Wind-Solar Hybrid

NTPC Renewable Energy, Green Infra Wind Energy, and Juniper Green Energy have emerged winners in SECI’s 2 GW wind-solar hybrid tender. The three developers have been allocated a cumulative 900 MW capacity at an average price of INR 3.19 ($0.038)/kWh.

Juniper Green Energy has signed an agreement with the state government of Gujarat to establish 1 GW of wind and solar projects in Gujarat with an investment of INR 8,000 crore ($961.75 million).

Advait Infratech will invest in the manufacturing and assembly of fuel cells and electrolyzers in Gujarat. Waaree will set up a green hydrogen/green ammonia production facility along with hybrid (solar, wind) renewable energy generation.

Torrent Power will invest INR 47,350 crore (around $5.7 billion) in green hydrogen and green ammonia production, solar and hybrid power generation, and power distribution in Gujarat.

Adani Green Energy Ltd has sold half the stake in its 1,050 MW of renewable energy projects to TotalEnergies, raising $300 million to support the development of these assets. The projects are now owned by a joint venture between the two companies.

Serentica Renewables has deployed the first set of solar PV modules and wind turbines under its project to deliver 1.5 GW of round-the-clock renewable power to industrial consumers.

Ambuja Cements Ltd, part of the diversified Adani Group, plans investment in 750 MW of new renewable power generation capacity in Gujarat (600 MW solar and 150 MW wind) and a 250 MW solar power project in Rajasthan as it pursues cost reduction and environment sustainability across its cement manufacturing operations. The company will fund these projects through internal accruals.

Sterling and Wilson Renewable Energy’s INR 1,500 crore ($180 million) qualified institutions placement issue received an overwhelming response from both domestic mutual funds and marquee global foreign institutional investors.

NTPC has also invited bids to supply 1.5 GW of renewable power from wind-solar hybrid power projects. The projects can be developed anywhere in India

Adani Green Energy Ltd (AGEL) has secured a $1.36 billion debt facility from eight international banks in one of the largest project finance deals in Asia. It will use the funding to develop the world’s largest renewable energy park at Khavda in Gujarat.