Daily News Wrap-Up: SJVN, PTC Sign Agreement to Supply RTC Renewable Power
JSW decides to reorganize its renewable and thermal Businesses
Here are some noteworthy cleantech announcements of the day from around the world
SJVN Limited has signed a pact with PTC India to develop products for supplying round-the-clock renewable energy. SJVN is a joint venture between the Government of India and the Government of Himachal Pradesh. PTC will also provide the market information regarding the availability of the merchant power capacity from various sources under the pact. In addition to this, PTC will study, explore, prepare and submit a detailed report regarding the supply of power from proposed renewable energy projects of SJVN to potential beneficiaries across India. The two companies will jointly develop products for renewable power supply from SJVN’s projects bundled with available market capacity.
JSW Energy has decided to reorganize the company’s renewable and thermal businesses. JSW Energy Neo, a wholly-owned subsidiary, will hold all existing and upcoming renewable energy businesses. This bifurcation will help the JSW build and stream its renewable portfolio. JSW Neo Energy will be the vehicle for JSW Energy to drive the company’s growth plans in renewable energy across generation, energy storage, and green hydrogen sectors. JSW Energy has set a target for a 50% reduction in carbon footprint by 2030 and achieving carbon neutrality by 2050.
Convergence Energy Services Limited, a wholly-owned subsidiary of Energy Efficiency Services Limited, has signed a letter of association with the Indian Institute of Technology Bombay to implement an electric vehicle (EV) charging infrastructure across the country. They would collaborate on technical advancements in the EV charging domain by developing flagship products, standardization of technical specifications, solutions for meeting EV charging capabilities, and customized solutions for the Indian EV charging ecosystem.
LED lights and solar products manufacturer Servotech Power Systems has bagged an off-grid solar PV project order from Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA). Servotech will supply, erect, test, and commission the off-grid solar PV power plant at different government offices buildings in Uttar Pradesh. The total value of the project is ₹372 million. The project’s execution is scheduled to begin in the first week of December 2021. The project is expected to be commissioned by March 2022.
The European Investment Bank (EIB) has granted Nexans a €200 million (~$225.65 million) loan facility to accelerate its active role in the world’s energy transition and commitment to contribute to carbon neutrality by 2030. The loan covers financing of research and development activities and new product developments, investments aiming at increasing digital facilities, and energy efficiency transformation.
Harsh Shukla is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.