India PV News Snippets: AC Energy, REIL, ReNew

Financial Closure For UPC-AC Energy’s 100 MW Rajasthan Project From USDFC; REIL Seeking Multicrystalline Silicon Solar Cells; ReNew Power Gets Global Lighthouse Network Recognition By World Economic Forum

India PV News Snippets: AC Energy, REIL, ReNew

AC Energy’s joint venture with UPC Solar has raised financing for the 100 MW Sitara Solar Farm it is currently constructing in Rajasthan. It plans to bring it online in H1/2021. (Photo Credit: AC Energy, Inc.)

100 MW project achieves financial closure: AC Energy and Infrastructure Corporation has announced reaching financial closure for 100 MW AC/140 MW DC Sitara Solar Farm it is currently constructing in Rajasthan. The project is expected to come online by H1/2021, for $67 million. Financing was raised from the US International Development Finance Corporation with a 20-year period. While it did not specify the proceeds it received from the US agency, AC Energy said the project will be funded through a 75:25 debt-to-equity financing scheme. It is constructing the project through UPC-AC Energy Solar, a joint venture between UPC Solar and AC Energy. It won the project in March 2019 under a competitive bidding round for the winning bid of INR 2.48 per kWh for 25 years (see AC Energy To Invest In 100 MW AC Indian Solar Park).

REIL issues tenders for solar cells: The Rajasthan Electronics & Instruments Limited (REIL) has issued 2 separate tenders to procure solar cells. One of the tenders is for 150,000 multicrystalline silicon solar cells with 4.5W output each. These cells should have 156mm x 156mm wafer size, and 4 or 5 busbars, along with PECVD silicon nitride of deep blue color as the anti-reflection coating. Last date to submit bids for this one is March 20, 2021.

The other REIL tender is to source 140,000 multicrystalline silicon solar cells with 4.67W each. These also need to have 156mm x 156mm wafer size, but with 5 busbars. Last date for bid submission is March 18, 2021. Both these tenders specify that cells must be produced locally. Details of both the tenders are available on REIL’s website.

ReNew Power gets WEF honor: The World Economic Forum (WEF) has recognized ReNew Power as the world’s 1st clean energy company to its Global Lighthouse Network, the company announced. It added that the WEF’s recognition attributed ReNew Power’s investments in digital analytics and machine learning at its Hubli facility to increase power output of its solar and wind energy assets while reducing downtime without capital expenditure, for the recognition. The network recognized companies using new technologies to achieve environmentally sustainable, community supportive and profitable growth, it added.

About The Author

Anu Bhambhani

SENIOR NEWS EDITOR Anu is our solar news whirlwind. At TaiyangNews, she covers everything that is of importance in the world of solar power. In the past 9 years that she has been associated with TaiyangNews, she has covered over thousands of stories, and analysis pieces on markets, technology, financials, and more on a daily basis. She also hosts TaiyangNews Conferences and Webinars. Prior to joining TaiyangNews, Anu reported on sustainability, management, and education for leading print dailies in India. [email protected]

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