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BluPine Energy commissions 120 MW solar project in Gujarat

India, News

BluPine Energy has commissioned a 120 MW solar project in northern Gujarat, consisting of a 70 MW plant at Radhanpur and a 50 MW plant at Nenava. The project, completed in 18 months, was funded through green financing from Standard Chartered Bank under a Gujarat Urja Vikas Nigam (GUVNL) tender. The plants will generate approximately 3.23 lakh MWh of solar energy annually, offsetting 2.96 lakh tonnes of CO2 emissions and providing power to around 2.7…

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Lupin to acquire 42.61% stake in Sunsure Solarpark

India, News

Lupin Limited has signed a share subscription and shareholders agreement with Sunsure Solarpark Seventeen Private Limited and Sunsure Energy Private Limited to acquire up to 42.61% of Sunsure Solarpark’s shares through an investment of Rs 105.53 million, completed in two stages. This investment will allow Lupin to source renewable energy for its Tarapur manufacturing site, reducing power costs and advancing its decarbonization goals. The transaction is expected to be finalized within the next six months.

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Sunsure signs PPA to supply 21 MW solar power to Lupin

India, News

Sunsure Energy has signed a power purchase agreement (PPA) to provide 21 MW (31.5 MWp) of solar power to pharmaceutical giant Lupin. The power will be sourced from Sunsure’s 100 MW (150 MWp) solar plant in Solapur, Maharashtra, boosting renewable energy use across Lupin’s Tarapur facility.   Sunsure is also developing 500 MW of solar and wind energy parks in Maharashtra, with additional PPAs signed with companies such as KSB Pumps, Dabur, and Inox Air Products.

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Grew Energy to supply TOPCON modules for BluPine Energy’s solar project in Gujarat

India, News

Grew Energy has signed a module supply agreement with BluPine Energy Private Limited for a solar project in Banaskantha, Gujarat. Grew Energy will provide BluPine with advanced TOPCON modules, commonly used in commercial and industrial solar power projects. In May 2024, Grew Energy announced plans to build a fully backward-integrated manufacturing plant in Kathua, Jammu & Kashmir, with an investment of Rs 4.5 billion. BluPine Energy, which has a 4 GW renewable energy portfolio in…

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MNRE proposes ALMM expansion to include solar PV cells, raising concerns over cost and supply

India, News

The Ministry of New and Renewable Energy (MNRE) has proposed adding solar photovoltaic (PV) cells to its Approved List of Models and Manufacturers (ALMM), with implementation expected by April 2026.  This new category, termed “ALMM List-II,” would mandate that all ALMM-compliant solar projects source cells from certified domestic manufacturers. Experts caution that this move could increase tariffs by 40-50 paise per unit, affecting project costs, timelines, and India’s renewable energy targets.  Industry leaders, including AMPIN…

Key Power Sector News Roundup for September 26, 2024

Power Bytes

MERC approves MSEDCL’s procurement of 5,991 MW solar power The Maharashtra Electricity Regulatory Commission (MERC) approved MSEDCL’s procurement of 5,991 MW solar power under Mukhyamantri Saur Krushi Vahini Yojana 2.0. The Rs 3.10 per kWh ceiling tariff ensures competitive pricing. This initiative aims to solarize 30% of agricultural feeders by 2025, helping meet rising renewable purchase obligation (RPO) targets and easing Koyna hydroelectric plant’s peak demand. Zelestra signs 450 MW solar power supply agreement with…

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Sunsure Energy secures Rs 100 billion debt financing from REC

India, News

Sunsure Energy has signed an agreement with REC for debt financing worth Rs 100 billion to support the development of 3 GW of solar, wind, hybrid, and battery energy storage system (BESS) projects. The deal was inked during the fourth Global RE-Invest Meet and Expo organized by the Ministry of New and Renewable Energy (MNRE) in Gujarat. This financing will enable Sunsure Energy to expand its portfolio of open-access hybrid projects across India, helping the…

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SECI Tranche XVI auction results: 500 MW of solar projects awarded

India, News

The Solar Energy Corporation of India Limited (SECI) has announced the results of its Tranche XVI auction to develop 1.2 GW of inter-state transmission system (ISTS) connected solar projects across India. The auction, which was issued in May 2024, awarded a total of 500 MW of capacity. Sustainable and Affordable Energy for Life (SAEL) Industries Limited and NTPC Limited secured 250 MW and 200 MW respectively, both at a tariff of Rs 2.48 per kWh….