Daily News Wrap-Up: Rajasthan Rejects Solar Developer’s Compensation Claims

West Bengal DISCOM to procure 150 MW renewable power at ₹2.92/kWh

September 11, 2023


The Rajasthan Electricity Regulatory Commission, in a recent order, has rejected the compensation claims by a solar developer for losses incurred due to voltage fluctuations and directed them to make necessary arrangements for injecting or withdrawing reactive power per the regulations outlined by the Central Electricity Authority. The Commission also directed the Rajasthan Rajya Vidyut Prasaran Nigam, the state load dispatch center, and the solar developers to take appropriate and necessary action to maintain the grid voltage within the operating limits for 200 MW (2*100 MW) solar power projects at the Bhadla Solar Park in Rajasthan.

The West Bengal Electricity Regulatory Commission has given the green light to Calcutta Electric Supply Corporation to procure 150 MW of wind-solar hybrid power from Amp Energy Green Seventeen, a special-purpose vehicle of AmpIn Energy at ₹2.92 (~$0.03)/kWh. CESC had filed a petition on July 4, 2023, for the adoption of tariff and approval of the power purchase agreement (PPA) executed on June 28, 2023, with Amp Energy Green Seventeen for power procurement at the discovered tariff in the competitive bidding process.

The Indian Energy Exchange (IEX) recorded the lowest renewable energy units traded in 2023 at 242.3 million units (MU) in August 2023, a 44.6% year-over-year (YoY) decline from 437 MU and an 11.9% drop from the 275 MU traded in July. The renewable energy trade at the IEX has witnessed a downward trend throughout 2023 compared to the previous year, with the highest green energy units traded in March 2023 at 391 MU. The Green Day-Ahead Market and Green Term-Ahead Market segments witnessed an unprecedented surge in weighted average prices during the month, leading to lower trading volumes.

The U.S. solar industry installed 5.6 GWdc of new capacity in Q2 2023, a year-over-year increase of 20% increase, according to the U.S. Solar Market Insight Q3 2023 report released by the Solar Energy Industries Association and Wood Mackenzie. However, this also represented an 8% decline quarter-over-quarter. Notably, the total installed capacity for the year’s first half (1H) reached nearly 12 GW, a significant improvement compared to 1H 2022, when it was less than 8 GW. In terms of its contribution to the electricity landscape, solar accounted for 45% of all newly added generating capacity in 1H 2023.

Electric vehicle charging solution provider ChargePoint reported a net loss of $125.3 million in the Q2 of fiscal 2024, a 35% increase year-over-year from the loss of $92.7 million. This increase in losses was primarily due to an inventory impairment charge of $28 million during the period. In Q2, the company recorded a revenue of $150.5 million, marking a 39% increase from $108.3 million generated in the same quarter of the previous year.


Get the most relevant India solar and clean energy news.