Here is an ongoing summary of short news stories of October and September 2022. These stories have not been covered elsewhere on this portal.
SJVN has won a 105-mw floating solar project through e-reverse auction held by Maharashtra State Power Generation Company (Mahagenco). The project was won at a tariff of Rs.3.93 per kwh, on BOO basis under a TBCB process by Mahagenco. The tentative cost for development of this project will be Rs.730 crore. The project will be commissioned within 15 months from the effective date of the PPA that will be signed between Mahagenco and SJVN. (October 20, 2022)
KP Energy has received order for providing erection and installation services for five Suzlon-make wind turbines (Model 5120) having a rated capacity of 2100kW and with hub height of 140m at the Vinjalpar site in Gujarat. The order was placed by ABREL Century Energy Ltd, the project developer. KP Energy shall provide services including loading and unloading of WTG materials at site, inter carting of WTG and erection and installation of the wind turbines. KP Energy has started performing its scope of works and the project is scheduled to be completed in Q3 of FY23, a release from KP Energy said. (October 19, 2022)
Avaada Group has signed a long-term contract with Israel-based Airtouch Solar for the maintenance of its solar modules using robotic cleaning solutions. The agreement, for a period of 25 years, will include the supply, erection, testing, commissioning, operation and maintenance of Airtouch robotic cleaning systems at Avaada solar farms. (October 13, 2022)
Tata Power Trading Company Ltd, a wholly owned subsidiary of Tata Power, and 75F Smart Innovations India Pvt Ltd have signed an agreement to jointly promote building automation and energy-efficiency solutions in the commercial building space across industry verticals like IT/ITeS, BFSI hospitality, healthcare, education, government and retail. The association will greatly help businesses optimize their energy consumption and usage. With this collaboration, TPTCL and 75F shall jointly offer solutions in the space of HVAC (heating, ventilation, and air conditioning) optimization and smart building automation powered by technologies like IoT, cloud and AI/ML. These solutions can help commercial buildings with centrally air-conditioned spaces attain savings on their HVAC energy consumption, which typically constitutes at least 50 per cent of a building’s total energy consumption. (October 13, 2022)
REC Power Development & Consultancy Ltd (RECPDCL), the bid process coordinator and a wholly-owned subsidiary of REC Ltd, has transferred the entire shareholding of ER-NER Transmission Ltd, currently held by RECPDCL, to Power Grid Corporation of India Ltd (PGCIL). The transfer took place on October 10, 2022. PGCIL, it may be mentioned, emerged as the successful bidder and was selected through the tariff-based competitive bidding (TBCB) route for development of the interstate transmission system (ISTS) project officially termed as “System Strengthening Scheme for Eastern and North Eastern Regions.” Accordingly, ER-NER Transmission Ltd has ceased to be a subsidiary of REC/RECPDCL, effective October 10, 2022. (October 11, 2022)
Sterlite Power Transmission Ltd, in a statement, announced the postponement of the company’s plans to go public through an initial public offering (IPO). Sterlite Power, which had filed the DRHP in August 2021, informed SEBI about the development and has requested to withdraw the DRHP. According to Pratik Agarwal, Managing Director, Sterlite Power, “Given the volatility in the current markets and the limited window available under the currently filed DRHP, Sterlite Power has decided to withdraw the DRHP. However, it remains observant of the market and will consider re-filing DRHP in the future. In the meantime, we are in conversation with large private capital institutions to grow the business.” (September 29, 2022)
Servotech Power Systems Ltd has been awarded a Letter of Intent by Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA) for a 1.8-MW off-grid solar project of different capacities across Uttar Pradesh. In this contract, valued at around Rs.30 crore, Servotech will be involved with design, manufacture, supply, erection, testing and commissioning of these off-grid solar plants, apart from O&M for five years. This is the second key project in line that Servotech has acquired from UPNEDA the 4.1 MW grid-interactive rooftop solar power plant project earlier in September 2022. (September 27, 2022)
Global investment firm KKR and Hero Future Energies (HFE), the renewable energy arm of the Hero Group, have announced the signing of definitive agreements under which KKR and the Hero Group will invest $450 million in HFE the Company. This investment will position HFE for continued growth and support its efforts to expand its renewable energy capacity and capabilities across technologies such as solar, wind, battery storage, and green hydrogen, and into new markets over time. Through its range of solutions, HFE will also look to support companies in their efforts to decarbonize and transition towards sustainable energy sources to achieve their net-zero emission goals. Founded in 2012, Hero Future Energies is a leading independent power producer in India with a diversified portfolio of 1.6GW of operating solar and wind projects. (September 20, 2022)
Vikram Solar has been awarded a 350 MW module supply order from a leading independent power producer in the United States. The project will be located in the state of Arizona. The new order further strengthens Vikram Solar’s presence in the US and it is aligned to the company’s commitment to accelerate the clean energy transition in this market, a company release said. According to the International Energy Agency, over the next 4-5 years the United States has the potential of adding up to 20-25 GW of solar energy annually, the release added. (September 20, 2022)
Adani Wind Energy MP One Pvt Ltd, a subsidiary of Adani Green Energy Ltd (AGEL) has commissioned a 324.4 MW Wind Power Plant in Dhar, Madhya Pradesh. The plant has two 25-year Power Purchase Agreements (PPAs) with SECI of 274.4 MW and 50 MW, at Rs.2.83 per kwh. With the successful commissioning of this plant, Adani Green Energy Ltd has increased its operational generation capacity to 6.1 GW. This places AGEL’s total renewable portfolio of around 20.4 GW, well on track to reach its vision of 25 GW capacity by 2025, AGEL said in a release. (September 19, 2022)
Servotech Power Systems Ltd has incorporated a subsidiary, Techbec Industries Ltd, which will be engaged in the manufacturing of batteries, particularly lithium-ion batteries, and other allied activities. The new subsidiary, in which Servotech will hold 63.5 per cent equity, was incorporated on September 12, 2022. Techbec will operate out of Servotech’s newly-setup manufacturing unit at Safiabad, Sonepat, Haryana. The facility which will shortly be operational is spread in 40,000 sqft and has the capacity to produce up to 6,00,000 units of battery pack annually. (September 17, 2022)
Atlas Copco has announced the appointment of Alexander Pavlov as General Manager for its Compressor Technique customer center in India. Alexander has been associated with the Atlas Copco group for almost 20 years. He is joining India’s office from the UK and Ireland teams, where he has been driving the compressor business for the last five years in these regions. In this new role, he will lead the compressor business with a clear vision to enhance the growth and strengthen the reach of Atlas Copco Compressors in India across regions. (September 7, 2022)
Servotech Power Systems has bagged an order worth Rs.23.50 crore from Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA). The order entails setting up of solar rooftops across secondary schools at several locations in Uttar Pradesh. The aggregate capacity to be developed is 4.1 mw and the order is scheduled for completion within four months, Servotech said in a release. The project is part of the Uttar Pradesh government’s “Samagra Shiksha Abhiyaan” – a scheme that seeks to integrate vocational education with general academic education. (September 6, 2022)
