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JSW subsidiary signs pumped hydro storage deal with MSEDCL
JSW Energy PSP Two, a subsidiary of JSW Energy, has signed an energy storage facility agreement (ESFA) with Maharashtra State Electricity Distribution Company (MSEDCL) for 1,500 MW/12,000 MWh of pumped hydro energy storage. The agreement follows the letter of intent received on 01 October 2024. Under the ESFA, the company will supply energy storage capacity for 40 years and receive a fixed capacity charge of Rs 8.47 million per MW annually. The Bhavali pumped hydro…
Maharashtra to provide farmers with free daytime electricity
Deputy Chief Minister Devendra Fadnavis has announced that farmers in Maharashtra will receive free electricity during the daytime once the state government completes a 1,200 MW solar power project. The project, expected to be completed within 18 months, will also save the state government Rs 10 billion. Speaking to farmers in Chimur tehsil, Fadnavis assured that once the project is operational, farmers will have access to 12 hours of free electricity every day throughout the…
Surge in renewables turns electricity prices negative
The surge in solar panels and wind turbines is leading to an increase in negative wholesale electricity prices. This phenomenon, occurring in regions such as southern Australia, southern California, France, and Switzerland, happens when production exceeds demand. For example, in southern Australia, negative prices have been recorded about 20 per cent of the time since last year. Southern California saw negative prices over 20 per cent of the time in the first half of 2024,…
Indian solar panels face US scrutiny for possible links to China forced labor
Since October, the US Customs and Border Protection (CBP) has detained nearly $43 million worth of electronics equipment shipments from India under the 2022 Uygur Forced Labor Prevention Act (UFLPA). This marks a new area of focus for the trade enforcement agency, which aims to prevent goods made with forced labor from entering the US market. While CBP has not specified the types of detained electronics, industry sources indicate that polysilicon, a key material in…
IREDA Chairman calls for Green Taxonomy and lower borrowing costs
Shri Pradip Kumar Das, Chairman & Managing Director of the Indian Renewable Energy Development Agency Limited (IREDA), emphasized the agency’s commitment to reducing borrowing costs and improving the bankability of India’s renewable energy sector at the CII Financing 3.0 Summit in Mumbai. He stressed the importance of a Green Taxonomy in accelerating the growth of India’s green energy initiatives. During his address on “Green Financing, Climate Risks and Sustainable Taxonomy: Way Forward,” Shri Das highlighted…
CESL issues tender for EV charging stations in Faridabad, Haryana
Convergence Energy Services Limited (CESL) has launched a tender to establish and maintain EV charging stations at seven locations within the Municipal Corporation of Faridabad, Haryana. Bids are due by October 30, 2024, with an opening on the same day. The tender requires a Rs 15,000 document fee and an earnest money deposit of Rs 212,000. The project is expected to complete within four months of award issuance or no-objection certification. Successful bidders will implement…