Page 2 - India's Renewable Energy

Ireda to raise Rs 1,247 crore via first-ever issue of perpetual bonds

State-owned Indian Renewable Energy Development Agency Ltd (IREDA) has said that it has launched its first-ever issue of perpetual bonds to raise Rs 1,247 crore. The issuance of perpetual bonds is a strategic move aimed at enhancing IREDA's Tier-I capital, ensuring a stronger financial foundation to support the rapid expansion of India's green energy infrastructure, said a company statement issued late evening on Wednesday. The perpetual bonds were issued at an annual coupon rate of 8.40 per cent. This landmark initiative marks a major step in optimizing the company's capital structure, while capitalizing on the current supportive market conditions. "Strengthening our capital base through perpetual bonds will enable us to scale up financing for renewable energy projects, accelerating India's transition to a cleaner and more sustainable future," Pradip Kumar Das, Chairman and Managing Director, IREDA, said. Meanwhile, IREDA has received a refund of Rs 24.48 crore on March 19, 2025,

India may miss key climate goal of 500-GW RE capacity by 2030: Report

India may fail to achieve its target of deploying 500 gigawatts (GW) of renewable energy capacity by 2030 if the annual funding does not increase by 20 per cent from the current levels, a new report warns. The report prepared by global energy think tank Ember said project-commissioning delays and uncertainties related to new age "Firm and Dispatchable Renewable Energy" (FDRE) projects could raise the cost of capital by up to 400 basis points. Delays in project commissioning have been caused by land-acquisition issues, grid connectivity delays and delays in signing power purchase agreements (PPAs), it said. According to the report, a 400 basis points increase in financing costs could result in India falling short of its 500-GW renewable energy target by up to 100 GW. A higher cost of capital would also increase electricity costs for consumers, it said. Investments in renewable power generation and transmission in the financial year 2024 were estimated at USD 13.3 billion, a 40-per

Renewables' share in India's energy mix to be stable at 21% in FY25: Ind-Ra

The share of renewables including large hydro in the country's overall energy mix is expected to remain stable at nearly 21 per cent in FY25, India Ratings and Research (Ind-Ra) said on Tuesday. The balance will be largely contributed by thermal capacity, the agency said in a report. "The share of renewables (including large hydro) in the overall energy mix is expected to remain stable at nearly 21 per cent in FY25, with the balance largely contributed by thermal," it said. As per official data, as of December 2024, India's overall power generation capacity was at 462 GW, of which 209.444 GW was renewables including hydro. The agency further said that it expects all-India energy requirement to grow 5-5.5 per cent year-on-year (yoy) during FY25, with incremental capacity additions of 30-35GW, largely led by renewables. Ind-Ra said it has also maintained a stable rating outlook for solar and wind projects for FY26, based on the historical generation profile (factoring volatility), .

India has clean energy capacity over 200 GW; investments to double in 2025

As barren arid land gets covered with solar panels and giant windmills dot the coastline, India made it to the high table of clean energy superpowers with installed capacity crossing 200 gigawatts and projections of investment doubling to over USD 32 billion in 2025. According to the International Energy Agency, India's annual renewable capacity additions through 2030 are expected to increase more quickly than any other major economy, including China. It seeks India's capacity addition more than quadrupling from 15 GW in 2023 to 62 GW in 2030. By the end of 2024, its installed capacity touched 205 GW. Alongside, domestic solar PV and wind turbine manufacturing is being scaled up as part of the broader commitment to decarbonise and shift away from fossil fuels. India, which has set 2070 as the target for Net Zero, is aiming 500 GW of renewable energy capacity by 2030. To achieve this it is looking to add 50 GW of renewable energy (RE) capacity annually. Talking to PTI, Union New & .

JSW Group, Korea's POSCO announce deal to set up steel plant in India

Joint venture will collaborate in renewable energy, battery materials for electric vehicles

Indian Railways pacing towards net zero emissions, says Railway Board

Indian Railways is rapidly progressing towards its goal of achieving net zero carbon emissions by 2030, the Railway Board said on Tuesday. According to the Board, it is making efforts to grant net zero status to Railway premises across the country with a focus on meeting Railways' energy needs entirely through renewable energy sources. "The Northeast Frontier Railway zone of Indian Railways has achieved a significant milestone by converting its buildings to net zero carbon emission structures. "The Bureau of Energy Efficiency (BEE), under the Ministry of Power, has honoured six different buildings of the zone with the 'Shunya Label' recognition as Net Zero Energy Buildings," the Board said in a statement. It added, "Over the past decade, from 2014 to 2024, there has been a significant increase in renewable energy production capacity." As of June 30, 2024, Indian Railways' solar energy production capacity has exceeded 238 MW, and wind energy production capacity has surpassed 103 MW

AI, agro-processing, gig economy with most job potential: Economic Survey

Economic Survey 2023-24: The gig workforce is expected to expand to 23.5 million by 2029-30, forming 6.7% of the non-agricultural workforce, and 4.1% of India's total workforce

India adds record 18 GW renewable energy capacity in FY24, shows data

India has added a record renewable energy capacity of 18.48 GW in 2023-24, which is over 21 per cent higher than 15.27 GW a year ago, according to the latest data of the Ministry of New & Renewable Energy. However, industry experts said there is a need to add at least 50 GW of renewable energy capacity annually for the next six years to meet the ambitious target of 500 GW of renewables by 2030. According to the data, India's installed renewable energy capacity is 143.64 GW as of March 31, 2024, excluding 47 GW of large hydropower capacity (each plant is more than 25 GW or above). They pointed out that renewable energy capacity stood at around 190 GW, including large hydro projects, and therefore, India needs to add 310 GW in the next six years or at an average of 50 GW per annum. Union Power and Renewable Energy Minister RK Singh, in a recent interview with PTI, said, "You see, my installed capacity of RE is about 190 GW, I have 103 GW under construction, that makes it 290 GW. I ..

Ireda partners with banks to boost renewable energy projects in India

Agreements with Union Bank of India and Bank of Baroda set to empower renewable energy projects

India to reduce coal-based power; targets over 64% renewables by 2030

It is not true that India is not reducing coal-based power generation capacity in the energy mix, a senor government official said, adding that the country is targeting over 64 per cent of non-fossil fuel-based capacity by 2030. India has set the target of having 500GW of renewable energy by 2030. Coal-based power generation, however, ensures stable operation of the electricity transmission grid. "It is not true that we are not reducing coal. We are in the business of energy transition. But keeping in mind energy security and supply to each and every consumer, we have to provide electricity to all types of consumers including commercial, domestic and industrial," Chairman, Central Electricity Authority, Ghanshyam Prasad said at the BCC&I Environment and Energy Conclave here. India's power infrastructure is mostly dominated by coal (based generation) as it constitutes more than 50 per cent in terms of capacity. In terms of output, the share of fossil fuel-based energy is 70 to 74 ..

India's green goal offers companies $500 bn opportunity, says ReNew CEO

ReNew has plans to invest in the entire decarbonization chain. The company, with about 8 gigawatts of operational capacity, is among India's top renewables producers

To boost production, govt may provide Rs 50/kg support for green hydrogen

The government plans to provide Rs 50 per kg of hydrogen in the first year and the support will be brought down to Rs 30 per kg of production in the third year

Corporates hopeful for green hydrogen; may pump Rs 16 trillion in 10 years

Industry experts have said that it will take a combination of technological advancements and regulatory support to boost the cost-effectiveness and viability of green hydrogen in the country

TotalEnergies has not signed contract on new Adani hydrogen venture

TotalEnergies has not yet signed a contract announced last year to extend its partnership with India's Adani to the production of green hydrogen, the chief executive of the French oil major said

RE firms may use rupee loans to refinance $3 bn overseas green bonds

Costly overseas funds forcing them to tap domestic sources

Trends show coal is here to stay despite India's renewable energy goals

Coal is dirty -- it makes up for 40 per cent of carbon dioxide emissions from fossil fuels, its mining wreaks havoc on the environment and burning it produces pollutants like mercury which are linked to acid rain and particulate matter that causes respiratory illnesses. But the war in Ukraine has caused a mini-energy crisis globally, pushing its use to record levels this year. And India, the world's third largest energy consumer, was at the forefront of the global rise in coal usage as it fell back on the easiest available fossil fuel in the face of a surge in oil and gas prices that threatened to derail the economic recovery from the pandemic. The trends of coal consumption and production this year indicate that the dirty fuel is here to stay despite the nation's ambitious target of meeting 50 per cent of energy requirements from renewable energy and non-fossil fuel capacity of 500 GW by 2030. India's coal consumption has doubled since 2007 at an annual growth rate of 6 per cent an

Greenko plans to raise up to $4.5 billion for renewable energy projects

Sources said Greenko Group had 7.5 gigawatt (Gw) of installed capacity across solar, wind and hydropower generation assets in 15 states in India

Government weighs cancelling reverse auction for renewable power offers

According to data from the ministry of power, India has installed wind and solar capacities of 41.205 GW and 59.303 GW, respectively

Uttar Pradesh to develop solar energy rooftop projects on govt buildings

The Uttar Pradesh government has decided to develop solar rooftop projects on government and semi-government buildings and offices in the state as part of its new renewable energy initiative

Adani group gets provisional approvals for renewable energy projects in SL

Adani Green Energy was issued provisional approvals for two wind power projects in northern province for an investment of over $ 500 million, Sri Lanka's Energy Minister Kanchana Wijesekara announced