Daily News Wrap-Up: SECI Signs PSAs for 5.28 GW of Renewables to Date in FY 2022

India invites Gulf nations to invest in sustainable energy sectors


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

The Solar Energy Corporation of India (SECI) has signed power sale agreements (PSA) to supply 5.28 GW of renewable energy until October 31, 2021, for the financial year (FY) 2021-22. The aggregate PSAs signed now stand at over 30 GW, i.e., a 95% year-over-year increase compared to FY 2021. According to SECI, these PSAs will enable the supply of up to 19 billion units of renewable power annually to eight states and union territories for 25 years.

India has invited the Gulf Cooperation Council (GCC) member countries to invest in the sustainable energy sectors in the country. Addressing the representatives of the GCC countries at  EXPO2020 Dubai, Foreign Ministry Joint Secretary Vipul said India had increased foreign direct investment limits along with opening up of the sectors like defense, telecom, and insurance. India is expected to attract foreign investments of up to $120-160 billion annually, and Gulf countries were best placed to exploit this opportunity. He said India would be having 500 GW of renewable energy by 2030, and GCC nations can capitalize on investments in sustainability technologies like renewable and hydrogen energy, electric vehicles, and health technology.

Adani Green Energy (AGEL) and Adani Transmission (ATL) have declared their Energy Compact Goals as part of COP26, primarily adhering to Sustainable Development Goal 7 (SDG 7).  AGEL has set a target of achieving 45 GW renewable energy capacity by 2030, with the average tariff below the average power purchase cost. It will invest $20 billion in renewable energy development over the next decade and develop a 2 GW per year solar manufacturing capacity by FY 2022-23. ATL is on course to increase the share of renewable power procurement from 3% to 30% by FY 2023 and 70% by FY 2030 through its utility subsidiary in Mumbai.

Portugal-based electric utility company EDP plans to produce 1.5 GW of electricity from renewable hydrogen by 2030. The goal was announced as part of the H2Zero commitment of the World Business Council for Sustainable Development (WBCSD) to accelerate the development of green hydrogen. The company said that these projects were aimed at regions with a favorable context for developing hydrogen projects, namely good solar and wind resources, support infrastructures, proximity to industrial clients, and a favorable regulatory environment. The company’s investment plan foresees converting old coal-fired thermoelectric plants into hydrogen centers and new production units. The newly announced ambition reinforces the goals of EDP’s strategic plan, which already envisaged investing in 250 MW of hydrogen electrolyzers capacity by 2025.

Union Minister for Petroleum and Natural Gas Shri Hardeep Singh Puri tweeted that government-owned oil companies would set up 22,000 EV charging stations in India. Indian Oil Corporation Limited (IOCL) will set up 10,000 stations. IOCL has already installed 439 EV charging stations and plans to install 2000 charging stations in its retail outlet network over the next year. Another 1,000 EV charging stations will be set up by Bharat Petroleum Corporation Limited (BPCL) within the next year and 7,000 overall. BPCL has already set up 52 stations. Hindustan Petroleum Corporation Limited, which has installed 382 EV charging stations, will set up 1,000 stations in the next year and 5,000 overall.


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