Utility Scale PV

Adani Green Energy Ltd has concluded funding of the entire $750 million Holdco Bond redemption with the receipt of $281 million through promoter preferential allotment. Other sources of funds include $300 million from TotalEnergies JV proceeds and $169 million from debt service reserve account, hedge reserves, and interest on reserve account.

SJVN has secured a 100 MW solar power project from Gujarat Urja Vikas Nigam Ltd (GUVNL). It will develop the project on a build-own-operate basis in Gujarat and sell the generated power to GUVNL under a 25-year power purchase agreement.

Researchers have found that the current levelized cost of energy (LCOE) for concentrated solar power (CPS) plant in Saudi Arabia could be as low as $0.137/kWh. However, combining the tech with PV would significantly enhance the cost competitiveness of CSP.

REC Ltd has signed a Memorandum of Understanding (MoU) with the National Investment and Infrastructure Fund Ltd to collaborate on funding solutions for renewable energy projects.

The Asian Infrastructure Investment Bank (AIIB) has invested around $58.4 million in a renewable energy Infrastructure Investment Trust (InvIT) co-sponsored by Mahindra Susten and Ontario Teachers’ Pension Plan. The InvIT holds around 1.54 GWp of operational solar power assets seeded by Mahindra Susten.

Ratings agency ICRA has maintained a stable outlook for the renewable energy sector in India on the back of strong policy support, healthy demand prospects, superior tariff competitiveness among other positive factors.

Scientists conducting a five-year research project in southern Minnesota have observed a tripling of insect numbers near two solar facilities built on rehabilitated agricultural land. They say the findings show how habitat-friendly solar could help protect insect populations and improve pollination in nearby agricultural fields.

Wood Mackenzie says the solar industry has reached a new stage in its evolution and is predicting around 350 GW of global solar installations annually for the next eight years. The research firm is also forecasting challenges for the solar manufacturing sector and long-awaited benefits from the Inflation Reduction Act in the United States.

India’s Ministry of Heavy Industries has invited global bids to set up a cumulative 10 GWh of giga-scale advanced chemistry cell (ACC) manufacturing facilities under production-linked incentives scheme. Bidding closes on April 22 and bids will be opened on April 23, 2024.

Solar and waste-to-energy producer SAEL has secured $1 billion from financial institutions including Norfund, DFC, Asian Development Bank (ADB), and Tata Cleantech.