Rajasthan Floats Consultancy Tender for 45 MW Renewable Energy Projects

Maharashtra Invites EOIs for 115 MW Floating Solar Project with Battery Storage

Odisha Amends Renewable Energy Policy to Support Wind, Storage

Inox Clean Raises ₹15 billion from Motilal Oswal Group

APTEL Upholds Capacity-Based Wheeling Charges for Captive Wind Project

Bihar Offers Rooftop Solar Subsidy Top-up of ₹10,000/kW Under PM Surya Ghar

Strong Solar Module Demand Drives Insolation Energy’s Q1 Revenue up 105%

India Adds Record 27 GW of Solar Capacity in First Half of 2026

Daily News Wrap-Up: DCR Push Triggers a Solar Module Supply Crunch

Gujarat Tenders 1 GW/4 GWh Standalone Battery Storage Projects

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					</table>Recent moves by private players to acquire power distribution licenses have once again <a href="https://www.mercomindia.com/discom-license-bids-in-karnataka-and-goa-rekindle-privatization-debate" target="_blank" rel="noopener">brought</a> the debate over the privatization of distribution companies (DISCOMs) to the forefront. Power distribution has historically been one of the most politically sensitive segments of India’s electricity sector. While private participation is permitted under the Electricity Act, 2003, attempts to expand it beyond a few cities and states have been resisted by state governments, utilities, and employee unions.
The Central Electricity Regulatory Commission (CERC) <a href="https://www.mercomindia.com/cerc-unlocks-idle-transmission-capacity-for-15-7-gw-renewables" target="_blank" rel="noopener">introduced</a> a one-time mechanism to address renewable energy projects that secured interstate transmission system connectivity, but power purchase agreements (PPAs) have not been signed even 12 months after the issuance of the letters of award.
CERC <a href="https://www.mercomindia.com/cerc-proposes-fy-2027-generic-tariffs-for-renewable-energy-projects" target="_blank" rel="noopener">invited</a> stakeholder comments on the levelized generic tariffs proposed for renewable energy projects for the third year of the Control Period. The Commission has invited stakeholders to submit comments and suggestions on the draft proposal by July 21, 2026.
The Uttar Pradesh Electricity Regulatory Commission <a href="https://www.mercomindia.com/uttar-pradesh-regulator-approves-tariffs-for-110-mw-solar-projects-in-kanpur" target="_blank" rel="noopener">approved</a> two 25-year PPAs and adopted tariffs of ₹2.65 (~$0.0276)/kWh and ₹2.71 (~$0.0283)/kWh for 75 MW and 35 MW solar projects in the Kanpur Dehat and Kanpur Nagar solar parks, respectively.
The Arunachal Pradesh State Electricity Regulatory Commission <a href="https://www.mercomindia.com/arunachal-pradesh-approves-%E2%82%B962-1-million-arr-for-state-load-despatch-center" target="_blank" rel="noopener">approved</a> a net Aggregate Revenue Requirement of ₹62.14 million (~$648,686) for the State Load Dispatch Center for FY 2026-27, against the ₹72.73 million (~$759,236) sought by the petitioner.
The Bihar Electricity Regulatory Commission <a href="https://www.mercomindia.com/bihar-waives-application-meter-testing-charges-for-residential-rooftop-solar" target="_blank" rel="noopener">waived</a> application and meter-testing charges for domestic rooftop solar consumers under the PM Surya Ghar: Muft Bijli Yojana, following petitions from the state’s two DISCOMs seeking to reduce adoption barriers.
The Gujarat Electricity Regulatory Commission (GERC) <a href="https://www.mercomindia.com/gerc-seeks-consultants-to-review-and-monitor-capital-investment-plan?" target="_blank" rel="noopener">invited</a> bids from consultancy firms to assist with the scrutiny, review, approval, and monitoring of the capital investment plan and related matters. The last date to submit bids is August 3, 2026.
GERC <a href="https://www.mercomindia.com/gerc-seeks-consultants-for-progressive-retail-tariff-reforms" target="_blank" rel="noopener">invited</a> bids from consultancy firms to assist in preparing a study on the rationalization of the retail electricity tariff structure, tariff design, cost of supply, time-of-day tariff, and a roadmap for progressive tariff reforms. Bids must be submitted by August 3, 2026.
Aditya Birla Renewables (ABRen), the renewable energy subsidiary of Grasim Industries, <a href="https://www.mercomindia.com/aditya-birla-renewables-to-acquire-sprng-energy-for-1-8-billion" target="_blank" rel="noopener">signed</a> a definitive agreement to acquire Sprng Energy from Shell Overseas Investment for an enterprise value of ₹172 billion (~$1.8 billion). ABRen will acquire all equity shares and securities of Solenergi Power, which owns the Sprng Energy group of companies.
Do you know that if your facility has a sanctioned load of 1 MW or more, you can <a href="https://www.mercomindia.com/the-complete-guide-to-power-trading-in-india-for-ci-consumers" target="_blank" rel="noopener">buy</a> cheaper electricity directly from the national market right now? Most commercial and industrial consumers don’t realize they’re sitting on a massive opportunity to save more than 30% of their electricity costs.
Masdar (Abu Dhabi Future Energy Company), a UAE-based renewable energy developer, <a href="https://www.mercomindia.com/masdar-closes-5-1b-abu-dhabi-solar-storage-project" target="_blank" rel="noopener">reached</a> financial close on a $5.1 billion financing package for a 5.2 GW solar and 19 GWh battery energy storage round-the-clock project in Abu Dhabi. The project represents a total capital investment of $6.1 billion, with Masdar contributing $1 billion in equity.
Türkiye’s Ministry of Energy and Natural Resources <a href="https://www.mercomindia.com/turkiye-floats-21-renewable-energy-tenders-for-2-4-gw-capacity" target="_blank" rel="noopener">launched</a> a new round of Renewable Energy Resource Area tenders, offering 2.4 GW of renewable energy connection capacity across 21 solar and wind tenders. Bids must be submitted by October 13, 2026.
Oman <a href="https://www.mercomindia.com/mena-weekly-round-up-oman-seeks-consultants-for-4-gw-solar-projects" target="_blank" rel="noopener">floated</a> a tender to appoint technical consultants for the development of 4 GW solar projects. Nama Power and Water Procurement Company, the single offtaker for all independent power projects, invited interested bidders to submit applications by August 26.

Daily News Wrap-Up: Karnataka, Goa DISCOM Bids Revive Privatization Debate

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					</table>Do you know that if your facility has a sanctioned load of 1 MW or more, you can buy cheaper electricity directly from the national market right now? Most commercial and industrial (C&amp;I) consumers don&#8217;t realize they’re sitting on a massive opportunity to save more than 30% of their electricity costs. We would like to help you take the lead.
This guide will explore how power exchanges work, why open access is vital, and the best ways to get started with power trading today.
What is Power Trading?
Power trading is the buying and selling of electricity as a commodity. It enables producers (like power plants), distributors, and consumers to balance supply and demand quickly. By bypassing long-term contracts, consumers can optimize their energy costs and integrate renewable sources into the grid.
Why Is a Power Trading Strategy Important?
Electricity prices change every hour based on demand. Because the market is unpredictable, a clear strategy is necessary to avoid losing money when prices spike.
<ul>
<li>Managing price and weather risks ensures stable operations</li>
<li>Efficient trading lowers electricity procurement costs and improves budgeting</li>
<li>Moving surplus energy to high-demand areas minimizes resource waste</li>
<li>Plans balance inconsistent renewable output with real-time consumer needs</li>
<li>Participants use market trends and differences for financial advantage</li>
</ul>
What Are the Different Ways to Trade Power?
Businesses can get electricity in several ways, depending on their needs. By using different ways of <a href="https://enerparc.in/energy-trading/" target="_blank" rel="noopener">energy trading</a>, they can buy power for immediate use or plan for the long term. Here are the top options:
Power Exchanges (Short-Term/Spot Markets)
<ul>
<li> Day-Ahead Market (DAM): Trading for the next day in 15-minute blocks</li>
<li>Real-Time Market: One-hour trading via 30-minute auctions for demand balancing</li>
<li>Term-Ahead Market: Contracts ranging from a few days up to 3 months</li>
<li>Green Term-Ahead Markets: A specialized platform for renewable energy</li>
</ul>
Renewable Energy Trading
<ul>
<li>Renewable Energy Certificates: Credits used to meet renewable purchase obligations</li>
<li>Green Day-Ahead Market: A subset of the DAM used for green power</li>
</ul>
Emerging Models
<ul>
<li>Peer-to-Peer Trading: Direct trading between producers and consumers</li>
<li>Energy as a Service: Bundled energy management and storage solutions</li>
</ul>
Role of Open Access in Power Trading
Open access makes the grid available to everyone, creating a fair market. This freedom provides the following advantages:
<ul>
<li>It ends utility monopolies, letting businesses choose suppliers and negotiate rates</li>
<li>Consumers can buy green power directly to meet sustainability targets</li>
<li>Competitive prices often reduce costs compared to standard tariffs</li>
<li>Contracts range from short-term needs to long-term agreements</li>
<li>Regulated access helps balance national supply and demand efficiently</li>
</ul>
How to Start Power Trading?
Starting your power trading journey is a structured process. You must follow these specific steps for the best outcomes:
<ul>
<li>Ensure your sanctioned load is at least 1 MW and let us evaluate your peak consumption patterns</li>
<li>Obtain grid permission by applying to the nodal agency and registering for Open Access</li>
<li>Use national exchanges like IEX or sign direct contracts with energy producers</li>
<li>Install specialized energy meters to monitor the power drawn from the national grid</li>
<li>Hire a <a href="https://enerparc.in/">licensed</a><a href="https://enerparc.in/" target="_blank" rel="noopener"> trader</a> to manage the complex bidding and scheduling for you</li>
</ul>
Energy Independence
Adopting a power trading strategy is a practical step toward energy independence and cost stability. As India&#8217;s energy ecosystem matures, the Open Access framework lets businesses move beyond fixed tariffs and source power at competitive, market-linked rates.
Making it work depends on the fundamentals — a balanced portfolio, decentralized solar, and well-timed market participation. This is where a facilitation partner adds value. Enerparc supports industries through this shift by bridging market gaps and building structured, resilient energy portfolios.
To see how Open Access fits your strategy, <a href="https://enerparc.in/contact-us/" target="_blank" rel="noopener">click here</a>.
 (This article is sponsored by solar solutions provider Enerparc)
&nbsp;

The Complete Guide to Power Trading in India for C&I Consumers

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					</table><a href="https://www.enerparc.de/en/" target="_blank" rel="noopener">ENERPARC AG</a>, a European solar project developer and independent power producer, secured a €1 billion (~$1.15 billion) debt package to support the continued expansion of its solar and battery storage pipeline across the company’s core markets.
This new financing package, provided by a consortium of three global asset managers and a German state bank, comprises a loan of €500 million (~$577 million) and a long-term project financing framework of up to €425 million (~$490 million) with and accordion facility that could increase project financing to €500 million (~$577 million).
Astris Finance structured and placed the €500 million (~$577 million) loan, which was provided by a consortium of three global asset managers, including EIG, Schroders Capital, and Eiffel Investment Group. This medium-term loan finances a significant share of the construction equity for projects in Germany, France, and Spain over the next five years.
ENERPARC also agreed on a long-term project financing framework with LBBW, under which clustered financing sections cover both the construction and operational phases of solar and battery storage facilities.
“With this framework financing, we are supporting ENERPARC in taking the next big step in the expansion of solar energy and battery storage. Our commitment and structuring expertise underscore LBBW’s role as a long-term financing partner for infrastructure and the energy transition – from the construction phase to operation. I am particularly pleased that, based on our proven track record of cooperation, we are once again implementing a tailor-made, scalable financing concept that gives ENERPARC reliable room for maneuver for the coming years,” said Jan Weismüller, Global Head of Infrastructure, Energy and Transportation at LBBW.
The company had installed 1.2 GW of new solar capacity and expanded its operating portfolio to 5 GW in the previous year. Additionally, ENERPARC is advancing its battery storage platform, with 24 battery energy storage projects totaling around 220 MWh currently in operation or under construction.
Capcora supported ENERPARC throughout the structuring, negotiation, and closing of the €500 million (~$577 million) senior facility.
Large-scale solar project funding increased by 37% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>.
Recently, Primergy, a renewable energy project developer and portfolio company of Quinbrook, <a href="https://cms.mercomindia.com/primergy-secures-600-million-gemini-solar-storage-project/" target="_blank" rel="noopener">secured</a> a refinancing through a $600 million private placement of senior secured notes, together with a $160 million letter of credit facility for its Gemini Solar + Storage project.

ENERPARC Secures $1 Billion Debt Financing for Solar and Storage Projects

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					</table>High-power string inverters can significantly reduce the balance of system (BOS) costs compared to central inverter solutions as they require fewer inverters per block and have a better DC-to-AC conversion ratio, a panel of industry experts at a webinar hosted by Mercom India said.
The impact of inverters on project performance, stability, and the levelized cost of energy (LCOE) is substantial.
The webinar, titled &#8220;How to Save Costs with High Power String Inverters in Large Scale Projects,&#8221; highlighted how high-capacity string inverters could help save costs for large-scale solar projects.
The panelists were Nilesh Mahajan, CEO and Director of <a href="https://roofsol.com/" target="_blank" rel="noopener">Roofsol Energy</a>; Yogish HN, AVP-BD at <a href="https://enerparc.in/" target="_blank" rel="noopener">Enerparc</a>; Kannan Devaraji, Senior Manager at Enerparc; Gajanan Sawant, Senior Manager – Design and Engineering at <a href="https://www.cleanmax.com/" target="_blank" rel="noopener">Cleanmax</a>; Sunil Panigrahi, Country Manager – India at <a href="https://en.hopewind.com/" target="_blank" rel="noopener">Hopewind</a> and Rakesh B P, Solution Manager at Hopewind.
Priya Sanjay, Managing Director, Mercom India, moderated the session.
Cost Savings
As high-power string technology requires fewer inverters per block, the costs associated with cabling, combiner boxes, junction boxes, mounting structures, and other electrical equipment are reduced. This brings down installation, operations, and maintenance expenses over the project&#8217;s lifecycle.
&#8220;We have calculated that using high-power string inverters in large-scale projects can save around $8,000 to $9,000 per MW in costs,&#8221; said Panigrahi . &#8220;For a 100 MW project, the savings become really substantial when you multiply across the entire capacity.&#8221;
&#8220;On the DC side, you can reduce the number of cables, and on the AC side, you can reduce the cable size. By this, you can reduce the project cost,&#8221; he added.
Apart from reduction in capital costs, developers also look at savings in LCOE over the life of the inverter, explained Nilesh Mahajan. &#8220;At the end of the day, we also want to see how the inverter will perform. Apart from capital costs, developers and EPC contractors also look at the costs associated with the inverters after installation, during maintenance, and the lifespan of the inverters and the critical components that need to be replaced.&#8221;
Better Conversion Ratios
Another key advantage highlighted was the higher AC/DC conversion ratios achievable with string inverters. &#8220;This higher DC overloading allows capturing more energy from the solar modules and accounts for any mismatch losses or degradation over time,&#8221; explained Rakesh.
Distributed string inverter configurations also provide more design flexibility than centralized solutions. If a fault occurs in one string, the entire plant is not shut down, unlike a central inverter.
Flexibility in OEMs
The introduction of high-power string inverters also offers increased flexibility when using various original equipment manufacturers (OEMs). Implementing high-power string inverters allows for the integration of multiple module technologies and ratings, providing developers and EPC firms greater flexibility.
&#8220;By introducing high power inverters, we have the flexibility to use different OEM and different technology because module costs are one of the deciding factors in the system as well as BOS costs,&#8221; said Kannan Devaraji.
Earlier conventional solar setups with a single central inverter could utilize only a single OEM of modules, limiting options when it came to costs and supply timelines.
&#8220;The cost and supply of a module also plays a role in overall costs,&#8221; added Devaraji.
Technological Challenges
However, string inverters also face technology challenges that need to be addressed. A major concern was derating, especially for hot, arid regions like Rajasthan, where temperatures routinely exceed 50°C. Developers stressed the need for more intelligent cooling systems.
&#8220;One of the major criteria before selecting an inverter is how it performs in extreme temperatures, along with reliability and safety aspects,&#8221; said Mahajan. &#8220;Certification is another aspect we look for. Since the projects are connected to the grid, we have to comply with the requirements of the grid operator,&#8221; he added.
Another requirement is faster response time to support dynamic reactive power requirements for large plants. Gajanan Sawant felt that under one-second response time is needed to provide grid services like frequency regulation, as opposed to about five seconds currently.
Highlighting the advantage of string inverters when it comes to response time, Rakesh explained that a lower number of inverters usually leads to faster response time. &#8220;When you connect a lower number of inverters, the response time is faster.&#8221;
Cyber security to safeguard the distributed assets from potential hacking was another area of focus for the panelists. They felt that inverters must have advanced security measures, certifications, and secure servers to prevent any data breaches or manipulation attacks.
Later this month, Mercom will host a <a href="https://www.mercomindia.com/webinars/how-to-protect-renewable-energy-projects-from-commercial-cyber-threats-with-insurance" target="_blank" rel="noopener">webinar</a> on how insurance can help protect renewable energy projects from commercial cybersecurity attacks.
Last year, Mercom <a href="https://www.mercomindia.com/smarter-inverters-crucial-from-advanced-solar-modules" target="_blank" rel="noopener">hosted</a> a webinar exploring the rising demand for high-capacity string inverters and larger solar modules with a power rating of 600W+. The webinar found that the shift to larger modules had prompted upgrades in project designs and other equipment to accommodate higher generation.
Sign up for Mercom&#8217;s next webinar on &#8211; <a href="https://www.mercomindia.com/webinars/how-to-protect-renewable-energy-projects-from-commercial-cyber-threats-with-insurance" target="_blank" rel="noopener">How to Protect Renewable Energy Projects from Commercial Cyber Threats with Insurance</a>

High Power String Inverters in Solar Projects Perform Better, Save Costs

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					</table>The top rooftop solar installers in India during the first half (1H) of the calendar year (CY) 2023 were <a href="https://www.tatapowersolar.com/" target="_blank" rel="noopener">Tata Power Solar</a>, <a href="https://www.havells.com/" target="_blank" rel="noopener">Havells India</a>, <a href="https://enerparc.in/" target="_blank" rel="noopener">Enerparc Energy</a>, <a href="https://amplussolar.com/" target="_blank" rel="noopener">Amplus Solar</a>, and <a href="https://www.hartek.com/" target="_blank" rel="noopener">Hartek Solar</a>, according to Mercom&#8217;s recently released <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-1h-2023-market-shares-profiles" target="_blank" rel="noopener">India Solar Market Leaderboard 1H 2023.</a>
Enerparc Energy was the newest entry in the top 10.
The Market Leaderboard provides information on the competitive landscape and market share of the major players in India&#8217;s solar supply chain.
India added 872 MW of rooftop solar capacity, a 3.2% increase compared to 845 MW in 1H 2022, according to the <a href="https://www.mercomindia.com/product/rooftop-solar-market-report-q2-2023" target="_blank" rel="noopener">Mercom India Rooftop Solar Market Report Q2 2023</a>. The top 10 companies in the Market Leaderboard accounted for around 45% of these capacity additions.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/Leading-Rooftop-Solar-Installers-in-India-1H-2023.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-60302 " src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/Leading-Rooftop-Solar-Installers-in-India-1H-2023.png" alt="Leading Rooftop Solar Installers in India 1H 2023" width="632" height="507" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/Leading-Rooftop-Solar-Installers-in-India-1H-2023.png 701w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/Leading-Rooftop-Solar-Installers-in-India-1H-2023-300x241.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/Leading-Rooftop-Solar-Installers-in-India-1H-2023-650x521.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/Leading-Rooftop-Solar-Installers-in-India-1H-2023-624x500.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/Leading-Rooftop-Solar-Installers-in-India-1H-2023-600x481.png 600w" sizes="auto, (max-width: 632px) 100vw, 632px" /></a>As of June 2023, Tata Power was the top among rooftop solar installers, accounting for 24% of all rooftop solar installations; Havells India and Enerparc Energy held the second and third spots with 4% and 3% solar installations, respectively. Amplus Solar and Hartek Solar had a market share of 3% and 2%, respectively.
Tata Power Solar has a portfolio of more than 1.3 GW of rooftop and distributed ground-mounted systems.
Havells India climbed three places compared to 1H 2022. It stood second among India&#8217;s installers. The industrial and residential segments were the main focus of their installations.
Enerparc Energy was the third leading rooftop solar installer on the list. The company specializes in investment and EPC services for rooftop, ground-mounted solar photovoltaic (PV) systems, and solar carports, primarily focusing on India&#8217;s commercial and industrial segments. Enerparc has commissioned over 120 solar PV projects nationwide, with a capacity of more than 200 MW cumulatively.
The report covers market shares and rankings across the Indian solar supply chain and provides the most accurate and comprehensive coverage of India&#8217;s solar industry leaders. For the detailed and comprehensive report, click <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-1h-2023-market-shares-profiles" target="_blank" rel="noopener">here</a>.
A complete list of the solar rooftop installers and their market share is available through <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-share-tracker" target="_blank" rel="noopener">Mercom&#8217;s India Solar Market Share Tracker</a>.

Tata Power, Havells, Enerparc Top Rooftop Solar Installers List in 1H 2023

<a href="https://enerparc.in/" target="_blank" rel="noopener">Enerparc</a>, a utility-scale solar company through Enerparc Australia, sold 193 MW of its Australian PV portfolio to Ingka Investments, the investment arm of Ingka Group.
The portfolio comprises three ground-mounted projects located in New South Wales, including two operational solar PV parks in Peak Hill and Trundle, near Parkes, in central-west New South Wales, with a cumulative capacity of 13.3 MW, and a third utility-scale 180 MW solar PV park currently under development which is expected to start producing electricity at the end of 2025.
The divested asset portfolio includes Enerparc&#8217;s first operational projects in Australia and the largest development to date at approximately 180 MW. This sale is part of the growing number of large-scale projects in the country, where the cumulative installed capacity of solar increased by 20% in 2022 alone.
&#8220;We are proud to have sold this solar PV portfolio in Australia to an ambitious and reputable investor, marking a significant achievement for Enerparc. This sale is a testament to the hard work of our dedicated team and the quality of our projects, and we are excited to see the positive impact of this partnership on the country&#8217;s transition to renewable energy. We remain committed to delivering innovative and sustainable energy solutions in Australia and look forward to advancing further projects of our pipeline in the near future,&#8221; said Benjamin Hannig, Managing Director of Enerparc Australia.
Osborne Clarke advised Enerparc as a legal advisor and UL as a technical advisor, while Capcora acted as a sell-side M&amp;A advisor.
According to Mercom Annual and Q4 2022 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2022-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, 268 large-scale solar project acquisitions were recorded in 2022 compared to 280 in 2021. In 2022, about 66 GW of solar projects were acquired, with project developers acquiring the most, reaching 35.7 GW. EEW, an independent renewable energy project developer, <a href="https://cms.mercomindia.com/eew-sells-solar-project-sweden/" target="_blank" rel="noopener">recently</a> sold a 42 MW solar PV project in Sweden to a large Sweden-based solar and wind project developer. The project in southern Sweden is targeted to reach ready-to-build status in 2023 and commence operations in 2024. Once completed, the solar farm is estimated to generate around 41 GWh of clean and sustainable energy annually.

Enerparc Sells 193 MW of Solar Portfolio in Australia

<a href="https://www.ingka.com/" target="_blank" rel="noopener">Ingka Investments</a>, an investment arm of Ingka Group, acquired nine solar PV projects totaling 440 MW in Germany and Spain from solar PV developer Enerparc.
The expected generation capacity of the solar PV projects is around 300 MW in Germany across four solar development projects and 140 MW in Spain across five solar development projects.
The total investment in the solar PV development portfolio will amount to approximately €340 million (~$371 million). The expected production from the solar projects in Germany and Spain will generate the equivalent of electricity consumption in all IKEA stores and warehouses in the two countries.
The projects are in the early stages and are expected to become ready for construction at the end of 2022, progressing into 2023.
“With our solar and wind projects, we want to make renewable energy available throughout the IKEA value chain and beyond,” says Krister Mattsson, Managing Director, Ingka Investments.
As a part of a €6.5 billion (~$7.10 billion) initiative to support 100% renewable energy consumption across the value chain and beyond, Ingka Investments has invested and committed more than €2.7 billion (~$2.95 billion) into renewable energy projects in wind and solar power.
Currently, Ingka Group owns and manages 547 wind turbines in 14 countries, 10 solar projects, and 935,000 solar panels on the roofs of IKEA stores and warehouses. Together, this produces more than 4 TWh, equivalent to the annual electricity consumption of over 1 million European households.
The development of the solar PV projects in Germany and Spain are part of IKEA’s commitment to becoming climate positive by 2030 by reducing more greenhouse gases (GHG) emissions than the IEA value chain emits.
Over 68 GW of solar projects were acquired in 2021, compared to 39.5 GW in 2020, according to Mercom’s 2021 annual solar funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2021-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>.

Ingka Investments Acquires 440 MW of Solar Projects in Germany and Spain

<a href="https://www.ingka.com/" target="_blank" rel="noopener">Ingka Group</a>, which owns most of the IKEA retail stores across the globe, through its investment arm Ingka Investments, has acquired nine solar PV projects totaling 440 MW in Germany and Spain from the European solar project developer <a href="https://www.enerparc.de/" target="_blank" rel="noopener">Enerparc</a>.
The total investment in the solar PV development portfolio would amount to about €340 million (~$371 million).
Four out of the nine solar power projects will be developed in Germany with an expected capacity of around 300 MW. The remaining five will be in Spain, totaling 140 MW.
The energy generated from these solar projects will help power roughly 140,000 European households and all IKEA stores and warehouses in Germany and Spain.
The projects are in the early stages and are expected to be ready for construction at the end of 2022, progressing into 2023, with a construction timeline of six months.
As a part of a €6.5 billion (~$7.10 billion) initiative to support 100% renewable energy consumption across the value chain and beyond, Ingka Investments has invested and committed more than €2.7billion (~$2.95 billion) into renewable energy projects (wind and solar).
Krister Mattsson, Managing Director, Ingka Investments, commenting on the acquisition, said, “We are delighted to be announcing this important initiative to enable renewable electricity consumption in Germany and Spain, which is another step in accelerating our energy production in Europe and North America. With our solar and wind projects, we want to make renewable energy available throughout the IKEA value chain and beyond.”
The development of the solar power projects in Germany and Spain are part of IKEA’s commitment to becoming climate positive by 2030 by reducing more greenhouse gases (GHG) emissions than the IKEA value chain emits.
Currently, Ingka Group owns and manages 547 wind turbines in 14 countries, ten solar projects, and 935,000 solar panels on the roofs of IKEA stores and warehouses. Together, this produces more than 4 TWh, equivalent to the annual electricity consumption of over 1 million European households.
Ingka Group, in September 2020 had, <a href="https://mercomindia.com/investment-planned-enhance-ikea-sustainability/" target="_blank" rel="noopener">announced</a> its plans to invest €600 million (~$710 million) to help IKEA keep its commitment to become climate positive by 2030. The investment was planned toward innovative companies, solutions, and operations to facilitate the shift towards a net-zero carbon economy.
Over 68 GW of solar projects were acquired in 2021, compared to 39.5 GW in 2020, according to Mercom’s <a href="https://mercomcapital.com/product/annual-q4-2021-solar-funding-ma-report/" target="_blank" rel="noopener">Annual and Q4 2021 Solar Funding and M&amp;A Report</a>.

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