Daily News Wrap-Up: Jharkhand’s Consultancy Tender for 600 MW Floating Solar Project
Biden vetoes legislation to block solar module import tariff waivers
May 18, 2023
Jharkhand Renewable Energy Development Agency has invited bids from consultants to conduct a bathymetry survey and soil test report to develop a 600 MW floating solar power project at Chandil Dam in Jharkhand. The project’s estimated cost is ₹20 million (~$242,885). The report must be submitted within a month of receiving the work order. The last day to submit the bids is May 22, 2023. The bids will be opened on May 24.
United States President Joe Biden has vetoed a resolution that would halt a Commerce Department rule temporarily suspending tariffs on solar modules imported from Cambodia, Malaysia, Thailand, and Vietnam. The result of Biden’s veto is that a two-year delay on tariffs will continue until at least June 2024. The presidential veto can, however, be overridden by a two-thirds vote in both the Senate and the House.
Almost 90% of greenfield projects from conception choose robotic cleaning. For brownfield projects, nearly 40% of the capacity for cleaning panels with water is now transitioning to robotic cleaning by retrofitting the portfolio, said Nalin Kumar Sharma, President, Asia, Middle East & Pacific, Ecoppia, on the sidelines of Mercom India Renewable Summit 2023. In the case of manual cleaning, where you cannot clean every day, there is significant generation loss, whereas robotic cleaning helps clean modules every night. So, the generation is typically between 2% and 5% higher compared to a 15-day manual cycle, he added.
Lenders are more receptive to funding renewable transactions encouraging corporates striving towards a carbon-neutral environment and adding value to their brands, Hitesh Paliwal, Senior VP & Zonal Head, North Zone Corporate Banking Group at SBI said on the sidelines of the Mercom India Renewables Summit 2023. Paliwal added that even though we are in the early stages of the journey toward renewable targets, we are progressing in the right direction, and the sectors will mature down the line.
The Ministry of Finance has invited bids to select an advertising agency for listing and partial disinvestment of the Union government’s shareholding in the Indian Renewable Energy Development Agency through an initial public offer and raise funds through the issue of fresh equity shares in the domestic market. The last date to submit the bids is June 9, 2023. Bids will be opened on June 12.
The U.S. Department of Agriculture (USDA) announced nearly $11 billion in funding to help bring affordable renewable energy to rural communities nationwide. One of the two programs eligible for the funding is Empowering Rural America program. Operated by USDA, it will launch a letter of interest process to offer eligible rural electric cooperatives $9.7 billion in funding. USDA will also launch a letter of interest process for the second program Powering Affordable Clean Energy program. It offers $1 billion in partially forgivable loans to various renewable-energy developers and electric service providers.
Energy storage solutions provider Eos Energy Enterprises’ net loss widened to $71.6 million for the first quarter of the financial year 2023 compared to $45.8 million year-over-year (YoY), mainly due to higher interest and other expenses even though the cost of goods came down by a quarter. The cost of goods sold during the January-March quarter totaled $26.9 million, a 25% reduction in per unit cost from $35.6 million YoY.
Solid Power, which develops all-solid-state battery technology for electric vehicles, said its Q1 net loss widened to $19.2 million in the first quarter of 2023 compared to the loss of $10.3 million YoY, primarily due to higher research and development expenses. Solid Power’s total operating expenses for the January-March quarter rose 57% YoY to $25.1 million. Solid Power’s revenue grew by 81% YoY to $3.8 million for the quarter, mainly on execution under the company’s joint development agreements.
Mercom India has returned with the second clean energy meet of its conference series C&I Clean Energy Meet 2023, at Navi Mumbai. The sessions will provide C&I entities with insights into the advantages of incorporating renewable sources into their energy portfolio. The event will be held at the Hotel Ramada in Navi Mumbai, Maharashtra, on May 18, 2023. The sessions will cover topics on clean energy options and technologies, the viability of rooftop solar installations, financing solutions, and procuring open access at cheaper rates.
A committee of experts constituted by the Ministry of Power has noted that the electricity market in India faces significant challenges that hinder the integration of renewable energy and limit the participation of distribution companies (DISCOMs) in power exchanges. The group stated that the reliance on inflexible, long-duration contracts by DISCOMs has restricted their engagement in power exchanges, hindering the growth of renewable energy. Moreover, the current planning practices of DISCOMs need to be revised for systems with high levels of variable renewable energy, necessitating resource adequacy planning and market-based economic dispatch.