Daily News Wrap-Up: Avaada, NTPC, Adani Green Top Utility-Scale Solar Developers

PFC Invites Bids to Evacuate 7 GW of Power from Khavda Renewable Energy Park

May 19, 2023


Avaada Energy, NTPC Renewable Energy, Adani Green Energy, Tata Power Renewables, and Azure Power emerged as the top utility-scale solar project developers in the calendar year 2022, according to Mercom’s recently released India Solar Market Leaderboard 2023. The report covers market shares and rankings across the Indian solar supply chain and provides the most accurate and comprehensive coverage of India’s solar industry leaders.

PFC Consulting, a wholly owned subsidiary of Power Finance Corporation, has invited bids to develop an interstate transmission system to evacuate 7 GW of power from the Khavda Renewable Energy Park under Phase-III, Part A. The transmission projects will be developed on a build, own, operate, and transfer basis. The last date to submit the bids online is July 18, 2023. Bids will be opened on the same day.

REC Limited, a government-owned infrastructure finance company, posted a net profit of ₹30 billion (~$363.6 million) in the fourth quarter of the financial year (FY) 2022-23, up 31% year-over-year. This positive performance is attributable to the company’s efforts in enhancing asset quality and resolving stressed assets. The company said its net credit-impaired assets declined to 1.01% compared to 1.45% YoY. REC reported no new non-performing assets for the FY 2022-23

LONGi Solar sees its Indian business nearly tripling in the next few years with an annual solar module supply of 10 GW, up from the 2021 high of 3.5 GW, Arijit Mitra, Deputy General Manager at LONGi Solar, said in an interview on the sidelines of the Mercom India Renewables Summit 2023, held in New Delhi on April 26-27. Mitra added that LONGi has applied to be part of the Approved List of Models and Manufacturers, and he hopes that factory visits by Indian government officials will happen soon with the end of COVID restrictions.

As India strives to achieve its non-fossil-based energy target of 500 GW set for 2030, the funding is going to be supported by the green bond market and not just the term lending, Chintan Shah, Renewable Energy Expert, commented on the sidelines of the Mercom India Renewables Summit 2023. He added that defining green bonds will help measure them and set up a long-term bond market, thus driving investments into the sector.

Himachal Pradesh Power Corporation has invited bids for the design, supply, construction, installation, and commissioning of a 3 MW solar power project at Sainj in the Kullu district of the state. The successful bidder must also undertake operation and maintenance for eight years. The last date to submit the bids is May 25, 2023. Bids will be opened on the same day.

Bharat Petroleum Corporation (BPCL) has floated a tender for the development and maintenance of a 7.56 MW (AC)/ 9.97 MW (DC) ground-mounted solar project in Tadali village of Chandrapur district in Maharashtra. The power generated from the project will be used primarily at the BPCL Refinery in Mumbai through Intrastate power transfer mode. The successful bidder will be responsible for the design, engineering, supply, installation, and commissioning of the project, along with the operation and maintenance for five years.

The Agriculture Department of Ratnagiri Zilla Parishad has invited bids to commission a 1 MW ground-mounted solar power project in Golap, Maharashtra. The project should be a ground-mounted unipolar-tracked, seasonal-tilt arrangement. It should be completed within six months of receiving the work order. The developer should also oversee the project’s operation and maintenance service for three years. The last day to submit the project is June 1, 2023. Bids will be opened on the next day.

Scientists at the Indian Institute of Technology Bombay have claimed a breakthrough in developing sodium-ion (Na-ion) batteries by addressing the challenges of air/water instability and structural-cum-electrochemical instability in cathode materials. The breakthrough has led to the creation of new air/water-stable cathode materials that exhibit exceptional electrochemical cyclic stability and resilience when exposed to air and water.

Fuel cell maker Ballard Power Systems’ revenue in the first quarter of the financial year 2023 amounted to $13.3 million, a 37% decline YoY. Heavy Duty Mobility revenue totaled $8.7 million, reflecting an 11% decrease, primarily driven by lower revenues from technology services contracts relating to the company’s truck vertical in China. However, this decrease was partially offset by higher rail and marine revenue.

Unión Eléctrica de Cuba, Cuba, has invited bids to select developers for 60 MW of solar projects in the country on a build, own, and operate basis. The brief scope of work includes the project’s design, financing, construction, installation, commissioning, and operation for the power purchase agreement period. The last date to submit the bids is July 20, 2023. Bids will be opened the following day.