Daily News Wrap-Up: SJVN to Form Renewable Energy Subsidiary
Sungrow and Super Energy to build a battery energy storage system project in Thailand
Here are some noteworthy cleantech announcements of the day from around the world:
SJVN has approved forming a 100% subsidiary company to develop renewable energy, small hydro, and green hydrogen projects. SJVN will contribute initial equity of ₹500 million (~$ 6.71 million) to the subsidiary company. It has also inked a pact with Noida-based Solarworld Energy Solutions to develop a 75 MW solar power project at the Parasan Solar Park in Uttar Pradesh for ₹3.14 billion (~$42.18 million). The project will generate 168.34 MU of energy annually with a capacity utilization factor of 25.0%.
Solar inverter manufacturer Sungrow has tied up with independent power producer Super Energy to build a battery energy storage system (BESS) project in Thailand. Sungrow will supply the photovoltaic PV plus BESS solution, comprising 49.01 MW PV inverter solutions and 45 MW/136.24 MWh BESS. This project will begin commercial operation in December 2022. The project aims to provide constant clean electricity and improve the nation’s grid stability. The project’s completion also opens a new phase for Sungrow’s long-term strategic progress in Southeast Asia’s solar and energy storage field.
Mumbai-based engineering procurement construction (EPC) firm Oriano Solar has commissioned a 26 MW solar park at 110 kV in Raichur, Karnataka. The project has been commissioned under the group captive open access mechanism. Oriano is developing solar parks in Maharashtra (100 MW), Karnataka (125 MW), Tamil Nadu(50 MW), and Chhattisgarh (70 MW). Oriano is also working on a wind-solar hybrid project in Karnataka. The company is constructing 150+ MW of multiple projects in Chhattisgarh under the captive open access model.
PTC India Financial Services (PFS) has selected Resurgent Power Ventures as its nominee to acquire 100% shareholding in NRSS XXXVI Transmission Limited’s power transmission project. Tata Power owns 26% of Resurgent, while ICICI Bank and Power Platform and Kuwait Investment Authority hold 74%. NRSS XXXVI was incorporated as a special purpose vehicle to establish and operate the transmission system in the Northern Region (NRSS-XXXVI) and line-in and line-out (LILO) Sikar-Neemrana 400kV D/C line on a build-own-operate-maintain basis. Resurgent will invest equity and raise debt at an enterprise value of to implement the projects.