India's Solar Energy

Confident of US demand despite Trump's concerning policy: Waaree CEO

Waaree expects most of its 5.4 GW solar cell manufacturing capacity in the western state of Gujarat to be operational by March-April this year. The company has about 13.3 GW of capacity module

Indian Railways to receive 170 MW of solar energy from Madhya Pradesh

Madhya Pradesh government plans to increase the production capacity of renewable energy to 20,000 MW by the year 2030

Govt approves 2 new payment methods for rooftop solar under PM Surya Ghar

The Ministry of New & Renewable Energy has come out with new guidelines, allowing two more payment methods for the installation of rooftop solar system under PM-Surya Ghar: Muft Bijli Yojana. The move will ensure payment security as well as the grant of subsidy to households in case of payments through Renewable Energy Service Company (RESCO) and utility-led aggregation models. The ministry has notified scheme guidelines for implementation of 'Payment Security Mechanism' component and 'Central Financial Assistance' component for RESCO models/ utility-led aggregation models under PM-Surya Ghar: Muft Bijli Yojana, an official statement said. Under this scheme, Rs 100 crore has been earmarked for payment security mechanism (PSM) for de-risking investments in RESCO-based grid-connected rooftop solar models in residential sectors, which may be supplemented through other grants, funds and sources after due approval, the statement said. Under the RESCO model, third-party entities invest .

SECI's cumulative awarded renewable energy capacity exceeds 73 GW in Dec

State-owned Solar Energy Corporation of India (SECI) on Friday said its cumulative awarded capacity for renewable energy projects exceeded 73 GW in December. SECI is the premier Renewable Energy Implementing Agency (REIA) in the country, continuously working to meet climate goals and drive sustainable development, a SECI statement said. As a leading Central Public Sector Enterprise, SECI plays a pivotal role in the development and expansion of Renewable Energy (RE) capacity in India, with a cumulative awarded generation capacity exceeding 73 GW as of December 31, 2024, according to the statement. SECI has achieved an "Excellent" rating for its performance under the Memorandum of Understanding (MoU) with the Ministry of New & Renewable Energy (MNRE) for the financial year 2023-24, earning a score of 96 out of 100, it stated. In the financial year 2023-24, the company witnessed a substantial increase of 22.13 per cent in its annual trading volume, with a total of 42.935 billion ...

Global solar investments set to reach $500 bn this year: Pralhad Joshi

Union Minister Pralhad Joshi on Monday asserted that global solar investments will touch USD 500 billion this year from the USD 393 billion level in 2023 and said it is the most affordable energy source in many regions, surpassing coal and gas. These investments are not only adding new capacity but also driving down the cost of energy from solar worldwide, Joshi, the minister of new and renewable energy, said addressing the inaugural session of 7th General Assembly of the International Solar Alliance (ISA). Joshi, who is also President of ISA, said, "This rapid growth is fuelled by record-breaking investments. Global solar investments have grown from USD 144 billion in 2018 to USD 393 billion in 2023 and are expected to reach USD 500 billion by the end of 2024." Today, he stated, solar power has become the most affordable source of electricity in many regions, surpassing coal and gas. He also informed that ISA is guided by the 'Towards 1000' strategy which aims to mobilise USD 1,00

Guidelines issued for component under 'PM-Surya Ghar: Muft Bijli Yojana'

The government on Monday issued operational guidelines for implementation of 'Model Solar Village' component under PM-Surya Ghar: Muft Bijli Yojana. Under the scheme component, emphasis has been laid on creating one model solar village per district across India, to promote solar energy adoption and enable village communities to become self-reliant in energy needs, Ministry of New and Renewable Energy (MNRE) said in a statement. A financial outlay of Rs 800 crore has been allocated for this component, providing Rs 1 crore per selected Model Solar Village, the ministry said. The scheme guidelines for implementation of Model Solar Village were notified by MNRE on August 9, 2024. The selection process involves a competitive mode where villages are assessed on their overall distributed renewable energy capacity installed on 6 months after the declaration of the potential candidate by district-level committee (DLC). As per the guidelines, in order to be considered under the competition

PMSY scheme: Districts set to compete for model solar village funds

Centre rolls out guidelines under PM Surya Ghar Yojana with grant of Rs 1 crore per village

About 151 GW green capacity under implementation in India: Pralhad Joshi

Renewable energy projects of about 151 GW capacity are under various stages of implementation in the country, Union Minister Pralhad Joshi has said. The Minister for New and Renewable Energy further said that around 76.42 GW of renewable energy capacity will be operationalized in next 3-4 years. "The government is taking several initiatives to prioritise renewable energy. Nearly 151 GW of renewable projects are being implemented, and 76.42 GW will be operationalized in 3-4 years," he said addressing a session at 'Mercom India Renewables Summit 2024' in the national capital on Friday. The tendering process for 76.42 GW capacity of projects has already been completed, the minister said. The renewable energy capacity has increased over 2.5 times from 76 GW in 2014 to more than 195 GW as of June 2024, Joshi said. The solar power capacity witnessed a steep jump from just 3 GW in 2014 to more than 85 GW now while wind power capacity increased from 21 GW to more than 46 GW, the minister

Trade and industry bodies in Rajasthan call for creating solar energy hub

Rajasthan ranks as one of the leading states in the country for solar energy production

Scorching heat fuels India's gas-fired power use to multi-year highs in May

More than 75 per cent of India's power generation was from coal in 2023, while gas-fired plants have accounted for only about 2 per cent in recent years, largely because of the high cost of gas

Aether Industries to commission 15 MW solar power plant in Bharuch, Gujarat

Aether Industries will commission a 15 MW solar power project (Auto-Tracker Modules) under the Captive Power Producer (CPP) segment in the Bharuch district of Gujarat with an aim to become more sustainable. Earlier, in July 2023, Aether Industries had commissioned a 16 MW solar power project (Fixed Modules) under the CPP segment and this new solar power plant under CPP will add to its renewable energy sources and further move towards sustainability, the company said in a regulatory filing on Tuesday. The solar power farm will be in Gujarat's Bharuch District and spread across 60 acres. The phase-wise commissioning of the solar power plant is set to begin as early as the next financial year starting April, it stated. However, the company did not mention the capex for the project. "As an enterprise, we are very cognizant of the elements that sustain life. This is why we are also part of UN Global Compact Network India to practice and promote sustainable manufacturing. Therefore, our

Uttarakhand govt approves 5 solar power plants to promote green energy

He said that these projects will lead to investment of about Rs 24 crore in the field of solar energy in the state and will also encourage green energy

Kerala govt launches project to make capital largest solar city in India

A three-day expo was inaugurated by the Kerala government-run ANERT where the public can learn about and buy several solar energy systems

Corporate funding in global solar sector grows 11% to $8.4 bn in Jan-Mar

Corporate funding in the global solar sector increased 11 per cent year-on-year (y-o-y) to USD 8.4 billion in January-March period of 2023, according to a Mercom Capital report. Corporate funding includes venture capital, debt and public market financing. "The investments in the solar sector bucked the trend in Q1 despite tough economic conditions. The Inflation Reduction Act in the US is a significant driver for investments in solar. The fundamentals are solid, driven by strong demand for the energy transition worldwide, especially in Europe and the United States," said Raj Prabhu, CEO of Mercom Capital Group. Total corporate funding into the solar sector in the first quarter of 2023 calender year came to USD 8.4 billion compared to USD 5.4 billion in the fourth quarter of 2022. Funding increased 11 per cent y-o-y compared to USD 7.5 billion raised in Q1 2022, the report said. During January-March 2023, global VC funding was at USD 2.1 billion in 18 deals, 75 per cent higher compa

Avaada Energy gets 421 MW solar project from Damodar Valley Corporation

Renewable energy company Avaada Energy on Friday said it has bagged a 421 MW solar project from Damodar Valley Corporation (DVC). The project was awarded through a competitive bidding followed by an e-reverse auction in which Avaada emerged as the winner with a quoted tariff of Rs 2.70/kWh. In a statement, Avaada said "it has won the 421 MW (DC) ISTS-connected Solar PV bid in an auction conducted by REC Power Development and Consultancy Ltd (RECPDCL) on behalf of DVC." As per bid terms, a power purchase agreement will be inked between the two entities for 25 years, and the project will be commissioned within 18 months. The plant is expected to generate about 750 million units green energy annually which will reduce 6,98,250 tonne CO2 equivalent emissions. The solar project can potentially power 5 lakh households. "India is one of the fastest-growing markets for renewable energy globally. With ambitious targets and commitments to a green future, we are confident that massive ...

Why India needs to build a robust framework to facilitate energy transition

The investment buzz for the transition has begun but policy frameworks still lag the process

Solar energy generation capacity touches 16,000 Mw in Rajasthan

There is a 925-Mw park and a 750-Mw park in Jaisalmer district

India unveils Rs 2.2 trillion plan to upgrade grid for clean power

The project will connect solar plants in the sun-drenched deserts of Rajasthan and Gujarat and wind farms in Tamil Nadu to the national network

Indian govt wants solar manufacturers to bid for $2.4 billion in aid

The state-run Solar Energy Corp. of India is seeking bids from solar manufacturers for 195 billion rupees of financial incentives, according to documents published on the agency's website

After KFW deal, SBI now in talks with EIB for Euro 200 mn green funding

Last week the lender tied up its second Euro 150 million funding with German govt-owned KFW as part of solar partnership with India