Latest news with #TNGECL
The Hindu
3 days ago
- Business
- The Hindu
Tamil Nadu Green Energy Corporation applies for intra-State electricity trading licence
Tamil Nadu Green Energy Corporation Limited (TNGECL), in a bid to become power procurement intermediary, has applied for a Category-G licence for intra-State trading of electricity across Tamil Nadu. TNGECL was formed with the aim to streamline the development and implementation of green energy projects, such as wind, hydro, and solar power, by creating a single-window clearance system for developers, as per a petition filed with the Tamil Nadu Electricity Regulatory Commission (TNERC). One of the key objectives of TNGECL is to increase the share of renewable energy in Tamil Nadu's energy mix to 50% by 2030, aligning with the renewable purchase obligation (RPO) trajectory. This ambitious target is part of the broader goal to reduce the State's carbon footprint and promote sustainable development, it added. With an ambition to lead the renewable energy transition from the front, TNGECL intends to enter as a power procurement intermediary, thereby diversifying its portfolio, as per the petition. It will act thereby purchase power from the renewable power developer (RPD) and sell it to the Tamil Nadu Power Distribution Corporation Limited (TNPDCL), the release added. The Tamil Nadu Electricity Regulatory Commission (Licensing) Regulations, 2005 (as amended up to December 31, 2009), outlined various categories based on trade volume for entities applying for a trading licence. TNGECL plans to apply for a Category-G licence to trade electricity exceeding 500 million units (MU) annually, as per the petition. TNGECL aims to incentivise the RPD by ensuring early payments before due dates. This initiative will set up a payment security mechanism, thereby relieving the TNPDCL from the obligation of timely payments, it said. It will engage in power trading through medium- and long-term contracts with simultaneous power purchase agreements (PPA) and power sale agreement (PSA) with the RPD and TNPDCL respectively, the petition said. TNGECL will procure power from the RPD at the discovered tariff. Its power trading business process is designed to attract private investment in the renewable energy sector by ensuring financial security, while simultaneously assisting the State to manage demand and achieve its targets. It plans to commence trading with 1,000 MUs and progressively increase the traded units year-on-year. The traded units are projected to grow at a compound annual growth rate (CAGR) of 18.92%. The TNERC said it was prima facie satisfied that TNGECL had qualified for the licence and had invited comments on the proposal. It is set to hear the proposal further on August 5 for a final disposal.
New Indian Express
16-07-2025
- Business
- New Indian Express
Green energy corporation to set up 37 model solar villages in Tamil Nadu
CHENNAI: Tamil Nadu Green Energy Corporation Limited (TNGECL) will establish 37 model solar villages in different parts of the state under the PM Surya Ghar Muft Bijli Yojana. To take this project forward, TNGECL signed an MoU with Auroville Consulting on Monday. The firm will offer technical support such as installing solar panels, setting up substations, preparing detailed project reports, and helping in the selection of contractors. A senior TNGECL official told the TNIE, 'We have completed feasibility studies in 33 villages. The remaining four are under process. After the task is completed, proper announcements regarding the 37 villages will be made. After holding detailed discussions and finalising the plans, we will float tenders, likely by the end of this month.' Villages with a population of more than 5,000 were chosen through district-level committees headed by the collectors. These will be developed as model solar villages, another official added.
New Indian Express
09-07-2025
- Automotive
- New Indian Express
TN signs pact with ITDP to boost EV infrastructure
CHENNAI: In a major push towards clean eco-friendly transportation, the Tamil Nadu Green Energy Corporation Limited (TNGECL) signed a memorandum of understanding (MoU) with the Institute for Transportation and Development Policy (ITDP) on Tuesday. The MoU, signed in the presence of Tamil Nadu Electricity Board (TNEB) CMD J Radhakrishnan, aims to promote the use of electric vehicles (EVs) and strengthen EV charging infrastructure across the state. As per the agreement, ITDP India will act as a knowledge partner and offer technical support to TNGECL in several important areas, including creating a mobile application for public EV charging, setting up a single-window portal for EV-related policies and market information, planning for land use and feasibility, and preparing city-level EV strategies that can be expanded in future. According to a release, the partnership highlights the state's strong focus on promoting green energy, climate protection, and better urban transport systems.
Business Standard
24-06-2025
- Business
- Business Standard
Bondada Engg spurts on securing Rs 836 crore battery storage order from TNGECL
Bondada Engineering hit an upper limit of 5% at Rs 466.30 after the company secured a Letter of Award from Tamil Nadu Green Energy Corporation (TNGECL) for a 400 MWh Battery Energy Storage Systems (BESS) project in Vellalaviduthi and Thennampatty. Valued at Rs 836 crore, the project is the largest BESS order in Bondada's history and will be executed under the Build-Own-Operate (BOO) model. The facilities will provide two full cycles of charging and discharging per day, aimed at improving grid stability, managing peak power demand, and facilitating renewable energy integration in the state. The company expects the project to be completed within 18 months from the execution of the energy storage purchase agreement. Revenues from the order will be recognized over a 12-year period. Bondada emerged as the winning bidder through a tariff-based competitive bidding process conducted by TNGECL, supported by the Viability Gap Funding (VGF) mechanism under the state component. The project aligns with the National Framework for Energy Storage Systems (NFESS), 2023, and Tamil Nadu's goal to achieve 50% renewable energy by 2030. The company said this strategic win is a key step toward its goal of achieving 10 GW of capacity in the green energy space by 2030. Bondada Engineering provides engineering, procurement, and construction (EPC) services and operations and maintenance (O&M) services to companies operating in the telecom, renewable energy and Indian railways. On a consolidated basis, the company's consolidated net profit surged 150.12% to Rs 111.88 crore on a 96.25% jump in revenue from operations to Rs 1,571.38 crore in FY25 over FY24.
Time of India
24-06-2025
- Business
- Time of India
Battery storage TN closer to reality, as three firms bag tender for 1000MWh systems
Chennai: Tamil Nadu moved a step closer to achieving the storage of excess green power, as three companies won the tender floated by TN Green Energy Corporation Ltd (TNGECL) to set up a 1,000 MWh battery storage system in the state. NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India Limited (NLCIL), was awarded a 500 MWh battery energy storage system . Bondada Engineering Ltd won the bid to set up a 400 MWh battery system, while Oriana Power will set up a 100 MWh battery system. These companies can store 1 lakh million units of electricity to release it in two cycles when the power demand peaks. TNGECL MD Aneesh Sekhar said that the winning bidders should connect the fully developed battery systems to the grid in 18 months. NLC India Limited (NLCIL) said that their project involves the development of three standalone battery storage systems with a combined capacity of 250 MW / 500 MWh. These systems will be established at the 400/230/110 kV substations in Ottapidaram, Anuppankulam, and Kayathar, all located in the state. The battery energy storage systems will be implemented under the Build-Own-Operate (BOO) model and were awarded through a tariff-based competitive bidding process as part of the state component of the Viability Gap Funding (VGF) scheme. Tamil Nadu has an installed capacity of nearly 19,000 MW of wind and solar energy, making battery storage a viable option. TNPDCL officials said the battery storage system will help store excess renewable energy during off-peak hours and discharge when the power demand peaks. This will reduce grid instability, prevent blackouts, and enhance the efficiency of Tamil Nadu's clean energy network, said an official. TNPDCL will procure energy storage services from NIRL through a long-term Battery Energy Storage Purchase Agreement (BESPA) for a period of 12 years. NLC India Limited earlier commissioned an 8 MWh BESS integrated with a 20 MW solar project in the Andaman Islands. That project played a key role in reducing diesel consumption and improving power reliability in the region, the firm said.
