Japan’s Jera Co, a joint venture between Tokyo Electric Power Group (TEPCO) and the Chubu Electric Power Group, has acquired a 10% stake in Indian renewables firm ReNew Power Ventures Private Limited.
Jasmeet Khurana, associate director, consulting, Bridge to India, shares his views on what the record breaking tariffs for 750MW solar in Madhya Pradesh mean for India's entire power sector.
After 33 hours of bidding, Mahindra Renewables, Acme Solar and Solenergi Power have emerged triumphant in the 750MW solar auction in Madhya Pradesh, with the lowest price smashing records at just INR2.97/kWh (US$0.044) in year one before an annual escalation kicks in.
This week's Movers & Shakers segment features a company rebrand, a global expansion for India's Adani and good news for US solar, which has experienced 25% jobs growth year-on-year.
Indian solar tariffs have reached a paradigm shifting new low after the final reverse auction round for 750MW capacity in Madhya Pradesh followed through into a nail biting second day.
PV manufacturing equipment specialist M10 Industries said its new ‘Kubus MTS 5000’ stringer tool has been installed and commissioned at Emmvee's Bangalore module assembly plant, providing a 340MW increase in capacity at its existing facility.
News in Brief: NRG commissions a 3.15MW Florida solar plant with Lakeland Electric, Power Africa reaches 30,000 new solar connections in Nigeria, PayGo solar company Azuri nets US$5 million for off-grid expansion in Africa, UPS will expand its solar capacity five-fold and India's BHEL bags its biggest single rooftop PV order.
The first round of bidding for the 750MW Rewa solar park in the Indian state of Madhya Pradesh has guaranteed that the highest tariff will be no more than 3.64 rupees per unit (US$0.054).
On its way to a targeted 175GW of renewable energy installations by 2022, India has now surpassed 50GW of deployment, according to data from the Ministry of New and Renewable energy (MNRE).
