CleanMax signs PPA with BIAL for captive RE plant; AGEL to issue $409 million bonds; JSW Neo gets LOA for 700 MW solar from SJVN Limited; Navitas Solar launches bifacial TOPCon modules.
Solar & wind power for Bengaluru: The Bangalore International Airport Limited (BIAL) has entered into a power purchase agreement (PPA) with CleanMax Enviro Energy Solutions for a captive solar and wind power plant. The project with 36 MW solar and 9.9 MW wind energy will be located within the Jagaluru Wind-Solar Farm in Karnataka with 290 MW capacity. To be owned and operated by CleanMax, it will supply power to the Kempegowda International Airport, Bengaluru. The duo has established a special purpose vehicle called Clean Max BIAL Renewable Energy Private Limited. The airport will source around 58.3 kWh of solar and 31 kWh of wind power annually, using existing grid infrastructure. The airport already operates on 100% renewable energy, according to the airport authorities; the new PPA with CleanMax will help it sustain clean energy use with its expansion.
AGEL to offer bonds: Adani Green Energy Limited (AGEL) says it plans to offer $409 million senior secured notes with 18 years door-to-door tenor. It will have 12.7 years weighted average life, subject to market conditions. The company plans to use the gross proceeds to redeem the $500 million 6.25% senior secured notes due 2024. Gross proceeds will refinance its green projects. These were originally issued in June 2019, according to the company's stock exchange filing.
700 MW for JSW: JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, has received a letter of award (LOA) for 700 MW solar PV capacity from SJVN Limited. It needs to be grid-connected with the inter-state transmission system (ISTS). JSW says its total locked-in capacity has now increased to 11 GW, comprising 1.4 GW solar energy, while the remaining spans wind, thermal and hydro power. It aims to have 9.8 GW of operational generation capacity by CY2024, up from the current operational capacity of 7.2 GW. By 2030, it targets to reach 20 GW generation capacity and 40 GWh of energy storage capacity.
New TOPCon modules: Indian solar module manufacturer Navitas Solar has launched its next generation n-type TOPCon modules at the recently concluded The smarter E India-Intersolar India 2024. These bifacial modules offer a power output of 560 W to 630 W and efficiency of over 22%. Based on the 182 mm (M10) cell structure, these use 16 BB and half-cut cell configuration. The company is offering 560 W to 580 W panels with dimensions of 2,278 mm x 1,134 mm x 30 mm, while panels with 590 W to 630 W output are available with dimensions of 2,466 mm x 1,134 mm x 30 mm. The company has a total installed annual module manufacturing capacity of 2 GW. It also manufactures encapsulants and backsheets. In August 2023, it announced a partnership with Colby Solar to launch 10 GW solar panel manufacturing in the US (see Indian Module Maker Expanding To The US).