Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTGreenam Energy breaks ground on 24-MW floating PV park in India
The new floating solar array in South East London. Courtesy: WolfeWare Limited.
April 16 (Renewables Now) - Greenam Energy Pvt Ltd, a unit of Singapore-based AM International Holdings, has officially launched construction of a 24-MW floating solar park in Tamil Nadu, India.
The start-up of the project was marked by a foundation laying ceremony, Greenam Energy said on Monday. The photovoltaic (PV) plant, itself, will be installed in a water reservoir within the Tuticorin factory complex of Indian fertilizers and chemicals manufacturer Southern Petrochemical Industries Corp Ltd (BOM:590030), or SPIC. The latter will use the generated electricity for its operations, while the excess power will be sold to state power utilities.
EDAC Engineering Ltd, part of the SPIC group of companies, will be in charge of building the plant. Greenam Energy will be the owner of the facility.
Apart from promoting the use of renewables, the PV system will help SPIC achieve “significant energy costs savings” and lower its reliance on external power suppliers. According to Greenam Energy, the project is one of India’s first floating renewable energy initiatives aiming to enhance the energy production of industrial sites.
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