Rays Power Infra has signed a term sheet with Serentica Renewables for a 283 MW solar project with a focus on industrial decarbonisation. The company has a commissioned portfolio of 1.30 GW and is targeting its first BESS and floating solar projects. As a global EPC player, Rays Power Infra plans to build more power plants in Karnataka and other states.

The United States is planning to repurpose Department of Energy lands, including sites contaminated by atomic bomb production, for clean energy generation. The U.S. Department of Energy has identified 70,000 acres of land that could eventually host the largest solar project in the country. Energy Secretary Jennifer Granholm will present the Clean Power Plan, which includes developers of renewable energy and nuclear power. Potential sites include the Hanford site, Richland, Idaho Falls, the Nevada Nuclear Safety Site, the Savannah River site, and the Waste Isolation Pilot Plant.

Offshore wind projects are facing an economic crisis, with costs leading to cancellations and delays. Spain's Iberdrola SA and Danish developer Orsted A/S lost offshore wind bids in Massachusetts, Rhode Island and the UK, while Vattenfall AB canceled plans in the UK due to inflation. Rising costs and rising interest rates are putting more pressure on renewable energy projects as climate change and growing energy demand demand more power generation. While some projects are still underway, they require higher electricity prices to make the investment viable. Offshore wind power is critical to decarbonization goals as it is one of the most efficient ways to generate renewable electricity.

Octopus Energy Generation plans to invest $20 billion in offshore wind by 2030, aiming to improve energy security and reduce dependence on fossil fuels. The investment will generate 12 gigawatts of renewable electricity per year, enough to power 10 million homes. The company targets projects on a global scale, with a focus on Europe. Offshore wind is already transforming the UK's energy system and Octopus Energy is excited about its potential for global net-zero emissions, energy security and reduced electricity bills.

Karnataka Minister of Minor Irrigation N S Bose Raju is exploring the installation of floating solar panels in lakes to reduce electricity dependence. The sector has 483 lift irrigation projects that work to increase groundwater recharge, protect tanks and lakes, and prevent encroachment. Finding ways to reduce electricity dependence is being discussed. All lakes are being surveyed to remove erosion and protect water bodies. Additionally, the K C Valley and H N Valley Enhanced Irrigation Projects in Kolar and Chikkaballapur districts are taking steps to replenish groundwater.

U.S. President Joe Biden will announce the first sale of offshore wind rights in the Gulf of Mexico on Thursday. The sale will include a 102,480-acre lease near Lake Charles, Louisiana, and two nearly 200,000-acre leases near Galveston, Texas. The Biden administration has held three offshore wind lease auctions, including last year's largest auctions off the New York and New Jersey coasts and the first on California's Pacific coast. Biden will travel to Philadelphia to pitch the green economy to unionized workers who remain skeptical about the economics of the solar, wind and electric vehicle industries.

Schneider Electric and Platinum Electrical Engineering partnered to deploy the EcoStruxure Automation Expert solution for Brilliant Planet's low-cost algal carbon capture program. Brilliant Planet uses algae as an affordable and scalable method to sequester carbon on a gigaton scale. By growing microalgae in open pond systems, they can capture 30 times more carbon than forests. The EcoStruxure Automation Expert system is based on the IEC 61499 standard for easy integration with third-party equipment and seamless scalability across Brilliant Planet's global sites. This standardized application simplifies troubleshooting and adapts the process to the customer's specific needs, providing a complete, customized, scalable system.

India's Ministry of New and Renewable Energy (MNRE) is developing a multi-pronged strategy to support its renewable energy industry. The government is also looking at energy storage, offshore wind and green hydrogen. The government has introduced a production-linked incentive (PLI) scheme and battery storage VGF regulations, while also focusing on offshore wind, which has the potential to meet energy commitments. Green hydrogen will play a vital role in India's energy transition, which plays an important role in the global landscape due to supporting infrastructure development and synergies.

U.S. Treasury Secretary Yellen announced that the U.S. is working with India to develop an investment platform to reduce capital costs and increase private investment in India's energy transition. The two countries have been cooperating on economic issues, including commercial and technological cooperation and supply chain strengthening. Yellen's visit to India, her third to the country this year, underscores the growing relationship between the two countries. The two countries are also close to reaching an agreement on a global minimum tax regime.