Daily News Wrap-Up: KPI Global Signs PPA for 5.7 MW of Solar with Polycab India

Mitsubishi Corporation invests in Laos wind farm project; power from the wind farm is planned to be sold to Vietnam Electricity


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

KPI Global has signed a new long-term power purchase agreement with Polycab India Limited, Vadodara, for the sale of 5.70 MW solar power for their different units. The deal is for 20 years under the company’s independent power producer business vertical, KPI Global notified in a BSE filing. Earlier this year, the company had signed a long-term power purchase agreement with Rajputana Stainless for 3 MW of solar power for 20 years.

California-based Aemetis signed a biofuels offtake agreement with international renewable fuels supplier Murex. The estimated cost of low-carbon biofuels is $200 million. The project is to be delivered between 2021 and 2023. Through the pact, the companies aim to eliminate the use of petroleum natural gas in the plant as these upgraded projects are completed over the next 12 months. Aemetis is implementing energy efficiency upgrades to its Keyes biorefinery in California. Once the plant is converted from utilizing petroleum natural gas to renewable electricity, it is expected to produce the lowest carbon intensity ethanol, for which Murex will help expand market reach and diversification.

Solar module manufacturer JinkoSolar has signed a partnership agreement with China Electric Power Equipment and Technology Company (CET), a wholly-owned subsidiary of State Grid Corporation of China, to invest in solar energy for an off-grid photovoltaic (PV) project in Ethiopia. JinkoSolar supplied 1 MW of high-efficiency PV modules to CET for the project. This is the first off-grid PV project undertaken by CET overseas and the first such project in East Africa. The project is owned by the Ethiopian Power Distribution Company and funded by the World Bank, under the financial institute’s ‘Lighting Africa’ program.

Mitsubishi Corporation will invest in Impact Energy Asia Development Limited (IEAD), the developer of a 600 MW capacity onshore wind farm project in Laos. Mitsubishi will invest through an intermediate holding company together with a group company of Impact Electrons Siam in Thailand. The initiative is being executed through Diamond Generating Asia, Limited (DGA), MC’s wholly-owned subsidiary in Hong Kong. The wind farm will be the first in Laos and the largest in Southeast Asia. Power from the wind farm is planned to be sold to Vietnam Electricity, a state-owned electric power company in Vietnam, for 25 years.

Sterlite Power has secured debt funding of ₹5.8 billion (~$79.06 million) for a project set up by Udupi-Kasargode Transmission Project Limited. It has secured the entire debt funding from REC Limited. The project is an inter-state transmission system spanning across Udupi in Karnataka to Kasaragode in Kerala. The project involves the construction of a 400kV transmission line, extending over around 240 ckm.