Financing for MSMEs for rooftop solar: Tata Power has announced a partnership with the Small Industries Development Bank of India (SIDBI) to offer easy and affordable financing for micro, small and medium enterprises (MSME) to adopt clean energy through rooftop solar for both off-grid and on-grid connections. They will offer a 'unique' solar financing solution for these customers without any collateral at an interest rate less than 10%. The loans will be expedited as the partnership targets quick sanction within 7 days and loan disbursement within 4 days.
ITC to go 100% renewable by 2030: One of the largest diversified business conglomerates in India, ITC Limited has pledged to source 100% of its grid purchased electricity from renewable energy sources by 2030, growing the share of clean energy sources to its electricity supply from the current 40% being met through sources like solar, wind and biomass. Its current renewables portfolio comprises 138 MW of wind and 14 MW of solar power plants with another 53 MW of PV capacity yet to come up, reported local media referring to a company statement.
Court stay on AP's 6.4 GW solar auction: The High Court of Andhra Pradesh has directed the Andhra Pradesh Green Energy Corporation (APGECL) to not go ahead with any agreements for its 6.4 GW solar power projects responding to an appeal filed by Tata Power Renewable Energy, according to Mercom India Research (see Andhra Pradesh Launches Tender For 6.4 GW Solar). Tata Power had complained of the request for selection (RfS) and power purchase agreements (PPA) for this capacity to be against the provinces of the Electricity Act, as well as the guidelines of the Ministry of Power and Ministry of New and Renewable Energy (MNRE). Next hearing is scheduled for February 15, 2021.
1 MW solar carport by Total Solar DG: Total Solar Distributed Generation (DG) has announced completion of a 1 MW solar PV system at Renault Nissan Automotive India's car manufacturing plant in Chennai. The installation covering the carport structure, covers an area of 9,000 sq. mtr. and is expected to generate 2.1 GWh of clean energy annually. Total Solar DG will operate the project over the next 20 years under the agreement with Renault Nissan.
50 MW solar PV tender launched: The Solar Energy Corporation of India Limited (SECI) has invited bids for a 50 MW AC solar PV project in Tamil Nadu. It will come up as 40 MW ground based PV capacity and 10 MW of agro PV. Winners will need to provide 10 years of operation and maintenance work. Last date to submit bids for this tender is March 1, 2021, according to bidding document.