Page 7 - Renewable Energy Policy

Renewable energy firm SAEL plans dollar bond sale targeting up to $500 mn

The offering also comes amid India's push to ramp up the renewable energy sector

India overtook Japan to become 3rd largest solar power generator in 2023

Rapid solar energy deployment in India pushed the country past Japan to become the world's third-largest solar power generator in 2023, according to a new report. The report by global energy think tank Ember said India ranked ninth in solar energy deployment in 2015. Solar produced a record 5.5 per cent of global electricity in 2023. In line with the global trend, India generated 5.8 per cent of its electricity from solar last year, as reported in Ember's "Global Electricity Review". Ember's Asia Programme director Aditya Lolla said, "Increasing clean electricity is not just for reducing carbon emissions in the power sector. It is also needed to meet the rising electricity demand in an increasingly-electrified economy and to decouple economic growth from emissions, which is crucial for tackling climate change." Solar maintained its status as the world's fastest-growing electricity source for the 19th consecutive year, adding more than twice as much new electricity worldwide as coal

IREDA surges 12% on heavy volumes post strong March quarter results

The company reported 33% YoY growth in net profit in Q4, and successfully reduced its net non-performing assets (NPAs) to 0.99 per cent from 1.66 per cent in the year ago quarter.

Inox Wind bags repeat order for 210 MW project from Hero Future Energies

Wind energy solutions provider Inox Wind on Friday said it has secured a repeat order for 210 MW for its 3 MW wind turbine generators from Hero Future Energies (HFE). Additionally, Inox Wind will also provide post-commissioning multi-year Operations & Maintenance (O&M) services, a statement said. The order is for (IWL) Inox Wind Ltd's state-of-the-art 3 MW Wind Turbine Generators (WTGs), and the scope comprises equipment supply with certain add-on services, according to the statement. The WTGs will be supplied to HFE from Q3 FY25 onwards and will be installed in South India. Kailash Tarachandani, CEO of Inox Wind, said, "We are thrilled to announce a large repeat order of 210 MW from Hero Future Energies, a longstanding partner. This order reinforces the confidence in our 3MW WTGs, being one of the most efficient turbines in its class. The addition of this order further re-emphasises our growth outlook.

Yellen in China: Beijing worried US planning more tariffs on green tech

As US Treasury Secretary Janet Yellen appeals to Chinese leaders to change their domestic manufacturing policies on the second day of an official visit, state media are receiving her message with skepticism, and anxiety about more US tariffs on green energy products. Yellen, who started her five-day visit in one of China's major industrial and export hubs, has focused thus far on what the U.S. considers to be unfair Chinese trade practices in talks with senior Chinese officials. The official Xinhua News Agency wrote Friday night that while Yellen's trip is a good sign that the world's two largest economies are maintaining communication, talking up Chinese overcapacity' in the clean energy sector also smacks of creating a pretext for rolling out more protectionist policies to shield U.S. companies. Chinese government subsidies and other policy support have encouraged solar panel and EV makers in China to invest in factories, building far more production capacity than the domestic ...

China solar industry faces challenges, but rock-bottom prices to persist

Overcapacity in China's solar industry is emblematic of the challenges facing the world's second-biggest economy

Adani Green becomes first Indian firm with 10K MW renewable energy capacity

Adani Green Energy Ltd on Wednesday said it has commissioned 2,000 MW of solar capacity at the giant Khavda solar park in Gujarat that has made it the first company in India with over 10,000 MW of renewable energy capacity. The company now has an operating portfolio of 10,934 MW, largest in India. It has brought 2,848 MW renewables capacity on stream in FY24, according to a company statement. AGEL's operational portfolio consists of 7,393 MW solar, 1,401 MW wind and 2,140 MW wind-solar hybrid capacity. The firm is aiming for 45 GW renewable energy by 2030. AGEL's 10,934 MW operational portfolio will power more than 5.8 million homes and avoid about 21 million tonnes of CO2 emissions annually, the statement said. "We are proud to be India's first das hazari in the renewables space," said Gautam Adani, Chairman of the Adani Group. "In less than a decade, Adani Green Energy has not just envisioned a greener future but has actualised it, growing from a mere idea to explore clean en

India added 21 GW solar modules, 3 GW cell manufacturing capacity in 2023

India installed 20.8 GW of solar modules and 3.2 GW of cell manufacturing capacity in 2023, according to Mercom Capital. The country's cumulative solar module manufacturing capacity reached 64.5 GW, and solar cell manufacturing capacity 5.8 GW as of December 2023, the US-based research firm said in its latest report, State of Solar PV Manufacturing. "About 60 per cent of the installed module manufacturing capacity was equipped to manufacture solar modules in M10 and G12 wafer sizes," the report said. Monocrystalline modules accounted for 67.5 per cent of the country's module production capacity, followed by polycrystalline, tunnel oxide passivated contact (TOPCon), and thin film modules, Mercom said. Module manufacturing capacity is projected to surpass 150 GW, and cell capacity is expected to reach over 75 GW by 2026, it said. "As Indian manufacturers continue to invest in expanding their solar panel production capacities, they need to carefully navigate through the complexities

Govt to resume curbs on solar modules imports to boost local producers

The curbs are part of Prime Minister Narendra Modi's effort to gain self-dependence in energy by encouraging local solar panel output

PM to present first ever National Creators Award at Bharat Mandapam today

The award will be provided across twenty categories including the Best Storyteller Award; The Disruptor of the Year; Celebrity Creator of the Year; Green Champion Award, among others

Vietnam aims to produce 100,000-500,000 MT tons of hydrogen a year by 2030

The production, distribution and usage of hydrogen will help "meet the country's national targets for climate change, green growth and to meet its net zero target by 2050," the document said

PM Modi announces 'PM Surya Ghar: Muft Bijli Yojana' to boost solar power

In a bid to boost solar power and sustainable progress, Prime Minister Narendra Modi on Tuesday announced that his government is launching the 'PM Surya Ghar: Muft Bijli Yojana' which aims to light up one crore households by providing up to 300 units of free electricity every month. Modi said the project would entail an investment of over Rs 75,000 crore. "In order to further sustainable development and people's wellbeing, we are launching the PM Surya Ghar: Muft Bijli Yojana. This project, with an investment of over Rs 75,000 crore, aims to light up 1 crore households by providing up to 300 units of free electricity every month," the prime minister said on X. From substantive subsidies, which will be given directly to people's bank accounts, to heavily concessional bank loans, the central government will ensure that there is no cost burden on the people, he said. All stakeholders will be integrated to a National Online Portal, the prime minister added. Modi said that in order to

Avaada Energy secures 1,400 MWp solar projects from state-owned agencies

Avaada Energy on Friday said it has secured over 1,400 MWp solar projects across the country from state-owned agencies. The company has secured projects with capacities of 421 MW, 280 MW, and 700 MW in tenders issued by SECI, GUVNL, and NTPC, respectively, according to a statement. These projects, slated for development in Gujarat and Rajasthan, underscore the company's commitment to expanding its renewable energy footprint in India, the statement said. "Avaada Energy, a key entity in the Avaada Group's renewable energy division, is pleased to announce its successful acquisition of approximately 1,400 MWp in solar energy projects through recent tenders by central and state government agencies in India," it said. The Power Purchase Agreements (PPAs) with these agencies will span 25 years. These projects are slated for completion within a timeframe of 24 months. Upon commissioning, these solar installations are expected to generate an estimated annual output of approximately 2,410

A 5,800% renewables stock surge has some Indian investors worried

The biggest stock winners in India's renewable sector are now all facing the challenge from minuscule earnings, which has sent valuations through the roof

Sunroof power

Suryodaya Yojana must address the challenges

Europe moves into new world after crippling energy crisis of past

Still, having scraped through the crisis, Europe has emerged into a new reality that has its own list of challenges

Green hydrogen to play key role in India's net zero journey: Gautam Adani

Billionaire Gautam Adani on Tuesday said green hydrogen holds the key to India's journey to net-zero carbon emissions, and its current high cost can be reduced by replicating the solar power model. In a blog post for the World Economic Forum (WEF), the head of apples-to-airport Adani Group said leapfrogging to renewables and green hydrogen will help India achieve energy security and improve air quality in cities. Green hydrogen produced by splitting water using renewable electricity is a clean fuel with no carbon emissions. It can be used as a feedstock in industries like steel and oil refineries and as fuel in automobiles and produces water on being burnt. "Renewable energy has come a long way but relies on the right weather conditions; green hydrogen could be a viable alternative to fossil fuels," Adani said. Green hydrogen relies on renewable energy. And so the production cost of renewable energy must fall faster than green hydrogen's to be viable. Vertical integration, where a

India Inc concerned about CBAM's impact on supply chain: PwC study

India has set an ambitious goal of generating around 50 per cent of its installed electric power capacity from non-fossil fuel-based energy resources by 2030

Tata Power Renewable Energy plans to invest Rs 70,800 cr in Tamil Nadu

Tata Power Renewable Energy Ltd (TPREL) plans to make investments worth Rs 70,800 crore for renewable energy projects in Tamil Nadu. The company, part of Tata Power, has signed two Memoranda of Understanding (MoUs) with the Tamil Nadu government to support the development of the state's renewable energy landscape and accelerate the country's clean energy transition, a regulatory filing said on Tuesday. The MoUs were signed on Monday. Under the first MoU, TPREL plans to explore opportunities to develop 10,000 MW of renewable energy power projects across solar, wind, hybrid, RTC (Round The Clock), peak, Firm and Dispatchable Renewable Energy (FDRE) over the next five to seven years. These renewable projects will be located over 50,000 acres of land in Tamil Nadu with an investment potential of nearly Rs 70,000 crore. This initiative has the potential to generate around 3,000 green job opportunities, according to the filing. The second MoU is to increase the investment commitment to

Over 50% firms committed to achieving net-zero emission target: PwC survey

About 50 per cent of the Indian businesses surveyed expressed their commitment to achieving the net-zero target, reflecting their desire to address climate change issues and transit to a low-carbon economy, said a PwC report on Tuesday. Of these, about 48 per cent committed to achieving net-zero emission target by 2030, said PwC India's Tax transparency in ESG survey conducted between April-July 2023. The report is based on a market survey of nearly 250 tax heads, sustainability/ESG leaders, CFOs and CXOs of Indian businesses, spanning industries such as financial services, technology, media, and telecom (TMT), retail and consumer, engineering and construction, among others. In recent years, the global business landscape has witnessed a significant transformation in sustainable and responsible practices, said a PwC release, adding "as a core pillar of corporate strategy, companies are investing in sustainability and striving to communicate their intentions, commitments and ...