India, U.S. To Collaborate on Clean Energy Promotion
At a meeting with a high level US Delegation, led by Deputy Secretary of Energy, David M. Turk, who called on Dr Jitendra Singh here, the Minister said that India and the United States are revamping their strategic partnership to focus on clean energy sectors, such as biofuels and hydrogen. Dr Jitendra Singh informed the delegation that in the next ten years, India will produce more than three times nuclear power and it is expected to reach 22,480 MW by the year 2031, from the current 6780 MW as more nuclear power plants are also planned in future. The two countries have also signed up for the transformation of the US-India gas task force. This will entail emphasis on the intersectionality between bioenergy, hydrogen, and renewable fuels with natural gas. Dr Jitendra Singh said, with the rapid introduction of biofuels, renewable energy and green Hydrogen, India is well poised to play an important role towards Carbon neutrality. He informed that the Government is already encouraging adaptation of Hydrogen fuels and technology for the mobility sector and many industries like Steel, Cement, and Glass Manufacturing Industries have already started using Hydrogen for heating requirements.
Maharashtra Government, JSW Ink MoU worth Rs 35,000 Crore for Green Projects
The Maharashtra government and power major JWS Energy Ltd signed two MoUs to set up two green projects worth Rs 35,500 crore. The agreement is part of the slew of initiatives under the state government’s Magnetic Maharashtra 2.0 initiative, started last year, to focus on stimulating investment and growth. “The two new projects will supply cheap and green renewable power round the clock, and help Maharashtra reduce its dependence on non-renewable sources of energy,” said Industry Minister, Subhash Desai. The projects are slated to kick off in 18 months and are expected to generate 6,500 MW clean energy in northern and western Maharashtra. “The aim is to rapidly move toward a more sustainable environment by reducing carbon footprint and tackling global warming,” Desai added. The investment inflow from JSW will account for a considerable increase in renewable energy sources within Maharashtra. The projects promise to be an employment generator for around 10,000 people and “bring socio-economic development of the area by promoting eco-tourism, skill development and service sector,” the statement noted.
Venkaiah Naidu Urges Govts to Mandate Solar Energy in Buildings
Vice President M Venkaiah Naidu on urged the central and state governments and administrations of union territories to patronise and adopt rooftop solar power facilities and it could also be made mandatory. He said, every central, state government and union territory governments building should have rooftop solar power plant. Public sector undertakings should also have the rooftop solar power plant. Naidu said that installation of rooftop solar power plants could also be made mandatory. He was speaking after inaugurating a 1.5 MW rooftop solar power plant installed at a cost of Rs 7.67 crore in the centrally administered JIPMER medical college. Naidu also said solar rooftops not only use empty areas on the building, but also generate power close to the point of consumption and reduce transmission losses. He called upon all states to work together to popularise the tapping of solar energy and bring greater awareness among people on the benefits of installing solar panels on their rooftops. There is also a need to launch massive campaigns to publicize the subsidy programmes for solar rooftop systems and the resultant electricity savings, he added.
R. K. Singh Addresses US India Strategic Partnership Forum
India and USA have similar goals and share the same zeal towards climate change issues. We want to have a partnership which can be an inspiration to the rest of the world on the fight towards mitigating climate change. The industry plays a critical role in this partnership, said the Minister. Shri Singh observed that India has set an ambitious target of having 175 GW capacity of RE by 2022 and 450 GW RE capacity by 2030. India has reached 100 GW in Installed Solar and Wind Capacity and after adding Hydro capacity also, the total installed renewable capacity is 146 MW. Further, 63 GW of renewable capacity is under construction which makes India one of the fastest growing economies in terms of renewable capacity addition. India would be conducting competitive bids for green hydrogen in next 3-4 months to pave the road for viable usage of hydrogen as a fuel. In the near future, India will have bids to invite global and domestic manufacturers for developing battery storage in India on the cards. India will soon have bids for 4000 MWhr BESS bids and later will take up 12 GWhr project in Ladakh. He further added that the world needs to come up with more number of eletrolyzers, battery storage facilities, etc to bring economies of scale in these technologies and make these commercially viable. Only then, we will be able to truly shift from fossil fuels to renewable energy.
Power Finance Corporation Issues India’s First Euro Green Bond
Power Finance Corporation Ltd (PFC), the leading NBFC in power sector, has successfully issued its maiden Euro 300 million 7 year Euro Bond issuance. The pricing of 1.841% achieved is the lowest yield locked in by an Indian Issuer in the Euro markets. This is a milestone issuance for PFC and marks many first’s for PFC. It is not only the first Euro bond issuance by PFC but also the first ever Euro denominated Green bond issuance from India. Moreover, it is the first ever Euro issuance by an Indian NBFC and the first Euro bond issuance from India since 2017. The issuance saw a strong participation from institutional investors across Asia and Europe with a participation from across 82 accounts and was oversubscribed 2.65 times.
SECI Extends Bid Submission Deadline for Chhattisgarh’s 100 MW Solar Project
Solar Energy Corporation (SECI) has extended the bid deadline for the 100 MW solar project to be commissioned in Chhattisgarh. The revised deadline is now September 24th. The bidding documents were issued in July this year. The installer shall set up the proposed project at a land identified, acquired, and purchased by it on SECI’s behalf and shall transfer the same in favor of SECI. The scope of work includes design, engineering, supply, construction, construction, testing, test run, and 15 years of comprehensive operation and maintenance of photovoltaic power plants. The minimum amount of land required for a project is 400 acres and bidders must consider this minimum land requirement when bidding.
NHPC Tenders for 45 MW Solar EPC Project in Uttar Pradesh
NHPC Limited has invited bids for the engineering, procurement, and construction (EPC) of a 45 MW solar crystalline photovoltaic grid connected power plant along with an associated power evacuation system in the Jalaun district of Uttar Pradesh. The successful bidder will also have to take care of maintenance activities of the project for five years. The last date to submit the bids online is October 22, 2021. To participate in the bidding process, the bidder as an EPC contractor or a developer should have designed, installed, and commissioned grid-connected solar power projects of a cumulative capacity of 40 MW or higher. One project should have been of 10 MW or higher. The reference project should have been in successful operation for at least six months before the bid opening date.