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Tata Power to acquire 40% stake in Bhutan’s KHPL for Rs 8.3 billion
Tata Power has announced that it will acquire a 40% stake in Khorlochhu Hydro Power Limited (KHPL) for Rs 8.3 billion to develop a 600 MW hydro project in Bhutan. The company is partnering with Druk Green Power Corporation for this project, which has an estimated total cost of Rs 69 billion. In an exchange filing, Tata Power stated that the acquisition would occur in multiple tranches, with the first tranche payment expected within six…
VPI to invest in 500 MW battery storage projects across Germany
Energy company VPI plans to invest up to €450 million in battery storage projects in Germany, aiming to develop 500 MW of capacity over the next three to five years. This investment aligns with Germany’s goal of generating 80% of its electricity from renewables by 2030. Battery storage is essential to balance the electricity grid as renewables, which accounted for 40% of Germany’s power generation in 2023, continue to grow. VPI plans to build ten…
D.E. Shaw, El Paso Electric begin construction on Carne Solar, Storage project in New Mexico
D.E. Shaw Renewable Investments (DESRI), in partnership with El Paso Electric (EPE), has commenced construction on the Carne Solar and Storage project, a 130 MWAC solar and 260 MWh storage facility located in Deming, New Mexico. This marks DESRI’s second solar project in Luna County, following the Alta Luna project that began operations in 2017. The Carne project is set to provide clean, reliable energy to the Southwest, supporting EPE’s goals of achieving 80% clean…
Genus Power secures Rs 29.25 billion contracts for Advanced Metering Infrastructure
Genus Power Infrastructures, through its wholly-owned subsidiary, has secured three Letters of Award (LoAs) totalling Rs 29.25 billion. The contracts are for the provision of Advanced Metering Infrastructure (AMI) on a Design, Build, Finance, Own, Operate, and Transfer (DBFOOT) basis. The scope of work includes designing an AMI system, along with the supply, installation, and commissioning of approximately 3.75 million Smart Prepaid Meters and system meters, including Distribution Transformer (DT) meters. The project also includes…
EDF Renewables wins bid to build Israel’s largest solar plant at record low price
EDF Renewables, a subsidiary of the French energy giant EDF, has secured a contract from the Israeli government to build and operate the country’s largest solar plant. The 300 MW project will be constructed near the southern city of Dimona in the Negev desert, as announced by the Israeli Ministry of Energy and Infrastructure. EDF Renewables submitted a bid of just below ILS 0.07 ($0.019) per kWh, marking the lowest price ever recorded in an…
MNRE increases solar module capacity under ALMM by 2.09 GW
The Ministry of New and Renewable Energy (MNRE) has expanded the Approved List of Models and Manufacturers (ALMM) by adding 2,094 MW of solar module capacity, bringing the total capacity to 58,422 MW. Major additions include SAEL Solar P6 with 2,065 MW and Grew Energy with 29 MW. Meanwhile, ITI, Jyotitech Solar, SunField Energy, and Suryakamal Energy have been removed from the list. New entrants on the provisional list include Ganesh Green Bharat with 131…