Adani Green Completes Acquisition of SB Energy India for $3.5 Billion
Adani Green Energy Ltd (AGEL) said it has completed the acquisition of SB Energy India for USD 3.5 billion (Rs 26,000 crore). With this deal, SB Energy India is now a 100 % subsidiary of AGEL. Earlier, it was an 80:20 joint venture between Japan-based SoftBank Group Corp and Bharti Group. “AGEL, the world’s largest solar power developer, successfully completed the acquisition of SB Energy Holdings Ltd (SB Energy India) in an all-cash deal. This transaction takes AGEL closer to becoming the global leader in renewables, said Vneet S Jaain, MD and CEO, AGEL in the statement. “The addition of these high-quality large utility-scale assets from SB Energy India demonstrates Adani Green Energy’s intent to accelerate India’s efforts to transition towards a carbon neutral future. Our renewable energy foundations will enable an entire ecosystem of new industries that can be expected to catalyze job creation in multiple sectors,” he added.
Renewable Energy Output Rose 53.6% in September, Says Data
India’s coal-fired electricity generation so far this month fell 1.5% from a year earlier, while the power output from renewable energy jumped 53.6%, a Reuters analysis of government data showed. Overall electricity generation growth slowed to 1% in the first half of September, a review of daily load despatch data by federal grid regulator POSOCO showed, much slower than the 16.1% growth in August which had resulted in a 23.7% increase in coal-fired output. The slowdown in coal-fired power output and a pickup in renewable energy generation could provide relief to utilities across the country which are struggling with a coal shortage, forcing India to ask power plants to import coal. The share of renewables rose to 12.1% from 11.9% in August. Renewable energy output jumps in September, driven by a more than doubling of wind power production and an 18.6% rise in solar power generation, the POSOCO data showed, making up for a 5.3% fall in hydropower output, and a 33.7% decline in gas-fired power.
DMRC Invites Bids for 2 MW of Rooftop Solar Systems
Delhi Metro Rail Corporation (DMRC) Ltd. invites open e-tenders from eligible applicants, who fulfill qualification criteria, for the Design, Engineering, Manufacture, Supply, Storage Civil work, Erection, Testing & Commissioning of the solar PV project including Operation and Comprehensive Maintenance (O&M) of the project in RESCO Model for a period of 25 years after commissioning of projects in Depot and Metro Stations of KMRL. The deadline to submit the bid is 16th November 2021. The approximate cost of the project is Rs. 7.82 Crores. The work must be completed within 12 months from the date of allocation. The project will have a fixed tariff for 25 years with a cap on tariff at Rs. 4/kWh. The size of each project can range from 10 kW to 400 kW or more on each rooftop. Each unit may be connected individually, with separate energy meters. The solar power generated will be fed to the grid on a net metering basis or applicable metering.
Silicon, Hydrogen To Emerge as Next Decade’s ‘New Oil’ for Reliance
Reliance Industries Ltd plans to transform its energy business with an over-arching strategy to offer decarbonization solutions globally at a competitive price in a market potentially worth USD 5 trillion by 2030, Morgan Stanley said. The success RIL has enjoyed from entry into offering telecom data in the past half a decade surprised the market. And we expect silicon and hydrogen to emerge as the next decade’s ‘New Oil’ for RIL, with potentially up to $60 billion in value creation if things fall into place by 2025, said Morgan Stanley. According to Morgan Stanley, Reliance Industries has plans to provide solutions related to hydrogen, solar PV and grid batteries is “unique” and could allow it to stand out as “one of the most integrated infrastructure providers”, not just in India but globally. “The strategy is to provide supporting infrastructure in areas of hydrogen, integrated solar PV and grid batteries – all areas with high entry barriers, technological advances and good returns,” the report said.
India Reaffirms its Commitment to Curtail Carbon Emissions in the Antarctic Atmosphere
Union Minister of State (Independent Charge) Science & Technology; Dr. Jitendra Singh said India is committed to the comprehensive protection of the Antarctic environment and dependent and associated ecosystems, and the designation of Antarctica as a natural reserve devoted to peace and science. He said, India also reaffirms its commitment to the Protocol on Environmental Protection to the Antarctic Treaty. He was addressing an international conference commemorating the signing of the Protocol on Environmental Protection to the Antarctic Treaty in 1991. The treaty which came into force in 1998, designates Antarctica as a “natural reserve, devoted to peace and science”. India has already adopted the green energy initiative by experimenting with the feasibility of wind energy production and installed moderate output of Wind Energy Generators on an experimental basis, he said.
Emmvee Signs MoU With Karnataka Government To Set Up 3 GW Manufacturing Facility In Dobaspet
Coming up at Dobaspet, Karnataka, this will be Emmvee’s second solar modules investment in Karnataka after the International Airport Road Bengaluru district plant. Bangalore-based solar module manufacturer Emmvee has signed an MoU with the Karnataka government to set up an Rs.825 crore solar modules and cells manufacturing plant in the state. Coming up at Dobaspet, Karnataka, the plant is an addition to the manufacturer’s existing solar modules manufacturing plant of 0.5 GW capacity in the Bengaluru district of the state. The plant is expected to provide jobs to 736 local youths. The MoU for the plant was signed between Karnataka government officials and Emmvee Managing Director D V Manjunatha in the presence of then Chief Minister B.S.Yediyurappa. Speaking on the occasion, Chief Minister B.S.Yediyurappa had said that huge investments are coming in the solar and other non-conventional sources of energy due to the government’s incentives and growing demand for solar modules and solar cells in the state.
Cleantech Solar Secures INR 2 Billion Senior Secured Loan Facility With NIIF IFL For Open Access Portfolio In India
Cleantech Solar, a leading provider of renewable energy solutions to corporations in India and Southeast Asia, announces the financial close of an INR 2 billion senior secured loan facility with NIIF IFL for the company’s portfolio of Open Access projects in India. Headquartered in Singapore, Cleantech Solar has Royal Dutch Shell and Climate Investor One (CI1) (managed by Climate Fund Managers (CFM)) as its strategic investors. Last year, the company secured Asia Pacific’s largest green loan of US $75 million from ING bank and also has loan facilities from SBI-World Bank and Tata Cleantech Capital. Cleantech Solar has significantly ramped up its growth since the company was founded in 2014. The company has a portfolio of over 600 MWp of solar assets across India and Southeast Asia.
PEDA Tenders for Setting Up 220 MW Solar Plants
The Punjab Energy Development Agency (PEDA) has invited bids for 220 MW of grid-connected solar power projects of 1 MW, 1.5 MW, or 2 MW capacity. The projects will be installed under Component-A of the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM KUSUM) program. The total aggregate capacity of solar power plants to be set up in the state is 220 MW. The prime target for the system is farmers, although other groups like panchayats, cooperatives, farmer manufacturer organizations, and water user associations can obtain the tender. The solar energy generated by the plants will be purchase by PSPCL at the prefixed Levelised tariff of Rs. 2.748/ KwH for 25 years notified by Punjab State Electricity Regulatory Commission (PSERC).
GoodWe Shines At 6MW India Refinery Site
Mangalore Refinery and Petrochemicals Limited (MRPL) has successfully commissioned the largest solar power project in a refinery site in Karnataka. The solar power project commissioned by TATA power solar has a total capacity of 6.063 MWp and is spread across 34 rooftops within the refinery premises. The refinery area has huge premises comprising 34+ buildings. There is no internal transport available for commuting from one end to another and third-party vehicles are not permitted. Covering such a large area without transportation was a major obstacle and represented a significant challenge. There are also defined protocols and strict guidelines for entering the premises and each plant requires a different work permit.
India, UK Collaborate on Smart Power, Renewable Energy and Storage
The third UK-India Energy for Growth Dialogue concluded on Friday, with Minister for Power and New and Renewable Energy Raj Kumar Singh and UK Business and Energy Secretary Kwasi Kwarteng agreeing on a new joint program on smart power and renewable energy. The Smart Power, Renewable Energy and Storage Program will complement ongoing efforts to promote efficient power distribution, industrial energy efficiency, electric vehicles, solar and offshore wind generation, and energy storage. Both sides highlighted India’s advancement of solar energy to power the Indian Railways, welcoming close collaboration through the India-led International Solar Alliance, which aims to mobilize more than USD 1 trillion of investments in solar energy by 2030.
