Fourth Partner Energy received a $70 million investment from The Rise Fund, a global impact investment fund managed by TPG Growth.

Founded in 2010 by Vivek Subramanian, Saif Dhorajiwala, and Vikas Saluguti, Fourth Partner Energy is a distributed energy management company with complete in-house capabilities across design, engineering, construction, service, monitoring and financing. One of the company’s main offerings is solar power under long term power purchase agreements leading to significant cost savings for industrial, commercial as well as public sector clients. The Rise Fund will leverage the extensive investing and business building experience and track-record of TPG Growth’s global network and team to help Fourth Partner Energy grow and develop the businesses.

Read more: Fourth Partner Energy gets $70 mn funding

Indian power producer NTPC Ltd has invited bids for 36 MW of grid-connected solar photovoltaic capacity, to be installed in the states of Telangana and Gujarat.

The projects will be awarded under two separate reverse auctions, according to the company’s website. Under the first tender, NTPC is searching for an EPC contractor for a 21-MW solar project in Gandhar, Gujarat. Eligible bids will be accepted by July 26.

Read more: India's NTPC seeks EPC contractors for 36 MW of...

Driven by large-scale projects, the solar installation in India during January-March period of the current calendar year was 3,269 megawatt (mw), up by over 9 per cent compared to 2,991 mw installed in the corresponding period last year, a report said on Tuesday.

The cumulative solar installed capacity totalled 22.8 gigawatt at the end of the quarter.

Read more: 3.3 gw solar installed in Jan-March period: Report

CleanMax Solar is the first Indian company to win this award in the 'Achievement in Transformational Infrastructure' category

Financial Times and International Finance Corporation, a member of the World Bank Group, today announced CleanMax Solar, India's most trusted sustainability partner for the corporate segment, as the winner in 'Achievement in Transformational Infrastructure' at the Transformational Business Awards 2018. The company was selected from among 189 entries received from 126 countries, and received the award for its rooftop solar project at the Tata Motors factory in Sanand, Gujarat. CleanMax Solar is the first Indian company ever to win the award. The award was presented by Ms. Stephanie Race, CEO, Crop Performance Ltd. to Mr. Kuldeep Jain, Founder and Managing Director of CleanMax Solar, during the awards ceremony held in London.

Read more: CleanMax Solar Bags Transformational Business...

"The development cost for this capacity is pegged at $20 billion," said a person with direct knowledge of the development on the condition of anonymity.

IL&FS Energy and SoftBank group's SB Energy will form a partnership to develop grid connect solar parks of about 20 gigawatts in India, IL&FS said in a statement on Monday.

Read more: SoftBank Group's SB Energy, IL&FS to partner for...

Triton brings user-friendly and pocket-friendly Backup Solutions From 10KWH to 10MWH of requirements. The offering is live for entire India. From common households to manufacturing units to small commercial setups to mission critical healthcare institutions, Triton’s offerings covers customers of almost every size and type.

Read more: Triton Solar Brings Redundant and Affordable...

Fortum has signed an agreement to sell a 54% share of its solar power company operating four solar power plants in India to UK Climate Investments (40%) and Elite Alfred Berg (14%). Elite Alfred Berg has the option to buy up to an additional 16% from Fortum. The total capacity of this portfolio is 185 MW. In this partnership, Fortum will retain a significant minority ownership in the solar power company and continue to provide operation and maintenance services based on a long-term agreement.

Read more: Fortum to sell share of 185-MW Indian solar...

  • Roof-mounted system with a total output of almost two MWp in Dominican Republic
  • SOVENTIX strengthens its position as market leader for photovoltaic systems in the Caribbean region
  • Project pipeline rises to just under two gigawatts

Santiago De Los Caballeros and Wesel – SOVENTIX Caribbean SRL has realized a solar roof-mounted system with a total output of almost two megawatts in the Dominican Republic. It is the largest solar roof-mounted system in the Caribbean. The solar energy is intended to be used for self-consumption by the leading free zone corporation Corporación Zona Franca Santiago (CZFS). With this project, SOVENTIX consolidates its position as a market leader for solar systems in the Caribbean region. In 2016 SOVENTIX built the largest solar park in the Caribbean with a nominal output of around 33 MWp, which will again become the largest PV project in the region once its second phase is implemented.

Largest solar roof-mounted system in the Caribbean

The solar roof system was built in Corporación Zona Franca Santiago, a major player in the development of the Northern Region of the Dominican Republic. The free zone has been awarded several times as the best “Free Zone Industrial Park in Latin America and the Caribbean” and intends with this project to become a sustainable leader in the free zone sector. The project was implemented in ten buildings located in the free zone. It is the first step of a larger scale project, which intends to reach more than 36 MWp in the free zone, becoming the largest photovoltaic roof top project in Latin America.

"We are very pleased about the successful implementation of the solar roof-mounted system. Above all, photovoltaic systems offer companies like CZFS the opportunity to reduce their dependency on fossil fuels price volatility, become more competitive and step forward in their leadership on environmental protection and climate change mitigation. The fluctuations of the fossil fuel pricing are a great challenge for Caribbean based companies, especially when they need to compete with foreign companies with much lower cost of energy", says Alfonso Rodriguez, General Manager of SOVENTIX Caribbean SRL.

Attractive prospects for solar energy in the Dominican Republic

The high irradiation availability, volatile energy prices and increasing need of competitiveness offer attractive prospects for photovoltaics in the Dominican Republic and rest of Caribbean. Experts expect renewable energies to play a major role in expanding access to electricity in the Dominican Republic and reducing the dependency on imported fossil fuels. The government is therefore committed to promoting solar energy and wind projects along with other non-conventional renewable energy technologies. The objective is to generate 25 % of the annual energy demand from environmental friendly technologies.

"With its excellent irradiation values, solar energy is already competitive with traditional energy sources in the Dominican Republic. This offers attractive prospects for the population, the government and national as well as international investors. We are experiencing an increasing demand for photovoltaic systems in the Caribbean. Therefore, we want to further expand our commitment in the Dominican Republic", says Thorsten Preugschas, CEO of the SOVENTIX Group.

SOVENTIX continues its international growth course

The successful project underlines the international growth course of the solar company from Wesel. The pipeline currently comprises projects of almost two gigawatts in Africa, South America, North and Central America and Europe, among others. Photovoltaic plants with a total capacity of approximately two MWp are currently being built. Further projects with a volume of around 137 MWp have already been developed. This makes SOVENTIX one of Germany's leading international project developers for photovoltaic plants.

Tata Power Renewable Energy, a part of Tata Power operating in solar space as manufacture and EPC player, has signed up with General Electric to provide solar rooftop solutions for GE’s six manufacturing and services sites in India. The projects will be executed on Build-Own-Operate basis, it added. “Generation of solar power at our manufacturing plants will help GE in reducing carbon footprint,” said Amit Kumar, Vice-President, Supply Chain - GE India & South-East Asia.

He added India has a lot of potential for solar rooftop projects which need to be harnessed to meet India’s energy needs for manufacturing.

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