CleanMax has switched on a 400 MW hybrid wind-solar project in Gujarat; NTPC REL secures LOA for 550 MW solar plant; Clix Capital bags INR 1.64 billion from GCPF; Rays Power to build 283 MW solar project for Serentica Renewables; Juniper Green Energy's renewable energy portfolio now exceeds 1.2 GW.
400 MW hybrid RE project online: CleanMax Enviro Energy Solutions, a renewable energy company with a focus on Asia, has commissioned what it terms as the largest wind-solar hybrid farm for commercial and industrial (C&I) segment, with 400 MW capacity in India. The Babra, Gujarat located project is spread across 800 acres of unutilized commercial parcels of available land.
NTPC's 550 MW solar win: NTPC Renewable Energy Limited (NTPC REL) has won a letter of award (LOA) for a 550 MW solar project from REC Power Development and Consultancy Limited (RECPDCL) as part of the latter's 1.25 GW Inter-State Transmission System (ISTS)-connected auction. It won the project for the winning tariff of INR 2.56 ($ 0.031)/kWh. The company said it will now have to execute over 2 GW of renewable energy capacity to fulfill the capacity it has won under tariff-based competitive bidding (TBCB) in Q1/2023 alone. NTPC Group now counts its total renewable energy capacity to have grown to 3.3 GW, with another 6 GW under various stages of implementation and 12 GW under tendering, including 4 GW Energy Storage System and a major hydrogen-based energy storage cum microgrid system.
NBFC raises INR 12 billion for solar: Non-banking financial company (NBFC) Clix Capital of India has raised INR 12 billion ($146 million) as debt funding, out of which INR 1.64 billion ($20 million) is contributed by the Global Climate Partnership Fund (GCPF). It plans to use the GCPF funding to support projects focused on sustainability and climate change including micro, small and medium enterprises (MSME) involved in the business of solar manufacturing, as per local media reports.
Rays Power bags 283 MW solar project: Solar power company Rays Power Infra has secured an EPC contract with Serentica Renewables to build a 283 MW solar PV plant, according to local media reports. Without sharing any more details about the project, Rays said it is also working on the company's maiden battery energy storage system (BESS) and floating PV system projects. In July 2023, Serentica announced plans to develop 4 GW wind and solar capacity, and round-the-clock (RTC) power delivery agreements for over 1.25 GW capacity with multiple industrial customers (see Big Win For KKR's India Joint Venture).
Juniper expands renewables capacity: Independent power producer (IPP) Juniper Green Energy says its total renewable energy capacity portfolio now exceeds 1.2 GW. This includes power purchase agreements (PPA) and LOAs secured by the company over the last few months. Among these are a 105 MW solar project of MSEDCL for an average tariff of INR 3.00 ($0.037)/kWh. Juniper said it has also started constructing its 1st ISTS-connected solar power project with 140 MW capacity to be grid– connected for C&I supply.