Daily News Wrap-Up: SJVN Green Floats Tender for 1.4 GW of Solar Modules

SECI disburses ₹13.04 billion to solar, wind generators for energy purchased in September

November 2, 2023


SJVN Green Energy, a subsidiary of SJVN, invited bids for the manufacture and supply of solar photovoltaic modules of a total of 1.465 GW capacity for solar power projects to be installed in various states. The last date for the submission of bids is November 30, 2023. Bids will be opened the same day. Bidders have to submit ₹5900 (~$70.86) as the cost of the bid document. If bidders quote a combined capacity of 572 MW or more for a combination of projects, the total EMD will be ₹288.3 million (~$3.4 million).

The Solar Energy Corporation of India paid solar and wind power producers ₹13.04 billion (~$156.6 million) for the energy purchased in September 2023. The payment reflected an increase of 7% from the August disbursements. The disbursements increased by 46% on a year-over-year basis. In September, disbursements to solar and wind developers constituted 83.3% of the total payments made. The nodal agency disbursed a total of ₹15.26 billion (~$183.3 million)  during the month.

Prayagraj Division of North Central Railways invited bids for state-wise empanelment of agencies to implement grid-connected rooftop solar projects of 5.525 MW capacity at its yards and workshops through public-private partnership and on a design, build, finance, operate, and transfer basis. The projects must be commissioned within 240 days of receiving the work order. The developers must also provide comprehensive operation and maintenance services for 25 years. The last day to submit bids is November 21, 2023. Bids will be opened on the same day.

Renewable energy company Adani Green Energy generated a revenue of ₹19.84 billion (~$238.3 million) from the sale of energy in the second quarter (Q2) of the financial year (FY) 2024, an 80% year-over-year (YoY) increase from ₹11.05 billion (~$132.7 million). The company’s cash profit for Q2 FY24 stood at ₹10.31 billion (~$123.8 million), an increase of 72% YoY. The earnings before interest, taxes, depreciation, and amortization from the power supply for the July-September period was ₹18.35 billion (~$220.4 million), a YoY increase of 62%.

China-headquartered solar cell and module manufacturer Jinko Solar’s net income for the third quarter of 2023 amounted to RMB1.32 billion (~$181.4 million), a YoY increase of 140% from RMB549.8 million (~$75.5 million) on the back of increased module shipments. Total revenues for the quarter reached RMB31.83 billion (~$4.36 billion), a 63.1% YoY increase. Module shipments for the quarter reached over 21 GW, a 107.9% YoY increase. Since the third quarter, price declines within the supply chain have stimulated end demand.

E-commerce company Amazon now has 50 wind and solar projects across India and a cumulative 1.1 GW of renewable energy capacity, following its latest announcement of a new 198 MW wind project in Osmanabad, Maharashtra. The wind project is Amazon’s seventh utility-scale renewable energy project announced in India. The company has also announced a total of 43 rooftop solar projects, which are helping to power local Amazon facilities. The projects are targeted to generate the energy equivalent of powering more than 1.1 million homes in New Delhi annually.

The United States Department of Energy announced a $1.3 billion investment in three transmission lines, which will advance projects aimed at adding 3.5 GW of additional grid capacity and powering over three million homes. The DOE is entering into capacity contract negotiations with three interregional transmission line projects that are spread across Nevada’s Utah, New Mexico in Arizona and New Hampshire in Vermont.