Adani Group to Invest $20 Billion in Renewable Energy Projects Over Next 10 Years
Gautam Adani on Tuesday said his group will invest $20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world’s cheapest green electron. Speaking at JP Morgan India Investor Summit, the Adani Group chairman said the $20 billion investment will be in renewable energy generation, component manufacturing, transmission, and distribution. The company plans to triple its renewable power-generation capacity over the next four years, foray into green hydrogen production, power all data centres with renewable energy, turn its ports into net carbon zero by 2025, and plans to spend over 75 % of capital expenditure until 2025 in green technologies, said Gautam Adani. Adani said over the next two decades, India will have the biggest and youngest middle class that has ever existed. Over the next decade, India will be among the world’s top four countries in terms of market capitalization. “This is leverage from which we must benefit.”
Andhra Pradesh To Avail 9 GW Solar Power from SECI at ₹2.49/kWh
The Andhra Pradesh government has agreed to procure 9 GW of solar power from the Solar Energy Corporation of India (SECI) under the manufacturing-related solar bidding initiative. SECI had written to the Andhra Pradesh government asking to procure 9 GW of solar capacity to be set up in the years 2024, 2025, and 2026 in three tranches of 3 GW each. According to the sources, SECI has proposed this as a suitable alternative to the state government’s 6.4 GW of PV bid which ran into legal complications. SECI stated that under a manufacturing-related power supply agreement (PSA), the state will provide electricity at Rs 2.49 / kWh, and the entire 25-year power purchase agreement will be exempt from interstate transmission system (ISTS) charges. SECI explained that between December 2019 and June 2020, a 12 GW project was awarded for four tranches, 3 GW each, under a manufacturing-linked solar bid. The balance of 9 GW will be set up in three phases 3 GW each and will be ready in September 2024, September 2025, and September 2026, respectively.
Greenko Signs Up to Become a Net Zero Carbon by 2040
Greenko has signed up for “The Climate Pledge” by joining over 200 companies who have pledged to achieve the net-zero carbon target by 2040, a decade ahead of the Paris Agreement goal. The announcement responds to the findings of the latest United Nations’ Intergovernmental Panel on Climate Change (IPCC) report, which underscores the need for urgency in addressing the climate crisis. Unless there are immediate reductions in greenhouse gas emissions, limiting warming to close to 1.5 degrees Celsius or even 2 degrees Celsius will be out of reach. Businesses have long contributed to the effects of climate change, but deep cuts in emissions of greenhouse gases could stabilize increasing temperatures. The 200 plus Climate Pledge signatories, which have committed to net-zero carbon by 2040 or sooner, are uniquely positioned to rise to the challenge of addressing climate change and helping to create the low-carbon economy of the future.
TANGEDCO To Procure 1000 MW Solar Power from SECI
Tamil Nadu Electricity Regulatory Commission has allowed Tangedco to go ahead with its proposal to procure 1,000 MW solar power from the SECI for Rs 2.54 per unit to meet its renewable purchase obligation. The regulator directed TANGEDCO to negotiate the trading margin with SECI. TANGEDCO will procure the power at Rs 2.61 per unit, including SECI’s Rs 0.07 per unit trader’s margin. TANGEDCO had filed a petition to procure 1,000 MW of solar power from SECI at 2.61/kWh, including the trading margin of ₹0.07 (~$0.0009)/kWh to meet its renewable purchase obligation (RPO) target. The Commission directed the petitioner to negotiate with SECI to reduce the trading margin and report the outcome. It said that TANGEDCO could sign the PSA according to the negotiation outcome and furnish a copy to the Commission.
First Solar’s CEO Met PM Narendra Modi To Discuss India’s Solar Energy Potential
First Solar’s CEO, Mr. Mark Widmar recently met Prime Minister Shri Narendra Modi to discuss India’s renewable energy landscape, particularly solar energy potential, and the company’s target of 450 GW electricity generation from renewable sources by 2030. The CEO said the company also plans to set up manufacturing facilities in India using their unique thin-film technology by availing the recently launched Production Linked Incentive (PLI) Scheme, as well as integrating India into global supply chains. The facility will be designed using the advanced manufacturing template established for First Solar’s recently-announced factory in Ohio. Combining highly skilled workers with Industry 4.0 architecture, machine-to-machine communication, artificial intelligence, and Internet of Things connectivity, will feature high degrees of automation, precision, and continuous improvement.
Tripura to Set Up Solar Microgrids in 23 Villages
Jishnu Dev Varma, Tripura’s deputy chief minister, said the state government intends to build solar microgrids in 23 rural areas where conventional power cannot be given. Tripura Renewable Energy Development Agency (TREDA) would install systems in these villages. TREDA is a non-profit organization dedicated to the development of renewable energy. As per reports, a 2 kW solar microgrid was also inaugurated at Sarkipara in Nunacherra autonomous district council village in Khowai district. The system will provide electricity to 14 families as the villagers here have been demanding electricity for a long time; however, setting up a power line to such a location for less than 100 people was not feasible. The deputy chief minister said that around 12,000 solar lights were already distributed in several remote areas across Tripura, and plans to distribute another 15,000 solar lights were also in the pipeline.
Joint Venture Of TEDA, And SECI To Run Metro Rail On RE
Tamil Nadu Energy Development Agency (TEDA) will install a 20 MW capacity of wind-solar hybrid plant which will also contain a battery energy storage system (BESS) for the energy requirements of Metro services. This is in partnership with Chennai Metro Rail Ltd, and Solar Energy Corporation of India (SECI). Tamil Nadu Renewable Energy Park Ltd (TREP), a subsidiary company will carry out the work of generation and aggregation of renewable energy (RE). The company will also supply to attract customers through this joint venture. As per a TEDA senior official, the project is to show the technical feasibility of the battery storage system for renewable energy (RE). A 75-acre land in Kayathar, Thoothukudi is owned by TEDA would contribute towards equity and the SECI and CMRL will cover the cost of the project according to the agreement. The power generated from this project will be sold to CMRL at the price agreed in the agreement and the profit earned will be divided between the partners into the agreed terms.
NCL Partners with NTPC to Install 50 MW Solar Project in MP
State-owned Coal India Limited (CIL) said its subsidiary Northern Coalfields Ltd (NCL) has joined hands with power major NTPC to install a 50 MW solar power project in Madhya Pradesh. This is the first ground-mounted solar project of NCL for which project consultant NTPC has invited bids with a pre-bid date set on October 7 and tender opening date on October 22, CIL said in a statement. CIL NTPC Urja Pvt Ltd (CNUPL), a joint venture of Coal India Ltd and NTPC, which will co-ordinate for this entire project, is confident that the project would be completed within the stipulated timeframe of one year. As a project consultant, NTPC will help NCL get a successful bidder for this project and then NCL will get the project executed through the successful bidder.
Reliance, Adani, 17 Other Firms Reveal Interest For Solar Manufacturing Under PLI Scheme
As many as 19 firms, including Reliance Industries Ltd (RIL), Adani Group have shown interest in setting up solar manufacturing units under a production-linked incentive scheme of the government, according to government officials aware of the development. In April this year, the Union Cabinet approved a Rs 4,500 crore production linked incentive (PLI) scheme to boost the domestic manufacturing capacity of solar PV modules. The scheme is aimed at adding a 10,000 MW manufacturing capacity of integrated solar PV modules entailing a direct investment of Rs 17,200 crore. PLI schemes, seek to create global manufacturers in India by removing sectoral disabilities and creating economies of scale to develop complete component eco-systems in India. Prime Minister Narendra Modi in February invited global firms to take advantage of the PLI schemes for 13 sectors and expand their manufacturing in India.