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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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Torrent Power signs SSSA with LMCL and TU17

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Torrent Power Limited has entered into a share subscription and shareholders agreement (SSSA) with Lakshmi Mills Company Limited (LMCL) and its subsidiary, Torrent Urja 17 Private Limited (TU17). This agreement involves the supply of 8.5 MWp of solar power to LMCL’s production units via open access from TU17’s renewable energy project. Under the agreement, LMCL must retain a minimum of 26 per cent ownership in TU17 throughout the power supply period. Additionally, Torrent Power has…