Daily News Wrap-Up: ADB and IIFL Home Finance to Promote Green Housing in India

Tata Power Renewable Energy commissions 100 MW solar power project in Gujarat


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

Asian Development Bank (ADB) and IIFL Home Finance Limited (IIFL) inked an agreement for a $1 million technical assistance to encourage green and affordable housing solutions in India. ADB and IIFL will raise awareness on climate risk mitigation and adaptation and green-certified housing standards among developers and other stakeholders. The technical assistance will be supported by an additional $150,000 from IIFL. The program will promote market research initiatives to enhance understanding of the green housing market and value chain. A system to integrate green lending and climate adaptation strategies in affordable housing will also be established.

Tata Power Renewable Energy Limited (TPREL), a 100% subsidiary of Tata Power, has commissioned a 100 MW Solar Power project at Raghanesda Solar Park, Gujarat. The plant is expected to generate 255 million units in its first year of operation, offsetting 200,000 tons of CO2 every year. Gujarat Urja Vikas Nigam awarded the project. Tata Power’s EPC arm Tata Power Solar Systems Limited completed the project. The total installed capacity of TPREL is now 2,797 MW with 1,865 MW of Solar and 932 MW of wind.

Ireland-based building technology firm Johnson Controls announced a joint venture with private equity investor Apollo Global Management to provide energy efficiency services to meet real estate decarbonization goals. The joint venture will provide energy efficiency and intelligent buildings services tailored to schools, campuses, data centers, healthcare facilities, and commercial and industrial facilities in the U.S. and Canada to meet environmental standards to combat climate change and reach their carbon neutrality goals.

Recurrent Energy, a 100% subsidiary of Canadian Solar, signed a 15-year Resource Adequacy agreement with Pacific Gas & Electric PG&E to provide 150 MW/600 MWh of energy storage in phase 2 of the Crimson project. The 350 MW / 1,400 MWh, Crimson project is expected to commence operations in summer 2022. Earlier this year, Southern California Edison awarded Recurrent Energy a long-term energy storage contract for 200 MW / 800 MWh for phase 1 of the Crimson project. The contracts are stand-alone storage projects and are part of reliability procurements directed by the California Public Utilities Commission.


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