Daily News Recap: Adani Bags Karur Transmission Project To Evacuate Renewable Energy
Here are some notable clean tech announcements of the day around the world:
Adani Transmission (ATL) a has received the letter of intent (LoI) for the acquisition of Karur Transmission. ATL won the project in a rate-based bidding process and received the letter of intent for the central renewable energy evacuation project. ATL will build, own, operate and maintain the transmission project in Tamil Nadu for 35 years. The project incorporated by PFC Consulting consists in establishing a Karur 2 × 500 MVA, 400/230 kV line pooling station line on the two circuits of the 400 kV DC Pugalur – Pugalur (HVDC) line. The execution of the ATL project will help to evacuate renewable energies from the Karur-Tiruppur region. The estimated capital expenditure is over 2 billion yen (approximately $ 26.67 million).
Meyer burger Technology has selected Arizona for the establishment of its new high performance solar module plant in the United States. The plant is expected to reach a production capacity of 1.5 GW. The manufacturing plant will be based in the town of Goodyear and will have an initial annual production capacity of 400 MW. The plant will manufacture photovoltaic solar modules for residential, commercial, industrial and large-scale applications. It should be operational by the end of next year. The US plant will be the first Meyer Burger production base outside of Europe. Initially, it will create 250 jobs and will double when the total capacity of 1.5 GW is reached.
Sterlite Brazil Participações, a subsidiary of the Indian company Sterlite power transmission, won lot 02 in the transmission auction promoted by the National Agency of Electric Energy in São Paulo. The authorized annual income (PAR) of the project is 7.093 million reais (~ $ 1.3 million), which corresponds to a reduction of 66.9% from the maximum amount of 20.914 million reais (~ 3, $ 8 million). Five business lots were auctioned. Lot 2 is located in the state of Bahia and concerns the construction of a substation in Olinda. Currently, Sterlite Brazil has five ongoing projects.
Solar Philippines Nueva Ecija Corporation a announcement start of work on its 500 MW solar farm in Nueva Ecija in the Philippines. The company will use a portion of the proceeds from its recent 2.7 billion yen (approximately $ 53.7 million) public offering (IPO) to finance the installation of the first 50 MW sub-phase of the project. The remaining funds would be used to build the interconnection for the full 500 MW and the acquisition of land to expand the Nueva Ecija plant beyond. The first 50 MW solar project is expected to be commissioned by the end of 2022.
Arjun Joshi is a journalist at Mercom India. Prior to joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and overseas. He holds a BA in Journalism, Psychology and Optional English from Garden City University, Bangalore. More articles from Arjun Joshi.