Power Sector News Roundup for December 10, 2024

By

Global: CREC and Sungrow sign agreement for 1.5 GWh BESS supply AfDB appointed lead arranger for $340m Moyi Power metro-grids project in DRC India: India leads in clean-tech funding, surpassing China in Q3 2024 Tata Power to invest Rs 1.46 trillion to double capacity by 2030 Kerala announces electricity tariff hike of 16 paise per unit NTPC achieves fastest ever 300 BU generation milestone UPPCL resolves legal challenges to privatise two DISCOMs PFCCL incorporates SPV…

|

AfDB appointed lead arranger for Moyi Power metro-grids project in DRC

By

The African Development Bank (AfDB) has been named the mandated lead arranger for the Moyi Power metro-grids project, a $340 million private sector-led electrification initiative in the Democratic Republic of Congo (DRC). The project is now entering the financing stage. Spearheaded by the Moyi Power consortium, which includes Gridworks, Eranove, and AEE Power, the initiative aims to provide clean, reliable, and affordable electricity to one million people across three cities in the DRC—Bumba, Isiro, and…

|

CREC and Sungrow sign agreement for 1.5 GWh BESS supply

By

Citicore Renewable Energy Corporation (CREC) has signed a supply and services agreement with Sungrow for the development of Battery Energy Storage Systems (BESS) to support its solar power projects. Under the agreement, CREC will procure 1.5 GWh of BESS from Sungrow. Sungrow will also assist with the engineering and construction design of the BESS to optimize integration with CREC’s solar facilities. The Power Titan series from Sungrow will be utilized for this project, offering benefits…

|

Waaree Energies secures 1 GW solar PV module supply order

By

Waaree Energies Limited has secured a 1 GW solar photovoltaic (PV) modules supply order from an Indian renewable energy company.  The customer is engaged in owning, developing, and operating renewable power projects across India.  The supply of these modules is planned for delivery during the financial years 2024-25 and 2025-26.

|

Solar91 Cleantech secures BSE approval for Rs 1 billion SME IPO

By

Solar91 Cleantech has received approval from the Bombay Stock Exchange to proceed with its small medium enterprise (SME) initial public offering (IPO). The IPO will involve the issuance of up to 5.43 million equity shares, targeting a fundraising of Rs 1 billion.  The proceeds will be used to support Solar91 Cleantech’s transition into an independent power producer and to expand its turnkey engineering, procurement, and construction services for renewable energy projects across India.

|

Premier Energies to invest Rs 52.92 billion in Telangana solar manufacturing facilities

By

Premier Energies Limited plans to invest Rs 52.92 billion in manufacturing facilities for solar cells, modules, ingots, silicon wafers, and aluminium extrusions in Telangana. The initiative includes a 4 GW solar photovoltaic (PV) TOPCon cell and 4 GW PV TOPCon module manufacturing plant at Sitarampur, with an investment of Rs 33.42 billion.  Telangana State Industrial Infrastructure Corporation has allocated 75 acres for this project.  Additionally, Premier Energies will invest Rs 17 billion in an ingot…

|

PFCCL incorporates SPV for North-Eastern Region transmission project

By

PFC Consulting Limited (PFCCL), a wholly owned subsidiary of Power Finance Corporation Limited, has established a special purpose vehicle (SPV) named NER Expansion Transmission Limited.  The SPV is tasked with developing the “North-Eastern Region Expansion Scheme-XXV Part-A (NERES-XXV Part-A).” The Ministry of Power has appointed PFCCL as the bid process coordinator to select a transmission service provider through a tariff-based competitive bidding process. 

|

UPPCL resolves legal challenges to privatise two DISCOMs

By

The Uttar Pradesh Power Corporation Limited (UPPCL) has overcome legal hurdles in its bid to privatise Dakshinanchal and Purvanchal DISCOMs under the Public-Private Partnership (PPP) model.  The Board of Directors for both DISCOMs has authorised the formation of a new entity to facilitate the privatisation process. With this development, the process is now set for Cabinet approval of the privatisation draft or Request for Proposal (RFP). The tender process will begin once the proposal receives…

|

NTPC achieves fastest ever 300 BU generation milestone

By

NTPC Group reached a significant milestone by achieving 300 billion units (BU) of power generation on December 8, 2024, in FY 2024-25, marking the fastest-ever achievement in just 252 days.  This accomplishment is 10 days earlier compared to the previous financial year when the company crossed the 300 BU mark on December 18, 2023. The company currently has an installed capacity of 76.5 GW, with over 29.5 GW, including 9.6 GW of renewable energy, under…

|

Kerala announces electricity tariff hike of 16 paise per unit

By

The Kerala government has announced a 16 paise per unit increase in electricity tariffs for the 2024-25 financial year, effective from December 5, 2024.  An additional hike of 12 paise per unit will follow in the 2025-26 financial year. This marks the fifth tariff increase under the Pinarayi government’s tenure since 2016. Electricity Minister K Krishnankutty stated that the hike is minimal and will not impact household budgets.  The Kerala State Electricity Board (KSEB) had…