Daily News Wrap-Up: Rays Power Infra Commissions 150 MW Solar Project in Karnataka
JSW Neo Energy to acquire RE portfolio from Mytrah Energy for $1.33 billion
Here are some noteworthy cleantech announcements of the day from around the world:
Rays Power Infra announced the commissioning of a 150 MW grid-connected solar power plant in Raichur and Koppal, Karnataka. This project is expected to reduce approximately 156,400 tons of CO2 and produce 240 GW of green energy annually. Rays Power Infra’s in-house EPC team has executed the project within the scheduled time frame. Rays Power Infra provided end-to-end services, from securing the land and connectivity, signing bilateral power purchase agreements with the C&I consumers, designing the system, procuring construction components, to commissioning the project.
JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, agreed to acquire a portfolio of 1,753 MW of renewable energy generation capacity from Mytrah Energy (India) for ₹105.31 billion (~$1.33 billion). The acquisition comprises 17 special purpose vehicles (SPVs) and one ancillary SPV. The necessary definitive agreements have been signed between the parties, and the transaction is subject to receipt of the necessary regulatory and other customary approvals. Upon consummation of the transaction, the 18 subsidiaries of Mytrah Energy India would become subsidiaries of JSW Neo Energy and step-down subsidiaries of the company. The transaction is expected to be completed by November 15, 2022, subject to fulfillment of conditions precedent set out in the sales purchase agreement. Mercom had previously reported on the deal when it was in its initial stages.
NLC India signed a memorandum of understanding with Assam Power Distribution Company to form a joint venture company with equity participation of 51% by NLC India and 49% by Assam Power Distribution Company to develop 1000 MW of solar power project in Assam. The project aims to empower the citizens with the required energy while maintaining ecology with green energy sources. This initiative will develop Assam by providing employment opportunities, technical know-how, and the overall upliftment of the state.
Tata Power has partnered with JP Infra Mumbai, a Mumbai-based real estate developer, to install 60+ electric vehicle charging points across all JP Infra’s projects. The projects where the points will be installed are JP North Garden City (North Euphoria, North Alexa, North Aviva, Codename Dream Home), North Barcelona, and North Imperia. The installations aim to provide end-to-end EV charging solutions to residents to make sustainable mobility achievable. Residents with electric vehicles would have access to a 24×7 charging facility and can connect through the Tata Power EZ mobile application for all services, including remote vehicle charging monitoring and e-payments. The partnership will enable the residents to access a constant and universal EV charging experience.
Honda Power Pack Energy India (HEID), Honda Motor’s subsidiary for battery swap service, and Hindustan Petroleum Corporation (HPCL) announced the operation of the Honda e: swap service, which HEID operates at the HPCL petrol stations. HEID and HPCL signed a memorandum of understanding and commercial agreement to collaborate in the field of E-mobility in February 2022 and have affirmed the mutual commitment to developing its swap station network. HEID has already set up its battery exchanger – Honda Power Pack Exchanger e: at strategic locations among HPCL’s retail outlets in Bengaluru and started its operation initially for electric auto rickshaws, which applies to Honda Mobile Power Pack e:.
Godawari Power and Ispat has announced the commissioning of a 70 MW solar captive power plant at Rajnandgaon, Chhattisgarh. The power generated at the solar power plant would be consumed to meet the enhanced power requirement for an integrated steel plant to replace the high-cost power purchased from state DISCOM.
Image Credit: Rays Power Infra