Daily News Wrap-Up: Transmission System Approved for 1.5 GW Solar Power in Karnataka
Average cost of large-scale solar projects Up 7.3% YoY in 2022
March 1, 2023
The Central Electricity Regulatory Commission (CERC) recently granted a transmission license to Gadag II-A Transmission to establish a transmission system for the solar energy zone in Gadag (1.5 GW). It directed the Central Electricity Authority to monitor the execution of the project and bring to its notice any lapse on the licensee’s part to meet the project’s completion schedule. Gadag II-A Transmission, a special purpose vehicle of ReNew Transmission Ventures, had filed a petition to develop a transmission system for the solar energy zone on a build, own, operate, and transfer basis.
The average cost of large-scale solar projects in the fourth quarter (Q4) of the calendar year (CY) 2022 increased by 7.3%, year-over-year (YoY), according to Mercom India Research’s newly released 2022 Q4 & Annual India Solar Market Update. Large-scale solar system costs were up marginally (1.1%) quarter-over-quarte. India witnessed a surge in the average cost of projects, primarily because of higher module prices and supply constraints during 2022. This trend persisted for ten consecutive quarters, representing an unprecedented period of continuous project cost escalation.
The Industries Department of Gujarat and Ocior Energy India signed a memorandum of understanding (MoU) for the development of a green hydrogen and green ammonia project in the Kutch district with an investment of ₹400 billion(~$4.8 billion) and a production capacity of 1 million tons per annum. The MoU was signed between the Chief Executive Officer of Ocior Energy Ranjit Gupta and the Additional Chief Secretary of the Industries Department Kamal Dayani in the presence of Chief Minister Bhupendra Patel at Gandhinagar. The production of green hydrogen and green ammonia and the necessary renewable energy project will be started in two phases by 2030 in Gujarat.
The United States has announced that starting March 10, 2023, it will impose a 200% tax on aluminum and its derivates imported from Russia. In an announcement, President Joe Biden said the U.S. will also impose a 200% duty on aluminum imports that contain any amount of primary aluminum that has been smelted or cast in Russia beginning April 10, 2023. Among other uses, aluminum is a crucial component in solar projects and is widely used to produce solar modules and mounting structures.
Solid-state batteries with a disordered arrangement of metals in electrolytes enhance the performance of the battery by increasing the flow of ions which create an electrical charge, a research study has found. Material experts recently discovered that solid-state batteries use solid electrolytes cutting the dependence on a multi-metal arrangement like in lithium-ion batteries. Experts at the U.S. Lawrence Berkeley National Laboratory said they have discovered such solid electrolytes in a collaborative experiment with scientists at Florida State University and the University of California, Berkeley.
Toronto-based Li-Cycle Holdings Corporation, a lithium-ion battery recycler, has entered into a conditional commitment for a $375 million loan from the U.S. Department of Energy (DOE) through its Advanced Technology Vehicles Manufacturing (ATVM) program. Li-Cycle’s development of the first commercial hydrometallurgical resource recovery facility in North America, located near Rochester, New York, has received a significant endorsement through the conditional commitment. The commitment is the first of its kind from the DOE ATVM program for a sustainable pure-play battery materials recycling company.
Electric three-wheeler manufacturer TI Clean Mobility (TICMPL) signed definitive agreements with Tube Investments of India (TII), Multiples Private Equity Fund III, State Bank of India (SBI), and other co-investors to raise ₹19.5 billion (~$235.7 million) in equity and compulsorily convertible preference shares. The total investment by Multiples, SBI, and other co-investors would amount to ₹12 billion (~$145 million). TII’s investment would be ₹7.5 billion (~$90.6 million) of which ₹6.39 billion (~$77.2 million) has already been invested through equity and inter-corporate deposit. TI Clean Mobility plans to raise an additional ₹10.5 billion (~$127 million) by March 2024, bringing the total fundraise to ₹30 billion (~$362.6 million).
A team of researchers led by Penn State University has created a new process to fabricate large perovskite devices that are more cost and time effective and holds the potential to accelerate future materials discovery. EM-FAST, also known as spark plasma sintering, involves applying electric current and pressure to powders to create new materials. The process has a 100% yield wherein all the raw ingredients go into the final device, as opposed to 20 to 30% in solution-based processing. The technique produced perovskite materials at .2 inches per minute, allowing scientists to quickly create large devices that maintained high performance in laboratory tests.