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Punjab to have 66 solar power plants by 2025

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The government of Punjab has launched a new initiative under the Clean and Green Renewable Energy project to boost Punjab’s green energy production.  A total of 66 solar projects will be implemented across the state by December 2025, generating 264 MW of renewable energy.  The Punjab government has signed a 25-year agreement with VP Solar Generation Company, the winning bidder, to oversee the installation of solar plants. Each of the 66 solar projects will generate…

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India to launch Critical Mineral Mission in 2025

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India is set to launch its Critical Mineral Mission in 2025, an initiative to secure essential minerals for the country’s green energy transition and electric vehicle (EV) sector growth.  This mission will bring together multiple ministries, industries, research institutions, and global think tanks to ensure a sustainable supply of critical minerals like lithium and cobalt. The demand for these minerals is expected to surge, particularly for EVs, renewable energy technologies, and semiconductors. India’s strategy includes…

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IREDA sanctions Rs 30 billion for Odisha’s green energy projects

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Shri Pradip Kumar Das, Chairman and Managing Director (CMD) of Indian Renewable Energy Development Agency Limited (IREDA), delivered a keynote address at the Odisha Solar Investor Conclave hosted by GRIDCO in Bhubaneswar.  The CMD confirmed that IREDA has sanctioned over Rs 30 billion for renewable energy projects in Odisha, covering sectors such as solar, hydro, ethanol, and renewable energy manufacturing.  Odisha aims to achieve 10 GW of renewable energy capacity by 2030, and IREDA’s support…

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Refex Industries launches renewable energy subsidiary

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Refex Industries Limited has established a wholly owned subsidiary, Venwind Refex Power Limited, with a subscribed capital of Rs 10 million comprising 100,000 fully paid equity shares at a face value of Rs 10 each. The subsidiary will focus on trading, manufacturing, production, assembly, distribution, and marketing of sustainable energy assets and their components.  It will also offer consulting, engineering, procurement, and construction (EPC) services, along with managing and operating power plants based on renewable…

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PGCIL and Adani Energy qualify for Khavda transmission project

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Power Grid Corporation of India Limited (PGCIL) and Adani Energy Solutions Ltd have emerged as qualified bidders for the Augmentation of transformation capacity at KPS1 (GIS) and KPS2 (GIS) (Phase-V Part B1 and Part B2 scheme). REC Power Development and Consultancy Limited (REC PDCL) is the bid process coordinator (BPC) for selecting a transmission service provider (TSP) through a tariff-based competitive bidding (TBCB) process.  The project’s special purpose vehicle (SPV) is Khavda V-B1B2 Power Transmission…

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BERC proposes draft regulations for green energy open access

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The Bihar Electricity Regulatory Commission (BERC) has released a consultative paper on the draft BERC (Terms and Conditions for Green Energy Open Access) Regulations, 2024. The draft policy enables voluntary procurement of green energy in increments of 25 per cent, up to 100 per cent.  Tariffs will include pooled renewable energy costs, cross-subsidy surcharges capped at 20 per cent of the average cost of supply, and service charges for distribution licensees.  Consumers must maintain consistent…

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CERC amends deviation settlement regulations for solar projects

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The Central Electricity Regulatory Commission (CERC) has issued the CERC (Deviation Settlement Mechanism and Related Matters) (First Amendment) Regulations, 2024.  The amendment addresses implementation challenges and refines operational procedures for solar projects. Under the updated guidelines, solar projects must conduct trial runs with a minimum capacity of 50 megawatts (MW). Projects exceeding 50 MW can complete trial runs in up to four instalments. For projects with a capacity of 250 MW or more, trial runs…

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SustVest raises $1.7 million to expand solar projects

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SustVest has secured $1.7 million in equity and debt during its Pre-Series A funding round. The round was led by Inflection Point Ventures and Antler, with participation from WEH Ventures, Venture Catalysts, Soonicorn Ventures, FAAD Network, and others. The funds will be used to acquire solar projects, scale marketing for its regulated platform, improve operations, and manage legal expenses. SustVest, a regulated platform for sustainable investments, offers fixed-income investment opportunities in renewable energy and provides…

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NTPC to set up green hydrogen mobility project in Bhubaneswar

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NTPC Limited has signed a tripartite memorandum of understanding (MoU) with the Grid Corporation of Odisha (GRIDCO) and Capital Region Urban Transport (CRUT) to promote green hydrogen mobility in Bhubaneswar.  Under the agreement, NTPC will establish a green hydrogen fuelling station and deploy hydrogen-powered buses for short- and long-distance routes, replacing fossil fuel-powered buses to support decarbonisation and energy security.  The Ministry of New and Renewable Energy (MNRE) has partially funded the project. Separately, the…

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ReNew sells 300 MW solar asset to Anzen for $176 million

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ReNew Energy Global has entered into an agreement to sell its entire stake in ReNew Sun Waves Pvt Ltd (RSWPL) to Anzen India Energy Yield Plus Trust for $176 million. RSWPL operates a 300 MW solar asset in Jaisalmer, Rajasthan. The deal will close after fulfilling contractual obligations, conditions precedent, and lender approvals. The enterprise value may adjust based on net current assets and other provisions in the agreement.  ReNew also expects an earn-out of…