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Energix signs long-term solar power deal with Google
Economic Times
·
11m ago
Medial
Energix Renewables has signed a long-term agreement with Google to supply electricity and renewable energy credits from its solar projects. The deal will initially involve supplying 1.5 GWp of solar project development to power Google's AI data centers, with an option for further expansion. As part of the agreement, Google will also provide tax equity to Energix, allowing the transfer of renewable energy credits under President Biden's Inflation Reduction Act. This move aligns with tech firms' growing interest in securing reliable and sustainable energy sources for their rapidly expanding data centers.
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Rajasthan inks MoUs with four CPSEs for setting up solar power, thermal, green hydrogen projects
Thehindubusinessline
·
1y ago
Medial
The Rajasthan government has signed memoranda of understanding (MoUs) with NTPC, CIL, NLC India, and SJVN for the development of solar power and green hydrogen manufacturing facilities. The agreements include the addition of supercritical units to the Chhabra Thermal Power Plant by NTPC and the exploration and execution of 4,100 MW power projects by Coal India. Additionally, the MoUs cover the formation of joint ventures for lignite-based and solar power plants, as well as long-term power usage agreements for solar power projects by NLC India and SJVN.
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SAEL Industries arm commissions 50 MW solar project in Maharashtra
Economic Times
·
10d ago
Medial
SAEL Industries' Solar RE Power subsidiary has launched a 50 MW solar power plant in Maharashtra’s Beed district. The ground-mounted project utilizes TOPCon bifacial modules for optimal energy yield and reliability. It aims to generate over 100 GWh of clean electricity annually, aligning with sustainable energy goals. A 25-year Power Purchase Agreement with Maharashtra State Electricity Distribution Company Limited ensures long-term revenue and tariff stability. SAEL is expanding its renewable energy footprint in India.
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Merchant misery: Why green power is finding little love on power exchanges
Livemint
·
1m ago
Medial
India's green energy firms like Adani Green Energy and ReNew Energy face challenges as solar power prices decline due to abundant supply and slow demand growth. This impacts merchant power, which includes 3 GW of installed or planned capacity. Merchant power is sold on exchanges or through short-term deals instead of long-term contracts. These companies have invested approximately ₹15,000 crore in such projects, struggling with the current pricing dynamics.
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Apple signs long-term chip technology agreement with Arm
Livemint
·
1y ago
Medial
Arm, the semiconductor technology firm, has extended its partnership with Apple in a long-term agreement beyond 2040, according to IPO documents filed with the US SEC. Apple is among ten cornerstone investors looking to purchase around $735 million of Arm shares. Other investors include Nvidia, AMD, Google, Intel, and more. Arm is offering 95.5 million American depository shares at $47 to $51 each, valuing the company at $54.5 billion. Arm was originally a joint venture involving Apple and has been a dominant player in mobile phone chip technology due to its low power consumption.
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SECI executes 60 GW of power sale pacts for renewable energy projects in 14 years
Economic Times
·
1m ago
Medial
State-owned Solar Energy Corporation of India (SECI) has executed over 60 GW of power sale agreements for renewable energy projects within 14 years. These agreements encompass a diverse array of solar, wind, and hybrid projects and ensure long-term power purchase commitments. SECI's efforts aim to bolster payment security for developers, enhance India's renewable capacity, and support the nation's clean energy objectives, including future initiatives in energy storage, green hydrogen, and advanced power models.
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IndiGrid to acquire ReNew Solar Aayan, Koppal Transmission for Rs 2,108 Cr
YourStory
·
2m ago
Medial
IndiGrid, India’s first infrastructure investment trust in the power sector, plans to acquire ReNew Solar Aayan and Koppal Narendra Transmission for about Rs 2,108 crore. IndiGrid will gain 100% stake and management control of both assets. The acquisition includes ReNew Solar Aayan, a 300 MW solar project in Rajasthan, and Koppal Narendra Transmission, a transmission project in Karnataka. The purchase will be funded by equity, internal accruals, and debt, aligning with IndiGrid’s long-term strategy.
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RPower Signs Power Purchase Pact in Bhutan With Green Digital
OutlookIndia
·
2m ago
Medial
Reliance Power has signed a power purchase agreement with Green Digital Pvt Ltd, owned by Bhutan’s Druk Holding and Investments, to jointly develop Bhutan's largest solar power project with a capacity of 500 MW. This venture, with an estimated investment of 2,000 crore rupees, marks the biggest private foreign direct investment in Bhutan’s solar sector. The initiative aims to diversify Bhutan's energy portfolio, enhance grid stability, and boost regional clean energy integration across South Asia.
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IFC commits $105 million for Brookfield’s Bikaner solar power project
Livemint
·
1y ago
Medial
The International Finance Corporation (IFC) will invest $105 million in a 550 MWp solar power project in Bikaner, Rajasthan, developed by Brookfield Asset Management. This investment will enable Brookfield to provide solar power to commercial and industrial consumers in India at competitive tariffs. The project will sell the generated power to consumers through long-term power purchase agreements and the merchant market. This investment by IFC aims to demonstrate the viability of large-scale renewable energy generation and the sale to corporate and industrial clients, contributing to India's decarbonization goals.
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Partners Group-backed Sunsure Energy signs 300MW power deal with SECI | Company Business News
Livemint
·
6m ago
Medial
Sunsure Energy has secured its first utility-scale solar power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) for 300 megawatts (MW) of renewable energy. The project, a solar park in Bikaner, Rajasthan, costing ₹1,800 crore, aims for completion by December next year. This agreement, part of SECI’s Tranche XIII auction, significantly marks Sunsure’s expansion into utility segments, complementing its focus on commercial and industrial clients, aligning with India's power transition goals.
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BluSmart signs deal with Tata Power; moves to solar power for all EV charging needs
Economic Times
·
1y ago
Medial
Indian electric ride-hailing startup BluSmart has partnered with Tata Power to power its fleet of electric cabs with solar energy. Under the agreement, Tata Power will supply 30MW to BluSmart's entire fleet of 6,000 electric cabs in Delhi NCR and Bengaluru. The electricity will be sourced from Tata Power's 200MW solar plant in Rajasthan and the agreement is for 20 years. This move will help BluSmart eliminate its Scope 2 emissions and reduce its electricity costs. BluSmart plans to expand its fleet to more than 10,000 cabs over the next few quarters and reach over 20,000 cabs by the end of 2025.
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