NTPC Green Energy (NGEL), a subsidiary of NTPC Ltd, has signed a memorandum of understanding (MoU) with the Rajasthan government for a 25 GW renewable energy project.
The MoU was signed on 30 September 2024 during the Rising Rajasthan Investor Meet in Delhi, in the presence of Rajasthan Chief Minister Bhajanlal Sharma. Senior officials from both the Government of Rajasthan and NGEL also attended the event.
Avaana Capital, India’s climate-focused venture capital firm, has infused its Avaana Climate and Sustainability Fund with USD 135 million, supported by prominent institutional investors, including the Green Climate Fund (GCF). Anjali Bansal, partner at Avaana Capital, highlighted the significance of this support, emphasizing the role of innovation in driving climate action and creating long-term impact. The fund aims to build the next generation of climate-first companies across three core sectors—Energy and Resource Management, Mobility and…
Solar paraboloid technology is gaining attention as a potential game-changer in the shift towards renewable energy. This advanced form of concentrated solar power (CSP) can increase the efficiency of capturing solar energy, potentially outperforming traditional photovoltaic (PV) systems. Solar paraboloids use parabolic mirrors to focus sunlight onto a receiver tube, heating a fluid to generate electricity or provide heat for industrial use. Operating at higher temperatures (up to 300°C), they achieve greater thermal efficiency by…
PFC Consulting Ltd (PFCCL) has formed a wholly-owned subsidiary, “Bikaner and Bhadla Transmission Complex Ltd,” to serve as the special purpose vehicle (SPV) for the project “Transmission system strengthening to facilitate evacuation of power from Bhadla/Bikaner Complex” aimed at evacuating renewable energy from Rajasthan to load centres in Delhi and Uttar Pradesh. The project, incorporated on October 15, 2024, is part of an ISTS scheme. PFCCL is overseeing the bidder selection process through a tariff-based…
French asset management firm Mirova has committed €480 million ($518 million) to RP Global, an independent power producer (IPP), to advance its 2.5 GW pipeline of clean energy projects across Europe. The investment is split between the Mirova Energy Transition 6 (MET6) fund, providing €200 million, and an additional €280 million from a co-investment vehicle managed by Mirova. This partnership makes MET6 a significant minority shareholder in RP Global. Anne-Laure Messier, Mirova’s investment director, highlighted…
Power utilities have proposed to collect Fuel and Power Purchase Cost Adjustment (FPPCA) charges amounting to Rs 81 billion from power consumers, covering dues from the 2022-23 fiscal year. Discoms filed their request with the Andhra Pradesh Electricity Regulatory Commission (APERC) in November 2022. However, APERC delayed the decision due to elections, scheduling a public hearing for October 8, 2024. If approved, consumers may face an additional charge of Rs 1.27 per unit. The discoms…
BEST petitioned the Maharashtra Electricity Regulatory Commission (MERC) to terminate its power purchase agreement with Tata Power‘s Trombay Unit 5, citing high energy charges ranging from Rs 8 to Rs 11 per unit. BEST argued that these tariffs were burdening 1.08 million consumers in Mumbai. However, MERC dismissed the plea, highlighting transmission constraints in sourcing power from outside Mumbai, necessitating Tata Power’s embedded generation for a secure supply. During a recent bidding, Sai Wardha Power…
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