Daily News Wrap-Up: SJVN Tenders 1.5 GW Wind-Solar Hybrid Projects

Government launches pilot projects using green hydrogen in shipping

February 5, 2024


SJVN Green Energy, a subsidiary of SJVN, has invited bids to select developers to set up 1,500 MW of Interstate Transmission System (ISTS)-connected wind and solar hybrid power projects in India. The last date for submitting bids is March 19, 2024. Bids will be opened on March 20. Bidders have to submit ₹29,500 (~$356) as the cost of the tender document and ₹1.5 million (~$18,108) +18% GST as the bid processing fee. Bidders have to submit an earnest money deposit of ₹1.22 million (~$14,799.6)/MW of the quoted capacity.

The Ministry of New and Renewable Energy has said the government has greenlit pilot projects aimed at decarbonizing the shipping sector using green hydrogen under the National Green Hydrogen Mission. The program aims to support the deployment of green hydrogen and its derivatives as fuel for ship propulsion and develop bunkering and refueling facilities at ports. It has an outlay of ₹1.15 billion (~$13.9 million) until the financial year 2025-26.

NTPC Renewable Energy, a wholly-owned subsidiary of NTPC, has invited bids for the selection of hybrid power generators for the supply of 1,000 MW power from ISTS-connected wind-solar hybrid projects anywhere in India under Tranche-V. Projects with or without an energy storage system are eligible to participate in the bid and must be set up on a build-own-operate basis.

Commercial electric vehicle (EV) leasing and asset management company Electrifi Mobility secured ₹250 million (~$3.02 million) in seed-stage funding led by Asian Development Bank Ventures, AdvantEdge Founders, and others. The funding will help Electrifi scale up asset deployment, expand asset refurbishment service infrastructure, and fuel its plans to cover new cities. The company said it aims to deploy over ₹5 billion ($6 million) in commercial EV assets over the next three years, which will include electric two and three-wheelers, cars, light and heavy commercial vehicles.

Norway-based independent power producer Scatec reported a net profit of NOK724 million (~$70 million) in the fourth quarter of 2023, improving from a loss of NOK433 million (~$41.5 million) a year ago, as the company executed various asset sales in the quarter to streamline its operations. The company owns and operates solar, wind, hydro, green hydrogen, and battery energy storage projects across the globe.

The Asian Development Bank has raised ₹12.5 Billion (~$150 million) through green bonds, making it the largest Indian rupee bond to date. The proceeds from this bond will be used to finance ADB’s private-sector renewable energy projects and for green financing. Listed on the Luxembourg Stock Exchange at a fixed interest rate of 6.72% annually, this four-year currency-linked bond has a bullet repayment at maturity. While denominated in Indian rupees, the bonds will be settled in United States dollars with returns to investors indexed against the rupee’s performance.

Germany’s auction to install 1.61 GW of ground-mounted solar photovoltaic systems was oversubscribed by 240%, setting a new record, according to data released by the federal network agency Bundesnetzagentur. The auction received 574 bids, the highest ever, with a volume of 5,485 MW, the largest ever for a ground-mounted solar auction. A total of 124 bids with a volume of 1,613 MW were accepted. The bids quoted in the auction ranged from €0.0444 (~$0.043)/kWh to €0.0547 (~$0.054)/kWh and were below the ceiling tariff of €0.0737 (~$0.076)/kWh.

Climate change-induced extreme weather events like hail, flooding, and high winds are accelerating solar module damage above certain thresholds, causing greater long-term losses in system performance, according to researchers from the National Renewable Energy Laboratory. Researchers compared photovoltaic system performance against the National Oceanic and Atmospheric Administration’s weather maps and studied how performance was affected when extreme events occurred within 10 kilometers of the systems.

UK-based solar cell manufacturing company Oxford PV, in collaboration with the Fraunhofer Institute for Solar Energy Systems, has reported a 25% conversion efficiency for its perovskite solar modules. The company said that its silicon perovskite tandem solar modules delivered an output of 421 watts on an area of 1.68 square meters, making it one of the most efficient modules in the industrial format.