Daily News Wrap-Up: NTE Energy Plans to Develop 5 GW of Clean Energy Projects

KPI Global has signed 20-year power purchase agreements with several industrial consumers for 13.15 MW of renewable capacity


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

NTE Energy, a U.S.-based renewable energy company, has unveiled its plans to develop 5 GW of clean energy projects over the next five years across the U.S. The company is currently working with investment partners to advance the development of a clean energy project pipeline that includes 1.2 GW of solar and 3.9 GW of battery energy storage systems, with 3 GW to 4 GW expected to reach commercial operation by 2026.

Sunseap Group, a Singapore-based solar energy provider, has signed a 20-year power purchase agreement with Vietnam Electricity to supply clean energy to the country’s national grid. The company will generate solar energy from its seven newly commissioned solar projects in Vietnam. The projects, with a total capacity of 23.2 MW, are expected to generate 40.42 GWh of clean energy while reducing 20,500 tons of carbon dioxide annually.

KPI Global has signed 20-year power purchase agreements with several industrial consumers for 13.15 MW of renewable capacity. The list of consumers includes Cadila Healthcare, Ginni Filaments, Pratibha Fabrics, Palsana Enviro Protection, Sachin Paper Mills, United Phosphorous, Yes Fashions, and Super Delux Paper Mills.

Virescent Renewable Energy Trust (VRET), the infrastructure investment trust (InvIT) proposed to be launched by KKR-backed Indian renewable energy platform Virescent Infrastructure, has received  ‘AAA/Stable’ provisional rating for its bank loan facilities from CRISIL, an S&P company. The proposed Virescent InvIT is awaiting final approval from the market regulator Securities and Exchange Board of India. VRET’s initial portfolio will comprise nine solar energy projects with a total capacity of around 400 MW. The assets are located in Maharashtra, Tamil Nadu, Uttar Pradesh, Gujarat, and Rajasthan. VRET aims to achieve around 1.5 GW of renewable capacity in the initial phase of its growth over the next two to three years.

Here is our previous daily news wrap-up.

Harsh Shukla is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.

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