Table of contents

1. A trillion-dollar opportunity at stake
2. The secret recipe
3. Winning the first hearts
4. Building the dream team
5. Tackle the challenges head-on

The company has signed 24 PPAs since 2019, including for over 800 MW of capacity that is now operational. It has contracted 180 MW of Duke Energy’s just commissioned 207-MW Ledyard Windpower project in Iowa.

The new deals include two contracts for up to 240 MW with Invenergy, for a facility in the Electric Reliability Council of Texas (ERCOT) market that started operations in 2022 and a facility in the Southwest Power Pool (SPP) regional market.

Verizon has also signed a 12-year agreement with Enel North America for up to 100 MW from a wind project in the SPP market that came onstream in December 2022.

The fourth PPA is with an unnamed party. It is for up to 70 MW from a facility in the Pennsylvania Jersey Maryland (PJM) Interconnection regional market.

The projects will contribute to the company’s target of meeting 50% of its annual electricity consumption with renewables by 2025.

With this entry into the solar energy segment, Servokon has also become an engineering, procurement and construction (EPC) company with its product range off-grid & on-grid solar power generation systems, panels and inverters. As a part of its initial role as a solar energy player, Servokon will be providing solar batteries, inverters and panels to domestic customers, and the company will also be installing Solar Power Generation Systems (SPGS). All innovative and advanced solar products of Servokon were displayed at the Elecrama 2023.

“While Servokon has already won strong market trust with its high-quality power conditioning equipment and power & distribution transformers, we are now all set to contribute to the government’s mission to reduce the country’s overall carbon footprint. Our team has always embraced innovation and technology to manufacture the best-in-the-market products and will display that fervent dedication with solar products, too. The company’s move in solar energy is entirely in line with the Make in India initiative and is aimed at facilitating the government’s mission to build Energy Independent India,” noted Asif Khan, Director, Purchase and Service, Servokon.

Servokon has also exhibited its energy prowess at Elecrama 2023 by showcasing a power transformer with a massive capacity of 16,000 KVA. This also marked Servokon’s entry into the power distribution segment.

Source: PTI

CEF and the Uttar Pradesh government have signed an MoU for setting up the plants that will generate employment for approximately 240 people, the company said in a statement.

The plant will address the problem of waste mismanagement and augment bio-fuel production.

Maninder Singh Nayyar, CEO of CEF Group, said, “Uttar Pradesh is the largest state in the country which requires adequate waste management solutions, and we are capable of doing it. This agreement will prove beneficial for the entire state in various regards.”

The company said organic waste processing plants with captively grown Napier grass will also be utilized, bringing stable earnings for farmers. The project will be one of the largest ones of its kind in India.

“This is a direct replacement for chemical fertilizers in commercial farming. Therefore, enabling more scope for sustainable and natural/organic farming on a larger scale. We will be able to produce both biofuels and organic manure resulting in a sustainable environment,” he added.

Under the ongoing Invest UP streak, CEF Group has seized the opportunity to invest in the state this year with a proposed project named bio-fuels and allied products, in which CEF group will convert municipal solid waste, agricultural, industrial waste like press mud from sugar mills and other organic wastes into bio-fuels and allied products.

The projects will come in phases, with construction starting by the end of 2023. Different municipalities of Uttar Pradesh will provide the waste and land.

The overall set-up of the project with offtake arrangements of the bio-CNG and organic manure or city compost will be processed scientifically in the CEF waste processing plant.

Source: livemint

Riyadh : Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman on Monday said that Saudi Arabia has many plans in the energy sector in close coordination with India and these will come to light soon.

The Minister made the statement while speaking to ANI on the sidelines of the two-day second edition of the Saudi Media Forum which began in the capital Riyadh with over 1,500 media professionals and industry leaders from Arab and foreign countries joining to discuss the challenges and opportunities in the media industry.

“We have so many plans in the energy sector with India and we will see it very soon,” Prince Abdulaziz bin Salman told ANI when asked about Saudi Arabia’s plan in the energy sector with India.

Prince Salman’s statement came four months after he visited India, and met top Indian officials as the Kingdom strengthens its energy ties with the second-largest Asian economy.

The energy minister, who visited the New Delhi for a day in October last year, held talks with Commerce and Industry Minister Piyush Goyal, Petroleum Minister Hardeep Singh, Electricity Minister Raj Kumar Singh, and several Indian business leaders.

There are talks that the Gujarat coast in India could soon link up to the Middle East with deep sea cables, creating a renewable energy grid as Saudi Arabia and India expand their energy ties.

Earlier in September, Saudi Arabia’s Ambassador to India Saleh bin Eid Al-Hussaini vowed to boost and strengthen relations between Riyadh and New Delhi during his tenure.

Al-Hussaini had said that the move would help in accelerating the growth of the mutual and beneficial partnership between India and Saudi Arabia and strengthen the friendly bond between the people of our countries.

The partnership between Saudi Arabia and India reached new heights when Crown Prince Mohammed bin Salman visited New Delhi in February 2019. In October 2019, Indian Prime Minister Narendra Modi visited the Kingdom, which resulted in the two nations establishing the Strategic Partnership Council.

In September, Indian External Affairs Minister S Jaishankar had said that India and Saudi Arabia are important players in the emerging multipolar world order, and there are several areas in which both countries are working together.

He had also said that India and Saudi Arabia are major economies and play an important role in shaping the global economy.

India and Saudi Arabia are substantial economic partners, with trade being valued at approximately $42.86 billion during the fiscal year (April 2021 to March 2022), the Minister had said.

Energy plays a crucial role in the trade ties between India and Saudi Arabia as New Delhi imports about 18 and 22 per cent of its crude oil and liquefied petroleum gas demands, respectively, from the Kingdom.

Relations between Saudi Arabia and India have been historically strong for several decades. Indians constitute the largest community of foreign workers in the Kingdom and one of their home country’s biggest sources of inward remittances.

Saudi Arabia’s trade relationship with India was majorly confined to energy in the initial years, but now, both nations have widened their ties into other fields, including security, investment, health, food security, and culture.

Source: ANI

According to industry analysts, these protectionist measures could reduce the market share of imported cells in Turkey. While prices of the imported cells are currently higher than the threshold, they could dip below it in the future because prices are expected to fall across the main sections of the PV industry chain due to shifts in supply-demand dynamics. Furthermore, the Turkish government could adjust the threshold further.

Industry analysts have also noted that in the case of a PV module, much of its weight comes from its frame, backsheet, and glass covering. Even assuming that the minimum import price only target cells, quotes from cell suppliers in China appear to be lower than this level. Therefore, the new regulations will have some positive effects on Turkish manufacturers for PV products. Also, it is worth noting that the Turkish government has been calculating the custom duty on PV modules by kilogram since 2020.

Currently, there are two Turkish companies are involved in the production of PV cells. They are Kaylon Solar Technologies headquartered in Ankara and Smart Solar Technologies headquartered in Izmir. The Turkish government gave TRY 7.62 billion to Kaylon Solar and TRY 3.7 billion to Smart Solar for setting up their respective production sites. Kaylon Solar is building a vertically integrated manufacturing base with a production capacity of 2GW per year. Smart Solar is also building a plant with a production capacity of 2GW per year.

Source: energytrend

Established in January 1947, LG Chem, which is under the South Korean conglomerate LG, is involved mainly in petrochemicals, advanced materials, sustainable materials, and biotechnology. A major part of its portfolio consists of battery materials.

Yahua stated that this deal not only opens another sales channel for its lithium salts but also forms a stable supply partnership for both parties. Furthermore, as Yahua builds up its production capacity for lithium salts, long-term supply agreements such as this will enable the company to effectively turn over its inventory and expand its market share. All in all, this deal contributes to Yahua’s efforts in realizing its strategic aims.

Earlier on November 1, 2022, Yahua Lithium inked a long-term supply agreement with SK On (Shanghai). SK On is a subsidiary of another South Korean conglomerate SK Group, and it focuses on EV power batteries. According to the agreement between Yahua Lithium and SK On, the former will ship no less than 20,000 tons and no more than 50,000 tons of lithium salts to the latter during the period from 2023 to 2025. The annual shipment quantity will increase over the years.

Also, Yahua Industrial Group disclosed in December 2020 that Yahua Lithium had secured an order from Tesla for battery-grade lithium hydroxide. With an effective period from 2021 to 2025, the contract is estimated to be worth USD 630-880 million. Currently, Yahua Industrial Group is the main supplier to Tesla for lithium salts. In particular, Yahua’s lithium hydroxide is used in Tesla’s 4680 cylindrical batteries.

The two main businesses of Yahua Industrial Group are explosives for civilian applications and lithium products. However, the company is also involved in many other fields such as transportation and logistics. In recent years, Yahua has been committing more and more resources into the business related to lithium products because it has made significant financial gains from the rapid growth of the market for new energy vehicles. The focus of the company has been steadily shifting towards lithium products. Furthermore, the company continues to build up its production capacity for lithium salts and obtain sources of lithium resources that are located outside China.

Yahua Industrial Group currently possesses a total production capacity of 43,000 tons per year for various lithium salt products. In 2021, the company initiated projects to add 50,000 tons per year for battery-grade lithium hydroxide and 11,000 tons per year for lithium chloride. Among these projects, the second phase of Yahua Lithium’s capacity building is scheduled to enter operation by the end of 2023. The second phase comprises 30,000 tons per year for battery-grade lithium hydroxide. Yahua Industrial Group forecasts that its total production capacity for lithium salt products will reach above 100,000 tons per year by 2025.

In order to reach the 2025 capacity target, the company completed to two major acquisitions in 2022. The first deal involved buying a stake in Australia-based ABY. ABY’s key asset is the Kenticha lithium mine in Ethiopia. The second deal involved buying a 70.59% stake in Pude Technology. With this transaction, Yahua is able to indirectly own a 60% stake in Pude’s subsidiary Kamativi Mining Company (KMC). Kamativi is a mining town in the northern part of Zimbabwe. KMC has rights to numerous metal mining sites.

Besides the two aforementioned acquisitions, Yahua’s subsidiary Yahua International sealed a share purchase agreement with China-Africa Industrial. Under this agreement, Yahua International will acquire a 70% stake each in SSC Afrique and Indusmin Africa. These targets are wholly-owned subsidiaries of China-Africa Industrial. Yahua said the planned spending on this deal is capped at USD 145 million.

SSC Afrique and Idusmin Africa together have rights over four mining sites in Damaraland, Namibia. The four sites span a total area 720 square kilometers. With this deal, Yahua Industrial Group will have a 70% indirect ownership in each of these four mining sites.

Yahua Industrial Group recently released its financial results for 2022. According to its presentation, its net profit for 2022 is estimated to have reached CNY 4.5-4.7 billion, reflecting a YoY growth rate of 380.45-401.1%. The company said last year’s profit growth was mainly attributed to the boom in the market for new energy vehicles. The demand for lithium salts from EV power batteries kept rising, while prices of lithium salts remained relatively high. Also, the company ramped up efforts to manufacture and sell its products during the reporting period, thereby posting a massive profit growth.

Source: energytrend

The company allotted the 7.59% p.a. bonds on 20 February 2023 for 15 years and it will be matured on 20 February 2038. The AD bonds are proposed for listing at Wholesale Debt Market (WDM) segment of Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

NHPC is the largest organization for hydropower development in India. It has also diversified in the field of solar & wind power. As of 31 December 2022, the Government of India held 70.95% stake in the company.

The power generation company’s consolidated net profit declined 17.4% to Rs 671.67 crore despite of 19.8% rise in revenue from operations to Rs 2,582.76 crore in Q3 FY23 over Q3 FY22.

Shares of NHPC were up 0.26% to Rs 39.10 on the BSE.

Source: PTI

According to the memorandum, both parties will consider establishing a joint venture. The new entity, in turn, will set up a plant with an annual production capacity of 40GWh for EV power battery cells and packs. Furthermore, both parties will engage in technological collaborations based on their respective advantages in LFP and ternary batteries. Besides EV power batteries, both parties also consider joining forces in the market for ESS batteries. Gotion is interested in setting up production capacity for ESS batteries at InoBat’s existing manufacturing sites in Slovakia. This will allow Gotion to accelerate its penetration into the wider European market.

Additionally, both parties will be looking into opportunities for technological and commercial partnerships when it comes to facilities. Lastly, the memorandum mentions cooperation in the realization of a recycling scheme for production scraps and decommissioned batteries.

InoBat’s strategy is to develop an innovative, “cradle-to-cradle” (or circular) approach for energy storage solutions. Therefore, its businesses encompasses R&D, manufacturing, and recycling. In terms of offerings, InoBat has products for passenger vehicles, commercial vehicles, vehicles used in motorsports, and aerospace systems. The company applies the concept of green manufacturing to its products. Strategic investors in InoBat include Rio Tinto Amara Raja, Ideanomics, IFC, and IPM Group. Moreover, InoBat has been for approved for grant financing under the EU’s partnership program “Important Projects for Common European Interest (IPCEI).

Steven Cai, who serves at Gotion as CTO and president of the company’s General Research Institute of Engineering, said forming a tie with InoBat will likely lead to wide-ranging cooperation with respect to innovations in battery technologies, localization of battery production in Europe, and battery recycling solutions. This MoU therefore represents a win for both parties as they work to capture mutually beneficial opportunities in the future. Furthermore, the partnership with InoBat will speed up Gotion’s efforts to reach the goal of setting up an annual production capacity of 100GWh outside China by 2025. All in all, Gotion’s businesses will become more internationalized as a result.

Source: energytrend

Bosheng Advanced Materials specializes in battery separator films and is one of the few Chinese companies that are capable of mass producing 12μm dry separator films. Currently, Bosheng already has two main research and manufacturing bases in China. One is located in Loudi, and the other one is located in Yancheng (China’s Jiangsu Province). Its separator films are mainly used in Li-ion batteries that are incorporated into EVs and energy storage systems. Bosheng’s clients include the major Chinese battery suppliers such as BYD, CATL, Ganfeng Lithium. In terms of production capacity, the first phase of its base in Hunan comprises five production lines that are now fully ramped up and shipping 20 million square meters per month. Also, Bosheng is procuring the equipment for the second phase that will comprise 10 production lines.

As for DFP, it is actually the top supplier for cigarette packages in China. The company’s core business is the design and printing of cigarette packages and other similar types of packages. DFP was established on December 30, 1983, and listed on the Shanghai Stock Exchange on February 16, 2012.

Even though Bosheng and DFP have very different businesses, they began forming a partnership in 2022. On January 12, 2022, DFP and Bosheng signed a strategic cooperation agreement. Under the agreement, both parties will jointly develop products and manufacturing processes related to battery separator films, specialty polymer films, insulation materials, heat dissipation materials, and other kinds of advanced materials related to batteries.

Also, on October 18, 2022, DFP announced that it was going to acquire Bosheng Advanced Materials with cash and shares. In this transaction, DFP bought a 51.06% stake in Bosheng for RMB 3.95 per share. Before the transaction, DFP already had a 48.94% stake in Bosheng. After the transaction, DFP owned Bosheng in its entirety.

DFP stated that with the acquisition, it will be able fully leverage Bosheng’s team of professionals, technological know-hows, and client base. DFP will thus be able to develop battery separator films and build up production capacity for these products. Furthermore, DFP will be offering optimized battery separator films and related composite materials in the regional markets within China (i.e., South China, Southwest China, and Central China).

Regarding the new base in Loudi, DFP said this investment project will allow it to provide high-quality services to its clients in a timely manner. The base will increase the efficiency of the company’s battery-related businesses and enable the company to effectively capture opportunities in the fast-growing markets for Li-ion batteries. In particular, DFP is focusing on the industry chain for battery energy storage systems. By creating service platforms for separator films and composite materials, DFP will be able to maintain a high level of profitability and competitiveness.

Source: energytrend

For improved power supply in all areas of the state, the Uttar Pradesh Power Corporation Limited has reached power banking agreements with Jammu and Kashmir, Tamil Nadu, and Rajasthan.

According to an official statement, power banking means that in months when the availability of power is more than the demand in a state, the surplus power of the state is given to those states where the demand for power is more.

“In a first, agreements have been made for 249.29 million units with Jammu and Kashmir, and 61.56 million units with Tamil Nadu. An agreement is proposed with Karnataka. Compared to last year’s power banking of 449.6 million units from Rajasthan, 1967.8 million units (almost four times) have been done this year by making efforts,” the statment said.

The step was taken on the instructions of CM Yogi.

“Through this, UPPCL has got success in power banking through various states. Power banking agreements have been signed with Jammu Kashmir, Tamil Nadu, Rajasthan and Madhya Pradesh. Also, such agreements are proposed with Karnataka and NTPC,” the statement said.

Power Corporation’s Chairman M Devraj informed that the timely efforts made by the corporation would benefit the state’s power supply in the coming summer.

He further informed that Power Corporation Management has already swung into action to manage the proper availability of electricity in view of the upcoming summer season.

“In summer, when the demand for electricity increases in Uttar Pradesh and it is expensive in the power exchange, electricity is returned without purchase from those states where electricity has been given earlier through power banking,” the statement said.

Source: ANI

He added that there has been an exponential rise in the number of certificates of origin being issued on both sides, indicating growth in utilization of the comprehensive economic partnership agreement (CEPA).

“CEPA is well beyond trade because it has given rise to confidence which has resulted in further investments. If you look at the last one year, you will see some so much more investment happening two ways…. Much of this investment has gone in non-traditional areas. Of course infrastructure has received a lot of investment. But a large chunk of this investment has gone into startups. It has gone into renewables, which were not really there on the drawing board say five years ago,” said Sudhir at a business event marking a successful year of signing of CEPA. It was organised by the Federation of Indian Chambers of Commerce & Industry (FICCI) in association with Embassy of India, Abu Dhabi, Consulate General of India, Dubai and Dubai Chambers, which witnessed the participation of more than 200 leading businesses from India and the UAE. “As trade increases, more and more awareness increases, greater number of exporters on both sides will join in. I have heard that some companies have started exporting a lot of manufactured goods from the UAE to India, which they never used to do before CEPA,” he added. Recently, Indian startups presented their pitches in Dubai to raise funds as part of the “India-UAE startup corridor”.

The pact, negotiated in record 88 days, was signed between the two sides on 18 February and came into effect on 1 May.

The UAE Minister of State for Foreign Trade, Thani Al Zeyoudi spoke about the immense opportunities and advantages offered by CEPA. “We are still doing the analysis. The bilateral trade has surpassed $49 billion, surpassing the numbers of 2020 by 77%. We will do a full analysis by 1 May after the completion of one year of the full implementation of the agreement. The ultimate goal is to reach $100 billion within five years for non-oil trade between both nations and trade in services to $15 billion.” He added that several significant partnerships have been launched since May 2022 related to energy, food security, education and healthcare. Advanced technology, renewable energy, real estate, food security among many others. Cepa reflects these ambitions. “All indications so far are positive,” said Zeyoudi.

Data by the department of commerce show that in the October-December period, a total of 17005 certificates of origin worth $3.33bn were issued to Indian exporters as against $5.45bn worth of non-oil exports during the quarter, compared to 12875 COOs worth $1.31bn issued to exporters as against $5.83bn worth of non-oil exports, implying rising utilization of the pact.

A COO is issued to an Indian exporter, essentially certifies that goods in the consignment have met certain criteria to be considered as originating in India.

“If you look at the number of certificates of origin being issued on both sides, there has been an exponential rise. That means there is an interest, and so many so many people are using CEPA provisions…it has been a very smooth implementation of the pact. It has also charted new territory, which was not earlier included in India CEPAs like digital trade, pharma, so these are some very new elements, and it helps us also India as it is negotiating CEPA with other countries,” said Sudhir.

In December, 6111 COOs were issued worth ₹1.1bn, which is nearly three times the 2316 COOs worth $0.310 bn issued in June. The COOs issued in December were led by the textiles sector with certificates worth $303mn, followed by gems and jewellery at $185mn, edible fruits and nuts at $90.61mn, live animals at $88.09mn, automobiles at $38.79mn, and footwear at $36.34mn.

The COOs, which are mandatory to claim duty concessions under a free trade agreement (FTA) may translate into actual exports with a lag, and is a strong indicator of utilization of the pact.

Sudhir added that CEPA is giving rise to new opportunities and unexplored avenues. “We’ve already seen an increase in startups. Cepa also talks about the digital world and a lot of start-ups are in the digital space. In the last several months there has been a huge influx of Indian start-ups into Abu Dhabi and Dubai,” he said.

The pact, which came into effect on 1 May immediately eliminated duties for 90% of India’s exports in value terms to the UAE covering sectors including gems and jewellery, textiles, leather, and engineering goods among others.

Gems and jewellery, electrical machinery, automobiles, cereals, and machinery and mechanical appliances are among the top gainers of CEPA in value terms, posting an export growth of 18%, 28%, 35%, 39%, and 17% respectively. The other high growth sectors include sugars and sugar confectionery, tea & spices, essential oils, miscellaneous chemicals, and man-made staple fibres at 70%, 49%, 43%, 43%, and 54% respectively.

India’s exports to the UAE grew by 16.45% in the April-December period to $23.3bn, and imports grew by 24% to $40.7bn during this period. The Dubai Chamber of Commerce reported that they registered 11,000 new Indian companies in 2022, bringing the total to more than 83,000.

Chandu Siroya, vice-chairman of Dubai Gold and Jewellery Group said that the company has added 100 shipments in the last nine months. “Total value stood at about Dh320 million approximately under CEPA, totalling about 2,028kg of gold. This is only jewellery. I see an ease of doing business now. Earlier, my customers from America would place the order with my suppliers and then come back. Now they don’t need to do that… It’s duty free so it doesn’t matter if they buy from here or from India,” he said.

Source: livemint

“In a tough international field, we are delighted to be working together with a strong partner like Equinor and combining the individual strengths of the two companies to develop German offshore wind. EnBW is among today’s leaders in offshore wind in Germany. In partnership with Equinor, a global offshore wind major, we will continue to significantly contribute to a climate-friendly energy future in Germany and Europe”, said Michael Class, Head of Portfolio Development Renewablesat EnBW.

Jens Økland, Senior Vice President for Business Development Renewables in Equinor, said: “Equinor has a long energy history in Germany and views the upcoming offshore wind opportunities with great interest. We are excited about teaming up with EnBW. Together we combine excellent capability in delivering renewables projects specifically in Germany with international offshore experience, all needed to provide sustainable, reliable, and affordable energy.

About EnBW

Further expanding renewables in Germany and selected foreign markets is a central element of EnBW’s growth strategy. Since the beginning of its corporate transformation in 2013, EnBW has successfully invested nearly €5 billion in its Renewable Energies segment.

Around another €4 billion is to be invested by 2025, primarily in further expanding wind and solar energy, meaning that around 50% of EnBW’s generation portfolio will consist of renewables. EnBW was among the pioneers in offshore wind power with its Baltic 1 offshore wind farm in the Baltic Sea.

In January 2020, the company commissioned Germany’s largest offshore wind power project, EnBW Hohe See and Albatros, with a combined capacity of 609 megawatts. The He Dreiht offshore wind farm with a capacity of 900 megawatts will be connected to the grid in 2025. He Dreiht will operate without any state subsidies as first fully merchant offshore project in Germany. Additionally, EnBW and bp are developing Morgan, Mona and Morven, three wind farms in the Irish Sea with a combined capacity of 5,9 GW.

EnBW is one of the largest energy supply companies in Germany and Europe, with a workforce of some 26,000 employees. It supplies electricity, gas, water together with infrastructure and energy-related products and services to around 5.5 million customers. Installed renewable energy capacity will account for 50 percent of EnBW’s generating portfolio by the end of 2025. This is already having a noticeable impact in terms of reducing CO2 emissions, which EnBW plans to halve by 2030. EnBW aims to attain climate neutrality by 2035.

About Equinor

Equinor aims to take leading positions in the energy transition. The international energy company has a broad energy offering and is Europe’s largest gas supplier. The company has a growing portfolio in offshore wind across Americas, Asia and Europe and is involved in various hydrogen projects across Europe.

With offshore wind farms in operation and under development in Germany, UK, Poland and Norway, the company has a strong presence in the North Sea and Baltic region. Recently Norway and Germany announced to work together to develop large-scale value chains for low carbon hydrogen. Equinor’s offshore wind ambitions in Germany is to access opportunities and apply its international offshore experience to develop projects at scale to create long-lasting value and supply homegrown renewables power by working closely with strong local partners.

Equinor has an ambition to increase its renewables capacity to 12–16 GW by 2030, and a large share of this will be realized in the North Sea and the Baltic Sea.

Source: equinor

Based on the discussion at REConIndia 2023, a white paper will be prepared on solar power challenges, roadmap to make green hydrogen viable, propelling wind energy and state of green financing in India, a statement said.

The conference was organised by Blue Circle on Friday, where experts, stakehoders and industry leaders deliberated on the key issues, challenges and opportunities in renewable energy in India.

Founder and CEO of Blue Circle Siddharth Anand said, “The industry estimates investment in excess of USD 20 billion in 2023”.

Power and New & Renewable Energy Minister R K Singh in December 2022 also pegged the investment in renewables at around USD 25 billion in 2023.

Anand also stated that the REConIndia 2023 brought together key decision-makers, thought leaders, and experts from across the industry, creating a platform for collaborative thinking and problem-solving.

Alexander Hogeveen Rutter, Private Sector Specialist, International Solar Alliance, said that with a significant portion of wasteland at its disposal, India has the potential to unlock enormous opportunities by utilising it for setting up solar projects.

The development of floating solar fields is another area of exploration, which presents a unique advantage that the land beneath the panels can be used for farming by farmers who may have given up their land, Rutter added.

A strong framework for the development of solar projects on wasteland can help build a sustainable and self-reliant India, Rutter suggested. Chairman, Blue Circle and MTaI, Pavan Choudary stated that there is increasing awareness and sensitivity towards sustainability.

Many sectors have started initiating positive changes. For example, the medical equipment sector is taking a lead by planning longer working lives for the chasis of their products and medical disposable manufatcurers are exploring the use of bio- disposable manufacturers are exploring the use of bio-degradable materials to reduce the environmental impact of their products, he added.

CEO, NTPC Renewables, Mohit Bhargava stated as India races towards its target of achieving 280 GW of solar energy by 2030, it is imperative to increase the production of solar power. Given the significant dependence on China for solar modules, India needs to step up its efforts to establish a robust domestic solar module manufacturing ecosystem, he suggested.

While the government’s PLI (production-linked incentive) scheme holds promise, it may take time to yield results. Therefore, a holistic approach towards increasing domestic production capacities and incentivising domestic manufacturing is critical to meet India’s renewable energy goals, he also suggested.

Pankaj Sindwani, Chief Business Officer, Tata Cleantech Capital, stressed on increasing efforts to attract global investment and compete more aggressively.

R P V Prasad, CEO-India, Envision Energy, said, as a renewable energy source, wind energy is expected to play a significant role in India’s energy mix in the coming years.

It is projected that wind energy will contribute around 25 per cent of the total renewable energy production in India by 2030, he added.

REConIndia 2023 witnessed participation of more than 250 subject matter experts, policymakers, innovators, investors, and startup founders. PTI

“This significant investment will strengthen tribal energy sovereignty by bolstering ongoing efforts to lower energy costs, increase energy security and resilience, and provide electric power to unelectrified buildings,” the Department of Energy said in a press release Friday.

The funds will be used on tribal lands to set up autonomous energy systems that don’t require connection to a central grid. Additionally, funds will be allocated to install clean energy generating systems in buildings on tribal property.

The Department of Energy says it wants to award between 10 and 25 grants ranging from $100,000 to $1 million.

“This new investment will help Indigenous communities everywhere make informed decisions about their own energy needs and unlock stronger economies and increased access to reliable and affordable clean energy resources,” said Energy Secretary Jennifer Granholm.

Source: upi

TransAlta and Montem will form a partnership and jointly manage the Project, with TransAlta acting as project developer. The acquisition includes the land rights, fixed assets and intellectual property associated with the pumped hydro development project. The Project leverages Montem’s existing assets at Tent Mountain, which include large legacy water reservoirs from past mining operations.

Pumped hydro is an environmentally sustainable solution for managing the intermittency of increased renewable electricity generation in the Province of Alberta; the characteristics of the Tent Mountain site are rare and present a unique opportunity to provide 15 hours of energy storage capability for the Alberta market. The Project is strategically located on private, industrial zoned land, including an existing upper reservoir that supports a cost competitive pumped hydro project compared to other similar projects. The Project has already completed key technical and environmental work including a hydrology assessment, with additional geotechnical analysis being planned in 2023 to further advance the design of the Project. The Project will be developed over the next four years, with construction targeted to start as early as 2026 with a commercial operation date between 2028 and 2030, all subject to regulatory, commercial and engineering considerations.

TransAlta has owned, operated, and constructed hydro facilities for more than 110 years and this Project offers similar long-term advantages as TransAlta’s other Alberta hydro facilities. These long-term advantages include that the Project will have a life span of greater than 80 years, which will substantially reduce its operating costs compared to other technologies over the life of the Project. The Project’s closed loop system will result in minimal impacts to Alberta’s natural river system and will have the ability to provide flexible, firm clean power to customers at scale. The Project will actively seek an offtake agreement over the development period for the energy and environmental attributes generated by the facility; the Project will provide a unique value proposition to customers seeking carbon free electricity.

“The Tent Mountain Renewable Energy Complex is a unique development opportunity for our Company and the Province of Alberta. The Project can support the reliability of the Alberta grid with a proven technology that is non-emitting and has a significantly larger capacity and duration than other currently available storage options. We believe long duration storage projects, like Tent Mountain, are essential to support the reliability of the grid in Alberta as wind and solar penetration increase on the path to net-zero electricity,” said John Kousinioris, President and Chief Executive Officer of TransAlta.

“We are thrilled to be entering into this partnership with TransAlta to develop the Tent Mountain Renewable Energy Complex. TransAlta has been operating in the Alberta power market for more than 110 years and brings many skill sets which are complementary to Montem’s,” said Peter Doyle, Managing Director and Chief Executive Officer of Montem.

TransAlta will pay Montem approximately $8 million upon closing the transaction with additional payments of up to $17 million (approximately $25 million total) contingent on the achievement of specific development and commercial milestones. The acquisition also includes the intellectual property associated with a 100 MW offsite green hydrogen electrolyser and a 100 MW offsite wind development project. The closing of the transaction remains subject to customary closing conditions, including receipt by Montem of shareholder approval, with closing expected to occur in March 2023. The Project will be independent of TransAlta’s existing Alberta hydro assets and will be managed through this partnership. TransAlta bears no exposure to reclamation obligations nor to any environmental liabilities arising from Montem’s historical mining operations at the Tent Mountain site.

About Montem Resources

Montem Resources (ASX: MR1) is a steelmaking coal and renewable energy development company that owns and leases coal tenements and freehold land in the Canadian provinces of Alberta and British Columbia. The Company’s objective is to advance its steelmaking coal projects and renewable energy complex in the Crowsnest Pass, Alberta. The Company has planned an integrated mining complex in the Crowsnest Pass, focusing on the low-cost development of open-cut operations that leverage central infrastructure. This is centered around the Tent Mountain Mine Redevelopment Project, and the Chinook Vicary Project.

About TransAlta Corporation:

TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with clean, affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of hydro-electric power. For over 111 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and its climate change strategy with CDP (formerly Climate Disclosure Project) and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. TransAlta has been recognized by CDP with an ‘A-‘ rating. TransAlta has achieved a 61 per cent reduction in GHG emissions since 2015.

Source: transalta

Source: PTI

Battero Tech was established in December 2020 and is headquartered in the Jiashan County Economic Technological Development Zone. It is a holding subsidiary of REPT Battero, which is under the control of China’s leading nickel supplier Tsingshan Holding Group. Battero Tech focuses on the development, manufacturing, and sales of Li-ion batteries purposed for NEVs and energy storage systems. Jiashan County is a located in China’s Zhejiang Province and administered by the prefecture-level city of Jiaxing.

Battero Tech’s primary technology path is LFP battery, and its offerings include cells, modules, and packs. Regarding cells, Battero Tech mainly supplies aluminum-cased prismatic LFP cells with a wide range of nominal capacity specifications (e.g., 50Ah, 70Ah, 100Ah, 115Ah, 230Ah, 280Ah, 302Ah, and 322Ah).

In terms of capacity expansion, Battero Tech signed the agreement to develop the second phase of its battery base in Jiashan County on January 28 this year. Encompassing additional production capacity and a R&D center, the second phase entails a total investment of RMB 2.56 billion. Battero Tech will spend RMB 640 million in building the R&D center that will facilitate the formation of the company’s internal battery industry chain. As for the setup of the additional capacity, the second phase will build on the foundation of the first phase and add another 16GWh per year of production capacity for Li-ion cells and modules. The investment in the new production capacity is set at RMB 1.92 billion.

Battero Tech and the government of Jiashan County inked the deal for the development of the battery base in November 2020. For the first phase, Battero Tech agreed to invest RMB 5.5 billion to build up 16GWh per year of production capacity for cells and modules. Going forward, with the second phase, the base will be able to ramp to 32GWh per year.

Besides the base in Jiashan County, REPT Battero is also planning to set up manufacturing projects in other regions of China, including Wenzhou (Zhejiang Province), Foshan (Guangdong Province), and Liuzhou (Guangxi Province).

Established in October 2017, REPT Battero supplies Li-ion power batteries used in commercial, passenger, and specialty vehicles. Its technology paths include LFP and ternary batteries. The company first achieved mass production and shipments of its products in April 2019.

On December 14, 2022, the HKEX disclosed that REPT Battero had submitted its prospectus and application for listing on the main board of the exchange. Morgan Stanley and CITIC Securities are serving as its sponsor for the IPO. According to the prospectus, the net proceeds from the IPO will be mainly used to fund capacity expansion, support R&D of core technologies, pay back bank loans, supplement working capital, and meet general expenses. The core technologies refer to advanced Li-ion batteries, advanced materials, and advanced manufacturing processes.

Source: energytrend

Dongwei said once the agreement comes into effect, it will be able to expand further into the market for the vertical processing equipment used to manufacture HJT cells, especially the processing equipment that vertically electroplates copper continuously on the busbars of HJT cells. This, in turn, will help the company in raising sales and revenue. All in all, the agreement fits into the company’s growth strategy.

Kunshan Dongwei Technology Co. Ltd. (KSDW) designs, builds, and sells high-precision equipment related to electroplating and other industrial processes. Its main offerings include the followings: vertical continuous electroplating equipment for rigid PCBs, sheet-to-sheet vertical electroplating equipment for flexible PCBs, roll-to-roll vertical electroplating equipment for flexible PCBs, horizontal desmear equipment, gantry plating equipment, and rolling plating equipment for continuous production lines.

Dongwei has accumulated the technological know-hows pertaining to the copper plating equipment used in the manufacturing of PV products. Its second-generation systems for the PV copper plating process have been qualified by its clients and deployed for mass production. Currently, the company is proceeding with the full-scale launch of the third-generation systems. Reaching a throughput of 8,000 pieces per hour, the third-generation systems are being touted by the company as a “revolutionary innovation” for the industry and a “milestone” in the company’s history. All in all, the third-generation systems are expected to significantly raise efficiency and drive down cost across the PV industry chain.

According to Dongwei’s financial results for 2022, its realized annual revenue grew by 25.54% year on year to RMB 1.018 billion thanks to the strong demand for the plating equipment related to new energy applications. Also, the annual profit attributed to the parent company came to RMB 216 million, showing a year-on-year growth of 34.3%. In the same reporting period, considerable growth occurred in both the hardware and new energy segments. In particular, orders for the plating equipment related to new energy applications surpassed expectations in terms of volume. The confirmed revenue from the new energy segment skyrocketed by 1,462.26% year on year.

Source: energytrend

“We wish to inform that the long stop date under the memorandum of understanding dated August 18, 2022, has expired,” Adani Power said in a regulatory filing on Wednesday.

Earlier in August 2022, Adani Power had informed the bourses that it has agreed to acquire DB Power Ltd (DB Power), which owns and operates a running 2×600 MW thermal power plant at district Janjgir Champa in Chhattisgarh.

Queries regarding the status of the deal sent to Adani Power did not elicit any response.

This assumes significance in view of allegations of fraud against Adani group by the US-based short-seller Hindenburg Research. This issue rocked Parliament also earlier this month and opposition had demanded Joint Parliamentary Committee as well as a Supreme Court monitored probe into the issue.

The initial term of the MOU (memorandum of understanding) was October 31, 2022. Later the deadline for the transaction got four extensions till November 30, 2022, December 31, 2022, January 15, 2023 and February 15, 2023.

DB Power is engaged in the business of establishing, operating and maintaining a thermal power generating station in Chhattisgarh.

DB Power has long and medium-term power purchase agreements for 923.5 MW of its capacity, backed by fuel supply agreements with Coal India Ltd, and has been operating its facilities profitably.

Source: PTI

The acquisition has been made with an objective to strengthen its presence in the entire supply chain spectrum of consumable goods, Integra Essentia said in a regulatory filing.

“Integra Essentia Limited is pleased to announce that it has purchased assets of Chateau Indage Winery for Rs 400 million, as a part of its pre-defined long-term business growth strategy,” it said.

Source: PTI

“We live through the Golden Age of renewables. Despite the fading subsidies for clean energy, despite the current economic turmoil – the inflation rates, the volatile currencies, the supply chain and logistics bottlenecks, 2023 will be another record year for capital deployment in green power” commented athein’s Co-Founder and CEO – Milan Koev.

With the high inflation rates, the first victim is usually the very basic utility – electricity. In 2023, in key economies in Asia Pacific, the YoY increase of electricity cost is about 25%. LNG prices are 2.5 times higher than in 2019, coal prices have quadrupled.

Edmund Yen, Co-Founder and CCO of athein added, “With the latest announcement of EVN in Vietnam, raising the retail prices with nearly 20%, the wholesale market prices of Philippines and parts of Australia, reaching monthly average levels of 8 PHP per kWh and 0.20 AUD respectively, and the upward trends in India, we are headed towards a power crisis. A crisis in which businesses and households are desperate for alternatives.”

“As a result, LCOE of renewables in the region is on average 46% lower than average end-user tariffs in 2022,” concluded Dzung Nguyen, Co-Founder and Head of Vietnam for athein.

In addition, we are only 20 months away from the first RE100 milestone, the year 2025, which triggers the deadline for some 300 large multinational conglomerates to reach net zero. Wood Mackensey estimates over the next 3 years a CAGR of over 120% for bilateral renewable power purchase agreements in Asia Pacific. This translates into 56 GWp worth of PPAs. On the other hand, power demand is slowly recovering to its pre-covid levels across APAC, with projected by S&P Global CAGR of 4.5% for the next decade. Coupled with the increased renewable targets of Asian governments from COP26, set to on average 62% by 2035, in the next decade, new solar and wind additions are expected to reach over 1,000 GWp.

About athein Holding:

athein is a Joint-Venture partnership between ATAD Steel Structure Corporation, Hexagon Holdings, Inpos Ltd. and Invenic Inc. The platform company is committed to help its multinational manufacturing customers to achieve their net zero targets and plans to operate 1 GWp of renewable assets by 2026 and 5 GWp by 2030.

BP bought a 55% stake in Deep Wind Offshore’s early-stage offshore wind portfolio, which includes four projects across the Korean peninsula with a potential generating capacity of up to 6 gigawatts, it said in a statement.

South Korea is targeting almost 22% of its energy to come from renewable sources by 2030 and is expected to become a leading offshore wind market.

The four projects are a mix of fixed-bottom offshore wind and floating turbines, a nascent technology that remains significantly more expensive, BP’s head of offshore wind Matthias Bausenwein told Reuters.

All four projects are expected to meet BP’s internal rate of returns of 6% to 8%, he said. Permitting for the projects is already underway.

Bausenwein would not give a precise timeline for the development of any of the projects, but said the partners aimed to “contribute to the Korean power market by the end of the decade.”

BP, which already has offshore wind projects in Europe and the United States, aims to rapidly grow its installed renewable energy capacity to 10 gigawatts by 2030 from around 2.2 gigawatts at the end of 2022 as part of its strategy to slash greenhouse gas emissions.

Last week Chief Executive Bernard Looney rowed back on plans to sharply cut the company’s oil and gas output.

Privately-owned Deep Wind Offshore is headquartered in Norway, where it is also developing wind projects.

Source: Reuters

The financial allocation for 2022-23 to 2025-26 was approved at a meeting, chaired by Prime Minister Narendra Modi, and will include Rs 2,500 crore for the development of roads infrastructure, Union I&B Minister Anurag Thakur told reporters.

VVP was announced by the Central government last year.

The scheme, he said, will provide funds for the development of essential infrastructure and the creation of livelihood opportunities in 19 districts and 46 border blocks in four states of Himachal Pradesh, Uttarakhand, Sikkim, Arunachal Pradesh and the Union Territory of Ladakh along the northern land border of the country.

Thakur said the comprehensive development of villages along the northern border will improve the quality of life of people living there and help in encouraging them to stay in their native locations in these areas, thereby reversing the out-migration and adding to improved security of the border.

Asked whether the decision is linked with strengthening the security in border villages with China, the minister made it clear that those areas where development had not reached and the people of such areas had to migrate out, an opportunity has been provided to them to ensure they get employment and self-employment opportunities as the development will reach their villages on the same lines as that in other villages.

“The Prime Minister has given priority to the development of villages, especially on the border areas and whatever steps are required for national security the Modi government has taken. But, the Prime Minister has ensured that equal opportunities are provided to those border areas where development had not reached so far. PM Modi has thought about this which no one had ever thought till now.

“There is so much beauty and opportunities at the border, but the lack of opportunities and development on the border areas has forced people to migrate from there. People who were forced to migrate now have opportunities to reach out to border villages and see the beauty of villages in India,” he said.

All schemes of the government should also reach the remotest villages of the border areas to ensure that border villages turn vibrant, the minister said.

“You can see this linking it with national security or the development of these villages, there can be different perspectives, but these villages will become developed and it is also important from the security perspective.

“We have taken several steps to ensure India’s security. Where India was an importer of defence equipment, now it is doing exports under Make in India in the defence sector,” Thakur said.

India’s strength is growing and we are taking steps to ensure that India becomes secure, he said, adding that here we are talking about ensuring the development of villages by providing them basic amenities and making them secure.

Thakur said the cabinet also approved the constitution of a high-powered committee on VVP with specific terms of reference.

This will help in achieving inclusive growth and retaining the population in the border areas, the minister said. In the first phase, 663 villages will be taken up in the programme.

“The Vibrant Villages Programme has been formulated as a centrally-sponsored scheme and will have both components of central sector schemes with 100 percent direct funding as well as central sponsored schemes in ten sectors like economic growth, livelihood generation, road connectivity, energy, development of cooperative sectors for 24X7 electricity and water, besides promotion of tourism of culture,” Thakur said.

He said existing schemes of various ministries and departments of the government will be covered under VVP and their outcomes will be defined and monitored on a constant basis. However, there will not be an overlap with the Border Area Development Programme, he said.

The villages will be developed as growth centres on the basis of the ‘hub and spoke model’ through the promotion of entrepreneurship and empowerment of youth and women through skill development programmes, Thakur said.

The scheme aids to identify and develop the economic drivers based on local natural human and other resources of villages on the northern border and will look at the traditional knowledge, heritage and development of sustainable eco agri-businesses on the concept of one village, one product, he said.

This will be done through the involvement of community cooperative self-help groups and non-government organisations and agriculture societies, he added.

The vibrant village action plans will be created by the district administration with the help of gram panchayats. A 100 per cent saturation of central and state schemes will be ensured.

Key outcomes that have been attempted are connectivity with the all-weather road, drinking water, 24×7 electricity with solar and wind energy to be given focused attention, mobile and internet connectivity, a statement said, adding that tourist centres, multi-purpose centres and health and wellness centres will also be set up.

Source: PTI

The company has sought bids for the JPY loan, which is to be raised through External Commercial Borrowing route.

According to a bid document, the term loan would be for USD 150 million with green shoe option of USD 600 million.

It also stated that the proceeds of the loan will be utilised for capital expenditure for ongoing/new capacity additions programme, renewable energy projects, including hydro, coal mining and refinancing of existing ECB/Rupee loan availed domestically for CAPEX (capital expenditure) etc.

The last date for submission of bids is March 1, 2023 and proposals would be opened the same day.

NTPC is the largest power generating company in India. It occupies a dominant position in the domestic power sector with presence in the entire value chain of the power generation business.

In a BSE filing, it stated that consequent upon successful commissioning, third part capacity of 50 MW out of 300 MW Nokhra Solar PV Project at Bikaner, Rajasthan, is declared on Commercial Operation with effect from February 16, 2023.

The first part capacity of 100 MW has already been declared on commercial operation with effect from December 20, 2022 and second part capacity of 50 MW with effect from December 30, 2022.

With this, it stated that standalone installed and commercial (power generation) capacity of the NTPC will become 58,979 MW & 58,319 MW respectively, while group installed and commercial capacity of NTPC (along with joint ventures and arms) will become 71,594 MW & 70,934 MW respectively.

Source: PTI