Welcome to another issue of our new India x Cleantech series! On a monthly basis, we are pulling news from across clean technology sectors in India into a single, concise summary article about the country.
Acme Sells Stake In 250-Megawatt Solar Power Project To Foreign Investors
Acme Cleantech has sold a 49% stake in a 250-megawatt solar power project currently under development in the state of Rajasthan. Denmark’s IFU has acquired 39% on behalf of the Danish SGD Investment Fund while the United Nations’ Sustainable Infrastructure Impact Investments (S3i) has acquired 10% stake in the project.
Scatec Solar Buys 50% Stake In Acme’s 900-megawatt Solar Project
Scatec Solar has agreed to acquire a 50% equity stake in a 900-megawatt solar power project that Acme Cleantech is developing in the state of Rajasthan. The project was awarded to Acme in a 2018 auction conducted by the Solar Energy Corporation of India (SECI). Acme had quoted a record-low bid of Rs 2.44 (¢3.29) per kilowatt-hour.
1366 Technologies To Invest $300 Million In Solar Module Production In India
US-based 1366 Technologies is looking to invest $300 million to set up a facility in India for solar wafer and cell production. The company is backed by Bill Gates’ Breakthrough Energy Ventures and has North Bridge Venture Partners and Polaris Partners as investors. The company plans to set up the production facility under the Indian government’s production-linked incentive scheme and is looking for Indian companies to partner with.
Renewable Energy & Batteries
Indian Gas Utility Plans To Bid For 400 Megawatts Of Solar Power
GAIL will bid for 400 megawatts of solar power capacity in a tender issued by the Solar Energy Corporation of India (SECI). The capacity would be spread across three projects planned to be commissioned in the state of Madhya Pradesh. GAIL owns limited renewable energy capacity, mostly in the form of rooftop solar projects and some wind energy projects. The company, however, has been aggressively looking for acquisitions and partnerships.
Tata Group Commissions India’s Largest Solar Carport
Tata Power has announced that it has commissioned a solar-powered carport in Pune, Maharashtra, India. The company claims that the 6.2-megawatt carport is the largest of its kind in the country. The project, commissioned at Tata Motors’ plant, can generate 8.6 million kilowatt-hours of electricity and offset 7,000 tonnes of carbon dioxide emissions every year. The project is spread across 30,000 square meters and will be used as covered parking for finished cars manufactured by Tata Motors.
Reliance Group Plans $10 Billion Investment in Solar, Storage, & Hydrogen
Mukesh Ambani-led industrial conglomerate Reliance Industries has announced aggressive plans to invest more than Rs 750 billion over next three years to build manufacturing facilities for solar cells, energy storage, electrolyzers and fuel cells. All manufacturing facilities would be based in western state of Gujarat.
GE Bags 148.5-Megawatt Wind Turbine Order
GE Renewable Energy has bagged an order to supply 55 units of its 2.7 MW onshore wind turbine from Continuum Wind Energy. GE would also provide long-term maintenance to the project. Continuum had secured the project through an auction conduction by the Solar Energy Corporation of India. The project would be located in Gujarat.
Solex Energy Plans Module Production Expansion
Gujarat-based Solex Energy has placed an order for 1.2 gigawatts of module production equipment. The company plans to complete 600 megawatts of module production line by October this year and add another 600 megawatt subsequently. The company also plans to set up solar cell production capacity in the future.
Indian Railways Issues Tender For 740 Megawatts Of Solar Power
Railway Energy Management Company has floated a 740-megawatt solar power tender inviting bids from developers to set up projects across eight states. The majority of the capacity would be located in Gujarat (317 megawatts) followed by Bihar (109 megawatts), Rajasthan (84 megawatts), and Madhya Pradesh. Developers would be obligated to use only Indian-made solar cells and modules for these projects.
Gujarat Signs Contract For 2.5 Gigawatts Of Solar Power
Power distribution utilities in Gujarat have signed power purchase agreements with nearly 4,000 small-scale solar power projects with a total capacity of 2.5 gigawatts. The projects would be commissioned over the next 18 months. The size of each project will rage between 0.5 and 4 megawatts.
Module Manufacturer Goldi Plans 5-Gigawatt Production Capacity
Indian module manufacturer Goldi Solar has announced plans to expand its manufacturing capacity to 2.5 gigawatts by March 2022. It currently has a production capacity of 500 megawatts. The company eventually plans to have a production capacity of 5 gigawatts.