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SB Energy’s Orion Solar Belt projects begin commercial operations

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SB Energy Global, backed by SoftBank Group, has commenced commercial operations for the Orion Solar Belt projects—Orion I, Orion II, and Orion III—in Milam County, Texas. The combined capacity of these utility-scale solar projects is 875 MWdc, contributing to the Texas power grid. The project utilizes over 1.3 million American-made solar modules, featuring domestic steel and components, emphasizing SB Energy’s commitment to supporting local industries and sustainable energy practices. The solar projects are key in…

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BOEM finalises environmental review for wind leases in New York Bight

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The US Bureau of Ocean Energy Management (BOEM) has completed an environmental review for six wind lease areas in the New York Bight, potentially generating up to 7GW of offshore wind energy.  This development supports the Biden-Harris administration’s goal of deploying 30GW of offshore wind capacity by 2030. The lease areas span 488,000 acres off the coasts of New York and New Jersey, with the potential to supply power to two million homes. BOEM’s review,…

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Scatec achieves financial close for South Africa’s 103 MW Mogobe BESS

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Scatec has reached financial close for its 103 MW/412 MWh Mogobe battery energy storage system (BESS) in South Africa. The project, Africa’s first and largest standalone dispatchable BESS, is set to begin construction near Kathu in the Northern Cape. Scatec holds a 51% equity share, with Perpetua Mogobe (RF) owning 46.5%, and the Mogobe Local Community Trust holding 2.5%. The Mogobe BESS was awarded a 15-year power purchase agreement (PPA) under South Africa’s battery energy…

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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…