Here is an ongoing summary of short news stories of August and July 2022. These stories have not been covered elsewhere on this portal.
Jaipur-based RMC Switchgears Ltd, in a stock exchange communication, said that it has received an order valued at Rs.10.46 crore from a power utility in Andhra Pradesh. The supplies will be made in the next two quarters, RMC said without giving any further details on the order. (August 24, 2022)
Jakson Group has become the only Indian manufacturer to be ALMM empanelled for its 600Wp solar modules using M10 half cut cell technology. The Ministry of New & Renewable Energy recently released its seventh update to the approved list of models and manufacturers (ALMM) for solar modules. Earlier, Jakson’s polycrystalline and monocrystalline were already in the approved list of MNRE. (August 23, 2022)
TP Renewable Microgrid Ltd (TPRMG), a wholly-owned subsidiary of Tata Power, and Small Industries Development Bank of India (SIDBI), have joined hands to launch an innovative program that will see 1,000 green energy enterprises established throughout the nation. Under the collaboration, SIDBI will provide entrepreneurs a “Go REsponsive, ENterprise incentive (GREENi)” after they complete a TPRMG-organized capacity building activity. Through its PRAYAAS scheme or partner institutions, SIDBI will also assist in credit linkages to facilitate financing (loans) for setting up or expanding the businesses of rural entrepreneurs. To provide these rural businesses with quality, affordable, dependable and clean green energy (solar/wind/bio-gas), TPRMG will discover suitable entrepreneurs within its existing Microgrid network as well as in new geographies. (August 23, 2022)
Tata Power and JP Infra Mumbai Pvt Ltd have joined hands to install 60+ electric vehicle charging points across all JP Infra’s projects in Mumbai, thus providing end-to-end EV charging solutions to residents for making sustainable mobility achievable. Residents with electric vehicles will have access to a 24×7 charging facility and can connect through the Tata Power EZ mobile application for all services, including remote vehicle charging monitoring and e-payments, a release from Tata Power said. Tata Power has also worked with the National Real Estate Development Council (NAREDCO) of Maharashtra to install up to 5,000 charging stations for EVs in Maharashtra and more than 150 charging stations powered by clean energy, in Mumbai, the release added. (August 10, 2022)
SJVN has secured a 200-mw solar power project through e-reverse auction by Maharashtra State Electricity Distribution Company Ltd. The project was won at a tariff of Rs.2.90 per kwh, on BOO basis. This ground mounted solar project shall be developed by SJVN anywhere in Maharashtra through EPC contract. The project, estimated to cost Rs.1,200 crore, will be commissioned within 18 months from the date of signing of PPA. (August 6, 2022)
NTPC, in a stock exchange filing, announced that the fifth and final part of 48.8 mw of the Fatehgarh solar PV project at Jaisalmer in Rajasthan has been declared commercially operational effective August 5, 2022. With this, the 296-mw Fatehgarh solar project now stands fully commissioned. This has taken NTPC’s commercial capacity to 54,818 mw and NTPC Group’s commercial capacity to 69,183 mw. (August 5, 2022)
Uttar Pradesh Electricity Regulatory Commission (UPERC) has reportedly approved the takeover of South East UP Power Transmission Company by Resurgent Power Ventures Pte Ltd, a joint venture involving Tata Power, ICICI Bank and international investors. It may be recalled that in February 2021, the resolution professional of South East UP Power Transmission Company Ltd (SEUPTCL), has issued a letter of intent selecting Resurgent Power Ventures as a successful resolution applicant under IBC proceedings. Resurgent Power had put in a bid of Rs.3,251 crore to acquire the stressed asset. (August 4, 2022)
The Ministry of Corporate Affairs (MCA) has approved the amalgamation of Nabingar Power Generating Company Ltd and Kanti Bijlee Utpadan Nigam Ltd, with NTPC Ltd. The two companies are both wholly-owned subsidiaries of NTPC Ltd. As both the companies as in the same business as that of NTPC, which is power generation, the proposed amalgamation is expected to provide synergy of operation, reduction in overhead expenditure and effective managerial and administrative control, an official MCA document said. (August 3, 2022)
Jaikumar Srinivasan assumed charge as Director (Finance) at NTPC Ltd, on July 21, 2022. Prior to this, Srinivasan served as Director (Finance), in NLC India. Before his service in NCL India, he served as Director (Finance) at Maharashtra State Electricity Distribution Company Limited (MSEDCL) and Director (Finance) in the MSEB Holding Company Ltd in August 2017. He has more than 30 years’ of experience in the power and mining sector in State and Central PSUs in the areas of finance, accounts, taxation, commercial, electricity regulation, renewables, IT and project development, including eight years of experience as a board member. (July 22, 2022)
NHPC has signed an MoU with Damodar Valley Corporation (DVC) to consider the formation of a joint venture company for exploring and setting up hydropower and pump storage projects. The MoU heralds a new dawn in co-operation between the two power sector organizations in jointly harnessing the hydropower projects and pump storage projects as energy storage solutions in line with the national objective of energy transition, which is 500 GW of renewable energy by 2030 and “net zero” by 2070. The MoU envisages joint development of mutually identified projects. (July 21, 2022)
The Rajasthan government has approved the setting up of two units of 660-mw each at the Chhabra thermal power station of Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RVUNL), the state government-owned power generation utility. Besides, one new unit of 800-mw has also been approved at RVUNL’s Kalisandh thermal power plant. The total investment for the three ultra supercritical coal-fired units, is around Rs.15,660 crore. (July 21, 2022)
The board of PTC India Financial Services Ltd (PFS) in its meeting on July 16, 2022, has sanctioned proposals of aggregate value of Rs.595 crore that will be used for solar and other infrastructure projects, PFS said in a stock exchange filing. PFS added that there would be disbursement of around Rs.800 crore in July 2022, arising from the Rs.595-crore sanctioned and all the existing loans sanctioned. (July 18, 2022)
Enphase Energy, a leading supplier of microinverter-based solar and battery systems, announced the commissioning of its first project, as part of Trinity Care Foundation’s (TCF) Integrated School Educational Infrastructure Development Program (ISEIDP), which forms part of Enphase India’s Corporate Social Responsibility (CSR) related activities in India.
The pilot project was inaugurated on July 9, 2022 at Karnataka Public School, Kudur, Ramanagara District, Karnataka. Enphase India, as a part of its CSR responsibilities under Indian law, is supporting ISEIDP which is the first-of-its-kind initiative to use renewable energy sourced from rooftop solar PV systems to power a school while uplifting the curriculum with computer and robotic training by providing access to computers, course materials, and trainers for students.
Supported by the school management and the Education Department, Enphase Energy will be equipping the higher primary classrooms with desktops and projectors that will be powered by a 4kV rooftop solar PV micro-inverter-based hybrid system (See photograph). All the lights, fans, and computer systems will be supported in case of power breakdown or failure.
Enphase Energy will also be supporting the schools’ curriculum by providing the students access to computers, STEAM, and Robotics classes that will be taught throughout the academic year by a teacher who is also supported by this program. (July 14, 2022)
TP Saurya Ltd (TPSL), a wholly owned subsidiary of Tata Power, received the ‘Letter of Award’ (LoA) from Solar Energy Corporation of India (SECI) for setting up a 600-mw hybrid (wind and solar) power project in Karnataka. The letter was awarded through tariff-based competitive bidding followed by an e-reverse auction. The project will be commissioned within 24 months from the PPA execution date. With this win, the total renewables capacity of Tata Power reaches 5,524 mw, with 3,634 mw installed and 1,890 mw under various stages of implementation. (July 13, 2022)
Power Finance Corporation (PFC) signed a loan agreement for JPY 30 billion with Japan Bank for International Cooperation (JBIC) on July 7, 2022. JBIC provided this long term facility to PFC under JBIC’s initiative titled ‘Global action for Reconciling Economic growth and Environmental preservation’ (“GREEN”), wherein JBIC provides financing for projects which ensure the effective reduction of greenhouse gas emissions and conservation of the global environment. Thus, the funds under the facility would be used by PFC to finance its renewable energy portfolio. The loan agreement was signed by R.S. Dhillon, CMD, PFC and Kazushige Gobe, Director General, Social Infrastructure Finance Department, JBIC. (July 7, 2022)
Kalpataru Power Transmission Ltd (KPTL) announced that it has completed the acquisition of the remaining 15 per cent equity stake in Linjemontage i Grastrop AB, a Swedish EPC company (“LMG”) headquartered in Grastrop, Sweden. The acquisition was made by Kalpataru Power Transmission Sweden AB, a wholly-owned subsidiary of KPTL. Following this transaction, completed on July 7, 2022, LMG is now a wholly-owned step-down subsidiary of KPTL. LMG is engaged in power T&D, substations and O&M of electricity network services. (July 7, 2022)
Power management company Eaton has announced it has completed the acquisition of a 50 per cent stake in the circuit breaker business of Jiangsu Huineng Electric Co., Ltd. (Huineng), which manufactures and markets low-voltage circuit breakers in China. Jiangsu Huineng Electric Co., Ltd. is a Chinese high-tech electrical equipment manufacturer. Founded in 2007 and headquartered in Zhenjiang, China, its products are widely used and recognized across key markets including wind and solar and power plants, a release from Eaton said. (July 5, 2022)
