Average Tariff of $0.086/kWh Revealed in France’s 1.5 GW Solar Auction

Brookfield to Invest $845 Million in Renewables JV with Axis Energy in India

RUMSL Floats Tender to Develop 750 MW Wind-Solar Hybrid Projects

THDC Invites EoIs from Land Aggregators for Empanelment in Solar Park Program

Sterling and Wilson Wins EPC Contract for 300 MW Solar Project from NTPC

KP Energy Bags BoS Contract for 464 MW Wind Projects in Gujarat

Abu Dhabi’s IHC to Divest its Shares in Adani Renewable and Transmission Arms

Daily News Wrap-Up: Maharashtra Invites Bids to Procure 1.92 GW of Solar Power

Global Investments in Clean Energy to Reach $1.8 Trillion in 2023: IEA

Maharashtra Floats Tenders to Procure 1.92 GW of Solar Power


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					</table><p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>The Uttar Pradesh Government approved the &#8216;Solar Energy Policy, 2022,</strong><strong>&#8216; revising its proposed target upwards to 22 GW of solar capacity by FY 2026-27. </strong><strong>The government had </strong><a href="https://mercomindia.com/uttar-pradesh-proposes-to-install-16-gw-solar/" target="_blank" rel="noopener"><strong>proposed</strong></a><strong> a 16 GW solar capacity target in its draft policy earlier this year</strong>. The approved target capacity includes 14 GW of utility-scale power projects, 6 GW of rooftop solar projects, and 2 GW of distributed solar projects. The Uttar Pradesh New and Renewable Energy Development Agency (<a href="http://upneda.org.in/" target="_blank" rel="noopener">UPNEDA</a>) has been designated the nodal agency for implementing the policy.</p>
<p><strong>The Himachal Pradesh Electricity Regulatory Commission </strong><a href="https://hperc.org/new1/File/ghanvi27-2022.pdf" target="_blank" rel="noopener"><strong>determined</strong></a><strong> a project-specific levelized tariff of ₹3.16 (~$0.038)/kWh for the Ghanvi-II small hydro project, which will be applicable from the commercial operation date, i.e., April 3, 2014.</strong> Himachal Pradesh State Electricity Board had filed a petition with the regulatory body for the determination of capital cost and project-specific levelized tariff for the sale of power from Ghanvi II, a 10 MW small hydropower project located on Ghanvi river in the Shimla district of Himachal Pradesh.</p>
<p><strong>Larsen &amp; Toubro </strong><a href="https://www.larsentoubro.com/pressreleases/2022-11-24-lt-construction-wins-a-significant-order-for-its-heavy-civil-infrastructure-business/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> an order from the Greenko group for civil and hydromechanical works to develop an off-stream pumped storage project in Madhya Pradesh.</strong> The project will be executed within 30 months through a consortium led by Larsen &amp; Toubro. Upon completion, the project will be one of India&#8217;s largest clean energy projects of its type. The Gandhisagar project, designed to meet a pumped storage capacity of 10,080 MWh, envisages the creation of an upper reservoir near Khemla block village in Madhya Pradesh while the existing Gandhisagar reservoir will be the lower reservoir.</p>
<p><strong>The Al Kharsaah, an 800 MW solar power project in Qatar, <a href="https://www.prnewswire.com/news-releases/light-up-qatars-carbon-neutral-world-cup----800mw-solar-power-plant-in-qatar-constructed-by-powerchina-connected-to-the-grid-301686633.html" target="_blank" rel="noopener">achieved</a> grid connectivity at full capacity.</strong> The project, located 80 km west of Doha, is said to be the world&#8217;s largest solar project using a tracking system and bifacial modules. It is also the third-largest single-location solar power project in the world. Qatar hopes to use this project to promote clean energy development in the country. Al Kharsaah can supply 10% of Qatar&#8217;s peak power consumption and offset 26 million tons of CO2 emissions over its lifetime.</p>
<p><strong>ib vogt, a Berlin-headquartered solar developer, <a href="https://www.ibvogt.com/home/vogt-news/ib-vogt-starts-construction-on-149-mwp-project-in-spain-signs-ppa-with-google.html" target="_blank" rel="noopener">started</a> the construction of the 149 MW Garnacha solar power project located in the province of Zamora in Spain.</strong> The company signed a power purchase agreement (PPA) with Google for 12 years, and the project is expected to be commercially operational by October 2023. The project is located near the city of Toro and covers an area of 224 hectares of land. With an output of up to 300 GWh per year, the project would provide electricity equivalent to the average consumption of 85,000 households while saving up to 50,000 tons of CO2 per year.</p>
<p><strong>Harmony Energy, a UK-based renewables developer, <a href="https://www.harmonyenergy.co.uk/general/harmony-energy-income-trust-brings-europes-largest-battery-energy-storage-system-online/" target="_blank" rel="noopener">announced</a> the successful commissioning of the 196 MWh – Pillswood project in East Yorkshire in the UK. </strong>The project has deployed a Tesla two-hour megapack system, which can store up to 196 MWh of electricity in a single cycle. The project site is located adjacent to National Grid&#8217;s Creyke Beck substation, the same connection point proposed for phases&#8217; A&#8217; and &#8216;B&#8217; of the world&#8217;s largest offshore wind farm, Dogger Bank, which is set to become operational in summer 2023. The project will be operated through Autobidder, Tesla&#8217;s algorithmic trading platform, which has demonstrated its efficiency in managing the Holes Bay and Contego projects – two existing battery storage projects also developed by Harmony Energy.</p>
<p><strong>Voltalia, an international player in the renewable energy space</strong><strong>, </strong><strong><a href="https://www.voltalia.com/news-releases/news-release-details/voltalia-signs-350-megawatt-solar-power-supply-contract-renault" target="_blank" rel="noopener">announced</a></strong><strong> the signing of a contract with the Renault Group to supply 350 MW of solar power, representing </strong>approximately 500 GWh per year. The agreement is considered one of France&#8217;s largest renewable electricity supply contracts. Renault Group has announced its intention to accelerate the decarbonization of its plants in France, and the agreement with Voltalia will enable them to cover up to 50% of the electricity consumption of its production activities in France by 2027. Voltalia will install 100 MW of solar panels at its sites in France starting in 2025.</p>
<p><strong>AMEA Power </strong><a href="https://ameapower.com/amea-power-to-expand-the-capacity-of-its-solar-project-in-togo-creating-west-africas-largest-solar-plant/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the expansion of the &#8216;Sheikh Mohamed Bin Zayed Solar Power Project&#8217; in Togo from 50 MW to 70 MW, making it the largest solar project in West Africa</strong>. Located in the village of Blitta, the project will provide power to more than 222,000 households and include a 4 MWh battery energy storage system. Phases 1 and 2 of the project were fully developed by AMEA Power during the COVID-19 pandemic and took less than 18 months to complete from their initial inception. Both project phases became operational in June 2021.</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/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</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/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a>
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Daily News Wrap-Up: Uttar Pradesh to Install 22 GW Solar Capacity by FY27

<p>From: <a href="https://mercomcapital.com/project-finance-brief-voltalia-sells-stake-solar-project/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>STOA Infra and Energy, an investment fund specialized in infrastructure projects, </strong><a href="https://mercomcapital.com/voltalia-sells-minority-stake-solar-project-brazil-stoa/"><strong>acquired</strong></a><strong> a 33% equity stake in the SSM1&amp;2 solar projects in Brazil developed and owned by Voltalia, </strong>a renewable energy producer. The project is currently under construction and scheduled to come online in the first half of 2022. SSM1&amp;2 is backed by five power sales contracts with an average duration of 16 years. SSM1&amp;2 is a part of the Serra Branca cluster, which is developed by Voltalia in the Brazilian state of Rio Grande do Norte. It is the largest wind and solar cluster with a potential capacity of 2.4 GW. Voltalia is the controlling shareholder of a significant part of the projects located in the region, with the other projects divested to partners.</p>
<p><strong>German renewable energy developer PNE has </strong><a href="https://mercomcapital.com/pne-sells-280-mw-solar-projects-romania-us/"><strong>sold</strong></a><strong> two solar PV projects in Romania and the U.S. with a total capacity of around 280 MW. </strong>Israel-based Econergy International acquired the 81 MW solar project in Romania, which is under development in Oradea. Econergy expects to continue the further realization of the project. The second project is a 199 MW solar PV project in the early development stage in the U.S., which has been acquired by an undisclosed operator in the U.S. Upon completion, the project’s second phase can achieve a nominal output of 398 MW in Utah. With these two transactions, PNE is implementing its strategic development towards becoming a Clean Energy Solutions Provider. These are the first PV projects that could be sold as part of the expanded strategy.</p>
<p><strong>ThomasLloyd </strong><strong>Energy Impact Trust, the renewable energy investment trust, has </strong><a href="https://www.investegate.co.uk/thomaslloyd-energy/rns/update-re-solararise-acquisition/202203150700047451E/"><strong>received</strong></a><strong> approval for the acquisition of a 43% economic interest in SolarArise India Projects Private Limited (SolarArise), </strong>which owns seven solar power projects in India with a total capacity of 434 MW. The acquisition is expected to be completed in the second quarter of 2022. Consideration of $34.6 million for the acquisition will be settled via the issuance of ordinary shares in the Company. Completion of the acquisition is subject to the remaining completion conditions.</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/">here</a>.</p>
<p>Read last week&#8217;s project finance <a href="https://mercomindia.com/project-finance-brief-gore-street-acquires-storage-project/">brief</a>.</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/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>

Project Finance Brief: Voltalia Sells Minority Stake in its 320 MW Solar Project in Brazil

<p>From: <a href="https://mercomcapital.com/project-finance-brief-luxcara-acquires-solar-project-belectric/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>German renewable-energy company Luxcara has </strong><a href="https://tinyurl.com/mercomlxcr" target="_blank" rel="noopener noreferrer"><strong>acquired</strong></a><strong> a 172 MW solar project being developed in Germany from BELECTRIC. Luxcara has selected BELECTRIC to build and operate the project. </strong>BELECTRIC will start constructing the project in the municipalities of Tramm and Lewitzrand in the state of Mecklenburg-Western Pomerania before the end of this year and slated for completion by 2021. The solar project will produce enough green electricity to supply the equivalent of around 50,000 homes annually.</p>
<p><strong>OPDEnergy, a company specializing in the development, financing, construction, and operation of renewable assets, has </strong><a href="https://www.opdenergy.com/en/2020/11/03/opdenergy-closes-with-cifi-the-financing-deal-for-a-portfolio-of-pmgd-projects-in-chile/" target="_blank" rel="noopener noreferrer"><strong>announced</strong></a><strong> an agreement with Corporación Interamericana para el Financiamiento de Infraestructura (CIFI) for the financing of its portfolio of solar PV </strong>projects under the PMGD (small-scale distributed generation PV installations) plan in Chile. For the initial project package, CIFI has granted a senior bank loan to OPDEnergy for the development, construction, and operation of three projects &#8211; Litre, Lingue, and Llay Llay. All the projects are in the Chilean region of Valparaiso and will have a total installed capacity of 17 MW.</p>
<p><strong>Sonnedix, an independent solar power producer, has </strong><a href="https://www.sonnedix.com/news/sonnedix-grows-its-italian-portfolio-reaching-249-mw-of-operating-capacity" target="_blank" rel="noopener noreferrer"><strong>acquired</strong></a><strong> a portfolio of four ground-mounted solar PV projects from ICS Srl, a renewable energy developer in Italy. </strong>The 4 MW portfolio, located in Sicily, is in commercial operations since 2010, under the Italian Conto Energia (feed-in tariff) plan.</p>
<p><strong>German energy company RWE Renewables has </strong><a href="https://www.group.rwe/en/investor-relations/news-and-ad-hoc-announcements/news/news-2020-11-03" target="_blank" rel="noopener noreferrer"><strong>completed</strong></a><strong> the acquisition of Nordex’s European onshore wind and solar development platform for approximately €400 million (~$467 million). </strong>This comprises a development pipeline of 2.7 GW in France, Spain, Sweden, and Poland.</p>
<p><strong>NextEra Energy Partners </strong><a href="https://tinyurl.com/mercomnaai"><strong>announced</strong></a><strong> that it has entered into an agreement with a subsidiary of NextEra Energy Resources to acquire a 40% interest in an approximately 1,000 MW renewables portfolio and a 100% interest in a 100 MW solar-plus-storage project.</strong> Following the acquisition, NextEra Energy Partners will contribute interests in the acquired projects and four existing renewables assets to a new portfolio.</p>
<p><strong>Poland’s R.Power has </strong><a href="https://www.pv-tech.org/news/project-round-up-r.power-bags-financing-for-polish-solar-farms-baywa-r.e.-sells-subsidy-free-spanish-facility" target="_blank" rel="noopener noreferrer"><strong>secured</strong></a><strong> funding to construct a portfolio of solar farms in the country with a total capacity of 183 MW. Santander and mBank have provided PLN 530 million (~$136 million) that will be used to finance the projects that R.Power won in recent solar auctions, </strong>with the company saying it will sign 15-year contracts to provide them with guaranteed tariffs for the electricity generated.</p>
<p><strong>Voltalia, a renewable energy power producer, has </strong><a href="https://tinyurl.com/mercomvlta" target="_blank" rel="noopener noreferrer"><strong>signed</strong></a><strong> a share purchase agreement to acquire a 70% controlling stake in a portfolio of four solar projects totaling 57 MW in Jordan built, maintained, and partially developed by Voltalia since 2015. </strong>The portfolio bought by Voltalia includes three 11 MW projects located in Ma’an and a 24 MW located in Mafraq, for a total of 57 MW. The solar projects benefit from a 20-year public-utility PPA signed in 2016. Revenues are dollarized and guaranteed by the Government of Jordan for the full duration of the PPA.</p>
<p><strong>BayWa r.e., a renewable energy project developer, has </strong><a href="https://tinyurl.com/mercombywa" target="_blank" rel="noopener noreferrer"><strong>sold</strong></a><strong> its Tordesillas solar project in central Spain to Commerz Real, a German investment company.</strong> The 41.7 MW solar project is the first solar investment for Commerz Real’s new impact fund Klimavest. It has a 10-year power purchase agreement (PPA) in place with Statkraft, which was signed earlier this year, despite the COVID-19 pandemic that has also struck the market for PPAs.</p>
<p><strong>Cypress Creek Renewables, a developer and owner of solar generating assets, has </strong><a href="https://tinyurl.com/mercomcypw" target="_blank" rel="noopener noreferrer"><strong>completed</strong></a><strong> a tax equity buyout and refinancing of project-level debt for 92 MW of its solar portfolio across North Carolina, making Cypress Creek the sole owner of these projects.</strong> BNP Paribas acted as the primary lender and lead arranger for the transaction. Cypress Creek was represented by Kirkland &amp; Ellis as its lead transaction counsel and by Kilpatrick Townsend &amp; Stockton as its North Carolina counsel.</p>
<p><strong>Allianz Global Investors, a diversified active investment manager, has </strong><a href="https://www.solarpowerportal.co.uk/news/allianz_sells_99mw_uk_solar_portfolio_to_greencoat_for_undisclosed_amount" target="_blank" rel="noopener noreferrer"><strong>sold</strong></a><strong> its 99 MW UK solar project portfolio to a private equity firm Greencoat Capital for an undisclosed amount. </strong>Comprised of three PV solar plants across Cambridgeshire, Worcestershire, and Norfolk, the projects form part of Allianz&#8217; entire global renewable energy portfolio, worth approximately £1.35 billion (~$1.95 billion) of assets under management.</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 noreferrer"><strong>here</strong></a>.</p>
<p>Read last week’s project finance <a href="https://mercomindia.com/project-finance-brief-atlas-solar-project/" target="_blank" rel="noopener noreferrer"><strong>brief</strong></a>.</p>
<p>Image credit: Photo by <a href="https://unsplash.com/@vfigueira?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText" target="_blank" rel="noopener noreferrer">Vasco Figueira</a> on <a href="https://unsplash.com/?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText" target="_blank" rel="noopener noreferrer">Unsplash</a></p>
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Project Finance Brief: Luxcara Acquires a 172 MW Solar Project in Germany from BELECTRIC

<p>The African Development Bank (<a href="https://www.afdb.org/en/" target="_blank" rel="noopener">AfDB</a>) has approved a senior loan of $18.17 million for the development of 50 MW Kopere solar power project in Nandi County, Kenya.</p>
<p>The project also includes the construction of a 33/132 kV substation, and a 1.8 km transmission line to evacuate the power generated to the national grid.</p>
<p>“This project could potentially be Kenya’s first utility-scale solar PV project under the Feed in-Tariff (FiT) policy. We are confident that the provision of long-term and concessional financing to support the project with terms that are unavailable from commercial sources will have an important demonstration effect in attracting more investors to engage with Kenya’s vast solar opportunities”, said Amadou Hott, Vice-President of AfDB for Power, Energy, Climate Change and Green Growth.</p>
<p>It is expected that the project will generate around 106 GWh per year and supply electricity to 600,000 households. It is also expected to save 1,081 kilo-ton equivalent of carbon dioxide in green house gas emissions annually. It will help achieve Kenya’s Intended Nationally Determined Contributions (INDC) for climate resilient growth.</p>
<p>Wale Shonibare, AfDB’s director for Energy Financial Solutions, Policy and Regulation said, “By providing access to quality energy at a cost below the current generation costs in Kenya, the Kopere project will diversify Kenya’s energy mix, and ultimately contribute to reduced dependence on fossil fuels.”</p>
<p>The bank is also in the process of securing a $11.6 million concessional loan from the Climate Investment Fund’s Scaling-up Renewable Energy Program (SREP).</p>
<p>The solar power project is owned by <a href="http://www.voltalia.com/en" target="_blank" rel="noopener">Voltalia</a>, an international renewable energy company listed on the Paris Stock Exchange.</p>
<p>Africa has lately become the hotbed of renewable energy investments and AfDB has been on the forefront. <a href="https://mercomindia.com/adb-220-million-loan-solar-souh-africa/" target="_blank" rel="noopener">Recently</a>, AfDB also approved a senior loan of ZAR 3 billion (~$220.3 million) to the 100 MW Redstone concentrated solar power project. The project is located in the Humansrus Solar Park, in the Northern Cape Province of South Africa and is expected to generate 466 GWh/year.</p>
<p><a href="https://mercomindia.com/african-development-bank-solar-loan/" target="_blank" rel="noopener">Earlier</a>, Mercom also reported that AfDB approved a $1.5-million grant from the Sustainable Energy Fund for Africa (SEFA) to support the Nigerian government’s implementation of Phase 1 of the Jigawa 1-GW Independent Power Producer (IPP) Solar Procurement Program.</p>
<p><a href="https://mercomindia.com/afdb-loan-renewable-energy-projects/" target="_blank" rel="noopener">Last year in December</a>, AfDB approved $324 million (~₹20.84 billion) in loan for two renewable energy projects. The projects were being developed in Morocco and Côte d’Ivoire.</p>
<p>Image credit: Flickr</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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