Daily News Wrap-Up: ReNew Power Commissions a 300 MW Wind Project in Gujarat

Power Exchange India Limited has launched the Green-Term Ahead Market


Here are some noteworthy cleantech announcements of the day from around the world:

ReNew Power has commissioned a 300 MW of wind power project in Kutch, Gujarat. The project was awarded to ReNew’s operating subsidiary, ReNew Wind Energy, in a competitive e-reverse auction conducted by the Solar Energy Corporation of India. The 300 MW project would provide clean power to Haryana and Orrisa at ₹2.44 (~$0.034)/kWh.

Power Exchange India Limited (PXIL) has launched the Green-Term Ahead Market on its transaction platform on March 24, 2021. In the market, PXIL would offer trade-in two types of green-term ahead contracts – Intraday contracts and Anyday contracts – in both solar and non-solar segments. This combination of contracts would cover the delivery period beginning from a few hours up to 11 days from the trade.

PowerGrid Corporation of India has acquired a 74% stake in Jaypee Powergrid, a joint venture company of PowerGrid and Jaiprakash Power Ventures. With this acquisition, Jaypee Powergrid became a subsidiary of PowerGrid Corporation of India.

The U.S. Department of Energy has unveiled a target to cut solar energy costs by 60% within the next ten years. The department accelerated its utility-scale solar 2030 cost target by five years and set a new target of driving down the current cost of $0.046/kWh to $0.03/kWh by 2025 and $0.02/kWh by 2030.  Also, the department announced funding worth $128 million to lower costs, improve performance, and speed the deployment of solar energy technologies.

Masdar and the Government of Ethiopia have signed a memorandum of understanding (MoU) to explore opportunities for developing solar projects with a total capacity of 500 MW and related grid infrastructure across Ethiopia. The MoU includes the development, financing, design, procurement, construction, testing, commissioning, insurance, ownership, operation and maintenance, and transfer of solar projects. The two parties intend to sign power purchase agreements and other relevant agreements later this year and commence commercial operations in 2022.

UK added 12.8 MW of rooftop solar capacity in February 2021, according to the Department of Business, Energy, and Industrial Strategy of the U.K. The report said the U.K. has 13.54 GW of installed solar capacity across 1,067,733 installations. In February 2021, new solar installations in the country stood at 3,582.

Exide Technologies and EDP have commissioned a solar project at Exide’s battery production facility in Castanheira do Ribatejo, Portugal. Last year, Exide introduced a solar project at its battery recycling facility in Azambuja, Portugal. Currently, the company has 4.5 MW of solar capacity across two installations in Portugal.

Here is our previous daily news wrap-up.

Harsh Shukla is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.

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