Page 10 - Renewable Energy

Localising supply chains needed for long-term success, say RE leaders

Ultra large projects and rising domestic production to replace traditional power in near future

India's renewable energy leaders call for localisation to sustain growth

Localisation of supply chains and talent development are key to making India's renewable energy sector self-reliant and globally competitive, industry experts stress at BS Manthan

India’s renewable energy leaders call for localisation to sustain growth

India’s renewable energy leaders call for localisation to sustain growth

BP turns back to fossils, to increase annual oil, gas investment to $10 bn

The oil major slashed planned annual investment in transition businesses by more than $5 billion than its previous forecast, to between $1.5 billion and $2 billion per year

BS Manthan: Can India emerge as a global leader in renewable energy?

Can India become a global renewable energy hub with major investments in solar, wind, and green hydrogen? Experts set to discuss the roadmap at BS Manthan 2025

Micromax makes foray into renewable energy space with Startup Energy

Home-grown consumer electronics brand Micromax Informatics on Wednesday announced its foray into renewable energy segment with the launch of Startup Energy. This new venture aims to revolutionize solar panel manufacturing in India, driving the widespread adoption of sustainable energy and supporting the country's ambitious clean energy mission, a company statement said. As the world accelerates its transition to clean energy, Startup Energy is poised to play a pivotal role in India's renewable energy revolution, it added. The company will focus on producing high-efficiency solar panels for residential, commercial, and industrial applications, ensuring affordable and scalable solar power solutions across the country. "Our goal is to make clean energy more accessible, reliable, and cost-effective, ensuring that individuals and businesses alike can benefit from sustainable power solutions," Rajesh Agarwal, Managing Director, Micromax Informatics said. As part of this expansion, Micro

Centre mulls $1 billion subsidy plan to boost solar manufacturing industry

The plan has the backing of the top advisers in Prime Minister Narendra Modi's office and is expected to be presented to the cabinet for approval in the next few months, they said

Gensol Engineering to sell US arm Scorpius Trackers for Rs 350 cr

Gensol Engineering on Tuesday said it has inked a pact for sale of its US subsidiary Scorpius Trackers Inc for Rs 350 crore to a major renewable energy solutions provider in the US. The deal includes the transfer of exclusive and global intellectual property (IP) rights (except India) for Scorpius Trackers' advanced solar tracking technology, the company said in a statement. According to the statement, Gensol Engineering -- a leading player in India's renewable energy sector -- has signed a non-binding term sheet for a Rs 350 crore strategic transaction involving the sale of its US subsidiary, Scorpius Trackers Inc, to a major renewable energy solutions provider in the US. This transaction underscores Gensol's strategy to monetise high-value assets, unlock capital from its subsidiaries, and reinvest in its core growth areas, strengthening the company's financial position, it said. The deal will be completed in two tranches, with full closure expected by March 2026, subject to due .

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

ReNew Q3FY25 results: Net loss widens to Rs 387.9 crore, income up 10%

Clean energy company ReNew on Wednesday reported widening of its net loss to Rs 387.9 crore for the December quarter. It had posted a net loss of Rs 321.6 crore in the year-ago period, the Nasdaq-listed company said in a statement. However, the company's total income for the third quarter of the ongoing fiscal year rose 10 per cent to Rs 2,119.8 crore from Rs 1,929 crore a year earlier. Revenue from the sale of power during the quarter was Rs 1,499.1 crore compared to Rs 1,502.6 crore a year ago. Net profit for the first nine months of FY25 was Rs 145.4 crore compared to Rs 353.8 crore for the same period in FY24. Total income -- or total revenue -- for the first nine months of FY25 was Rs 7,591.1 crore compared to Rs 7,241.4 crore a year ago. The income includes external sales from the module and cell manufacturing operations amounting to Rs 345.9 crore. Revenue from the sale of power for the first nine months of FY25 was Rs 6,437.5 crore, compared to Rs 6,131.4 crore. "We con

India needs $700 bn in power sector to meet net-zero target: Moody's

India's power sector - the biggest carbon emitter - will need massive USD 700 billion investment over the next 10 years to help the country achieve its 2070 net-zero pledge, Moody's Ratings said on Wednesday. Stating that the power sector accounts for around 37 per cent of carbon emissions in the country, the rating agency said the investments required by the power sector during fiscal 2026-51 to be of the order of 1.5 per cent to 2 per cent of GDP (around 2 per cent for the next 10 years), which is manageable for India. The sector, which currently is highly dependent on coal-fired generation, has to make significant decarbonization investments for the country to meet its emission cut goals. "Our expectation of strong economic growth over the next 10 years implies an expansion of India's coal-based power generation capacity in that period, hindering carbon transition," it said. In a note, Moody's pegged power sector's annual investment requirement between Rs 4.5 lakh crore to Rs 6.

Reliance Infra to enter RE manufacturing space with solar, battery plants

Reliance Infrastructure (RInfra) is entering into the renewable energy (RE) equipment manufacturing space to increase its business portfolio, industry sources said. The Reliance Group company has already appointed Ivan Saha as Chief Executive Officer (CEO), Renewable Manufacturing, and Mushtaque Hussain as Chief Executive Officer (CEO), Battery Manufacturing, they said. "RInfra is making strategic entry into the renewable energy manufacturing industry," sources said. The company would set up an integrated solar manufacturing unit with the objective to boost the production of solar panels and components in India, promoting self-sufficiency in clean energy. Solar manufacturing will be led by Saha, who comes with over 30 years of experience in semiconductors and solar technology and device design. He has served organisations like Vikram Solar and ReNew Power. Its integrated battery manufacturing unit will focus on developing advanced energy storage solutions for grid applications and

Adani Green withdraws from $442 million Sri Lanka wind power project

The Sri Lankan government had opted to review and renegotiate the terms to bring the cost below $0.06 per unit from $0.0826, negotiated by the previous administration

ONGC-NTPC Green Energy JV acquire Ayana Renewable for Rs 19,500 cr

This marks the first such strategic investment by a government-owned company in the Indian renewable energy sector

ONGC, Tata Power Renewable sign pact on battery storage solutions

State-owned Oil and Natural Gas Corporation (ONGC) on Wednesday signed an initial pact with Tata Power Renewable Energy Ltd to explore collaborative opportunities in the Battery Energy Storage System (BESS) value chain. ONGC has been stringing around deals in clean energy as part of its target to scale renewable energy capacity to 10 gigawatts by 2030 a part of its target to achieve net zero carbon emission by 2038. Besides solar and wind energy projects, ONGC is looking at round-the-clock renewable power capacity to meet this target. "ONGC has signed a non-binding Memorandum of Understanding (MoU) with Tata Power Renewable Energy Ltd (TPREL), a subsidiary of The Tata Power Company Ltd, to explore collaborative opportunities in the BESS value chain at India Energy Week 2025," the firm said in a statement. The pact will explore a range of applications across the BESS value chain, including utility-scale energy storage systems, grid stabilisation and ancillary services, renewable ener

Morgan Stanley buys 1.5% stake in Sterling and Wilson for Rs 103 crore

Investment banking firm Morgan Stanley on Tuesday bought a 1.5 per cent stake in Sterling and Wilson Renewable Energy for Rs 103 crore through an open market transaction. Billionaire Mukesh Ambani's Reliance New Energy and Shapoorji Pallonji Group's promoted-Sterling and Wilson Renewable Energy Ltd (SWREL) are the leading solar EPC solution providers. US-based Morgan Stanley through its affiliate Morgan Stanley Asia Singapore purchased 36.44 lakh shares, amounting to a 1.56 per cent stake in Mumbai-based Sterling and Wilson Renewable Energy, as per the bulk deal data available on the NSE. The shares were disposed of at an average price of Rs 282.20 apiece, taking the transaction value to Rs 102.84 crore. Meanwhile, Goldman Sachs, through its arm Goldman Sachs Funds - Goldman Sachs India Equity Portfolio, sold 34.27 lakh shares or a 1.47 per cent stake in SWREL for Rs 97 crore. The shares were offloaded at an average price of Rs 282.46 apiece, taking the deal size to Rs 96.82 crore

By 2030, India wants to add 500 GW renewable energy capacity: PM Modi

Prime Minister Narendra Modi virtually addressed the India Energy Week 2025, outlining India's energy roadmap and the country's commitment to becoming a global energy leader

Cloud over RE: India's green energy becomes a victim of its own success

Green energy is a victim of its own success

Juniper Green Energy secures $1 billion fund in phased debt financing

Renewable energy developer Juniper Green Energy on Monday said it has secured USD 1 billion in phased debt financing over the past few months from leading financial institutions. This strategic funding will support the growth and development of Juniper Green Energy and its subsidiaries, specifically for wind-solar hybrid and Firm & Dispatchable Renewable Energy (FDRE) projects. The company has successfully secured USD 1 billion in phased debt financing over the past few months from leading financial institutions, including Power Finance Corporation Limited (PFC), DBS Bank, HSBC Bank, and the Indian Renewable Energy Development Agency Limited (IREDA), Juniper Green Energy said in a statement. This fresh debt financing positions Juniper Green Energy to execute large-scale renewable projects, strengthen its operational capacity, and meet the rising demand for clean energy, it informed. Juniper Green operates a total capacity of 1.1 GWp. Recent developments include Juniper Green ...

Renewable energy projects of 40 GW fail to find buyers for green power

A senior official said, pausing more tenders was "seriously considered" till pending PPA/PSAs are signed, but no final decision was taken