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GUVNL issues tender for 200 MW BESS in Gujarat

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The Gujarat Urja Vikas Nigam (GUVNL) has announced a tender to develop a 200 MW/1600 MWh standalone battery energy storage system (BESS) in Gujarat.  The developer selection will occur through a tariff-based competitive bidding process (Phase-V).  The BESS will have a daily capacity of 1600 MWh. It will draw power from the Gujarat Energy Transmission Corporation (GETCO) network for charging and inject power back into the network as directed by the State Load Dispatch Centre…

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Oriana Power secures 75 MW solar project from MSEDCL

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Oriana Power Limited has won an order from Maharashtra State Electricity Distribution Company Limited (MSEDCL) to develop a 75 MW solar power plant in Maharashtra. The project falls under Component C of the PM-KUSUM Scheme, focusing on feeder-level solarisation and includes land and transmission line development. Additionally, Oriana Power recently secured a 128 MW solar project from Dalmia Cement in Tamil Nadu, valued at Rs 5.2 billion, further expanding its renewable energy portfolio.

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European green electricity PPA prices fall 12.4% in Q3 2024, LevelTen reports

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According to LevelTen, a price tracking platform, European power purchase agreement (PPA) prices for green electricity dropped by 12.4% in Q3 2024 compared to the same period in 2023.  This decrease is attributed to declining inflation and reduced market volatility following the COVID-19 pandemic and the 2022 energy crisis. LevelTen’s quarterly report suggests that current stable market conditions present an opportunity for buyers to secure favourable deals. The variety of offtake opportunities for potential PPA…

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Integrum Energy Infrastructure files DRHP for IPO

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Integrum Energy Infrastructure has reportedly filed a draft red herring prospectus (DRHP) for an initial public offering (IPO).  The IPO will include a fresh issue of up to 4.95 million equity shares and an offer for sale of up to 0.54 million equity shares.  The proceeds will be directed toward the development of a new solar plant and meeting the company’s working capital needs.

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NTPC announces winners of 1.2 GW ISTS-connected solar auction; allocates 976 MW

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NTPC has released the results of its 1.2 GW ISTS-connected solar projects auction. The winning companies include SAEL Industries, Rays Power Infra, Refex Green, ReNew Solar, and Illuminate Hybren (Mahindra Susten).  SAEL secured 300 MW, Rays Power 100 MW, and Refex Green 100 MW, all at a tariff of Rs 2.50 per kWh. ReNew Solar and Illuminate Hybren were awarded 300 MW and 176 MW at a tariff of Rs 2.51 per kWh. Although the…

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BSPGCL issues tender for solar project in Patna

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Bihar State Power Generation Company (BSPGCL) has issued a tender for procuring solar power from grid-connected solar PV projects ranging from 2 MW to 20 MW in Patna.  The project, designed as a ground-mounted installation with a raised structure over ponds, will be constructed under the RESCO mode for a total capacity of 20 MW. The contract is valued at Rs 1 billion, and the deadline for bid submission is 12 November 2024.

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Azure Power secures REC and HSBC refinancing, completes early bond prepayment

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Azure Power Global Ltd, a leading renewable power producer in India, has completed an Rs 24 billion refinancing transaction structured as an INR Term Loan underwritten solely by REC Ltd.  This transaction enabled the company to prepay its $350 million Green Bonds, originally issued in 2019, which were set to mature in December 2024. These bonds were backed by 10 solar projects commissioned between 2016 and 2019. Previously, Azure Power completed an Rs 13 billion…

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Borosil calls for anti-dumping duty on Chinese solar glass

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Borosil Renewables, a leading solar glass manufacturer in India, has called on the government to impose an anti-dumping duty on Chinese solar glass imports to safeguard domestic producers.  Shreevar Kheruka, Vice Chairman of Borosil Renewables, alleged that Chinese companies are exporting solar glass to India at prices significantly below their production costs, harming Indian manufacturers. These glasses are crucial for solar panel production, which is vital for India’s renewable energy growth. Kheruka stated that Chinese…

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IIT Indore develops catalyst for economical hydrogen production from methanol

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The Indian Institute of Technology (IIT) Indore has developed a catalyst that produces pure hydrogen from methanol at a significantly lower temperature and cost compared to traditional methods.  The catalyst, developed under the leadership of Professor Sanjay K Singh from the Department of Chemistry, allows hydrogen production at 130 degrees Celsius, whereas conventional methods require temperatures exceeding 200 degrees Celsius. This new catalyst can produce one kilogram of hydrogen from 13 litres of methanol, offering…

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BP considers selling minority stake in offshore wind division

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BP is exploring the sale of a minority stake in its offshore wind division to offset the substantial development costs associated with its projects, as reported by Reuters. This move follows shareholder pressure over BP’s 2020 energy transition strategy, as profits from renewables have fallen while oil and gas margins have risen. The company has engaged Bank of America to identify potential partners as it seeks to reduce its financial burden in the growing offshore…