Daily News Wrap-Up: Karnataka Allows Monthly Energy Banking for RE Generators

Maharashtra floats tender for a 62 MW solar project

April 18, 2023


The Karnataka Electricity Regulatory Commission, under the new format for banking agreement, has now allowed monthly energy banking for renewable energy generators to ensure better grid stability and energy demand management. The state previously had an annual energy banking settlement mechanism. The new format also includes wheeling agreements for renewable energy projects under its green energy open access regulations.

Maharashtra State Power Generation Company has invited bids for installing and commissioning a 62 MW grid-connected solar power project with the associated high-tension overhead transmission line, underground cable, and electrical equipment in the Akola district of Maharashtra. The successful bidder will also have to construct bays up to the point of interconnection at 220 kV bays at the Paras substation and operate and maintain the project for five years.

Mercom India will bring together industry experts to discuss the role of corporates and industries in leading India’s decarbonization and renewables adoption at the ‘Mercom India Renewables Summit 2023,’ an exclusive event on April 26-27 in New Delhi. At a session titled ‘Corporates and Industries Leading Decarbonization and Renewables Adoption‘ scheduled for April 27, 2023, panelists will explore the best practices and innovative business models that can make renewable energy more attractive and profitable for different sectors.

Green hydrogen is expected to be essential in realizing India’s ambitious target of reducing carbon emissions and transitioning to a low-carbon economy. India aims to achieve 500 GW of non-fossil energy capacity by 2030. Mercom India will bring together industry experts to discuss the criticality of green hydrogen in decarbonizing hard-to-abate sectors at the ‘Mercom India Renewables Summit,’ an exclusive event on April 26-27 in New Delhi. At a session titled ‘Green Hydrogen – The Critical Piece in the Decarbonization Puzzle‘ scheduled for April 26, 2023, panelists will discuss the challenges for India to emerge as a significant hub in producing this clean fuel.

The Group of Seven (G7) nations pledged to phase out coal and achieve carbon-free electricity production by 2035. The agreement was reached during a two-day conference held in Sapporo, Japan, in preparation for the G7 summit scheduled to take place in Hiroshima in May. The G7 nations, which account for 40% of the world’s economic activity and a quarter of global carbon emissions, play a critical role in mitigating the impacts of climate change. Further, the participants committed to accelerating investments in solar and wind energy, aiming to produce 1,000 GW of solar power and 150 GW of wind power from offshore platforms by 2030.