Latest Regulatory Developments in Renewable Sector: February 12, 2025

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MPERC approves Nahar Spinning Mills’ review petition on RPO compliance The Madhya Pradesh Electricity Regulatory Commission (MPERC) has approved Nahar Spinning Mills Limited’s petition for a review of the order dated October 4, 2024, in suo motu Petition No. 45 of 2024. The commission noted that in response to a notice requesting details of open access energy drawn from the energy exchange between FY 2010-11 and FY 2023-24, the petitioner submitted data on renewable energy…

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EIA forecasts solar power growth will drive US power generation up to 2027

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The US Energy Information Administration (EIA) projects that solar power will lead the growth in US power generation through 2027.  In its latest short-term energy outlook, the EIA estimates utilities and independent power producers will add 26GW of solar capacity in 2025 and 22GW in 2026, following a record 37GW added in 2024. Wind power is also expected to grow, with 8GW forecasted in 2025 and 9GW in 2026. Renewable generation will rise by 12%…

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Waaree Solar Americas starts commercial production of solar modules in Texas

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Waaree Solar Americas, a wholly-owned subsidiary of Waaree Energies Limited (WEL), has begun the commercial production of solar modules at its manufacturing facility in Brookshire, Texas, with a capacity of 1,600 MW. This facility marks a key step in localising solar module manufacturing in the United States, supporting job creation and reducing dependence on imported solar products.  The Texas plant will produce high-quality photovoltaic modules to meet the growing demand for renewable energy solutions in…

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CleanMax secures financing to develop solar projects in UAE

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CleanMax has secured a long-term credit facility of AED 99 million from Hong Kong and Shanghai Banking Corporation (HSBC) to develop and finance its onsite solar portfolio in the UAE. The facility will support the installation of 92 solar assets across industrial facilities, malls, schools, and universities. Additionally, the financing includes an uncommitted accordion of AED 37 million for future projects, in line with the UAE’s Net Zero 2050 strategy.

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AboitizPower, UGEP sign solar PPA with Republic Cement in Bulacan

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AboitizPower and Upgrade Energy Philippines (UGEP) have signed a long-term solar power purchase agreement (PPA) with Republic Cement & Building Materials (RCBM).  Their joint venture, Aboitiz Upgrade Solar (AUSI), will develop, build, and operate a ground-mounted solar project at RCBM’s Bulacan facility. The project, slated for completion in the second half of 2025, aims to lower operational costs and carbon emissions for the cement manufacturer.

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Sembcorp inaugurates 588 MW solar project in Oman

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Sembcorp Industries has inaugurated the 588 MW Manah 2 Solar Independent Power Project in Manah, Oman, marking its first greenfield renewables development in the Middle East.  Backed by a 20-year 500 MW power purchase agreement with Nama Power and Water Procurement Company, the project began commercial operations on December 30, 2024, following successful acceptance tests. Spanning 6.8 million square meters in the Ad Dakhiliyah region, the project employs over 1 million bi-facial photovoltaic solar panels,…

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Waaree secures Rs 2.77 billion solar EPC project

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Waaree Renewable Energy Technologies Limited (formerly Sangam Renewables Limited) has received a Letter of Intent (LoI) to develop a 105 MWp solar power project on an engineering, procurement, and construction (EPC) basis in India. The LoI, valued at Rs 2,772 million, was awarded on January 20, 2025. The project is scheduled for completion in the financial year 2026.

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Reliance to invest Rs 100bn in Asia’s largest solar project

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Reliance NU Suntech, a subsidiary of Reliance Power, plans to invest Rs 100 billion ($1.16 billion) in a solar power plant with a battery energy storage system (BESS) in Kurnool, Andhra Pradesh.  The project, set to be Asia’s largest solar and BESS initiative, will include a 930 MW solar energy facility and a 465 MW/1,860 megawatt-hours BESS, ensuring peak power supply for four hours daily. The project is part of a larger 2,000 MW bid…

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Mirova invests $10 million to fund C&I solar projects in Vietnam

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Mirova, an affiliate of Natixis Investment Managers, has invested $10 million in ecoligo, a global provider of commercial and industrial (C&I) solar solutions.  This investment will fund a portfolio of greenfield C&I solar rooftop projects in Vietnam and marks the Mirova Gigaton Fund’s first investment in the country. The senior debt financing will enable ecoligo to expand its C&I solar business in Vietnam, further advancing Sustainable Development Goal (SDG) 13, focusing on climate change mitigation….