Daily News Wrap-Up: Adani & ReNew to Invest in Renewable Projects in Andhra and Karnataka
ReNew Power to invest ₹500 billion to develop renewable energy projects in Karnataka
Here are some noteworthy cleantech announcements of the day from around the world:
Adani Green Energy (AGEL) signed a memorandum of understanding with the Andhra Pradesh government to develop green energy projects with an investment of ₹600 billion (~$7.73 billion). Under the agreement, AGEL would deploy renewable energy projects of 10 GW capacity and pumped hydro storage projects totaling 3.7 GW capacity in Andhra Pradesh to provide power round the clock. Of the 10 GW, the share of solar is expected to be 7.5 GW to 8 GW, and the remaining would be wind. The green energy projects are expected to generate employment for 10,000 people.
Chief Minister of Karnataka Basavaraj Bommai announced the signing of a memorandum of understanding with ReNew Power for an investment of ₹500 billion (~$6.44 billion). The company plans to invest in developing renewable energy, battery storage, and green hydrogen projects in Karnataka.
Lord’s Mark Industries announced what it claimed is the world’s biggest solar street light system based on a remote monitoring system in Bihar. Lords is the sole channel partner of Philips India to develop such projects in the government sector. The contract size is ₹9 billion (~$116 million), of which the first phase will entail ₹3 billion (~$38.67 million). The company plans to install 200,000 streetlights in the next two years. The light poles are fitted with a SIM card box, which transmits data to a centralized system.
KPI Green Energy announced the commissioning 1.2 MW solar power project in Gujarat for Revival Paper Mill, Valsad, under the Captive Power Producer segment of the company. The commissioning certificate was issued to the company by Gujarat Energy Development Agency. The company has a solar asset base of over 100 MW with more than 60 MW of operational capacity and over 40 MW of capacity under construction.
EDP Renewables, a Spain-based wind energy producer, entered into an industrial agreement with Lhyfe, a green hydrogen producer, to jointly identify, develop, build and manage projects in this business area. EDPR will supply renewable electricity to Lhyfe’s hydrogen generation projects. The two companies will identify opportunities for the co-development of projects, with EDPR’s shareholding potentially reaching up to 50% of the projects’ capital. The companies will also work together on research and development activities, new project development, and equipment procurement.