MYSUN, a Delhi based rooftop solar installer, on Wednesday said it has raised USD 4.2 million (or Rs 32 crore) from its existing investors in a structured equity deal as a part of its Pre-Series A round. Besides this USD 4.2 million funding, the rooftop solar installer is also looking to raise another round of […]
Amidst the lockdown imposed across the country due to coronavirus, the demand slowdown is likely to lead to a de-growth of 1.0 percent in electricity demand for the full year of FY2021, as predicted by a leading credit rating agency, ICRA. The rating agency analysed after considering the full lockdown till May 3, 2020, partial […]
With a minimal negative impact of coronavirus, Sungrow, a leading inverter solution supplier for renewables, has reported a growth of 25.4 percent to USD 1.864 billion in its revenue for 2019, against USD 1.572 billion in 2018. The inverter manufacturer shipped 17.1 GW of inverters in 2019 and touched its aggregate overseas shipments to 100 […]
Dehradun-based Discom, Uttarakhand Power Corporation Ltd (UPCL) has floated a tender for the supply of a total number of 900 single-phase (10-60A) whole current solar meters with box. The last date and time for submission of bid is May 27, 2020, at 5 p.m. Also, the estimated cost of tender is Rs 19.80 lakh, and […]
Abu Dhabi Power Corporation (ADPower), a water and electricity company, has received the world’s lowest solar photovoltaic (PV) price of 1.35 US cents/kWh for the United Arab Emirates’ (UAE’s) largest 2 GW of the solar project. This 2 GW solar plant in Al Dhafra is expected to be completed during the second quarter of 2022 […]
Power sector regulator CERC has ordered the extension of validity of Renewable Energy Certificates (RECs) till October 31, 2020. The Central Electricity Regulatory Commission (CERC) in its order stated that the validity of RECs which expired or are likely to expire between April 01, 2020, and September 30, 2020, is extended up to October 31, […]
The outstanding dues of power distribution companies (Discoms) to power generation companies (Gencos) grew by 31.1 percent to Rs 92,674 crore in February 2020, which reflected the continued stress in the power sector. As per the Government of India’s PRAAPTI portal (Payment Ratification And Analysis in Power procurement for bringing Transparency in Invoicing of generators), Discoms […]
With total shipments reached more than 126 GW (or 126,735 MW), the global photovoltaic (PV) inverter shipments grew by 18 percent in 2019 on a y-o-y basis, as said by the global energy research & consultancy firm. As per the new analysis done by Wood Mackenzie, or popularly known as WoodMac, the top 10 global […]
Tech giant ABB has reported a significant drop in its first-quarter results of 2020 as its net income declined by 30 percent to USD 376 million on the back of coronavirus pandemic. The company’s net income remained at USD 535 million during the same period a year ago, ABB said in a statement. Further, it’s […]
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