Daily News Wrap-Up: Red Sea Shipping Crisis Hits Solar Module Prices

SJVN Green signs power usage agreement for 300 MW solar project

February 28, 2024


Prices of solar modules shipped from Asia to Europe have jumped as much as 20% as trade disruptions in the Red Sea, which carries 12% of the world’s seaborne trade, have spiked freight costs. Since mid-November, heightened hostilities from Houthi militia targeting vessels passing through the Red Sea have resulted in swaths of merchant fleet avoiding the key trade route. The Red Sea connects to the Suez Canal—the shortest sea route between Asia and Europe.

SJVN Green Energy, the wholly owned subsidiary of SJVN, has entered into a power usage agreement with Jammu and Kashmir Power Corporation Limited for 300 MW solar power capacity. The 300 MW of power will be supplied to JKPCL from the 1,000 MW Bikaner solar project being developed under the Central Public Sector Undertaking program of the India Renewable Energy Development Agency at a cost of ₹54.91 billion (~$662.3 million).

The Telangana State Renewable Energy Development Corporation has invited bids to set up two on-grid ground-mounted solar power projects with a cumulative capacity of 1,000 kW under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan Yojana in Telangana. The scope of work includes design, supply, installation, and commissioning, using mono-PERC solar modules with sprinkler or water jet system and pipelining for module cleaning, and comprehensive maintenance for ten years.

The Agriculture Department of Ratnagiri Zilla Parishad has invited bids to set up a 1 MW ground-mounted solar power project in Vervelli village in Maharashtra. The estimated cost of the solar project is ₹66.3 million (~$799,759), which is inclusive of the total system cost and its installation, commissioning, transportation, insurance, comprehensive maintenance contract for five years, and fees and taxes.

Scientists at the U.S. National Renewable Energy Laboratory have developed a new manufacturing process called BatMan that could improve electric vehicle (EV) batteries by making them charge faster and drive further. The new technology uses lasers to create small pore networks in battery electrodes. This allows ions to move through the battery more quickly during charging and discharging, resulting in faster charge times.