proportion of blended cement in the portfolios of major cement companies will rise to 80-82% in the medium term, up from 77-79% in fiscal year 2023. Moreover, these companies are actively increasing the utilization of Portland Slag Cement within their blended cement offerings.

Daily News Wrap-Up: End of the Road for Polycrystalline Solar Modules?

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					</table>Researchers from the Indian Institute of Technology (<a href="https://www.iitj.ac.in/" target="_blank" rel="noopener">IIT Jodhpur</a>) have put forth a proposal to employ offshore wind farms as reliable power sources for meeting the cooling requirements of Nuclear Power Plants (NPPs).
The study, conducted at the Madras Atomic Power Station in Chennai, showcases the applicability of this strategy to enhance the seismic resilience of NPPs.
The findings of this research have been published in the Nuclear Engineering and Design Journal.
The proposed methodology comprises several stages, including estimating the coolant power requirements, designing offshore wind turbines and infrastructure, and evaluating the seismic safety at the chosen offshore wind turbine site under various scenarios.
The approach was presented by Pradeep Kumar Dammala, Assistant Professor in the Department of Civil and Infrastructure Engineering at IIT Jodhpur, and Sumaja Kolli,  Scholar in the same department, in collaboration with researchers from the <a href="https://www.surrey.ac.uk/" target="_blank" rel="noopener">University of Surrey</a> in the United Kingdom, <a href="https://www.tsinghua.edu.cn/en/" target="_blank" rel="noopener">Tsinghua University</a> in China, and the Institute of Engineering Mechanics, China.
The case study conducted at the Madras Atomic Power Station in Chennai demonstrates the feasibility of implementing offshore wind farms to ensure sufficient cooling power during seismic events.
The study proposes the establishment of a 15 MW offshore wind farm equipped with three 5 MW turbines supported by monopile foundations in the Kalpakkam area.
Through state-of-the-art numerical models, the monopile foundations of the offshore wind turbines were analyzed considering soil nonlinearity and seismic liquefaction under anticipated dynamic loading conditions.
The results of nonlinear integrated seismic analyses indicated satisfactory seismic performance based on comparisons of monopile mudline displacements and bending moments.
Highlighting the future scope of the research, the authors of the study emphasized the importance of bolstering the safety of nuclear structures, given India&#8217;s pursuit of nuclear energy development and the proximity to seismic and tsunami threats.
The research was funded by the UK India Education Research Initiative (<a href="http://www.ukieri.org/" target="_blank" rel="noopener">UKIERI</a>) and the Commonwealth Scholarship Commission.
In November last year, a Danish-Indian collaborative study aimed to support India’s 30 GW offshore wind target by 2030 <a href="https://www.mercomindia.com/india-denmark-study-identifies-offshore-wind-sites" target="_blank" rel="noopener">identified</a> fifteen zones for the first offshore wind development project.
In a recent report, the Central Electricity Authority <a href="https://www.mercomindia.com/cea-solar-capacity-surpass-thermal-2030" target="_blank" rel="noopener">estimated</a> that India’s installed wind capacity would reach 100 GW and nuclear capacity 15.5 GW by the financial year 2029-30.

IIT Jodhpur Proposes Offshore Wind Farms to Cool Nuclear Plants

Here are some noteworthy cleantech announcements of the day from around the world:
Adani Power Limited, IHI Corporation, and Kowa Company have <a href="https://www.adanipower.com/newsroom/media-releases/Adani-Power-sustainable-power-generation" target="_blank" rel="noopener">signed</a> a memorandum of understanding (MoU) to study the feasibility of a modification to achieve the de-carbonization of APL’s coal-fired assets. The studies aim to find a method to achieve a 20% liquid ammonia co-firing ratio and further extend it up to 100% mono-firing at the Adani Power Mundra Coal-Fired Power Plant. The companies aim to work towards potentially implementing the technology in other coal-fired units within India.
Ola Electric <a href="https://olacabs.com/media/in/press/ola-electric-makes-strategic-investment-in-storedot" target="_blank" rel="noopener">announced</a> its investment in an Israeli battery technology company StoreDot, to help the company get access to StoreDot’s XFC battery technology that charges a battery from 0 to 100% in just five minutes. Ola Electric is working towards ramping up its core R&amp;D in advanced cell chemistry &amp; manufacturing and other battery technologies and new energy systems. Ola will also have exclusive rights to manufacture batteries integrating StoreDot’s fast charge technology in India.
AGP Sustainable Real Assets (AGP), Singapore-based asset development and investment management group, and Hartree Partners, a global energy and commodities trading company, <a href="https://www.ampyrenergy.com/2022/03/22/agp-sustainable-real-assets-and-hartree-partners-announce-us-expansion-of-global-solar-partnership/" target="_blank" rel="noopener">announced</a> the launch of AMPYR Energy USA, the second joint venture between the two organizations. AMPYR Energy USA will be headquartered in New York and target to build a 5GW utility-scale solar platform across multiple U.S. markets.
JinkoSolar&#8217;s subsidiary Jiangxi Jinko <a href="https://ir.jinkosolar.com/news-releases/news-release-details/jinkosolars-subsidiary-jiangxi-jinko-signs-project-investment" target="_blank" rel="noopener">signed</a> a Project Investment Cooperation Framework agreement for a 30 GW monocrystalline silicon pull rod project in Qinghai, China. The agreement was signed with Qinghai Provincial Department of Industry and Information Technology, Xining Municipal Government, and Xining Economic and Technological Development Zone Management Committee with a total estimated investment is approximately RMB10 billion (~$1.56 billion).
LG Energy Solution (LGES) <a href="https://www.michiganbusiness.org/press-releases/2022/03/whitmer-announces-1200-new-jobs-from-lg-energy-solutions-$1.7-billion-investment-expansion-holland/?utm_source=linkedin&amp;amp;utm_medium=social&amp;amp;utm_campaign=medc-whitmer-announces-lges-holland-investment-pr" target="_blank" rel="noopener">announced</a> an investment of $1.7 billion to help expand its battery manufacturing facility in Holland, Michigan, creating 1,200 jobs. LG Energy Solution, formerly known as LG Chem Michigan, manufactures large lithium-ion polymer battery cells and packs for electric vehicles. The company has had a presence in Holland since 2010 when it built its first EV battery plant in the U.S. and now has 1,495 employees in Michigan.

Daily News Wrap-Up: Adani Power Looks at De-Carbonizing its Coal-Fired Assets

Renewable energy generation in India is on the rise. As of March 31, 2017, renewable energy sources accounted for 17.5 percent of all power generated in India. The country’s total installed power generation capacity was 326,848.54 MW with renewables accounting for 57,260.23 MW.
At the end of the fiscal year (FY) 2015-16, cumulative renewable energy installations were 42,726.49 MW, which constituted 14.15 percent of the total energy mix. Installations for the year grew substantially, increasing their share by 3.37 percent.
Hydro power makes up 13.61 percent with 44,478.42 MW of the total power generated in the country. In the previous financial year, hydro made up 14.17 percent with 42,783 MW of the total power generated.
The cumulative installed capacity of small hydro has increased slightly with 4,379.85 MW of total installed capacity. The share of small hydro in the energy mix has dropped by 0.08 percent from FY 2015-16.
Nuclear power has a total capacity of 6,780 MW and makes up 2.07 percent of the energy generation, up from 5,780 MW in the previous financial year.
<a href="https://mercomindia.com/wp-content/uploads/2017/07/India_Power_Mix_Mar_2017.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-5542 size-full" src="https://mercomindia.com/wp-content/uploads/2017/07/India_Power_Mix_Mar_2017.png" alt="" width="600" height="357" srcset="https://cms.mercomindia.com/wp-content/uploads/2017/07/India_Power_Mix_Mar_2017.png 600w, https://cms.mercomindia.com/wp-content/uploads/2017/07/India_Power_Mix_Mar_2017-300x179.png 300w" sizes="(max-width: 600px) 100vw, 600px" /></a>
The solar sector is witnessing installations at a rapid pace and had the largest gain in share with ~5.5 GW of installations in FY 2016-17. Solar accounts for 12,288.83 MW of the total installed capacity which represents 3.76 percent of the overall power generation. The installed capacity of solar has almost doubled from 6,762.85 MW in the previous financial year. Solar recorded the largest increase with its share rising from 2.24 percent at the end of FY 2015-16 to 3.76 percent as of March 31, 2017, an increase of 1.52 percent.
<a href="https://mercomindia.com/wp-content/uploads/2017/07/India_Growth_in_Share_of_Energy_Sources.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-5541 size-full" src="https://mercomindia.com/wp-content/uploads/2017/07/India_Growth_in_Share_of_Energy_Sources.png" alt="" width="527" height="342" srcset="https://cms.mercomindia.com/wp-content/uploads/2017/07/India_Growth_in_Share_of_Energy_Sources.png 527w, https://cms.mercomindia.com/wp-content/uploads/2017/07/India_Growth_in_Share_of_Energy_Sources-300x195.png 300w" sizes="(max-width: 527px) 100vw, 527px" /></a>
The wind sector recently implemented competitive bidding process to develop wind power projects of 1,000 MW at a record low tariff, giving a boost to future wind auctions and installations. Wind currently accounts for 32,279.77 MW of the total installed capacity and 9.88 percent of overall power generation. At the end of the FY 2015-16, wind energy comprised 8.86 percent of the cumulative energy mix with installed capacity of 26,743.31 MW. Wind’s share has risen by 1.02 percent as of March 2017.
India’s energy sector is undergoing a steady transformation. Renewable energy capacity addition is rising while thermal power’s share is gradually declining. For the first time ever, the percentage of coal (thermal) in India’s energy mix has gone below 60 percent even though nearly 7 GW were installed in FY 2016-17. Coal’s share slumped the most, decreasing by 2.53 percent from 61.32 percent to 58.79 percent as of March 2017.
<a href="https://mercomindia.com/wp-content/uploads/2017/07/MNRE_RE_Installations_Mar_2017.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-5543 size-full" src="https://mercomindia.com/wp-content/uploads/2017/07/MNRE_RE_Installations_Mar_2017.png" alt="" width="940" height="240" srcset="https://cms.mercomindia.com/wp-content/uploads/2017/07/MNRE_RE_Installations_Mar_2017.png 940w, https://cms.mercomindia.com/wp-content/uploads/2017/07/MNRE_RE_Installations_Mar_2017-600x153.png 600w, https://cms.mercomindia.com/wp-content/uploads/2017/07/MNRE_RE_Installations_Mar_2017-300x77.png 300w, https://cms.mercomindia.com/wp-content/uploads/2017/07/MNRE_RE_Installations_Mar_2017-768x196.png 768w, https://cms.mercomindia.com/wp-content/uploads/2017/07/MNRE_RE_Installations_Mar_2017-650x166.png 650w, https://cms.mercomindia.com/wp-content/uploads/2017/07/MNRE_RE_Installations_Mar_2017-624x159.png 624w" sizes="(max-width: 940px) 100vw, 940px" /></a>
According to the recently released <a href="http://bit.ly/MercomQ12017IndiaSolar" target="_blank" rel="noopener noreferrer">Q1 India Solar Market Update</a>, Mercom forecasts 2017 solar installations to reach approximately <a href="http://bit.ly/mercomindpr1q17" target="_blank" rel="noopener noreferrer">10 GW</a>, a ~130 percent increase year-over-year compared to 4.3 GW installed in 2016 as India becomes one of the top solar markets in the world after China and the United States.

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