NewEnergie Renewables Receives Bankability and Technology Endorsement for Its Solar Tracking Solutions – EQ
New Mumbai, India — NewEnergie Renewables Pvt. Ltd., a leading Indian provider of innovative solar tracking solutions, is proud to announce the successful completion and receipt of a comprehensive Bankability and Technology Review Report from MITCON Consultancy & Engineering Services Ltd. The review affirms NewEnergie’s solar tracker technology as robust, reliable, and in line with global best practices for deployment in large-scale solar PV projects.
The assessment, conducted by MITCON, covered a detailed evaluation of NewEnergie’s manufacturing facilities, design quality, tracking algorithms, installation procedures, reliability standards, and energy generation performance. The report includes a favorable analysis of Levelized Cost of Energy (LCOE) outcomes, demonstrating the economic advantages of NewEnergie’s Single Axis and Tilted Module trackers over conventional fixed-tilt systems.
“This is a significant milestone for NewEnergie. The MITCON report validates the quality, performance, and bankability of our tracker solutions, giving confidence to investors, EPCs, and developers alike,”
Key Highlights of the Technology Review:
– Product Range & Innovation: Evaluation included both flat-mounted and tilted-module variants of NewEnergie’s Single Axis and Dual Axis trackers. The tilted module design was especially noted for improved energy yield and thermal efficiency.
– Design Superiority: Trackers use a pendulum-type hanging torque tube with a single-point drive system, reducing moving parts and ensuring long-term reliability.
– Corrosion Protection: NewEnergie has developed an in-house corrosion-resistant coating, Corro-Protekt, rated for highly corrosive environments (Zone C5).
– Factory Assessment: MITCON conducted site visits to NewEnergie’s manufacturing units in Navi Mumbai, confirming robust quality control systems and efficient production workflows.
– Bankability Metrics: MITCON’s LCOE analysis showed up to 29% more energy yield and up to 9% lower LCOE compared to fixed-tilt systems across different project locations in India (Maharashtra and Rajasthan).
Strategic Implications for Solar Developers
The report establishes NewEnergie trackers as highly competitive in terms of capital efficiency, operational simplicity, and terrain adaptability. Their preassembled delivery model further supports rapid deployment and lower installation costs.
Partner Acknowledgements
NewEnergie Renewables Pvt. Ltd. gratefully acknowledges the collaboration and expertise of MITCON Consultancy & Engineering Services Ltd. in conducting the technology and bankability review. Their thorough evaluation has been instrumental in validating the engineering strength and commercial viability of our solutions.
We also extend our sincere appreciation to our engineering teams, EPC partners, and early adopters for their contributions during product development, field deployments, and data sharing that enabled this important milestone.
About NewEnergie Renewables Pvt. Ltd.
Established in 1993 and headquartered in Navi Mumbai, NewEnergie is a diversified energy technology company specializing in solar tracking systems, EPC services, and electric vehicle (EV) infrastructure. With two dedicated manufacturing units and a production capacity of 2 GW, NewEnergie delivers intelligent tracking solutions that empower solar projects to achieve maximum performance and returns.
