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ACCIONA Energía acquires 300 MW of wind capacity in Texas

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ACCIONA Energía has acquired two wind farms in Texas, Green Pastures I and Green Pastures II, each with a capacity of 150 MW.  Located in Baylor and Knox Counties, these fully operational projects were acquired from private asset management firms for $202.5 million, boosting ACCIONA’s total installed capacity in the US. The two wind farms are integrated into the Electric Reliability Council of Texas (ERCOT) grid, which handles 90% of Texas’s electricity. Together, they will…

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ACME Solar launches Rs 30 billion IPO

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ACME Solar launched its initial public offering (IPO) today, November 6, 2024, valued at Rs 30 billion, with a price band of Rs 275 to Rs 289 per equity share. The IPO, open until Friday, November 8, 2024, requires a minimum bid of 51 shares, with additional bids in multiples of 51.  The offering includes a fresh issue of Rs 23.95 billion and a sale offer of Rs 5.05 billion by ACME Cleantech Solutions. An…

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Apollo Green plans 500 MW solar module plant

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Apollo Green Energy is set to establish a 500 MW solar module plant within the next two to three years, aligning with India’s target to reach 500 GW of renewable capacity by 2030, up from the current 154 GW.  The company, specializing in renewable projects, has an order book of Rs 35 billion (USD 416 million) and aims to expand it to Rs 100 billion within this financial year.  The site for the plant is…

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IEX records 4% increase in traded electricity volume in October 2024

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The Indian Energy Exchange (IEX) reported a traded electricity volume of 9,642 million units (MU) in October 2024, marking a 4% year-on-year growth. IEX also traded 4.44 lakh renewable energy certificates (RECs) in October, a notable 105% increase from the previous year. India’s energy consumption for October reached 140.4 billion units (BUs), a 1% increase from the previous year, according to government data. The Market Clearing Price in the Day-Ahead Market (DAM) fell 39% year-on-year…

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India to revamp electricity demand forecasting to enhance grid stability

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India is overhauling its electricity demand forecasting approach to better align generation capacity with actual needs and support grid stability amid growing clean energy volumes.  The Central Electricity Authority (CEA) is collaborating with weather agencies for enhanced environmental data and plans to increase forecast frequency, transitioning from assessments every five years to a two-year and eventually annual schedule, according to Chairperson Ghanshyam Prasad. Rising usage of intermittent solar and wind energy, combined with changing power…

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India approves 50 solar parks to boost 37.5 GW renewable capacity

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The Union Ministry of Renewable Energy has approved the establishment of 50 solar parks with a combined capacity of 37.5 GW, marking a major milestone in India’s renewable energy journey.  These solar parks will be strategically placed across various states to optimize energy generation and distribution, supporting India’s goal to transition towards cleaner energy sources and reduce reliance on fossil fuels. Alongside the solar parks, the government is expanding offshore wind energy projects along the…

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Airox Nigen expands with 1 MW green hydrogen system in Russia

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Airox Nigen has launched a 1 MW green hydrogen system in Russia, marking a significant step in its global expansion and commitment to environmental sustainability.  This system, designed to produce hydrogen without greenhouse gas emissions, aligns with Airox Nigen’s strategy to strengthen its international presence and contribute to the global shift towards renewable energy.  Through these installations, the company aims to reduce carbon footprints and support climate change mitigation efforts across diverse markets.

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ISA’s seventh assembly showcases global solar initiatives and launches new projects

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The International Solar Alliance (ISA) opened its seventh Assembly session in New Delhi, with ministers from 29 nations in attendance. India’s Minister for New and Renewable Energy and ISA Assembly President, Shri Pralhad Joshi, emphasized the pivotal role of solar energy, stating, “Solar energy is leading the world toward a sustainable future.” He noted ISA’s successful completion of 21 of 27 demonstration projects, showcasing significant strides in solar energy deployment globally, especially in Least Developed…

Power Sector News Roundup for November 5, 2024

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Global: ACWA Power secures $240 million IFC loan for Uzbekistan’s RE projects HydroWing and PLN to develop Indonesia’s first tidal energy plant Huasun Energy to supply 1 GW of HJT solar modules for Power China’s offshore PV project Avantus sells Catclaw Solar and Energy Storage Project to DESRI India: Premier Energies’ subsidiaries receive orders worth Rs 5.6 billion Gensol Engineering secures Rs 7.8 billion solar EPC order in Maharashtra NTPC and ONGC partner to drive…

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HydroWing and PLN to develop Indonesia’s first tidal energy plant

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HydroWing, a division of Inyanga Marine Energy Group, has signed a binding agreement with a sub-holding of Indonesia’s state-owned power company, PLN (Perusahaan Listrik Negara), to develop the country’s first tidal energy project.  The 10 MW tidal current power plant is planned for East Nusa Tenggara in the Indonesian archipelago. This partnership builds upon a 2022 Memorandum of Understanding between HydroWing and PLN aimed at accelerating tidal energy development in Indonesia through site selection, resource…