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Monarch Private and Invenergy secure $170 million tax equity for samson solar II

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Monarch Private Capital and Invenergy have secured nearly $170 million in tax equity financing for the 200 MW Samson Solar Energy Center II in Lamar County, Texas. Developed by Invenergy, the project will contribute over $27 million in taxes and funding to local schools and the county throughout its lifespan. The solar facility is expected to begin operations later in 2024 and is part of Invenergy’s larger 1,310 MW Samson Solar Energy Center, the largest…

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Hygenco and REC sign $280 million MoU for green ammonia project in Odisha

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Hygenco Green Energies and REC Limited have signed a Memorandum of Understanding (MoU) at the 4th Global Renewable Energy Investors Meet in Gandhinagar, Gujarat, to finance Hygenco’s green ammonia project in Gopalpur, Odisha. Under the agreement, REC will invest $280 million in the project. Hygenco plans to expand its investments in India, with $2.5 billion earmarked for green hydrogen and green ammonia projects in the coming years. In recent developments, Hygenco has signed MoUs with…

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UPNEDA issues tender for 320 MW solar power projects in Jalaun

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The Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has floated a tender for the development of 320 MW grid-connected ground-mounted solar power projects across eight locations in Jalaun, Uttar Pradesh. Bids must be submitted by October 4, 2024, and the winning developer will receive a 30-year land lease of 1,292.46 acres from UPNEDA. The project is estimated to cost Rs 19.39 million and will be developed on a build-own-operate basis. The tender requires…

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India’s first CO2-to-Methanol pilot plant launched in Pune

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India’s first CO2-to-Methanol pilot plant has been unveiled at Thermax Limited’s premises in Pune, Maharashtra. This 1.4 tonnes-per-day capacity plant is a Public-Private Partnership (PPP) between IIT Delhi and Thermax Limited, with a project cost of Rs 310 million. It is supported by the Department of Science and Technology (DST), Ministry of Science and Technology. The plant aims to advance indigenous carbon capture and utilisation (CCU) technologies by developing new catalysts and processes to convert…

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Regreen-Excel files for IPO, plans to raise Rs 3.5 billion

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Regreen-Excel EPC India Limited has filed preliminary papers with SEBI to raise funds through an initial public offering (IPO). The company plans to issue fresh equity shares worth Rs 3.5 billion, alongside an offer-for-sale of 11.4 million shares by the promoters. The capital raised will be used to repay debt, secure bank guarantees, and for general corporate purposes. Regreen-Excel, an ethanol plant manufacturer, has completed 113 projects in the last two months since its inception…

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SECI issues tender for 1 GW ISTS-connected solar projects under Tranche XVIII

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The Solar Energy Corporation of India (SECI) has issued a tender inviting bids to develop 1 GW of inter-state transmission system (ISTS)-connected solar power projects for Tranche XVIII. The deadline for bid submission is October 4, 2024. Bidders are required to submit an earnest money deposit of Rs 942,000 per MW, along with a document fee of Rs 50,000 and a non-refundable bid processing fee of Rs 20,000. Selected winners must provide a performance bank…

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KSEB signs agreement with SECI to purchase 500 MW solar power

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Kerala State Electricity Board Limited (KSEB) has signed an agreement with the Solar Energy Corporation of India Limited (SECI) to boost solar energy in Kerala.  The deal aims to reduce power purchase costs by at least 10%, with KSEB set to buy 500 MW of solar power from SECI at Rs 3.49 per unit. The 25-year power supply agreement will begin by September 2026, with provisions for supplying power during peak-demand hours after 6 pm.

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Government issues guidelines for the implementation of VGF for offshore wind projects

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The central government has unveiled guidelines for the viability gap funding (VGF) scheme, allocating Rs 74.53 billion to support offshore wind energy projects along the Gujarat and Tamil Nadu coasts. The scheme designates Rs 68.53 billion for 1,000 MW of offshore wind capacity and Rs 6 billion for port infrastructure. The Ministry of New and Renewable Energy will oversee the scheme, with Solar Energy Corporation of India Limited (SECI) managing applications, awards, and progress. The…

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Torrent Power signs MoU with Gujarat government for 5 GW renewable energy project in Dwarka

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Torrent Power Limited has signed a memorandum of understanding (MoU) with the Government of Gujarat to develop a 5 GW solar, wind, or solar-wind hybrid project in Dwarka, Gujarat. This agreement marks a significant step in advancing renewable energy initiatives in the region.