Solar Projects

NHPC to invest Rs 5,500 cr in setting up 1,000 MW solar project in Bihar

NHPC Ltd, India's largest hydropower company, will invest Rs 5,500 crore in setting up a 1,000 megawatt solar power project in Bihar, its chairman and managing director Raj Kumar Chaudhary said Friday. The firm signed an MoU with the state government for the investment at the Bihar Business Connect 2024 investor summit here. "We have proposed to invest Rs 5,500 crore in setting up a 1,000 MW solar power project," he said. The project could be set up in 1.5-2 years from the date of land acquisition. "Land is crucial for solar projects. And we would urge the state government to facilitate land acquisition so that we could do the project on time," he said. The company has almost 7 gigawatts of operational hydropower plants and 9.3 gigawatts of capacity is under construction, according to its website. Chaudhary said NHPC is also proposing to set up a small solar plant, electricity from which would be used to make green hydrogen. "The green hydrogen produced will be used to power pas

Inox Green, Inox Wind shares gain up to 4% on Group's foray into solar mfg

Inox Green rose up to 4.40 per cent to hit an intraday high of Rs 182.50 per share, while Inox Wind increased as much as 1.60 per cent to an intraday high of Rs 211.50 per share

Tata Power Renewables Energy commissions 431 MW DC solar project in MP

Tata Power on Tuesday said its arm Tata Power Renewables Energy has commissioned a 431 MW DC Solar project in Neemuch, Madhya Pradesh. Spanning across 1,635.63 acres, the project features a unique combination of single-axis trackers and bi-facial modules, thereby setting a new benchmark for solar energy generation in India, a Tata Power statement said. This innovative integration has boosted the efficiency of the entire system by over 15 per cent, enabling peak power supply for extended hours, it added. "We are thrilled to announce the successful commissioning of the 431 MW DC solar project in Neemuch," Deepesh Nanda, CEO and Managing Director, Tata Power Renewable Energy Ltd, said. The project contributes to sustainability with an estimated CO2 offset of 7,80,300 tonnes. "This project not only demonstrates the viability of cost-effective solar energy, with a winning bid price but also highlights the potential of sustainable energy solutions to drive India's green energy transitio

Govt signs pact for solar projects in Fiji, Comros, Madagascar, Seychelles

This development comes after India committed to invest $2 million in new solar projects in these Indo-Pacific countries under Quad Climate Working Group initiative

Pralhad Joshi stresses on increasing solar projects efficiency, reduce cost

Union Minister Pralhad Joshi on Tuesday stressed increasing the efficiency of solar projects, reducing cost and developing energy storage solutions. Addressing a conference of the International Solar Alliance, Joshi urged stakeholders to focus on integration with smart technologies and noted that the growth of the solar industry would boost economic development. Joshi who is also President of the 120-nation grouping, said, "Let me give you five reasons why platforms like these matter. It is because the best brains of the business assemble to hold discussions for increased efficiency, cost reduction, energy storage solutions, integration with smart technologies and economic growth and job creation." The session was held alongside the 7th General Assembly of the International Solar Alliance and attended by international delegates. The growth of the solar industry boosts economic development by creating jobs in manufacturing, installation, and maintenance of solar systems, Joshi said,

Tata Power Renewable, IndusInd Bank partner to finance solar projects

Tata Power Renewable Energy Ltd has partnered with IndusInd Bank to offer financing options to Micro and Small Enterprises (MSEs) for solar installations. This alliance will provide MSEs with collateral-free solar financing, by offering loans ranging from Rs 10 lakh to Rs 2 crore, Tata Power Renewable Energy said in a statement on Tuesday. These loans, contingent on the bank's credit approval, require a 20 per cent margin and come with competitive interest rates, offering terms of up to 7 years, the company said. Deepesh Nanda, CEO & MD, Tata Power Renewable Energy said, "Through a partnership with IndusInd Bank, we are facilitating easy financing opportunities for MSEs (Micro and Small Enterprises) to adopt solar energy, which will not only help them reduce operational costs but also actively contribute to the green energy transition." Various public and private sector lenders are tied up with solar players to provide finance options for commercial and residential solar ...

Avaada Energy closes Rs 597 crore refinancing for solar projects

The refinancing was secured from NIIF Infrastructure Finance Limited (NIIF IFL), an infrastructure debt fund dedicated to refinancing operational infrastructure projects

Madhya Pradesh, Uttar Pradesh partner to develop 8 Gw solar power plants

These projects would supply power to each state during high demand seasons, alternating every six months

PMEA Solar submits papers to Sebi for Rs 600 cr IPO; 11.2 mn shares on sale

PMEA Solar IPO: The funds raised through the fresh issue will be allocated towards capital expenditure and debt repayment

ISA partners with MIGA to fund Solar Energy projects in Sub-Saharan Africa

MIGA and ISA will work together to launch solar power and distributed energy projects in eligible developing countries

Alpex Solar announces plan to double PV module capacity to 2.4 GW by FY26

Solar solutions provider Alpex Solar on Wednesday announced its expansion plans to double its photovoltaic solar module capacity to 2.4 GW by FY2025-26. A greenfield project of 1.2 GW solar PV modules capacity will be installed in the company's newly acquired land parcel at Kosi Kotwan, Mathura in Uttar Pradesh, a statement said. The company will also explore a foray into solar cell manufacturing in the range of gigawatt capacity. The new project will be funded through internal accruals and loans. Once the new line is set up, the company expects a capacity of 2.4 GW by FY2026, enabling it to meet the growing demand in India and other key global markets. The company aims at deeper integration with the solar cell foray building upon its presence in solar PV modules and aluminium frames. Ashwani Sehgal, Managing Director, Alpex Solar said, "We are exploring the foray into solar cell manufacturing. This may afford us multiple advantages, including cost, profitability, and branding, an

JSW Neo Energy bags additional 400 MW wind-solar hybrid project from MSEDCL

JSW Energy on Thursday said its wholly-owned subsidiary JSW Neo Energy has secured an additional 400 MW wind-solar hybrid project from Maharashtra State Electricity Distribution Company (MSEDCL). Subsequent to this, the cumulative capacity allotted to JSW Neo under Phase- III (of MSEDCL) stood at 600 MW, a company statement said. According to the statement, JSW Neo Energy, a wholly-owned subsidiary of JSW Energy (company), has received Letter of Award (LoA) for an additional 400 MW of Wind-Solar Hybrid Power Project under greenshoe option from MSEDCL against MSEDCL Phase III. The company, however, did not disclose any financial details. Following this capacity award, the total locked-in generation capacity of JSW Energy has increased to 17.6 GW, which includes a total locked-in Hybrid capacity of 3.2 GW (including FDRE). The company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently. JSW Energy has total locked-in generation capacity of 1

JSW Neo Energy bags 200 MW wind-solar hybrid project from from MSEDCL

JSW Energy on Tuesday said its arm JSW Neo Energy has received a letter of award (LoA) for setting up a wind-solar hybrid power project from Maharashtra State Electricity Distribution Company (MSEDCL). The 200 MW wind-solar hybrid power project was awarded to JSW Neo Energy in a tariff-based competitive bid, a JSW Energy statement said. As a result of this capacity award, the company's total locked-in generation capacity has increased to 17.2 GW, which includes a total locked-in hybrid capacity of 2.9 GW (including FDRE), the statement said. JSW Energy has a total locked-in generation capacity of 17.2 GW comprising 7.5 GW operational, 2.3 GW under construction across wind, thermal and hydro and RE pipeline of 7.3 GW (PPAs signed for 2.3 GW). The company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently. The company also has 4.2 GWh of locked-in energy storage capacity through battery energy storage systems and hydro-pumped storage ...

North India's largest floating solar project commissioned in Omkareshwar

The largest floating solar project in central and north India generating 90 MW energy has been commissioned at Omkareshwar in Madhya Pradesh, a state minister has said. The Omkareshwar Floating Solar Project, costing Rs 646-crore, was commissioned on August 8, state Renewable Energy Minister Rakesh Shukla said in a statement. This project was developed under the Union Ministry of Renewable Energy and it is the biggest solar park in India and largest floating solar project in central and north India, he said. The project is executed by SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN, the minister said, adding that on the commissioning of the project, the total installed capacity of SJVN has increased to 2466.50 MW. The project is likely to generate 196.5 million units of electricity in the first year and 4,629.3 million units in the 25 years, he said. After commissioning, the project will reduce carbon emissions by 2.3 lakh tonnes and contribute significantly to

Torrent Power up 5% on pact with ARS, TU14 for solar projects in Tamil Nadu

The rise in the stock price came after Torrent Power entered into a deal with ARS Steels & Alloy International and Torrent Urja 14 for setting up 50 MWp solar projects in Tamil Nadu (TN)

Adani Green Energy bags $400 mn finance from int'l banks for solar project

Adani Green Energy Ltd (AGEL) on Thursday said it has secured USD 400 million finance from a consortium of five international banks for its under construction solar projects of 750 MW in Gujarat and Rajasthan. These projects are expected to come online from November 2024 onwards, a company statement said. One of the projects is being developed in Rajasthan with 500 MW capacity and has a long-term power purchase agreement (PPA) with Solar Energy Corporation of India (SECI). The second one, with 250 MW capacity, is a standalone merchant power project being implemented at the world's largest RE cluster in Khavda, Gujarat. The consortium of lenders includes Cooperative Rabobank U.A., DBS Bank Ltd, Intesa Sanpaolo S.p.A., MUFG Bank, Ltd., and Sumitomo Mitsui Banking Corporation. AGEL has 10,934 MW operational portfolio, largest in India, delivering reliable, affordable, and clean power to the national grid. AGEL's operational portfolio consists of 7,393 MW solar, 1,401 MW wind and 2,14

Avaada Energy inks refinancing deal worth Rs 4,471 crore with NaBFID

Avaada Energy on Thursday said it closed a refinancing deal of Rs 4,471 crore with National Bank for Financing Infrastructure and Development (NaBFID) for its four solar projects in Rajasthan. The financing from NaBFID will enable Avaada Energy to prepay existing loans to multiple lenders. The facility, sanctioned and disbursed as a 20-year rupee term loan, achieves significant commercial improvements over the earlier facilities prepaid, the company said in a statement. "Avaada Energy is pleased to announce the successful closure of one of the largest refinancing transactions in India's renewable energy sector, securing about Rs 4,471 crore (USD 535 million) from the state-owned lender NaBFID," the statement said. This refinancing transaction, conducted under Restricted Group (RG) structure, encompasses four inter-state transmission system-connected solar projects with a combined capacity of 1,700 MWp. The structure has been rated as 'AA (Stable)' by CareEdge Ratings, it said. Vine

SJVN receives 1,352 MW solar energy projects worth Rs 7,436 crore

State-owned power producer SJVN arm SJVN Green Energy has secured 1,352 MW solar power projects, entailing an investment of Rs 7,436 crore. "SJVN has received Letter of Awards (LoA) for 1,352 MW Solar Power Projects to be developed through SJVN Green Energy Ltd (SGEL), a wholly-owned subsidiary of SJVN," a company statement said. According to the statement, these LoAs have been received in the presence of Maharashtra Deputy Chief Minister Devendra Fadnavis, SJVN Director (Finance) Akhileshwar Singh and SGEL CEO Ajay Singh in Mumbai. SJVN Chairman and Managing Director Geeta Kapur informed that these projects of 1,352 MW will be developed at various locations in Maharashtra -- Nashik, Solapur, Ahmednagar and Pune under Mukhya Mantri Saur Krushi Vahini Yojana 2.0. The projects have been bagged by SGEL through a competitive bidding process in a tender floated by MSEB Agro Power Limited, Maharashtra. The total capacity of the tender was 7,000 MW and SGEL participated for 1,500 MW -- 5

IndiGrid acquires solar power plant at an enterprise value of Rs 1,550 cr

Infrastructure investment trust IndiaGrid on Friday said it has completed the acquisition of 300 MW solar project at an enterprise value of Rs 1,550 crore. With this asset addition, IndiGrid's portfolio now consists of 19 solar projects across eight states of the country with a total generation capacity of 1.1 GWp. IndiGrid's total Assets Under Management now stands at Rs 28,200 crore, an IndiGrid statement said. "IndiGrid, India's first and largest listed power sector infrastructure investment trust (InvIT), today announced that it has consummated transaction of 300 MW AC solar asset for an enterprise valuation of around Rs 15,500 million, exclusive of net working capital and cash adjustments, in line with the share purchase agreement that was signed in January 2024," it said. This acquisition has been funded through a combination of equity, internal accruals, and debt and will add Rs 80 crore of net distributable cash flow, to IndiGrid, every year. The net debt/AUM will be 63 pe

SJVN gets LoI for 200 MW solar project form Gujarat Urja Vias Nigam

State-owned SJVN Ltd on Wednesday said it has received a letter of intent from Gujarat Urja Vias Nigam Ltd to set up a 200 megawatt (MW) solar power project. The tentative cost of construction and development of this project is Rs 1,100 crore, SJVN CMD Geeta Kapur said in a company statement. "SJVN has received the Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for 200 MW Solar Power Project in GUVNL Phase XXII," it said. The ground-mounted solar project shall be developed by SJVN subsidiary SJVN Green Energy Limited (SGEL) anywhere in India through an EPC contract. The Power Purchase Agreement (PPA) shall be executed with GUVNL after the adoption of the tariff by GERC (Gujarat Electricity Regulatory Commission), it said. The project shall be commissioned in a period of 18 months from the date of signing of PPA. This PPA shall be signed between GUVNL and SGEL for 25 years, SJVN added. The project is expected to generate 508.4 million units in the first year