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NHPC-APGENCO to set up JV for 1.8 GW Pumped Storage Projects
NHPC and Andhra Pradesh Power Generation Corporation (APGENCO) have formed a joint venture to develop pumped hydro storage (PSP) projects and renewable energy initiatives. The venture will progress in phases to allow for future project identification and implementation. The first phase will focus on two PSPs: Yaganti PSP with a capacity of 1,000 MW and Rajupalem PSP with 800 MW. The JV will be equally owned by NHPC and APGENCO, starting with an initial paid-up…
Maharashtra approves Rs 9.7 billion for conversion of MSRTC buses to LNG
The Maharashtra government has approved a Rs 9.7 billion plan to convert 5,000 diesel-run Maharashtra State Road Transport Corporation (MSRTC) buses to Liquified Natural Gas (LNG) as part of its green transport initiative. According to the government resolution, the allocated funds will be distributed over four years: Rs 400 million for 2024-25, Rs 2 billion for 2025-26, Rs 3.7 billion for 2026-27, and Rs 3.6 billion for 2027-28. The MSRTC board of directors had previously…
MNRE increases ALMM solar module capacity by 2 GW
The Ministry of New and Renewable Energy (MNRE) has increased the solar module capacity on the Approved List of Models and Manufacturers (ALMM) by 2,084 MW, bringing the total to 56.5 GW. New entrants include Junna Solar System (94 MW), Sun N Sand Exim (69 MW), and Powertrac Solar Projects (47 MW). Waaree Energies, RenewSys India, and Goldi Solar expanded their capacities by 1,144 MW, 495 MW, and 235 MW, respectively. Sunbond Energy, with a…
Bangladesh’s electricity demand rises 7% during protests despite economic disruptions
Despite nationwide protests disrupting economic activities, Bangladesh’s electricity demand grew 7% over three weeks, reaching an average of 316 million kWh per day. This increase, driven mainly by household air-conditioning use amid extreme heat, occurred even as most industrial and commercial activities came to a halt. The rise in residential power consumption highlights a shift in Bangladesh’s energy landscape, where household demand now surpasses industrial use. This trend has pushed Bangladesh to boost imports of…
Avantus, Toyota Tsusho America begin construction of Norton Solar Project in Texas
Avantus and Toyota Tsusho America (TAI) have started constructing the 159 MWdc/125 MWac Norton solar project in Runnels County, Texas. The construction follows TAI’s acquisition of the Norton project from Avantus in November 2023. TAI, a subsidiary of Toyota Tsusho Corporation, has secured financing from Mitsubishi UFJ Financial Group. The Norton project, managed by Avantus with engineering, procurement, and construction services provided by RES, has a long-term power purchase agreement with a corporate customer, highlighting…
Matrix Energia issues Brazil’s first green bond for battery energy storage
Brazilian electricity company Matrix Energia has completed the country’s first green debenture issuance worth 100 million Brazilian reais ($17.9 million) to fund the construction of 224 MWh of battery energy storage capacity by 2025. This marks the first green issuance for a battery energy storage system (BESS) in Brazil and the second green issuance for a renewable project by Matrix Energia. Led by Caixa Econômica Federal, the six-year issuance was raised by Matrix Energia’s subsidiary,…