Daily News Wrap-Up: Servotech Bags 4 MW Rooftop Solar Project in Uttar Pradesh
KPI Green Energy to develop a 16.10 MW hybrid project in Gujarat
September 6, 2022
Here are some noteworthy cleantech announcements of the day from around the world:
Servotech Power Systems bagged a large-scale, state-spanning grid-interactive rooftop solar power project from the Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA). The project involves building 4.1 MW of solar power plants across the state. The project’s contract value is approximately ₹235 million (~$2.94 million). It will be completed within four months from the date of awarding the project. The project sites in Uttar Pradesh would cover secondary school buildings.
O2 Power has signed a memorandum of understanding with the government of Rajasthan to develop renewable energy projects (including solar, wind, green hydrogen, and green ammonia) with an investment of ₹250 billion (~$3.13 billion). O2 Power already has a 335 MW commissioned solar project in Jaisalmer and an under-construction portfolio of approximately 1 GW in Rajasthan.
KPI Green Energy announced that it was developing a hybrid power project of 16.10 MW capacity (comprising 16.10 MW of wind and 10 MWdc of solar capacity) at the Bhungar site in the Bhavnagar district of Gujarat. The project is being developed under the Gujarat Hybrid Policy, 2018. The company has already achieved financial closure to the tune of ₹1.32 billion (~$16.54 million) from the State Bank of India. The project is expected to be commissioned in March 2023.
Masdar, a renewable energy company, announced that it had achieved financial closure on the 500 MW Zarafshan wind project – Uzbekistan’s first utility-scale wind farm. The Zarafshan wind farm is expected to begin commercial operation by the end of 2024. It would provide enough electricity to power 500,000 homes while displacing 1.1 million tonnes of carbon dioxide annually. Masdar signed the power purchase agreement and investment agreement for the Zarafshan wind farm with Uzbekistan’s Ministry of Investments and Foreign Trade and JSC National Electric Grid of Uzbekistan in June 2020. The project is expected to attract more than $600 million in foreign direct investment. It is part of Uzbekistan’s effort to meet 25% of its electricity needs from renewable sources by the end of the decade.