Page 2 - Solar Energy Corporation Of India

SECI weighs criminal action against Reliance Power over fake bid documents

SECI said on Wednesday that the bank guarantee submitted by the unit, Reliance NU BESS, was also fake

Reliance Power shares drop 5% after it gets debarred from SECI for 3 yrs

Shares of Reliance Power Ltd fell by 5 per cent on Friday as the company and Reliance NU BESS Ltd have been debarred from participating in Solar Energy Corporation of India Ltd (SECI) tenders for three years for allegedly submitting "fake documents". The stock tanked 4.99 per cent to Rs 41.47 -- its lower circuit limit -- on the BSE. On the NSE, shares of the firm dropped 5 per cent to hit the lowest trading permissible limit for the day at Rs 41.58. In a note, SECI said, "Based on the examination of documents submitted by Maharashtra Energy Generation, now known as Reliance NU BESS (for a project), it was discovered that as per the tender requirements, the endorsement of the Bank Guarantee against EMD (issued by a foreign Bank), as submitted by the Bidder, was fake." The issue is related to the RfS issued by SECI for setting up 1000 MW/2000 MWh Standalone BESS Projects under tariff-based competitive bidding. Since the above discrepancy was discovered subsequent to the e-reverse .

Electrolyser manufacturing: RIL, Adani, L&T win incentives in maiden tender

The tender was floated under Centre's Green Hydrogen Mission

Adani Green signs PPA for 8,000 Mw solar power with Solar Energy Corp

With this, Adani Green now has tied up PPAs of 19.8 gigawatt (Gw). The balance in its 20.6 Gw locked-in portfolio is merchant capacity, the company said

JSW Energy, SECI sign agreement for 300 MW wind power projects

JSW Energy has signed a power purchase agreement with Solar Energy Corporation of India Ltd (SECI) for wind projects totalling 300 MW. The PPA is signed for supply of power for a period of 25 years with a tariff of Rs 2.94 per kilowatt (KWh), JSW Energy said in a statement on Friday. "JSW Renew Energy Three, a wholly-owned step-down subsidiary of JSW Energy, has signed PPA with SECI for 300 MW ISTS-connected wind power projects awarded under SECI Tranche-XII," it said. The projects are located in Maharashtra and expected to be commissioned in next 24 months, the company said. The company has set a target to reach 20 GW capacity by 2030 and 10 GW by 2025. With a total locked-in capacity of 9.9 GW, JSW Energy is well placed to achieve its targets well ahead of time. In addition, the company has made a foray into energy storage space and has currently locked in 3.4 GWh of energy storage capacity by means of battery energy storage system and hydro pumped storage project.

India to triple renewable projects auctions as 2030 green target looms

The nation is accelerating project installations to hit a goal to have 500 gigawatts of clean energy generation capacity in 2030

Corporate funding in global solar sector grows 11% to $8.4 bn in Jan-Mar

Corporate funding in the global solar sector increased 11 per cent year-on-year (y-o-y) to USD 8.4 billion in January-March period of 2023, according to a Mercom Capital report. Corporate funding includes venture capital, debt and public market financing. "The investments in the solar sector bucked the trend in Q1 despite tough economic conditions. The Inflation Reduction Act in the US is a significant driver for investments in solar. The fundamentals are solid, driven by strong demand for the energy transition worldwide, especially in Europe and the United States," said Raj Prabhu, CEO of Mercom Capital Group. Total corporate funding into the solar sector in the first quarter of 2023 calender year came to USD 8.4 billion compared to USD 5.4 billion in the fourth quarter of 2022. Funding increased 11 per cent y-o-y compared to USD 7.5 billion raised in Q1 2022, the report said. During January-March 2023, global VC funding was at USD 2.1 billion in 18 deals, 75 per cent higher compa

India's non-fossil power generation touches 174 GW in 2022: R K Singh

India's non-fossil fuel-based power generation capacity was at 174.53 gigawatt (GW) at the end of December 31, 2022, Parliament was informed on Tuesday. The country's total power generation capacity, including 235.81 GW from the thermal base, was at 410 GW at the end of 2022, Minister for Power, New and Renewable Energy R K Singh said in a written reply to the Rajya Sabha. "So far, a total of 174.53 GW power generation capacity from non-fossil fuel-based energy resources has been installed in the country as on 31.12.2022," he said. The capacity includes 63.30 GW solar power, 46.85 GW large hydro, 41.93 GW wind power, 10.73 GW bio power, 4.94 GW small hydro power and 6.78 GW nuclear power. In another reply, the minister said 2,97,609 million units (MU) energy from various sources of renewable energy in the April-December period of 2022-23. At 1,37,903 MU, large hydro projects alone contributed 46.3 per cent to the total renewable energy generation during the said period, followed b

JSW Energy arm bags two battery energy storage system projects from SECI

Energy storage system of 500 MW/1,000 MW means 500 MW of battery energy can provide power backup for two hours, giving total output of 1,000 MW

Indian govt wants solar manufacturers to bid for $2.4 billion in aid

The state-run Solar Energy Corp. of India is seeking bids from solar manufacturers for 195 billion rupees of financial incentives, according to documents published on the agency's website

Adani Green commissions 325-MW wind power project in Dhar district of MP

Adani Green Energy Limited has commissioned a 325-megawatt wind energy plant in Dhar district of Madhya Pradesh. With the commissioning of this plant, its operational generation capacity has increased to 6.1 gigawatt (GW), Adani Green Energy Limited (AGEL) said in a statement on Monday. "Adani Wind Energy MP One Private Ltd (AWEMP1PL), a subsidiary of AGEL, has commissioned a 324.4 MW wind power plant in Dhar, Madhya Pradesh," it said. The plant has two 25-year Power Purchase Agreements (PPAs) with Solar Energy Corporation of India (SECI), one for 274.4 MW energy and another for 50 MW power, at a tariff of Rs 2.83 per kwh (kilowatt hour). The newly commissioned plant will be managed by the Adani Group's 'Energy Network Operation Centre' platform, which provides technological assistance. In the statement, the company did not disclose any financial details of the project. According to industry estimates, to set up every 1 MW of solar capacity, an investment of over Rs 4.5 crore is

Centre's plan on sale of RE power to states offers only a flickering hope

The power ministry's plan to become an intermediary in the sale of green power generation to states is only a limited solution to the larger problem facing state discoms

ReNew Power raises $1 billion through ECB for battery-enabled project

Gurgaon-based ReNew Power has raised a $1-billion project loan through external commercial borrowings, tying up with 12 international banks for the finance.

JSW Energy subsidiary gets order for 300 MW wind capacity from Solar Energy

The company bagged the project in a tariff-based competitive bids invited by SECI for setting up of 1,200 MW ISTS-connected wind power projects (Tranche - XII), it said.

New round of solar PLI to have 3 schemes for different product categories

Plans to include highest corpus to polysilicon manufacturing

Adani Green inks agreement with SECI to supply 4,667 MW green power

The AGEL-SECI agreement to supply 4,667 MW is part of a manufacturing-linked solar tender of 8,000 MW awarded to AGEL by SECI in June 2020

Adani Green Energy inks pact with SECI to supply 4,667 MW renewable energy

Adani Green Energy (AGEL) has inked a pact with state run Solar Energy Corporation of India (SECI) to supply 4667 MW of green energy. According to a company statement, this is the world's largest ever green power purchase agreement (PPA). "This is yet another step in our journey to enable India's dual objective to accelerate India's renewable energy footprint as well as promote domestic manufacturing under the Aatmanirbhar Bharat programme, said Gautam Adani, Chairman of the Adani Group. Following the proceedings at COP 26, it is increasingly evident that the world has to equitably transition to a low carbon economy faster than previously anticipated, he noted. This is why the Adani Group has committed USD 50-USD 70 billion of investment in the renewables space. This agreement keeps us well on track to our commitment to become the world's largest renewables player by 2030," Adani added. The AGEL-SECI agreement to supply 4,667 MW is part of a manufacturing-linked solar tender of 8,

Tata Power bags solar project worth Rs 945 cr from Solar Energy Corp

The contract involves building 100 MW EPC solar project along with 120 MWh utility scale battery energy storage system

Azure Power signs 600 MW purchase agreements with SECI under 4 GW Projects

Azure Power announced that it has signed Power Purchase Agreements (PPAs) for 600 MW ISTS connected solar power projects with Solar Energy Corporation of India (SECI)

SECI invites expression of interest for 1GWh battery energy storage system

This will be discussed in the pre-bid conference scheduled to be held on 28th October 2021 at 4 pm