Larsen & Toubro Wins EPC Contracts For Transmission Projects In Saudi Arabia, Malaysia, And Thailand

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31st March 2023

Yokogawa Electric Corporation announces the release of OpreX^TMAsset Health Insights (2.0), an enhanced version of the company’s cloud-based plant asset monitoring service, which is part of the OpreX Asset Management and Integrity family. In addition to having powerful new embedded asset monitoring and management functions, this latest version now supports implementation on Alibaba Cloud – Yokogawa’s first technical partnership with Alibaba Cloud. The Asset Health Insights service collects, refines, and aggregates operational technology (OT) data from distributed assets as well as process data, orchestrating them to form a single source of truth for real-time asset modeling and monitoring in a secured environment. This service gives organizations a 360-degree view of operational assets that eases the task of asset management and improves operational efficiency, performance, and decision-making.

Development Background

Driven by its customers’ focus on integrated, remote, and increasingly autonomous operations, Yokogawa launched OpreX Asset Health Insights on June 6, 2022, to make asset data more visible, integrated, and actionable.

The original version of Asset Health Insights supported Amazon Web Services and Microsoft Azure. However, as the number of users of Alibaba Cloud has continued to expand, making it China’s largest^#1cloud platform, Yokogawa has chosen to add support for Alibaba Cloud. Furthermore, to meet the growing demand for robust asset monitoring and management capabilities, and the need for greater protection against cyber-attacks, the company has enhanced the functionality of Asset Health Insights with the addition of new features.

Main Features

1. Alibaba Cloud support

Full integration with Alibaba Cloud has been achieved. Asset Health Insights can now be hosted on Alibaba Cloud, and customers can also connect their existing data in Alibaba Cloud to Asset Health Insights, giving them unprecedented flexibility on where to host applications and data. Chinese language support has also been added, in addition to English, Japanese, and Korean.

2. 2D and 3D graphics to improve operability

Both 2D and 3D process graphics are now supported, affording users greater flexibility in how to interactively visualize and display the status of assets such as pumps, motors, and chillers. Self-service tools that allow users to design location graphics and bind various types of real-time asset data are also provided.

3. ISA 18.2 compliant alarm management support

Based on the “Management of Alarm Systems for Process Industries” issued by the International Society for Automation (ISA), users can now create ISA 18.2^#2compliant alarms based on various parameters to standardize work processes. They can also check an audit trail to identify who acknowledged an alarm and when the alarm occurred.

#1 Synergy Research Group: APAC Region Cloud Provider Market Share, 2021 Q4, published in March 2022. #2 ISA-18.2 is a comprehensive standard developed per stringent methods based on openness, balancing of interests, due process, and consensus (isa.org).

Major Target Markets

Oil and gas, petrochemicals, chemicals, iron and steel, pulp and paper, electric power, and wastewater treatment

Applications

Asset monitoring, asset performance management, sustainability/energy management, and data management

More Information:

Asset Health Insights: http://www.yokogawa.com/ahi 

About OpreX

OpreX is the comprehensive brand for Yokogawa’s industrial automation (IA) and control business. The OpreX name stands for excellence in the technologies and solutions that Yokogawa cultivates through the co-creation of value with its customers, and encompasses the entire range of Yokogawa’s IA products, services, and solutions. This brand comprises the following five categories: OpreX Transformation, OpreX Control, OpreX Measurement, OpreX

Execution, and OpreX Lifecycle. Asset Health Insights, an OpreX Asset Management and Integrity family solution, is in the OpreX Transformation category. OpreX Transformation delivers operational excellence throughout an enterprise’s activities, from production through to supply chain optimization and risk and business management.

Oman’s Foreign Minister Attends Berlin Energy Transition Dialogue To Discuss Renewable Energy

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31st March 2023

A file photo of Oman's Foreign Minister attends Berlin Energy Transition Dialogue to discuss renewable energy

Oman’s Foreign Minister Sayyid Badr Albusaidi is representing Oman at the Berlin Energy Transition Dialogue, which is being held in the German capital.

The two-day conference is discussing the challenges facing the world in the field of energy and how to switch to renewable, more sustainable energy sources, reflecting the international trend towards a green future. It aims to provide an opportunity to exchange experiences and ideas on a safe, environmentally responsible global energy transition.

A large number of foreign ministers, energy ministers, and experts in energy and related policies from the private sector are taking part.

Oman’s Foreign Minister is attending at the joint invitation of Annalena Baerbock, German Federal Foreign Minister, and Dr. Robert Habeck, Federal Minister for Economic Affairs and Climate Protection.

Sayyid Badr’s participation reflects Oman’s commitment to strengthening international cooperation and national policies to combat the effects of climate change and to achieve carbon neutrality by 2050, in line with global trends to reduce carbon emissions.

Larsen & Toubro’s PT&D Business Secures EPC Orders for Gas Insulated Substations in India’s Renewable Energy Zones

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31st March 2023

Larsen & Toubro’s Power Transmission & Distribution (PT&D) Business has secured multiple domestic EPC orders to establish gas insulated substations in large renewable energy zones in India.

As the country’s power generation evolves, Large Renewable Energy (RE) zones are being developed that house several solar and wind projects from various developers in contiguous land parcels. The power generated from such individual projects is collected at pooling substations, located in the vicinity, and then re-distributed to intra-state and inter-state transmission networks.

The Khavda RE park in Gujarat’s Kutch region and the Kurnool district of Andhra Pradesh are two such zones where the PT&D Business has won orders for establishing 765kV and 400kV gas insulated substations to serve as pooling substations.

The substation packages include more than 7 km of gas insulated bus ducts, bus reactors, and protection & automation systems.

Additionally, the PT&D Business has bagged orders to develop distribution infrastructure in two circles of Rajasthan’s prominent discom.

L&T operates in over 50 countries worldwide and has a customer-focused approach that has enabled it to attain and sustain leadership in its major lines of business for eight decades.

KPI Green Energy Receives 10 MW Solar Power Plant Orders Under CPP Segment

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31st March 2023

KPI Green Energy Limited has announced the receipt of new orders for executing a 10 MWdc solar power project under its Captive Power Producer (CPP) segment.

Out of the 10 MWdc capacity, KPI Green Energy Limited will undertake 1 MWdc capacity, while its wholly-owned subsidiary, M/s. Sun Drops Energia Private Limited, will execute 9 MWdc capacity.

The company revealed the development in a disclosure statement under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Last month KPI Green Energy Limited, has received Commissioning Certificates from Gujarat Energy Development Agency (GEDA) for a 31 MWdc solar power project under the Captive Power Producer (CPP) segment. The project is for three clients, Creative Technologies, Colourtex Industries Pvt. Ltd., and Aether Industries Ltd., and the capacity allocated to each client is 0.5 MWdc, 10 MWdc, and 16 MWdc, respectively.

Company had also signed a long-term (20-year) Hybrid Power Purchase Agreement (PPA) for 1.845 MWAc capacity with M/s. Garrison Engineer, Military Engineer Services, Air Force Station, Jamnagar under Independent Power Producer (IPP) segment.

India and Sri Lanka to Jointly Build 135 MW Solar Power Plant in Trincomalee

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31st March 2023

India and Sri Lanka have agreed to work together on building a 135-megawatt solar power plant in Trincomalee, Sri Lanka, with the aim of promoting renewable energy.

The project will be implemented in two stages, with a 50-megawatt solar power project and a 220-kilowatt transmission line with a length of 40 km to be constructed in the first stage.

The estimated cost of the first stage is USD 42.5 million, and it is expected to be completed between 2024 and 2025.

In the second stage, an additional 85-megawatt solar power generation plant will be constructed at a total investment of USD 72 million.

Sri Lanka has set a goal of generating 70% of its electricity requirement from renewable energy sources by 2030.

India has expressed a willingness to cooperate with Sri Lanka to promote and strengthen the use of renewable energy sources, including solar and wind power, coastal wind, and biomass.

In September last year, Power and Energy Minister Kanchana Wijesekara said that Sri Lanka intends to seek an Indian credit line for the purchase of solar panels as a solution to mitigate the high cost of electricity tariffs.

“We have the problem of foreign exchange, making it difficult to pay for imports. One solution we have to think is to have a credit line from India or China as panels are imported from them,” Wijesekara told parliament.

In August, Sri Lanka hiked the electricity tariff by an average of 75 per cent, after nine years. The government is facing criticism from the Buddhist clergy, who claim that their monthly bills had reached unbearable levels.

Wijesekara said there are over 48,000 consumer connections for religious places. Over 15,000 of them were consuming less than 30 units per month and therefore are not affected in a big way by the tariff hike. Wijesekara said for the rest of the religious sites, which include Buddhist temples, churches, Hindu kovils (temples) and mosques, he was advising to install solar panels.

India has been the biggest provider of aid this year to its southern neighbour, which is fighting its worst economic crisis in more than seven decades and struggling to pay for imports.

Overall, the collaboration between India and Sri Lanka in the energy sector is aimed at promoting the use of clean energy sources and reducing the dependence on fossil fuels.

Tata Power Board Approves Re-appointment of Dr. Praveer Sinha as CEO and MD

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30th March 2023

Mr-Praveer-Sinha-CEO-MD-Tata-Power-2-2 — Dr. Praveer Sinha, CEO & MD, Tata Power

Dr. Praveer Sinha has been re-appointed as the CEO & Managing Director of The Tata Power Company Limited for a period of four years, starting from May 1, 2023, until April 30, 2027, subject to the approval of Members of the Company.

Dr. Sinha is a seasoned power professional with almost four decades of experience and has held several leadership positions across the power sector value chain. He played a crucial role in driving the turnaround of Tata Power Delhi Distribution Limited through technological and social interventions, setting a benchmark operational model for other discoms and developing countries to follow.

Under his current leadership, Tata Power is transforming itself into a new-aged sustainable, technology-oriented, and customer-centric green energy solutions company. Dr. Sinha has led multiple partnerships with national and international technology partners and institutional associations and has contributed significantly towards setting up the first international incubator in India for promoting innovations in the clean energy space.

Dr. Sinha is the Chairman of CII Western Region council and co-chairs the CII National Committee on Power. He is a qualified Electrical Engineer and has also done his Master’s in Business Law. He received his Ph.D. from Indian Institute of Technology, Delhi, and is a visiting Research Associate at Massachusetts Institute of Technology (MIT), Boston, USA. His current tenure as a CEO & Managing Director will conclude on April 30, 2023.

Sterling and Wilson Selects Nextracker to Supply Solar Trackers for NTPC’s 1.255 GW Solar Project in Gujarat

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30th March 2023

Nextracker, one of the world’s leading providers of intelligent solar tracker and software solutions, today announced the signing of an agreement with Sterling and Wilson Renewable Energy Limited, one of the leading RE EPC and O&M solutions provider in the world, to deliver its award-winning solar trackers to NTPC Renewable Energy Limited’s 1.255GW Solar PV Project in Khavda RE Park, Gujarat.

Sterling and Wilson Renewable Energy Limited is implementing this 1.568 GWp Solar PV project in NTPC REL’s Khavda RE Park, Gujarat, using Nextracker’s optimized bifacial solar tracker for additional energy gain.

Commenting on the partnership, Mr. Amit Jain, Global CEO of Sterling and Wilson Renewable Energy Group said, “Nextracker has been a great partner for us in India and in the global markets we serve, and we are glad to associate with them for this project. Together, we aim to deliver a landmark project and contribute to India’s renewable energy targets”. “At Sterling and Wilson Renewable Energy, we always aim to deliver spectacular, high-quality, cost-efficient and timely solar energy solutions, and achieve utmost customer satisfaction”, he added.

Due to improved tracker design efficiencies, there is an upward trend for the adoption of solar trackers combined with bifacial module technology in India. In addition to supplying solar tracker technology, components will be made with locally made steel from factories in Gujarat. The project is slated to be operational by first half of 2024.

“We are incredibly proud to be partnering with our long-time customer, Sterling and Wilson and India’s largest power public sector utility, NTPC,” said Nextracker founder and CEO, Dan Shugar. “The Khavda project is a phenomenal venture to be a part of where we can support Make in India with more than 90% of our system components by weight, manufactured in the country and it supports India’s target to reach 500 GW of renewable energy by 2030.”

With five gigawatts of manufacturing capacity in India annually, the company is successfully operating twenty-five projects successfully across India to further support the nation’s decarbonisation goals and contribute to critical programs like National Solar Energy Mission and global initiatives like One Sun, One World, One Grid.

The Khavda project expands Nextracker’s gigawatt portfolio in India. The company’s second largest office is in Hyderabad with over two hundred dedicated employees collaborating with customers across the continent and the Middle East with deep expertise to support the life cycle of every project.

Why Renewable Energy is a More Affordable Solution Than Carbon Capture Technology for Power Sector: IEEFA Report

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30th March 2023

A report by the Institute for Energy Economics and Financial Analysis (IEEFA) has found that adding carbon capture and storage (CCS) to fossil-fired power plants will have unsustainable implications on electricity prices, affecting the public, businesses and governments.

The report says the economic case for CCS in the power sector is weak due to uncertainties around input costs, funding, technology failures and improvements in alternative renewable energy sources such as wind and solar.

The report also highlighted environmental concerns and the fact that the actual costs of deploying CCS and its cost trajectory remain unclear. With no new power plants having been built with CCS at a commercial scale, the cost of retrofitting existing plants will significantly increase facility capital expenditure, operating and fuel costs, affecting the case for investment.

Proponents of CCS provide low-cost forecasts that are a long way from estimates and do not include a range of other costs including transport, storage, monitoring and possible remediation or penalties. If funded through electricity prices, applying CCS could increase wholesale electricity prices, which would then be passed onto energy consumers.

The report compared the levelized costs of electricity (LCOEs) for thermal power generation with CCS and found them to be at least 1.5-2 times above current alternatives, which include renewable energy plus storage. Renewable energy sources and battery storage systems are expected to become more cost-competitive in the long-term.

B.Grimm Power’s Subsidiary Acquires Lotuscom; To Expand Solar Rooftop Business In Vietnam

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30th March 2023

B.Grimm Power, through its subsidiary Amata B.Grimm Vietnam Company Limited, has acquired Lotuscom Limited Liability Company in Vietnam. The company operates in the solar rooftop business and is incorporated under the Laws of the Socialist Republic of Vietnam.

With the acquisition, Lotuscom Limited Liability Company and its subsidiaries become subsidiaries of B.Grimm Power. The total investment for the acquisition was VND 4,800,000,000, and the source of funds was Amata B.Grimm Vietnam Company Limited’s working capital.

B.Grimm Power Public Company Limited is a leading energy company in Thailand, engaged in the generation and distribution of electricity and steam, as well as renewable power projects such as solar, wind, and hydropower.

With a strong focus on sustainability and innovation, B.Grimm Power has a growing presence in Southeast Asia, including Vietnam, Laos, and Cambodia, and aims to expand its operations further in the region. The company is committed to driving the energy transition toward a cleaner and more sustainable future.

Solgenics Announces Update on Off-take Discussions for 100 MW Tete Solar Project in Mozambique

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30th March 2023

Solgenics Ltd, a southern Africa-focused solar energy company, has announced an update on offtake discussions for its Tete Solar Project in Mozambique. The first phase of the renewable energy project involves the development of a 100 MWp solar plant along with a battery energy storage facility.

Solgenics has signed several non-disclosure agreements (NDAs) with potential power off-takers for the first phase of the project, demonstrating remarkable progress toward its development. The solar energy company has updated its project development program to deliver a bankable feasibility study (BFS), following the project feasibility study completed earlier this year.

The bankable feasibility study involves the completion of several key project work streams including the market sounding on power tariff key assumptions, signing of power purchase agreements (PPA) with off-takers, and power tariff approval of the off-taker. It also comprises the completion and Govt.’s approval of the environmental and social impact assessment (ESIA) studies of the solar project.

The estimated cost of the BFS will be around $1.5 million, which would be secured before the launching of any project workstreams. Solgenics has launched a funding strategy to secure the funding, focusing on non-dilutive mechanisms. The company targets project development loans from development finance institutions & private power developers and plans to select the funding partner in the second quarter of the year.

According to Hanno Pengilly, CEO of Solgenics, the BFS budget has been updated based on off-takers participation and will take around 9 to 12 months once the project financing is secured. The study will help increase confidence levels around the power tariff input assumptions.

Pengilly also added that Solgenics has entered a rousing stage of project development. The future solar project aims for a 25-year-long PPA. The power purchase agreement process will be delivered in a total of three phases, the first phase being the finalization of the project’s tariff.

Grenergy Signs a PPA with LyondellBasell for 259 MW Solar Project in Europe

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30th March 2023

Grenergy, the listed renewable energy producer and specialist in the development, construction and management of photovoltaic, wind and storage projects, has signed a long-term power purchase agreement to supply LyondellBasell with green energy from the 259 MWp La Cereal solar farm, which belongs to the 575 MWp Clara Campoamor complex, as the company reported to the National Securities Market Commission (CNMV).

The agreement that Grenergy has signed with the multinational company based in the Netherlands provides a long-term energy contract of approximately 330 GWh per year, and will have a duration of 15 years, becoming active at the end of 2025.

LyondellBasell has a BBB+ rating issued by Fitch Ratings.

The contract has been signed for a project that is part of the Clara Campoamor PV solar energy project, that the company is developing between Madrid and Castilla La Mancha region, and that will have an installed capacity of 575 MWp, becoming one of the largest photovoltaic parks in Europe. Specifically, the energy will come from La Cereal, one of the parts this plant has been divided.

This PPA will help to optimise the financing of Grenergy’s largest project to date in Spain. Its development also strengthens the weight of the European portfolio, which the company expects to double from the current 25% to 45% by 2025.

The listed company currently has a portfolio of 11.7 GW of solar and wind projects under development and 7.7 GWh in storage projects pipeline, with a target of 5 GWh of solar and wind and s 1 GWh of storage between operation and construction by 2025.

According to David Ruiz de Andrés, CEO of Grenergy, “having a proven structure and ability to close PPAs is key to keep up the pace of connections and achieve our strategic targets”.

DEWA Welcomes General Electric’s Global Chief Of Strategy & Operations To Discuss Clean Energy Initiatives

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30th March 2023

A file photo of DEWA welcomes General Electric's Global Chief of Strategy & Operations to discuss Clean Energy Initiatives

In line with the keenness of Dubai Electricity and Water Authority (DEWA) to enhance cooperation with international companies and exchange best international experiences and practices, HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, welcomed Dr. Dalya Al Muthanna, President of General Electric (GE) in the UAE and Global Chief of Strategy & Operations for GE International Markets. The meeting was attended by Waleed Bin Salman, Executive Vice President of Business Development and Excellence at DEWA.

During the meeting, Al Tayer welcomed Dr. Al Muthanna and talked about DEWA’s strategic projects in renewable and clean energy that achieve the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100% of Dubai’s total power production capacity from clean energy sources by 2050.

Al Tayer highlighted DEWA’s ambitious clean and renewable clean energy initiatives to enhance the infrastructure for electricity and water services in Dubai according to the highest international standards. He highlighted a number of DEWA’s key projects, most notably the Mohammed bin Rashid Al Maktoum Solar Park, with a planned capacity of 5,000 megawatts (MW) by 2030. It is the largest single-site solar park in the world based on the Independent Power Producer (IPP) model, with investments totalling AED 50 billion.

Al Tayer also discussed the fruitful cooperation between DEWA and private sector companies through the IPP projects. DEWA has plans to invest AED 40 billion in capital expenditure in the next five years, including the expansion of renewable and clean energy projects.

The meeting discussed the latest developments in energy, clean and renewable energy, and technologies and solutions in this field. DEWA works closely with GE to adopt and develop innovative, disruptive technologies and digital technologies. The aim is to enhance productivity, efficiency, sustainability, the efficiency of energy use, smart grid integration, and future innovations.

Al Muthanna reiterated GE’s continuous commitment to exploring partnerships with DEWA to support its energy transition journey in the lead-up to COP28 and achieving the UAE Net Zero by 2050 strategic initiative. She also highlighted GE’s solutions and technologies in low-carbon fuels, hydrogen, carbon management, energy efficiency, and electrification as key contributors in clean energy transitions.

ACEN Australia Opens Stage 1 Of New England Solar Project To Generate Clean Energy

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30th March 2023

Stage 1 of ACEN Australia’s New England Solar project was officially opened today by the Hon. Chris Bowen MP, Federal Minister for Climate Change, marking a milestone in the project’s six-year journey to generate clean renewable energy into the National Electricity Market (NEM).

The estimated 936 MWdc (720 MWac) project is being developed in two stages and was approved by the NSW Government in 2020. The first 521 MWdc (400 MWac) stage of the project has been in construction since March 2021. It is one of Australia’s largest solar projects to be participating in the NEM, with Stage 1 requiring the installation of close to a million solar panels.

New England Solar was granted formal registration to send power into the NEM by the Australian Energy Market Organization (AEMO) in December 2022, and since that time, has been generating renewable energy. Stage 1 of the project is expected to be generating at a full nameplate capacity of 521 MWdc (400 MWac) in the coming months.

During construction, up to 400 workers have been on-site during peak activity, upgrading and maintaining roads, installing and building supporting infrastructure, constructing and connecting tracking systems, and installing solar PV modules. Around 80% of this peak workforce has been filled by personnel from the New England region.

Anton Rohner, CEO of ACEN Australia, said, “The event is an important milestone for the energy transformation underway across NSW and Australia. I truly believe that the work ACEN Australia is doing to accelerate Australia’s transition to a renewable energy future is here and now – and it starts with New England Solar. We decided to build New England Solar on a full merchant basis to ensure it is online in time to help replace closing coal-fired power stations in NSW. We wanted to get things built, to decarbonize Australia.”

New England Solar is being built with the support of host landholders, First Nations people, and the Uralla community.

Rohner added, “They are at the heart of what we do, and I want to personally thank them for putting their trust in us. Through their support, we are together in pushing the boundaries of traditional industry thinking and pioneering modern projects for modern energy needs. It’s been a team effort. Together with our contracting partner GLC, we’ve navigated a global pandemic coupled with an extended La Niña leading to extremely challenging weather conditions for the construction team who have executed the project safely.”

ACEN Australia is investing more than AU$ 5 Mn in community funding into Uralla over the next 25+ years as part of New England Solar.

Rohner said, “We understand the importance of sharing in the benefits that our projects can provide. I’m particularly proud of the work already invested through the Uralla Grants Program, under the stewardship of the project’s Community Reference Group, an independent body consisting of Uralla-based members that bring together a mix of skills and deep understanding of the local region, its history, and the people who live here.”

Uralla Grants provides assistance and support to the community to promote community resilience, prosperity, sustainability, and recreation. At the completion of Stage 1 construction, AU$200,000 in grants will have already been delivered.

New England Solar marks the start of ACEN Australia’s journey to take meaningful actions to provide opportunities for Aboriginal people to actively participate in our renewable energy projects.

Rohner said, “Just as the Anaiwan and Gumbaynggirr people have been doing for thousands of years, today we seek to harness the sun’s resources using new technologies. Our Registered Aboriginal Parties have been a part of New England Solar since the beginning, and I’m so pleased they could join us today for this exciting milestone and welcome us to the country.”

Eric Francia, the ACEN president, and CEO, said, “ACEN Australia has around 1 GW capacity worth US$ 1 Bn in construction, and more than 8 GW capacity in the development pipeline. This represents ACEN’s largest investment outside of the Philippines. With this milestone, we reaffirm our commitment to strengthen Australia’s energy security while bolstering its roadmap to a low carbon future as we work towards our goal of 20 GW of renewables by 2030.”

New England Solar is located near Uralla in the NSW Government’s New England Renewable Energy Zone.

Oman’s Foreign Minister Meets With Germany’s Foreign Minister To Discuss Renewable Energy Projects

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30th March 2023

A file photo of Oman's Foreign Minister meets with Germany's Foreign Minister to discuss renewable energy projects

Oman’s Foreign Minister Sayyid Badr Albusaidi met with Annalena Baerbock, Foreign Minister of the Federal Republic of Germany, during his visit to Germany to participate in the Berlin Energy Transition Dialogue.

The meeting discussed the friendship and constructive cooperation between the Sultanate and the Federal Republic.

It focussed on the major joint projects that the two sides aspire to achieve, especially in the fields of renewable energy, green hydrogen, and its promising derivatives and technologies. The two sides discussed how to advance these projects in a way that secures mutual benefits and enhances their strategic partnership.

Both sides stressed their keenness to continue their support for these areas and the importance of encouraging and developing trade, economic, and investment partnerships.

Sayyid Badr expressed his thanks and appreciation to Ms. Baerbock for the invitation to participate in the Berlin Conference. He highlighted Oman’s plans to make the transition from an economy dependent on oil and gas to a prosperous economy based on clean and renewable energy. He also spoke about the Sultanate’s policies to combat climate change and achieve carbon neutrality by 2050.

The two sides also discussed a number of regional and international issues of common concern, stressing the importance of dialogue and diplomacy in resolving differences in order to achieve security, peace, and stability in the world.

The meeting was attended by Maitha bint Saif Al Mahrouqi, Oman’s Ambassador to Germany; Ambassador Khalid Al Muslahi, Head of the Minister’s Office and a number of officials from both sides.

Standard Chartered Bank And Siemens Energy Issues First Green Guarantee For A Solar Project In Qatar

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30th March 2023

black and silver solar panels — Representational image. Credit: Canva

Standard Chartered Bank with Siemens Energy announces the issuance of the first Green Guarantee in Qatar. This historic initiative is a major milestone in increasing responsible and sustainable banking practices in Qatar. It also sets a new standard in the industry.

A Green Guarantee was issued to Qatar for a Solar Power Project being developed in Qatar. It is expected that this project will play a significant role in Qatar’s national climate change plan. This plan aims to reduce Qatar’s carbon footprint and increase its energy independence. This Green instrument supports the project’s success and long-term sustainability.

Daniela Schoeppner, the Vice President of Finance Hub, Middle East for Siemens Energy stated, “The road towards net zero requires partnership and innovation as well as decarbonization. This is evident in the creation of the innovative Green Guarantee, a trading instrument with Standard Chartered that will support the development of a significant solar power project in Qatar .”

Standard Chartered Bank’s Regional Head for Corporate Commercial & Institutional Banking, Mohammed Salama said that the bank was pleased to work with Siemens Energy in the launch of this green warranty. Our sustainability-linked solution is a demonstration of our commitment to sustainable finance and supporting RE projects that contribute to a better future for all. Standard Chartered Bank has been a catalyst for the sustainability agenda in our key markets by leading landmark transactions that support market leaders like Siemens Energy.

The partnership between Standard Chartered Bank and Siemens Energy establishes a new standard in sustainable finance in Qatar. It serves as a model for institutions and companies looking to encourage responsible as well as sustainable financial practices.

West Central Railway Invites Bids for 12.5 MW Rooftop Solar Projects in Jabalpur, Bhopal, and Kota Zones

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30th March 2023

West Central Railway (WCR) has invited bids for the state-wise empanelment of agencies to install rooftop solar projects of 12.5 MW capacity at various locations in the Jabalpur, Bhopal, and Kota zones. The projects will be developed in two capacity ranges up to 100 kW and up to 500 kW.

The last date to submit bids is April 25, 2023, and the projects must be commissioned within 240 days of receiving the work order. The developers must provide comprehensive operation and maintenance services for 25 years.

The cost of the tender documents is Rs. 34,810, and the tender processing fee is Rs. 75,000 per MW at the time of PPA. Bidders must furnish an earnest money deposit of Rs.10.68 lakh/MW and a performance security within 30 days of signing the power purchase agreement.

Bidders must have experience installing a minimum of 200 kW capacity of grid-connected solar rooftop systems in Developer or engineering procurement and construction (EPC) mode before the bid submission deadline.

The successful bidder must sign a PPA for 25 years with the railways. The empanelment duration will be one year from the work order, which may be extended for another year based on agency performance and requests from West Central Railway.

The generated solar power will be utilized solely through the net metering system by the Railways. The successful bidder for each capacity and range for each state will be evaluated independently. Bidders with experience in installing and commissioning a minimum aggregate 1 MW capacity of any grid-connected systems in developer or EPC mode in any sector such as residential, social, industrial, commercial, government, or any other client can also submit bids.

Overall, this initiative will not only help West Central Railway to save on electricity costs, but it will also contribute towards reducing the carbon footprint and promote the use of clean energy in the country.

EBRD Provides Up To EUR 5M Green Loan To ING Leasing To Finance Green Economy Investments In Turkey

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30th March 2023

ING Finansal Kiralama A.S. (ING Leasing) has secured a senior unsecured loan of up to €5 million ($5.6 million) under the Green Economy Financing Facility Turkiye (GEFF) from the European Bank for Reconstruction and Development (EBRD).

The funds will be used to finance eligible sub-projects selected based on technical, financial, and environmental eligibility criteria as per the GEFF Türkiye Policy Statement.

The loan will be the EBRD’s first transaction with INGL, enabling the company to finance green economy investments in energy efficiency, renewable energy, and climate resilience.

The project is expected to promote the transition to environmentally sustainable, low-carbon, and climate-resilient economies in Turkey, contributing toward INGL’s corporate climate governance practices.

The project will be supported by a Technical Cooperation package funded by the Clean Technology Fund, the Türkiye-EBRD Cooperation Fund, and potentially other bilateral donors.

PFC Consulting Transfers Three Transmission Projects to Power Grid Corp, One Aiming to Strengthen Solar Energy Zones in Rajasthan

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30th March 2023

PFC Consulting, a subsidiary of Power Finance Corporation, has announced the transfer of three special purpose vehicles (SPVs) to Power Grid Corporation of India.

The SPVs were established to carry out different transmission projects, with Power Grid Corporation selected as the successful bidder through a tariff-based competitive bidding process. The three transmission projects that have been transferred are Bhadla Sikar Transmission Ltd, Dharamjaigarh Transmission Ltd, and Raipur Pool Dhamtari Transmission Ltd.

Bhadla Sikar Transmission Ltd was set up to establish a transmission system strengthening scheme for the evacuation of power from solar energy zones in Rajasthan, while Dharamjaigarh Transmission Ltd and Raipur Pool Dhamtari Transmission Ltd were incorporated for the establishment of the Western Region Expansion Schemes. The transfer of the projects to Power Grid Corporation was completed on March 28, 2023.

The bidding process sought to select a transmission service provider to set up the transmission system in line with guidelines notified by the power ministry. The transfer of these SPVs is expected to help facilitate the expansion of transmission infrastructure, strengthening the country’s power sector.

Coro Energy Plc Enters Revises Agreement For Potential 3.25 MW Solar Portfolio Acquisition In Vietnam

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30th March 2023