Hartek Bags ₹1.38 Billion Substation Contract from PGCIL in Karnataka

Jharkhand Commission Issues Draft Regulations to Determine Solar Tariffs

Senate Passes Budget Bill Without Excise Tax on Wind and Solar Projects

Prostarm, Hindustan Power, Barbrik Among Winners in Bihar’s 500 MWh BESS Auction

SJVN Tenders 1 MW Rooftop Solar Project in Arunachal Pradesh

SJVN Green Floats EPC Tender for 951 MW Solar Projects in Maharashtra

Daily News Wrap-Up: CERC Eases Land Documentation Norms for ISTS Connectivity

Funding and M&A Roundup: Clearway Secures Over $1 Billion

Project Finance Brief: Luxcara Acquires 520 MW Battery Storage Project in Germany

Madhya Pradesh Emerges as a Key Market for Solar Open Access

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					</table><a href="https://www.mercomindia.com/sjvn-green-connected-wind-solar-hybrid-projects" target="_blank" rel="noopener">SJVN Green Energy, a subsidiary of SJVN, has invited bids to select developers to set up 1,500 MW of Interstate Transmission System (ISTS)-connected wind and solar hybrid power projects in India.</a> The last date for submitting bids is March 19, 2024. Bids will be opened on March 20. Bidders have to submit ₹29,500 (~$356) as the cost of the tender document and ₹1.5 million (~$18,108) +18% GST as the bid processing fee. Bidders have to submit an earnest money deposit of ₹1.22 million (~$14,799.6)/MW of the quoted capacity.
<a href="https://www.mercomindia.com/government-pilot-green-hydrogen-shipping" target="_blank" rel="noopener">The Ministry of New and Renewable Energy has said the government has greenlit pilot projects aimed at decarbonizing the shipping sector using green hydrogen under the National Green</a> Hydrogen Mission. The program aims to support the deployment of green hydrogen and its derivatives as fuel for ship propulsion and develop bunkering and refueling facilities at ports. It has an outlay of ₹1.15 billion (~$13.9 million) until the financial year 2025-26.
<a href="https://www.mercomindia.com/ntpcs-renewable-arm-wind-solar-hybrid-power" target="_blank" rel="noopener">NTPC Renewable Energy, a wholly-owned subsidiary of NTPC, has invited bids for the selection of hybrid power generators for the supply of 1,000 MW power from ISTS-connected wind-solar hybrid</a> projects anywhere in India under Tranche-V. Projects with or without an energy storage system are eligible to participate in the bid and must be set up on a build-own-operate basis.
<a href="https://www.mercomindia.com/ev-leasing-firm-electrifi-secures-funding" target="_blank" rel="noopener">Commercial electric vehicle (EV) leasing and asset management company Electrifi Mobility secured ₹250 million (~$3.02 million) in seed-stage funding led by Asian Development Bank Ventures,</a> AdvantEdge Founders, and others. The funding will help Electrifi scale up asset deployment, expand asset refurbishment service infrastructure, and fuel its plans to cover new cities. The company said it aims to deploy over ₹5 billion ($6 million) in commercial EV assets over the next three years, which will include electric two and three-wheelers, cars, light and heavy commercial vehicles.
<a href="https://www.mercomindia.com/scatec-q4-profit-solar-asset-sales-divestments" target="_blank" rel="noopener">Norway-based independent power producer Scatec reported a net profit of NOK724 million (~$70 million) in the fourth quarter of 2023, improving from a loss of NOK433 million (~$41.5 million)</a> a year ago, as the company executed various asset sales in the quarter to streamline its operations. The company owns and operates solar, wind, hydro, green hydrogen, and battery energy storage projects across the globe.
<a href="https://www.mercomindia.com/adb-%E2%82%B912-5-billion-currency-bond-finance-green-projects" target="_blank" rel="noopener">The Asian Development Bank has raised ₹12.5 Billion (~$150 million) through green bonds, making it the largest Indian rupee bond to date.</a> The proceeds from this bond will be used to finance ADB’s private-sector renewable energy projects and for green financing. Listed on the Luxembourg Stock Exchange at a fixed interest rate of 6.72% annually, this four-year currency-linked bond has a bullet repayment at maturity. While denominated in Indian rupees, the bonds will be settled in United States dollars with returns to investors indexed against the rupee’s performance.
<a href="https://www.mercomindia.com/germanys-oversubscribed-by-a-record-240" target="_blank" rel="noopener">Germany’s auction to install 1.61 GW of ground-mounted solar photovoltaic systems was oversubscribed by 240%, setting a new record, according to data released by the federal network</a> agency Bundesnetzagentur. The auction received 574 bids, the highest ever, with a volume of 5,485 MW, the largest ever for a ground-mounted solar auction. A total of 124 bids with a volume of 1,613 MW were accepted. The bids quoted in the auction ranged from €0.0444 (~$0.043)/kWh to €0.0547 (~$0.054)/kWh and were below the ceiling tariff of €0.0737 (~$0.076)/kWh.
<a href="https://www.mercomindia.com/extreme-weather-in-a-small-but-significant-way" target="_blank" rel="noopener">Climate change-induced extreme weather events like hail, flooding, and high winds are accelerating solar module damage above certain thresholds, causing greater long-term losses in system</a> performance, according to researchers from the National Renewable Energy Laboratory. Researchers compared photovoltaic system performance against the National Oceanic and Atmospheric Administration’s weather maps and studied how performance was affected when extreme events occurred within 10 kilometers of the systems.
<a href="https://www.mercomindia.com/oxford-pv-for-its-perovskite-solar-modules" target="_blank" rel="noopener">UK-based solar cell manufacturing company Oxford PV, in collaboration with the Fraunhofer Institute for Solar Energy Systems, has reported a 25% conversion efficiency for its perovskite solar modules.</a> The company said that its silicon perovskite tandem solar modules delivered an output of 421 watts on an area of 1.68 square meters, making it one of the most efficient modules in the industrial format.

Daily News Wrap-Up: SJVN Tenders 1.5 GW Wind-Solar Hybrid Projects

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					</table>UK-based solar cell manufacturing company <a href="https://www.oxfordpv.com/" target="_blank" rel="noopener">Oxford PV</a>, in collaboration with the Fraunhofer Institute for Solar Energy Systems (<a href="https://www.ise.fraunhofer.de/en.html" target="_blank" rel="noopener">ISE</a>), has reported a 25% conversion efficiency for its perovskite solar modules.
The company said that its silicon perovskite tandem solar modules delivered an output of 421 watts on an area of 1.68 square meters, making it one of the most efficient modules in the industrial format.
&#8220;Our record-breaking solar panels demonstrate that we are on the cusp of the next solar revolution, which will be delivered, in part, by our tandem cell technology,&#8221; said Chris Case, the chief technical officer at Oxford PV.
The researchers used equipment at Fraunhofer ISE&#8217;s Module-TEC that is already used in mass production and optimized the processes for the tandem technology.
For the calibrated measurements, CalLab PV Modules used a multispectral solar simulator to verify the module efficiency. To make precise statements about the tandem module&#8217;s power, the perovskite and the silicon cell layers were illuminated by different LED light sources under conditions as close as possible to the conditions they would be installed to generate electricity.
&#8220;It is the first step in what will be a transformative 2024 as we begin to deliver market-ready panels from our factory in Germany and continue our global search for a new high-volume manufacturing site that will enable us to bring our technology into the mainstream,&#8221; said David Ward, the company&#8217;s Chief Executive Officer.
In March 2023, the company <a href="https://www.mercomindia.com/oxford-pv-sets-new-commercial-sized-solar-cell" target="_blank" rel="noopener">reported</a> a new world record when it achieved conversion efficiency of 28.6% for a commercial-sized solar cell. The company has plans to take this technology beyond 30% efficiency.
This year, the company aims to scale up manufacturing and accelerate its plans for a new factory that will produce a higher volume of tandem solar cells.
A spin-out of the University of Oxford, the company focuses exclusively on developing and commercializing a perovskite-based solar technology. A research and development site in Oxford, UK, and an integrated production line near Berlin, Germany, enable the accelerated transfer of its technology into industrial-scale perovskite-on-silicon tandem solar cell manufacturing.
Earlier this year, a team at the University of Michigan <a href="https://www.mercomindia.com/bulky-molecules-perovskite-solar-last-longer" target="_blank" rel="noopener">found</a> that when perovskites are combined with bulky additives such as silicon-based semiconductors, they can last longer.
Hong Kong-based researchers also <a href="https://www.mercomindia.com/researchers-boost-thermal-robustness-perovskite" target="_blank" rel="noopener">developed</a> a method to increase the thermal robustness of these cells, making them more commercially viable.

Oxford PV Reports Record 25% Efficiency for its Perovskite Solar Modules

Researchers at <a href="https://www.oxfordpv.com/" target="_blank" rel="noopener">Oxford PV</a>, an Oxford University spin-off company, have asserted that combining metal halide perovskites with conventional silicon could overcome the 26% efficiency limit of solar cells made with only silicon.
The researchers said that the addition of perovskites onto existing silicon photovoltaics is the fastest way to enhance the performance of silicon. Perovskites satisfied all optoelectronic requirements for a solar cell and could be manufactured with existing processes. These properties make perovskite perfect plug-and-play as it could be deposited as a layer onto a traditional silicon solar cell.
The research report stated that the elemental composition of perovskites materials is available within the existing supply chain that provides a way to scale up the technology quickly for meeting the ambitious solar energy targets required to tackle climate change.
In addition, the higher power output of perovskite on silicon tandem cells could reduce the carbon footprint embodied in the production of silicon required for solar cells.
The researchers aim to start mass commercial production of the new technology at its manufacturing facility in Brandenburg, Germany.
The lead author of the report Laura Miranda Perez said, “We identified perovskites as the perfect partner for a tandem system with silicon. We are providing the potential of perovskite-on-silicon tandem technology through the continuous achievement of world-record efficiencies, with our current record at 29.52%.”
“We want to help people understand the potential of perovskite-on-silicon tandem technology to boost the efficiency of solar installations and to help the world reach the goal of providing sustainable energy for all,” Perez added.
Oxford PV is a spinoff of Oxford University and a developer of thin-film perovskite solar cell technology. The company has raised $133 Million in VC funding to date, according to Mercom Capital Group’s Solar Funding and M&amp;A <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">Report</a>.
In January 2021, Oxford PV <a href="https://mercomindia.com/oxford-record-efficiency-perovskite-solar/" target="_blank" rel="noopener">announced</a> a new record efficiency of 29.52% for its perovskite silicon tandem solar cell. This record efficiency was certified by the National Renewable Energy Laboratory of the United States. To achieve higher efficiency, the researchers used the technology of coating a thin film of perovskite material on ordinary silicon solar cells to better use photons across the solar spectrum.
Earlier, it had <a href="https://mercomindia.com/oxford-pv-sets-record-perovskite-solar-cells/" target="_blank" rel="noopener">achieved</a> a 27.3% conversion efficiency for its 1 cm2 perovskite-silicon tandem solar cell. The Fraunhofer Institute for Solar Energy Systems (ISE) had certified this finding.
Image credit: Oxford PV

Pairing Metal Halide Perovskites with Silicon Solar Cell Could Enhance Cell’s Efficiency

<a href="https://www.oxfordpv.com/" target="_blank" rel="noopener noreferrer">Oxford PV</a>, an Oxford University spin-off company, announced a new record efficiency of 29.52% for its perovskite silicon tandem solar cell. This record efficiency has been certified by the National Renewable Energy Laboratory of the United States.
The company said conventional silicon solar cells that are utilized on millions of households globally have an average conversion efficiency of 15-20% and a maximum conversion efficiency of around 26%.
To develop the tandem solar cell, the researchers at Oxford PV utilized the technology that involves coating a thin film of perovskite material on ordinary silicon solar cells to better use photons across the solar spectrum.
The synthetic perovskite material can completely replace silicon as it is sustainable and affordable. Moreover,  35 kilograms of perovskite materials can produce the same amount of energy as seven tons of silicon, Oxford PV said in a press release.
The company said it has a clear roadmap to push the technology beyond 30% of conversion efficiency. It is also expected to begin the sale of its next-generation solar cell to the public in 2022. It designed the initial products for residential rooftops, which would produce 20% more energy from a similar number of solar cells.
“Our solar cells and modules not only demonstrate record efficiency but have passed externally measured industry-standard reliability tests from the International Electrotechnical Commission,” said Chris Case, Chief Technology Officer of Oxford PV.
According to Oxford PV, solar energy is anticipated to provide 50% of global power generation by 2050 and will play a significant role in the decarbonization of the global energy supply.
In August 2020, researchers at Fraunhofer Institute for Solar Energy Systems ISE had <a href="https://mercomindia.com/fraunhofer-institute-reports/" target="_blank" rel="noopener noreferrer">announced</a> a new record efficiency of 25.9% for the III-V/Si tandem solar cell grown directly on silicon.
Mercom had earlier <a href="https://mercomindia.com/new-perovskite-cigs-tandem-cell-efficiency/" target="_blank" rel="noopener noreferrer">reported</a> that scientists at Helmholtz Zentrum Berlin developed tandem cells that combine two different semiconductors and convert other light spectrum parts into electrical energy. That perovskite CIGS tandem cell had achieved a record efficiency of 24.16%.
Image credit: Oxford PV

Oxford PV’s New Record Efficiency of 29.52% for Perovskite Silicon Tandem Solar Cells

Oxford PV, a perovskite solar technology company, <a href="https://www.oxfordpv.com/news/oxford-pv-sets-world-record-perovskite-solar-cell" target="_blank" rel="noopener">announced</a> that it achieved a 27.3 percent conversion efficiency for its 1 cm2 perovskite-silicon tandem solar cell. The Fraunhofer Institute for Solar Energy Systems (ISE) certified this finding. Prior to this, the best efficiency recorded for a single-junction silicon solar cell in the world was 26.7 percent.
“This result further validates the ability of perovskite to enhance the performance of silicon-based photovoltaics. Continuing to improve the performance of photovoltaics is fundamental for sustaining the growth of solar generated electricity,” said Frank P. Averdung, CEO of Oxford PV.
If the above recent progress is any indication, perovskite technology has raised the hope for its commercial manufacturing in the near future. Oxford PV is already in the process of bringing its technology from the lab to high volume manufacturing. It is producing commercial sized 156 mm x 156 mm perovskite-silicon solar cells for validation at its industrial pilot line in Germany.
Chris Case, the chief technology officer at Oxford PV said “We are continuing to push our perovskite-silicon solar cell technology with a roadmap that extends beyond 30 percent efficiency, driving the world towards an all-electric future. Oxford PV counts on the support of development partners, suppliers and customers to deliver its perovskite solar technology.”
According to Mercom’s <a href="http://store.mercom.mercomcapital.com/product-category/solar-reports/" target="_blank" rel="noopener">Solar Funding and M&amp;A Reports</a>, the company a spinoff of Oxford University has raised over $70 million in VC Funding so far since 2011.
<a href="https://mercomindia.com/funding-falls-global-solar-sector/" target="_blank" rel="noopener">Earlier, Mercom reported that in Q1 of 2018, global VC funding</a> for the solar sector came to $161 million in 22 deals. Total corporate funding (including venture capital funding, public market, and debt financing) in the solar sector in Q1 2018 fell 65 percent to $2 billion from the $5.7 billion raised in Q4 2017.
Image credit: Oxford PV

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