Daily News Wrap-Up: NHPC’s Tender for 3 GW of ISTS-Connected Solar Projects

Vikram Solar led JV to invest $1.5 billion in solar manufacturing units in the US

June 26, 2023


NHPC has invited bids to select developers for setting up 3,000 MW of interstate transmission system-connected solar power projects across the country. The bidders must submit bids for a minimum capacity of 50 MW and multiples of 10 MW thereafter. A bidder can offer to develop projects at multiple locations, with each project having a minimum capacity of 50 MW and the cumulative capacity offered not exceeding 1,000 MW. The last date to submit the bids online is August 3, 2023. Bids will be opened on August 11.

Solar module manufacturer and EPC solutions provider Vikram Solar and renewable energy investors Phalanx Impact Partners and Das & Co. have announced the formation of a new joint venture called VSK Energy, which will invest up to $1.5 billion in developing vertically integrated solar manufacturing operations in the U.S. The strategic partnership combines Vikram Solar’s manufacturing experience with the financial support of sustainability-focused private equity firm Phalanx Impact Partners and Das & Co.’s extensive network and expertise in the solar industry.

The Ministry of Power has amended the standard bidding documents for procuring interstate transmission systems (ISTS) through a tariff-based competitive bidding process to include technical requirements concerning the high voltage (HV)dc and HVac systems. The Ministry said there was no mention of technical requirements regarding the HVdc and HVac systems in the standard bidding documents issued previously on August 13, 2021.

The European Commission has approved Hungary’s €1.1 billion (~$1.2 billion) program to support electricity storage facilities, aiming to accelerate the country’s transition into a net-zero economy. Under the program, Hungary plans to install a minimum of 800 MW/1,600 MWh of new electricity storage facilities, enhancing the flexibility of its electricity-generating system. The support will facilitate the seamless integration of a high capacity of variable renewable energy sources into the grid.

The Government of the Republic of Serbia and its Ministry of Mining and Energy have invited bids from renewable energy producers to develop 400 MW of wind and 50 MW of solar projects and help set market premiums. A market premium is an incentive for generating electricity through which the state protects the producers from changes in market prices. The producers, once selected, will have to pay the state only the difference between the price offered at auction and the market price. If the market prices are higher than the price offered by the producer at the auction, the producer will pay the difference to the state.

Researchers at the National University of Singapore have attained a record efficiency of 24.35% in an inverted-structure perovskite solar cell which marks the first time such a high efficiency has been achieved in a perovskite solar cell with a 1 cm2 active area. The notable success can be primarily attributed to the incorporation of an inventive charge-transporting material within the cells. The team said the achievement sets a new benchmark for the efficiency of perovskite solar cells and offers promising prospects for cheaper, more efficient, and durable solar energy solutions.