News In Brief Jan 23: Nextracker, Saatvik bags EPC Contracts From HPPCL, Jindal Group

Saatvik Green Bags Solar EPC Contracts From HPPCL

Saatvik Green Energy Limited, a solar EPC solutions provider has been awarded two solar EPC contracts by Himachal Pradesh Power Corporation Limited (HPPCL). The contracts, totaling 23 MW, include an 11 MW solar project in Lamlehri Upperli UNA and a 12 MW solar project in Gondpur Bulla UNA. The Gondpur project will use N-TOPCon premium modules, generating 19.13 million units of clean energy annually. The Lamlehri project will feature Mono PERC Solar PV modules, producing 17.13 million units per year.

Under the agreement, Saatvik will be responsible for undertaking the comprehensive designing, suppling, engineering, and construction of these projects, ensuring seamless execution in compliance with all regulatory provisions. The successful execution of these projects is expected to significantly enhance solar energy generation capacity in Himachal Pradesh, contributing to the state’s sustainable development objectives.

Jindal Group To Acquire Domestic & Global Assets 

BC Jindal Group, an Indian conglomerate with over Rs. 18,000 crore turnover, has announced that its renewable energy arm, Jindal India Renewable Energy (JIRE), will consider inorganic acquisitions to meet its target of 5 GW of renewable energy portfolio by 2028. The company claims that these acquisitions are anticipated to be finalised in 1-2 years and will be funded through a mix of internal accruals and debt.

JIRE aims to generate 5 GW of power from solar, wind, hybrid, hydro and FDRE modes. In parallel JIRE is focused on establishing its presence in renewable energy-rich states by developing Renewable projects connected to the grid at CTU and STU to meet the energy demands of utilities as well Industrial and Commercial (C&I) customers.

Nextracker To Partner Sol systems for 182 MW Project In US

Sol Systems, a national clean energy company, has financially closed $345 million in funding for its 182 MW community solar project  in Illinois, US. The project is currently under construction on a 1,050-acre subsurface mine site. The project is being built at the site of a mining site in Randolph County, Illinois into a renewable energy asset generating community and ecosystem benefits for decades to come. The successful financial close of the project was made possible through key collaborations with ING, Churchill Stateside Group, Qcells, Nextracker, and McCarthy Building Companies.