Smart Energy T20-50 Updates, July 24 Newsletter

PFC signs MoU valued at ?2.37 lakh crore with 20 companies.

Power Finance Corporation (PFC) has signed MoUs worth over ?2.37 lakh crore with 20 companies in public and private sectors to be a key funding agency for energy transition. The Maharatna company partnered with solar, wind, green hydrogen, and electric companies to support India's clean energy goals. PFC aims to fund projects like offshore wind and solar modules, reflecting its commitment to India's energy transition objectives.

SAEL, ReNew, Eden, Jakson among top winners in SECI's 2 GW solar auction

SAEL, ReNew Power, Eden Renewables, Jakson, Shiva Corporation, and Avaada Energy secured bids in SECI’s auction for 2 GW interstate transmission system-connected solar projects. Bidders quoted ?2.60/kWh, acquiring a total of 1.4 GW. Developers must commission the projects within 18 months from the effective PPA date. SECI plans to sell the power to various entities in India.

India's Ambitious Goal: 100 GW Solar Module Capacity by 2026

India aims to achieve 100 GW of annual solar module manufacturing capacity by 2026. The nation plans to establish a domestic solar manufacturing chain to support 290 GW of solar deployment by 2030. The PLI scheme is expected to add at least 48 GW of solar module manufacturing capacity. As of May 2023, India has achieved over 68 GW of solar installations.

Renew Energy Bags Rs 64,000 Crore in Loans from PFC and REC for Green Energy Ventures

Renew Energy Global secured loan agreements worth Rs 64,000 crore with PFC and REC, each providing Rs 32,000 crore. The agreements were signed during the clean energy ministerial meet in Goa. Renew plans to utilize the funds for various green energy projects, including solar, wind, energy storage, and green hydrogen. The company's portfolio currently stands at 13.4 GW.

Tata Group to Establish 40 GW Battery Cell Gigafactory in UK for Electric Vehicles and Energy Storage

Tata Sons plans ￡4 billion battery gigafactory in the UK to produce 40 GW of cells annually. Jaguar Land Rover and Tata Motors will be anchor customers, and production is set to start in 2026. The gigafactory aims to promote electric mobility and renewable energy storage with a focus on sustainable practices and a circular economy.

Avaada Group Unveils MoU with REC to Fund Energy Transition Projects

Avaada Group partners with REC with an MoU signed during the G20 ETWG meeting in Goa. The collaboration brings a significant investment of Rs 20,000 crores for Avaada's diverse renewable energy projects in India, including green hydrogen, solar PV manufacturing, and solar, wind, and hybrid projects. This aligns with India's energy transition goals, promoting self-sufficiency and sustainability.

First Solar, a US-based company, plans to manufacture solar panels in India

First Solar to Invest in Solar Panel Production in India without sourcing any material from China. This announcement was made during Mr Granholm’s New Delhi visit for the India-US Strategic Clean Energy Partnership. He further highlighted India's role in energy transition. India and the US underscore the importance of clean energy cooperation during the SCEP ministerial meeting.

Gautam Adani plans to build 20-GW renewables park in Khavda, Gujarat

Adani Group announces plans for the world's largest hybrid renewables park in Gujarat's Khavda, generating 20 GW of green energy across 72,000 acres. Gautam Adan plans to build it faster than any project in the company’s execution history. With over 8GW, Adani Green has the largest operational renewable energy portfolio.

Researchers at IIT Bhilai Develop Self-Healing Coating for Solar Cells

Researchers at the Indian Institute of Technology (IIT), Bhilai,have developed a cost-effective and industry-friendly formulation for a “self-healing coating” for solar cells. This formulation, created through a simple process, allows for the spontaneous healing of cracks within a remarkably short time frame of just 5 minutes. The project is being supported by IIT Bhilai, DSIR, and SERB.

Trina Solar takes lead in standardization initiative to unify module dimensions

Nine module manufacturers including Trina Solar have reached a consensus on standardizing the dimensions of rectangular silicon wafer modules to 2382*1134mm, based on Trina Solar's 210R modules with dimensions of 2384*1134mm launched in April 2022. Trina Solar has been at the forefront of the industry, leading standardization with its Golden Size design concept and products.

Inox Wind's 3 MW Turbine receives Type Certification from TUV SUD

Inox Wind receives TUV SUD Type Certificate for their state-of-the-art 3 MW wind turbine with a booster capacity of up to 3.3 MW. The certification validates the prototype's compliance with international standards and signifies its readiness for serial production and commissioning. The turbine's advanced design promises improved efficiency, offering a sustainable advantage in India's WTG market.

Fourth Partner Energy Successfully Commissions its ?First Wind-Solar Hybrid Project

Fourth Partner Energy commissions a 70 MW wind-solar hybrid project in Gujarat's Gondal city, providing clean energy at 25-35% cheaper rates than grid tariffs to corporate clients in Delhi and Hyderabad. The project, executed within 10 months, includes 14 wind turbines from GE and is expected to generate 163 million units of clean energy annually.

Summit Business Park in Mumbai Unveils Solar Power Plant

The Summit Business Park Premises Co-op Society Ltd. has announced the successful installation of their highly anticipated solar panel system. The solar panel system boasts an impressive capacity of approximately 415 KW, consisting of 633 solar PV panels. Over the course of a year, it is expected to generate a remarkable 4.6 lakh kWh of electricity.

GoodWe Launches AI-Empowered Next-Gen AFCI Technology

GoodWe introduces new-generation Arc Fault Circuit Interrupter (AFCI) with advanced AI to detect DC arcing faults in solar PV systems. Validated by TüV Rheinland, it achieves rapid shutdown within 500ms, complying with market standards. GoodWe's AFCI incorporates deep learning for precise detection accuracy and supports a maximum detection cable length of 200m, making it suitable for larger PV installations.

Suzlon secures an order of 100.8 MW from Everrenew Energy Private Limited

Suzlon wins order for a 100.8 MW wind power project for Everrenew Energy in Tamil Nadu. The project will use Suzlon's S120 - 2.1 MW wind turbine generators and is set to be commissioned in March 2024. Suzlon aims to drive renewable energy adoption and support India's net-zero targets with its domestic content and 'Made-in-India' products.

MAHAPREIT to install 1,000 MW decentralised solar units for farmers, industries

MAHAPREIT plans to install 500 MW of decentralized solar projects for agricultural irrigation and 500 MW of rooftop solar units for SMEs in Maharashtra. The initiative aims to contribute to the government's 22 GW renewable energy goal. The first phase will focus on Sangli, Nashik, and Kolhapur districts. The project is supported by the GEAPP.

Aron Govil to enter Lithium-ion Battery Business in India

Aron Govil announced that he is planning to enter the Lithium-Ion Battery manufacturing and supply business for the Indian market through his Ducon Group company. The company aims to invest in research and development and collaborate with technology firms to seize emerging market opportunities in India. With India's ambitious renewable energy targets, Li-Ion batteries are vital for grid stabilization and storing excess renewable energy.

UP govt lays down norms for e-vehicle subsidy

The Purchase Subsidy Promotion Scheme will be effective till October 13, 2023. The first two lakh electric 2W will be provided with a subsidy of Rs 5,000 per vehicle. Similarly, the first 25,000 electric 4W purchased will get a subsidy to the extent of Rs 1 lakh per vehicle. The initial 400 e-buses will get subsidy to the extent of Rs 20 lakh per vehicle.

Delta Electronics India Appoints Manjula Girish as EV Charging Head

Delta Electronics India Pvt Ltd announced the appointment of Manjula Girish business head for the EV Charging and Photovoltaic Inverter division. She brings a wealth of experience and expertise to this role, making her an invaluable asset to our team. She will report directly to Niranjan Nayak, the Managing Director of Delta Electronics India.

Chargeup launches India's first solar battery swap station in Jaipur

Chargeup has introduced India's inaugural solarized battery swapping station in Jaipur. Located at Beniwal Kanta, Chungi Circle, Jaipur, the station is owned and operated by Chargeup and has a capacity of 140 kWh, covering 20 per cent of its energy needs. Chargeup's future plans include expanding this initiative covering 80 % of Jaipur, and replicating the model in Tier-2 cities.