600 MW PPA for Azure Power: Azure Power has signed power purchase agreements (PPA) for 600 MW of interstate transmission system (ISTS) connected solar power projects under the 4 GW manufacturing linked projects it won from the Solar Energy Corporation of India (SECI). This capacity will be built in Rajasthan on land that the company says is fully identified and under acquisition. Projects need to be commissioned in Q3 FY 2024 and supply power to SECI for 25 years at a fixed tariff of INR 2.54 ($0.034) per kWh. This 600 MW is the initial tranche for which the company has secured PPA, out of 2 GW it won initially followed by another 2 GW under greenshoe option (see 2 GW Greenshoe Option LOA For Azure Power).
500 MW floating PV for NHPC & GEDCOL: The NHPC Limited says its proposal to form a joint venture (JV) company with the Green Energy Development Corporation of Odisha Limited (GEDCOL) to implement 500 MW floating solar power capacity, has received an approval from the company's board. NHPC will now invest an initial equity of INR 74 million ($1 million) in the JV company in which it will hold 74% stake. GEDCOL will hold remaining 26% share. This 500 MW capacity is to be developed on reservoirs in Odisha as the duo had previously announced (see 500 MW Floating Solar Partnership In India).
New RE subsidiary for SJVN: SJVN Limited has secured approval from its board to form a wholly owned subsidiary for the development of renewable energy, small hydro and green hydrogen projects. Among renewables, the subsidiary will focus on power generation from solar parks, wind projects, hybrid projects including battery energy storage system (BESS), wave, biomass, and small hydro. The company plans to invest an initial equity of INR 500 million ($6.74 million) in the subsidiary once the proposal is cleared by the Indian government's think tank NITI Aayog, Department of Investment and Public Asset Management, Ministry of Finance, and the Government of India.
EPC tender for 5 MW AC solar by SECI: SECI has launched a tender inviting solar EPC companies to establish a 5 MW AC grid connected solar power plant at V.O. Chidambaranar Port Trust in Tuticorin, Tamil Nadu. The broad task also comprises 10 years operation and maintenance (O&M) post commissioning. Tender documents will be available on SECI's website with NIT No. SECI/C&P/NIT/2021/VOCPT5 within 4 weeks of publication of the notice that appeared on SECI website on November 17, 2021.
5.28 GW worth of RE PSAs signed by SECI: SECI says it signed 5.28 GW worth of renewable energy power sale agreements (PSA) during the current financial year (FY 2021-22) till October 31, 2021. With this, the agency says its cumulative PSA signed capacity has gone up to over 30 GW, reflecting an annual increase of about 95%. All this PSA signed capacity is expected to supply up to 19 billion units of renewable energy to 8 states and union territories for 25 years.
NTPC and Indian Oil sign MoU for RE: NTPC Ltd. and Indian Oil have announced a memorandum of understanding (MoU) to collaborate in the field of renewable energy. The 2 partners will also explore opportunities to supply lower carbon/renewable energy captive power on round-the-clock (RTC) basis. Indian Oil said it intends to use green energy to power new projects and refinery expansions. NTPC stated that both the companies will generate and store renewable energy or other forms of energy, including gas-based power, primarily to cater Indian Oil refineries or other installations.
Coal & lignite companies to add 5.56 GW RE: By 2030, coal and lignite companies have committed to install an additional 5.56 GW of renewable energy capacity for over INR 150 billion ($2.02 billion), which will take their total installed capacity to 7 GW, announced the Ministry of Coal. It said Coal India Limited (CIL) alone plans to install 3 GW of solar power in the next 5 years to achieve its net zero target.