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Gensol, Matrix to develop India’s first green steel production facility

India, News

Gensol Engineering has partnered with Matrix Gas & Renewables to establish India’s first green steel production facility using 100% green hydrogen.  The project, with a total capital expenditure of Rs 3.21 billion, will receive 50% capex incentives from the Government of India under the National Green Hydrogen Mission. Sanctioned as one of three pilot projects by MECON, in coordination with the Ministry of Steel (MoS) and the Ministry of New and Renewable Energy (MNRE), the…

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Matrix Gas & Renewables aims to raise up to $143 million in IPO

India, News

Matrix Gas & Renewables, a subsidiary of Gensol Group, is preparing to raise Rs 10-12 billion ($119-$143 million) through an initial public offering (IPO) next year, according to CEO Chirag Kotecha. The funds will support the company’s ambitious plans to develop 1,000 MW of green hydrogen projects over the next three years. With India’s equity market seeing a surge in IPOs, Matrix Gas aims to capitalize on favourable market conditions. The company plans to allocate…

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Matrix Energia issues Brazil’s first green bond for battery energy storage

Global, News

Brazilian electricity company Matrix Energia has completed the country’s first green debenture issuance worth 100 million Brazilian reais ($17.9 million) to fund the construction of 224 MWh of battery energy storage capacity by 2025. This marks the first green issuance for a battery energy storage system (BESS) in Brazil and the second green issuance for a renewable project by Matrix Energia. Led by Caixa Econômica Federal, the six-year issuance was raised by Matrix Energia’s subsidiary,…

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Gensol-Matrix consortium emerges as L1 for India’s first hydrogen project

India, News

Gensol Engineering, in partnership with green hydrogen infrastructure developer Matrix Gas & Renewables, has emerged as the lowest bidder (L1) for India’s first biomass-to-green hydrogen project. The Rs 1.64 billion project aims to establish a facility capable of processing 25 TPD (tonnes per day) of bio-waste to produce 1 TPD of green hydrogen. The consortium has teamed up with Westinghouse, USA, known for its experience in commissioning plants globally, to use its pre-gasification plasma-induced radiant…

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Gensol-Matrix win Rs 4.5 billion PLI award for 237 MW hydrogen electrolyser project

India, News

Gensol Engineering Ltd and Matrix Gas & Renewables Ltd have secured a Rs 4.5 billion production-linked incentive (PLI) award to manufacture a 237 MW hydrogen electrolyser. The award is part of a competitive tender issued by the Solar Energy Corporation of India (SECI), with the consortium’s total secured capacity reaching 300 MW, including a previous 63 MW award under the first tranche.

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Matrix Renewables secures EUR 50 million EIB loan for solar projects in Spain

Global, News

Matrix Renewables has obtained a EUR 50 million (USD 54.6 million) green loan from the European Investment Bank (EIB) to finance new solar projects in Spain. The funds will support the design, construction, and operation of five solar farms with a total capacity of 240 MW in Castile and Leon and Extremadura, regions with lower-than-average EU per-capita income. The solar farms are expected to be operational by the end of 2025. This loan aligns with…

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rPlus Energies secures PPA with Idaho Power for Pleasant Valley Solar 2 project

Global, News

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,…

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Union government sanctions three pilot projects for hydrogen use in steel production

India, News

As part of the National Green Hydrogen Mission, the Indian government has approved three pilot projects aimed at utilizing hydrogen in steel production.  The projects include a 50 ton-per-day (tpd) plant by Matrix Gas and Renewables Ltd (in collaboration with Gensol Engineering Ltd, IIT Bhubaneswar, and Metsol AB, Sweden), a 40 tpd plant by Simplex Castings Ltd (partnered with BSBK, Ten Eight Investment, and IIT Bhilai), and a 3,200 tpd plant by Steel Authority of…

Power Sector News Roundup for October 4, 2024

Power Bytes

Global Development: TotalEnergies kick-starts its largest US utility-scale solar farms with batteries. GE Vernova to supply 38 turbines for Boulder Creek Wind Farm in Queensland. RES sells 436.5 MW Tarong West Wind Farm to Stanwell in Australia. Texas approves Permian Basin Reliability Plan to meet rising electricity demand. China has invested over $100 billion overseas in cleantech since 2023. Axess Technologies secures cable installation contract for Denmark’s Thor offshore project. Powin secures $200 million credit…

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Nuclear Energy and the Future: A Journey Through Material Innovation

Analysis, Opinions and Perspective

Advancement of Nuclear Energy Through a Materials Engineering Perspective Climate change and diminishing fossil fuels have fostered the development of cleaner and more sustainable energy sources since the past half a century. Advancements in nuclear energy have been gaining renewed attention as a source of stable and non-intermittent energy. Advanced nuclear reactors, heralded as the next generation of nuclear technology, promise to deliver safer, more efficient, and more sustainable energy. However, the success of these…