19 January 2015 2015 06:10 AM GMT

ADB to Grant US$100 Million to Indian Solar Project Developer

The Asian Development Bank said it will extend up to US$100 million to India’s ACME Group to help the company set up solar power projects.

ACME Solar Energy Private Ltd, 50% owned by two French renewable energy companies, Electricite de France Energies Nouvelles and EREN, and 50% by the ACME group, plans to develop 350 megawatts of solar projects in India.  ADB will support the development and commissioning of solar projects with capacity of 200MW, with half or 100MW already awarded under the Jawaharlal Nehru National Solar Mission phase 2. Others are still to be identified.

Those approved to date are located in the Jodhpur district of Rajasthan state, where solar irradiance levels are among the highest in the country. The projects will rely on solar panels from a range of ADB-approved suppliers and sell the power to the Solar Energy Corporation of India at a fixed tariff of Rs5.45 per Kwh over the next 25 years. ADB financing for those projects has reached financial close.

The additional projects, to be financed by ADB, will be selected on criteria, including long term offtake of generated electricity, financial viability, and compliance with environmental and social safeguards. The 200MW of combined generating capacity will provide 380,000 megawatt-hours of electricity a year, avoiding around 280,000 tons of carbon dioxide which would otherwise have been emitted from fossil fuel power generators.

Aside from ADB, International Finance Corporation and commercial banks will provide estimated loans of $100 million and ACME Solar Energy Private Ltd estimated equity of $65 million, for a total investment cost of $265 million.

August 16th 2019
Corporate Sourcing of Renewables Growing, Taking Place in 75 Countries

Companies in 75 countries actively sourced 465 terawatt hours (TWh) of renewable energy in 2017, an amount close to the overall electricity demand of France, according to the report from the International Renewable Energy Agency (IRENA). With the continued decline in the costs of renewables, the report suggests, corporate demand will continue to increase as companies seek to reduce electricity bills, hedge against future price spikes and address sustainability concerns.

November 19th 2018
US: EIA Data Shows Renewables Outpacing Nuclear Power In Electrical Generation

The latest data from the U.S. Energy Information Administration (EIA) is showing that electrical generation by renewable sources has edged past nuclear power. Additionally, wind and solar now provide 10% of the nation’s electricity, overall; with solar alone surpassing biomass and geothermal combined. Significantly, solar now triples electrical generation by oil. In addition, the data reveals that solar and wind both showed strong growth with solar (i.e., utility-scale + distributed PV) expanding by 27.6% and wind by 11.2%. Combined, they accounted for nearly a tenth of the nation’s electrical generation.

August 14th 2019
Wind: China Maintains Emerging Markets Top Spot Following 19.7GW Build Boom

Wind industry intelligence service A Word About Wind has launched its Emerging Markets Attractiveness Index report for 2018, which provides insight and analysis into the most attractive emerging markets for wind companies. The index, now in its second year, ranks the top 30 emerging markets that investors should consider when investing in wind in Europe, Africa, Asia and Latin America. The list considers factors including political and economic stability for investors, alongside the growth of electricity demand and potential for wind growth, in order to rank the countries by overall potential. As with last year’s report, China tops the list and the ongoing trade war with the US shows no sign of slowing China’s formidable growth.

August 12th 2019
EU Approves Ambitious Energy Efficiency Goals, Encourages Clean Energy Feed-In

Europeans will now be entitled to consume, store and sell the renewable energy they produce in line with ambitious targets set by the EU. The targets are to be reviewed by 2023, and can only be raised, not lowered. By making energy more efficient, Europeans will see their energy bills reduced. In addition, Europe will reduce its reliance on external suppliers of oil and gas, improve local air quality and protect the climate. For the first time, member states will also be obliged to establish specific energy efficiency measures to the benefit of those affected by energy poverty. Member states must also ensure that citizens are entitled to generate renewable energy for their own consumption, to store it and to sell excess production.

August 10th 2018
Major Role For WorleyParsons’ Advisian On World’s Largest Solar Power Project

Noor Energy 1 has appointed Advisian, the global consulting firm of WorleyParsons, as Owner’s Engineer for the concentrating solar power (CSP) fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai. The 700MW project will be the largest of its kind in the world and as an Owner’s Engineer, Advisian will protect the owner’s interests by ensuring all contractors are adhering to project specifications. It will also provide a review of the basic and detailed engineering, manage risk and provide technical support during construction & commissioning of the plant.

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