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					</table><p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>The Karnataka Electricity Regulatory Commission (</strong><a href="https://kerc.karnataka.gov.in/english" target="_blank" rel="noopener"><strong>KERC</strong></a><strong>) recently accepted the petition by Chowdeshwari Solar Energy for the delay in commissioning a 1 MW solar power project</strong> in Chikkaballapura District up to June 22, 2017. The commission also ruled that the petitioner was entitled to the tariff of ₹8.40 (~$0.11)/kWh as per the power purchase agreement. KERC also directed BESCOM to pay the difference in tariff paid per unit from the date of the plant’s commissioning along with the late payment surcharge in terms of the power purchase agreement within two months. BESCOM was also directed not to levy any liquidated charges during this period, and if already charged, they must be refunded.</p>
<p><strong>Sony Group Corporation and Honda Motor </strong><a href="https://global.honda/newsroom/news/2022/c220616eng.html?from=newsrelease_area" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a joint venture agreement to establish a new company to engage in the sale of high-value-added electric vehicles (EVs)</strong> and provide services for mobility. The new company will aim to bring together Honda’s environmental and safety technologies, mobility development capabilities, vehicle body manufacturing technology, and after-sales service management experience with Sony’s expertise in the development and application of imaging, sensing, telecommunication, network, and entertainment technologies, to realize a new generation of mobility and services for mobility. Sony and Honda plan to establish the new company within 2022, sell EVs, and provide mobility services in 2025.</p>
<p><strong>Photon Energy, a European solar energy developer, </strong><a href="https://www.photonenergy.com/en/photon-energy-group/news/photon-energy-breaks-ground-on-first-of-32-mwp-solar-projects-in-romania-to-be-built-this-year.html" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it has broken ground on the construction of its very first Romanian solar photovoltaic power plant with a generation capacity of 5.7 MW.</strong> The project has high-efficiency bifacial solar modules mounted on single-axis trackers and is expected to deliver around 8.7 GWh of renewable energy annually to the grid of Enel E-Distributie Banat, which will be sold on the energy market on a merchant basis. This will be done without support or a power purchase agreement with an energy off-taker. The new power plant is scheduled to commence operations in the fourth quarter of 2023. The solar power plant is located near Șiria in Romania’s Arad County and will extend over 9.3 hectares of greenfield land and be equipped with approximately 10,600 solar panels. The power plant will be owned and operated by Siria Solar S.R.L., a special purpose company wholly owned by Photon Energy Group.</p>
<p><strong>RWE and Commerzbank </strong><a href="https://www.rwe.com/en/press/rwe-ag/2022-06-20-german-offshore-electricity-for-medium-sized-industrial-companies" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a memorandum of understanding (MoU) to create a ‘Green Mittelstand Fund’ to provide medium-sized industrial companies in Germany access to green electricity</strong> generated by offshore wind plants. The new fund will offer these companies, for the first time, the opportunity to secure green electricity through long-term power purchase agreements. The wind farm is to have an installed capacity of around 1 GW. The companies would have to apply for a seabed for the wind farm within the framework of future tenders under the German Wind Energy at Sea Act&#8217;s planned amendment. These auctions are expected to take place in 2023. RWE plans to hold 51% of the shares in the wind farm, and the remaining 49% are to be offered to the interested medium-sized companies by Commerzbank via the ‘Green Mittelstand Fund.’ RWE will develop, build, and operate the wind farm. The company will commit to making the power generated there available to medium-sized companies. Commerzbank, on its part, plans to make green electricity directly available to its customers from medium-sized companies.</p>
<p><strong>The International Renewable Energy Agency (IRENA) and the OPEC Fund for International Development (OPEC Fund) </strong><a href="https://irena.org/newsroom/pressreleases/2022/Jun/IRENA-and-OPEC-Fund-Join-Forces-to-Unlock-Investment-in-Energy-Transition" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a memorandum of understanding </strong>to ramp up efforts to advance renewable energy investment and enable access to sustainable finance in emerging and developing economies. They have agreed to mobilize finance, unlock investment, and support project development on the ground. At a practical level, both sides will collaborate to provide technical assistance and capacity building to project developers, creating a pipeline of bankable projects ready to be financed. They will also work to attract potential investors. The parties will also explore cooperation under the IRENA-managed Energy Transition Accelerator Financing Platform, the Climate Investment Platform, and OPEC Fund initiatives such as the planned Energy Access and Transition Trust Fund. They will also closely collaborate at U.N. Climate Conferences COP27 in Egypt in November 2022 and COP28 in the United Arab Emirates in November 2023.</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: Regulator Allows ₹8.40/kWh Tariff for a Delayed Solar Project

<p><a href="https://www.sony.net/" target="_blank" rel="noopener noreferrer">Sony corporation</a>, an electronics and entertainment company, has announced to join RE 100 ahead of the Global Climate Action Summit (GCAS) in San Francisco, United States.</p>
<p><a href="http://there100.org/" target="_blank" rel="noopener noreferrer">RE 100</a> is a global initiative by companies committed to use 100 percent renewable energy. The initiative has brought around 140 multinational companies together to fight climate change.</p>
<p>Some of the other multinationals that have joined the RE 100 and committed to source 100 percent renewable electricity are the likes of McKinsey and Company and Royal Bank of Scotland (RBS).</p>
<p><a href="https://mercomindia.com/facebook-100-percent-renewables-2022/" target="_blank" rel="noopener noreferrer">Recently</a>, Facebook had also announced that it will power all its facilities, including office and data centers, with 100 percent clean and renewable energy by 2020.</p>
<p>According to an estimate, RE 100 members are creating demand for 182.4 TWh of renewable energy per year, which is more than enough to power a medium-sized country such as Thailand or Poland.</p>
<p>More companies are expected to join RE 100 as leaders from business, states, regions, and cities are meeting together for the GCAS this week in San Francisco.</p>
<p>&#8220;By stepping up and joining RE 100 these leading companies are saying loud and clear that 100 percent renewables are the solution &#8212; they reduce business risk and drive down greenhouse gas emissions,&#8221; the Climate Group CEO Helen Clarkson said in a statement.</p>
<p>Indian multinationals like Infosys have also joined the initiative. <a href="https://mercomindia.com/infosys-electricity-43-percent-renewable-energy/" target="_blank" rel="noopener noreferrer">Earlier</a>, the company announced that it has developed a total capacity of 46.1 MW of rooftop and ground-mounted solar projects across the country.</p>
<p>Mercom has often reported about how various multinationals in India are gradually turning to solar power to meet their increasing energy requirements in a self-sustaining manner.</p>
<p><a href="https://mercomindia.com/walmart-india-rooftop-solar-1-stores/" target="_blank" rel="noopener noreferrer">In July 2018</a>, <a href="http://www.wal-martindia.in/" target="_blank" rel="noopener noreferrer">Walmart India</a>, a wholly-owned subsidiary of Walmart Inc, said it is planning to incorporate sustainable sources such as solar energy, water harvesting, and recycling to run its stores in the country.</p>
<p><a href="https://mercomindia.com/microsoft-solar-deal-bengaluru/" target="_blank" rel="noopener noreferrer">In March 2018</a>, <a href="https://www.microsoft.com/en-in/" target="_blank" rel="noopener noreferrer">Microsoft</a> announced the completion of its first renewable energy deal in India. Under the agreement, the company will purchase 3 MW of solar-power from Atria Power for its new office building in Karnataka’s capital city, Bengaluru. It will meet 80 percent of the projected electricity needs through this energy purchase.</p>
<p>India plans to achieve 40 GW of <a href="https://mercomindia.com/rooftop-subsidy-delays-india/" target="_blank" rel="noopener noreferrer">rooftop solar</a> as part of its broader goal of achieving 100 GW of solar capacity across the country by 2022.</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/nitin/" class="vcard author" rel="author"><span class="fn">Nitin Kabeer</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft wp-image-9822" src="https://mercomindia.com/wp-content/uploads/2018/04/nitin-2.png" alt="" width="99" height="105" /><span style="font-family: Calibri"><span style="color: #000000"><span>Nitin is a staff reporter at Mercomindia.com and writes on renewable energy and related sectors. Prior to Mercom, Nitin has worked for CNN IBN, India News, Agricultural Spectrum and Bureaucracy Today. He received his bachelor’s degree in Journalism &amp; Communication from Manipal Institute of Communication at Manipal University and Master’s degree in International Relations from Jindal School of International Affairs. <a href="https://mercomindia.com/author/nitin/">More articles from Nitin Kabeer</a></span></span></span></p>
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Sony Corporation Joins RE 100 to Source 100% Renewable Power

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