India PV News Snippets

• Eccopia has once again partnered with Actis to deploy its robotic cleaning solutions for 150 MW capacity in Andhra Pradesh
• VRET has raised INR 6.5 billion to funds its immediate acquisition related debt requirements to expand its renewable energy portfolio
• Torrent Power has purchased a SPV managing a 25 MW operational solar power plant in Gujarat

Ecoppia bags order for 150 MW solar capacity; VRET has raised INR 6.5 billion to expand portfolio; Torrent Power invests in 25 MW solar plant.

Ecoppia solution for 150 MW PV in AP: Israeli robotic solar panel cleaning solutions company Ecoppia has bagged another order for its technology in India, for a 150 MW plant in Anantapuram, Andhra Pradesh. It will deploy the solution for Actis' India platform Sprng Energy in Q2/2022. This is another Actis project in India for Ecoppia. Previously, it deployed the technology for Ostro Energy in 2017. Pointing out the benefits of having robotic cleaning solutions for solar panels, Ecoppia claimed most developers in India struggled to get their solar panels cleaned during more than 150 days of national lockdown in 2020 and 2021 due to COVID-19. However, it emphasized that none of its more than 2 GW sites missed a single day of cleaning.

VRET raises INR 6.5 billion: Virescent Renewable Energy Trust (VRET) has raised INR 6.5 billion ($86 million) through listed rated non-convertible debentures claiming it to be the largest single series issuance of INR 5.0 billion ($66 million) by a renewable energy company. It plans to use proceeds to fund its immediate acquisition related debt requirements as it scales up its portfolio from the existing 450 MW DC of operational solar projects.

"VRET's bond issuance comes in the backdrop of the announcement in the recent Union Budget to issue Sovereign Green Bonds, thereby continuing the Govt. of India's serious push to promote renewables. Proceeds from Green Bonds are earmarked only for green projects," stated VRET. "With this new initiative by Govt. of India, more renewable energy companies are expected to issue Green Bonds in domestic market at competitive pricing."

Torrent Power acquires 25 MW solar plant: Electricity supplier Torrent Power has acquired a 25 MW solar power plant in Gujarat from Blue Diamond Properties Private Limited and Balrampur Chini Mills Limited for INR 1.63 billion ($21.65 million). The SPV acquired is called Visual Percept Solar Projects Private Limited that has been operating the solar plant with a long-term power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for 25 years.