Daily News Wrap-Up: Bhakra Beas Board’s Tender for 11.5 MW Solar Projects
Eastern Railway floats tender for 2.2 MW rooftop solar systems
February 15, 2023
Bhakra Beas Management Board has invited bids to install and commission 11.5 MW of grid-connected solar power projects along with the associated transmission system in the Bhiwani and Hisar districts of Haryana. The successful bidder will also have to take care of the project’s operation and maintenance for five years, extendable for another five years. The projects will be developed at the 400 kV substation in Bhiwani (10 MW) and the 220 kV substation in Hisar (1.5 MW).
The Howrah Division of Eastern Railway has invited bids for the design and supply of a 2.2 MW on-grid rooftop solar project without battery backup. The last date for the submission of bids is March 6, 2023. Bids will be opened on the same day. Bidders will have to furnish an earnest money deposit of ₹653,000 (~$7,895). The project must be completed within six months of receiving the work order.
Researchers at the Georgia Institute of Technology said they have discovered that halide perovskite solar cells are far less stable than previously thought and revealed the thermal instability that occurs within the cells’ interface layers. However, they have also offered a path toward reliable and efficient halide perovskite solar technology. Lead halide perovskite solar cells promise superior conversion of sunlight into electrical power.
Rajasthan Electronics and Instruments, a joint venture between the Central and the Rajasthan government, has invited bids to procure 6,000 solar modules with a wattage output of at least 335W made from 72 polycrystalline silicon solar cells. Only solar modules made by Sova Solar, Navitas, Gautam Solar, Goldi Green, Credence, RenewSys, Waaree, and Topsun will be procured under this tender.
State-owned lender Power Finance Corporation (PFC) posted its highest-ever consolidated quarterly profit of ₹52.41 billion (~$633.5 million) for the third quarter of the financial year (FY) 2022-23, an increase of 7% year-over-year (YoY). The company saw its lowest-ever net non-performing assets (NPAs) ratio due to a decline in stressed assets through the April-December period, contributing to its profit. PFC’s consolidated net NPA decreased by 71 basis points to 1.15% in 9M of FY 2022-23 from 1.86% YoY.
Indian wind turbine manufacturer Suzlon Energy posted a net profit of ₹780 million (~$9.4 million) during the third quarter (Q3) of the financial year (FY) 2023, an increase of 110% year-on-year (YoY). The quarterly profit, which is the highest in more than five years, was buoyed by a 56% reduction in finance cost to ₹800 million (~$9.6 million) in the third quarter.
Flux-Power, a U.S.-based lithium-ion energy storage solutions provider, posted a net loss of $1.7 million during the second quarter of the financial year 2023 compared to $5.1 million year-over-year, driven by increased sales volumes and higher selling prices to existing and new customers. For the October-December period, the company’s revenue rose by 123% YoY to $17.2 million. The earnings before interest, taxes, depreciation and amortization (EBITDA) loss stood at $0.9 million during the quarter, compared with a $1.5 million EBITDA loss YoY.
SolarEdge, an Israel-based solar inverters manufacturer, posted revenue of $890.7 million for the fourth quarter of the financial year 2023, a jump of 61.4% year-over-year (YoY). The performance was primarily driven by higher shipments. The company’s solar segment recorded a 70.4% YoY growth to $857 million for the quarter. However, SolarEdge’s consolidated net income for the October-December quarter nearly halved YoY to $20.8 million on account of intangible asset impairment amounting to $114.5 million, which included $107.4 million for e-mobility and $7.1 million for automation machines.