India’s Renewable Energy Ministry Streamlines Approval Process for Solar Parks
The Ministry of New & Renewable Energy has revised the policy for Solar Park development. Central Public Sector Undertakings and their Joint Ventures can now submit DPRs directly to SECI, IREDA, and MNRE without State Government Committee approval. State PSUs need departmental approval. Private developers still require State Government Committee approval. The change aims to accelerate solar park development.
Chhattisgarh Debuts 15 MW Floating Solar Plant Led by SAIL to Propel Sustainable Energy Goals
SAIL’s Bhilai Steel Plant is pioneering a 15 MW floating solar power project at Chhattisgarh’s Maroda-1 reservoir to boost sustainability and reduce carbon emissions. This initiative will generate around 34.26 million units of green power annually, exclusively for BSP’s use, potentially cutting CO2 emissions by 28,330 tonnes per year. Implemented through NSPCL, an NTPC-SAIL joint venture, the project underscores collaborative efforts towards renewable energy solutions, with completion expected next year.
Green Energy Dispute Resolved: Solar Company Wins Compensation For Power Supplied To Telangana Grid
Sai Adithya Green Energy resolved a legal battle with TSSPDCL over compensation for electricity supplied during a lapsed permission period. TSERC ruled in favor of Sai Adithya, directing compensation at the pooled purchase cost. This decision highlights challenges in regulatory compliance and sets a precedent for fair energy compensation in India’s renewable sector, emphasizing the need for streamlined processes.
SECI Seeks Regulatory Approval For ₹0.07/kWh Trading Margin On 500 MW Solar Projects
SECI in New Delhi filed a petition under the Electricity Act, 2003, seeking tariff adoption for its 500 MW Solar PV Power Projects linked to the Inter-State Transmission System. This follows competitive bidding processes with agreements signed, including with UPPCL, proposing tariff adoption as per signed contracts. The outcome will impact energy pricing and contribute to India’s renewable energy goals, highlighting SECI’s pivotal role in advancing solar infrastructure.
RECPDCL Seeks Expressions of Interest for Acquisition of 200 MW Operational Renewable Energy Assets
RECPDCL is seeking bids to acquire 200 MW operational solar, wind, or wind-solar hybrid projects by May 27, 2024. Eligible projects must have at least 15 years of remaining useful life, with a minimum turnover of ₹70 crore. Preference will be given to projects with strong operational records and power purchase agreements. Shortlisting criteria include return on capital employed, with an earnest money deposit requirement for selected bidders.
Green Energy Dispute Resolved: Solar Company Wins Compensation For Power Supplied To Telangana Grid
Sai Adithya Green Energy, based in Hyderabad, recently won a legal battle against TSSPDCL regarding compensation for a 1.0 MW solar plant. The dispute arose when the plant’s long-term open access permissions expired, but Sai Adithya continued supplying power to TSSPDCL without a compensation agreement. TSERC ruled in favor of Sai Adithya, considering the energy as “deemed banked energy” and directed compensation based on average pooled power purchase cost. This decision highlights challenges in renewable energy compensation and emphasizes the need for regulatory reforms.
Karnataka Electricity Regulatory Commission Introduces Draft Framework For Resource Adequacy Regulations, 2024
KERC introduced draft regulations for Resource Adequacy (RA) in Karnataka’s electricity sector, focusing on efficient and reliable generation planning. These rules cover demand forecasting, generation resource planning, and procurement strategies for stakeholders like generating companies and distribution licensees. Emphasis is placed on assessing and integrating renewable energy sources while maintaining reliability standards. The regulations aim to optimize electricity supply, promote renewable energy integration, and set benchmarks for effective energy planning.
DERC Approves BSES Rajdhani Power’s 20MW/40MWh Battery Energy Storage Project
DERC approved BRPL’s collaboration with Kilokari BESS for a 20MW/40MWh energy storage system, with a unified tariff model at Rs 57 lakh per MW annually. BRPL filed a petition under the Electricity Act, 2003, for this project, which aims to enhance grid stability and support renewable energy integration. The DERC endorsed the project, ensuring financial gains are passed on to consumers as a net offset in the power purchase cost.
KPI Green Energy Limited Board Approves Fundraising of Up to ₹1,000 Crores
KPI Green Energy Limited’s Board of Directors approved raising ₹1,000 Crores through a Qualified Institutions Placement (QIP). The fundraising involves issuing equity shares or equity-linked securities convertible into shares, subject to regulatory approvals and a special resolution from shareholders. This initiative aims to support growth objectives and enhance the company’s capital structure, demonstrating a strategic commitment to expanding renewable energy operations. Shareholders will be informed about the approval date for this significant fundraising endeavor.
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