CMPDI Invites Bids for 10 MW Solar Project at Mahanadi Coalfields

RERC Upholds Penalty for Failure to Comply with Renewable Energy Regulations

Hyundai to Source 118 MW Power from Fourth Partner’s Solar and Wind Projects

India Adds an Unprecedented 16 GW Solar Capacity in 9M 2024

Daily News Wrap-Up: UPNEDA Tenders 2 MW Rooftop Solar Projects

Maxeon Solar Modules Detained by US Customs Authority

Sungrow, TBEA, FIMER Dominate Solar Inverter Rankings in First Half of 2024

ReNew’s Revenue, Profit Up in Q2 FY25 as Commissioned Renewable Capacity Grows

MNRE Sets Terms for Real Estate Developers to Avail CFA Under PM Surya Ghar

ENGIE to Build 22 MW Solar Project for Saudi Cement Factory


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2023/03/amazon_polly_50317.mp3?version=1678077650">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://mercomindia.com/delay-almm-restricts-module-supplies/" target="_blank" rel="noopener"><strong>Even as the industry awaits official order on lifting the Approved List of Models and Manufacturers (ALMM) mandate for developers due to the lack of domestic solar module capacity</strong></a>, its role in delaying the enlistment of new models and manufacturers has been causing a supply bottleneck. According to the updated ALMM, the total capacity listed is approximately 21 GW and includes 83 module manufacturers.</p>
<p><a href="https://mercomindia.com/gqg-partners-invests-adani-companies/" target="_blank" rel="noopener"><strong>United States-based equity investment firm GQG Partners has closed a major deal involving a series of secondary block trade transactions amounting to ₹154.46 billion (~$1.87 billion) in the Adani</strong></a> Portfolio companies. The investments include ₹54.6 billion (~$663.21 million) in Adani Enterprises for 38.7 million shares at a price of ₹1,410.86 (~$17.14) per share. Adani Ports and Special Economic Zone received ₹52.82 billion (~$641.59 million) for 88.6 million shares at a price of ₹596.2 (~$7.24) per share.</p>
<p><a href="https://mercomindia.com/adani-operating-portfolio-crosses-8-gw/" target="_blank" rel="noopener"><strong>Adani Green Energy Ltd (AGEL), the renewables arm of the Adani Group, said its fourth wind-solar hybrid power project has become fully operational at Jaisalmer in Rajasthan</strong></a>. With the operationalization of the 700 MW plant, Adani Green now has the largest operating renewable portfolio in India with 8,024 MW. The plant is housed under AGEL’s 100% subsidiary, Adani Hybrid Energy Jaisalmer Four Limited. The hybrid power project has a power purchase agreement at a tariff of ₹3.24/kWh for 25 years.</p>
<p><a href="https://mercomindia.com/soltec-profit-surges-2022/" target="_blank" rel="noopener"><strong>Solar tracker maker Soltec Power Holdings recorded a net profit of €13.1 million ($14 million) in financial year (FY) 2022, a year-over-year (YoY) increase of 1191% compared to the net loss</strong></a> of €1.2 million (~$1.3 million) in FY21. The profit was driven by solid demand for trackers and the company’s measures to mitigate industry disruptions. The company delivered a record 3.8 GW of trackers in 2022. It has supplied a total of 15.6 GW of trackers to date.</p>
<p><strong><a href="https://mercomindia.com/tusco-consultancy-tender-solar-park/" target="_blank" rel="noopener">TUSCO, a joint venture company of THDC India and the Uttar Pradesh New and Renewable Energy Development Agency , has invited bids from consultants to prepare a feasibility-cum-detailed project report</a></strong> to develop an 800 MW ultra-mega solar power park in Chitrakoot, Uttar Pradesh. The final feasibility report must be submitted within 90 days of receiving the work order. The estimated work cost is ₹5.43 million (~$66,024). The last day to submit the bids is March 29, 2023. Bids will be opened the next day.</p>
<p><a href="https://mercomindia.com/greenko-700-million-pumped-storage/" target="_blank" rel="noopener"><strong>Renewable energy company Greenko Group announced the signing of definitive agreements for a primary equity raising of US$ 700 million from affiliates of Singapore’s sovereign wealth fund GIC, ORIX Corporation, and a wholly owned subsidiary of the Abu Dhabi Investment Authority</strong></a>. Greenko said that it would use the funds raised to accelerate its decarbonization efforts through the supply of carbon-free energy. The company will use the $700 million investment towards the capital expenditure of pumped storage projects which will have a storage capacity of more than 25 GWh, enabling 45 billion units of dispatchable carbon-free energy.</p>
<p><a href="https://mercomindia.com/germany-wind-solar-tenders-undersubscribed/" target="_blank" rel="noopener"><strong>Germany’s recent offshore wind energy auction for 3.21 GW has received interest for only less than half (1.5 GW) of the capacity on offer, according to the Federal Network Agency (Bundesnetzagentur</strong></a><strong>)</strong>. The auction received only 126 bids, while Bundesnetzagentur excluded seven bids due to procedural errors. The tariffs ​​quoted in the bids range between €0.0724 (~$0.077)/kWh and €0.0735 (~$0.078)/kWh. At €0.0743 (~$0.079)/kWh, the average quantity-weighted bid value is slightly below the newly defined maximum value.</p>
<p><a href="https://mercomindia.com/iron-ess-techs-q4-net-loss-narrows/" target="_blank" rel="noopener"><strong>Manufacturer of long-duration iron-flow batteries, ESS Tech, recorded a net loss of $25 million in the fourth quarter (Q4) of 2022, a year-on-year improvement of 86.12% compared to a $180.73 million loss during the corresponding period in 2021</strong></a>.The company said it continued to be challenged by supply throughout the year, which hindered its ability to fully achieve its delivery ambitions for the year, resulting in losses. However, it delivered 14 ‘Energy Warehouses’ in the fourth quarter. The company recorded $16,000 in revenue during the quarter compared to zero revenue generation in Q4 2021.</p>
<p><a href="https://mercomindia.com/meyer-burger-to-introduce-for-solar-modules/" target="_blank" rel="noopener"><strong>Switzerland-based engineering company Meyer Burger is planning to introduce a unified glass, glass-based product platform for its solar modules</strong></a><strong>.</strong> The modules designed under the platform will have optimized glass on the front and back. They will have enhanced bifaciality, a prominent attribute in heterojunction solar technology. The company said the products will come with increased durability, low weight, sustainably higher performance, and appealing aesthetics in black, white, and transparent variants.</p>
<p><strong><a href="https://mercomindia.com/australia-can-rival-china-for-renewables-sector/" target="_blank" rel="noopener">Australia can become a potential supply chain partner for the global renewables sector and an alternative to China, a report by think tank Climate Energy Finance has said</a></strong>. Australia houses minerals critical to renewable energy technologies in abundance and is the leading producer of unprocessed lithium. The country produces 79% of the world’s hard rock lithium, with its mineral exports projected to reach $16 billion in 2023. The country is the third largest exporter of cobalt and stands fourth in exporting mined copper, nickel, and rare earths.</p>
<p><strong><a href="https://mercomindia.com/perovskite-alkylammonium-26-08-efficiency/" target="_blank" rel="noopener">Researchers at South Korea’s Ulsan National Institute of Science and Technology have developed a perovskite solar cell by using alkylammonium chloride to control the formation of defects in the perovskite layer</a></strong><strong>.</strong> The researchers said when testing the film in a perovskite cell, it was found that it achieved a power conversion efficiency of 26.08%, which exceeds the efficiency of silicon solar cells. When tested by NREL experts, the device achieved a certified efficiency of 25.73%. The study “Controlled growth of perovskite layers with volatile alkylammonium chlorides” was recently published in Nature.</p>


Daily News Wrap-Up: ALMM Approval Delay Restricts Solar Module Supply


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2022/10/amazon_polly_43514.mp3?version=1666780508">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>French energy conglomerate <a href="https://totalenergies.com/" target="_blank" rel="noopener">TotalEnergies</a> and Brazil’s renewable energy developer Casa dos Ventos (<a href="https://casadosventos.com.br/en" target="_blank" rel="noopener">CDV</a>) announced the creation of a joint venture to develop, build, and operate the renewable portfolio of the Brazilian company.</p>
<p>TotalEnergies will hold 34% and CDV 66% shares in the JV. TotalEnergies said it would pay $550 million and up to $30 million in earn-out to complete the acquisition. The French company will have the option to acquire an additional 15% equity share in the JV after five years.</p>
<p>The portfolio comprises 700 MW of operational onshore wind capacity, 1 GW of onshore wind under construction, 2.8 GW of onshore wind, and 1.6 GW of solar projects, which will begin commercial operation within five years.</p>
<p>The JV is poised to jointly foster its growth by accessing an additional portfolio of at least 6 GW that Casa dos Ventos will continue to expand.</p>
<p>Chairman and CEO of TotalEnergies Patrick Pouyanne observed, “After Adani Green in India and Clearway in the United States, I am delighted with this new major partnership in Brazil with Casa dos Ventos, the leader in onshore wind energy. With a total of 12 GW in operation, construction, and development, both wind and solar, this transaction is an additional step in TotalEnergies’ ambition to reach 100 GW of renewable production by 2030 and in its transformation into a sustainable and profitable multi-energy company.”</p>
<p>CDV has developed 25% of the onshore wind assets in Brazil. It will help the JV with its deep knowledge of the Brazilian market and a high-quality portfolio while shifting from a developer to a producer business model.</p>
<p>In June this year, TotalEnergies <a href="https://mercomindia.com/totalenergies-stake-adani-group-green-hydrogen/" target="_blank" rel="noopener">announced</a> an agreement with Adani Enterprises to acquire a 25% interest in Adani New Industries Limited to produce and commercialize green hydrogen in India.</p>
<p>Founder and President of Casa dos Ventos Mario Araripe said, “In addition to its financial strength, TotalEnergies’ global footprint will contribute to the expansion of our client portfolio and enhance our knowledge in new fields of the energy transition. We are confident that this partnership positions us in a strategic role to lead the sustainable energy agenda in Brazil.”</p>
<p>Earlier this year, TotalEnergies <a href="https://mercomindia.com/totalenergies-eneos-partner-solar-capacityci-entities-asia/" target="_blank" rel="noopener">entered</a> a 50-50 partnership with Japanese petroleum company ENEOS to develop 2 GW of decentralized onsite solar capacity for commercial and industrial consumers in Asia until 2027.</p>


TotalEnergies and Brazil’s CDV to Develop 12 GW of Renewable Energy Projects

<p>Canada-based renewable energy investor Brookfield Renewable, along with its institutional partners, announced its entry into a definitive agreement with <a href="https://www.exeloncorp.com/companies/exelon-generation" target="_blank" rel="noopener noreferrer">Exelon Generation Company</a>.</p>
<p><a href="https://www.brookfield.com/our-businesses/renewable-power?redirect=www.brookfieldrenewable.com" target="_blank" rel="noopener noreferrer">Brookfield Renewable</a> will acquire a distributed generation development platform comprising 360 MW of operating distributed solar assets across nearly 600 sites throughout the U.S. with an additional 700 MW in the pipeline.</p>
<p>The portfolio is contracted under long-term PPAs, and Brookfield Renewable intends to leverage its scale and operating and commercial capabilities to drive additional value.</p>
<p>Connor Teskey, chief executive officer (CEO) of Brookfield Renewable, said, “Today, we are owners of one of the leading distributed generation businesses in the U.S., with deep operating, development and origination capabilities, and an approximately 2 GW portfolio that generates high-quality contracted cash flows that are diversified by geography and customer. This investment represents the continuation of this strategy and furthers our goal of partnering with corporates and other institutions to help them achieve their decarbonization objectives.”</p>
<p>The total purchase price of the portfolio is expected to be approximately $810 million. The transaction is subject to customary closing conditions and is expected to close in the first half of 2021.</p>
<p>Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, solar, and storage facilities in North America, South America, Europe, and Asia, and totals over 19 GW of installed capacity and an 18 GW development pipeline.</p>
<p>In August 2020, Brookfield Renewable had announced that it would <a href="https://mercomindia.com/brookfield-to-issue-green-bonds/" target="_blank" rel="noopener noreferrer">issue</a> green bonds to the tune of CDN$ 425 million (~$321 million). These medium-term notes would bear an interest of 3.3% per year, due on August 13, 2050.</p>
<p>Emami Group, an India-based conflomerate also recently <a href="https://mercomindia.com/emami-group-sells-solar-segment-brookfield/" target="_blank" rel="noopener noreferrer">sold</a> its solar power business to Brookfield Asset Management through a 100% stake sale in June 2020. The Emami Group had 11 MW of solar power projects in Karnataka, 10 MW at Charanka Solar Park, Gujarat, 3.3 MW of solar power project in the Ramanathapuram district of Tamil Nadu, and a 22.5 MW solar power project in the Haridwar district of Uttarakhand.</p>
<p>&nbsp;</p>
<p>Image credit: WiNG, CC BY-SA <a href="https://creativecommons.org/licenses/by-sa/3.0" target="_blank" rel="noopener noreferrer">3.0</a>, via Wikimedia Commons</p>


Brookfield Renewable Acquires 360 MW of Distributed Solar Assets for $810 Million

renewable-portfolio

Get the most relevant India solar and clean energy news.

RECENT POSTS