Daily News Wrap-Up: SJVN Bags a 100 MW Solar Project in Punjab
Nextracker surpasses 50 GW in global solar tracker equipment shipments
Here are some noteworthy cleantech announcements of the day from around the world:
SJVN has bagged a 100 MW grid-connected solar photovoltaic power project from Punjab State Power Corporation Ltd (PSPCL). The company has won the project through the tariff-based competitive bidding process on a build, own, and operate basis through e-reverse auction at a tariff of ₹2.69 (~$0.036)/kWh. The tentative cost of construction of this project is ₹5.45 billion (~$73.18 million). The project is expected to generate 245.28 MU in the first year, while the cumulative energy generation over 25 years would be around 5643.52 MU.
The U.S. power generation group AES Corp has signed a 15-year agreement to provide round-the-clock renewable energy to Microsoft’s data centers in Virginia. The agreement involves existing renewable projects under a long-term contract and additional renewable resources in the region. The 24X7 zero-carbon electricity will come from a 576 MW portfolio, including wind, solar, and battery energy storage assets in the PJM market. The deal supports Microsoft’s commitment to have 100% of its electricity consumption, 100% of the time, matched by zero-carbon energy purchases by 2030.
Singapore-based solar developer Cleantech Solar announced that Siemens Limited had executed an agreement to purchase power from a solar plant developed by Cleantech Solar’s special purpose vehicle called Sunsole. Siemens also agreed to subscribe to 26% of the paid-up equity share capital of Sunsole Renewables. Sunsole undertakes the solar power plant’s construction, operation, and maintenance and supplies the power generated on a captive basis. Siemens will procure renewable energy to reduce its carbon footprint for its manufacturing facility in Maharashtra.
BELECTRIC has commissioned a 250 MW solar power project in Rajasthan, India. Around 40% of large-scale solar project is equipped with bifacial modules. To clean the modules, an automatic waterless cleaning system is installed. In addition, BELECTRIC has built a 33/220 kV substation for electricity transmission within the boundaries of the solar project.
Adani Electricity announced that it will fulfill over 30% of Mumbai’s power requirements through renewable energy sources, which would be scaled up to 60% by 2027. This will offset up to ~16% of Mumbai’s total GHG emissions. A Green Tariff has been rolled out wherein consumers can opt for supply from Renewable Energy sources. Adani is also offering a subsidy of up to 40% to promote solar rooftop installations. More than 30,000 consumers have opted for these initiatives mitigating the equivalent of more than 26,000 tons of carbon dioxide annually, equivalent to planting ~850,000 trees. Moreover, Adani Electricity is planting one sapling on behalf of every consumer who opts for paperless bills.
Kotak Special Situations Fund will invest up to ₹10 billion (~$135 million) in Sify Infinit Spaces Limited, a 100% subsidiary of Sify. Under the transaction, the Kotak investment will be in the form of Compulsorily Convertible Debentures, which will convert into equity based on the operational performance of Sify over a specified reference period. The funds would be used to invest in Sify‘s plan under execution of developing new data centers in Mumbai, Noida, Chennai, Bangalore, and Hyderabad and for investment in renewable energy requirements for its operational and new data centers for up to ₹40 billion (~$530 million).