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Explainer: Application Process for ALMM Inclusion and Renewal


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					</table><p><strong>From: <a href="https://mercomcapital.com/project-finance-brief-goldbeck-secures-solar-projects/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Goldbeck Solar, which specializes in the construction of industrial, commercial, and large-scale solar power projects, </strong><a href="https://mercomcapital.com/goldbeck-financing-for-solar-projects-netherlands/"><strong>concluded</strong></a><strong> €13 million (~$14.24 million) financing</strong> agreement with Triodos Bank for two ground-mounted solar photovoltaic power projects totaling 33.3 MW in the Netherlands. The Reimerswaal 1 Bathpolder solar project has a capacity of 10.81 MW, and the Reimerswaal 2 Krekragweg solar project has a capacity of 22.48 MW. Both projects are located in Rilland, Zeeland province, and are under construction.</p>
<p><strong>Statera Energy, a UK-based energy storage and flexible generation developer and operator, </strong><a href="https://mercomcapital.com/energy-storage-developer-statera-energy-secures-debt-funding/"><strong>secured</strong></a><strong> up to £300 million (~$377 million) in debt financing</strong> led by Lloyds Bank. The first £144 million (~$180 million) of the financing will be used to deliver Statera’s 300 MW (~600 MWh) Thurrock Battery Energy Storage System (BESS). The balance will fund the development of a 270 MW flexible generation plant which secured a capacity market contract early this year. The BESS project, located near Greater London, is the first stage of Statera’s wider Thurrock development plans to begin construction.</p>
<p><strong>Summit Ridge Energy, a community solar project owner and operator, </strong><a href="https://mercomcapital.com/community-solar-firm-summit-ridge-energy-secures-275-million/"><strong>secured</strong></a><strong> $275 million from the global financial services company Mitsubishi</strong> and United Financial of Japan Group . The capital expands their existing partnership and will be used for project construction and term debt financing.</p>
<p><strong>Econergy, an Israel-based investor, developer, and operator of renewable energy projects, </strong><a href="https://mercomcapital.com/econergy-secures-66-million-for-solar-project-in-romania/"><strong>announced</strong></a><strong> the closing of a €60 million (~$65.7 million) funding</strong> round with Raiffeisen Bank International to support the construction of its 155 MW solar power project in Romania. The project, named Ratesti, is expected to be one of the largest solar projects in Romania. The project’s construction investment has totaled €102 million (~$112 million).</p>
<p><strong>France-based independent power producer Technique Solaire has </strong><a href="https://www.mercomindia.com/technique-solaire-buys-solar-projects-karnataka"><strong>acquired</strong></a><strong> five ground-mounted solar power projects with a combined capacity of 135.4 MW in Karnataka</strong> from ReNew Solar Power. The projects commissioned between October and November 2019 have secure tariffs owing to long-term power purchase agreements with electricity and gas distribution companies in Karnataka. The projects produce nearly 215 GWh of green electricity annually, equivalent to the Indian consumption of more than 922,000 people.</p>
<p><strong>Singapore-based renewable energy company Sembcorp Industries has </strong><a href="https://www.mercomindia.com/sembcorp-to-acquire-wind-assets-china-and-india"><strong>signed</strong></a><strong> agreements to acquire 428 MW of wind energy assets in China and India</strong> through its subsidiaries, Sembcorp Energy (Shanghai) Holding and Green Infra Wind Energy Limited (GIWEL). Sembcorp Energy (Shanghai) Holding is set to acquire 100% of the share capital in Qinzhou Yuanneng Wind Power. The move involves an equity consideration of approximately $130 million.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week&#8217;s project finance <a href="https://mercomcapital.com/project-finance-brief-hive-energy-sells-solar-projects/">brief</a>.</p>
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Project Finance Brief: Goldbeck Secures $14 Million Financing for Solar Projects


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					</table><p><strong><a href="https://mercomindia.com/seci-invites-bidders-for-from-renewable-projects/" target="_blank" rel="noopener">Solar Energy Corporation of India has invited bids to select renewable energy  developers to supply 1 GW firm and dispatchable power from Inter-State Transmission System (ISTS)-connected</a></strong> projects. The last date for the submission of bids is January 9, 2024. Bids will be opened on January 12. The developer is responsible for establishing ISTS-connected power projects, including the transmission network up to the interconnection/delivery points.</p>
<p><strong> </strong><strong><a href="https://www.mercomindia.com/uttar-pradesh-jal-nigam-solar-project" target="_blank" rel="noopener">Uttar Pradesh Jal Nigam has invited bids to commission a 10 MW grid-connected ground-mounted solar project at Bharwara STP Campus in Lucknow, Uttar Pradesh, on a turnkey basis.</a></strong> The estimated project cost is ₹623.67 million (~$7.5 million). The last day to submit the bids is December 26, 2023. Bids will be opened the next day. Bidders must submit an earnest money deposit of ₹6.24 million (~$74,844). Selected bidders must furnish a performance bank guarantee of 10% of the estimated project cost. Bidders must have completed three projects, each with a minimum of 30% capacity.</p>
<p><strong><a href="https://www.mercomindia.com/west-bengal-invites-bids-for-solar-project" target="_blank" rel="noopener">West Bengal State Electricity Distribution Company has floated a tender for three years of comprehensive operation and maintenance of 40 MW ground-mounted solar projects.</a></strong> The last date for the submission of bids is December 12, 2023. Bids will be opened the same day. The projects, each of 10 MW capacity, are located at Tail Race Canal, Haptiagachh in Uttar Dinajpur, along the Teesta Canal Bank in Uttar Dinajpur, in Salboni, Paschim Medinipur, and Khemasuli (Patni) in Medinipur. The project’s estimated cost is ₹ 54 million (~$647,639).</p>
<p><a href="https://www.mercomindia.com/round-the-clock-renewables-hydropower-r-k-singh" target="_blank" rel="noopener"><strong>The Ministry of Power will set up 13 hydroelectric projects in Arunachal Pradesh with a cumulative capacity of 13,000 MW in a bid to augment hydroelectric power capacity in the country.</strong></a> Emphasizing the importance of hydroelectric projects in achieving energy transition, Union Minister of Power and New &amp; Renewable Energy R K Singh said while India has solar and wind capacity, round-the-clock renewable energy is not possible without hydroelectricity. After reviewing the progress of the 2,000 MW Lower Subansiri hydroelectric project in Arunachal Pradesh, he said the 13 projects will involve an investment of ₹1.4 trillion (~ $1.68 billion).</p>
<p><a href="https://www.mercomindia.com/technique-solaire-buys-solar-projects-karnataka" target="_blank" rel="noopener"><strong>France-based independent power producer Technique Solaire has acquired five ground-mounted solar power projects with a combined capacity of 135.4 MW in Karnataka from ReNew Solar Power.</strong></a> The projects commissioned between October and November 2019 have secure tariffs owing to long-term power purchase agreements with electricity and gas distribution companies in Karnataka. The projects produce nearly 215 GWh of green electricity annually, equivalent to the Indian consumption of more than 922,000 people. With this acquisition, Technique Solaire operates 210 MW of renewable projects in India and 450 MW worldwide.</p>
<p><strong><a href="https://www.mercomindia.com/fdi-india-renewable-q2-fy24" target="_blank" rel="noopener">Foreign Direct investment (FDI) in India’s renewable energy sector saw a rise of 9% year-over-year (YoY) in the second quarter (Q2) of the financial year 2023-24.</a></strong> FDI in renewables stood at $504.08 million (~₹42.01 billion) in Q2 compared to $461.51 million (~₹38.26 billion) in the same quarter last year, according to Ministry of Commerce and Industry data. The amount was, however, down 31% quarter-over-quarter from $737.17 million (₹60.73 billion). The market segments that witnessed the most investment flow during the quarter were solar, pumped hydro storage, and wind projects, mostly through the automatic route.</p>
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Daily News Wrap-Up: SECI Invites Bids for 1 GW Power from Renewables


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					</table><p>France-based independent power producer <a href="https://techniquesolaire.com/en/home/" target="_blank" rel="noopener">Technique Solaire</a> has acquired five ground-mounted solar power projects with a combined capacity of 135.4 MW in Karnataka from <a href="https://www.renew.com/" target="_blank" rel="noopener">ReNew Solar Power</a>.</p>
<p>The projects commissioned between October and November 2019 have secure tariffs owing to long-term power purchase agreements with electricity and gas distribution companies in Karnataka.</p>
<p>The projects produce nearly 215 GWh of green electricity annually, equivalent to the Indian consumption of more than 922,000 people.</p>
<p>With this acquisition, Technique Solaire operates 210 MW of renewable projects in India and 450 MW worldwide. It intends to reach an operating capacity of over 350 MW by the end of 2025 in India and 1 GW worldwide.</p>
<p>&#8220;Thanks to this third acquisition in India in three years, we now have nearly 500 MW of solar projects in operation globally. We target reaching 1 GW in 2025, including more than 350 MW in India, and 4 GW in 2030, including 700 MW in India. We are especially proud to close this deal with ReNew, one of India&#8217;s major independent power producers. India has a huge potential for solar projects, and we will continue both to invest significant funds in this country in the coming years and to develop our local team that should exceed 15 employees within the next few months,” said Edouard Dazard, Chief Investment Officer at Technique Solaire.</p>
<p>Recently, Technique Solaire Group <a href="https://www.mercomindia.com/funding-and-ma-roundup-otovo-raises-41-million/" target="_blank" rel="noopener">raised</a> €200 million (~$215 million) from its financial shareholders, Bpifrance and Crédit Agricole group1, via its holding company JLT Invest. This funding round will enable the group to accelerate its growth in energy production activity, intensify its innovation strategy, and strengthen its international presence.</p>
<p>According to Mercom Capital Group’s <a href="https://mercomcapital.com/product/9m-q3-2023-solar-funding-ma-report/" target="_blank" rel="noopener">9M and Q3 2023 Solar Funding and M&amp;A Report</a>, 66 project acquisitions were made for 31.6 GW of solar projects during the nine months of 2023, compared to 207 acquisitions for 52.1 GW last year.</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/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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Technique Solaire Buys 135 MW Solar Projects in Karnataka from ReNew

<p>From: <a href="https://mercomcapital.com/project-finance-brief-globeleq-solar/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Globeleq, an independent power company in Africa, has </strong><a href="https://www.globeleq.com/blog/globeleq-acquires-egyptian-solar-plant/" target="_blank" rel="noopener"><strong>completed</strong></a><strong> the acquisition of the ARC for Renewable Energy S.A.E (ARC) 66 MW solar PV project </strong>located at the Benban Solar Park near Aswan, Egypt. The ARC plant was developed by the SECI Energia, Enerray, and Desert Technologies consortium as part of the second round of the Egyptian government’s feed-in-tariff program. It achieved commercial operation in November 2019 and provides clean electricity to the Egyptian Electricity and Transmission Company (EETC) under a 25-year power purchase agreement. The project was financed by the International Finance Corporation (IFC), Globeleq’s shareholder, CDC Group (CDC), the Asian Infrastructure Investment Bank, Europe Arab Bank, and Finance in Motion.</p>
<p><strong>France</strong><strong>-based solar developer Technique Solaire has </strong><a href="https://mercomindia.com/technique-solaire-acquires-solar-jakson-group/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> a 34 MW ground-mounted solar project in Uttar Pradesh from the Jakson Group and businessman Ravi Goyal. </strong>With this acquisition, Technique Solaire’s operational solar capacity in India reaches 68 MW. The project, commissioned in 2017, has a power purchase agreement (PPA) with Uttar Pradesh Power Corporation.</p>
<p><strong>The </strong><strong>Indian Renewable Energy Development Agency (IREDA) has </strong><a href="https://mercomindia.com/vector-green-11-billion-loan-ireda/" target="_blank" rel="noopener"><strong>disbursed</strong></a><strong> a loan of ~₹11 billion (~$146.43 million) to Vector Green Energy, a Mumbai-based independent power producer </strong>focused on solar and wind energy. IREDA said that it is the highest-ever disbursement to a single company in a day. It is also the highest single-day transaction for Vector Green Energy, the Indian green energy platform of Global Infrastructure Partners. The ₹11 billion (~$146.43 million) released of the total ₹13.82 billion (~$183.97 million) will be utilized for Vector Green’s six operational solar projects.</p>
<p><strong>Summit Ridge Energy (SRE), an owner-operator of community solar, has </strong><a href="https://www.prnewswire.com/news-releases/summit-ridge-energy-breaks-ground-on-44mw-maine-portfolio-acquisition-from-revision-energy-301398285.html" target="_blank" rel="noopener"><strong>begun</strong></a><strong> construction in Maine on the first of 13 projects acquired from Revision Energy.</strong> The community solar portfolio will total 44 MW and operate under the Maine NEB program. The projects are expected to reach commercial operation between 2022 and 2023.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s project finance <a href="https://mercomcapital.com/project-finance-brief-altus-power-solar-funding/" target="_blank" rel="noopener">brief</a>.</p>
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Project Finance Brief: Globeleq Acquires a 66 MW Solar Project in Egypt

<p>France-based solar developer <a href="https://www.techniquesolaire.com/en/" target="_blank" rel="noopener">Technique Solaire</a> has acquired a 34 MW ground-mounted solar project in Uttar Pradesh from the <a href="https://www.jakson.com/" target="_blank" rel="noopener">Jakson Group</a> and businessman Ravi Goyal.</p>
<p>With this acquisition, Technique Solaire&#8217;s operational solar capacity in India reaches 68 MW.</p>
<p>The project, commissioned in 2017, has a power purchase agreement (PPA) with Uttar Pradesh Power Corporation.</p>
<p>The solar project produces 49,500 MWh of green energy annually, meeting the electricity needs of 78,383 local people.</p>
<p>The acquisition is the company&#8217;s first external growth operation. Technique Solaire aims to have a 1 GW operational solar capacity by the end of 2024. The company expects to acquire more operational solar projects in France and across the globe.</p>
<p>Manu Bishnoi, India Director at Technique Solaire, said, &#8220;We hope this transaction is just the beginning of a promising partnership with the Jakson Group, which now wants to focus on the development of new photovoltaic power projects and redeploy its own funds on projects under construction.&#8221;</p>
<p>Commenting on the acquisition, Edouard Dazard, Director of Financing at Technique Solaire, said, &#8221; For us, India is a country with high strategic stakes, and our objective is to acquire other projects there in order to hold several hundred MW by the end of 2024.&#8221;</p>
<p>Last year, Technique Solaire <a href="https://mercomindia.com/technique-solaire-commissions-20-mw-solar-project/" target="_blank" rel="noopener">commissioned</a> a 20 MW solar project in Maharashtra. The ground-mounted solar project is built on 40 hectares of land near two remote areas of Ratnapur and Manwath in the Parbhani district.</p>
<p>In August this year, <strong> </strong>JLTM Energy, the Indian subsidiary of Technique Solaire, <a href="https://mercomindia.com/daily-news-wrap-up-tata-power-renewable-obligation/" target="_blank" rel="noopener">signed</a> a corporate power purchase agreement with Alstom to build a 300 kW rooftop solar system<strong> </strong>at a factory in Coimbatore, Tamil Nadu.</p>
<p>According to Mercom&#8217;s <a href="https://mercomcapital.com/product/9m-q3-2021-solar-funding-ma-report/" target="_blank" rel="noopener">9M and Q3 2021 Solar Funding and M&amp;A Report</a>, in 9M 2021, large-scale solar project acquisition activity was up 129%, with 55.5 GW being acquired compared to 24.3 GW in 9M 2020. A total of 15.8 GW of solar projects were acquired in Q3 2021.</p>
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<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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Technique Solaire Acquires a 34 MW Solar Project from Jakson Group

<p><a href="https://www.techniquesolaire.com/en/" target="_blank" rel="noopener noreferrer">Technique Solaire</a>, a France-based solar developer, announced that it had raised €25 million (~$29.3 million) from its partners <a href="https://www.bpifrance.com/" target="_blank" rel="noopener noreferrer">Bpifrance</a> and <a href="https://www.credit-agricole.com/en/" target="_blank" rel="noopener noreferrer">Crédit Agricole Group</a>.</p>
<p>This marks the second round of funding for the company from Bpifrance and Crédit Agricole de la Touraine et du Poitou, which had initially invested in Technique back in 2017.</p>
<p>&#8220;This operation validates Technique Solaire&#8217;s strategy of being a truly independent renewable energy producer in France and abroad. We will thus participate in achieving the ambitious objective of the Programmation Pluriannuelle de I&#8217;Enegie (PPE) by producing renewable, low-carbon, competitive, and local energy. Indeed, we will continue to support farms and local authorities in these territorial projects,&#8221; said Thomas de Moussac, Co-founder of Technique Solaire.</p>
<p>According to its press release, the company currently has 170 MW solar photovoltaic (PV) projects globally, either in operation or under construction. The company added that it aims to achieve 1 GW of solar capacity by 2024.</p>
<p>According to Mercom&#8217;s <a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener noreferrer">India Solar Project Tracker</a>, Technique Solaire has 25 MW of large-scale solar projects in operations in India.</p>
<p>In January 2020, Technique Solaire <a href="https://mercomindia.com/technique-solaire-commissions-20-mw-solar-project/" target="_blank" rel="noopener noreferrer">had commissioned</a> a total capacity of 20 MW (AC) of solar projects in Maharashtra. This was the second project of the company in India. Its local subsidiary, JLTM Energy, was the winner of 20 MW of solar projects in May 2018. As <a href="https://mercomindia.com/l1-tariff-1gw-solar-auction-msedcl/" target="_blank" rel="noopener noreferrer">reported</a> previously by Mercom, the company quoted a tariff of ₹2.71 (~$0.0401)/kWh for the project. The tender was <a href="https://mercomindia.com/msedcl-tenders-solar-meet-rpo/" target="_blank" rel="noopener noreferrer">initially</a> floated in December 2017.</p>
<p>Technique Biogaz, a subsidiary of Technique Solaire, also has nearly 1 MW of biogas projects in operation, and the company has set a target to achieve 18 MW capacity by the end of 2024.</p>
<p>According to Mercom&#8217;s <a href="https://mercomcapital.com/product/1h-q2-2020-solar-funding-ma-report/" target="_blank" rel="noopener noreferrer">1H and Q2 2020 Solar Funding and M &amp; A Report</a>, in the first of 2020, total corporate funding (including venture capital funding, public market, and debt financing) for the global solar sector was 25% <a href="https://mercomindia.com/corporate-funding-solar-slid-globally/" target="_blank" rel="noopener noreferrer">lower</a> with $4.5 billion compared to $6 billion raised in 1H 2019.</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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