India’s power market design must evolve as renewables’ share rises, says IEEFA
A new report by IEEFA says India’s power market design must evolve to transition faster to an ultra-low-cost renewable energy-based electricity system.
Norfund, KLP to buy 49% in Enel’s 420 MW solar project
The Norwegian Climate Investment Fund, managed by Norfund, and KLP, Norway’s largest pension company, have signed a deal to raise a 49% stake in a 420 MW solar power plant in India developed by Italy’s Enel Green Power.
Bhutan issues tender for 17.3 MW solar park
Bhutan aims to facilitate the construction of its first PV project through a new tender.
ReNew secures $1 billion loan for 1.3 GW renewables project
ReNew Power, a Nasdaq-listed Indian developer, has secured $1 billion in external commercial borrowings for a 1.3 GW wind-solar energy project, backed by up to 100 MWh of battery storage. The project is co-owned by Japanese investor Mitsui and will supply round-the-clock power under a 25-year power purchase agreement.
Amended Energy Conservation Bill to drive renewables adoption
The amended Energy Conservation Bill sets a minimum usage clause for non-fossil fuel by high carbon-emitting sectors such as power, transport, industry, and buildings. It also includes provisions to incentivize decarbonization efforts by allowing carbon trading.
NTPC’s 56 MW Kawas solar project now fully operational
NTPC has switched on its third solar project this month, following the completion of the 296 MW Fatehgarh and 250 MW Kolyat PV parks in Rajasthan.
Greenko to develop 400 MW of wind, solar for Hindalco’s aluminum smelter
Renewables major Greenko will develop 375 MW to 400 MW of solar and wind capacity to power Hindalco’s aluminum smeltering operations in Odisha. It will back the renewables generation with hydro pump storage capacity in Andhra Pradesh to ensure 100 MW of round-the-clock supply to Hindalco.
Rays Power Infra switches on 150 MW solar plant in Karnataka
Rajasthan-headquartered Rays Power Infra has commissioned a 150 MW (DC) solar plant in Raichur and Koppal, Karnataka.
Study finds 100% renewables would pay off within 6 years
New research from Stanford University researcher Mark Jacobson outlines how 145 countries could meet 100% of their business-as-usual energy needs with wind, water, solar and energy storage. The study finds that in all the countries considered, lower-cost energy and other benefits mean the required investment for transition is paid off within six years. The study also estimates that worldwide, such a transition would create 28 million more jobs than it lost.
Shell completes acquisition of Sprng Energy
Shell has completed the $1.55 billion acquisition of Solenergi Power, an Actis company holding 100% of Indian renewables developer Sprng Energy.
