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ReNew plans to double its portfolio to 21 GW in five years
ReNew is set to double its aggregate portfolio to 21 GW over the next five years, Chairman Sumant Sinha announced. This statement came after the release of the company’s first Annual Integrated Report, highlighting its commitment to expanding capacity with environmental considerations. The company surpassed the 10 GW capacity mark in FY24.
Emeren Group reports decline in Q2 net income
Emeren Group (SOL) reported a significant drop in its second quarter net income, falling to $392,000 from $8.35 million the previous year. Earnings per American Depositary Share (ADS) decreased to $0.01, compared to $0.14 in the same period last year. This fell short of analysts’ expectations, who had predicted a profit per share of $0.07, according to Thomson Reuters. The company’s adjusted EBITDA also declined, reaching $4.62 million, down from $9.31 million in the previous…
rPlus Energies secures PPA with Idaho Power for Pleasant Valley Solar 2 project
Renewable energy developer rPlus Energies has finalized a long-term power purchase agreement (PPA) with Idaho Power for its 125 MW Pleasant Valley Solar 2 facility in Ada County, Idaho. This project follows the 200 MW Pleasant Valley Solar 1, also under construction, making Pleasant Valley Solar the largest contracted solar facility within the Idaho Power system. Both projects will supply renewable energy to support Meta’s 100% clean energy goals for its data center in Kuna,…
SJVN seeks approval for 1,500 MW renewable energy tariff
SJVN Limited has filed a petition for the approval of tariffs to supply 1,500 MW of firm and dispatchable power from renewable energy projects connected to the Inter-State Transmission System (ISTS) with energy storage systems. This Build-Own-Operate (BOO) project includes an option to expand capacity by an additional 1,500 MW. The competitive bidding process ensured transparency and fairness. Designated by the Ministry of New and Renewable Energy (MNRE) as an intermediary procurer, SJVN facilitates the…
Amperon launches Asset-Level Renewable Generation Forecasts
Amperon, an AI-powered electricity forecasting and analytics services provider in USA, has launched Asset-Level Renewable Generation Forecasts. This service enables renewable energy producers and utilities to view solar generation forecasts at individual site and aggregate levels for improved portfolio management. Each hour’s forecast accuracy is calculated based on the asset’s nameplate capacity, enhancing transparency and accountability. The forecasts provide 15-day solar predictions updated hourly and sub-hourly at 5-minute intervals, helping reduce financial losses from over-scheduling…
Tata Electronics begins construction of Rs 270 billion chip assembly plant in Assam
Tata Electronics has commenced the construction of a Rs 270 billion chip assembly plant in Assam. The facility, located in Jagiroad, Morigaon district, is expected to be operational by next year. The plant will produce 4,830 million chips daily using indigenously developed technologies. The construction began within five months of approval. The chips produced will be used in vehicles, including electric vehicles, 5G technology, and network infrastructure. India Semiconductor Mission aims to develop 85,000 talents,…