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Suzlon Energy to acquire 76% stake in Renom Energy for Rs 6.6 billion
Suzlon Energy Ltd board has approved the acquisition of 22,80,000 equity shares, representing 76% of Renom Energy Services Private Ltd’s equity share capital, in multiple tranches. The acquisition, valued at Rs 6.6 billion, will make Renom Energy Services a subsidiary of Suzlon Energy. The initial acquisition of a 51% stake (15,30,000 equity shares) will be completed within three months for Rs 4 billion, subject to closing conditions outlined in the sale and purchase agreement (SPA)….
AP, NVVN to install solar rooftop systems on all government buildings
Andhra Pradesh has committed to installing solar rooftop systems on all its government buildings by 2025 as part of the PM Surya Ghar scheme. An MoU was signed between NTPC Vidyut Vyapar Nigam Ltd (NVVN) and the New & Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP). In the first phase, 300 MW of solar rooftop systems will be installed. NVVN will oversee installation, operation, and maintenance for 25 years, providing solar power at…
India’s power demand to grow by 15 GW annually
India’s power demand is set to increase at a rate of 15 GW per year over the next six years, up from 11 GW per year over the past decade, according to Srikant Nagulapalli, Additional Secretary for Power. Speaking at an Industry Conclave organized by IEEMA, Nagulapalli highlighted that by 2030, an additional 85 GW of demand will be added during solar hours, with more than 90 GW added to peak demand during non-solar hours….
Voltalia and TAQA Arabia partner for Zafarana wind farm in Egypt
Voltalia and TAQA Arabia have signed a memorandum of understanding (MOU) with Egypt’s Ministry of Electricity to repower the 545 MW Zafarana wind farms, originally commissioned two decades ago. The partnership will also develop a 3 GW hybrid renewable energy solution comprising 1.1 GW of wind power and 2.1 GW of solar power. The first phase of the project is expected to be commissioned in 2028. Technical and environmental studies will assess wind speeds, solar…
Hanford site to become 1 GW solar farm
The Hanford site, a former nuclear production complex in Washington state, is set for a transformation into a 1GW solar farm. This project, part of the US Department of Energy’s (DOE) Cleanup to Clean Energy initiative, will be executed in partnership with Hecate Energy. Established in 1943 for the Manhattan Project, Hanford’s nuclear reactors were decommissioned in 1960, with extensive cleanup beginning in the 1980s. Now safe, the site is ready for redevelopment, including solar…
Premier Energies’ subsidiaries receive orders worth Rs 5.6 bn
Premier Energies International and Premier Energies Photovoltaic, subsidiaries of Premier Energies, have received and accepted multiple orders totalling Rs 5.6 billion. Two large independent power producers (IPPs) and others have awarded the contracts. These orders comprise Rs 5.13 billion for solar modules and Rs 470 million for solar cells. The supply of these modules will commence in December 2024 and is expected to conclude by May 2025.