Serentica Renewables Gets Capital Infusion of INR 3000 Cr from REC Updated On Mon, Sep 25th, 2023 by Saurenergy Serentica Renewables, a C&I focused renewable energy developer in India, has announced the completion of INR 3000 crores of debt funding from REC Limited – one of India’s largest power sector lenders. REC’s support is expected to assist Serentica in developing its hybrid renewable energy projects coming up in Karnataka. The company is setting up […] Read more
As MoUs Worth Lakhs OF Crores Are Announced By PFC, REC, Hopes Rise Updated On Mon, Jul 24th, 2023 by Saurenergy The Central government’s power project financing arms, PFC and its subsidiary REC, have made a slew of green funding announcements recently. In total, the NBFCs Power Finance Corporation Ltd (PFC) and REC Ltd have signed agreements worth ₹5 lakh to fund projects of major green energy firms. While the PFC signed pacts worth ₹2.37 lakh […] Read more
ACME Group Achieves Financial Closure of INR 4,000 Cr Debt for Green Hydrogen & Ammonia Updated On Fri, Jul 21st, 2023 by Saurenergy Diversified renewable energy company ACME Group announced securing INR 4,000 crore loan from one of the India’s largest green infrastructure financial institutions Rural Electrification (REC) Limited for its green hydrogen and green ammonia project in Oman. The loan will be utilized to commence the first phase of the pioneering green hydrogen and green ammonia project, […] Read more
Avaada Group in MoU with REC for INR 20,000 Funding Updated On Thu, Jul 20th, 2023 by Saurenergy On the sidelines of the fourth meeting of the G20 Energy Transition Working Group (ETWG), Avaada Group, has announced a partnership with the Rural Electrification Corporation (REC), concretized through a Memorandum of Understanding (MoU). This agreement ushers in support for Avaada’s energy transition ventures, with the total investment reaching INR 20,000 crores over the next five […] Read more
Traded Power Prices Drop 30% YOY At IEX To Rs 4.74/unit In May Updated On Tue, Jun 6th, 2023 by Saurenergy In a good sign for India’s summer months, power trading prices at the largest power exchange in the country, IEX, dropped 30% YOY to Rs 4.74/unit in May. During the month, the exchange enabled 8,251 MU (million units) of power trades. The green market trades at 358 MU, 1.42 lac Renewable energy certificates (RECs equivalent […] Read more
Power Ministry Notifies Initiation of Bidding For North Eastern Region Expansion ISTS Project Updated On Wed, Apr 19th, 2023 by Saurenergy The Ministry of Power, in its latest notification, issued documents related to the initiation of the bidding process for the Inter-State Transmission System (ISTS) project under the North Eastern Region Expansion Project-XVI scheme. It comes after the REC Power Development and Consultancy Ltd (RECPDCL), a subsidiary of the Ministry of Power, sought global bids for setting up the ISTS […] Read more
IEX achieved 9,212 MU of overall volume in March 2023, Power Prices Average Rs 5.25/Unit Updated On Tue, Apr 4th, 2023 by Saurenergy The Indian Energy Exchange (IEX) on Tuesday claimed that it achieved 9,212 Million Units (MU) of overall volume in March 2023. It included green market trade of 391 MU, 8.69 lakh Renewable Energy Certificates (REC), equivalent to 869 MU, and 22,881 ESCerts (equal to 23 MU). The power exchange claimed that its overall volume during […] Read more
Green Energy Trading Continues Fall on IEX In February Updated On Mon, Mar 6th, 2023 by Saurenergy In its February power trading release, the Indian Energy Exchange (IEX) has disclosed that it enabled trading for 341 million units (MU) of renewable energy in February 2023, a 2% decrease month-over-month (MoM) (347 MU) over the previous month and a 25% year-over-year (YoY) decrease. The average daily trading volume on the exchange increased by 5% […] Read more
ANERT Issues Tender for Supply of 22 Solar Power Packs for Push Carts Updated On Sun, Feb 5th, 2023 by Saurenergy The ANERT (Agency For Non-conventional Energy And Rural Technology) has issued a tender for 22 standalone off-grid Solar PV power packs for push carts in Kollam and Alappuzha districts of Kerala. ANERT is the “State Nodal Agency (SNA) for the Ministry of New and Renewable Energy (MNRE), Govt. of India, to carry out the centrally […] Read more
