Latest news with #C&I
Time of India
4 days ago
- Business
- Time of India
IFC-led investor group in talks to pick up 30% stake in ReNew's C&I unit
An investor group led by the International Finance Corporation (IFC) is looking to buy a 30 per cent stake in ReNew Power 's commercial and industrial (C&I) power generation unit, according to people briefed on the matter. IFC, an arm of the World Bank Group, could plough about $250 million into the unit along with a co-investor, they said. The proposed investment could peg the equity value of the unit, which supplies renewable power to customers such as Amazon and Microsoft, at $800 million, they added. Several commercial users are turning to renewable energy suppliers to lower their fuel bills and meet decarbonisation goals. The proposed investment aligns with IFC's priorities of backing businesses with positive social or environmental impact. However, the deal could face delays as ReNew's management prioritises delisting the company's parent ReNew Energy Global Plc from Nasdaq, according to multiple sources. Till then all other strategic transactions are on hold, they said. ReNew founder Sumant Sinha along with Masdar, Canada Pension Plan Investment Board and Platinum Hawk have announced an offer to take the US-listed parent private. Company has mobilised $680 million over 3 years IFC and ReNew Power did not respond to ET's queries on the matter. Gurugram-based ReNew's C&I unit has set up 2 gigawatts (GW) of electricity generation capacity for commercial users. The contracts are structured in a way that typically requires the user to make an investment in a captive power unit that generates electricity exclusively for the entity. As of March 31, the company's overall portfolio consisted of 17.3 GW of wind and solar power projects. This compares with 13.5 GW as of March 31, 2024. The C&I portfolio is a sub-component of its total power generation capacity . The company has mobilised capital worth $680 million through the sale of assets, divestment of minority stakes and forming joint ventures over the last 36 months. Some of its recent deals include the sale of a 51 per cent stake in Karnataka-based Koppal Narendra Transmission Ltd together with a 300 MW solar project in Rajasthan to KKR-sponsored IndiGrid for ₹2,100 crore. It also sold a portfolio of rooftop solar projects of 138 MW capacity to TPG Capital-backed Fourth Partner Energy for ₹672 crore. "Going forward, the group is expected to mobilise capital through complete asset sale and selling minority stake to strategic partners in various assets and some of the other key projects like module manufacturing, C&I sub-holdco among others," said a recent CARE Ratings report. ReNew posted a total income of ₹10,907 crore ($ 1.27 billion) in FY25. The company website says it's among the top seven renewable power producers globally. It posted a net profit of ₹459 crore in FY25.
Mint
02-07-2025
- Business
- Mint
Maha power regulator puts controversial order on hold after solar cos move court
Mumbai: The Maharashtra Electricity Regulatory Commission (MERC) has assured the Bombay High Court that it will not implement till 14 July its order that green power producers complain makes it difficult to supply excess electricity to the grid for later retrieval. The move comes after a consortium of renewable energy developers challenged the decision, saying it would cripple their ability to provide round-the-clock low-cost power, rendering them uncompetitive. The court was hearing a plea filed by the National Solar Energy Federation of India (NSEFI), JSW Neo Energy Ltd, and nine other solar developers including Sunsure Solar Park MH One Pvt. Ltd and Solenco Solar Park MH-V Pvt. Ltd. The developers have called MERC's decision arbitrary, unlawful, and detrimental to the commercial viability of clean energy projects in the state. MERC, along with the Maharashtra State Electricity Distribution Company Ltd (MSEDCL), submitted that it would not enforce the contested provisions until mid-July. 'The aforesaid statement is accepted as an undertaking given to this court. In light of the aforesaid statement, we find that at this stage, the petitioners are adequately protected and hence, no further ad-interim relief is passed in the above petitions,' the court said on 1 July. In addition to MERC's 25 June order, the developers have challenged Regulation 115 of the Multi-Year Tariff (MYT) Regulations, 2024, which empowers distribution companies to propose new Time-of-Day (ToD) slots and tariffs. The core issue before the court stems from MERC's reversal of its March 2024 decision that allowed consumers to draw banked solar power across different ToD slots—enabling both operational flexibility and financial efficiency. Under the revised rules, solar energy banked during, say, 9 am to 5 pm, must be consumed strictly within that window, significantly diminishing the value of banking. This makes the supply of renewable power to commercial and industrial (C&I) customers more expensive for solar companies. This is because solar power is generated in excess during the morning and afternoon hours when the sun shines the brightest. The excess power during this period is supplied to the grid and drawn by MSEDCL. Later, when the C&I customer needs power when the sun sets, it tends to draw it back from the grid at a nominal fee, usually about 8-10% of the power banked. Solar producers fear that a change to the banking structure would jeopardize their long-term power supply agreements with C&I consumers as the cost increases. MSEDCL proposed to change the banking structure as it was getting more expensive for it to supply the power back during non-solar hours from other sources. India suffers from insufficient capacity to store its solar power. In the court, developers argued that MERC enacted the change without public consultation, a legal requirement in tariff matters, thereby breaching principles of natural justice. 'The review petition (filed before MERC) was neither made available to the stakeholders nor were the stakeholders permitted to address any arguments,' the petition reads, calling the process a 'complete go-by to the established principles of law.' They also contend that their intervention applications, which sought a hearing in the review proceedings, were dismissed without explanation. The petition states that nearly 600 MW of solar capacity in Maharashtra is affected by the order. The developers are seeking to quash both the 25 June directive and Regulation 115, arguing that the latter unlawfully delegates tariff-setting authority to distribution companies. Legal experts say the case raises broader questions around regulatory accountability and administrative fairness. 'The failure of MERC to provide due process, such as adequate hearing or consultation, before issuing a significantly impactful review order constitutes a direct infringement of the petitioners' fundamental legal right to fair administrative action,' said Kunal Sharma, founder and managing partner at Taraksh Lawyers & Consultants. He noted that while the petition does not directly challenge Regulation 115, the court could still strike down the order on procedural or jurisdictional grounds. 'The petition derives substantial force from the argument that the revised banking provisions are inconsistent with the existing DOA Regulations and that MERC acted beyond the scope of its limited review jurisdiction,' Sharma said. Sachit Mathur, managing partner at Emerald Law, offered a different view, suggesting the review order could hold if MERC's rationale is sound. 'With respect to the ToD tariff and banking provisions, the Commission's reliance on review jurisdiction may withstand scrutiny. In particular, the omission of Regulation 20.3 could plausibly qualify as an error apparent on the face of the record,' Mathur said. MERC maintains that the review order is a clarification, aligning the tariff framework with earlier regulatory processes. It insists that stakeholder input had been taken during the original MYT proceedings and that repeat consultation during the review is not mandatory. It also warned that granting relief solely on procedural grounds could set a sweeping precedent.
National Post
02-07-2025
- Business
- National Post
Kraken Expands to Serve Commercial & Industrial Customers – Bringing Its Utility Revolution Beyond the Home
Article content Article content LONDON — Kraken is expanding its revolutionary operating system to serve commercial and industrial (C&I) customers, alongside small and medium businesses and residential accounts. Article content Global utilities can now manage complex business accounts using Kraken's AI-powered operating system – configuring tailored energy products, managing Power Purchase Agreements (PPAs) and delivering a 360-degree view across a customer life-cycle in just a few clicks. Article content Good Energy has successfully completed migration and now serves its C&I customers alongside households on the Kraken operating system. The UK-based company can now seamlessly build new customer tariffs in minutes, replacing manual tasks that took weeks. The migration has resulted in a 32% drop in inbound business-customer calls and up to 50% less time spent fixing billing issues. Article content Managing B2B accounts is more complex than residential – typically requiring bespoke terms, combined with the higher risk involved with managing larger volume. Utilities often rely on outdated systems and manual processes to manage them. Kraken's configurable, cloud-based solution is built to easily handle this complexity – at scale, across tens of thousands of sites. Article content By unifying customer operations on a single, intelligent platform, Kraken processes over 15 billion data points a day. This unlocks deeper insight into customer behaviors and energy usage – allowing utilities to quickly and seamlessly develop innovative energy products, tailored to customer needs. Staff are equipped with the tools to deliver best-in-class customer experience. Article content Kraken is already contracted to serve over 70 million residential customer accounts around the world, through partnerships with global utilities such as EDF Energy, Octopus Energy, Origin in Australia, Tokyo Gas and many more. Article content Fran Woodward, COO of Good Energy Article content , says: 'As we evolve our offering for business customers, we wanted to offer the same flexibility, scalability and service as we do our domestic customers with the support of Kraken. Migration was incredibly smooth, and it's now easier and more straightforward to serve customers, and our staff feel engaged and more confident using the system. We have a lot of confidence in our ability to adapt with Kraken for the future.' Article content Amir Orad, CEO of Kraken, Article content says: 'This is a huge milestone for Kraken, as we take the next step in transforming global utilities. Good Energy was our first partner back in 2020, so we're delighted to see them leading the way again. With C&I accounting for up to 40% of global energy use, this leap supercharges our progress towards our goal of positively impacting the lives of one billion people.' Article content About Good Energy Article content Good Energy has been at the forefront of the renewable energy revolution since 1999, helping homes and businesses to generate, use and share renewable electricity. Article content From supplying customers with 100% renewable electricity from over 2,500 British generators, to serving over 180,000 people who generate their own clean power, Good Energy has built a reputation for supporting independent renewable generation. Article content Today, Good Energy also installs clean technology such as heat pumps, batteries, EV chargers and solar panels, including a nationwide commercial solar installation service. It also offers flexible tariffs for EV drivers and heat pump owners, as well as competitive export rates ensuring solar generators get paid fairly for the power they share. Article content Good Energy is a Which? Eco Provider for Energy, is rated 5 stars by customers on TrustPilot, and is Britain's only B Corp certified home energy supplier. Article content Good Energy is part of the Esyasoft Group. Esyasoft is a Dubai-headquartered global business specialising in manufacturing state of-the-art internet of things devices and providing a suite of software solutions designed to enhance energy distribution and management. It is ultimately owned by International Holding Company PJSC (ADX:IHC), an Abu Dhabi-based publicly listed holding company. Article content Article content About Kraken Article content Kraken is the world's only proven, end-to-end operating system for utilities' digitalization and transformation, trusted by global energy giants like EDF Energy, Next, Octopus Energy, Origin and Tokyo Gas. Article content Headquartered in London and New York, Kraken manages over 70 million accounts, over 45 GW of power – from off-shore wind to grid-scale batteries – and over 300,000 consumer devices such as electric cars and charging stations. Article content The platform's advanced data and AI capabilities automate much of the energy supply chain to allow outstanding service and efficiency. These advances have redefined the utilities sector, driving a 30-fold increase in new product innovations for partners, top consumer rankings and hundreds of millions of dollars in operational savings. Article content Kraken's cloud-based architecture is uniquely adaptable and scalable, proven by an unparalleled track record in seamless, on-time migrations and enabling its successful expansion into water and other verticals. Article content Article content Article content Article content Contacts Article content Kraken Press: Article content Article content Article content
Yahoo
22-06-2025
- Business
- Yahoo
Tigo Energy and BayWa r.e. Empower High-Wattage C&I Solar in Thailand
At annual ASEAN Sustainable Energy Week 2025, Tigo and BayWa r.e. collaborate on optimization, monitoring, and rapid shutdown solutions for C&I solar in Thailand. CAMPBELL, Calif., June 22, 2025--(BUSINESS WIRE)--Tigo Energy, Inc. (NASDAQ: TYGO) ("Tigo" or "Company"), a leading provider of intelligent solar and energy software solutions, today announced that the Company will share a trade show booth with BayWa r.e. at the annual ASEAN Sustainable Energy Week 2025, from July 2-4, at the QSNCC in Bangkok, Thailand. At the show, Tigo will focus on supporting Commercial and Industrial (C&I) solar installers and engineering, procurement, and construction specialists (EPCs) as enforcement of new rapid shutdown requirements begins, deploying high-wattage modules in high-irradiance regions, and ensuring Total Quality Solar (TQS) through Tigo service programs. For solar projects in hot, humid, and high-irradiance (>1000W/m2) regions like Southeast Asia, the Tigo TS4-X family of MLPE devices provides the latest in optimization, monitoring, and safety for solar installers deploying high-wattage modules, including supporting the increased backside gains of modern bifacial modules. The TS4-X product line gives installers more freedom to deploy the modules that deliver the power and performance for their customer deployments, reduce labor costs with a no-bolt design and no need for additional ground wiring, and contribute to improving Levelized Cost Of Energy (LCOE) in the large-scale solar sector. Tigo MLPE devices pair with an industry-leading list of third-party solar inverters to deliver design and installation flexibility for solar installers and EPCs. "Thailand's rooftop solar market is growing rapidly and so is the demand for safer, smarter systems," said Junrhey Castro, managing director at BayWa r.e. Solar Systems. "As a regional distributor, we're committed to supporting this growth with reliable solutions that protect both the performance and investment of our customers. Having Tigo in our product portfolio reflects our focus on quality and innovation for solar professionals across Thailand and Southeast Asia." In Thailand, Tigo will also invite installers to enroll directly in the Tigo Green Glove service program at the BayWa r.e. booth. The Green Glove service program is a premium support experience for installers of commercial and industrial (C&I) systems that enhances the installer experience and drives quality across the solar value chain with a process that includes a set of formalized support engagements for Tigo C&I installers before, during, and after the installation. "Strong collaboration between global companies like BayWa r.e. and Tigo is part of what makes the solar ecosystem work for more installers and EPCs around the world," said Jing Tian, chief growth and revenue officer at Tigo Energy. "As with many of the pro-solar nations in Asia, we believe that products like the TS4-X and programs like Green Glove make great strides in further driving LCOE down, and Total Quality Solar up, respectively. In regions with higher-than-normal irradiance values in particular, these dynamics benefit the entire industry, from equipment manufacturer to installer, and on to the operators and asset owners." ASEAN Sustainable Energy Week 2025 attendees are invited to visit BayWa r.e. and Tigo at booth F11 from July 2-4, at the QSNCC in Bangkok, Thailand. To book an appointment with a Tigo specialist at the show, please register your interest here. About Tigo Energy Founded in 2007, Tigo Energy, Inc. (NASDAQ: TYGO) is a worldwide leader in the development and provider of smart hardware and software solutions that enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems. Tigo combines its Flex MLPE (Module Level Power Electronics) and solar optimizer technology with intelligent, cloud-based software capabilities for advanced energy monitoring and control. Tigo MLPE products maximize performance, enable real-time energy monitoring, and provide code-required rapid shutdown at the module level. The company also develops and provides products such as inverters and battery storage systems for the residential solar-plus-storage market. For more information, please visit View source version on Contacts Technica Communications for Tigo EnergyLuis de LeonEmail: tigoenergy@
Yahoo
03-06-2025
- Business
- Yahoo
Sigenergy's 20 MWh Modular C&I Solution Defines the Next Generation of Energy Storage
BURGAS, Bulgaria, June 3, 2025 /PRNewswire/ -- Sigenergy brought together nearly 300 global energy professionals in Burgas to explore the future of commercial and industrial (C&I) energy storage. A key highlight of the event was a visit to a landmark 20 MWh project in Malko Tarnovo, powered by Sigenergy's modular C&I battery energy storage system (BESS). The project highlights the scalability and real-world impact of next-generation storage technology. In partnership with Trakia MT Ltd., a leading Bulgarian solar company, the system is installed on a solar farm and features 90 Sigenergy C&I hybrid inverters combined with the SigenStack modular storage solution. Tony Xu, Founder and CEO of Sigenergy, commented: "Sigenergy's mission is to accelerate the global transition to clean energy with innovative and scalable storage solutions. This project exemplifies how advanced battery systems can drive business growth and decarbonization across industries." Modularity Transforming C&I Energy Storage SigenStack introduces a truly modular approach to C&I energy storage—replacing bulky containerized systems with stackable 12 kWh battery packs. With plug-and-play connectors and tool-free installation, the system eliminates complex wiring, the need for cranes, and heavy machinery. Thanks to this design, the entire 20 MWh system was installed in just 10 days and fully commissioned within 2 days. Galina Peycheva-Miteva, Owner of Trakia MT Ltd., noted: "The installation was incredibly smooth—more like assembling building blocks than deploying industrial infrastructure. This modular design is a game-changer for the C&I energy storage sector." Safety Engineered at the Pack Level Sigenergy's C&I BESS solutions set new benchmarks for system safety. At the heart of this innovation is the SigenStack system, engineered with safety at every level. Each 12 kWh battery pack features six layers of protection: temperature sensors, internal fire suppression units, aerogel insulation, decompression valves, high-temperature-resistant insulation pads, and smoke detectors. This configuration enables early detection of thermal runaway at the pack level and initiates a rapid, localized response within seconds. In contrast, conventional cabinet-style systems typically lack compartmentalization and may take over a minute to react, increasing the risk of fire propagation. By isolating incidents at the module level, SigenStack significantly enhances system reliability and operational safety. Its advanced inverter platform includes ultra-fast 500 ms anti-backflow protection and long-range arc fault circuit interrupter (AFCI) technology capable of detecting faults up to 500 meters. To further validate its safety performance, Sigenergy partnered with global assurance provider Intertek to publish a C&I Safety White Paper. The results confirm full compliance with UL 9540A and IEC 62619, structural stability under extreme testing, and sustained operational efficiency above 95%. Resilience Made for Zero Maintenance Built on robust safety and modular design, Sigenergy's C&I BESS supports 24/7 autonomous operation. With an IP66 rating for dust and water resistance, it delivers reliable performance across diverse environmental conditions. Conventional cabinet-style systems, however, often contain more vulnerable components and demand monthly inspections, half-year part replacements, and comprehensive annual maintenance. Real-time monitoring via a cloud-based platform provides full visibility into system status, energy throughput, and alarms, significantly reducing the need for on-site inspections. Maintenance is also streamlined: faulty battery packs can be replaced individually within two hours, without full system diagnostics or on-site technician intervention. This reduces downtime, simplifies spare parts logistics, and minimizes operational costs. The successful delivery of this project demonstrates Sigenergy's excellence in installation speed, safety, operational reliability, and smart management. Looking ahead, Sigenergy is committed to expanding its global footprint, driving the adoption of safer, more efficient, and sustainable energy solutions worldwide. View original content to download multimedia: SOURCE Sigenergy Technology Co., Ltd. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
