Power Sector News Roundup for December 13, 2024

By

Global: Cathay Life acquires 50% stake in Ørsted’s Greater Changhua 4 wind farm Solar N Plus secures 500MW solar supply order for overseas market ADB approves $200m loan for Pakistan’s power distribution Ofgem proposes energy debt reforms amid £4bn crisis Hygreen Energy supplies 25 MW electrolyser for hydrogen project in China TotalEnergies and OQAE to develop 300 MW RE projects in Oman Ofgem approves funding for transmission projects in Scotland Iberdrola explores sale of UK…

|

Rays Green Energy to build solar module and cell plant in Madhya Pradesh

By

Rays Green Energy Manufacturing, a subsidiary of Rays Power Infra, will establish a solar module and cell facility in Madhya Pradesh with a total investment of Rs 14 billion.  The plant will include a 1.5 GW solar cell unit and a 3 GW solar module assembly line, utilizing advanced TOPCon technology to boost domestic renewable energy manufacturing. The Madhya Pradesh government has allocated 38 acres in the Mohasa Babai Industrial Area, Narmadapuram district, designated as…

|

Mizoram launches rooftop solar initiative under PM-SGMBY

By

Mizoram’s power and electricity minister has introduced a new initiative under the PM-Surya Ghar Muft Bijli Yojana (PM-SGMBY), enabling households to install rooftop solar systems with substantial government subsidies.  The scheme is available exclusively to Indian citizens who are current electricity consumers with good payment records and is limited to private residential properties. In partnership with 12 authorised vendors, the state government facilitates installations, with financial support available through national banks such as State Bank…

|

SolarSquare secures $40 million to expand rooftop solar operations

By

Mumbai-based rooftop solar company SolarSquare has raised $40 million in a Series B funding round led by Lightspeed, with Lightrock also participating.  Existing investors, including Elevation Capital, Lowercarbon, Rainmatter, and Gruhas Proptech, contributed as well. The funds will support SolarSquare’s expansion to over 50 cities from its current presence in 20.  Additional investments will focus on technology, talent acquisition, brand building, and developing an asset management technology stack for remote monitoring of residential solar systems….

|

Tivolt and Tata Power to develop EV charging infrastructure

By

Tivolt Electric Vehicles Private Limited, a subsidiary of TI Clean Mobility, has partnered with Tata Power Renewable Energy Limited (TPREL) to build an electric vehicle charging ecosystem.  Under the agreement, TPREL will use its expertise to establish charging stations at Tivolt dealerships, customer locations, and high-traffic public spaces across the country.

|

Bajel Projects wins contract for Solapur substation EPC work

By

Bajel Projects (BPL) has been awarded a contract by Solapur Transmission for the supply of goods and services related to a new substation in Solapur, Maharashtra.  The contract includes EPC work covering design, engineering, manufacturing, supply, erection, civil work, testing, and commissioning for the 400/220 KV Solapur pooling station and the establishment of two 400 KV Line Bays under Power Grid Solapur. The project is scheduled for completion within 15 months from the issuance of…

|

Kansai acquires stake in Windanker offshore wind farm in Germany

By

Japanese utility Kansai Electric Power has entered into a share purchase agreement with Iberdrola to acquire a 49% stake in the Windanker offshore wind farm project in Germany.  Kansai’s subsidiary, Windanker Investco, will hold the stake, subject to approval from German authorities, while Iberdrola will retain the remaining 51%. This marks the beginning of Kansai’s collaboration with Iberdrola on international renewable energy projects. The Windanker project will be Kansai’s fifth offshore wind farm overseas, increasing…

|

Iberdrola explores sale of UK smart metering business to raise £1bn

By

Spanish utility Iberdrola is considering the sale of its UK smart metering business, aiming to raise £1 billion ($1.27 billion), according to Reuters. The company is working with the Royal Bank of Canada as an adviser on the deal, though the sale process is in its early stages and no deal is guaranteed. The potential sale is part of Iberdrola’s larger £24 billion investment plan for its UK arm, ScottishPower, which includes a focus on…

|

Ofgem approves funding for transmission projects in Scotland

By

The British Office of Gas and Electricity Markets (Ofgem) has approved funding for several transmission infrastructure projects in Scotland, enabling SSEN Transmission to begin pre-construction activities such as community consultations and supply chain engagement. These projects align with the Centralised Strategic Networks Plan, Beyond 2030, published in March 2024, which calls for £58 billion in investment to enhance both offshore and onshore networks.  The upgrades aim to integrate an additional 21 GW of offshore wind…

|

TotalEnergies and OQAE to develop 300 MW RE projects in Oman

By

TotalEnergies has partnered with OQ Alternative Energy (OQAE) to develop 300 MW of renewable energy projects in Oman.  The electricity generated will be supplied to Petroleum Development Oman (PDO) through long-term power purchase agreements, with OQAE holding a 51 per cent share and TotalEnergies 49 per cent. The collaboration includes three projects: North Solar, a 100 MW solar facility in Saih Nihaydah, and Riyah-1 and Riyah-2, two 100 MW wind farms in Amin and West…