Power Sector News Roundup for October 4, 2024

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Global Development: TotalEnergies kick-starts its largest US utility-scale solar farms with batteries. GE Vernova to supply 38 turbines for Boulder Creek Wind Farm in Queensland. RES sells 436.5 MW Tarong West Wind Farm to Stanwell in Australia. Texas approves Permian Basin Reliability Plan to meet rising electricity demand. China has invested over $100 billion overseas in cleantech since 2023. Axess Technologies secures cable installation contract for Denmark’s Thor offshore project. Powin secures $200 million credit…

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Nepal, India, and Bangladesh sign deal for 40 MW electricity trade

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Nepal, India, and Bangladesh have signed a landmark trilateral agreement to trade 40 MW of electricity, marking the first time Nepal will sell power to a third country. The deal, signed in Kathmandu, allows Nepal to export electricity to Bangladesh via India, as Nepal and Bangladesh are not geographically connected. Under the agreement, Bangladesh will import 40 MW of electricity from Nepal during the five months from mid-June to mid-November each year, with a total…

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CSEP study warns green tariffs could strain India’s power distribution companies

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A report by the Centre for Social and Economic Progress (CSEP) highlights potential financial challenges for India’s power discoms from the Ministry of Power’s plan to introduce green tariffs. The green tariffs aim to encourage renewable energy adoption, but CSEP warns that this shift could financially hurt discoms, especially if high-paying commercial and industrial consumers opt for cheaper green energy alternatives. According to the study, green tariffs could lead to a 15% financial loss of…

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Cabinet approves India’s entry into elite global energy efficiency hub

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The Union Cabinet has approved India’s participation in the International Energy Efficiency Hub, a global platform aimed at promoting energy efficiency through collaboration.   The Energy Efficiency Hub, established in 2020 as a successor to the International Partnership for Energy Efficiency Cooperation (IPEEC), brings together governments, international organizations, and private sector entities to share expertise and best practices. Sixteen countries, including the US, UK, China, and Germany, have already joined the Hub. India’s Bureau of Energy…

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Goldi Solar to reach 14-GW solar module mfg capacity by FY26

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Indian solar manufacturer Goldi Solar has announced plans to significantly expand its production capacity over the next few years. The company aims to increase its solar module capacity from 3GW to 14GW by mid-FY2026 and build a new 4GW solar cell plant by FY2027. The new solar module plant will be located in Gujarat, where Goldi Solar already operates two assembly plants in Pipodara and Navsari with a combined 3GW capacity. This expansion is part…

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Matrix Gas & Renewables aims to raise up to $143 million in IPO

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Matrix Gas & Renewables, a subsidiary of Gensol Group, is preparing to raise Rs 10-12 billion ($119-$143 million) through an initial public offering (IPO) next year, according to CEO Chirag Kotecha. The funds will support the company’s ambitious plans to develop 1,000 MW of green hydrogen projects over the next three years. With India’s equity market seeing a surge in IPOs, Matrix Gas aims to capitalize on favourable market conditions. The company plans to allocate…

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Adani Group eyes $900 million power line project in Tanzania

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The Tanzanian government is negotiating with the Adani Group for a $900 million public-private partnership to build high-voltage power lines. This project follows the group’s earlier success in securing a 30-year concession to operate the main container terminal at the port of Dar es Salaam. The investment is part of Tanzania’s broader push for infrastructural development and foreign investments. In parallel, Tanzania is also in discussions with UK firm Gridworks Development Partners for a $300…

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Prashant Kumar Singh appointed as new Secretary of MNRE

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Prashant Kumar Singh has been appointed as the new Secretary of the Ministry of New and Renewable Energy (MNRE), replacing IAS Bhupinder Singh Bhalla, who recently retired.  Singh, an IAS Officer of the 1993 Manipur cadre, had been serving as Officer on Special Duty (OSD) in the MNRE for the past six weeks. Before this, he was the Chief Executive Officer (CEO) of the Government e-Marketplace (GeM) under the Ministry of Commerce and Industry.

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Envision Energy to bring advanced 5MW onshore wind platform to India by 2026

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Envision Energy India Pvt Ltd plans to introduce its newly launched EN 182/5MW onshore wind platform to India by the first quarter of 2026. This follows the company’s previous success with the EN 131/2.5MW and EN 156/3.3MW turbines, which have been deployed across six Indian states since 2017. Announced at Wind Energy Hamburg 2024, the EN 182/5MW platform is set to increase annual energy output (AEP) by over 40% compared to the EN 156/3.3MW turbine….

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Honeywell introduces AI-enabled solutions to optimize plant operations

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Honeywell has launched a new suite of artificial intelligence (AI)-enabled solutions aimed at improving efficiency, decision-making, and workforce productivity across plant operations. These solutions, powered by Honeywell Forge and decades of industry expertise, provide an end-to-end AI experience for field workers, control room operators, and executives. In response to challenges such as a shortage of skilled talent and the need for enhanced operational efficiency, Honeywell’s AI solutions, including the Experion Operations Assistant, offer step-by-step guidance…