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Finance

Rays Power signs MoU for INR 500-crore solar investment in Rajasthan

Director Nidhi Gupta told pv magazine that the company had signed the agreement to invest INR 500 crore (US$67.2 million) in building a 120 MW solar park in the Bikaner district of the State. The solar park will provide plug-and-play infrastructure for captive solar projects.

PLI Scheme for battery cell manufacturing receives bids for 130 GWh of capacity

The production-linked incentives scheme for advance-chemistry battery cell manufacturing received an encouraging response with bids received for 2.6 times the 50 GWh manufacturing capacity to be awarded.

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Reliance Industries commits over US$75 billion for green energy projects in Gujarat

The Mukesh Ambani-led diversified business conglomerate has agreed to invest INR 5 lakh crore (US$67.6 billion) in building 100 GW of renewable energy capacity and green hydrogen eco-system in the State. It will also invest INR 60,000 crore (US$8.1 billion) in setting up manufacturing facilities for new and renewable energy equipment including solar modules, electrolyzers, energy-storage batteries, and fuel cells.

PowerGrid to develop Africa’s first ‘PPP mode’ transmission project in Kenya

The Indian state-owned electric transmission utility company has signed an agreement with infrastructure investor
Africa50 to develop 400kV and 220kV transmission lines in east African country Kenya under a public-private partnership framework.

Green mobility: IREDA launches scheme to finance battery storage, green hydrogen and fuel cell technologies

The State-controlled renewable energy and energy efficiency lender has launched a scheme to finance new and emerging technologies that promote and increase the usage of renewable energy in the transport sector. 

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Asia Pacific solar supply chain trouble to ease this year, according to analyst

Wood Mackenzie has predicted solar equipment cost increases will ease back after last year saw the average cost of solar electricity rise for the first time in the Asia-Pacific region.

LG Energy Solution IPO attracts $80bn in bids

LG Chem’s energy storage and battery division’s $10.7 billion initial public offering received a staggering response from institutional investors, Reuters has reported.

Daily news wrap: Waaree Energies gets SEBI nod for IPO, Jharkhand starts getting 200 MW solar power from Gujarat

Solar manufacturer Waaree Energies had filed its draft red herring prospectus (DRHP) with Sebi in September last year. Jharkhand has started getting 200 MW of solar power from Gujarat at a price of INR 2.5/kWh under a 25-year PPA with SECI.

Daily news roundup: Mecwin and KVG Bank partner on solar pump finance, Adani’s new energy arm

Bengaluru-based Mecwin Technologies Ltd and Karnataka Vikas Grameena Bank (KVGB) have partnered to finance solar pump-sets for farmers. Adani has formed a new energy arm called Adani New Industries Limited (ANIL).

India may add 12.5GW of solar in 2022-23

Ratings agency ICRA expects the solar boost based on the backlog of PV projects awarded by central and state electric utilities.

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