INDIA
INDIA
OPIC And Renew Power Ventures Sign Commitment For 100 Megawatt Solar Farm In India
“ In India, outdoor air pollution is an ever growing public health concern. OPIC’ s partnership with Renew Power Ventures will have a transformative impact by helping India both reduce its emissions and increase energy capacity in the country through a diversified power generation mix. OPIC is committed to assisting India in its transition to a low carbon economy by investing in clean energy projects.”
T
Elizabeth L. Littlefield, President & CEO
OPIC
he Overseas Private Investment Corporation, the U. S. Government’ s development finance institution, signed a commitment with ReNew of approximately $ 74 million for a 100 MW solar project in the Indian state of Telangana. Announced during the 22nd session of the United Nations Framework Convention on Climate Change Conference of Parties( COP22), this project will diversify the country’ s power generation mix with a clean source of renewable power and help the country reduce GHG emissions.
The Telangana solar project is the first project approved under the ReNew Master Financing Facility, a $ 250 million facility between OPIC and ReNew to be used for the development, construction, and operation of solar energy projects awarded under the Government of India’ s Jawaharlal Nehru National Solar Mission. Under the ReNew Master Financing
Facility, up to 400 MW of new solar renewable power generation will be constructed in India across multiple projects. ReNew will be utilizing the innovative Master Financing Facility provided by OPIC to streamline the timeline for financing new renewable energy projects.
Generating electricity from renewable energy can reduce a country’ s dependence on fossil fuels and offers significant health benefits, in addition to being a sustainable source of energy. As the fourth largest energy consumer in the world, India must overcome a number of challenges to meet its rising energy demand and sustain economic growth. Currently, solar energy accounts for approximately one percent of total energy capacity in India, or 7.5 gigawatts. This project will support the Government of India’ s goal to have 170 GW of installed renewable capacity by 2022, of which 100 GW are to be solar.
BHEL commissions captive solar photo voltaic power plant in Trichy
A5 Megawatt Peak( Mega Watt peak) grid interactive captive solar power plant has been commissioned by BHEL, Trichy, on its premises in June, as part of its efforts to promote the use of clean and renewable energy sources and to achieve significant reduction in energy costs. The captive power plant, including photovoltaic modules, power conditioning units, high tension switch gear panels and the SCADA( supervisory control and data acquisition) system, were manufactured and supplied by BHEL’ s Electronics Division, Bengaluru. Utilizing an array of 19,968 photovoltaic modules spread over 25 acres, the solar power plant has already generated over 18 lakh units of electricity since June and is expected to facilitate substantial savings in energy costs over the long term.
Payback period for the investment of about Rs 30 crore including civil works is expected to be just 5 years and 1 month while the operational life of the solar power plant will be a minimum of 25 years. While this is the first megawatt scale solar power plant at BHEL Trichy, it has earlier commissioned two 50 kW and one 20 kW solar power plants on the roof-tops of major office buildings including the Administrative Building. Five 30 kW, one 25 kW and one 5 kW roof-top solar power plants are also in operation in the township schools and BHEL Trichy has also installed a total of 289 solar powered street lights so far in its factory and township premises.
www. EQMagPro. com EQ December 2016 49