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Multilateral development bank ADB has approved a USD 650 million (about Rs 5,780 crore) policy-based loan to help the Government of India accelerate rooftop solar adoption and expand access to clean, affordable energy for 10 million households by 2027. The financing under Subprogram 1 of the Accelerating Affordable and Inclusive Rooftop Solar Systems Development Program will support the government's flagship initiative Pradhan Mantri Surya Ghar: Muft Bijli Yojana (PMSGMBY) which aims to make rooftop solar systems widely accessible nationwide, ADB said in a statement on Tuesday. The programme is accelerating India's clean energy transition by removing long-standing barriers to rooftop solar adoption, including financing constraints and regulatory gaps, ADB Country Director for India Mio Oka said. It is making rooftop solar affordable and accessible for millions of households while creating green jobs, empowering women, and strengthening the financial health of the power sector, she
The use of 7.3 million tonnes of paddy straw currently burnt by farmers in the biogas plants can produce renewable gas worth about Rs 270 crore per year, said the Indian Biogas Association (IBA) on Sunday. The latest anaerobic digestion processes can efficiently convert this agricultural residue into Compressed Bio-Gas (CBG), which can directly replace imported natural gas, an IBA statement said. Beyond energy, paddy straw is excellent for bioethanol production because of its 40 per cent cellulose content, it added. It has the potential to achieve import substitutions worth Rs 1,600 crore, the IBA claimed. Even the remaining 20 per cent lignin fraction can yield high-value products, such as polymers, activated carbon, Graphene and resins, it added. According to the statement, diverting only the 7.3 million tonnes of paddy straw currently burnt to biogas plants can produce renewable gas worth about Rs 270 crore per year. "This policy is likely to attract investments of Rs 37,500 c
Union minister Nitin Gadkari on Friday said India is transitioning from a fuel-importing to a fuel-exporting nation, driven by the growing production and use of ethanol, methanol and green hydrogen. Gadkari, addressing the 84th annual session of the Indian Roads Congress (IRC), emphasised the government's commitment to road safety, focusing on advanced engineering standards, intelligent transport systems, and awareness initiatives. India is transitioning from a fuel-importing to a fuel-exporting nation, driven by the growing production and use of ethanol, methanol, bio-LNG, CNG, and green hydrogen, he said. India is the fastest-growing economy in the world. The dream of our Prime Minister is to make India the third-largest economy. Our mission is to make the country a Vishwaguru'. For that, we need world-class infrastructure in the water, power, transport, and communication segments, the Union Road Transport and Highways Minister said. Gadkari said the government's aim is to build
Gujarat-based Goldi Solar, which looks to increase domestic solar module capacity, has raised over Rs 1,400 crore in funding from a clutch of investors, including Havells India and Zerodha co-founder Nikhil Kamat. "The amount raised from our investors will be utilised to support our future capacity expansion plans in the country," Goldi Solar founder and Managing Director Ishver Dholakiya said in a telephonic conversation. The funding has been closed over a period of six months after an evaluation, he said. In a statement, Goldi Solar said it has secured a landmark growth capital infusion led by Havells India, alongside a distinguished consortium of high-net-worth individuals (HNIs), institutional, strategic, and prominent investors. The company has raised a total of Rs 1,422 crore from multiple investors, which includes consumer electrical goods maker Havells India and Kamath, who is the co-founder of the brokerage Zerodha. Other prominent investors and family businesses are Ambi
With over 40 gigawatt of renewable energy projects being in advanced stages of signing power purchase pacts, India's non-fossil fuel based power generation capacity is soon to reach 300 GW, an official statement said on Wednesday. As on September 30, India's non-fossil fuel based capacity stood at 256 GW including 50 GW of large hydro and 8.78 GW nuclear power. According to the statement, more than 40 gigawatt of renewable energy projects are in advanced stages of signing power purchase agreements, power sale agreement and securing transmission connectivity. The additional projects will take the country's total non-fossil fuel based electricity generation capacity to around 300 GW, adding to the goal of having 500 gigawatt (GW) of renewable capacity by 2030, it said. An official source had earlier said that the execution of around 40 GW of already awarded renewable energy projects has been stalled in the absence of power purchase agreements (PSAs). "India's renewable growth remain