Author Archives: Gourav Mishra

About Gourav Mishra

Gourav, Staff reporter at Mercom India More articles from Gourav.
Gourav is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master's in journalism from Jain University, Bengaluru. More articles from Gourav Mishra

gourav@mercomindia.com

@mishra_2202

Tata Power’s Rooftop Solar Revenue Grows 41% to ₹5.3 Billion in Q3

Tata Power’s Rooftop Solar Revenue Grows 41% to ₹5.3 Billion in Q3

Tata Power reported a 91% year-over-year (YoY) jump in net profit to ₹10.52 billion (~$127.6 million) for the third quarter (Q3) of the financial year (FY) 2022-2023, primarily due to ...
/ / Finance and M&A, Solar
Abu Dhabi’s IHC to Invest $400 Million in Adani’s Share Offer

Adani Enterprises to Return Abu-Dhabi-Based IHC’s $400 Million Investment

(This article updates the previous story from January 31, 2023, to include Adani's announcement of FPO withdrawal) Adani Enterprises will return the recently announced investment of AED 1.4 billion (~$400 ...
TotalEnergies Sells Half of $300 Million Renewables Portfolio

TotalEnergies Sells Half of $300 Million Renewables Portfolio

France-based energy conglomerate TotalEnergies said it has sold 50% of a 234 MW portfolio of renewable projects to insurance group Crédit Agricole Assurances. The company said that the transaction implied ...
/ / Finance and M&A, Other
Siemens Gamesa’s Q1 Net Loss Widens to €884 Million on Higher Service Costs

Siemens Gamesa’s Q1 Net Loss Widens to €884 Million on Higher Service Costs

Spain-based wind turbine maker Siemens Gamesa’s net loss widened to €884 million (~$971.9 million) for the first quarter (Q1) of the financial year (FY) 2023 compared to €403 million (~$443.2 ...
/ / Finance and M&A, Other, Wind
Qcells to Develop Solar Projects for Microsoft in the US

Qcells to Develop Solar Projects for Microsoft in the US

Solar cell and module manufacturer Qcells and global technology company Microsoft Corporation have entered a strategic partnership to supply over 2.5 GW of solar modules and extend engineering, procurement, and ...
/ / C&I, Markets & Policy, Solar
Coal India Invites Bids to Select EPC Contractor for 35 MW Solar Project

Coal India Invites Bids to Select EPC Contractor for 35 MW Solar Project

Coal India Navikarniya Urja Limited (CNUL), a subsidiary of Coal India (CIL), has invited bids to select a contractor for the design, engineering, procurement, and construction of a 35 MW ...
/ / Solar, Tenders & Auctions
REC India’s Q3 Net Profit Rises 3.6% YoY to ₹28.7 Billion on Improved Asset Quality

REC India’s Q3 Net Profit Rises 3.6% YoY to ₹28.7 Billion on Improved Asset Quality

Government-owned power sector lender REC India posted the highest-ever quarterly net profit at ₹28.78 billion (~$351.37 million) in the third quarter (Q3) of the financial year (FY) 2022-2023, up 3.8% ...
/ / Finance and M&A, Other
Canadian Solar to Expand Solar and Battery Storage Capacity in China

Canadian Solar to Expand Solar and Battery Storage Capacity in China

CSI Solar, a wholly-owned subsidiary of solar module maker Canadian Solar, has entered a multi-year investment agreement with the municipal government of Yangzhou City in Jiangsu Province of China for ...
/ / Other, Renewable Energy
NextEra’s Clean Energy Business’ Net Income Up 17% YoY in Q4 2022

NextEra’s Clean Energy Business’ Net Income Up 17% YoY in Q4 2022

The U.S.-based energy company NextEra Energy reported a net income of $1.52 billion for the fourth quarter (Q4) of 2022, up by 26.41% year-over-year (YoY), driven primarily due to successful ...
Hecate Energy Secures $550 Million to Support Renewables Expansion

Hecate Energy Secures $550 Million to Support Renewables Expansion

U.S.-based Hecate Energy, a developer of renewable projects and provider of energy storage solutions, closed a five-year $550 million credit facility package, including a $250 million term loan and $300 ...
Germany Earmarks Sites to Expand Offshore Wind Capacity to 30 GW by 2030

Germany Earmarks Sites to Expand Offshore Wind Capacity to 30 GW by 2030

The German Federal Maritime and Hydrographic Agency (BSH) has published the area development plan 2023 aimed at helping Germany achieve its target of expanding offshore wind energy to 30 GW ...
/ / Renewable Energy, Wind
JA Solar to Supply Modules for 875 MW Solar Project in Qatar

JA Solar to Supply Modules for 875 MW Solar Project in Qatar

Beijing-based solar module maker JA Solar has signed a deal with Samsung C&T, a South Korea-based construction and engineering company, to supply photovoltaic modules for the largest solar project in ...
/ / Other, Renewable Energy
Hexicon Inches Closer to Developing 7.1 GW Offshore Wind Projects in Italy

Hexicon Inches Closer to Developing 7.1 GW Offshore Wind Projects in Italy

Italy's transmission system operator (TSO) Terna SpA has approved six of Sweden-based Hexicon's seven proposed floating wind power projects for connection to the national grid. Terna's interconnection permit is a ...
/ / Finance and M&A, Wind
JSW Energy’s Q3 Profit Dips 45% YoY to ₹1.8 Billion

JSW Energy’s Q3 Profit Dips 45% YoY to ₹1.8 Billion

JSW Energy, an independent power producer, posted a 45% year-over-year (YoY) drop in its profit at ₹1.8 billion (~$22.2 million) for the third quarter (Q3) of the financial year 2023, ...
/ / Finance and M&A, Other
India's Wind Installations Increased 8% YoY to 229 MW in Q4 2022

India’s Wind Installations Increased 8% YoY to 229 MW in Q4 2022

Total wind capacity installations in India increased year-over-year (YoY) by 8%, with 229 MW added in the fourth quarter (Q4) of 2022 against 212 MW installed during Q4 2021. However, ...
Sterling and Wilson’s Q3 Revenue Shrinks 73% YoY to ₹4.18 Billion

Sterling and Wilson’s Q3 Revenue Shrinks 73% YoY to ₹4.18 Billion

The total revenue of Sterling and Wilson Renewable Energy, the solar engineering, procurement, and construction (EPC) arm of Shapoorji Pollonji Group, fell by 73% year-over-year (YoY) to ₹4.18 billion (~$51.5 ...
/ / Finance and M&A, Solar
US Agency to Train Renewable Energy Procurers in Eight Indian States

US Agency to Train Renewable Energy Procurers in Eight Indian States

The United States Trade and Development Agency (USTDA) has launched the Interstate Clean Energy Procurement Program (ICEPP) to train public procurers of clean energy on the best value and life-cycle ...
/ / Other, Renewable Energy
India Making Efforts to Push Clean Energy Use in Farming: Power Minister

India Making Efforts to Push Clean Energy Use in Farming: Power Minister

India’s Minister for New and Renewable Energy (MNRE) R K Singh said that the country is aiding farmers with millions of solar water pumps while providing them with ammonia-based fertilizers ...
/ / Other, Renewable Energy
Brazil-based Unigel to Invest $1.5 Billion for a Green Hydrogen Project

Brazil-based Unigel to Invest $1.5 Billion for a Green Hydrogen Project

Brazil-based chemical company Unigel said it would invest about $1.5 billion in an industrial-scale green hydrogen project in the South American country. The project would make Unigel the country's largest ...
/ / Other, Renewable Energy
Chinese Firm Announces Development of 710 Wp Heterojunction Solar Module

Chinese Firm Announces Development of 710 Wp Heterojunction Solar Module

Solar module manufacturing technology has been evolving rapidly over the last few years, with Chinese companies at the forefront of the development. The race for better and more efficient modules ...
/ / Solar, Technology
Researchers Use Compression to Raise Lithium Cell Cycle Life by 40%

Researchers Use Compression to Raise Lithium Cell Cycle Life by 40%

Researchers at the ARC Training Centre for Future Energy Storage Technologies (storEnergy) found that the suppression of the lithium metal creep (Li-creep) under controlled conditions can extend the cell cycle ...
/ / Energy Storage, Technology
Adani Renewable Energy Two, a wholly-owned subsidiary of Adani Green Energy (AGEL), said it has signed a binding agreement to buy 50% equity interest in Essel Saurya Urja Company of Rajasthan (ESUCRL). AGEL said that ESUCRL owns and operates a 750 MW solar park in Rajasthan, and the acquisition will expand its footprint in the state. ESUCRL was incorporated in May 2015 and the company’s turnover for the financial year 2021-22 stood at ₹98.8 million (~1.2 million). It has an authorized capital of ₹500 million (~$6.1 million). Further, AGEL said it already owns and operates Adani Renewable Energy Park Rajasthan set up in a joint venture with the state government. “The acquisition is expected to be value accretive to our shareholders. The estimated cost to be borne by AGEL’s subsidiary for the acquisition is ₹150 million (~$1.8 million),” the company said in a BSE filing. The state government will hold the remaining 50% of the equity shares. The transaction is likely to be completed by February 28, 2023. In December 2022, AGEL said that its hybrid power generation capacity reached 1,440 MW with the company commissioning its third wind-solar hybrid power plant of 450 MW in Jaisalmer, Rajasthan. Adani Green inked power purchase agreements with the Solar Energy Corporation of India at a tariff of ₹2.67 (~$0.032)/kWh for a tenure of 25 years. Also in December, Adani Enterprises emerged to be the only company to commence the construction of a polysilicon and monosilane production unit to be set up in Gujarat’s Mundra. Engineers India, the state-owned construction, and engineering firm secured the order to provide owner’s engineer services for 30,000 MTPA polysilicon and 500 MTPA monosilane project from Mundra Solar Technology which is Adani’s group company. According to Mercom’s India Solar Market Leaderboard 1H 2022, Adani Solar was one of the top five leading module suppliers to the Indian solar market during the first half of 2022.

Adani Green to Acquire 50% Stake in Rajasthan-based Solar Park Developer

Adani Renewable Energy Two, a wholly-owned subsidiary of Adani Green Energy (AGEL), said it has signed a binding agreement to buy 50% equity interest in Essel Saurya Urja Company of ...
/ / Markets & Policy, Solar
Loom Solar Raises $2 Million from US-Based Asset Manager

Loom Solar Raises $2 Million from US-Based Asset Manager

Haryana-based solar technology startup Loom Solar raised $2 million in funding from the U.S.-based asset manager Social Investment Managers and Advisors (SIMA Funds) to support its growth strategy for solar ...
/ / Finance and M&A, Solar
Madhya Pradesh Invites Bids for 1.1 GW Solar Projects Under PM KUSUM

Madhya Pradesh Invites Bids for 1.1 GW Solar Projects Under PM KUSUM

Madhya Pradesh Urja Vikas Nigam (MPUVNL) has invited bids to develop approximately 1,110 MW of grid-connected solar projects under component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan ...
/ / Solar, Tenders & Auctions
Alantra and Solarig Partner to Launch a €1.7 billion Solar Investment Vehicle

Alantra and Solarig Partner to Launch a €1.7 Billion Solar Investment Vehicle

Global financial services firm Alantra has partnered with the utility-scale clean energy project developer Solarig, Switzerland-based Infrastructure asset manager Reichmuth and France-based asset manager Amundi Energy Transition to launch a ...
/ / Finance and M&A, Solar