After request for an extension from the prospective bidders, Gujarat Urja Vikas Nigam Limited (GUVNL) has extended the deadline for submission of bids for 1000 MW Renewable Energy projects, i.e., wind and solar power based RE projects. The prospective bidders requested for an extension due to the limited bid submission time period and the lack of clarity on GST rates.
GUVNL has now extended the deadline from 10th July 2017 to 8th August 2017..
The Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) has recently reported evacuation of 5079 MW of wind power, sources report.Â The sustained two hour wind power evacuation of over 5000 MW is a new record in Tamil Nadu and India.
According to the sources, Enercon GmbH, the German wind turbine manufacturer has recently signed three non-exclusive agreements with Renom Energy Services, Kintech Synergy and Powercon Ventures to seek cooperation for undertaking O&M activities, i.e., for the repair, maintenance and service, of its numerous wind turbines installed in India.
As per the terms of agreements, Enercon will not only provide spare parts/equipments to its O&M partners but will also offer comprehensive technical support and training to ensure deliverance of supreme service quality.
The PTC India Limited (PTC), Indiaâ€™s largest power trading organization, has recently signed MoU with Kongsberg Digital AS of Norway, a part of the 200 year old Kongsberg group, sources report.
As per the MoU, PTC will facilitate Kongsbergâ€™s entry into the Indian renewable energy sector by marketing ‘Empower’, a wind forecasting, condition monitoring and performance monitoring software developed by Kongsberg Digital.Â Kongsberg is expected to focus on the wind power sector, and to further explore digitalization opportunities in the renewable energy sector.
ICRA in its recent study has revealed a positive long term demand outlook for Renewable Energy.Â According to the sources, ICRA has credited REâ€™s positive demand outlook to the improving cost competitiveness of wind and solar power generation projects, and also to the supportive policies of the Central and respective State Governments which have kept the pace of Renewable Energy development in the country.
The National Renewable Energy Laboratory (NREL) of the U.S. Department of Energy has reaffirmed the technical and economic viability of integrating 175 Giga Watts (GW) of Renewable Power into the Indian grid by the year 2022, sources report.
The wind power tariffs are expected to hit a new record low of around Rs. 3.30 per unit in the 1 Giga Watt (GW) Renewable Energy tender to be floated by the Solar Energy Corporation of India (SECI), reports the sources.
SECI will conduct auction for 1000 MW RE capacity under the Inter-State Transmission System (ISTS) scheme once it resolves a few pending issues with Central Electricity Regulatory Commission (CERC) on the matter of better risk mitigation.
According to the sources, after a petition filed by Jeena & Co. for non-payment for services, the National Company Law Tribunalâ€™s (NCLT) Chandigarh bench has passed an order clearing way for insolvency of Inox Wind.
The case has been the first of its kind in the Renewable Energy sector in India.
The state-owned power producer NLC India, formerly known as Neyveli Lignite Corporation, is diminishing its reliance on lignite by heavily investing into Renewable Energy based power generation projects in an attempt to boost its topline growth, sources report.Â The company intends to finance the Renewable Energy projects from the internal accruals.Â It estimates an investment of Rs 6 to 7 crores per MW for installing wind energy projects.
The GE Energy Financial Services (GEEFS) is reported to be in talks with Avaada Power, a firm promoted by Vineet Mittal, for expansion of its Renewable Energy portfolio in India.Â Â GEEFS is exploring investment opportunities in the Renewable Energy projects of Avaada.
In an attempt to augment its strategy to promote Renewable Energy infrastructure in India, and to develop the capital markets, the International Finance Corporation (IFC), World Bankâ€™s private-sector arm, has invested Rs 667 crore ($103 million) in L&T Infrastructure Finance Company Ltd.Â IFC has subscribed to Indiaâ€™s first issue of green bonds.
L&T Infrastructure is a wholly owned unit of L&T Finance Holdings Ltd.
ReNew Power Ventures Pvt. Ltd., a clean energy company led by Sumant Sinha and supported by Goldman Sachs, is reported to be in talks with Orange Renewable for exploring avenues to acquire its portfolio of a little over 600 MW for an estimated Rs 6175 crore ($950 million) of enterprise valuation.Â The portfolio predominantly consists of wind power assets with a less significant share of solar, sources report.
Greenko Energy Holdings, the India-based developer of renewable energy projects, after acquiring the solar power portfolio of SunEdison India is all set to launch Asiaâ€™s largest a green bond to raise $1 billion, sources report.
Sunil Mathur, managing director and chief executive of Siemens India reportedly said it would be too early to declare if renewable energy, specifically solar power, could sustain at current rates, sources report.Â According to him, the biggest challenge would be the feasibility of renewable power to be fed into the grid.
According to the sources, Suzlon Group will supply 24 of its 90 m S111 2.1 MW wind turbines to the Saudi developer Alfanar Group for its 50.4 MW wind farm in India.Â The project is expected to be completed by March 2018.
The Tamil Nadu Generation and Distribution Company (TANGEDCO) has ambitious projections to tap 15,000 MW renewable energy, two years from now.Â Â TANGEDCO expects to tap to its fullest potential when the dedicated inter-state green power corridor becomes operational.