Daily News Wrap-Up: Solar Project with Energy Storage Coming Up in Mozambique
Power distribution company India Power reports procuring 12.1% of its power requirement from renewable energy in FY21
June 15, 2021
Here are some noteworthy cleantech announcements of the day from around the world:
Africa-based independent power producer Globeleq and its project partners, Source Energia and Electricidade de Moçambique (EDM), have begun construction of the 19 MW Cuamba Solar photovoltaic project and a 2 MW energy storage system. The $32 million project is located in the Tetereane district in Cuamba, Niassa province. Electricity will be sold through a 25-year power purchase agreement. The project is expected to receive $19 million in debt funding from The Emerging Africa Infrastructure Fund, a Private Infrastructure Development Group member. The project will also receive $7 million in grant funding from the development group’s viability gap funding facility and a $1 million grant from CDC Plus.
Cleantech Solar has commissioned a rooftop solar system for Kotra Pharma, a Malaysian pharmaceutical company with its research and manufacturing hub located in Melaka. The 600 kW solar system retrofitted on the facility is expected to generate about 790 MWh of electricity in the first year. The solar project was awarded to Cleantech Solar under a long-term power purchase agreement where Cleantech Solar would be responsible for funding, building, operating, and maintaining the system across the term of the agreement.
Electrical service provider company Srex Power has won the bid to construct 400 kV substations at four different cities (Imphal, Bongaigaon, Sitamarhi, and Surjamaninagar) in India. The projects will be built at an estimated cost of ₹581 million (~$7.93 million). Srex Power India Renewable arm has also bagged another order for a project valued over ₹224 million (~$3.06 million). The order is to construct a greenfield 220 kV substation for a 300 MW solar project being developed by ENEL Green Energy in Bikaner, Rajasthan.
India Power, a power distribution company in Kolkata, has reported a profit after tax of ₹266.5 million (~$3.64 million) in the financial year (FY) 2020-21 as compared to ₹166.9 million (~$2.29 million) a year earlier, registering a growth of 60%. India Power’s customer base expanded by 52%. The company’s sales increased by 2 million units in FY21 despite the impact of pandemic and lockdown during the first two quarters of the financial year. Total income for the year was at ₹5.184 billion (~$70.77 million). India Power purchased 12.1% of its power requirement from renewable energy in FY21 and plans to increase it to 35% by FY 2022-23.
Srinwanti is a copy editor at Mercom India, where she writes and edits news stories across the clean energy spectrum. Prior to Mercom, she has worked in book publishing at Macmillan Publishing House and Integra and honed her editorial and writing skills in both online and print media such as Reuters, Times Group Books, The Times of India, and Pune Mirror, covering local to international stories. More articles from Srinwanti Das.