Daily News Wrap-up: Tata Power’s 37 Commercial Consumers Opt for Green Power in Mumbai
Green Hydrogen Systems plans for IPO
Here are some noteworthy cleantech announcements of the day from around the world:
Tata Power announced that over 37 of its commercial customers with consumption of more than 19 MUs have opted for ‘Green Power,’ including some of the leading IT firms, banks, and consumer business groups in Mumbai. In line with its commitment and basis of the permission granted by the MERC to provide 100 % ‘Green Power’ in March 2021, Tata Power initiated the process of empowering its customers with sustainable ‘Green’ growth from April 2021.
Green Hydrogen Systems has published a prospectus and offer price for its intended Initial Public Offering and subsequent admission to trading and official listing of its shares on Nasdaq Copenhagen. The announcement, prospectus, and retail brochure can be found on their investor page.
France-based smart battery systems provider Forsee Power has started battery production for electric two and three-wheelers in India. The Group partners with original equipment manufacturers (OEMs) in its two flagship markets: the two and three-wheelers and buses. The serial production of batteries for light electric vehicles in Forsee Power’s factory in Pune started on May 12, 2021. The Indian production capacity is expected to progressively reach 1 GWh in 2025.
AGL, together with the Australian energy technology group, RayGen, has begun construction of a $27 million concentrated solar and thermal storage project set to be one of Australia’s largest, most innovative, and lowest-cost renewable energy storage projects. The first stage will be located at Carwarp in Victoria, and the second stage is planned for the Liddell power station site in NSW. AGL Interim Managing Director and CEO Graeme Hunt said AGL would be working on this innovative project that uses a combination of solar and hydro technology, which will help deliver the next generation of energy supply.
South Korea’s Global Green Growth Institute (GGGI) will support developing a 250 MW solar PV plant for Maharashtra State Road Development Corporation (MSRDC). For project implementation, MSRDC has incorporated a company named ‘Mahasamruddhi Renewable Energy Limited’ in September 2020. MSRDC is planning to issue an EPC tender and implement the project to realize their initiative of e-mobility. The project will wheel renewable power for all future e-mobility requirements of the highway. GGGI supports MSRDC’s greening agenda by facilitating the design and debt availability for 250 MW of solar projects.
The Asian Development Bank (ADB) signed a $116 million green loan with Lien Lap Wind Power Joint Stock Company (Lien Lap), Phong Huy Wind Power Joint Stock Company (Phong Huy), and Phong Nguyen Wind Power Joint Stock Company (Phong Nguyen) to build and operate three 48-megawatt (MW) wind farms, totaling 144 MW, in Quang Tri Province, Vietnam. The project will increase Vietnam’s wind power capacity by 30%, helping the country meet the rapidly growing demand for energy. Lien Lap, Phong Huy, and Phong Nguyen are owned by Power Construction Joint Stock Company No.1 (PCC1) and RENOVA, Inc.
Rahul is a staff reporter at Mercom India. Before entering the world of renewables, Rahul was head of the Gujarat bureau for The Quint. He has also worked for DNA Ahmedabad and Ahmedabad Mirror. Hailing from a banking and finance background, Rahul has also worked for JP Morgan Chase and State Bank of India. More articles from Rahul Nair.