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Uttar Pradesh Government Sanctions Green Hydrogen Policy and Partners with NTPC on ?8,624 Crore Sustainable Energy Initiatives
The Uttar Pradesh government recently approved a pioneering green hydrogen policy aimed at transitioning from conventional hydrogen production methods to more sustainable green hydrogen production. To encourage the establishment of green hydrogen industries, the government has introduced a range of incentives and subsidies worth ?5,045 crore for businesses setting up operations within the next five years. These benefits include capital expenditure subsidies ranging from 10% to 40% for the first five industries, along with a 100% rebate on intrastate electricity charges and exemptions on transmission charges for interstate transactions. In a related development, the cabinet also sanctioned the construction of two 800 MW power units in Anpara, Sonbhadra district, in collaboration with the National Thermal Power Corporation (NTPC), at an estimated cost of ?8,624 crore.
NHPC Announces 1,200 MW Solar Power Project in Uttar Pradesh with ?796.96 Crore Investment, Aiming for Completion in Two Years
The National Hydroelectric Power Corporation (NHPC) disclosed ambitious plans for a large-scale solar power venture in Uttar Pradesh, signaling a significant step towards renewable energy expansion. It was revealed that Prime Minister Narendra Modi ceremonially initiated the commencement of the 1,200 MW Jalaun Ultra Renewable Energy Power Park via a virtual platform. Located in Orai, within the Jalaun district, this substantial project represents a strategic move by NHPC to diversify its portfolio, traditionally focused on hydropower. This green energy project, set to unfold through the efforts of Bundelkhand Saur Urja Ltd, a subsidiary of NHPC, involves an investment of approximately ?796.96 crore.
Tata Power Solar Systems Limited and Union Bank Renew Partnership to Accelerate Rooftop Solar Adoption Among Residential Consumers
Tata Power Solar Systems Limited (TPSSL), a prominent solar company in India and a wholly-owned subsidiary of Tata Power Renewable Energy Limited (TPREL), has announced the renewal and expansion of its partnership with Union Bank of India (UBI). under the renewed scheme, loan limits have been extended up to ?15 lakh for residential and ?16 crore for C&I customers, with financing options up to 80% and 85% respectively. Notably, both categories will benefit from collateral-free financing options, easing the transition to solar energy. The loan tenure has also been extended up to 10 years, providing households and businesses with ample time for repayment.
BluPine Energy Enhances Portfolio with Acquisition of 369 MW Solar Assets from ACME Group
BluPine Energy, a prominent Indian renewable energy firm established by the global sustainable infrastructure investor Actis, has significantly expanded its portfolio by acquiring 369 MW of solar energy assets from the Acme Group. This acquisition increases BluPine Energy’s total renewable capacity to an impressive 2.4 GW, underscoring its commitment to enhancing sustainable energy solutions in India. The deal encompasses solar capacity assets housed within 14 special-purpose vehicles located in the states of Uttarakhand, Punjab, and Karnataka.
SJVN Green Energy Limited Wins 200 MW Solar Project Bid in Gujarat’s Khavda Solar Park
SJVN Green Energy Limited (SGEL), a subsidiary of the prominent energy company, has won a bid to develop a 200 MW solar power project. This project is part of the larger Gujarat State Electricity Corporation Limited (GSECL) Solar Park initiative, which is located in Khavda, Gujarat, and encompasses a total capacity of 1,125 MW. The bidding process was organized by Gujarat Urja Vikas Nigam Limited (GUVNL) and took place on February 2, 2024, with SGEL securing the entire 200 MW at a competitive tariff of ?2.66 per unit. This endeavor is set to be developed on a Build Own and Operate (BOO) basis, with an estimated construction and development cost of around ?1,100 crore. The project aims to generate approximately 504 million units (MUs) of electricity in its first year, reaching a total of about 11,732 MUs over 25 years.
ReNew Energy’s Possible Divestiture Of 350 MW Solar Projects To Sembcorp
ReNew Energy Global Plc is reportedly in discussions with Singapore’s Sembcorp Industries Ltd for the sale of its solar energy projects, which have a total capacity of 350 MW. The deal is estimated to be worth approximately $241 million at the enterprise level and $121 million in equity, according to sources familiar with the matter. Previously, a broader agreement to sell 1.1 GW of ReNew’s energy assets, including both solar and wind projects, did not materialize due to disagreements over the valuation of the wind assets. Torrent Power had also shown interest in these assets with a non-binding offer but the current discussions are focused solely on the solar projects, leaving out the 750 MW of wind power assets.
NLC India Limited Launches NLC India Green Energy Limited, Signs 600 MW Solar PPA with GUVNL
NLC India Limited (NLCIL) has incorporated a wholly owned subsidiary NLC India Green Energy Limited (NIGEL), NLCIL has won a 600 MW Solar Power Project tender in the GSECL Khavda Solar Park, floated by GUVNL through a competitive bidding process. In line with the policy of developing RE projects under the green energy wholly owned subsidiary (WoS), the project development has been vested with NIGEL. The entire power from the project will be procured by GUVNL with the PPA tariff for the electricity from the project at ?2.705/kWh. |
