SECI has earned INR 100 billion from power trading; GUVNL has auctioned 500 MW solar capacity under phase XIX, says Mercom; RIL drops plan for RNEL’s merger; Gautam Solar’s high efficiency panels for Bhopal airport.
SECI trades 35 BU power: The Solar Energy Corporation of India (SECI) has traded over 35 billion units (BU) of power during FY 2022-23, reflecting an annual jump of 59% over the previous year. Its revenue from power trading has now crossed INR 100 billion ($1.2 billion) for the 1st time, announced the agency’s MD Suman Sharma. Till date, it has awarded renewable energy project capacities of over 56 GW.
GUVNL’s 500 MW solar auction: Gujarat Urja Vikas Nigam Limited (GUVNL) has auctioned 500 MW of its grid connected PV capacity under phase XIX to 4 companies. According to Mercom India Research, ReNew Power secured 200 MW for the lowest tariff of INR 2.71 ($0.0330)/kWh, while Mahindra Susten won 100 MW and Solarcraft Power bagged 60 MW for the winning tariff of INR 2.74 ($0.0334)/kWh each. Avaada Energy won 140 MW for INR 2.75 ($0.0335)/kWh.
No more merger of RNEL with RIL: Reliance Industries Limited (RIL) has announced it won’t go ahead with the planned merger of its subsidiary Reliance New Energy Limited (RNEL) with the parent company. RNEL is RIL’s platform to operate its new energy and renewable energy business. “Based on a review of the new energy / renewable energy business and investment structure, the Board, at its meeting held on April 21, 2023, has decided that the new energy/renewable energy business should be undertaken through RNEL and the scheme be withdrawn,” stated RIL to the Bombay Stock Exchange.
Gautam Solar modules for Bhopal airport: Bhopal’s Raja Bhoj International Airport has been equipped with high efficiency solar panels from Indian module supplier Gautam Solar. Referring to a company release, local media reported that the manufacturer has supplied its 10BB mono half-cut solar panels with up to 545W for the solar system installed on the parking area’s rooftops, and other designated areas for the airport staff’s residence. The solar project can generate around 150,000 units of electricity annually.