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Azure Power to prepay USD 350 million green bonds maturing in December 2024

India, News

Azure Power Global Limited has announced plans to prepay its USD 350 million green bonds, originally issued in 2019 and set to mature in December 2024. These bonds, listed in Singapore and backed by ten solar projects commissioned between 2016 and 2019, are being refinanced through a term loan valued at approximately Rs 24 billion, underwritten solely by REC Limited. The projects covered under this refinancing have a combined capacity of 615 MW and are…

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Power supply and allocation overview for August 2024

Analysis, Data Insights

The peak power demand in India for August 2024 reached 2,49,856 MW, with 2,49,854 MW being met, a marginal shortfall of 2 MW. Many states were able to meet their peak power demand in full. Delhi had a peak demand of 8,656 MW, which was fully met, and Maharashtra similarly met its demand of 28,924 MW. In certain regions, small deficits were observed. For example, UT of J&K and Ladakh had a peak demand of…

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Transformation and transmission capacity overview for August 2024

Analysis, Data Insights

As of August 2024, the total transformation capacity in India reached 12,69,350 MVA. During the financial year 2024-25, up until August, a total of 18,270 MVA had been added to the country’s substations, with 3,650 MVA being added in August alone.  The Central Sector contributed 6,330 MVA out of the planned 51,645 MVA during the first five months of FY 2024-25. Power Grid Corporation India Limited (PGCIL) added 6,015 MVA during this period. The progress…

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Report: Power supply and allocation updates for July 2024

Analysis, India, News

In July 2024, India’s energy requirement was 150,207 MU, and the energy supplied was 149,852 MU, resulting in a deficit of 355 MU. The Northern Region had the highest energy requirement at 54,849 MU, with a supply of 54,580 MU, leading to a shortfall of 269 MU. The Western Region required 41,066 MU and supplied 41,036 MU, facing a deficit of 30 MU. The Southern Region’s requirement was 33,352 MU, and it met almost all…

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Sunkind Energy secures 27 MW of new solar power projects

India, News

Clean energy company Sunkind Energy has announced that it has secured new solar power projects totalling around 27 MW. These contracts have been awarded by Nahar Group and Jindal Group, according to a company statement. For Nahar Group, Sunkind Energy will set up a 7.3 MW capacity in Ludhiana, Punjab, for captive purposes, and a 19.6 MW captive solar project for Jindal Group in Nashik, Maharashtra. Both projects will be executed in engineering, procurement, and…

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Strengthening Renewable Purchase Obligations

Analysis, Features

The Electricity Act of 2003 mandates State Electricity Regulatory Commissions (SERCs) to set minimum renewable energy (RE) shares for states, known as Renewable Purchase Obligations (RPOs), which apply to distribution companies (DISCOMs) and other obligated entities. It binds entities to purchase a certain percentage of their total electricity consumption from RE sources. Initially, RPOs were divided into solar and non-solar categories. In 2019, hydro power obligations (HPO) were introduced, and in 2022, RPOs were categorized…

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