ADB Approves $240.5 Million For Rooftop Solar Systems To Boost India’s Renewable Energy Goals
The Asian Development Bank (ADB) has allocated $240.5 million in loans for rooftop solar systems in India, supporting the government’s renewable energy expansion. This funding, part of the Solar Rooftop Investment Program’s second and third tranches, aids India’s goal to achieve 50% non-fossil fuel capacity by 2030. ADB’s financing, directed through SBI and NABARD, promotes nationwide rooftop solar installations, aligning with environmental objectives to reduce carbon emissions and enhance energy resilience.
MERC Approves 1,600 MW Thermal, 5,000 MW Solar Projects For Maharashtra
The Maharashtra Electricity Regulatory Commission (MERC) recently approved MSEDCL’s petition for two key projects: procuring 1,600 MW of thermal power and 5,000 MW of solar power. This aims to meet rising energy demands through streamlined bidding processes aligned with current policies. MSEDCL’s strategy includes long-term contracts covering 75-80% of needs, addressing a projected demand increase from 26,558 MW to 39,884 MW by 2031-32. The initiative underscores commitment to reliable power supply, integrating renewable sources to meet Renewable Purchase Obligations, and enhancing energy portfolio diversity.
EESL Invites Bids For Supply Of 2,000 MW Single Phase Solar Inverters Across India
Energy Efficiency Services Limited (EESL) seeks bids for supplying 2,000 MW of Single-Phase Solar Inverters nationwide. The tender, employing Single Stage Two Envelope Bidding, mandates compliance with detailed Qualifying Requirements. Bids must be submitted by August 5, 2024, 11:00 AM (IST), with a pre-bid meeting scheduled. The contract spans 12 months from issuance of the Letter of Acceptance, ensuring fixed pricing.
RERC’s Path To Grid Stability: Rajasthan’s Pursuit Of 1,000 MW Pump Storage Energy Solutions
Rajasthan Electricity Regulatory Commission (RERC) received a petition from Rajasthan Urja Vikas & IT Service Limited, representing Jaipur, Ajmer, and Jodhpur’s distribution licensees, seeking approval for a 1,000 MW pump storage-based energy solution tied to the Central Transmission Utility. The petition, aiming to meet state energy demands and Renewable Purchase Obligation (RPO), highlighted the need for long-term power procurement from wind-solar hybrid projects with storage. RERC directed the petitioner to issue a Request for Proposal (RfP) promptly, aligning with Ministry of Power guidelines for energy security.
Rajasthan’s 1,000 MW Solar Power Procurement: Record-Low Tariffs Of ₹2.61/kWh
Rajasthan Electricity Regulatory Commission (RERC) reviewed Rajasthan Urja Vikas & IT Service Limited’s petition for procuring 1,000 MW of solar power at ₹2.61 per kWh through competitive bidding. Following the e-Reverse Auction on May 4, 2023, Letters of Award were approved by RUVITL’s board on June 9, 2023, pending state government approval. The procurement aims to meet Renewable Energy Purchase Obligations (RPO) and ensure sustainable power supply in Rajasthan.
Rays Power Infra Secures ₹833 Crores In New Solar Projects For Q2 2024
Rays Power Infra, a leading solar EPC solutions provider in India, acquired projects worth INR 833 crores in Q2 2024, adding over 680 MW to its portfolio across two states. The company anticipates over 50% growth in revenue and profitability for the fiscal year, emphasizing expansion in solar park development and EPC services. Founded in 2011, it has implemented 1,207 MWp of solar projects and launched a subsidiary for solar module and BESS manufacturing.
SJVN Launches Tender For 1,200 MW Wind-Solar Hybrid Projects
SJVN Limited, appointed as the Renewable Energy Implementing Agency, seeks proposals for 1,200 MW ISTS-connected Wind-Solar Hybrid Power Projects. Aligned with Ministry guidelines, the Tariff-Based Competitive Bidding process involves Technical and Financial Bids followed by an e-reverse Auction. Bidders must offer 50-400 MW capacity, with at least 33% from wind or solar. Key dates include a Pre-Bid Meeting on July 29, 2024, bid submission by August 28, 2024, and bid opening on August 30, 2024.
ADB and ENGIE SA Partner To Construct 400 MW Solar Power Plant In Gujarat, India
ADB and ENGIE signed a $175.9 million loan agreement to build a 400 MW solar plant in Gujarat, India. ADB and AIIB contributed equally to the 14.6 billion INR loan. The project supports India’s goal of 500 GW of nonfossil fuel capacity by 2030. ADB’s Suzanne Gaboury highlighted private-sector climate action. The plant, using local bifacial PV modules, will cut 662,441 tons of CO2 annually. ENGIE’s Enren Energy will implement, with Gujarat Urja Vikas as the sole off-taker.
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