Daily News Wrap-Up: NTPC’s 1.5 GW Wind-Solar Hybrid Auction Results

MAHAGENCO floats tender for 50 MW of solar projects

March 14, 2024


ABC Cleantech (Axis Energy), Juniper Green Energy, ACME Cleantech Solutions, and ReNew Solar Power (ReNew) were declared winners in NTPC’s auction for the supply of 1.5 GW of power from inter-state transmission system connected wind-solar hybrid power projects anywhere in India under Tranche IV. The projects are to be developed with or without the associated energy storage system. ABC Cleantech quoted the lowest tariff of ₹3.27 (~$0.0395)/kWh to win the highest awarded capacity of 750 MW.

The Maharashtra State Power Generation Company has issued a tender to set up two grid-connected solar power projects totaling 50 MW capacity using crystalline silicon technology to help the DISCOM meet its renewable purchase obligation targets. The projects of 25 MW each will be established in the villages of Malkhed and Mangladevi in the Yavatmal district. The last date for submitting bids is April 26, 2024. Bids will be opened the same day. The first project is situated in Malkhed, covering an area of 47.26 hectares. The second project is in Mangladevi, covering 50.75 hectares.

Uttar Haryana Bijli Vitran Nigam has invited bids for the design, engineering, procurement, supply, construction, erection, testing, and commissioning of 5.01 MW solar power projects under Component C of the PM-KUSUM program in Haryana. The project capacity is spread across Sonipat, Yamuna Nagar, Kurukshetra, Kaithal and Panipat. The scope of work includes associated 33 kV or 11 kV lines, remote monitoring systems , and operation and maintenance for five years for the grid-connected ground-mounted solar projects. The last date for the submission of bids is April 4, 2024.

Larsen and Toubro (L&T) has won the engineering procurement and construction contract for the Solar Energy Corporation of India’s 100 MW floating solar power project to be set up at Getalsud Dam in Ranchi, Jharkhand. The scope of work will include the design, engineering, supply, construction, erection, testing, and commissioning of the project. The company will also be responsible for the operation and maintenance for five years. L&T quoted a total contract price of ₹6.06 billion (~$73.13 million) to win the contract.

The Maharashtra State Power Generation Company has invited bids to undertake the design, engineering, manufacturing, supply, erection, testing, and commissioning of two crystalline technology-based grid interactive solar power projects of 20 MW each. The scope of work includes the associated power evacuation arrangement and a five-year operation and maintenance commitment. The developers must deploy dry cleaning methods for the solar projects. The last date for submitting bids is April 24, 2024. Bids will be opened on April 26.

India installed 2.8 GW of new wind energy capacity in 2023, a ~56% surge from 1.8 GW in 2022. The cumulative wind capacity as of December 2023 stood at 44.7 GW, compared to 41.9 GW at the end of 2022. In the fourth quarter (Q4) of 2023, India added 552 MW of wind power capacity, representing a 141% year-over-year increase, according to Mercom India Research. Installations in Q4 surged by 34% quarter-over-quarter. The increased demand for round-the-clock renewable energy has led to a rise in wind-solar hybrid projects across the country.

India-based battery materials producer LOHUM has raised ₹4.5 billion (~$54 million) in a series B funding from Singularity Growth, Baring Private Equity, Cactus Venture Partners, and Venture East, amongst other new and existing venture firms. The company will channel these funds to expand its market and scale up its battery materials recycling operations across India. The company will also expand to new energy transition materials markets in North America, the EU, the Middle East, Africa, and Asia. LOHUM produces sustainable energy transition materials through battery recycling, raw material refining, and battery repurposing.

The Odisha government has given the green light to a number of green energy projects with a promised investment of roughly ₹557 billion (~$6.7 billion). Among the proposals approved by the Odisha government is an electrolyzer manufacturing plant in Khordha to be set up by Waaree Clean Energy Solutions at a cost of ₹4.35 billion (~$52.4 million). Waaree will also develop a 1.20 MMTPA green ammonia project in Jagatsinghpur with an investment of ₹124.8 billion (~$1.5 billion).

Fuel cell manufacturer Ballard Power Systems has reported a net loss of $48.9 million in the fourth quarter of 2023, an increase of 77.17% year-over-year (YoY) from a net loss of $42.9 million, as operational expenses surge. The quarter saw a total revenue of $46.8 million, marking a 132% YoY increase. The heavy-duty mobility segment experienced a surge, with revenue reaching $29 million, showing a 219% YoY increase. The growth was attributed to heightened revenues in various sectors such as bus, truck, rail, and marine.