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Maharashtra and Telangana sign MoUs for 7,440 MW renewable energy projects

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Maharashtra and Telangana sign MoUs for 7,440 MW renewable energy projects The Government of Maharashtra (GoM) and the Government of Telangana (GoT) have signed Memorandums of Understanding (MoUs) with Essar Renewables Limited (ERL) and Sun Petrochemicals Private Limited, respectively, to develop 7,440 MW renewable energy (RE) projects in the states. ERL will invest Rs 80 billion to set up 2,000 MW round-the-clock (RTC) RE power projects in Maharashtra by FY 2027. The energy will support…

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Centre approves Rs 4.88 billion for power grid upgrades in Telangana

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The central government has approved an investment of Rs 4.88 billion under the Power System Development Fund for nine new schemes to strengthen Telangana’s power grid and ensure reliable electricity supply. The investment will support the installation of smart meters in government offices under the Revamped Distribution Sector Scheme (RDSS).  Additionally, Telangana’s proposal under the planned distribution scheme will be given priority consideration.

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Contract and Deal Updates – January 28, 2025

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ACME Solar signs PPA with NHPC for 680 MW renewable energy  ACME Solar Holdings Private Limited has signed a 25-year power purchase agreement (PPA) with NHPC Limited to develop a 680 MW firm and dispatchable renewable energy (FDRE) power project. In February 2024, ACME Solar secured the 680 MW capacity by quoting a tariff of Rs 4.64 per kWh during NHPC’s FDRE auction. Earlier, in September 2023, NHPC invited Request for Selection (RfS) bids to…

Power Sector News Roundup for January 28, 2025

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Global: AI boom drives 58 GW rise in PJM grid demand by 2035 Morocco plans 990 MW gas-fired power plant with $420 million investment Meridiam partners with HAU and EBRD to develop renewable energy in Egypt India: Maharashtra and Telangana sign MoUs for 7,440 MW renewable energy projects ACME Solar signs PPA with NHPC for 680 MW renewable energy Sunsure Energy signs PPA with SECI for solar project in Rajasthan TP Solar wins Rs 4.55…

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IOC to acquire up to 6 GW of renewable energy projects

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Indian Oil Corporation (IOCL) plans to acquire five to six GW of solar and wind power projects to expand its renewable energy portfolio. The company targets 31 GW of renewable energy capacity by 2031 through organic growth, joint ventures, and mergers and acquisitions. IOCL currently has a renewable energy capacity of 246.94 MW and established Terra Clean, a wholly owned subsidiary, in 2024 to drive clean energy operations. Terra Clean aims to develop 1 GW…

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Global Contract and Deal Updates – January 28, 2025

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Meridiam partners with HAU and EBRD to develop renewable energy in Egypt Meridiam has entered into a long-term strategic partnership with Hassan Allam Utilities (HAU) and the European Bank for Reconstruction and Development (EBRD) to develop and invest in greenfield renewable energy projects in Egypt, focusing on wind and solar power. The first project under this agreement is a 1.1 GW wind power plant, with ACWA Power also as a partner. The plant will be…

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AI boom drives 58 GW rise in PJM grid demand by 2035

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The US’s largest electricity grid, managed by PJM Interconnection, anticipates a 58 GW surge in peak summer demand by 2035, reaching 210 GW due to the AI boom, according to Bloomberg. Data centres critical for AI operations drive rapid power consumption, potentially straining the current grid infrastructure. At the World Economic Forum in Davos in January 2025, US President Donald Trump stressed the need for power plants to accompany data centres to reduce grid stress….

Power Sector News Roundup for January 27, 2025

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Global: NextEra partners with GE Vernova for natural gas-fired project EIA forecasts solar power growth will drive US power generation up to 2027 Italy to finalise strategy for nuclear power reintroduction by 2027 Taean Wind secures fixed-price contract for offshore wind in Korea JA Solar completes 1 GW delivery for Ulan Buh Desert energy base project Sol Systems achieves financial close on $345 million Tilden solar project L&T selected as preferred EPC contractor for Masdar’s…

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Italy to finalise strategy for nuclear power reintroduction by 2027

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Italy plans to finalise a strategy for the reintroduction of nuclear power by the end of 2027, as reported by Reuters. Energy Minister Gilberto Pichetto Fratin revealed the plan in an interview with Il Sole 24 Ore.  The current government, under Prime Minister Giorgia Meloni, is considering small modular reactors (SMRs) and advanced modular reactors to decarbonise carbon-intensive industries like steel, glass, and tile production. Despite the 1987 and 2011 referendums banning nuclear power plants,…

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EIA forecasts solar power growth will drive US power generation up to 2027

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The US Energy Information Administration (EIA) projects that solar power will lead the growth in US power generation through 2027.  In its latest short-term energy outlook, the EIA estimates utilities and independent power producers will add 26GW of solar capacity in 2025 and 22GW in 2026, following a record 37GW added in 2024. Wind power is also expected to grow, with 8GW forecasted in 2025 and 9GW in 2026. Renewable generation will rise by 12%…