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Philippines launches $3.4 billion MTerra solar project

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The Government of the Philippines has initiated the MTerra Solar Project in Nueva Ecija and Bulacan, with an investment of $3.4 billion.  The project aims to generate 4,500 MWh of energy, supplying electricity to approximately 2.4 million homes by 2027.  This initiative is a collaboration between Terra Solar Philippines, Meralco PowerGen Corporation (MGEN), and SP New Energy Corporation (SPNEC).  It is expected to reduce carbon emissions by over 4.3 million tonnes annually, equivalent to removing…

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Insolation Green Energy inks Rs 100 billion MoU with Rajasthan government

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Insolation Green Energy Private Limited, a subsidiary of Insolation Energy Limited, has signed a memorandum of understanding (MoU) with the Rajasthan government during the Rising Rajasthan Global Investment Summit 2024. The agreement involves an investment of Rs 100 billion for solar power generation projects, manufacturing facilities for solar components, engineering, procurement, and construction (EPC) projects, and the development of solar parks in Rajasthan.

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Adani Green Energy establishes new subsidiary for renewable energy projects

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Adani Green Energy Limited (AGEL) has established a new wholly-owned subsidiary, Adani Hydro Energy Five Limited (AHE5L), through its subsidiary Adani Saur Urja (KA) Limited.  Incorporated on November 26, 2024, AHE5L is registered in Ahmedabad, Gujarat, with an authorized and paid-up capital of Rs 100,000. AHE5L will generate, develop, transform, distribute, transmit, sell, and supply power through renewable energy sources, including wind and solar. 

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Saudi Arabia signs $9.3bn PPAs for 9.2GW power projects

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The Saudi Power Procurement Company (SPPC) has signed power purchase agreements (PPAs) for five independent power producer (IPP) projects, totalling 9.2GW in capacity, as reported by Zawya. The projects include thermal and solar photovoltaic (PV) power initiatives, with a combined investment of 35 billion Saudi riyals ($9.3 billion), supporting Saudi Vision 2030 goals for a balanced energy mix. The thermal projects, Rumah 1 and 2 and Nairyah 1 and 2, will utilize combined cycle gas…

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Tata Power to invest Rs 5.5 billion in renewable energy for Noida Airport

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Tata Power has committed Rs 5.5 billion towards establishing solar and wind power capacities to supply clean energy to Noida International Airport (NIA) in Uttar Pradesh.  The company has signed two power purchase agreements with NIA, supporting the airport’s sustainable energy infrastructure. Through its subsidiary, Tata Power Trading Company (TPTCL), Tata Power will provide 10.8 MW of wind energy, while Tata Power Renewable Energy (TPREL) will develop, operate, and maintain a 13 MW onsite solar…

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Waaree Energies secures 180 MWp solar module supply order

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Waaree Energies has secured an order to supply up to 180 MWp of solar modules to a prominent renewable energy developer in India.  Deliveries are set to begin at the end of November 2024 and conclude by the fourth quarter of fiscal year 2025.  This contract underscores Waaree’s role in advancing India’s renewable energy infrastructure.

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Primergy Solar secures $225 million for Valley of Fire renewable projects

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Primergy Solar has secured $225 million in project financing for its Valley of Fire (VoF) renewable energy portfolio across Nevada, Colorado, and Arizona.  This financing includes a $125 million tax credit sale for the Gemini Solar + Storage project and a $100 million revolving credit facility from Rabobank to support additional VoF developments. The VoF portfolio comprises the recently commissioned Gemini Solar + Storage project and five other ventures, collectively offering 2.65 GW of solar…

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ACWA Power secures $240 million IFC loan for Uzbekistan’s RE projects

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ACWA Power has obtained a $240 million Islamic Equity Bridge Loan (EBL) from the International Finance Corporation (IFC) to support renewable energy initiatives in Uzbekistan.  The financing will facilitate the construction and operation of two projects: a 1 GW solar photovoltaic plant and a 668 MW battery energy storage system (BESS), along with approximately 500 km of high-voltage transmission lines.  These projects aim to reduce Uzbekistan’s greenhouse gas emissions by an estimated 1.3 million tonnes…

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SBEC Systems commissions 632 KWp solar power project in Uttar Pradesh

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SBEC Systems (India) has commissioned a 632 KWp solar power project at G S Pharmbutor’s Nutrition Division, located within the Modi Steel Compound in Modinagar, Uttar Pradesh. The project became operational on November 5, 2024. This initiative aligns with SBEC Systems’ focus on engineering and consultancy services across various industries, emphasizing their commitment to advancing renewable energy solutions.

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Gensol Engineering secures Rs 7.8 billion solar EPC order in Maharashtra

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Gensol Engineering Limited has won a Rs 7.8 billion turnkey engineering, procurement, and construction (EPC) contract from a major public sector utility in Maharashtra for a 150 MW ground-mounted solar PV plant.  The project, slated for completion within 15 months, covers land acquisition, design, engineering, procurement, manufacturing, installation, testing, and commissioning, alongside infrastructure development to connect to the STU substation.  The contract also includes three years of operation and maintenance for the plant, covering switchyard…