Daily News Wrap-Up: ITI’s Tender for 720,000 Multicrystalline Solar Cells

DISCOMs sidestep developers, approach the Commission directly to amend PPAs

June 15, 2023


ITI Limited, a public sector undertaking under the Department of Telecommunications, has floated a tender for the sale of 720,000 five-busbar cut multicrystalline solar cells. The last date to submit bids is June 26, 2023. Bids will be opened on the same day. Bidders are not required to submit any earnest money deposit to participate in the tender. The successful bidder, however, must furnish an amount equivalent to 10% of the bid value as a security deposit immediately upon confirmation by ITI.

The Southern Power Distribution Company of Telangana and the Northern Power Distribution Company of Telangana have filed a petition with the Telangana State Electricity Regulatory Commission seeking its approval to amend the power purchase agreements (PPA) to shift the billing cycle for renewable energy projects from 24th and 25th of each month to 1st of the calendar month. Telangana DISCOMs have taken the unusual route of approaching the Commission directly for the change in PPA terms without first consulting the project developers.

Spain-based wind turbine maker Siemens Gamesa received the approval of a capital reduction for the remaining 2.21% of shares not held by Siemens Energy by the minority shareholders, leading to the full integration of the company. An overwhelming majority of 98.21% of the minority shareholders, in person or through proxies (38.88%), voted in favor of the capital reduction. The approval was contingent on a minimum presence of 25% of the minority shareholders, with a required approval rate of at least two-thirds.

The U.S. Department of Energy has announced over $192 million in new funding for recycling batteries from consumer products, launching an advanced battery research and development consortium, and continuing the Lithium-ion Battery Recycling Prize. The funds will support the administration’s target to have electric vehicles make up for half of all vehicle sales in the country by 2030.

Serbia-headquartered renewable energy developer CWP Global and Copenhagen Infrastructure Partners (CIP) have successfully concluded a strategic investment deal under which CIP, through its Energy Transition Fund I, has acquired a 26.67% stake in CWP’s development platform within the green hydrogen sector. This investment presents an opportunity for CIP to participate in CWP’s globally expanding ultra-large-scale green hydrogen pipeline with 220 GW capacity across Africa, Australia, and the Americas.

Solar wafer manufacturer CubicPV received firm equity commitments exceeding $100 million to support the company’s plans to establish a factory in the United States and advance its tandem product roadmap. The funding will be divided into two tranches, with the initial tranche of $33 million being made available immediately. The release of the second tranche of investment will be tied to achieving specific project milestones.