Reliance Acquires REC Solar Holding for $771 Million
Reliance New Energy Solar, a wholly-owned subsidiary of Reliance Industries, has acquired REC Solar Holdings from China National Bluestar Group for $771 million. REC is a Norway-headquartered solar cell, modules, ...
IEX’s Green-Term Ahead Market Traded 1.68 BU in Q3 2021
The Indian Energy Exchange (IEX) traded 1.68 billion units (BU) of renewable energy in the third quarter (Q3) of the calendar year (CY) 2021. The exchange traded 8.99 BU of ...
Daily News Wrap-Up: Germany to Contribute €100 Million for Sustainable Energy in Africa
Here are some noteworthy cleantech announcements of the day from around the world: Germany will contribute €100 million (~$115.45 million) to the African Development Bank's Sustainable Energy Fund for Africa ...
Daily News Wrap-Up: Emmvee to Set Up a 3 GW Solar Module and Cell Manufacturing Facility
Here are some noteworthy cleantech announcements of the day from around the world: Bangalore-based solar module manufacturer Emmvee has signed a memorandum of understanding (MoU) with the Karnataka government to ...
Renewable Energy Certificates to be Valid Until Sold – Power Ministry
The Union Minister of Power R K Singh has approved amendments to the renewable energy certificate (REC) mechanism. According to the new amendments, the REC will remain valid until it ...
Infrastructure Finance Company REC to Raise ₹850 Billion Through Bonds and Debentures
REC Limited, an infrastructure finance company involved in financing power projects, is seeking the approval of shareholders to raise ₹850 billion (~$11.63 billion) through the private placement of bonds or ...
Delhi Regulatory Commission Releases Renewable Purchase Obligation Guidelines
The Delhi Electricity Regulatory Commission has announced the ‘Renewable Purchase Obligation and Renewable Energy Certificate Framework Implementation Regulations, 2021.’ The regulations are effective from April 13, 2021. The rules govern ...
A Record 726 MU of Renewables Traded at IEX’s Green Term-Ahead Market in July
The Indian Energy Exchange (IEX) traded an all-time high volume of 726 MU of renewable energy in July 2021, a 76% month-over-month (MoM) increase compared to 412 MU in the ...
Captive Power Producers in Maharashtra Allowed Time to Clear RPO Backlog
The Maharashtra Electricity Regulatory Commission (MERC), in its recent order, allowed captive power producers to fulfill their renewable purchase obligation (RPO) backlog for the financial years (FY) starting 2015 to ...
Ministry of Power Releases Detailed Plan to Revamp DISCOMs
The Ministry of Power (MoP) has issued detailed guidelines for reform-based result-linked power distribution program over the next five years. The program aims to improve the quality and the reliability ...
IEX’s Green Term-Ahead Market Traded 412 MU of Green Energy in June 2021
The Indian Energy Exchange (IEX) traded 412 MU of green energy in June 2021 due to the ongoing wind season. This is a 15% increase compared to 357 MU traded in May ...
Punjab Issues Draft Regulations for Grid-Connected Rooftop Solar and Net Metering
The Punjab State Electricity Regulatory Commission (PSERC) has issued the draft Grid-Interactive Rooftop Solar Regulations, 2021. The regulations will come into force from the date of publication in the official ...
Four Union Territories and Goa Fail to Comply with Renewable Purchase Obligations
The Joint Electricity Regulatory Commission (JERC) has reviewed renewable purchase obligation (RPO) targets for 2020-21 based on the submitted data from the regions of its jurisdiction. According to the Commission's ...
REC Issues Owner’s Engineering Services Tender for 125 MW of Solar Projects
The REC Power Distribution Company Limited (RECPDCL), a wholly-owned subsidiary of REC Limited, has invited bids to select an owner's engineer for 125 MW of grid-connected solar projects. The tender ...
Power Grid Acquires Two Transmission Projects to Evacuate Solar Power in Rajasthan
State-owned power transmission company Power Grid Corporation of India (PGCIL) has acquired two transmission projects - Fatehgarh Bhadla Transco Limited and Sikar New Transmission Limited under Phase II, Part-B, and ...
REC’s Profits Surge 71% Year-Over-Year to ₹83.62 Billion in FY 2021
REC Limited has announced the consolidated financial results for the fourth quarter (Q4) and financial year (FY) 2021. REC's net profit surged by 71% in FY 2021 to ₹83.62 billion ...
APTEL Allows Transfer of RECs to New Owners of a Bagasse-Based Power Project
The Appellate Tribunal for Electricity (APTEL) passed an order directing the Power System Operation Corporation (POSOCO) and the Bihar Renewable Energy Development Agency to allow the registration and accreditation of ...
Haryana Imposes Charges and Caps on Renewable Energy Banking
The Haryana Electricity Regulatory Commission (HERC) has issued regulations for establishing tariffs from renewables, renewable purchase obligation (RPO), and renewable energy certificate (REC) for the financial year (FY) 2021-22 to ...
Haryana Releases Draft Solar Power Policy, Invites Suggestions
The New and Renewable Energy Department, Haryana, has issued the draft ‘Haryana Solar Power Policy, 2021,’ and requested government stakeholders to send their comments within 15 days from the date ...
Integrated Day Ahead Market Proposed in Exchanges for Conventional & Renewable Energy
The Ministry of Power (MoP) has decided to set up an integrated day-ahead market (DAM) at the power exchanges with separate price formation for power generated from renewable energy and ...
IEX’s Green Term-Ahead Market Trades Over 21 MU of Solar Power in March 2021
Driven by an increasing electricity demand across Indian states, the electricity market at the Indian Energy Exchange (IEX) witnessed an all-time high volume of 8,249 million units (MU) in March ...
Government-owned Power Financing Institutions Reduce Lending Rates
State-owned non-banking financial firms, Power Finance Corporation (PFC), and REC will reduce lending rates by up to 2% points from April 1, 2021. According to the PTI, the PFC said, ...
Maharashtra Regulator Denies Solar Developer’s Plea to Return Bank Guarantee
The Maharashtra Electricity Regulatory Commission (MERC) has dismissed ACME Solar's plea for the return of performance bank guarantee (PBG). It said that the power purchase agreement (PPA) specifies conditions for ...
REC Market Counting on RPO Compliance Deadline Extension Amidst Trading Halt
As the power market awaits the end of an over seven-month halt in the trading of renewable energy certificates (REC), stakeholders remain hopeful of a deadline extension from their respective ...
Renewables Portfolio Standard Policy Has Driven 45% of Capacity Addition in the U.S.
The non-hydro power renewable energy generation has advanced by 402 TWh since 2000 in the U.S., of which 189 TWh or 45% of overall growth is because of Renewables Portfolio ...
