200 MW rooftop solar plan for Jammu; NLC planning 1 GW solar in Assam; Ayana signs EOI for 2 GW RE in Karnataka; Rooftop solar company SolarSquare raises $4 million; GUVNL 500 MW phase XIV auction results.
Rooftop solar scheme of J&K: Under the federal government's Solar City Mission, the Administrative Council has approved the installation of 200 MW of grid tied rooftop solar power capacity in the Union Territory of Jammu in Jammu & Kashmir (J&K). It will be installed on 50,000 residential buildings in the city by Jammu and Kashmir Energy Development Agency (JAKEDA). Entire capacity is aimed to come online by March 2024 with a lifetime of 25 years, according to local media reports. Systems installed under net metering are likely generate around 280 million units annually, helping the region save on inter-state transmission losses to the tune of 224 million units. It will also enable job creation for locals.
1 GW solar partnership for Assam: Assam Chief Minister Himanta Biswa Sarma has announced his government will set up a joint venture (JV) with NLC India Ltd to establish a solar power plant in the state with more than 1 GW capacity. The memorandum of understanding (MoU) is to be signed, he said, for the project to be built on government land. Sarma was quoted by local media as stating that this will be 1st such initiative among public sector undertakings (PSU) in the energy sector. It will be located in Dima Hasao region and cost an investment worth INR 50 billion. In a Bombay Stock Exchange (BSE) filing, NLC said the company and the state government are currently examining the pros and cons of setting up solar power projects in Assam and that the same are at a preliminary stage. Recently O2 Power commissioned a 70 MW solar power plant in the state (see India PV News Snippets).
Ayana to build 2 GW RE in Karnataka: Ayana Renewable Power Private Limited has signed an expression of interest (EOI) with the State Government of Karnataka to build 2 GW wind and solar power capacity here for an investment worth INR 120 billion. It will provide clean energy for close to 2 million households. Backed by the National Investment and Infrastructure Fund (NIIF) and British International Investment (BII), Ayana aims to develop 10 GW AC capacity by 2025 through 'government wide acquisition contracts', according to local media.
$4 million for SolarSquare: Mumbai based modular and prefabricated rooftop solar systems company SolarSquare has raised $4 million seed funding from a number of investors led by US based Lowercarbon Capital, Singapore based Symphony Asia and Nithin Kamath's Rainmatter. According to a news report by Yourstory.com, SolarSquare designs, installs and finances residential rooftop solar systems. So far it has solarized over 3,000 homes and housing societies. It plans to deploy the proceeds to expand its presence across India and to build technology to scale up.
GUVNL's 500 MW tranche XIV solar auction results: The Gujarat Urja Vikas Nigam Limited's (GUVNL) 500 MW phase XIV solar auction has attracted INR 2.30 per kWh as the lowest winning bid. It was offered by Aditya Birla and Hinduja Renewable Energy as they won 300 MW and 120 MW, respectively. According to Mercom India Research, SJVN was awarded 80 MW out of 200 MW it quoted for INR 2.31 per kWh. The tender was launched in April 2022 with GUVNL also offering an additional 500 MW under greenshoe option (see GUVNL Launches 500 MW Solar Tender).