REC Limited Secures JPY 31.96 Billion Green Loan For Sustainable Projects In India In Collaboration With Deutsche Bank AG, GIFT City
REC Limited has achieved a significant milestone in sustainable development by securing a green loan of JPY 31.96 Billion (approximately USD 200 million) to fund eligible green projects in the country. This strategic financing underscores REC’s commitment to fostering sustainable growth in line with its Green Finance Framework. This green loan marks a pioneering collaboration between an Indian government entity and Deutsche Bank AG, GIFT City branch, setting a new standard in green financing within the Indian public sector. It also represents one of Deutsche Bank AG’s initial JPY-denominated green loan transactions from its GIFT City branch.
Assam Electricity Regulatory Commission Introduces Draft Tariff Regulations 2024 For Renewable Energy
The Assam Electricity Regulatory Commission (AERC) will implement new regulations, “Terms and Conditions for Tariff Determination from Renewable Energy Sources, 2024,” on July 1, 2024. Effective until March 31, 2027, these regulations promote renewable energy by establishing fair, project-specific tariffs for various renewable sources. The guidelines ensure transparency and accountability, encouraging investment and development in Assam’s renewable energy sector, and contributing to a sustainable and resilient energy system.
RMC Switchgears Limited Pioneers Into Solar EPC Sector With Landmark ₹4.76 Crore Order For 1.35 Mwp Solar Power Plant In Rajasthan
RMC Switchgears Limited is making a big push into renewable energy with their new Solar EPC (Engineering, Procurement, and Construction) venture. Their first project is a 1.35 MWp solar power plant in Rajasthan, valued at ₹4.76 crores. This move aligns with their commitment to sustainability and positions them as a leader in India’s green energy revolution. The company has set a target of securing 1 GWp in EPC contracts within a year.
NTPC Renewable Energy Limited Invites Bids For 795 MW Solar PV Projects At Khavda RE Power Park
NTPC Renewable Energy Limited (NTPC REL) has announced an invitation for online bids from eligible bidders for an EPC package to develop 795 MW of Solar PV projects at Khavda RE Power Park, located in the Rann of Kutch. The bidding process will follow a Single Stage Two Envelope system, comprising Envelope-I: Techno-Commercial Bid and Envelope-II: Price Bid. The project involves designing, engineering, manufacturing, supplying, and installing a solar photovoltaic (PV) plant.
SECI Launches Major RFS To Boost Green Hydrogen Production In India Under SIGHT Scheme
The Solar Energy Corporation of India (SECI) has issued a Request for Selection (RfS) under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme, aiming to establish green hydrogen production facilities with a capacity of 4,50,000 MT/annum. The deadline for bid submissions is August 23, 2024. This initiative, part of the ₹19,744 crore National Green Hydrogen Mission, seeks to incentivize domestic manufacturing and reduce costs for rapid scale-up and technology development.
Brookfield Acquires Majority Stake In Leap Green Energy: Strategic Investment To Propel Tamil Nadu’s Renewable Energy Sector Towards 3 GW Expansion
Brookfield has announced an equity investment in Leap Green Energy, a renewable energy platform based in Tamil Nadu, focused on providing clean energy solutions to commercial and industrial (C&I) customers. Through definitive strategic investment agreements, Brookfield has acquired a majority controlling stake in Leap Green. The initial investment exceeds US$200 million, comprising both new share subscriptions and share acquisitions from current shareholders. Additionally, Brookfield retains the option to infuse an extra US$350 million to support future growth, aiming to expand the platform to over 3 GW within the next four to five years.
Torrent Power’s 450 MW Wind-Solar Hybrid Tariff Approval: GERC Deliberations And Future Steps
On 10th July 2024, the Gujarat Electricity Regulatory Commission (GERC) reviewed Torrent Power Limited’s (TPL) petition to approve the tariff of ₹3.65 per unit for procuring 300 MW of wind-solar hybrid power, plus an additional 150 MW under a Greenshoe option. After a competitive bidding process, TPL was selected. The GERC requested further details on tariff and capacity utilization factors, with TPL to submit the information within ten days.
GERC Reviews PGVCL’s Petition For 259 MW Solar Power Tariff Approval Under PM-KUSUM-C Scheme
The Gujarat Electricity Regulatory Commission (GERC) reviewed Paschim Gujarat Vij Company Limited’s (PGVCL) petition for tariff approval for 101 solar power plants (259.0 MW) under the PM-KUSUM-C Scheme. The GERC emphasized public participation, directing PGVCL to issue notices and upload relevant documents online. The next hearing is set for August 8, 2024. This initiative aims to enhance solarization, support agriculture, and align with India’s renewable energy goals.
EESL Announces Annual Rate Contract For Supply Of 2000 MW Single Phase Solar Inverters Across India
Energy Efficiency Services Limited (EESL) invites bids for an Annual Rate Contract to supply 2,000 MW single-phase solar Inverters across India. The contract, valid for 12 months, requires design, manufacturing, testing, and supply as per specifications. Key dates include a pre-bid meeting on July 18, 2024, and bid submission by August 5, 2024. Separate Earnest Money Deposits (EMD) are required for each package, ranging from ₹4.2 crore to ₹7.36 crore.
Juniper Green Energy Secures Major PPAs With GUVNL And NTPC For 480 MW Wind-Solar Hybrid Projects
Juniper Green Energy has signed two major PPAs for 480 MW of hybrid renewable energy projects. With GUVNL, the 190 MW project (140 MW solar, 50 MW wind) in Gujarat will generate 412 MUs annually, offsetting 384,067 tonnes of CO2. The NTPC partnership, their largest, includes 290 MW (210 MW solar, 80 MW wind) across Gujarat and Maharashtra, producing 633 MUs annually and reducing CO2 by 590,810 tonnes.
Godrej Electricals & Electronics Commissions 12.5 MWp Rooftop Solar Project In Madhya Pradesh
Godrej Electricals & Electronics has commissioned a 12.5 MWp rooftop solar project at a textile facility in Madhya Pradesh, covering over one million square feet. This project ranks among India’s top three largest rooftop solar installations and is the largest in Madhya Pradesh, showcasing Godrej’s commitment to renewable energy across various sectors like cement, textile, automobile, and pharmaceuticals.
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