Over 9 GW renewable energy for Indian coal companies; InSolare raises INR 660 million; Gensol commissions 160 MW plant in Gujarat; Alpex lands INR 437 million orders under PM-KUSUM; SolarSpace modules for NTPC.
9 GW for coal producers: The Ministry of Coal has set a target of over 9 GW renewable energy capacity for its coal mining companies by 2030, up from around 1.7 GW solar and 51 MW wind energy capacity at present. This is the combined capacity for India’s leading coal companies including Coal India Limited (CIL), NLC India Limited (NLCIL) and SCCL. Solar energy especially is a big part of the plan as the ministry has issued a directive for coal companies to accelerate the adoption of solar energy solutions. It includes rooftop solar panels on all government buildings and establishment of solar projects in de-coaled areas and other suitable, previously utilized spaces. The ministry says innovative plans are underway to develop solar parks within the reclaimed mining areas as well as other suitable areas.
“With a keen focus on enhancing renewable energy capacity, the Ministry has set ambitious net-zero electricity consumption plan for Coal/Lignite PSUs,” says the ministry. “This strategic initiative is aligned with the government’s updated NDC target to achieve 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030.”
INR 660 million for Indian EPC: Solar EPC InSolare has raised INR 660 million ($8 million) in its growth funding round. Led by Negen Capital, other contributors to the funding round are Mukul Mahavir Aggarwal from Anchorage Capital Fund and Ankit Mittal from Khazana Tradelink, according to a company statement reported by local media. The company has a portfolio of over 300 MW EPC work orders and a 500 MW solar park. It says the capital infusion will empower it to strengthen its capabilities and expand its footprint in the renewable energy market.
Gensol has commissioned 160 MW solar plant (in the picture) at Bhavnagar, Gujarat. (Photo Credit: Gensol Engineering Limited)
160 MW online in Gujarat: Indian EPC player Gensol Engineering Limited has commissioned a 160 MW ground mounted solar project for Continuum Green Energy in Gujarat. The Bhavnagar located project is valued at INR 1.28 billion ($15.4 million). Recently, it also emerged as the L1 or the lowest tariff bidder for 70 MW/140 MWh out of the 250 MW/500 MWh standalone battery energy storage systems (BESS) projects. The tender was launched by the Gujarat Urja Vikas Nigam Limited (GUVNL). Gensol will build the project to deliver energy for 2 charges/discharges/day. It will contribute INR 4.5 billion ($54 million) to the company’s revenues over the contract period.
Big orders for Alpex: Solar module manufacturer Alpex Solar has confirmed securing 2 orders from the Department of New and Renewable Energy Haryana (HAREDA) for 1,434 solar water pumping systems. Both the orders have been placed under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan Yojana (PM-KUSUM Scheme). The 1st order for 845 solar water pumps is worth INR 265 million ($3.2 million) under component-B of the scheme. These will be installed at 845 locations in the state of Haryana. Under the 2nd order worth INR 172 million ($2.1 million), Alpex will install and commission 589 systems. Alpex was recently listed on the National Stock Exchange Emerge (see India Solar PV News Snippets).
China’s SolarSpace will supply its bifacial solar modules to NTPC. (Photo Credit: SolarSpace)
Chinese modules for NTPC: State-owned power company NTPC Limited has signed a module supply agreement with Chinese module supplier SolarSpace. The latter has announced securing an order from NTPC for its 375 MW ground mounted project in Bhuj, Gujarat. The initial batch of bifacial modules has also arrived on site.
