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.
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…
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.
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…
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…
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…
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…
Wärtsilä has secured a contract to provide a 150 MW battery energy storage system (BESS) with a 300 MWh capacity for Amp Energy in South Australia. The Bungama BESS project, currently in its initial phase, aims to strengthen energy security and reliability as the state increasingly relies on renewable energy. The system will utilize Wärtsilä’s advanced Quantum High Energy storage technology, designed to offer crucial grid services such as frequency control ancillary services, fast frequency…
ARCO/Murray has been selected to construct a solar manufacturing hub for Boviet Solar in North Carolina, USA. The project, expected to create 900 local jobs, will be executed in two phases to expand solar module and cell production. Phase one, which began in Q3 2024, involves converting an existing 500,000 square-foot facility into a state-of-the-art manufacturing plant for solar modules using Boviet Solar’s technology. The modules will be used in residential, commercial, and utility-scale applications…
The International Energy Agency (IEA) highlighted the vulnerabilities in the global energy system, exacerbated by regional conflicts and geopolitical tensions, in its World Energy Outlook 2024. The IEA underscored the need for stronger policies and investments to hasten the energy transition. Despite these challenges, the agency expects a relatively abundant supply of various fuels and technologies in the coming years, including oil, LNG, solar PV, and batteries. IEA Executive Director Fatih Birol noted that an…