Smart Energy T20-50 Updates Aug 08, 2023 Newsletter

Ministry of Power Unveils Enhanced Guidelines for Solar Projects, Promoting Efficiency and Accountability

The MoP in India has introduced comprehensive guidelines to boost solar PV projects. With provisions for energy storage and a revised PPA period of 20 years, these guidelines also address bid structure, penalties for shortfalls, and project commencement timelines. The move aims to bolster transparency, competition, and investment in the solar sector, ensuring sustainable growth while safeguarding consumer interests.

Uttar Pradesh to Lead Renewable Energy Push with Mega E-Tender for Solar Projects

UPNEDA is spearheading a significant RE drive through a large-scale 'e-tender.' The initiative includes solar street lighting, e-rickshaw charging stations, and smart solar lighting systems. Additionally, under PM KUSUM, the state is launching a Request for Selection for grid-connected solar power plants. The effort aligns with UP Chief Minister’s vision to promote solarization and harness clean energy sources.

MNRE Extends Deadline for Solar Inverter Self-Certification to Boost Compliance

The MNRE has prolonged the self-certification deadline for solar PV inverters until December 31, 2023. In response to a shortage of local test facilities, the extension allows manufacturers more time to conform to industry standards, aiding the smooth implementation of the Quality Control Order, 2017.

Tamil Nadu's Green Energy Corridor Phase-II Gets Green Light for Enhanced Renewable Energy Transmission

MNRE approves Phase-II of the Green Energy Corridor project in TN, aimed at bolstering RE transmission. With 624 ckm of transmission lines and 2200 MVA substations, the project will facilitate 4000 MW of RE evacuation. A central grant covers 33% of the Rs. 719.76 crore project cost, reinforcing TN’s commitment to clean energy.

India Explores Overseas Trading of Carbon Credits Linked to Green Hydrogen Offtake

India contemplates permitting global trading of carbon credits (CC) connected to its GH2 projects, aiming to leverage surplus CC achieved ahead of its climate goals. Power and RE Minister R K Singh states the move could make Indian products more competitive, while discussions with countries like Japan on CC trade linked to GH2 are ongoing.

Uttar Pradesh Approves 40MW Solar Plant in Ayodhya for Clean Energy Surge

The UP Cabinet sanctions 165 acres of land near the Saryu river in Ayodhya for a 40MW photovoltaic station, a joint effort between the state and NTPC Renewable Energy Limited. With an infusion of Rs 160 crore, the plant's clean energy production will enhance the city's power grid, promoting sustainable growth.

Waaree Energies Secures Rs 1,000 Crore Equity Funding to Expand Solar Manufacturing

Solar panel manufacturer Waaree Energies has raised Rs 1,000 crore in a second equity funding round led by ValueQuest. The funding will support a 6 GW capacity expansion, including solar ingots, wafers, cells, and modules. Backward integration for 5.4 GW solar cell manufacturing is also planned, enhancing Waaree's position in the RE sector.

Juniper Green Energy Surpasses 1.2GW Renewable Capacity Milestone with Recent PPA Wins

Renewable energy producer Juniper Green Energy has achieved a milestone by exceeding 1.2GW of renewable energy capacity. The accomplishment is attributed to recent power purchase agreements and letter of awards for wind and solar projects, aligned with the company's commitment to India's sustainable and net-zero emissions goals.

Sunsure Energy Inks Green Power Pact with Kajaria Ceramics, Facilitating Significant Emission Reductions

Kajaria Ceramics, has entered an open access solar PPA with Sunsure Energy. The deal enables Kajaria to procure a substantial portion of its power from green sources, reducing emissions significantly at its Sikandrabad plant. Over 15.75 million units of green power will be supplied annually, offsetting around 12.6 million kg of CO2 yearly for 25 years.

Sterling and Wilson Renewable Energy Secures INR 826 Crore Orders for 1 GWp Solar Projects

Sterling and Wilson Renewable Energy (SWRE) has clinched orders valued at INR 826 crore in the first four months of FY 2023-24. The orders, approximately 1 GWp, encompass projects across Rajasthan, UP, and Gujarat, involving design, construction, and commissioning. The achievements highlight SWRE's contribution to India's clean energy transition and its ongoing partnerships.

Torrent Power Inks Deal for 132 MW Solar Supply to Desalination Plants

Torrent Power has signed a Power Transfer Agreement with Shapoorji Pallonji & Company for the supply of 132 MW solar power to desalination plants in Gujarat. The project, estimated at Rs 700 crore, bolsters Torrent Power's renewable capacity while contributing to its diversified power generation portfolio.

Malaysia Unveils Ambitious Roadmap to Achieve 70% Renewable Energy by 2050

Malaysia launches a National Energy Transition Roadmap, featuring 10 flagship projects. Initiatives include RE zones, biomass demand promotion, carbon-capturing technologies, and greener mobility solutions. The country aims to achieve 70% RE in its power mix by 2050, increase from the earlier 40% target by 2035. To bridge the gap, rooftop solar development for households and lifting of the renewable energy export ban are key strategies.

RES to Acquire Ingeteam's Renewable Service Division, Bolstering Global Renewable Energy Support Services

RES is set to acquire Ingeteam's Renewable Service division, solidifying its position as the world's largest RE support services provider. With ￡30 billion of assets under management, 35 GW of O&M services, and a presence in 23 countries, RES aims to accelerate the transition to renewables, offering expertise and digital solutions across various sectors and technologies.

Temasek Invests Rs 1,200 Crore in Mahindra's Electric Vehicle Unit, Valuation Surges to $9.8 Billion

Singapore's Temasek has partnered with M&M , committing Rs 1,200 crore to Mahindra Electric's EV unit, equating to a 1.49% to 2.97% stake. MEAL's valuation rises 15% to $9.8 billion. This strategic investment, aligned with Mahindra's EV ambitions, follows British International Investments' earlier commitment, cementing MEAL's status in the growing electric SUV market.

Indian Battery Company Plans $1 Billion Gigafactory in Karnataka

IBC unveils plans to establish a $1 billion battery gigafactory, focused on manufacturing its proprietary prismatic battery cells. The plant aims to commence production in 2025 achieving 10 GW of battery capacity by 2028. Prismatic cells are designed to simplify battery systems while boosting energy density, catering to EV and contributing to the energy transition.

JH EV Motors Introduces Alfa R 5 Electric Scooter with Remarkable 200 km Range on a Single Charge

JH EV Motors unveils the Alfa R 5 electric scooter, boasting an impressive 200 km range on a single charge, making it possible to travel from Pune to Mumbai for just Rs. 10. With a commitment to eco-friendly and affordable transportation, JH EV Motors aims to revolutionize the Indian electric vehicle market.

Kinetic Engineering Streamlines EV Operations Under Kinetic Watts & Volts for Integrated Solutions

Kinetic Engineering is consolidating its EV initiatives under Kinetic Watts & Volts, offering integrated solutions including motors, controllers, and batteries. With a focus on providing a seamless approach for EV manufacturers, the company aims to simplify the supply chain and enhance performance. The move aligns with the growing demand for EV components in India.

Tata Motors Collaborates with South Indian Bank for Exclusive EV Dealer Financing Program

Tata Motors has partnered with South Indian Bank to introduce a unique Electric Vehicle Dealer Financing Programme. The collaboration aims to provide comprehensive retail financing solutions to customers and authorized electric vehicle dealers, supporting the wider adoption of electric vehicles in India. This strategic initiative aligns with Tata's goal of driving EV adoption across the country.

India Considers Removing Mandatory Battery Safety Tests for EV Incentives

Indian government is contemplating eliminating mandatory battery safety tests required for incentives under PLI schemes. A committee led by ARAI submitted a re-examination report stating that industry compliance with the Ministry of Road Transport and Highways' battery safety norms negates the need for additional testing. This step aims to streamline regulations and remove overlaps.

EU Implements New Rules for Seamless Cross-Continental EV Travel

The European Union has introduced a rules package aimed at enabling stress-free electric vehicle (EV) travel across Europe. Charging stations will follow a "pay as you go" model, be co-located with traditional fuel stations, and provide rapid charging options for various vehicle types, contributing to a robust pan-European charging network by 2030.