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Parliamentary Panel for Green Banks, Renewable Finance Obligation To Boost Clean Energy
A parliamentary panel has asked the government to explore new and innovative tools to deal with the issue of financial constrains in the renewable energy sector, including setting up of green banks and introduction of renewable finance obligation for financial institutions, among others. “Since Green Banks have emerged as an innovative tool for accelerating clean energy financing globally, the Government should explore setting up of a green bank system which can address the persisting finance related challenges being faced by the renewable energy sector in the country,” the Parliamentary Standing Committee on Energy said in its 21st report tabled in Parliament. Keeping in view that the overall debt requirement is large and reducing the cost of financing to the renewable energy developers is important, it also suggested that the Ministry of New and Renewable Energy (MNRE) may explore the possibility of prescribing Renewable Finance Obligation on the lines of Renewable Purchase Obligation (RPO) for banks and financial institutions. The Renewable Finance Obligation will make them invest a specific percentage of their investment in the renewable energy sector.
MSEDCL Invites Bids For Procuring Solar Power From 865 MW Projects
The Maharashtra State Electricity Distribution Company Limited (MSEDCL) has requested proposals for the acquisition of 865 MW solar power from Maharashtra-based projects to be developed through a competitive bidding procedure. The last date for submitting online bids is February 28, 2022. Successful bidders must create ground-mounted solar PV power plants with the capacity specified in the bidding procedure. As per the tender document, the pre-bid meeting will be held online on February 8th, and the technical bid opening date is February 28th, 2022, while the financial bid opening date will be communicated to qualified bidders later. The tender document specifies the ceiling pricing has been set at Rs 3.10 per unit. The RfS Document cost and Processing fees are Rs 15,000 and Rs 10,000, respectively, on both of which 18% GST will be levied, are payable online, and are non-refundable.
MNRE Simplifies Procedure To Install Rooftop Solar Plant for Residential Consumers
MNRE issued simplified procedure for the residential consumers to get the rooftop solar plant installed by themselves or through any vendor of their choice under the Rooftop Solar Programme. A national portal for registering applications from the beneficiary, approval thereof and tracking progress will be developed. There will be a portal in the similar format at the level of the DISCOMs and both the portal will be linked. The household beneficiary, who wishes to install Rooftop Solar (RTS) under the new mechanism, will apply on the national portal. The beneficiary will be required to submit necessary information including details of the bank account where the subsidy amount will be transferred. At the time of application, the beneficiary will be informed about the complete process and subsidy amount that can be availed for installation of the RTS plant.
GSECL Floats Two EPC Tenders For Solar Projects With 166 MW Total Capacity
Gujarat State Electricity Corporation Limited (GSECL) has issued two tenders for the engineering, procurement, and construction (EPC) of 166 MW grid-connected solar projects. One tender capacity comprises 131 MW of solar plants in the Surendranagar and Morbi districts, and the second one comprises 35 MW capacity solar plants in the Kutch area near Gujarat Energy Transmission Corporation (GETCO) substations. The deadline for submitting proposals for both tenders is February 25, 2022, with March 7 being the bid’s opening date. The scope of work comprises the design, supply, engineering, building, procurement, erection, and testing of solar projects at defined locations.
PLI Scheme to Aid Creation of 45 GW of Solar Equipment Making Capacity: RK Singh
Union Power Minister RK Singh on Tuesday said production linked incentive (PLI) scheme for solar cells and modules will aid the creation of 40-45 GW of additional solar equipment manufacturing capacity in the country. It is proposed in the General Budget presented in Lok Sabha that the funding under the PLI scheme for domestic solar cells and module manufacturing will be increased to Rs 24,000 crore from the existing Rs 4,500 crore. “This is a big scheme and aid to create production capacity of 40GW to 45GW of solar equipment in India, which ranges from polysilicon to modules,” Singh told reporters. In her budget speech Finance Minister Nirmala Sitharaman stated that for facilitating domestic manufacturing for the ambitious goal of 280 GW of installed solar capacity by 2030, an additional allocation of Rs 19,500 crore for PLI scheme for manufacturing of high efficiency (solar) modules with a priority of fully integrate manufacturing units for polysilicon to solar PV modules will be made.
NTPC Vidyut Vyapar Nigam Ltd. Acquires 5% Equity Stake in PXIL
NTPC Vidyut Vyapar Nigam Ltd. (NVVN), a wholly owned subsidiary of NTPC Ltd. has acquired 5% equity stake in Power Exchange of India Ltd (PXIL). NVVN has purchased these shares from NSE Investment Limited, a co-promoter shareholder of PXIL. NVVN is one of the top power traders in India and the acquisition of an equity stake in PXIL is a strategic opportunity for NVVN to achieve and maintain a leadership position in the rapidly changing Power trading market. NVVN was formed by NTPC Ltd., India’s largest power generator and a Maharatna Company, in the year 2002, as its wholly owned subsidiary to tap the potential of power trading in the country. NVVN holds a highest Category ‘I’ power trading license in terms of latest CERC regulations.
DVC Invites Bids For 12 MW Solar Power Project Of Cost Rs 582 Million
Damodar Valley Corporation (DVC) has requested offers for an engineering, procurement, and construction (EPC) tender to build a 12 megawatt (MW) grid-connected and ground-mounted solar power project at the Koderma Thermal Power Station in Jharkhand with an estimated cost of Rs 582.68 million. Bids must be submitted by February 28th, 2022, and will be opened on March 1st, 2022. Interested bidders would be required to submit an earnest money deposit of Rs 5.826 million. The selected bidder will also be responsible for five years of operation and management (O&M) operations. The project will also include ancillary systems, such as a power evacuation system. DVC has declared that they will prefer the ‘Make in India’ plan, which will boost the manufacture and production of products and services in India in order to increase revenue and jobs.