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Daily News Wrap-Up: Power Ministry Seeks Comments on Draft Electricity Amendment


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					</table><p>Italy-based renewable energy company <a href="https://www.enelgreenpower.com/" target="_blank" rel="noopener">Enel Green Power</a>, researchers at the National Solar Energy Institute (<a href="https://www.ines-solaire.org/en/" target="_blank" rel="noopener">INES</a>), and the French Alternative Energies and Atomic Energy Commission (<a href="https://www.cea.fr/english/Pages/Welcome.aspx" target="_blank" rel="noopener">CEA</a>) claimed to have achieved a power conversion efficiency of 26.5% for a 2-terminal tandem perovskite solar cell.</p>
<p>The improved efficiency in the collaborative research was obtained for a PIN architecture cell in the device with an active area of 9 cm² and an open-circuit voltage of over 1,880 Mv, with shading correction.</p>
<p>The PIN architecture also helped the collaboration adapt the heterojunction silicon cell produced on the CEA pilot line for its tandem integration.</p>
<p>The researchers said that integrating a P layer allows the deposition of halogenated organometallic perovskite (PK) material without any initial treatment and the optimization of the N-type transport layers.</p>
<p>The collaboration further explored tandem technology to achieve high yields in conventional photovoltaic formats with processes that would allow their industrialization.</p>
<p>The 26.5% efficiency achieved in the above experiment surpassed the earlier conversion efficiencies of 24.9% and 25.8%, achieved on the same active area of 9 cm².</p>
<p>The teams from Enel and CEA are studying the photovoltaic properties of PK materials. They claimed these materials could help achieve conversion efficiencies above 30% by combining them with a lower band-gap material like silicon.</p>
<p>Enel Green Power and its subsidiary 3SUN at Catania in Italy are collaborating with CEA at INES to develop the tandem perovskite-silicon technology with two terminals. A statement by INES said that the work aims to achieve the highest industrially feasible efficiencies in record time.</p>
<p>In the study, the researchers focus on two routes, a NIP-type architecture, wherein they claimed to have achieved a record efficiency of 23.7% on the active surface. The second route, a PIN-type architecture, has been studied since 2021.</p>
<p>Last November, Enel said it <a href="https://mercomindia.com/daily-news-wrap-up-enel-to-build-a-3-gw-solar-module-facility-in-the-us/" target="_blank" rel="noopener">intends</a> to build a 3 GW industrial-scale solar module production facility in the United States through its subsidiary 3Sun USA.</p>
<p>In another research, experts at TNO, TU Eindhoven, imec, and TU Delft, partners in Solliance, a solar research institute in the Netherlands, <a href="https://mercomindia.com/four-terminal-architecture-push-perovskite-solar-cell/" target="_blank" rel="noopener">claimed</a> to have pushed the conversion efficiency of tandem solar cells to more than 30%. This efficiency, they said, is beyond the limits of today’s commercial photovoltaic modules and enables more power per square meter and less cost per kWh.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
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<div class="authorboxn"> <img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
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Researchers Show 26.5% Efficiency in 2-Terminal Tandem Perovskite Solar Cell


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					</table><p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>Enel North America </strong><a href="https://www.enelnorthamerica.com/newsroom/news/search-press/press/2022/11/solar-panel-manufacturing" target="_blank" rel="noopener"><strong>intends</strong></a><strong> to build an industrial-scale production facility in the U.S. to manufacture solar photovoltaic modules.</strong> The proposed facility is expected to have a minimum production capacity of 3 GW and possibly scale production to 6 GW annually. The facility is expected to be among the first in the United States to produce solar cells and will be built through its affiliate 3Sun USA. Enel is evaluating possible sites for the new factory and expects to begin construction in mid-2023. It&#8217;s anticipated that the first panels will be available to the market by the end of 2024.</p>
<p><strong>African Development Bank </strong><a href="https://www.afdb.org/en/news-and-events/press-releases/african-development-bank-invests-20-million-private-equity-fund-targeting-renewable-energy-projects-sub-saharan-africa-56503" target="_blank" rel="noopener"><strong>approved</strong></a><strong> an equity investment of $20 million in Evolution Fund III. </strong>The fund is a pan-African clean and sustainable energy private equity fund mobilizing about $400 million into renewable energy and resource-efficiency assets across sub-Saharan Africa over ten years. Inspired Evolution Investment Management is a well-established fund manager with more than 15 years of experience and a track record of deploying more than $310 million in renewable energy projects in African counties. The bank&#8217;s support will contribute to an additional 2,162 MW of installed renewable power generation capacity and 1.8 million tons of CO<sub>2</sub> emission savings</p>
<p><strong>Canadian Solar </strong><a href="http://investors.canadiansolar.com/news-releases/news-release-details/canadian-solar-announces-operation-100-mwp-solar-project-japan" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the commercial operation of its 100 MW Azuma Kofuji solar project in the Fukushima Prefecture of Japan. </strong>The Azuma Kofuji project is Canadian Solar&#8217;s largest project in Japan. The project is powered with Canadian Solar high-efficiency HiKu modules. The energy generated has been purchased by the Tohoku Electric Power Company at JPY36 (U$0.26)/kWh under Japan&#8217;s feed-in-tariff program for over 18 years. Azuma Kofuji is expected to produce 106,800 MWh of clean and reliable energy to power and avoid over 50,000 metric tons of CO2-equivalent emissions annually.</p>
<p><strong>First Solar will </strong><a href="https://investor.firstsolar.com/news/press-release-details/2022/Intersect-Power-Procures-4.9-GW-for-2025-2029-Delivery-Increasing-its-Total-2022-Orders-for-First-Solar-Module-Technology-to-7.3-GW/default.aspx" target="_blank" rel="noopener"><strong>supply</strong></a><strong> an additional 4.9 GW<sub> </sub>of its thin-film photovoltaic solar modules to Intersect Power. </strong>Combined with a previously announced agreement for 2.4 GW<sub>C </sub>signed in July 2022, these transactions take Intersect Power&#8217;s total orders for First Solar modules this year to 7.3 GW. Of the 4.9 GW, the agreement to supply 1 GW<sub> </sub>was signed before First Solar&#8217;s Q3 2022 earnings call in October, while the agreement to supply the remaining 3.9 GW<sub>C </sub>was signed after the October earnings call. The orders placed by Intersect Power this year will see a combination of First Solar&#8217;s Series 6 <em>Plus</em> and Series 7 modules deployed in its solar, storage, and green hydrogen projects coming online across the United States from 2025 to 2029.</p>
<p><strong>FIMER <a href="https://www.fimer.com/fimer-provided-its-pvs-100-inverters-partners-main-solution-and-evolvere-installation-calabria" target="_blank" rel="noopener">supplied </a>9 PVS-100 three-phase string inverters through its partners Main Solution and Evolvere for Vegitalia, a company operating in the food sector in Italy.</strong> The system&#8217;s total power is 999.18 kW with 2196 photovoltaic modules installed. The PVS-100/120-TL is FIMER&#8217;s cloud-connected three-phase string inverter solution for cost-efficient decentralized photovoltaic systems for both ground-mounted and rooftop applications. This high-power platform, with power ratings up to 120 kW, maximizes the return on investment for decentralized commercial and industrial solar projects.</p>
<p><strong>Global Investment firm Carlyle <a href="http://www.carlyle.co.in/media-room/news-release-archive/carlyle-launches-renewable-energy-development-platform-telis-energy-in-europe" target="_blank" rel="noopener">launched</a> Telis Energy, a newly created renewables platform to develop renewable energy projects, focusing on solar, </strong>in the UK, France, Spain, and Germany. Headquartered in London, Telis will develop and partner on high-quality renewable energy projects and seeks to play a significant role in the European energy transition, with a target project pipeline of more than 10 GW in place by 2030. Since December 2018, Carlyle has deployed approximately $1.2 billion globally into renewable assets, such as Solar and wind, as of September 30, 2022. In 2021, Carlyle launched Copia Power, a large-scale renewable development platform in the U.S., which will start construction on more than 1 GW of projects in 2023 and has accumulated a pipeline of more than 16 GW under development.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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Daily News Wrap-Up: Enel to Build a 3 GW Solar Module Facility in the U.S.

<p>British International Investment (formerly <a href="https://www.cdcgroup.com" target="_blank" rel="noopener">CDC Group</a>), a U.K. government-owned development financial institution, announced an investment of $89 million for solar projects in India.</p>
<p>British International Investment (BII) is providing $47 million as part of a follow-on investment to the distributed solar company <a href="https://www.fourthpartner.co/" target="_blank" rel="noopener">Fourth Partner Energy</a> for projects totaling 294 MW. The projects will be developed across India, Sri Lanka, Bangladesh, Indonesia, and Vietnam. The latest funding brings BII&#8217;s total commitment to Fourth Partner Energy to $80 million.</p>
<p>BII had <a href="https://mercomindia.com/fourth-partner-energy-%e2%82%b92-5-billion-expand-solar/" target="_blank" rel="noopener">announced</a> the first part of its investment in Fourth Partner Energy, amounting to ₹2.5 billion in April 2021.</p>
<p>The capacity expansion is expected to help commercial and industrial (C&amp;I) consumers avoid nearly 400,000 tons of carbon dioxide emissions annually.</p>
<p>BII is also lending $42 million in project debt to the 300 MW Thar Surya 1 solar project being built by the Indian subsidiary of <a href="https://www.enel.com/" target="_blank" rel="noopener">Enel</a>, an Italian gas and power utility company. The project is estimated at $200 million. The project is likely to mitigate 697,000 tons of greenhouse gas emissions annually and meet the equivalent demand of 151,000 consumers.</p>
<p>BII has a five-year strategy with a target to route 30% of its new investments towards climate finance. The investments are aimed to address challenges due to climate change, including decarbonizing the energy mix, building green energy capacity, and expanding renewables in countries where BII invests.</p>
<p>Speaking on the two investments, BII Managing Director and Head of Asia, Srini Nagarajan, said, &#8220;BII&#8217;s investments in Fourth Partner Energy and the Thar Solar P.V. project are a continuation of more than 30 years of experience of investing in India. These two investments demonstrate our commitment to leveraging our partnerships and expertise in the energy sector to help deploy clean, renewable energy at scale and support India&#8217;s green growth. We are pleased to put into action BII&#8217;s pledge to commit $1 billion in climate finance to India over the next five years.&#8221;</p>
<p>CDC has made strategic investments in India in past years, including a $30 million green lending <a href="https://mercomindia.com/cdc-30-million-green-lending-to-tata/" target="_blank" rel="noopener">facility</a> to Tata Cleantech Capital to enhance water and energy efficiency and reduce greenhouse gas emissions. It has also <a href="https://mercomindia.com/cdc-invests-indias-green-equity-fund/" target="_blank" rel="noopener">invested</a> $70 million in the Green Growth Equity Fund, a climate change fund. The fund is managed by Eversource Capital, a joint venture between private equity fund Everstone Group and Lightsource bp, British Petroleum&#8217;s renewable energy platform.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
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<div class="authorboxn"> <img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
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British International Investment Announces $89 Million for Solar Projects in India

<p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>GE&#8217;s Grid Solutions business </strong><a href="https://www.gegridsolutions.com/press/gepress/ge-awarded-contract-by-renew-power-to-help-develop-renewable-energy-zones-in-india.htm" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it had been awarded a contract by ReNew Power to build two 400 kV substations in Karnataka </strong>&#8211; a 400/220 kV air-insulated substation in Koppal and a 400 kV gas-insulated substation in Narendra. The contract also includes the supply of two 125 MVAR (mega volt-ampere reactive) 400 kV reactors for each substation. The substations are built as a part of the Narendra-Koppal project, involving the evacuation of 2.5 GW from wind energy zones in Karnataka, part of the first of three phases of the overall project.</p>
<p><strong>Karnataka Electricity Regulatory Commission (</strong><a href="https://karunadu.karnataka.gov.in/kerc" target="_blank" rel="noopener"><strong>KERC</strong></a><strong>) has condoned the delay in commissioning a 1 MW solar project by Gavi Ranga Solar to June 22, 2017.</strong> The Commission found that delay falls within the parameters of ‘force majeure’ events due to delay in granting various approvals from Government institutions. The Commission said Gavi Ranga Solar is to the entitled tariff at ₹8.40 (~$0.11)/kWh as per the power purchase agreement. The Commission directed Chamundeshwari Electricity Supply Corporation (<a href="https://cescmysore.karnataka.gov.in/english" target="_blank" rel="noopener">CESC</a>) to pay the difference of the tariff paid per unit from the project&#8217;s commissioning date and the late payment surcharge within two months. The Commission also ordered CESC not to levy liquidated damages, and if already levied, the same must be refunded within two months.</p>
<p><strong>The Solar Energy Corporation of India Limited </strong><a href="https://www.seci.co.in/whats-new-detail/2270" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the annulment of a 100 MW tender. </strong>The tender scope was design, engineering, supply, construction, erection, testing &amp; commissioning of a 100 MW solar power project with the land having ten years of plant operations and maintenance at Chhattisgarh.</p>
<p><strong>Karnataka Electricity Regulatory Commission (</strong><a href="https://karunadu.karnataka.gov.in/kerc" target="_blank" rel="noopener"><strong>KERC</strong></a><strong>) has condoned the delay in commissioning a 1 MW solar project by Saakesha Solar Energy and MNR Solar. </strong>The Commission found that delay falls within the parameters of ‘force majeure’ events due to delay in granting various approvals from Government institutions. The Commission said Gavi Ranga Solar and MNR Solar are to the entitled tariff at ₹8.40 (~$0.11)/kWh as per the power purchase agreements. The Commission directed Bangalore Electricity Supply Company (<a href="https://bescom.co.in/SCP/Myhome.aspx" target="_blank" rel="noopener">BESCOM</a>) to pay the difference of the tariff paid per unit from the project&#8217;s commissioning date and the late payment surcharge within two months. The Commission also ordered BESCOM not to levy liquidated damages, and if already levied, the same must be refunded within two months.</p>
<p><strong>Enel Green Power and the European Commission </strong><a href="https://www.enelgreenpower.com/media/press/2022/04/enel-green-power-signs-grant-agreement-with-eu-for-solar-panel-gigafactory-italy" target="_blank" rel="noopener"><strong>signed</strong></a><strong> the grant agreement under the framework of the EU’s first Innovation Fund call for large-scale projects </strong>that will contribute to the development of TANGO, a solar module Gigafactory in Italy. It will be an industrial-scale production facility to manufacture innovative, sustainable, and high-performance photovoltaic (PV) modules at EGP’s 3Sun solar panel factory in Catania, Sicily. The factory’s expansion is set to 3 GW per year from the current 200 MW. It is expected to be fully commissioned by July 2024, starting with the first 400 MW in September 2023, making 3Sun Europe’s largest gigawatt-scale factory producing high-performance bifacial solar modules.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/satish-shetty/" class="vcard author" rel="author"><span class="fn">Satish Shetty</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Satish-pic-1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Satish Shetty,</strong> Associate Editor at Mercom India<br />
<a href="https://mercomindia.com/author/satish-shetty/" target="_blank" rel="noopener">More articles from Satish Shetty.</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Satish-pic-1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/satish-shetty/" target="_blank" rel="noopener"><strong style="color: #00b451">Satish Shetty</strong></a> is an Associate Editor with Mercom India. Prior to Mercom, Satish was a multimedia news producer at Reuters, where he gained experience in digital news media. Satish has his Bachelor of Arts (B.A.) degree in Broadcast Journalism from Limkokwing University of Creative Technology, Malaysia.<br />
<a href="https://mercomindia.com/author/satish-shetty/" rel="noopener noreferrer">More articles from Satish Shetty.</a></div>
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Daily News Wrap-Up: GE to Build Substations for ReNew Power’s Wind Projects

<p>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-edp-c2-omega/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>EDP Renewables, through its fully owned subsidiary EDP Renewables North America, has </strong><a href="https://tinyurl.com/mercomedpmh" target="_blank" rel="noopener"><strong>closed</strong></a><strong> its acquisition of a majority interest in C2 Omega, the distributed solar platform of C2 Energy Capital. </strong>The platform has an operating capacity of 89 MW, with a near-term pipeline of more than 150 MW, across 200 sites in 16 states. The closing follows the initial acquisition announcement made on January 18, 2021, and creates a new business unit named EDPR NA Distributed Generation.</p>
<p><strong>TNB Renewables</strong><strong>, a wholly-owned subsidiary of Malaysian utility company Tenaga Nasional Berhad (TNB), will </strong><a href="https://tinyurl.com/mercommutl" target="_blank" rel="noopener"><strong>buy</strong></a><strong> a 39% stake in five rooftop solar projects developed by Singapore-based Sunseap Group in Vietnam. </strong>The process will be completed by March 2021. Sunseap Group is a clean energy solutions provider in Singapore, with over 300 MW of contracted rooftop solar projects, out of which 168 MW have been completed on more than 1,500 buildings in Singapore.</p>
<p><strong>Communications Systems (CSI), an IoT intelligent edge products and services company, </strong><a href="https://tinyurl.com/mercomcmst" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it entered into a merger agreement with privately-held Pineapple Energy</strong>, a U.S. operator and consolidator of residential solar, battery storage, and grid services solutions. Upon closing, CSI will commence doing business as Pineapple Energy, with a business model focused on the rapidly growing home solar industry. The company expects shares of the combined company to continue to trade on the Nasdaq Capital Market under the new ticker symbol &#8220;PEGY.&#8221;</p>
<p><strong>Hill &amp; Smith, the international group providing sustainable infrastructure and safe transport solutions, </strong><a href="https://tinyurl.com/mercompsek" target="_blank" rel="noopener"><strong>announces</strong></a><strong> that it has completed Prolectric Services&#8217; acquisition</strong>, a manufacturer and provider of solar lighting and wind power technologies from shareholders, including the management team who will be staying with the business. The initial cash consideration is £12.5 million (~$17.4 million) on a debt and cash-free basis.</p>
<p><strong>Altius Renewable Royalties has </strong><a href="https://www.businesswire.com/news/home/20210303005550/en/Altius-Renewable-Royalties-Corp.-Completes-Initial-Public-Offering" target="_blank" rel="noopener"><strong>completed</strong></a><strong> its initial public offering of 9,100,000 common shares at a price of C$11 (~$8.7) per share for total gross proceeds of C$100.1 million (~$79.24  million). </strong>Altius Minerals Corporation is expected to hold 15,638,639 shares of the company or approximately 61% of the issued and outstanding shares. The shares commenced trading on the Toronto Stock Exchange under the symbol &#8220;ARR&#8221; on February 26, 2021.</p>
<p><strong>Freedom Solar, Texas&#8217;s turnkey solar energy installer for residential and commercial solar solutions, </strong><a href="https://tinyurl.com/mercomfrsw" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that two new equity partners, Genesis Park and GEC, have invested in the company.</strong> With the addition of its new equity partners, Freedom Solar&#8217;s Board of Directors now includes CEO Bret Biggart and President Ryan Hunter; Hobby of Genesis Park; Fairbanks of GEC; and Scott Whitworth of WM Capital Partners.</p>
<p><strong>Bboxx, a next-generation utility, and EDF strengthen their <a href="https://www.bboxx.com/news/bboxx-and-edf-ramp-up-partnership-with-investment-in-kenya-expansion/" target="_blank" rel="noopener">partnership</a> as EDF becomes a shareholder in Bboxx Kenya with a 23% stake. </strong>EDF will bring its commercial resources and experience from developing off-grid solutions in several African countries. EDF&#8217;s investment will accelerate expansion into Kenya, Bboxx&#8217;s largest market.</p>
<p><strong>Brazilian energy company Rio Alto Energias Renovaveis intends to </strong><a href="https://renewablesnow.com/news/brazils-rio-alto-energias-plans-ipo-to-back-solar-projects-733169/#:~:text=March%203%20(Renewables%20Now)%20%2D,parks%2C%20Reuters%20reported%20on%20Tuesday." target="_blank" rel="noopener"><strong>launch</strong></a><strong> an IPO to support the construction of new solar projects.</strong> XP Investimentos and lenders BTG Pactual SA, Bradesco BBI, and Credit Suisse will coordinate the IPO. The IPO proceeds will help expand the 93 MW Coremas complex and benefit the Santa Luzia, Sol do Agreste and Lagoa Tapada solar projects.</p>
<p><strong>Enel, a manufacturer and distributor of electricity and gas, </strong><a href="https://www.enel.com/media/explore/search-press-releases/press/2021/03/enel-issues-new-hybrid-bonds-for-an-aggregate-principal-amount-of-225-billion-euros--" target="_blank" rel="noopener"><strong>launched</strong></a><strong> a euro-denominated, non-convertible, subordinated, hybrid, perpetual, multi-tranche bond for institutional </strong>investors on the European market for an aggregate principal amount of €2.25 billion (~$2.7 billion). The transaction was oversubscribed by 3.5 times, with total orders of €7.8 billion (~$9.3 billion).</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener"><strong>here</strong></a>.</p>
<p>Read last week&#8217;s funding <a href="https://mercomindia.com/funding-and-ma-roundup-shell-acquire-kraftwerke/" target="_blank" rel="noopener"><strong>roundup</strong></a>.</p>
<p>Image credit: Photo by <a href="https://unsplash.com/@imagefactory?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText" target="_blank" rel="noopener">Colin Watts</a> on <a href="https://unsplash.com/s/photos/dollar?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText" target="_blank" rel="noopener">Unsplash</a></p>
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<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/staff/" class="vcard author" rel="author"><span class="fn">Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Funding and M&A Roundup: EDP Renewables Acquires a Majority Stake in C2 Omega

<p>Italian renewable energy company Enel Green Power (<a href="https://www.enelgreenpower.com/" target="_blank" rel="noopener noreferrer">EGP</a>) announced that it has entered into a long-term, joint investment partnership with Norwegian private equity fund <a href="https://www.norfund.no/" target="_blank" rel="noopener noreferrer">Norfund</a> to set up renewable energy projects in India.</p>
<p>EGP said it would jointly finance, build, and operate new renewable projects in India with Norfund through its Indian subsidiary – Enel Green Power India (EGP India).</p>
<p>According to Enel, the agreement will be a collaborative investment framework under which its Indian wing will develop and construct the projects. Meanwhile, Norfund will invest in the projects upon a specific stage of completion and become an equity partner in it along with EGP India.</p>
<p>“This agreement gives us the opportunity to expand and strengthen our presence in India, after recently scoring our first win in a solar tender in the country,” said Antonio Cammisecra, CEO of Enel Green Power.</p>
<p>Recently Avikaran Surya India Private Limited (Enel Green Power) <a href="https://mercomindia.com/seci-solar-auction-india-record-low/" target="_blank" rel="noopener noreferrer">quoted</a> the second-lowest tariff of ₹2.37 (~$0.0314)/kWh in the Solar Energy Corporation of India’s (SECI) auction for 2 GW of the interstate transmission system (ISTS) connected solar projects (Tranche IX). This auction saw a record-low bid of ₹2.36 (~$0.0313)/kWh, the lowest since July 2018.</p>
<p>Enel noted that it was recently awarded the right to sign a 25-year energy supply contract for the 300 MW (420 MW DC) solar project in Rajasthan, which will be the company’s first solar project in the country.</p>
<p>According to the company’s press statement, EGP India owns and operates 172 MW of wind capacity producing around 320 GW per year in Gujarat and Maharashtra.</p>
<p>In 2018, Enel Green Power <a href="https://mercomindia.com/enel-green-34-mw-solar-zambia/" target="_blank" rel="noopener noreferrer">started</a> the construction of a 34 MW grid-connected solar facility, Ngonye solar PV project, located in southern Zambia.</p>
<p>Previously, Mercom <a href="https://mercomindia.com/afdb-pledge-improving-energy-access-africa/" target="_blank" rel="noopener noreferrer">reported</a> that Norfund, African Development Bank, the European Commission, KfW, the Clean Technology Fund, among others pledged $160 million (~₹11.84 billion) for the Facility of Energy Inclusion to improve energy access in Africa by using small scale renewable projects and mini-grid projects.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/nithin-prasad/" class="vcard author" rel="author"><span class="fn">Nithin Thomas Prasad</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft wp-image-9822" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Nithin-2-1.jpg" alt="" width="102" height="102" /><a href="https://mercomindia.com/author/nithin-prasad/" target="_blank" rel="noopener"><strong style="color: #00b451">Nithin Thomas</strong></a> is a staff reporter at Mercom India. Previously with Reuters News, he has covered oil, metals and agricultural commodity markets across global markets. He has also covered refinery and pipeline explosions, oil and gas leaks, Atlantic region hurricane developments, and other natural disasters. Nithin holds a Masters Degree in Applied Economics from Christ University, Bangalore and a Bachelor&#8217;s Degree in Commerce from Loyola College, Chennai. <a href="https://mercomindia.com/author/nithin-prasad/">More articles from Nithin.</a></p>
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