Power Sector News Roundup for February 5, 2025

By

Global: Desert Quartzite solar+storage project achieves operational status Amazon and Iberdrola expand renewable energy partnership Stavian Group to invest USD 22 million in battery storage project in Vietnam India: PGCIL approves investment for Gujarat offshore transmission system projects PGCIL reports Q3 FY25 net profit of Rs 38.61 billion, a 4.15% decline Lords Mark wins 300 MW rooftop solar project contract from UPNEDA Indus Towers invests in 50 MW captive solar project Sharika Enterprises secures multiple…

|

Stavian Group to invest USD 22 million in battery storage project in Vietnam

By

Stavian Group is investing USD 22 million in a Battery Energy Storage System (BESS) project at the Stavian Complex in Hung Yen province, Vietnam. Developed through a joint venture with Juhang Energy Technology (Singapore), the project will cover over 5 hectares and focus on manufacturing energy storage systems, EV charging equipment, and electric cables. The BESS will support grid regulation for renewable projects and industrial microgrids, helping businesses cut energy costs by optimising power usage….

|

Amazon and Iberdrola expand renewable energy partnership

By

  Amazon and Iberdrola have added 476 MW to their global renewable energy partnership, expanding into five countries. The new agreements include Amazon’s first PPA in Portugal for 219 MW from the Tâmega Wind Complex, the largest wind farm in Portugal, and additional PPAs in Spain for 257 MW from solar and wind projects. These projects will generate 1,093 GWh of carbon-free electricity annually, enough to power 300,000 homes. Amazon’s total contracted renewable energy from…

|

Desert Quartzite solar+storage project achieves operational status

By

EDF Renewables North America (EDFR) and Power Sustainable Energy Infrastructure (PSEI) have announced the operational status of their Desert Quartzite solar+storage project in Riverside County, California.  The project has a solar capacity of 375 MWdc/300 MWac and an energy storage capacity of 150 MWac/4 hours, delivering power to the Clean Power Alliance under a 20-year power purchase agreement. Located on Federal lands managed by the Bureau of Land Management, Desert Quartzite is designed to store…

|

NTPC signs PPA with Indian Army for solar-hydrogen microgrid in Ladakh

By

NTPC Limited has signed a Power Purchase Agreement (PPA) with the Indian Army for the sale of 200 kW round-the-clock renewable energy from a solar-hydrogen-based microgrid in Chushul, Ladakh.  The 25-year agreement aims to enhance energy security in remote defence installations and reduce reliance on fuel transportation in challenging terrains. The solar-hydrogen microgrid will replace existing diesel gensets, cutting carbon emissions by 1,500 tonnes annually.  This initiative supports the decarbonisation and modernisation of defence infrastructure…

|

Welspun New Energy to invest Rs 135 billion in Odisha’s energy projects

By

Welspun New Energy has signed a Memorandum of Understanding (MoU) with the Government of Odisha to invest Rs 135 billion in the state’s renewable energy sector. The investment includes plans for a 1,200 MW pumped hydro project and a 1,000 MW floating solar power project. These initiatives aim to boost Odisha’s energy storage capacity and support the integration of renewable energy into the grid, aligning with the state’s ‘Viksit Odisha 2036’ vision to become a…

|

Budget 2024-25 allocates funds for key power projects

By

The Budget 2024-25 has allocated funds for various power projects, including thermal, transmission, and hydro. Rs 2.51 billion is set for the Power Sector Reform Program (Subprogram 1). The Kudankulam Nuclear Power Plant has received Rs 10.19 billion and Rs 8.77 billion for Units 3 and 4, and Rs 19.69 billion and Rs 26.28 billion for Units 5 and 6. Distribution and transmission projects include Rs 3.25 billion for Meghalaya, Tripura, and Assam, Rs 7.39…

|

Art-PV secures MNRE grant for tandem solar cell manufacturing plant

By

Art-PV, incubated at IIT Bombay, has received a USD 10 million grant from the Ministry of New and Renewable Energy (MNRE) to establish a manufacturing plant for high-efficiency tandem solar cells. The company’s innovative tandem cell achieves 29.8 per cent sunlight-to-electricity conversion, surpassing the 23 per cent efficiency of conventional solar cells. This technology combines silicon with cadmium telluride (CdTe) and a perovskite-structured material to absorb a broader light spectrum, enhancing efficiency. Art-PV addresses the…

|

CESC Group completes acquisition of power distribution in Chandigarh

By

Eminent Electricity Distribution Limited (EEDL), a wholly-owned subsidiary of CESC Limited, has signed a share purchase agreement (SPA) with Chandigarh Power Distribution Limited (CPDL) to acquire 100 per cent equity in a distribution company.  As a result, Chandigarh Power Distribution Ltd (CPDL) becomes a step-down subsidiary of CESC Ltd. The deal is valued at Rs 8.71 billion in cash. The acquisition was completed for approximately Rs 8.71 billion. Effective February 1, 2025, all electricity-related functions,…

|

Indus Towers invests in 50 MW captive solar project

By

Indus Towers Limited (ITL) has signed an agreement with Amplus Energy Solutions Private Limited to set up a 50 MW captive solar photovoltaic (PV) power project in India.  As part of the agreement, ITL will invest Rs 270 million to acquire a 26 per cent equity stake in Amplus Tungabhadra Private Limited, the special purpose vehicle (SPV) for the project. The project is expected to be completed by February 2026. In another development, Sharika Enterprises…