Daily News Wrap-Up: RUVNL’s 1.2 GW Solar With Storage Auction

SJVN tenders for BOS supply along with O&M for a 200 MW solar project

August 10, 2023


Solarcraft Power (BluPine Energy) and ACME Solar have emerged winners in Rajasthan Urja Vikas Nigam’s auction to set up 1,200 MW of solar power projects anywhere in India with a committed supply for at least six hours during the peak demand periods from an energy storage system. BluPine Energy won 100 MW by quoting a tariff of ₹6.68 (~$0.081)/kWh, and ACME won 500 MW out of the quoted 600 MW at ₹6.69 (~$0.081)/kWh.

SJVN Green Energy, a wholly owned subsidiary of SJVN, has invited bids for the supply of a balance of system package along with comprehensive three-year operation and maintenance services for a 200 MW grid-connected solar power project situated at Khavda Solar Park, Gujarat. The last date to submit the bid is September 5, 2023. Bids will be opened the same day.

NTPC Renewable Energy, SJVN Green Energy, and Hinduja Renewables Energy have won Rewa Ultra Mega Solar’s auction to develop a 300 MW floating solar park (Phase II) at the Omkareshwar reservoir in Madhya Pradesh. According to Mercom sources, SJVN Green Energy won 90 MW by quoting ₹3.79 (~$0.0458)/kWh, NTPC Renewable Energy 80 MW at ₹3.80(~$0.0459)/kWh, and Hinduja Renewables Energy 80 MW for the tariff of ₹3.89 (~$0.0470)/kWh.

The Rajasthan Electricity Regulatory Commission recently allowed  Rajasthan Urja Vikas Nigam to pay the arrears to renewable energy developers who had supplied solar and wind power to DISCOM beyond the power purchase agreements. The Commission ruled that the arrears have to be settled within 90 days for the wind power procured at ₹2.44 (~$0.029)/kWh and solar power at ₹2.24 (~$0.027)/kW for the period beyond March 31, 2019, and in case of late payment, a surcharge would be applicable.

A parliamentary committee has recommended that the government extend Phase II of the Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) for at least three years beyond March 31, 2024, to make electric vehicles a norm in the Indian automobile market. The standing committee on Industry made this recommendation in a report relating to the Ministry of Heavy Industries and presented it to Parliament recently.

China-based solar manufacturer GCL System Integration Technology recently operationalized Phase I of the 20 GW high-efficiency n-type TOPCon (tunnel oxide passivated contact) solar cell manufacturing facility at Wuhu in China’s Anhui province. The facility is now ready to produce 10 GW of solar cells. The project was developed with an estimated investment of CNY8 billion (~$1.11 billion).

Swift Current Energy, a U.S.-based utility-scale renewable developer, has secured $779 million in financing for its Double Black Diamond Solar project, with a capacity of 800 MWdc (593 MWac). Comprising $695 million in construction and tax equity bridge loans, along with an $84 million letter of credit facility, this financing is claimed to be among the most substantial solar project funding endeavors in the U.S.

Community solar installations in the U.S. have displayed a downward trend, with a 6% decrease reported in 2022 and a 13% decline during the first quarter of 2023, according to a report jointly published by Wood Mackenzie and the Coalition for Community Solar Access. The decline in numbers was mainly caused by uncertainties in the supply chain over the past year and challenges related to interconnection and siting, which hindered growth in important state markets like Massachusetts and Maine.

Solid Power, which develops all-solid-state battery technology for electric vehicles, recorded a net loss of $12.21 million during Q2 of FY 2023, a 189 % year-over-year (YoY) decrease from a profit of $13.67 million. The company’s revenue during the April to June quarter came up to $4.91 million, a YoY increase of 90.3% from $2.58 million. The ongoing implementation of the company’s collaborative development agreements led to increased revenue.

ESS Tech, a long-duration iron-flow battery manufacturer, recorded a net loss of $22.93 million in the second quarter of 2023, a YoY increase of 40.89% from a loss of $16.27 million. The increase in net loss could be attributed partly to increased research and development costs, as the company worked to get additional patents for its iron flow battery technology. The United States-based company recorded a 312% YoY increase in revenue at $2.83 million in Q2 2023 from $686,000.

United States-based utility-scale solar tracker company Array Technologies recorded a net profit of $64.81 million during Q2 of FY 2023, a YoY increase of 1,391%, compared to a loss of $5.02 million. The company’s revenue came in at $507.73 million, a YoY increase of 21%. This growth was driven by a rise in both the total capacity shipped and an increase in average selling price, attributed to better pass-through pricing to customers.