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Solar Power Projects
ACME Solar Holdings Ltd, India's leading renewable energy producer, on Monday said its 300 MW solar project in Rajasthan continues to be fully supported by dedicated transmission capacity and is not facing any evacuation constraints. Some solar projects in the state currently supply power under the temporary general network access (T-GNA) framework, as their associated transmission systems are yet to be commissioned. Those constraints are not faced by ACME. ACME Solar Holdings Ltd said its 300 MW solar project developed by ACME Sikar Solar Pvt Ltd and connected to the Bikaner-II substation has received General Network Access (GNA) effectiveness approval for long-term access and is currently evacuating its full capacity of 300 MW. "As the project holds confirmed and effective GNA status (long term GNA) now, it now continues to be fully supported by dedicated transmission capacity and is not subject to the evacuation constraints," the firm said in a statement. ACME Solar also said t
Inox Wind on Wednesday said it has entered into an agreement with KP Energy for jointly developing 2.5 GW of wind-solar hybrid projects in multiple states across the country. Under the Memorandum of Understanding (MoU) with KP Energy, Inox Wind Limited (IWL) along with its subsidiaries will supply wind turbine generators and associated equipment, provide engineering support including USS design, transformer specifications, and foundation design, and will execute pre-commissioning, commissioning and O&M of wind turbine generators, Inox Wind said in a statement. KP Energy will undertake project development activities such as securing connectivity, land and right-of-way, obtaining statutory approvals, and executing balance of plant and EPC (engineering, procurement and construction) works, the statement said. "The synergies between Inox Wind's manufacturing excellence, engineering depth and product reliability, and KPE's extensive on-ground development experience enables both ...
ACME Solar Holdings on Monday said that its arm ACME Aklera Power Technology has secured Rs 47.40 crore as "change in law compensation" for a 250-MW solar project in Rajasthan. The ruling of the Rajasthan Electricity Regulatory Commission (RERC) for the project contracted with SECI is expected to benefit with an additional revenue of 3.5 per cent for 15 years, a company statement said. The awarded amount includes "compensation towards imposition of basic customs duty on solar cells and modules, increase in GST from 5 per cent to 12 per cent and carrying cost". "The total amount is to be received through an annuity mechanism at a discount rate of 9 per cent over a period of 15 years, ensuring fair recovery of unforeseen regulatory cost increases and protecting project economics," it said. According to ACME Solar, the case sets a precedent for regulatory certainty and project development cost stability in the renewable energy industry. "The RERC's timely adjudication and directions
Renewable energy player Goldi Solar on Wednesday said it has raised over Rs 1,400 crore in a funding round led by consumer electrical goods maker Havells India Ltd. Besides, various high-net-worth individuals (HNIs), institutional and strategic investors have participated in the capital infusion, the Gujarat-based module maker said. In a statement, Goldi Solar said it has "secured a landmark growth capital infusion led by Havells India, alongside a distinguished consortium of high-net-worth individuals (HNIs), institutional, strategic, and prominent investors." The company has raised a total of Rs 1,422 crore from multiple investors, and the capital will be used to fund future growth plans. Other prominent investors and family businesses are Ambit Global Private Client, Nikhil Kamath, Shahi Exports Pvt Ltd, SRF Transnational Holdings Ltd, Karmav Real Estate Holdings LLP, NSFO Ventures LLP, and Godwitt Construction Pvt Ltd. According to market sources, Havells has infused Rs 600 cr
Reliance Industries will commence solar power generation in the first half of the next financial year from its mega renewable energy project in Kutch, Gujarat, a site spread over an area nearly three times the size of Singapore. The project is part of the oil-to-telecom conglomerate's broader push towards clean energy and achieving net-zero carbon emissions by 2035. In an investor presentation post announcement of its second quarter earnings, Reliance said project development across the 5,50,000-acre site in Kutch is progressing well, with engineering and feasibility studies completed, and the site is currently in various stages of land development. "Expected to start commissioning solar generation during the first half of the next year for captive requirements plus green fuels production," it said. Four years ago, Reliance Chairman and Managing Director Mukesh Ambani announced a USD 10 billion investment in a 'new energy' business. That was seen as a notable change of tide, given
CESC Green Power is in the process of investing Rs 5,000 crore across various segments of clean energy, including a 3 GW solar cell/module plant. CESC Green Power is a wholly-owned subsidiary of CESC Ltd, a RP-Sanjiv Goenka Group company. "CESC Green Power Ltd is in the process of setting up Solar Cell / Module and other value chain/ancillary manufacturing across various locations in India, including a 3+ GW solar cell/module plant, battery manufacturing, a 60 MW RE power plant, and various ancillary units, with an estimated total capital investment of up to Rs 5,000 crore," CESC said in an exchange filing. CESC Ltd said it will provide all necessary financial support to CESC Green Power Ltd to ensure the successful financial closure and implementation of the project. The investment support will include equity infusion, strategic assistance, and facilitating institutional funding, it added. Kolkata-based CESC is into the generation, transmission, and distribution of electrical pow