Alpex Solar expanding module production capacity to 2 GW; Radiance bags green loan for 150 MW AC; Statkraft & DPA sign green hydrogen MoU; Mercom shares results of SJVN & NHPC auctions; UPCL turns offtaker for 200 MW from SJVN solar project.
Alpex Solar's expansion plans: Indian solar module manufacturer Alpex Solar Limited has announced plans to expand its annual production capacity from 450 MW now to 2 GW by 2026. The expansion will take place at the same location in Greater Noida. It expects annual operational revenues to reach INR 400 crore ($48 million) in FY 2024, and exceed INR 1,000 crore ($120 million) in FY 2026. During H1/FY 2024, it reported revenues of INR 207 crore ($25 million). It says the company has been supplying its white-label solar panels to its Indian clients while exporting the same to the US, Italy, Australia, Spain, Nepal, and Germany as well.
Green loan for 150 MW AC Solar: Eversource Capital managed Radiance Renewables Private Limited has raised a $90 million green loan for a 150 MW AC solar power plant in Maharashtra. The green commercial and industrial (C&I) project is contracted under a 25-year energy supply agreement with a data center company. The company says it secured the loan jointly arranged by Axis Bank and Standard Chartered Bank.
Statkraft's green hydrogen plans: Statkraft has signed a memorandum of understanding (MoU) with India's Deendayal Port Authority (DPA) to explore green hydrogen production opportunities at Kandla Port in Gujarat. Local media referred to a company statement to state that under the non-binding MoU, the 2 partners will identify and evaluate suitable locations for the development of green hydrogen. DPA is in charge of operating the Kandla port. Recently the DPA also signed an MoU with Jakson Green to set up a green ammonia facility with an annual capacity of around 133,000 tonnes.
SJVN's 1.5 GW solar capacity auctioned: SJVN Limited's 1.5 GW renewable energy with energy storage tender with inter-state transmission system (ISTS) connectivity has found its winners for 1.18 GW. According to Mercom India Research, ACME Cleantech Solutions, Juniper Green Energy and Tata Power Renewable Energy won 250 MW, 200 MW and 200 MW, respectively, for the winning tariff of INR 4.38 ($0.0526)/kWh. ReNew Solar Power won 184 MW, Blupine's Solarcraft Power India 150 MW, Hero Solar Energy 120 MW and O2 Power's TEQ Green Power XVI 80 MW, all for the same tariff of INR 4.39 ($0.0527)/kWh.
NHPC's 3 GW capacity auctioned: NHPC Limited's 3 GW ISTS connected solar PV tender had Engie's Solairedirect Energy India winning 250 MW for INR 2.52 ($0.0303)/kWh. For the winning tariff of INR 2.53 ($0.0304)/kWh, Avaada Energy won 1 GW, Mahindra's Hazel Hybren 300 MW, Jakson 400 MW, Sprng Energy 250 MW, Sembcorp's Green Infra Wind Energy 300 MW, Apraava Energy 250 MW and Hinduja Renewables Energy 250 MW. The tender was floated in June 2023.
LOI for 200 MW solar project: SJVN has received a letter of intent (LOI) from the Uttarakhand Power Corporation Limited (UPCL) for 200 MW from 1 GW solar power plant in Bikaner, Rajasthan. SJVN said the power will be sold to UPCL for INR 2.57 ($0.031)/kWh from the project that's being developed through its subsidiary SJVN Green Energy Limited (SGEL). The project is scheduled to come online by June 2024.