- According to the MNRE, India’s renewable energy capacity has grown to 100 GW, with 50 GW under installation
- IFC and Warburg Pincus selling stake in CleanMax to Augment Infrastructure for INR 16.5 billion
- RUMSL’s 500 MW solar auction has been won by Tata Power and AIJomaih Energy and Water Company, according to Mercom India Research
- Tata Power Solar has won SECI’s 50 MW solar PV co-located with 50 MWh battery energy storage auction
India achieves 100 GW RE milestone: RK Singh, the Minister heading the Ministry of New and Renewable Energy (MNRE), has announced India’s installed renewable energy capacity has grown to exceed 100 GW. “Today India stands at 4th position in the world in terms of installed RE capacity, 5th in solar and 4th in wind in terms of installed capacity,” according to the ministry. It has another 50 GW under installation and 27 GW in tendering processes. Adding large hydro would increase the renewable energy capacity to 146 GW. India now aims to reach 450 GW installed capacity by 2030. While the minister did not specify individual shares of renewable energy sources in the 100 GW milestone, the MNRE website mentions cumulative solar power capacity of the country as 42.64 GW (comprising 37.544 GW for ground mounted solar and 5.098 GW of rooftop solar). Off grid solar is shown as 1.3 GW as on July 31, 2021. However, India also targets 100 GW by end of 2022, which leave nearly 60 GW to go in less than 1.5 years to reach that target.
Augment to acquire majority stake in CleanMax: UK based investment firm Augment Infrastructure is acquiring a majority stake in CleanMax Enviro Energy Solutions Pvt. Ltd. from Warburg Pincus and International Finance Corporation (IFC) for INR 16.5 billion ($222 million) (see US Private Equity Firm Invests In CleanMax Solar). UK Climate Investments (UKCI) will continue to be invested in the solar developer for commercial and industrial (C&I) segment. CleanMax aims to ramp up its capacity to 2 GW by 2023-24.
RUMSL’s 500 MW auction concluded: The Rewa Ultra Mega Solar Limited (RUMSL) has adjudged Tata Power subsidiary TP Saurya and Aljomaih Energy and Water Company quoted INR 2.14 ($0.028) per kWh and INR 2.149 ($0.0289) per kWh to conclude its 500 MW Neemuch Solar Park auction. According to Mercom India Research, both the winners claimed 170 MW each.
Tata Power Solar wins SECI auction: Tata Power Solar announced winning the country’s ‘1st ever’ large scale 50 MWh battery energy storage system co-located with 50 MW solar PV plant as an EPC project in Leh, Ladakh. It plans to bring it online by March 2023 with an investment worth INR 3.86 billion ($52 million). The Solar Energy Corporation of India (SECI) had launched the tender in January 2021 (see India PV News Snippets: AGEL, Azure, SECI, Manipur).