India PV News Snippets

USDFC Shells Out $20 Million For Shell Backed Orb Energy & More From MNRE, Rajasthan, SWSL, Amp Energy India

India PV News Snippets

Orb Energy said the $20 million financing will strengthen its in-house financing facility for rooftop and ground mounted solar projects. (Illustrative Photo; Photo Credit: Yong006/Shutterstock.com)

Orb Energy has raised $20 million from USDFC; MNRE extends Grid Connected Rooftop Solar Programme Phase II; Rajasthan launches SKAY scheme; SWSL subsidiary bags 961 MW solar MoU with Nigeria; Ohmium and Amp Energy India to partner for 400 MW green hydrogen.

Orb Energy raises $20 million from USDFC: Shell backed solar energy company Orb Energy has raised $20 million from the US International Development Finance Corporation (DFC) in a follow-on funding round. It has received $10 million as tranche I of the loan. The company plans to use the proceeds to strengthen its in-house financing facility for rooftop and ground mounted solar customers in India.

MNRE extends rooftop solar programme phase II: The Ministry of New and Renewable Energy (MNRE) has extended the Grid Connected Rooftop Solar Programme Phase II till March 31, 2026. The extension is within the original outlay of INR 118.14 billion ($1.66 billion) for both component A and B (see India Approves Financial Aid For Rooftop Solar Ph-II). In a notification, it added that if there are any savings in the central financial assistance (CFA) for the residential segment under component A or incentives to the distribution companies under component B after achieving the prescribed capacity target, then it will be utilized to support additional capacity in the residential sector (component A). The rooftop solar scheme is aimed at helping the country install 40 GW capacity by 2022 end, however the cumulative has not yet reached a double-digit figure.

Rajasthan’s scheme for solar power on barren land: The State Government of Rajasthan has announced a new scheme to allow farmers to set up solar power plants on unused or barren land. Called Saur Krishi Aajeevika Yojana (SKAY, literally translated to Solar Farmer Livelihood Scheme), it has secured approval from the state Chief Minister Ashok Gehlot. The farmers will be able to earn income from leasing their land for solar installations. The government has developed an online portal to enable such landowners to get their land registered for this purpose. It will also enable land developer to secure central government subsidy of 30% under PM-KUSUM Scheme. The state government will enter the tripartite agreement with the land owner, developer and discom to ensure the farmer is protected from risk. The government wants to make Rajasthan a green energy generating state and reduce its carbon emissions.

SWSL subsidiary signs solar MoU with Nigeria: Solar EPC company Sterling and Wilson Solar Limited (SWSL) US based subsidiary Sterling and Wilson Solar Solutions (SWSS) has signed a memorandum of understanding (MoU) with Nigerian government to build 961 MW solar PV in the country. It will realize this capacity with battery energy storage systems (BESS) of 455 MWh at 5 locations in the country with its partner Sun Africa. These will be owned and operated by Niger Delta Power Holding Company. Finance is expected to be provided by the US Export Import Bank, ING and the Nigerian government.

Ohmium and Amp Energy enter partnership: US based PEM electrolyzer manufacturer Ohmium International will supply its products to Indian renewable energy independent power producer (IPP) Amp Energy India for 400 MW green hydrogen projects. Amp Energy will utilize Ohmium technology to target mid-size commercial and industrial (C&I) projects of 25 MW or smaller. Projects will be installed over the next 3 years with Ohmium honoring the deal through its local India manufacturing facility. Amp Energy has a total portfolio of about more than 2 GW comprising solar, wind, hybrids, storage facility. In August 2022, Ohmium entered a similar partnership with Shell India (see India PV News Snippets). Earlier Hero Future Energies (HFE) said along with Ohmium it will jointly build 1 GW green hydrogen production facilities in the UK, Europe and India (see 1 GW Green Hydrogen Partnership).

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews. Anu is our solar news whirlwind. At TaiyangNews she covers everything that is of importance in the world of solar power.

Subscribe To Newsletter


Top Solar Modules Listing

Latest Videos

Loading...
Subscribe To Our Taiyang NewsLetter 
Enter your email to receive our daily solar sector updates.