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					</table><p><a href="https://www.mercomindia.com/pfc-bids-evacuate-1-5-gw-renewable-power-maharashtra" target="_blank" rel="noopener"><strong>PFC Consulting invited bids to develop an interstate transmission system to evacuate 1,500 MW of power from renewable energy projects in Maharashtra’s Solapur special economic zone.</strong></a> The project will be developed on a build, own, operate, and transfer basis. The last date to submit the bid online is August 28, 2023. Bids will be opened on the same day. Within ten days from the date of the issuance of the letter of intent, the selected bidder, on behalf of the transmission service provider, must furnish a contract performance guarantee of ₹150 million (~$1.83 million).</p>
<p><a href="https://www.mercomindia.com/electricity-rules-remove-transmission-license-mandate" target="_blank" rel="noopener"><strong>The Ministry of Power issued the Draft Electricity (Amendment) Rules, 2023, to introduce changes to the requirement of transmission licenses for captive and bulk power consumers and capping the additional surcharge for open access consumers at 50% of the wheeling charges.</strong></a> The amendments are expected to enhance the efficiency and transparency of the electricity sector. The draft proposal will be open for stakeholder comments till July 28, 2023.</p>
<p><a href="https://www.mercomindia.com/tcil-empanelment-150-ev-charging-stations" target="_blank" rel="noopener"><strong>Telecommunications Consultants India invited bids for the empanelment of charging point operators to commission electric vehicle charging stations at various locations in the national capital region on a revenue-sharing model.</strong></a> The select operator should oversee the charging stations’ operation and maintenance for one year. The work has been divided into two lots consisting of 50 and 100 charging stations, respectively. The last date to submit the bids is July 18, 2023. The bids will be opened the next day.</p>
<p><a href="https://www.mercomindia.com/world-bank-loan-india-transition" target="_blank" rel="noopener"><strong>The World Bank Group’s Board of Executive Directors approved $1.5 billion in financing to accelerate the development of low-carbon energy in India by scaling-up green hydrogen projects and promoting climate finance for clean energy investments.</strong></a> The funding operation titled First Low-Carbon Energy Programmatic Development Policy Operation is the first in the series of investments by the World Bank to support India’s energy transition through 2070.</p>
<p><a href="https://www.mercomindia.com/energix-renewables-six-solar-projects-in-the-us" target="_blank" rel="noopener"><strong>Energix Renewables, a U.S.-headquartered independent power producer, closed two project financing transactions totaling $520 million with Santander Corporate &amp; Investment Banking (Santander CIB) and Morgan Stanley Renewables to develop six utility-scale solar projects in the U.S.</strong></a> The financing deals involve a consortium led by Santander CIB, providing a construction and term loan facility of $260 million, while Morgan Stanley acts as a tax equity investor with a commitment of $260 million.</p>
<p><a href="https://www.mercomindia.com/lack-reliable-financing-affects-cost-of-capital-renewables" target="_blank" rel="noopener"><strong>The International Renewable Energy Agency, in a recent report, revealed a method used to calculate the cost of capital for clean technologies to help understand the drivers of renewable costs.</strong></a> The cost of capital is the minimum rate of return or profit a company must earn before generating value. It is a significant determinant of the total price to purchasers of electricity from renewable power generation technologies. The report notes that if assumptions used for the cost of capital are not accurate – over time, between countries or technologies – then the cost of electricity might be significantly misrepresented and result in poor policy making.</p>


Daily News Wrap-Up: PFC’s Tender to Evacuate 1.5 GW of Renewable Power


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					</table><p><a href="https://www.mercomindia.com/ministry-175-billion-program-green-hydrogen" target="_blank" rel="noopener"><strong>The Ministry of New and Renewable Energy released a framework document outlining incentive programs for the manufacturing of electrolyzers and the production of green hydrogen within the country, with a combined financial outlay of ₹174.9 billion (~$2.1 billion).</strong></a> The framework document outlines two components of the incentive programs. Component I focuses on providing electrolyzer manufacturing incentives, with a financial outlay of ₹44.4 billion (~$541.2 million), and Component II aims to support Green Hydrogen production, with a substantial outlay of ₹130.5 billion (~$1.6 billion).</p>
<p><a href="https://www.mercomindia.com/hpcl-consultancy-tender-100-mw-solar-projects-andhra-pradesh" target="_blank" rel="noopener"><strong>Hindustan Petroleum Corporation invited bids to select a project management consultant for installing 100 MW of solar projects at Galiveedu Solar Park in Andhra Pradesh for captive consumption.</strong></a> The last date to submit the bids is July 18, 2023. Bids will be opened on the same day. Bidders must submit ₹1.98 million (~$24,076) as an earnest money deposit.</p>
<p><a href="https://www.mercomindia.com/government-guidelines-resource-adequacy-framework" target="_blank" rel="noopener"><strong>The Ministry of Power, in consultation with the Central Electricity Authority, released a set of guidelines to establish an institutional mechanism for resource adequacy, spanning from the national level down to the distribution companies.</strong></a> The guidelines are put in place to ensure the availability of resources at each level to meet the demand. Additionally, the framework will help proactively assess the requirements for new generation capacities, energy storage, and other flexible resources well in advance.</p>
<p><a href="https://www.mercomindia.com/india-unveils-critical-clean-energy-and-cut-imports" target="_blank" rel="noopener"><strong>Union Minister of Coal, Mines &amp; Parliamentary Affairs, Pralhad Joshi, unveiled India’s first-ever report on “Critical Minerals for India,” identifying a list of 30 critical minerals,</strong></a> comprising Lithium, Cobalt, Nickel, Graphite, Cadmium, Silicon, Indium, Tellurium among others imperative for the development of renewables such as electric vehicles and solar. The list was identified considering resource and reserve position, production, import dependency, future technology, clean energy use, and agricultural requirements.</p>
<p><a href="https://www.mercomindia.com/world-bank-loans-himachal-pradesh-renewables" target="_blank" rel="noopener"><strong>The World Bank‘s Board of Executive Directors approved a loan of $200 million to the Government of Himachal Pradesh to help the Indian state achieve its target of adding 10 GW of additional renewable energy capacity and introducing new reforms in its power sector.</strong></a> The loan provided under the World Bank’s Himachal Pradesh Power Sector Development Program will help the state government increase the share of renewables in its energy generation. The above investment will provide a template for India’s power market for underwriting new investments in renewable energy, World Bank said in a statement.</p>
<p><a href="https://www.mercomindia.com/shortage-skilled-labor-threatens-solar-sector" target="_blank" rel="noopener"><strong>The landscape of domestic solar manufacturing is undergoing rapid transformation as new facilities emerge throughout the nation.</strong></a> This expansion cannot progress without a proficient workforce capable of operating and maintaining cutting-edge solar cell and module production machinery and technologies. The government has implemented various incentives and policies to encourage investment in the solar manufacturing segment. While this has undoubtedly boosted the sector, it has also revealed the lack of skilled labor.</p>
<p><a href="https://www.mercomindia.com/gujarat-green-energy-open-access-regulations" target="_blank" rel="noopener"><strong>The Gujarat Electricity Regulatory Commission issued the draft Terms and Conditions for Green Energy Open Access Regulations 2023 to include rules for banking and other open access charges applicable for clean energy open access consumers.</strong></a> The regulations will be applicable for power generated through the open access model from green energy sources, including the energy from non-fossil fuel-based municipal solid waste-to-energy projects.</p>
<p><a href="https://www.mercomindia.com/cerc-asks-developer-pay-transmission-charges" target="_blank" rel="noopener"><strong>The Central Electricity Regulatory Commission has dismissed solar developers’ petition seeking exemption from paying transmission charges to Power Grid Corporation of India (PGCIL)</strong></a> for the portion of the project not completed before the mandated commissioning date. The solar developer also petitioned to overturn PGCIL’s demand for a letter of credit as a payment security mechanism.</p>


Daily News Wrap-Up: Ministry Unveils ₹175 Billion Green Hydrogen Program


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					</table><p>The <u><a href="https://www.worldbank.org/en/home" target="_blank" rel="noopener">World Bank</a></u> has proposed a comprehensive framework for the energy transition in low- and middle-income countries (LICs and MICs) involving the deployment of renewable energy and energy efficiency technologies and the phasing down of coal-fired power generation.</p>
<p>The World Bank estimates that LICs and MICs will need to invest approximately $1.3 trillion per year in renewable energy and energy efficiency by 2030, which is more than four times the current level of investment.</p>
<p>These countries must create enabling policy and regulatory frameworks to mobilize this capital, enhance their institutional and technical capacities, leverage concessional finance and blended finance instruments, and attract private sector participation.</p>
<p>According to a BloombergNEF report, global investment in energy transition <a href="https://cms.mercomindia.com/global-investment-energy-transition-report/" target="_blank" rel="noopener">reached</a> a record $755 billion in 2021.</p>
<p><strong>Phasing down coal-fired power generation </strong></p>
<p>The second step focuses on phasing down coal-fired power generation, which is the most carbon-intensive source of electricity and accounts for about 40% of global power generation.</p>
<p>The World Bank estimates that LICs and MICs collectively host 89% of the global coal power capacity that needs to be retired or repurposed before the end of its technical lifetime, putting an estimated $1 trillion in capital costs at risk by 2040.</p>
<p>To manage this challenge, these countries must adopt clear and credible coal phase-out plans, align their policies and incentives with their decarbonization goals, assess their coal assets&#8217; financial viability and environmental performance, and explore options for repurposing or decommissioning them.</p>
<p><strong>Energy transition impacts</strong></p>
<p>The third step in the framework addresses the energy transition&#8217;s social and economic impacts, which may affect millions of workers, communities, and consumers who depend on the coal sector or rely on affordable electricity.</p>
<p>The World Bank emphasizes that the energy transition should be just and inclusive, ensuring no one is left behind. These countries must design and implement comprehensive social protection measures, such as income support, skills development, job creation, and social dialogue, to achieve this.</p>
<p>They will also need to ensure that electricity tariffs are affordable and reflect the true cost of service delivery while providing targeted subsidies or lifeline tariffs for low-income households.</p>
<p>A report by International Renewable Energy Agency <a href="https://www.mercomindia.com/global-energy-investment-over-next-decade" target="_blank" rel="noopener">called</a> for a significant change in the energy transition to meet the 1.5°C target. Despite reaching a record $1.3 trillion investment in energy transition technologies in 2022, global investment must reach $5 trillion annually to stay on track</p>


Low, Middle-Income Nations Must Invest $1.3 Trillion a Year in Renewables

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