Daily News Wrap-Up: Tender for 10 GWh Battery Cell Capacity Under PLI Program

Karnataka Proposes P2P Solar Energy Trading

January 25, 2024


The Ministry of Heavy Industries has issued a request for proposals to select manufacturers to set up 10 GWh manufacturing capacities for Advance Chemistry Cell (ACC) under the Production Linked Incentive (PLI) program. The tender follows MHI’s announcement that it would re-issue the tender for the unallocated 20 GWh capacity under the ‘National Program on ACC Battery Storage.’\

The Karnataka Electricity Regulatory Commission has released a draft proposal to allow peer-to-peer solar energy trading in the state using blockchain technology whereby electricity consumers can become ‘prosumers’ by installing rooftop solar modules and selling excess power generated to consumers directly.

In an exclusive interview with Mercom India, Rahul Mishra, Senior VP and Head of Commercial & Industrial (C&I) at BluPine Energy, shared his views on the recent trends in the green energy open access market and the C&I energy transition in India. BluPine Energy is a renewable energy solutions provider to the C&I segment, with a development portfolio of over 4 GW in solar, wind, and storage assets.

SAEL, an India-based waste-to-energy producer, has raised $1 billion in a funding round involving Norfund, the U.S. Development Finance Corporation, the Asian Development Bank, Tata Cleantech, and other financial institutions. The company said the investment will be used to expand its solar and biomass projects, taking advantage of the favorable market conditions and government programs in the renewable energy sector.

Engineering and consulting firm Gensol Engineering posted a net profit of ₹123.1 million (~$1.5 million) in the third quarter (Q3) of the financial year (FY) 2024, an increase of 748% year-over-year (YoY) from a net loss of ₹19 million (~$228,578). The increase in net profit could be attributed to the increase in solar engineering, procurement, and commissioning (EPC) orders the company received during the period.

ACME Group, a renewable energy company, and IHI Corporation, a Japan-based integrated heavy industry group, have inked an offtake term sheet for the supply of green ammonia from India to Japan. The agreement is aimed at contributing to India’s National Green Hydrogen Mission and Japan’s net-zero commitment.

China-based robotic solar module cleaning solutions firm Sunpure announced that it has completed its Series A funding round of ¥100 million (~$676,221) led by Hengxu Capital. Yuantai Investment Partners Fund, Guoyuan Fund, and the company’s existing shareholder, GL Venture, also participated in this round.

Germany installed 3.5 GW of solar power capacity in the fourth quarter of 2023, a 105.8% YoY growth from 1.7 GW. On a quarter-over-quarter basis, installations witnessed a drop of 7.8% from 3.8 GW. The data was published in a recent report by the German Federal Network Agency Bundesnetzagentur.

Wind energy deployment in the U.S. is expected to reach 770 GW and solar 1,090 GW by 2050, representing 5x and 10x increases over current levels, respectively, according to the National Renewable Energy Laboratory. Wind and solar are forecasted to contribute between 55% and 85% of total generation in 2050 across various scenarios.

JSW Energy, an independent power producer, reported a net profit of ₹2.32 billion (~$27.9 million), a jump of 29% YoY in Q3 of FY 2023-24, helped by a strong performance in the renewables segment and lower fuel costs. Higher generation in both thermal and renewables segments drove the company’s total revenue up by 13% YoY to ₹26.61 billion (~$320 million).


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