Daily News Wrap-Up: RECPDCL’s Tender for 223 MW Solar Projects

SJVN Green Energy invites bids to source land for 200 MW solar projects in Assam

April 22, 2024


REC Power Development and Consultancy has floated a tender to set up 223 MW Inter-State Transmission System-connected solar power projects anywhere in India. The projects will be developed under the program for flexibility in generating and scheduling thermal or hydropower stations through bundling with renewable energy and storage. The last date for the submission of bids is May 13, 2024. Bids will be opened on May 16. Bidders can set up the cumulative project capacity at a single location or sub-divided into several blocks of 5 MW or higher.

SJVN Green Energy, a wholly owned subsidiary of SJVN, has invited bids for the outright purchase or lease of up to 800 acres of land for 28 years with all statutory clearances to set up solar power projects of 200 MW capacity in Assam. The last date for the submission of bids is May 10, 2024. Bids will be opened on the same day. Bidders have to pay ₹5,000 (~$59.86) + 18% GST as cost of the tender document. They can propose multiple land parcels, totaling a maximum of 1,200 acres, with each connected parcel being either 200 acres or multiples thereof, up to 800 acres.

Avaada Energy has closed a ₹44.71 billion (~$535.3 million) refinancing deal with the National Bank for Financing Infrastructure and Development (NaBFID) for four inter-state transmission system-connected solar projects with a combined capacity of 1.7 GW in Rajasthan. The financing from NaBFID, a specialized government-owned development finance institution, will enable the prepayment of existing loans and offer a successful exit to multiple lenders. The facility will be approved and disbursed as a 20-year rupee term loan facility.

According to the Clean Energy Council, Australia added 5.9 GW of renewable capacity to the grid in 2023, up from 5 GW in 2022. Rooftop solar contributed 3.1 GW, while utility-scale projects added 2.8 GW. This marked an increase from 2022, when rooftop solar provided 2.7 GW, and utility-scale projects contributed 2.3 GW. The share of renewable energy in Australia’s total electricity generation also grew, reaching 39.4% in 2023, up from 35.9% in 2022. As of December 2023, 56 renewable energy generation projects were under construction, down from 72 in 2022.

Ecozen, a Pune-based startup focused on clean technology solutions for agriculture, has raised $30 million in a new funding round to accelerate its growth and global expansion. The investment includes equity from existing investors like Nuveen as well as new debt financing from the InCred Credit Fund and the U.S. International Development Finance Corporation (DFC). The capital will allow Ecozen to scale up production of its solar-powered systems for agricultural irrigation and cold chain solutions, the company said in a press release.