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DVC highest bidder for Hiranmaye Energy assets

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Damodar Valley Corporation (DVC) has emerged as the highest bidder in the auction for Hiranmaye Energy’s assets, offering Rs 15 billion, surpassing the reserve price of Rs 13 billion.  This marks DVC’s first acquisition, adding to its total installed capacity of around 6,700 MW, including greenfield and brownfield expansions.  Hiranmaye Energy operates a 300 MW thermal power plant in Haldia, West Bengal, with two units of 150 MW each. The company holds a 25-year power…

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EEX, IGX, and GIZ partner to develop hydrogen trading market in India

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The European Energy Exchange (EEX), Indian Gas Exchange (IGX), and GIZ (Gesellschaft für Internationale Zusammenarbeit) have signed an agreement to establish a hydrogen trading market in India.  This initiative is part of the International Hydrogen Ramp-Up (H2Uppp) program, funded by the German Federal Ministry for Economic Affairs and Climate Action (BMWK). The program aims to support green hydrogen projects in emerging markets like India. The partnership will initially focus on gathering market insights and building…

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KPI Green signs PPAs with GUVNL for renewable energy projects

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KPI Green Energy has signed power purchase agreements (PPAs) with Gujarat Urja Vikas Nigam (GUVNL) for 620 MWAC (917 MWDC) renewable energy projects.  The agreement includes a 250 MWAC (275 MWDC) grid-connected solar photovoltaic project, won through a competitive bidding process under Phase-XXIV, aimed at procuring power from 500 MW grid-connected solar projects across India, with an additional greenshoe option for up to 500 MW. Additionally, KPI Green secured a 370 MWAC (642 MWDC) grid-connected…

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PGPPL signs SPA to acquire 100 per cent stake in Deshraj Solar Energy

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Purvah Green Power Private Limited (PGPPL), a wholly owned subsidiary of CESC Limited, has signed a share purchase agreement (SPA) to acquire a 100 per cent stake in Deshraj Solar Energy Private Limited.  Upon completion, Deshraj Solar Energy will become a step-down subsidiary of CESC. This acquisition aligns with CESC’s strategy to expand its presence in the renewable energy sector.

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MNRE clarifies ALMM exemption for solar projects with prior approval

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The Ministry of New and Renewable Energy (MNRE) has clarified that its Approved List of Models and Manufacturers (ALMM) order does not apply to open access and net-metering solar projects that secured approvals before October 1, 2022.  According to an official memorandum, this exemption covers projects where the initial application for approvals, such as in-principle approval or no objection certificate, was submitted before the specified date. The application must have been filed with relevant authorities…

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Hidden crystal structures unlocked: New avenues for thermoelectrics and solar thermal conversion

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A research team at Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR), Bangalore, led by Prof. Kanishka Biswas, has made a groundbreaking discovery where the local crystal structure symmetry decreases with rising temperatures, defying the typical trend of increasing symmetry with heat. This rare phenomenon was observed in the all-inorganic two-dimensional halide perovskite, Cs2PbI2Cl2. The research highlights the significance of local symmetry breaking, termed “emphanisis,” where local atomic distortions increase upon heating, while the global…

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Tembo Global secures PPA for 124 MW solar project in Maharashtra

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Tembo Global Industries announced it has secured its first power purchase agreement (PPA) from the Maharashtra government for a 124 MW solar project.  The project, with an estimated cost of Rs 5.95 billion, is expected to be completed within 18 months, the company said in an exchange filing. This solar initiative will not only bolster the local energy supply but also create jobs and stimulate economic growth in the region. Tembo’s investment in solar energy…

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Avaada Energy secures Rs 5.97 billion refinancing for solar projects

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Avaada Energy, part of Avaada Group, has secured approximately Rs 5.97 billion in refinancing for its commercial and industrial (C&I) solar projects in Karnataka and Maharashtra.  The refinancing was provided by NIIF Infrastructure Finance Limited (NIIF IFL), a debt fund focused on operational infrastructure projects. Avaada’s solar projects supply power to major corporations such as Bharti Airtel, Motherson, Bharat Forge, STT, Nxtra Data, and Lumax, supporting their energy transition initiatives. The refinancing deal allows Avaada…

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CEA concludes Brainstorming Conclave on Indian Power Sector Scenario 2047

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The Central Electricity Authority (CEA) concluded its two-day Brainstorming Conclave on the ‘Indian Power Sector Scenario 2047’ in New Delhi on October 14-15, 2024. The event, attended by over 1,500 delegates, featured discussions on expanding hydropower, integrating energy storage systems, modernizing distribution networks, and fostering cross-border energy cooperation. Key dignitaries, including Union Power Minister Manohar Lal, emphasized India’s strategy to meet growing energy needs while transitioning to cleaner sources. The conclave also focused on capacity…

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SPV incorporated for Bhadla-Bikaner complex ISTS scheme

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PFC Consulting Ltd (PFCCL) has formed a wholly-owned subsidiary, “Bikaner and Bhadla Transmission Complex Ltd,” to serve as the special purpose vehicle (SPV) for the project “Transmission system strengthening to facilitate evacuation of power from Bhadla/Bikaner Complex” aimed at evacuating renewable energy from Rajasthan to load centres in Delhi and Uttar Pradesh. The project, incorporated on October 15, 2024, is part of an ISTS scheme. PFCCL is overseeing the bidder selection process through a tariff-based…