At the ongoing Vibrant Gujarat Global Summit, Tata Group and Adani have announced plans to invest in lithium ion battery manufacturing in Gujarat. Chromeni Steels, a joint venture company of China’s Tsingshan Industries, will invest US$ 3 billion to manufacture stainless steel and electric vehicle (EV) batteries.
The test facility, to be set up by the Maxop Research and Testing Institute, will be capable of testing solar water pumping systems and other solar products in compliance with Bureau of Indian Standards guidelines and international standards.
At the Vibrant Gujarat Global Summit, HyET Solar will sign a memorandum of understanding with the state to set up a solar module manufacturing facility.
The project would be awarded based on international competitive bidding followed by reverse auction. The deadline for bid submission is February 25. The bids will opened on February 26, while the date of reverse auction will be intimated at a later date.
The state has ordered 200 MW of PV across each of 16 zones this year and next, and said all government buildings, water and irrigation projects will host solar arrays.
The procurement will be worth an estimated Rs16,000 crore, and will stipulate the use of 1.2 GW of Indian-made equipment. The power generated will replace 4 GW of coal-fired electricity consumption used by the railways.
India has set exceptionally ambitious renewable energy targets including 175 gigawatts (GW) of renewables by 2022, 275GW by 2027, and to achieve 40% of electric power installed capacity from non-fossil fuels by 2030. India seeks to tender another 80GW of renewables in total over the coming two years.
The nation still managed to attract around $11.1 billion for renewable energy in 2018, to be the world’s fifth most attractive destination for funds, according to new figures compiled by BloombergNEF.
SECI has issued a 1.2 GW solar tender for ISTS-connected projects with an upper tariff ceiling of Rs 2.65 ($0.038)/kWh.
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