Daily News Wrap-Up: North Western Railway Tenders 7.28 MW Rooftop Solar Systems

JSW, Tata Power, Avaada, Juniper win MSEDCL’s 1,650 MW wind-solar auction

October 16, 2024

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The North Western Railway has invited bids for the installation of 7.28 MW grid-connected rooftop solar power systems at residential buildings in the Jaipur division. The last date to submit bids is November 5, 2024. Bids will be opened on the same day. Bidders must submit an earnest deposit of ₹1.65 million (~$19,625). The project has an advertised value of ₹301.05 million (~$3.58 million). The project must be completed within six months.

JSW Neo Energy, Tata Power Renewable Energy, Avaada Energy, and Juniper Green Energy have won Maharashtra State Electricity Distribution Company’s auction to supply 1,650 MW of wind-solar hybrid power on a long-term basis from grid-connected intrastate projects with a greenshoe option of up to 1,650 MW.

The Maharashtra Electricity Regulatory Commission has approved the tariffs of ₹3.60 (~$0.0428) to ₹3.62 (~$0.0431)/kWh for the Maharashtra State Electricity Distribution Company (MSEDCL) to procure 1,601 MW of wind-solar hybrid power. MSEDCL issued a tender to procure 2,000 MW of hybrid power, with an additional greenshoe option for up to 2,000 MW in March this year. The tender was initially floated for 500 MW but was later increased to 2,000 MW. In the e-reverse auction, JSW Neo and Juniper Green quoted ₹3.60 (~$0.0431)/kWh to win 200 and 75 MW, respectively.

Military Engineer Services has invited bids for comprehensive maintenance of a 1.7 MW solar project at Air Force Station Palam, New Delhi. The last date for submitting bids is October 26, 2024. Bids will be opened on October 28. The project’s estimated cost is ₹2.49 million (~$29,618). This comprehensive maintenance contract aims to ensure optimal performance of the solar project at the Air Force Station through regular upkeep and timely repairs over the 270-day period.

Indian Oil Corporation has entered into a joint venture agreement with EverEnviro Resource Management to convert organic waste into compressed biogas (CBG). The agreement will pave the way for forming a 50:50 joint venture company to advance biofuel adoption nationwide. The joint venture will focus on integrating advanced biogas technologies to convert organic waste into CBG, a cleaner and renewable energy source. By leveraging their combined expertise, IOCL and EverEnviro aim to accelerate the deployment of CBG plants nationwide.

Sterling and Wilson Renewable Energy, the engineering, procurement, and construction  arm of the Shapoorji Pallonji Group, posted a net profit of ₹90 million (~$1.07 million) in the second quarter of the financial year (FY) 2025, swinging from a net loss of ₹540 million (~$6.42 million) in the same quarter last year. This marks the third consecutive quarter of profit for the company. Revenue growth of 36% year-over-year (YoY) helped the bottom line touch ₹10.31 billion (~$122.64 million) in the quarter, up from ₹7.59 billion (~$90.28 million). Revenue growth was primarily driven by higher execution in the domestic EPC segment.

IBM has announced its acquisition of Prescinto, a software-as-a-service provider for renewable energy asset performance management. The acquisition will help IBM bolster its Maximo Application Suite, a comprehensive asset lifecycle management platform, enhancing its capabilities in the renewable energy sector. Prescinto’s AI-driven APM software enables real-time monitoring, advanced analytics, and automation to optimize the performance of renewable assets such as wind turbines, solar panels, and energy storage systems. By integrating Prescinto’s AI-driven solutions, IBM MAS will offer enhanced monitoring and management capabilities. This will allow clients to predict and prevent performance issues, reduce downtime, and optimize energy generation.

Avaada Energy, the renewable energy arm of the Avaada Group, closed a ₹5.97 billion (~$71 million) refinancing deal with NIIF Infrastructure Finance (NIIF IFL) for its commercial and industrial solar projects in Karnataka and Maharashtra. The solar projects supply electricity to various companies, including Bharati Airtel, Motherson, Bharat Forge, STT, Nxtra Data, and Lumax. Avaada said the refinancing from NIIF IFL was on significantly improved commercial terms, facilitating the prepayment of the existing loan facility.

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