JICA signs JPY 10 billion loan agreement: The Japan International Cooperation Agency (JICA) has signed a loan agreement with Indian non-banking financial company (NBFC) Tata Cleantech Capital Limited (TCCL) to provide it green loan worth JPY 10 billion ($91.5 million). The latter will use the financing to loan to businesses across India that focus on renewable energy, electric vehicles (EV) and energy efficiency. JICA is co-financing the loan with Sumitomo Mitsui Banking Corporation (SMBC). “JICA’s loan will support TCCL to mitigate the impact of climate change by offering green finance, which will contribute to decrease the emission of GHG in India,” said JICA. TCCL is a joint venture between Tata Capital Limited and International Finance Corporation (IFC) (see IFC JV With Tata Capital Raises INR 1.8 Billion).
Solar paste procurement tender by BHEL: The Bharat Heavy Electricals Limited (BHEL) has issued a tender to procure 352 kg back silver paste, 1,232 kg front silver paste and 13,200 kg back aluminium paste for solar cells. Offers shall be quoted by original manufacturers of these products. These will be purchased by BHEL’s Electronics Division. Techno-commercial and price bids will be accepted till April 9, 2021, according to tender documents.
Solar cells procurement tender: In another tender issued by BHEL’s Solar Business Division (SBD), it is seeking to purchase 3.117 million mono PERC cells with 157mm dimension and 5.38W output, along with 16.555 million multicrystalline solar cells with 157mm dimension and 4.67W. Offers need to be submitted only by original polycrystalline solar cell manufacturers with vendors having a minimum of 100 MW per annum production capacity of polycrystalline silicon solar cells, and mono PERC cell each. According to tender documents, last date to submit bids is April 1, 2021.
Solar developers want PSA backlog cleared: The Solar Power Developers Association (SPDA) have demanded the government do not come out with new tenders till backlog of power sale agreements (PSA) by discoms is cleared. According to the Mercom India Research, the SPDA has written to the Ministry of Power arguing that out of 25 GW solar power capacity auctioned by central public sector units (CPSU) in the last 15 months, power purchase agreements (PPA) have been signed only for 4 GW. Continuing to launch more tenders without ensuring the backlog is cleared creates confusion among discoms, points out the association, due to differing timelines and tariffs of the projects. It also recommends creation of a central coordination forum to monitor progress of bids, and guide agencies with an integrated strategy to connect power procurers and distribution companies.
Adani Green to acquire 75 MW solar capacity: Adani Green Energy Limited (AGEL) will acquire 100% stake in 74.94 MW operational solar power capacity from Sterling and Wilson. It has signed a share purchase agreement for both Sterling and Wilson special purpose vehicles (SPV) for a total value of around INR 4.46 billion ($61.56 million). The projects are located in Medak district in Telangana, and hold long term power purchase agreements (PPA) with Southern Power Distribution Company of Telangana Limited. AGEL said this acquisition will increase its operational renewable capacity to 3.47 GW with a total renewable portfolio of 15.24 GW.