Daily News Wrap-Up: Haryana’s Green Open Access Regulations

The government designates SJVN as the agency to float renewable energy tenders

April 27, 2023


Consumers in Haryana with a contracted demand or sanctioned load of at least 100 kW will be eligible for Green Energy Open Access, with no limit on the power supply for captive consumers, according to the state’s Green Energy Open Access Regulations, 2023. The Haryana Electricity Regulatory Commission recently issued the regulations in line with the Union government’s green energy open access rules introduced last year. To be eligible, consumers must commit to a minimum of twelve time blocks of 15-minute intervals per day and cannot change the amount of power consumed during open access.

The Ministry of New and Renewable Energy (MNRE) has designated SJVN Limited as the implementing agency responsible for floating tenders for renewable energy projects. It will also act as the intermediary procurer of power. SJVN will work with other agencies, such as SECI, NTPC, and NHPC, to float tenders and open bids to avoid concurrent bids. SJVN will also ensure that tenders will be floated according to standard bidding guidelines issued by the government and MNRE’s instructions for renewable energy tenders.

Mercom India announced the awards under eleven categories at the ‘Mercom India Renewables Summit 2023, held on April 26, 2023, recognizing the exceptional work of the organizations contributing to India’s clean energy industry and helping drive the country forward in its energy transition. The awards highlighted the remarkable achievements of organizations and individuals who have helped accelerate India’s environmental goals and grow local economies through innovation, leadership, and the advancement of renewable energy across the country. The awards focused on each project’s uniqueness, challenges, and complexities and their economic, environmental, and social impact.

Avaada Group has raised $1.07 billion from Brookfield Renewable to support its green hydrogen and green ammonia projects in India. The funding is part of the company’s ongoing plan to raise $1.3 billion. The funding will be made from the Brookfield Global Transition Fund. To support its growth and release debt obligations, Avaada will receive an additional investment of $68 million from Global Power Synergy Public Company Limited. The company is also in advanced talks with potential investors to secure an additional $200 million in funding.

Government-owned lender Indian Renewable Energy Development Agency (IREDA) posted a profit of ₹2.54 billion (~$31 million) for the fourth quarter (Q3) of the financial year (FY) 2022-23, a jump of 12% year-over-year (YoY). The growth in profit is attributable to a sharp fall in IREDA’s non-performing assets, which have seen a decline to 1.66% in FY 2022-23 from 3.12% in FY 2021-22, which translates to a significant reduction of 47% in percentage terms on a year-on-year basis.

U.S.-based energy firm NextEra Energy posted a profit of $2.09 billion for the first quarter (Q1) of the financial year (FY) 2023 against a loss of $451 million in Q1 FY 2022. NextEra Energy is a holding company for a regulated retail utility (the combined Florida Power & Light (FPL) and Gulf Power that together have about six million customer accounts and an unregulated generation subsidiary, NextEra Energy Resources. FPL’s total owned and operated solar portfolio stood at 4,600 MW by the end of Q1. NextEra Energy Resources posted a profit of $1.44 billion for Q1 against a net loss of $1.5 billion in the same quarter a year ago.

Despite the growing domestic solar manufacturing capacity, acquiring the right technology, equipment, and skilled labor remains a challenge as India tries to secure its domestic supply chain. Ever since the pandemic, strengthening local supply chains and securing domestic manufacturing has been the priority for most sectors across the globe. At the ‘Mercom India Renewables Summit 2023’, an exclusive event on April 26-27 in New Delhi, industry experts got together to discuss critical issues, opportunities, and emerging trends in the industry. The ‘Domestic Manufacturing – Strengthening Local Supply Chains’ session on Day 1 covered demand and supply scenarios, opportunities, and challenges in backward integration and adoption of the latest technologies.

The targets for the renewables sector are formidable, but the good news is that the clean energy transition in India is already well and truly underway, albeit with the attendant challenges. One of the challenges the sector faces is policy instability. Frequent policy changes have the potential to destabilize the energy transition process. The overarching issues relating to the Indian renewables sector were discussed on the first day of the Mercom India Renewables Summit 2023, an exclusive event that is being held in New Delhi. The event started with a keynote by Raj Prabhu, CEO & Co-Founder at Mercom Capital Group.