Maharashtra Cabinet Approves 577 MW Solar Projects in Mumbai
The Maharashtra Cabinet approved establishment of solar power projects by the state-run Maharashtra State Power Generation Company (MahaGenco) at various places. The government has cleared two proposals comprising solar power projects of total capacity of 187 MW and another of 390 MW. The projects are expected to be completed by 2023. The cabinet also approved MahaGenco to borrow loan up to Rs 588.21 crore from KFW Bank Germany. These projects will be set up on an Engineering Procurement and Construction basis. Of the 187 MW, Rs 158.29 crore will come from MahaGenco’s internal resources or debt. MahaGenco will repay the loan borrowed from the KFW Bank Germany. The state cabinet has approved a loan of Rs 1,564.22 crore at 0.05% rate of interest per annum KFW Bank Germany with repayment in maximum 12 years. MahaGenco is also expected to explore new project financing under innovative project conditions. The state cabinet also approved MahaGenco to raise share capital of Rs 364.18 crore from its internal resources or trough debt. MahaGenco will have to repay the loan taken from KFG Bank Germany.
Power Sector CPSUs to Get Nod on Balance Sheet Strenght
The Union power ministry has decided to give in-principle approval at the beginning of a year for the CPSUs under it to bid for pre-determined renewable energy capacities based on their balance sheet strength. The matter of enhancement of power of investment approval of Board of mini Ratna CPSUs for upward revision to be taken up with Department of Public Enterprises. Proposal for reducing hurdle rate IRR for RE Sector from 10% to 8%, to be taken up with Ministry of Finance. On Policy and Regulatory front- Bundling of RE projects with New or untied/high tariff hydro projects to be allowed so as to bring down the tariff of hydro power to consumers. Proposal for waiver of Transmission charges for RE capacity under Flexibility Scheme to be considered. No requirement for separate PPAs for RE Power developed under Flexibility Scheme. Separate guidelines to be formulated under Section 63 of The Electricity Act, 2003, for bundling scheme, for setting up RE plant on their own land or a new location.
Tamil Nadu to Set Up 4000 MW Solar Power Park
Tamil Nadu Generation and Distribution Corporation Ltd (Tangedco) will set up a 4,000 MW solar power park to meet the growing energy demand, Electricity Minister V. Senthilbalaji told the Assembly. Making the announcement while moving the demands for grants for his department, he said Tangedco plans to set up solar power parks with battery storage system in all the districts in the state. It is also proposing 2,000 MW worth of LNG-based power units. Under this programme, small units with capacity in the range of 18-20 MW will be established. The feedstock Regassified-LNG will be sourced from the IOC’s LNG terminal at Ennore. The power generated from these units is expected to come in handy to meet the shortfall when there would be absence of wind and solar power. The State power distribution company mulls establishing a 500 MW pumped storage hydroelectric plant each in Kanyakumari and Theni. It will also conduct feasibility studies to build pumped storage units in 11 places across the State for a total capacity of 7,000 MW. “Also, the government will undertake steps to complete the 2,000 MW Sillahalla (Nilgiris District) pumped storage hydro power plant at the earliest,” said Senthilbalaji.
CIL Tenders For 4 GW PV Ingot-Wafer-Cell-Module Manufacturing Plant
Coal India Ltd (CIL) Tenders for Shortlisting Partners For Setting Up 4 GW Solar Ingot-Wafer-Cell-Module Manufacturing Plant. CIL plans to associate with Equity Partner to implement and operate the said 4 GW solar PV ingot-wafer-cell-module manufacturing project. Parties who are interested and willing to be associated with CIL for the said project are invited to submit their Request for Qualification (RFQ). Purpose of this RFQ is to seek interest from the prospective parties for collaborating with CIL for its proposed solar PV manufacturing project and to shortlist potential players from amongst the applicants for consideration in the next stage of selection. Based on the responses received from this RFQ, CIL may run a subsequent selection process, wherein discussions may be held with the shortlisted players on the contour and broad terms of the proposed partnership upon sharing of project-specific information by CIL to the shortlisted players on confidential basis after signing of Non Disclosure Agreement (NDA), followed by a Request for Proposal (RFP) process for final selection of the equity partner from amongst the shortlisted players.
IREDA Ties with TANGEDCO for Renewable Energy Projects and Fund Raising
Indian Renewable Energy Development Agency Ltd. (IREDA)signed a Memorandum of Understanding (MoU) with the Tamil Nadu Generation & Distribution Corporation Limited (TANGEDCO), for providing its technical expertise in developing Renewable Energy projects and fund raising. Under the MoU, IREDA will extend its technical expertise to TANGEDCO for Renewable energy project development, bid process management, and implementation support. IREDA will also assist TANGEDCO in debt raising through developing financial models, assistance in the understanding market instrument, underwriting services for the proposed debt requirement, and conducting pre-market surveys, road shows to generate interest amongst prospective investors. TANGEDCO is planning for 20,000 MW of Solar Power Project, with adequate Battery Storage, 3,000 MW of Pumped Storage Hydro Electric Project, and 2,000 MW of Gas Based Power Plant for efficient Renewable integration. The estimated loan required for the above projects is about Rs1,32,500cr approximately. IREDA will also assist TANGEDCO in debt raising through developing financial models, underwriting services for the proposed debt requirement, and conducting pre-market surveys and roadshows to generate interest amongst prospective investors.
BEL To Provide Sustainable Energy to Security Forces
The Bharat Electronics Limited (BEL) has signed a pact for providing reliable and sustainable power supply to security forces operating in remote, Naxal-affected and high-altitude areas. The Memorandum of Understanding (MoU) between BEL and the SFC Energy-AG, Germany, and FC TecNrgy Pvt Ltd (FCTec) will ensure cooperation in addressing the emerging requirement of sustainable energy to the security forces through supply of hydrogen and fuel cells. The tie-up combines the BEL’s engineering and large-scale manufacturing strengths with SFC’s experience in gasoline cells and FCTec’s system integration and set up know-how, the press release stated. The MoU is in line with the central government’s initiative for adoption of green energy solutions, it said. Reliable and sustainable power supply has been a major challenge for the security forces operating in remote, high-altitude and Naxal-affected areas, deserts and island territories. The partnership aims to jointly address the off-grid power needs of the country, including mission critical requirements of the security forces and a range of additional applications through highly proven and customised green energy solutions based on fuel cells, it added.