Daily News Wrap-Up: SunPower Completes Maxeon Spinoff, Tata Sends EVs to AYUSH Ministry

Sungrow supplies its inverter solutions to a South Korea-based hybrid project


Here are some noteworthy cleantech news and announcements of the day from around the world:

SunPower and Maxeon Solar Technologies announced that they have completed the strategic transaction, announced last November, separating into two independent public companies. Tom Werner continues as Chief Executive Officer (CEO) and Chairman of the Board of California-based SunPower with an economic footprint across the United States and Canada. Tom Werner said that this was the right time for this strategic spin-off, allowing both SunPower and Maxeon to invest in key programs to drive their future profitable growth. Jeff Waters is the CEO of Singapore-based global solar innovation firm Maxeon with the panel and cell manufacturing facility in several countries. Both companies have collaborated to develop and commercialize next-generation solar panel technology.

Sungrow confirmed that it had supplied its outdoor central inverter solution to a 93 MW (AC) hybrid project in South Korea. The project is located in Yeongam, South Jeolla Province, South Korea. The project is expected to generate 120 GW of clean energy while reducing 56,000 tons of carbon dioxide annually. The project developer Daemyung Energy is expected to raise around 30 billion Korean Won (~$25.33 million) through the sale of renewable energy certificates to Korea South-East Power for solar power over 20 years. Located in a 2.96 million square meters mountainous location, the PV project is a part of South Korea’s largest hybrid energy system integrating PV, wind, and energy storage.

Inox Wind said that it had extended its existing product offering with the launch of the 3.3 MW wind turbines, which are ideally suited for low wind regions in India. The newly launched 3.3 MW turbine is a globally operating proven platform that will further improve energy yields and reduce the levelized cost of electricity, according to the company. Supplies of these turbines are likely to commence in FY 2021. Inox said that it would be among the most competitive turbines in the Indian market. This is expected to improve the company’s margins and also address any potential issue of lower tariffs.

Microsoft has selected Magenta Power for its start-up support program. Under this program, Microsoft supports B2B tech start-ups to scale and grow technology, cloud marketplace, enterprise sales team, and partner ecosystem for developing its digital technology platforms for EV and EV charging. Magenta has been developing India-specific EV charging hardware solutions since 2017.

Tata Motors has partnered with the Ministry of AYUSH to deploy Tigor electric vehicles in Delhi as a part of its tender with Energy Efficiency Services Limited (EESL). The company handed over the first batch of Tigor EVs to the ministry in the national capital. Tata said it was closely working with other companies of the Tata Group to create an e-mobility ecosystem. According to Tata Motors, it had a market share of 62% in EVs in Q1 FY20.

Here is our previous daily news wrap-up.