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26 February 2025powerplant
Feb 26, 2025
PSEG is “constructively positioned” going into 2025, according to Guggenhoim Securities analysts, led by Shahriar Pourreza. “Among utility peers, we believe [PSEG] offers potential earnings upside from data center commercial agreements, higher PJM regional load growth driving transmission investments, a constructive regulatory environment and no need for equity financing during a time of major equity issuance for the utility sector, driven by incremental growth and balance sheet repair,” the analysts said in a note Tuesday.
However, the potential large load growth comes amid uncertainty surrounding the future of the PJM Interconnection’s capacity market.
“I don't know if there is a PJM market anymore,” LaRossa said, noting that some states in the grid operator’s footprint are exploring alternative approaches to ensuring they have adequate power supplies.
“My concern there is mostly from a reliability standpoint,” LaRossa said. “Are we going to be able in this construct, to attract generation to the PJM region as a whole, and if so, is it going to be in a timely enough fashion?”
New Jersey is at a crossroads, according to LaRossa. “We're all trying to figure out the best way to move forward. I don't think there's a clear answer on it.”
Customer affordability is also a major issue, according to LaRossa. Driven by the results of PJM’s most recent capacity auction, the New Jersey Board of Public Utilities expects electric bills for PSE&G’s residential customers will jump 17.2% on average for the 12-month period starting June 1. The utility, which has about 2.4 million electric customers, makes no money on the default supply of electricity.
Pending action at the Federal Energy Regulatory Commission on rules for colocating load at power plants hasn’t slowed discussions with potential customers, according to LaRossa. “They seem to have understood the urgency in what they said, even though we didn't get complete clarity,” he said.
FERC could approve colocation rules for PJM as soon as late June, according to Morgan Stanley analysts.
PSEG raised its capital spending plan for 2025 to 2029 to $22.5 billion to $26 billion, up $3.5 billion from its previous plan, LaRossa said. The Newark, New Jersey-based company expects that all of its capital requirements over the next three years will come from internally generated funds and debt financing, PSEG said Tuesday in its annual report filed with the U.S. Securities and Exchange Commission.
As part of the overall increase, PSE&G increased its five-year capital investment plan about 15% to $21 billion to $24 billion for 2025 through 2029, with a focus on infrastructure modernization, energy efficiency and load growth, the company said.
As a result, PSEG said it expects the utility’s rate base will grow at a 6% to 7.5% compound annual rate over the next five years.
PSEG’s income fell to $1.8 billion, or $3.54/share, in 2024 from $2.7 billion, or $5.13/share the year earlier, the company said in a press release. Revenue dipped to $10.3 billion in 2024, from $11.2 billion in 2023. Not counting one-time items, PSEG’s operating earnings increased to $1.8 billion last year from $1.7 billion in 2023.
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Global Solar Tracker Shipments Reach 111 Gw In 2024The global solar tracker market had a record year in 2024, shipping 111 GW of product, according to Wood Mackenzie. This represents 20% growth year-over-year for shipments of ground-mount solar tracker systems.
Nextracker remained the top global supplier for the tenth year in a row, shipping 28.5 GW, or about 26% of global market share. The company had 39% year-over-year growth in 2024.
Other global market share leaders included Arctech Solar, Gamechange Solar, PV Hardware and Array Technologies.
Artech Solar, the largest Chinese-headquartered tracker supplier, jumped up market share rankings, overtaking Array, GameChange and PV Hardware. The company held a second-place ranking in the Saudi and Indian markets, which together combined for 28 GW of tracker demand, exceeding the demand of all of Europe in 2024. Chinese suppliers increased focus in overseas supply as domestic tracker demand declined for a second straight year.
“The year was marked by the rapid growth of the Indian and Saudi Arabian tracker markets, which led to a shake-up of the U.S.-dominated podium from 2023, ” said Joe Shangraw, research associate at Wood Mackenzie.
The U.S. tracker market retracted for the first time in eight years with 33 GW of shipments, down 9% from the record year in 2023. GameChange Solar ranked second among U.S. suppliers, surpassing Array Technologies, which had over a 35% drop in domestic shipments in 2024, said Wood Mackenzie.
The top three suppliers – Nextracker, Gamechange and Array – combined for over 90% of the U.S. domestic market.
While the U.S. tracker market is highly consolidated, the European market remains competitive and diverse, with over nine vendors capturing between 5% and 15% of market share, said Wood Mackenzie.
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13 June 20255 min readGlobal Solar Tracker Shipments Reach 111 Gw In 2024
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13 June 2025
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Solarium Green Energy To Restart Solar Module Production With New 1 Gw PlantFrom pv magazine India
Solarium Green Energy will re-enter solar module manufacturing with a fully automated 1 GW production line in Ahmedabad, in the Indian state of Gujarat.
The rooftop solar solutions supplier had operated a 100 MW polycrystalline module facility, launched in 2018, but shut it down after the Indian Ministry of New and Renewable Energy (MNRE) implemented the Approved List of Models and Manufacturers (ALMM) mandate requiring a minimum module efficiency of 19%.
The new 1 GW facility, with an estimated project capital expenditure of INR 700 million ($8.2 million) plus necessary working capital, will be funded with a debt-to-equity ratio of 3:1. It is scheduled to begin commercial operations in the fourth quarter of fiscal year 2025-26.
Solarium said the backward integration is part of its strategy to reduce project costs. In engineering, procurement, and construction (EPC) projects, solar modules typically account for 50% to 60% of total project cost. By establishing an in-house manufacturing facility, the company aims to reduce cost volatility, accelerate project execution, secure its supply chain, and improve margins.
The facility will produce crystalline silicon solar modules using advanced technologies such as tunnel oxide passivated contact (TOPCon) cells, half-cut cells, and bifacial cells. Imported tabber-stringers, laminators, and sun simulators will ensure high-quality output and efficiency.
“We are excited to re-enter the manufacturing space and are confident of the synergy this module manufacturing will bring to our supply chain,” said Ankit Garg, chairman and managing director of Solarium. “There are three key components in a solar plant: solar module, inverter and structure. At 85% plant utilization, the plant can generate revenue of more than [INR 10 billion] annually if modules are sold in the market. With captive consumption of modules, by eliminating third-party markups, we expect the gross margin to improve by 5% to 8% in projects where these modules will be used.”
Solarium is also entering structure manufacturing – one of the three core components of a solar plant – at its existing facility in Bavla, Gujarat. This move will further enhance execution capabilities and shorten project timelines. As part of its integrated strategy, Solarium recently announced a collaboration with WattPower Systems to expand distribution of high-quality solar inverters across Madhya Pradesh and Maharashtra.
The Ahmedabad facility aims to mitigate supply chain risks from trade disruptions, geopolitical uncertainties, and price volatility. Any additional capacity beyond captive consumption will be sold to other EPC players and the B2B segment.
Founded in 2018, Solarium provides turnkey solar solutions, including design, engineering, procurement, testing, installation, commissioning, and full-scale operation and maintenance (O&M). The company offers solar products such as PV modules, inverters, and Availability Based Tariff (ABT) meters. It has executed more than 65 MW of projects across over 18,000 homes via an in-house sales team and more than 350 channel partners. It also serves commercial, industrial, and government clients, with more than 35 MW of rooftop projects and 30 MW of ground-mounted projects completed.
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12 June 20255 min readSolarium Green Energy To Restart Solar Module Production With New 1 Gw Plant
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12 June 2025
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India Prepares Solar Waste Policy As Installations Top 100 Gw And Disposal Challenge Looms – EqIn Short : India has drafted solar waste management rules as its solar capacity exceeds 100 GW, anticipating 6 lakh tonnes of waste by 2040. The proposed policy introduces extended producer responsibility, recycling obligations, and infrastructure planning. Aimed at sustainable disposal, the rules seek to address the growing environmental challenge posed by end-of-life solar modules as installations surge nationwide.
In Detail :India has prepared draft rules for managing solar waste, responding to the rapid growth of its solar power sector, which has now crossed the 100 GW capacity mark. With installations accelerating, the country is facing a looming challenge of handling large volumes of end-of-life solar panels.
According to estimates, India is likely to generate around 600,000 tonnes of solar waste by 2040. A portion of this waste is expected to begin accumulating as early as 2030, prompting the need for an effective and sustainable disposal system.
The draft policy introduces extended producer responsibility (EPR), making manufacturers responsible for the collection, recycling, and proper disposal of used solar modules. This approach mirrors waste management rules in other sectors like electronics and plastics, emphasizing a lifecycle approach to product sustainability.
Recycling and refurbishment have also been highlighted as key components of the proposed rules. The policy aims to encourage reuse and recovery of valuable materials like silicon, glass, and metals from discarded solar panels, minimizing the environmental footprint of solar energy systems.
The government is also planning to set up infrastructure for safe storage, handling, and processing of solar waste. This includes dedicated facilities for dismantling and recycling solar modules, supported by clear compliance and monitoring mechanisms.
By proactively addressing the issue of solar waste, India aims to ensure that its clean energy expansion does not lead to new environmental problems. The draft rules mark an important step toward integrating circular economy principles into the renewable energy sector.
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12 June 20255 min readIndia Prepares Solar Waste Policy As Installations Top 100 Gw And Disposal Challenge Looms – Eq
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12 June 2025
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Duke Energy Advances New 1.4-Gw Gas-Hydrogen Power Plant In South Carolina Under New Energy Security MandateDuke Energy intends to submit an application to South Carolina’s Public Service Commission (PSC) for approval to build a 1.4-GW gas-fired combined cycle plant with hydrogen capability in Anderson County. If approved, the project, which could come online in 2031, will mark the company’s first new generation proposal in the state in a decade.
The utility on June 9 announced it intends to file a construction application to the PSC later this year to build the proposed plant on a on a 200-acre site along Highway 81 South near True Temper Road.
“The project is currently in the early stages of planning, engaging, and permitting,” it said on a company page. “Public engagement is an important part of the development process, as it helps us understand local interests, priorities and identify opportunities to have a meaningful and positive presence in the community.” The project has yet to undergo “several more years of study and due diligence before committing to move forward,” it said.
“If we proceed with the project and obtain all necessary approvals and permits, construction could begin in mid-2027 with operations targeted for as early as January 2031. Updates and milestones will be shared throughout the process,” it said.
Duke Energy’s most recent gas-fired power plant built in the Palmetto State is the W.S. Lee Station in Anderson County, South Carolina, which began operating on April 5, 2018. The 750-MW combined-cycle natural gas plant powers up to 600,000 homes using high-efficiency technology that captures exhaust heat to generate additional electricity. The company’s newly proposed 1,400-MW hydrogen-capable combined-cycle plant—announced in June 2025 for a site in the same county—will mark Duke Energy’s first new generation project request in South Carolina in over a decade. Courtesy: Duke Energy
Duke Energy’s Anderson facility will deploy GE Vernova’s gas turbines and associated equipment, manufactured at the company’s Greenville, South Carolina, plant. The effort will leverage a sweeping April 2025 agreement between the two firms that could secure up to 11 7HA units across Duke’s service territories, where surging industrial and data center demand is driving rapid capacity expansion.
The partnership is the latest between an array of original equipment manufacturers (OEMs) and utilities and power companies, which are seeking to address an intensifying push to lock in dispatchable generation. As POWER reported in its April 2025 cover story, “Gas Power’s Boom Sparks a Turbine Supply Crunch,” utilities are facing long lead times and competitive bidding for production slots, with some deliveries stretching into 2029 or beyond. The gas turbine crunch has prompted a return to practices not seen since the early 2000s—including upfront reservation fees and multi-year turbine procurement planning.
GE Vernova, which booked 22 GW in gas turbine orders in 2024 (and appears to have reclaimed the global lead for advanced-frame units), is aggressively expanding its U.S. manufacturing capacity to meet surging demand. In January, the company announced a $160 million investment at its Greenville, South Carolina, facility—its largest since the company’s spinoff from GE in April 2024. The expansion is expected to support increases in turbine production, quality, testing capabilities for hydrogen fuel, and delivery speed.
The Greenville site, which has produced turbines since 1968, is central to GE Vernova’s broader $600 million U.S. manufacturing initiative and part of a $9 billion global capital and research and development plan through 2028. GE Vernova CEO Scott Strazik on April 23 noted that the upgrades will raise global heavy-duty turbine capacity by more than 25%—from 55 units per year to between 70 and 80 by 2026.
Duke Energy, however, has not disclosed the terms of its agreement with GE Vernova or contingency plans if supply chain disruptions occur. While the company cites reliability as a key driver for the Anderson County plant, it also notes its effort is backed by its future planning and recent policy developments in South Carolina, including the Energy Security Act, which Governor Henry McMaster signed into law on May 12, 2025.
“The significant, wide-ranging energy legislation is the result of bipartisan efforts to holistically address the unprecedented economic growth and corresponding generation needs of the state,” noted law firm McGuirWoods in May. “The 72-page law seeks to achieve this goal through measures including provisions impacting South Carolina ratemaking, integrated resource planning, facilitation of new generation, expanded policy support for advanced nuclear resources, energy efficiency initiatives, new economic development rate design framework, and refinements to the existing regulatory process and state energy policy.”
Notably, the Energy Security Act specifically urges Duke Energy Carolinas and Duke Energy Progress to evaluate and deploy hydrogen-capable or conventional natural gas facilities as part of their integrated resource plans, reflecting the state’s push for both immediate reliability and future fuel flexibility. In parallel, the law directs Dominion Energy South Carolina and the state-owned Santee Cooper to jointly develop new natural gas generation at or near the former Canadys coal plant—a site that, once converted, is expected to become one of the nation’s largest gas power stations and a linchpin in replacing retiring coal assets.
The law also encourages Duke to expand energy storage, including pumped hydro at its Bad Creek facility, and instructs Santee Cooper to consider using domestic wood products as auxiliary fuel sources. And, more broadly, the law emphasizes expedited siting and permitting of brownfield energy projects—such as Duke’s Anderson County proposal—by instructing all state agencies to prioritize reviews and approvals of energy infrastructure over the next decade, recognizing these projects as “crucial to the welfare of the state.” Agencies will be required to provide accelerated consideration and assistance, with strict deadlines for permit decisions, to ensure that new generation and grid upgrades can keep pace with South Carolina’s surging economic and population growth.
According to Duke Energy, the Anderson plant is consistent with “near-term actions approved in the company’s Carolinas Resource Plan in 2024.” In November 2024, the North Carolina Utilities Commission (NCUC) issued an order accepting a broad stakeholder settlement that endorsed Duke Energy’s revised load forecasts, affirmed a more diverse resource mix, and approved near-term development of three new combined cycle gas units and four combustion turbine units by 2031. Those additions—CC1 through CC3 and CT1 through CT4—are now being actively implemented. However, the NCUC also directed Duke Energy to continue refining its long-term modeling, especially in light of growing demand and technology shifts, and to submit a fully updated Integrated Resource Plans (IRP) in fall 2025.
For now, Duke Energy is working to finalize its next IRP for the Carolinas, which is due to the NCUC in September 2025 and to the Public Service Commission of South Carolina by November 2025. The utility, which serves over 4.6 million retail customers in the region, has spent the first half of 2025 holding a four-part public engagement series—facilitated by the Great Plains Institute—to review evolving grid needs, technology assumptions, and long-term resource strategies.
During a May 22 IRP session, the utility stressed its strategy will be essential to keeping pace with projected annual load growth of 4% to 5% in the Carolinas, driven by more than 1,000 MW of new commercial and industrial demand now backed by signed or near-final customer commitments. The company’s current efforts detail a framework to evaluate capacity additions through 2040, and place a sharp focus on firm, dispatchable resources that can meet rising peak demand amid a rapid influx of large industrial loads, data centers, and advanced manufacturing facilities across both states.
Notably, the May session suggests that Duke Energy is modeling up to five new combined cycle gas plants and at least four new combustion turbine units by 2040. The company’s modeling caps combined cycle additions at two projects per year, with cumulative limits that trigger additional infrastructure requirements beginning with the fourth unit.
Owing to persistent constraints in the Transcontinental Gas Pipe Line Zone 5 pipeline corridor, Duke confirmed that any gas project beyond CC3 could require incremental fuel security—either through firm interstate transportation (FT) or the development of intrastate liquefied natural gas (LNG) storage. Internal modeling, notably, assumes 14 days of full-load burn coverage per CC unit, and Duke Energy is currently evaluating capital costs and seasonal dispatch scenarios to determine whether LNG could provide a more cost-effective hedge against both fuel volatility and renewable intermittency.
The May meeting also focused heavily on hydrogen-capable gas turbines. Duke planners discussed leveraging OEM forecasts, such as GE Vernova’s projection of 100% hydrogen capability in advanced-class turbines by 2030, to inform fuel flexibility scenarios. It suggests the IRP will include sensitivity runs incorporating hydrogen price projections, tax credit trajectories, and potential hydrogen blending timelines, especially as federal support for Southeast Hydrogen Hub development remains uncertain. Modeling from the utility indicates that hydrogen readiness may be a critical differentiator for new gas units, which may remain operational through 2050 and beyond.
While the Carolinas IRP is also modeling significant additions of solar, battery storage, and long-duration energy storage (LDES), Duke Energy made clear that firm capacity remains a near-term priority. The company is simultaneously advancing early site permitting for new nuclear units—including small modular reactors—and exploring expanded pumped hydro, even if those resources are unlikely to be online this decade.
In its November 2024 order, for example, the NCUC approved $440 million in early development costs to advance Duke Energy’s next wave of nuclear capacity, targeting 300 MW of advanced nuclear online by 2034 and 600 MW by 2035. The May 2025 IRP meeting suggests Duke is preparing to submit an early site permit application this year for small modular reactors (SMRs) at its Belews Creek site in North Carolina, while also conducting feasibility work for deploying AP1000 large light-water reactors at the W.S. Lee site in South Carolina.
Additional reactors at Harris Nuclear Plant in North Carolina are also under study. The company is modeling technologies including the GEH BWRX-300, X-energy’s Xe-100, and TerraPower’s Natrium design, and participating in DOE-supported collaborative efforts to accelerate licensing and reduce costs through standardized reactor design.
—Sonal Patel is a POWER senior editor (@sonalcpatel, @POWERmagazine).
Power News
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11 June 20255 min readDuke Energy Advances New 1.4-Gw Gas-Hydrogen Power Plant In South Carolina Under New Energy Security Mandate
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11 June 2025
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Water-Based Photovoltaics Reach Global Capacity Of 21.18 GwA research group led by scientists from China’s Tianjin Normal University has used satellite images to reveal the rapid development of global water-based PV (WPV) over the past 20 years.
WPV comprises both floating PV systems and photovoltaic plants deployed on fixed structures in shallow waters.
For the task, the team has developed an index-based remote sensing method, which they called the normalized difference photovoltaic index (NDPI). Index-based methods are mathematical formulas that identify land features based on spectral indices, which are calculated using different bands of light captured by satellites.
“Compared to traditional thresholding and machine learning approaches, index-based methods are based on the universal features of target objects, offering greater adaptability to variations in environmental conditions,” the academics said. “Additionally, index-based methods provide faster and more flexible solutions for WPV mapping and information updates, as they directly respond to the spectral characteristics of the target objects. Moreover, WPV arrays, typically located on water surfaces, exhibit lower susceptibility to environmental disturbances compared to terrestrial PV power plants.”
To create their NDPI method, the researchers analyzed 5,000 sites globally from Google Earth. The samples were divided into five land cover types, namely bare soil, impervious surface, vegetation, water, and PV. Based on the analysis of the images, solar panels reflect more shortwave infrared (SWIR1) light than most surfaces and reflect less visible light and near-infrared (NIR) than land or water.
Following these discoveries, the team was able to design formulas that detect solar panels on water. The method was then verified over 1,000 WPV, and accuracy (OA) for spatial distribution and installation date of 0.935 and 0.927, respectively, was achieved. “Overall, the installation dates of WPV showed high accuracy, with user’s accuracy (UA), producer’s accuracy (PA), and F-score values exceeding 0.9 for all years except 2012 and 2013,” they said.
As the method was verified, the scientists tested it on 2023 images from the Sentinel-2 MSI satellite sensor operated by the European Space Agency (ESA). Using 2000-2023 images from NASA’s Landsat satellite, the team has tested the NDPI for installation date trends.
“The global WPV area reached 589.14 km2 in 2023. Notably, the growth of global WPV accelerated significantly after 2015, with an annual growth rate of 56.06 km2 yr-1, nearly ten times that of the 2000–2015 period (5.98 km2 yr-1),” the results showed. “WPV development has been particularly rapid in Asia, driven primarily by China. In 2023, the WPV area in China reached 472.92 km2, accounting for more than 80% of the global total.”
The analysis revealed that Asia is the primary contributor to global WPV, accounting for over 97% of the WPV area, followed by North America with 1.569%, while all other continents had a combined contribution of about 1%. While China was the dominant contributor, with a WPV area of 472.92 km2, Thailand and Vietnam emerged as key areas with areas exceeding 20 km2 in each.
“In China, policy support has notably accelerated WPV development, with the WPV area increasing from 104.89 km2 in 2016 to 472.92 km2 by 2023,” they noted. “Apart from China, the WPV area in Vietnam also increased from 6.17 km2 in 2017 to 24.24 km2 in 2023, and the WPV area in Thailand nearly tripled from the previous year to 2023. In Europe and North America, WPV areas also continue to show an upward trend, with a significant acceleration in growth between 2005 and 2009.”
Concluding their research, the team said it estimates the global installed capacity of WPV to be 21.18 GW, with projections suggesting it could reach 35.64 GW by 2030.
Its findings were presented in “Satellite images reveal rapid development of global water-based photovoltaic over the past 20 years,” published in the International Journal of Applied Earth Observation and Geoinformation.
Scientists from China’s Tianjin Normal University, Henan University of Technology, Advanced Laser Technology Laboratory of Anhui Province, Fujian Agricultural and Forestry University, Zhejiang University, and Finland’s National Survey of Finland have participated to the research project.
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11 June 20255 min readWater-Based Photovoltaics Reach Global Capacity Of 21.18 Gw
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11 June 2025
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Plug Power And Aga Expand Partnership With 2 Gw Electrolyser Deal In UzbekistanPlug Power has expanded its partnership with Allied Green Ammonia (AGA) with a 2 GW electrolyser deal tied to a sustainable fuels project in Uzbekistan. The deal will be executed during the Tashkent International Investment Forum. Plug Power’s electrolyser technology has been selected as the foundation of a $5.5 billion green chemical production facility in Uzbekistan. The facility will produce sustainable aviation fuel, green urea, and green diesel, and is backed by the Government of Uzbekistan.
Furthermore, the Uzbekistan project builds on AGA’s previously announced 3 GW electrolyser commitment for its flagship green ammonia facility in Australia. The project is on track for a final investment decision in the fourth quarter of 2025.
Earlier in January 2025, Plug Power closed a $1.66 billion loan guarantee from the US Department of Energy’s Loan Programs Office. The loan guarantee will help finance the construction of up to six projects to produce and liquify zero- or low-carbon hydrogen at scale throughout US. These facilities will produce clean hydrogen by utilising the company’s electrolyser technology.
Renewable Watch
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11 June 20255 min readPlug Power And Aga Expand Partnership With 2 Gw Electrolyser Deal In Uzbekistan
Renewable Watch
11 June 2025
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Us Solar Developers Secure Over $1 Billion For 1.4 Gw Of ProjectsFrom pv magazine USA
Despite ongoing regulatory battles and an uncertain fate for clean energy tax credits, solar developers are booking major funding deals to support their project portfolios.
Solar is expected to represent over 50% of new electricity capacity added to the grid this year and utility-scale developers are moving projects forward. The group of deals suggests continued investor confidence in solar as a bankable and resilient asset.
In the first of three deals announced this week, New Jersey-based Soltage – an independent power producer that develops, finances and operates distributed utility-scale solar and energy storage assets – closed a $260 million construction and term debt financing facility.
Soltage said that it has developed more than 125 clean energy projects totaling more than 500 MW of distributed-generation PV capacity.
The company has a 2 GW-plus project pipeline across the United States. The financing structure includes a revolving construction loan, tax equity bridge loan and term loan facility, offering Soltage flexible capital to continue developing, building, and operating solar assets.
The facility was structured and led by National Bank of Canada, alongside First Citizens Bank, with BankUnited, Cadence Bank, and Siemens Financial Services joining as joint arrangers. Legal counsel was provided by Foley Hoag LLP on behalf of Soltage, and Norton Rose Fulbright LLP represented the lending syndicate.
Next up, Origis Energy announced the successful financial closing of its Wheatland solar project with MUFG, one of the 10 largest financial groups globally. Wheatland solar is part of a $530 million portfolio financing with the group, which also includes the Optimist Solar and Storage Project.
Wheatland is a 150 MW solar project in Knox County, Indiana, scheduled for completion in the first half of 2026. It has secured a power purchase agreement with utility CenterPoint Energy.
Optimist Solar brings 200 MW of solar and 50 MW/200 MWh of battery energy storage to Clay County, Mississippi.
MUFG acted as coordinating lead arranger, green loan coordinator, and administrative agent for the Wheatland solar project financing. Joint lead arrangers included Associated Bank, CoBank, National Bank of Canada, and NatWest, while Amalgamated Bank and Siemens Financial Services participated as lenders.
Latham & Watkins represented Origis Energy in the transaction, with Taft Stettinius serving as local counsel. Milbank LLP advised MUFG, with Dentons acting as local counsel.
Finally, rPlus Energies closed more than $500 million in tax equity investment for the Green River Energy Center project in Emery, Utah. The financing will use the US Investment Tax Credit, rPlus Energies said in a statement.
The project, expected to be complete in 2026, will add 400 MW of solar and 400 MW/1,600 MWh of battery energy storage to the Utah grid. It will supply power and grid services to utility PacifiCorp via a long-term power purchase agreement.
The project is expected to generate more than $55 million in direct economic benefits for Emery County over the next 20 years.
rPlus Energies closed more than $1 billion in construction debt financing for the project last year. Green River Energy Center is among the largest solar projects in development in the United States.
Norton Rose Fulbright, CCA, and Dorsey & Whitney advised rPlus Energies, and Sidley Austin and Snell & Wilmer advised RBC on behalf of the tax equity syndicate.
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11 June 20255 min readUs Solar Developers Secure Over $1 Billion For 1.4 Gw Of Projects
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11 June 2025
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India Offers $631.5 Million To Support 30 Gwh Of Battery StorageFrom pv magazine India
India’s Ministry of Power has announced the second tranche of its VGF scheme to support the development of 30 GWh of BESS, with a total budget of INR 5.4 billion. The funding will come from the Power System Development Fund.
The scheme will provide financial support to 15 states and NTPC, allocating INR 1.8 million/MWh for each project. Of the total 30 GWh target, 25 GWh will be distributed among 15 states to meet their energy storage needs, while 5 GWh will be allocated to NTPC to optimize existing thermal generation and transmission infrastructure and supply electricity during non-solar hours reliably and cost-effectively.
The state-wise allocation is as follows:
Rajasthan, Gujarat, Maharashtra with 4 GWh eachKarnataka, Andhra Pradesh with 2 GWh eachTamil Nadu, Madhya Pradesh, Telangana, Uttar Pradesh with 1.5 GWh eachHaryana, Kerala, Punjab, Chhattisgarh, Odisha, Uttarakhand with 500 MWh each
The VGF will be disbursed in three stages:
20% upon financial closure of the project50% upon commissioning30% after one year of operation from the commissioning date
Projects must be commissioned within 18 months from the signing of the battery energy storage purchase agreement (BESPA) or power purchase agreement (PPA). The projects will be awarded through a tariff-based competitive bidding process.
According to the Central Electricity Authority (CEA), India requires 37 GWh of BESS capacity by 2027 and 236 GWh by 2031-32. So far, 13.2 GWh of BESS capacity has been approved under the ongoing VGF scheme.
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11 June 20255 min readIndia Offers $631.5 Million To Support 30 Gwh Of Battery Storage
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11 June 2025
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India Successfully Met Peak Power Demand Of 241 Gw On 9Th June, 2025 With Zero Peak Shortage: Shri Manohar Lal – EqIn Short : India successfully met a record peak power demand of 241 GW on June 9, 2025, without any shortages, said Union Power Minister Manohar Lal. This milestone reflects robust grid performance amid rising summer demand. With installed capacity nearing 475 GW and major investments in renewables and storage, India is strengthening its energy security and infrastructure resilience.
In Detail :India added its highest-ever generation capacity of 34 GW during 2024-25, with renewable energy accounting for 29.5 GW: Shri Manohar Lal
Big Push for Battery Energy Storage: 30 GWh VGF Scheme Launched
Ultra-High Voltage AC Transmission System to Reshape India’s Grid by 2034
Compensation for Power Transmission Lines Increased
Boost for Storage: ISTS Waiver Extended for Storage Projects
Union Minister Shri Manohar Lal highlights 11 years of transformative growth in power sector in a press conference in New Delhi today.
Union Minister Shri Manohar Lal said that it is our goal to make power accessible to everyone and at all times and the government is aiming for 100% electrification of households across the country. Union Minister Shri Manohar declared that India has become power sufficient meeting all its power demands and well on the path of power surplus country.
1. India Meets Peak Demand with Zero Shortage
Union Minister Shri Manohar Lal informed that demonstrating remarkable growth and resilience, India successfully met peak power demand of 241 GW on 9th June, 2025.
This achievement, underscores the nation’s robust power infrastructure, with zero peak shortage reported.
2. Big Push to Battery Energy Storage: VGF Scheme for 30 GWh Battery Storage
Shri Manohar Lal announced that in a massive push for energy security and renewable integration, the Ministry of Power has approved a Viability Gap Funding (VGF) scheme for 30 GWh of Battery Energy Storage Systems (BESS), in addition to the 13.2 GWh already underway.
This Rs 5,400 Crore scheme aims to attract Rs 33,000 Crore in investment, meeting the country’s BESS requirement by 2028.
3. Boost for Storage: ISTS Waiver Extended for Storage Projects
Union Minister Shri Manohar Lal in the press conference stated that the waiver of Inter-State Transmission System (ISTS) charges for storage projects has been extended until 30th June, 2028, benefitting Pumped Storage Projects awarded and Battery Energy Storage Systems commissioned before this date.
This extension is crucial for meeting India’s growing storage needs and optimising the utilisation of transmission lines.
4. UHV AC Transmission System to Reshape India’s Grid by 2034
Shri Manohar Lal said that India is set to revolutionize its power transmission with the rollout of an Ultra High Voltage Alternating Current (UHV AC) Transmission System.
Nine 1100 kV lines and ten substations have been identified for development by 2034, with testing facilities under development by the Central Power Research Institute. Investment would be Rs 53,000 Cr
5. Compensation for Power Transmission Lines Increased
Shri Manohar Lal said that in a landmark move, the central government has increased the compensation for land used in laying transmission lines to ease the Right of Way issues.
Compensation for the tower area has jumped from 85% to 200% of the land value, and for the Right of Way (RoW) corridor from 15% to 30%, directly linking land value to market rates. Haryana and Delhi have already adopted the new guidelines issued on March 21, 2025.
6. More Private Investments in State Transmission Grids
In a move set to attract more private investment and ensure financial discipline, the Late Payment Surcharge (LPS) Rules have been expanded to include Intra-State Transmission Systems. This crucial reform, previously applied only to Inter-State Transmission Systems, aims to expand the Intra-State Transmission networks to absorb Renewable Electricity.
7. India Adds Historic 34 GW Generation Capacity in FY25, Led by Renewables
Shri Manohar Lal also stated that in an unprecedented feat, India added its highest-ever generation capacity of 34 GW during 2024-25, with renewable energy accounting for 29.5 GW. The nation’s total installed capacity now stands at 472.5 GW, up from 249 GW in 2014.
8. 250 MW Tehri Pumped Storage Project (PSP) Commissioned
Adding flexibility to the grid, 250 MW first unit of Tehri Pumped Storage Project (PSP) in Uttarakhand has been commissioned. This project will help in managing peak demand and integrating renewable energy.
9. Energy Shortages Plummet to Record Low of 0.1% Nationally
A testament to significant additions in generation and transmission capacities, India’s national energy shortage has drastically reduced to a mere 0.1% as of April 2025. This marks a monumental improvement from the 4.2% shortage experienced in 2013-14, ensuring greater power availability for all.
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EQ Mazagine
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11 June 20255 min readIndia Successfully Met Peak Power Demand Of 241 Gw On 9Th June, 2025 With Zero Peak Shortage: Shri Manohar Lal – Eq
EQ Mazagine
11 June 2025
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Saatvik Solar To Develop 4 Gw Module Manufacturing Facility In OdishaSaatvik Solar Industries Private Limited, a wholly owned subsidiary of Saatvik Green Energy Limited (SGEL), has commenced work to develop a 4 GW solar PV module manufacturing facility in Odisha. The facility will be set up on 57 acres of land sub-leased from Tata Steel Special Economic Zone Limited, located at the Gopalpur industrial park in Ganjam district.
The facility is part of an integrated expansion plan that includes a 4.8 GW solar cell manufacturing unit and a 4 GW module line. The cell manufacturing facility is scheduled to become operational by the end of financial year 2026-2027, while the module line is expected to be ready by the end of financial year 2025-2026.
Additionally, SGEL is in the process of augmenting its existing module manufacturing capacity by 1 GW at its manufacturing facilities in Ambala in Haryana, expected to be operational by the first quarter of the financial year 2025-2026. With these additions, the company’s total manufacturing capacity is projected to reach 4.8 GW for cells, and 8.8 GW for both integrated cell and module manufacturing across the facilities in Ambala and Odisha.
Renewable Watch
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10 June 20255 min readSaatvik Solar To Develop 4 Gw Module Manufacturing Facility In Odisha
Renewable Watch
10 June 2025
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Purvah Green Power Signs 1 Gw Wtg And O&M Agreement With Envision EnergyPurvah Green Power Private Limited, a subsidiary of CESC Limited, has signed a framework agreement with Envision Energy India Private Limited for the supply and commissioning of 1 GW of wind turbine generators (WTGs).
The agreement also includes operations and maintenance (O&M) services for a period of 10 years from the weighted average date of commissioning.
Powerline
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10 June 20255 min readPurvah Green Power Signs 1 Gw Wtg And O&M Agreement With Envision Energy
Powerline
10 June 2025
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Tata Power Hits 4 Gw Of Solar Module Production CapacityFrom pv magazine India
TP Solar Ltd., the manufacturing unit of Tata Power and a wholly owned subsidiary of Tata Power Renewable Energy Ltd (TPREL), has surpassed 4 GW of solar module production at its facility in Tamil Nadu, India. As of May 31, 2025, the plant has produced 4,049 MW of solar modules and 1,441 MW of solar cells.
With a strategic focus on scaling up production, the company is targeting 3.7 GW of solar cell output and 3.725 GW of module production in FY 2026.
The integrated facility is strategically built to comply with domestic content requirement (DCR) norms by manufacturing PV modules with in-house produced cells. It is equipped to produce mono passivated emitter and rear cell (PERC) and tunnel oxide passivated contact (TOPCon) modules using automated, AI-driven systems.
The facility is already supplying panels to meet Tata Power’s order book requirements – including utility-scale solar farms, hybrid energy parks, and distributed rooftop systems – while also serving third-party installations across the country.
The plant is expected to operationalize its rated capacity of 4.3 GW in fiscal 2026.
More than 80% of the plant’s shop floor workforce comprises women. The plant itself has been built using green building principles, energy-efficient processes, and resource-conscious design, minimizing its environmental footprint.
TPREL also operates a 682 MW solar module and a 530 MW PV cell plant at Bengaluru, which runs at full capacity to support the DCR cells and modules production.
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PV Magazine
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10 June 20255 min readTata Power Hits 4 Gw Of Solar Module Production Capacity
PV Magazine
10 June 2025
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