India Solar PV News Snippets

TPREL to build group captive solar projects for ANAND Group, Sanyo Steel, Chalet Hotels & Neosym Industry; Ayana lands Hindalco deal for 100 MW RE; IREDA and IIFL sign MoU for renewable energy financing; NTPC & OIL MoU for renewable energy and green hydrogen projects.  

Over 60 MW AC group captive solar: Tata Power Renewable Energy Limited (TPREL) has signed power delivery agreements (PDA) for a total of over 64.5 MW AC group captive solar capacity with various customers. It will be developed as: 

• 4.4 MW AC capacity for automotive and parts industry company ANAND Group  
• 28.125 MW AC for Sanyo Special Steel Manufacturing India (SSMI) in Maharashtra from a 120 MW AC project at Aachegaon 
• 6 MW AC solar plant for Chalet Hotels Limited, and  
• 26 MW AC project for iron casting manufacturer Neosym Industry Limited in Maharashtra. 

Ayana's 100 MW RE deal: Independent power producer (IPP) Ayana Renewable Power has secured a power purchase agreement (PPA) with the metals producer Hindalco Industries Limited for 100 MW round-the-clock (RTC) renewable power supply. This clean energy from 330 MW solar and wind projects will power Hindalco's smelter plants in Odisha. It will utilize pumped hydro storage solutions in partnership with Greenko Energies. Backed by National Investment and Infrastructure Fund (NIIF), British International Investment (BII) and Green Growth Equity Fund, Ayana says this PPA is a significant milestone in the aluminum industry.   

MoU for RE financing: The Indian Renewable Energy Development Agency Ltd. (IREDA) and India Infrastructure Finance Company Ltd. (IIFCL) have announced a memorandum of understanding (MoU) to engage in co-lending/co-origination and loan syndication for all categories of renewable energy projects. Both these government-owned agencies will also strive to fix interest rates for IREDA borrowings for a period of 3 years to 4 years. IIFCL may also invest in IREDA bonds.      

NTPC & OIL RE partnership: Indian government-owned utility NTPC Limited has announced an MoU with state-owned oil producer Oil India Limited (OIL) to collaborate for renewable energy, green hydrogen and its derivatives. Geothermal and other decarbonization initiatives will also be on the partnership's radar. The duo aims to enhance its footprint in renewable energy domain and foray into sustainable solutions to advance the efforts towards achieving the country's net zero targets.