Welcome to another issue of our India x Cleantech series! On a monthly basis, we bring together news from all cleantech sectors in India into a single, concise roundup article about the country.
Investments in clean technologies
ReNew Power secures $1 billion loan
ReNew Power Global secured a $1 billion loan from a consortium of 12 international lenders. The consortium was led by Rabobank. The loan will be used to set up a 1.3 gigawatt solar/wind hybrid project. ReNew secured this project through a competitive auction conducted by the Solar Energy Corporation of India. In April this year, the company had sold a 49% stake in this project to Mitsui & Co. ReNew Power has a gross portfolio of 12.8 gigawatts.
JSW Energy to Acquire 1.75 Gigawatts of Renewable Energy Capacity
Power generation company JSW Energy has announced plans to acquire 1.75 gigawatts of solar and wind power capacity from renewable energy project developer Mytrah Energy. JSW Energy will acquire this capability through 17 special purpose vehicles for an estimated enterprise value of approximately $1.32 billion. The portfolio includes 1.3 gigawatts of wind power capacity and 422 megawatts of solar power capacity.
Norfund, KLP partner for a 300 megawatt solar energy project
Norwegian investment fund Norfund and pension company KLP have agreed to acquire a 49% stake in a solar energy project developed by Enel Green Power. The project, developed in the northwestern state of Rajasthan, will have a capacity of 420 megawatts (DC)/300 megawatts (AC). The two investors will pay $35.1 million for this transaction.
NHPC and BEL announce their intention to create a Gigafactory of solar modules
State-owned NHPC and BEL have signed an agreement to set up a gigawatt-scale plant for the production of solar power equipment. The two companies did not share any details about the proposed plant, except that it would be a vertically integrated solar manufacturing facility.
Assam expected to have 2 gigawatts of solar power capacity in four years
Assam, located in the northeastern part of India, is expected to have an installed solar power capacity of 2 gigawatts over the next four years. The state is expected to attract $1.3 billion for the establishment of this capability. The state government has signed agreements with a state-owned company, NLC India Limited, and the Asian Development Bank, for the development of large-scale solar power projects in the state.
Module Maker Vikram Solar Gets IPO Approval
The Securities and Exchange Board of India has given the go-ahead for an initial public offering to module maker Vikram Solar. The company plans to use the proceeds from this fundraising activity to set up a new production line for 2 gigawatt solar modules. As of December 2021, the company had an order backlog of $620 million.
The government could encourage the manufacture of offshore wind turbines
According to media reports, the Indian government may consider offering production-related incentives for the manufacture of offshore wind turbines. The government has set a target of having 30 gigawatts of offshore wind capacity by the end of this decade. The new program could be similar to the $3 billion production-linked incentive program for solar module manufacturing.
Renewable energy and storage
Amp Energy signs 100 megawatt solar power contract
Amp Energy India has signed an agreement with Rewa Ultra Mega Solar Limited to set up a 100 megawatt floating solar project in the state of Madhya Pradesh. The project will be implemented at Omkareshvara Reservoir. The total size of the floating solar park is envisaged at 600 megawatts and will be developed in two phases of 300 megawatts each.
Government-owned SJVN secures 200 megawatt solar power project
SJVN Limited, a government-owned hydropower generation company, has announced that it has secured development rights for a 200 megawatt solar power project in the western state of Maharashtra. Electricity generated by the project will be purchased by the state electric utility. SJVN was awarded the project through a tender process conducted by Maharashtra State Electricity Distribution Company Limited for a total capacity of 500 megawatts.
NTPC fully commissions 296 megawatt solar power project
NTPC announced that it has commissioned 48.8 megawatts of capacity under a 296 megawatt solar power project in Fatehgarh, Rajasthan. NTPC was awarded this project through a competitive auction under the Viability Gap Financing Program in 2019. The tender was launched by the Solar Power Corporation of India. The project was executed by Adani Infra India Limited.
Chinese tracker company Arctech opens factory in India
Arctech Solar has opened a 3 gigawatt solar tracker manufacturing facility in India. The facility was launched in joint venture with Jash Energy and is located in the western state of Gujarat. According to media, Arctech Solar was the largest tracker supplier in India in 2021 with a 45% share. According to the company, the location of its factory and the joint venture with Jash Energy will give it easy access to international markets such as the Middle East and Africa.
Tata Power commissions 225 megawatt solar power project
Tata Power Renewable Energy, a subsidiary of integrated power utility Tata Power, announced the commissioning of a 225 megawatt solar power project. The electricity from this project will be supplied to another company in the group, Tata Power Mumbai Distribution. The project is part of a solar/wind hybrid project. Tata Power Renewable Energy will use 96 megawatts of existing wind power capacity to supplement the newly commissioned solar power project to provide hybrid power.
Siemens Gamesa wins 346 megawatt wind turbine order
Siemens Gamesa has landed an order to install 346 megawatts of wind turbines for NYSE-listed Azure Power. According to the press release issued by the turbine manufacturer, 96 units of the SG 3.6-145 model will be installed on a project in the southern state of Karnataka. This is Azure Power’s first wind energy project; the company has a portfolio of 7.4 gigawatts. Siemens Gamesa is one of India’s leading turbine manufacturers and recently surpassed 8 gigawatts of installed capacity in the country.
Greenko Energy to develop 400 megawatt renewable energy for Hindalco
One of India’s leading renewable energy developers, Greenko Energy Holdings, will develop a 400 megawatt solar/wind hybrid project for aluminum maker Hindalco. The project will supply Hindalco’s aluminum smelter located in Odisha. Greenko will provide round-the-clock supply to the smelter using its pumped hydroelectricity storage facility in Andhra Pradesh. The project is expected to offset approximately 680,000 tonnes of carbon dioxide emissions each year.
Inox Wind secures a 200 megawatt NTPC project
Indian wind turbine maker Inox Wind has won an order to supply 200 megawatts of wind turbines to state-owned power company NTPC Limited. Inox Wind will supply 100 units of the DF 113/92 wind turbine for a project to be commissioned in the western state of Gujarat. The project is expected to be commissioned by January 2024. Last year, Inox Wind secured another order for 150 megawatts of capacity from NTPC Limited for a project also located in Gujarat.
Originally posted on Future Trends.
Do you appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador – or a patron on Patreon.
Don’t want to miss a cleantech story? Sign up to receive daily updates from CleanTechnica via email. Or follow us on Google News!
Have a tip for CleanTechnica, want to advertise or suggest a guest for our CleanTech Talk podcast? Contact us here.
#India #Cleantech #September