| Work Detail |
MNRE Launches PM Surya Ghar: Muft Bijli Yojana to Enlist 25,000 Vendors for Rooftop Solar Installations Across India The Ministry of New and Renewable Energy (MNRE) launched the PM Surya Ghar: Muft Bijli Yojana to install rooftop solar systems for one crore households by March 2027. The scheme seeks 25,000 vendors to support this ?1,45,000 crore initiative, with Central Financial Assistance (CFA) of up to ?78,000 per household. Vendors will manage system design, installation, and maintenance, contributing to India’s renewable energy goals. The Renewable Energy Corporation (REC) offers vendor support through training, registration, and operational assistance, promoting sustainability and accelerating the nation’s clean energy transition. The Maharashtra Electricity Regulatory Commission (MERC) approved Maharashtra State Electricity Distribution Co. Ltd.’s (MSEDCL) procurement of 1,468 MW of Firm and Dispatchable Renewable Energy (FDRE) from SJVN Limited. The ?4.45-4.46/kWh tariff includes wind, solar, and energy storage systems (ESS) to ensure reliable power during peak hours. This procurement supports MSEDCL’s Renewable Purchase Obligations (RPO) and enhances grid stability. The 25-year agreement marks progress toward increasing renewable energy integration and addressing Maharashtra’s energy needs with competitive, stable pricing. Tata Power Accelerates Solar Adoption in Tamil Nadu with Ghar Ghar Solar Initiative Tata Power Renewable Energy Limited (TPREL) has extended its successful ‘Ghar Ghar Solar, Tata Power ke Sang’ initiative to Tamil Nadu, following notable success in states such as Rajasthan, Uttar Pradesh, Kerala, and Chhattisgarh. The initiative aims to promote sustainable and affordable solar energy across Tamil Nadu, providing households with the opportunity to embrace clean energy solutions and reduce electricity costs. JSW Energy Secures 1,200 MW Solar-Wind Hybrid Projects with MSEDCL JSW Renew Energy Six Limited and JSW Renew Energy Thirty Limited, step-down subsidiaries of JSW Energy Limited, have signed Power Purchase Agreements (PPAs) with Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for a combined 1,200 MW Solar-Wind Hybrid capacity. These agreements cover two projects, each with a capacity of 600 MW, under a 25-year term at a tariff of ?3.60/kWh. The Letters of Award for these projects were received on August 29 and September 10, 2024, respectively. Azure Power Secures ?24 Billion Refinancing to Enhance Financial Stability in India’s Renewable Energy Sector Azure Power Global Limited, a prominent provider of sustainable energy solutions and renewable power producers in India, has announced the successful completion of a ?24 billion refinancing transaction. This deal, structured as an INR Term Loan, was underwritten solely by REC Limited. Following this refinancing, Azure Power has prepaid its Green Bonds, which were originally issued in 2019 for $350 million and backed by ten solar projects commissioned between 2016 and 2019, set to mature in December 2024. Sembcorp Green Infra Secures 150 MW Wind-Solar Hybrid Power Project from SECI Sembcorp Green Infra Private Limited has been selected for a significant renewable energy initiative, receiving a letter of award for a 150 (MW) wind-solar hybrid power project. This project, which connects to the Inter-State Transmission System, comes from the Solar Energy Corporation of India Ltd. (SECI) and marks a substantial addition to the company’s growing portfolio in India. ITC Ltd. Commissions Second Offsite Solar Plant in Karnataka, Reinforces Commitment to Renewable Energy ITC Ltd. continues to make significant strides in its renewable energy journey with the commissioning of its second offsite solar plant in Karnataka. Located in the Davangere district, this 9.45 MW facility represents a pivotal step in ITC’s broader strategy to transition towards sustainable energy under its ambitious Sustainability 2.0 Vision, which targets 100% of its electricity needs to be met through renewable sources by 2030. AMPIN Energy Secures Financial Closure for 200 MWp Solar-Wind Hybrid Project in Rajasthan AMPIN Energy Transition has announced the financial closure of its 200 MWp solar-wind hybrid project in Rajasthan. The green loan financing for the project has been secured from Standard Chartered Bank, marking a major milestone in AMPIN’s efforts to expand its renewable energy portfolio and contribute to India’s clean energy transition. SECI Secures Approval For 1,500 MW Solar Power Project Tariffs Of ?2.57-?2.58/kWh Following Competitive Bidding Process The Solar Energy Corporation of India (SECI) sought approval for tariffs for a 1,500 MW solar project through competitive bidding, receiving bids totaling 2,950 MW. After a transparent e-reverse auction, SECI awarded the project to five companies: Avaada Energy, ReNew Solar, Engie Energy, SAEL Industries, and NTPC Renewable Energy, with tariffs between ?2.57 and ?2.58 per unit. SECI also requested approval for a ?0.07/kWh trading margin. The Commission confirmed the bidding process met the guidelines and approved the tariffs and trading margin as per regulations. The petition was approved. JSW Renew Energy Signs 25-Year PPA with GUVNL for 192 MW Wind-Solar Hybrid Project JSW Renew Energy Seventeen Limited, a step-down subsidiary of JSW Energy Limited, has signed its first Power Purchase Agreement (PPA) for a wind-solar hybrid project. The agreement, finalized with Gujarat Urja Vikas Nigam Limited (GUVNL), secures the supply of 192 MW of hybrid wind-solar power for 25 years at a tariff of ?3.27 per kWh. GUVNL Secures 1,000 MW Solar Power With Tariffs As Low As ?2.65/kWh The Gujarat Urja Vikas Nigam Limited (GUVNL) initiated a process for procuring power from 500 MW of grid-connected solar projects through a competitive bidding mechanism. The invitation for bids was released on March 15, 2024, with the option for bidders to provide additional capacity through a Greenshoe option, allowing up to 500 MW more without energy storage. |
