APT Translations

On a day-to-day basis, solar plants can have such disruptive influence on system electricity flows that utilities have been forced to develop capabilities to rapidly curtail output from other sources and store surplus power for later use.

As part of the agreement, Suzlon will supply the wind turbines and execute the project including foundation, erection, and commissioning.

The fund infusion will help the company in generating its working capital, global renewable energy portfolio development and establishing manufacturing facilities across the globe, it added.

The investment landscape also reflects a slight downturn, with investments in the renewable sector dropping from US$11.7 billion in FY 2022-23 to US$11.4 billion in FY 2023-24.

The company has secured the project at a tariff of INR 2.69 per kWh, which is expected to be completed within 24 months of signing the 25-year Power Purchase Agreement (PPA), Avaada Energy said.

Based in Surat, the company is in process to expand its solar module manufacturing capacity to 1.5 gigawatt (GW), from 700 megawatt (MW) at present, in Tadkeshwar, Gujarat.

The state-run Saudi Power Procurement Co. this week said it had agreed to purchase power at record-low prices from the wind projects to be developed in the kingdom by Japan’s Marubeni Corp.

The planned purchase would be a big increase as industry sources say China's state stockpiler - the National Food and Strategic Reserves Administration - bought 8,700 tons of cobalt metal last year.

I Squared, which manages over $38 billion of assets globally, will deploy the money from its $15 billon global flagship fund and $2 billion growth markets fund raised in 2022, its senior partner Harsh Agrawal told Reuters.

BloombergNEF’s latest New Energy Outlook, a 250-page State of the Transition address, estimates the world must invest $215 trillion by 2050 to zero out carbon emissions and limit global heating to a merely disastrous 1.75 degrees Celsius above preindustrial averages.