Daily News Wrap-Up: NTPC’s Tender for 1.5 GW of Wind-Solar Hybrid Projects

India, Japan launch $600 million low carbon emission fund

October 5, 2023


NTPC has invited bids to set up 1,500 MW of interstate transmission system-connected wind-solar hybrid power projects anywhere in India. The last date to submit the bids online is October 17, 2023. Bids will be opened on the same day. The minimum capacity of each project at one site must be 50 MW. Bidders must submit ₹1.16 million (~$13,939)/MW as an earnest money deposit. A power purchase agreement will be signed between NTPC and successful bidders subject to the signing of a power sale agreement with the state distribution companies for the identified capacity.

The Japan Bank for International Cooperation (JBIC) and the Government of India signed an agreement to establish a $600 million India-Japan Fund to address climate and environmental challenges. The fund will focus on environmental preservation in India, encompassing sectors such as renewable energy, electric vehicles, waste management, and water management projects. The government of India will contribute 49% of the target corpus and JBIC the remaining 51%.

India-based Epsilon Group entered into an agreement to acquire John Matthey’s Technology Center focused on lithium-ion phosphate (LFP) cathode active materials in Moosburg, Germany. The financial terms of the acquisition were not disclosed. The facility features top-tier technical capabilities and a skilled workforce specializing in LFP chemistry. It also offers extensive product and process development capabilities and a versatile customer qualification plant tailored for testing new materials intended for large-scale production.

The Central Electricity Regulatory Commission (CERC) addressed certain issues related to the implementation of the CERC (Indian Electricity Grid Code) Regulations, 2023. The Grid Code was published on July 11, 2023, and its provisions were to become effective from October 1, 2023. Several entities, including NHPC, SJVN, NTPC, THDC India, Grid-India, and Northeast Regional Power Committees, raised concerns about specific aspects of the Grid Code and sought clarification on these issues.

The Indian Renewable Energy Development Agency has been elevated from ‘Schedule B’ to ‘Schedule A’ Central Public Sector Enterprise, providing the agency greater financial autonomy and enabling strategic decisions to enhance its mission of expediting renewable energy adoption nationwide. The upgrade, as announced by the Department of Public Enterprises in the Ministry of Finance, has received formal endorsement from the Ministry of New and Renewable Energy. It empowers the agency with increased financial autonomy to advance renewable energy adoption in India and facilitate green projects in various states.

The European Union’s inaugural renewable energy financing mechanism tender attracted bids well above its target capacity. The tender was realized through Luxembourg and Finland’s collaborative efforts within the renewable energy financing framework. Luxembourg has committed €40 million (~$44 million) as a voluntary contribution, while Finland provided the platform for projects ranging from 5 MW to 100 MW to compete for financial support. The tender, floated in April 2023, was the first-ever cross-border tender between EU member states.

Mercom India announced the fourth edition of its flagship event, the Mercom India Renewables Summit, slated to take place on July 25 and 26, 2024. The Summit, a must-attend event in India’s annual renewable energy calendar, brings together industry leaders, policymakers, investors, and innovators in a collaborative effort to chart the course towards a sustainable energy future.