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					</table><p><a href="https://www.mercomindia.com/bharat-electronics-wind-project-karnataka" target="_blank" rel="noopener"><strong>Bharat Electronics has invited bids to develop a wind project of 4 MW to 5 MW capacity in Karnataka.</strong></a> The selected developer must also oversee the project’s comprehensive operation and maintenance for 25 years. The project should be commissioned within 15 months of receiving the work order. The last day to submit the bids is April 10, 2023. The bids will be opened the next day.</p>
<p><a href="https://www.mercomindia.com/masdars-900-uzbekistan-reach-financial-closure" target="_blank" rel="noopener"><strong>UAE government-owned renewable energy company Masdar has reached financial close on three solar photovoltaic projects in Uzbekistan.</strong></a> The projects will be a part of the largest solar development program in the area, with a total capacity of approximately 900 MW, and will start construction shortly. The Asian Development Bank, Asian Infrastructure Investment Bank, the European Bank for Reconstruction and Development, and the European Investment Bank are funding the projects.</p>
<p><a href="https://www.mercomindia.com/prozeal-infra-raises-4-million-to-scale-solar-epc-operations" target="_blank" rel="noopener"><strong>Solar energy developer Prozeal Infra Engineering has received $4 million in a first funding round led by Alchemie Ventures</strong></a>, an investment office arm of Chandrakant Gogri, the Founder and Chairman Emeritus of Aarti Group of Industries. The investment is for a minority stake. The funds will be used to scale operations and execute developer-model projects for energy and utility companies.</p>
<p><strong><a href="https://www.mercomindia.com/enerture-consultancy-contract-110-mw-karnataka" target="_blank" rel="noopener">Enerture Technologies, a New Delhi-headquartered solar project developer, has won the project management consultancy contract for the implementation of a 110 MW solar project</a></strong> in group captive mode for the Karnataka Cooperative Milk Producers’ Federation. The tender for the implementation of the project was issued in February this year. Enerture will be responsible for implementing the project and selecting the engineering, procurement, and construction contractor.</p>
<p><a href="https://www.mercomindia.com/emerging-renewable-technologies-improve-generation" target="_blank" rel="noopener"><strong>Renewable Energy generation has seen significant technological breakthroughs over the last few years as the industry strives for faster and more affordable adoption of cleaner and sustainable energy sources over fossil fuels.</strong></a> Technological advancements have leapfrogged across the board, including solar, wind, energy storage, and others. Mercom India will bring together industry panelists who will discuss these technological advancements and their impact at its ‘Mercom India Renewables Summit 2023,’ an exclusive event on April 26-27 in New Delhi.</p>
<p><strong><a href="https://www.mercomindia.com/discoms-owed-power-generators-%e2%82%b9422-billion-march-2023" target="_blank" rel="noopener">Distribution companies (DISCOMs) owed power generators ₹422.13 billion (~$5.16 billion) in overdue payments for the monthly billing cycle at the end of March</a></strong>, according to Ministry of Power data. The total outstanding owed to power generators is ₹679.73 billion (~$8.3 billion).</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/mercom-staff/" class="vcard author" rel="author"><span class="fn">Mercom Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Daily News Wrap-Up: BEL Tenders a 4-5 MW Wind Project in Karnataka


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					</table><p>Solar energy developer <a href="https://www.prozealinfra.com/" target="_blank" rel="noopener">Prozeal Infra Engineering</a> has received $4 million in a first funding round led by Alchemie Ventures, an investment office arm of Chandrakant Gogri, the Founder and Chairman Emeritus of <a href="https://www.aarti-industries.com/" target="_blank" rel="noopener">Aarti Group of Industries</a>.</p>
<p>The investment is for a minority stake. The valuation is undisclosed.</p>
<p>The funds will be used to scale operations and execute developer-model projects for energy and utility companies.</p>
<p>The transaction, advised by <a href="https://incorpadvisory.in/" target="_blank" rel="noopener">Incorp Advisory</a>, is one of the largest Series-A Fundraising in India&#8217;s solar engineering, procurement, and construction (EPC) space in over two years.</p>
<p>Ahmedabad-based Prozeal Infra has an order book worth $120 million that is scheduled to be executed over the next twelve months.</p>
<p>The company is involved in delivering end-to-end turnkey projects in solar engineering, procurement and construction, electric vehicle charging, and battery storage.</p>
<p>Manan Thakkar, the Co-Founder of Prozeal, said the firm is aligned with the National Solar Mission, which aims to promote energy diversification.</p>
<p>Shobit Rai, the Co-Founder of Prozeal, said Gogri&#8217;s business acumen and guidance would aid the company in achieving sustainable growth in the next stage of development.</p>
<p>Gogri said solar energy and decarbonization are critical to India&#8217;s commitment to climate change. Prozeal Infra, he believes, is well-positioned to seize a significant portion of this energy transformation due to its engineering capabilities.</p>
<p>Prozeal Infra aims to be a decarbonization and net-zero solution provider for commercial and industrial MNCs, MSMEs, and government institutions that support India&#8217;s sustainable energy objectives.</p>
<p>Inderpreet Chadha, Head of Investment Banking at InCorp Advisory, said the investment positions Prozeal Infra to become one of India&#8217;s major players in this field.</p>
<p>In June 2022, Gujarat State Electricity Corporation Limited (GSECL) <a href="https://www.mercomindia.com/prozeal-install-131-mw-solar-projects-in-gujarat" target="_blank" rel="noopener">awarded</a> an EPC contract to Prozeal Infra Engineering to install 131 MW of solar projects in the Surendranagar and Morbi districts of Gujarat.</p>
<p>The company also <a href="https://mercomindia.com/daily-news-wrap-up-lg-electronics-acquires-applemango-ev/" target="_blank" rel="noopener">received</a> a letter of award from the Surat Municipal Corporation for supplying, installing, operating, and maintaining 25 DC fast chargers. The chargers will have a configuration of CCS 2.0 (50 kW) + CCS 2.0 (50 kW) + Type 2 AC (22 kW). The project’s estimated cost is ₹140 million (~$1.78 million).</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/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</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/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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Prozeal Infra Raises $4 Million to Scale Solar EPC Operations

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