Page 12 - Renewable Energy

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

Tata Power planning to double Tirunelveli solar cell unit: Chandrasekaran

The new 4.3 GW solar cell and module manufacturing plant is equipped with cutting-edge TOPCon and Mono PERC technologies

Budget's focus on clean energy to push sector growth: RE industry

The renewable energy industry has hailed the Union Budget 2025-26, saying the focus on clean power, manufacturing, and sustainability will push the sector's growth. Union Finance Minister Nirmala Sitharaman presented her record eighth straight Union Budget in the Lok Sabha on Saturday. Vineet Mittal, Chairman of Avaada Group said strategic initiatives like global manufacturing clusters and clean tech advancements under National Manufacturing Mission will position India as a global industrial powerhouse. Sumant Sinha, Founder, Chairman & CEO, ReNew said the Rs 20,000 crore allocation for nuclear energy and proposed legislative reforms demonstrate a forward-thinking approach to energy security and decarbonization. Nikhil Sawhney, Managing Director, Triveni Turbines said, "We see these initiatives as a catalyst for innovation, sustainability, and self-reliance, reinforcing India's leadership in advanced energy solutions." Sharing his views, Abani Jha, CFO, Saatvik Green Energy said .

Emphasis on green transition to strengthen India's clean energy leadership

The Budget's focus on green transition will strengthen India's position as a global clean energy leader and meet decarbonization goals, industry players said. Girish Tanti, Vice Chairman, Suzlon said by strengthening Aatmanirbhar Bharat across manufacturing and agriculture, with a focus on clean tech, wind, solar, EV, and battery storage, the budget aims to accelerate self-reliance in wind and solar manufacturing. Pratik Agarwal, Managing Director, Sterlite Power and Chairman, Serentica Renewables, said there is continued focus on domestic manufacturing of generation and storage equipment, there is new-found mention of high-voltage transmission equipment. Given that there are global deficits in this product category, focusing on this sub-segment is a very sound move. Goldi Solar Managing Director said the National Manufacturing Mission's targeted support for all renewable energy sources is a welcome move, as it reinforces India's commitment to a level playing field and ambitious ...

Eco Survey: Incentivise public transport, not private electric vehicles

It mentioned that electric mobility makes economic sense in a country like India, which imports most of its oil and has abundant renewable energy and coal, but there are challenges

Avaada, Casale partner to develop India's largest green ammonia plant

Avaada Group on Friday announced its strategic collaboration with Casale to develop India's largest green ammonia plant, with an annual production capacity of 1,500 tonnes per day, in Gopalpur, Odisha. This milestone project marks a major advancement in Avaada's mission to drive decarbonisation, innovation, and sustainable industrial growth, further solidifying its role in India's clean energy revolution, a company statement said. According to the statement, Avaada Group, a leader in India's renewable energy sector, inked a strategic collaboration with Casale, a global pioneer in ammonia technology, to develop a 1,500 tons per day (TPD) green ammonia plant in Gopalpur, Odisha. The Gopalpur plant will be powered entirely by renewable energy, utilising Casale's advanced ammonia production technology to ensure a carbon-free process. It will provide the green ammonia process license, basic engineering package, proprietary equipment, and detailed engineering review, helping to create a .

Suzlon Energy at 5% upper limit, zooms 16% in 3 days on Q3; analysts upbeat

Suzlon Energy shares have jumped 16 per cent over the last three trading sessions on the back of robust Q3FY25 results, which were supported by strong execution

HVDC a $30 bn market but India barely in the game: Sterlite Power MD

Renewable energy is now the cheapest power source. Companies primarily buy it for cost savings, with environmental benefits as a bonus

Waaree Energies Q3 results: Net profit grows multifold to Rs 506.8 cr

Waaree Energies on Thursday reported a multifold rise in consolidated net profit to Rs 5,068.76 crore for the December 2024 quarter, helped by higher income. It had posted a Rs 1,408.05 crore net profit in the year-ago quarter, the company said in an exchange filing. The company's total income rose to Rs 35,452.65 crore from Rs 16,517.74 crore in the October-December period of 2023-24. Its expenses stood at Rs 28,554.53 crore against Rs 15,173.08 crore a year ago. In a media statement, the company's Whole Time Director and CEO Amit Paithankar said, "Our solar business continues to be strong, and we are rapidly advancing in the adjacencies of energy storage systems, green hydrogen, inverters and renewable infrastructure". The momentum in this space is stronger than ever, and the company is well-positioned to capitalise on it, the statement said. The US contributed 15-20 per cent of the company's revenue mix, Paithankar said. In January, the company, through its US-based subsidia

Union Budget 2025-26: Here're key challenges in renewable energy sector

Tariffs for battery energy storage systems tenders reduced this year; however, the dependency remains on imports for cells

Trump halts authorisations for renewable projects on federal lands, waters

President Donald Trump and his nominees have championed oil, gas and coal production while disparaging renewable power as unreliable

India, US, West Asia to add 100 GW solar capacity in 2025: Wood Mac report

India, the US and Middle East are together expected to add 100 GW of solar capacity in 2025, while China will remain a dominant player in the sector, Wood Mackenzie has said. According to its latest research, the module prices will also increase this year, after two years of low solar panel prices due to global overcapacity. This will compensate for the significant losses in profits that manufacturers experienced, it said. "Emerging hubs in India, the US and the Middle East are expected to add at least 100 GW to the global solar manufacturing capacity," Wood Mackenzie said. China will remain the dominant manufacturing hub. China will continue to be the world's solar manufacturing centre with 75 per cent (1.2 TW (terawatts) of the global operational capacity for major module components, the report said. Wood Mackenzie said that coordination by Chinese manufacturers, supported by the Chinese government, will be the key to bringing about rationalisation of the industry. In 2025, adv

Servotech Renewable Power Q3 results: Net profit grows to Rs 8 cr

Servotech Renewable Power System on Tuesday reported a manifold rise in its consolidated net profit to nearly Rs 8 crore in the December quarter, pushed by higher revenues. It had posted a net profit of Rs 1.11 crore during the October-December period of 2023-24 financial year, the company said in a regulatory filing. The company's total revenue rose over four-fold to Rs 216.83 crore from Rs 52.20 crore a year ago. Expenses too jumped to Rs 204 crore against Rs 50.34 crore in the same period of the preceding fiscal. Servotech Renewable Power System is a leader in tech-enabled EV charging and solar solutions. In a separate statement, the company's Managing Director Raman Bhatia said the quarter experienced stellar growth. "As a market leader in India's EV charging sector, currently holding a 35-40 per cent market share, we are strategically positioned to capture 50-55 per cent by manufacturing 12,000 direct current (DC) fast chargers in FY25, meeting the rapidly surging demand for

Sterling and Wilson Renewable reports Q3 net profit at Rs 17.14 crore

Sterling and Wilson Renewable Energy Ltd (SWREL) on Thursday posted a consolidated net profit of Rs 17.14 crore for December quarter FY25 mainly on the back of higher revenues. The company had incurred a net loss of Rs 62.39 crore in the year-ago, period, according to a BSE filing. Total income rose to Rs 1,842.67 crore from Rs 610.31 crore in the same period a year ago. The company's board also approved the appointment of Sandeep Thomas Mathew, currently holding the position of Head Investor Relations, as the interim Chief Financial Officer with effect from January 16, 2025, till the time new CFO is appointed. Further, the company informed the bourse that Amit Jain has resigned as Global CEO SWREL Group. He will be relieved from his services on February 28, 2025. Jain will be replaced by Chandra Kishore Thakur, CEO Asia, Africa, LATAM & Europe with, with effect from March 1, 2025. "Our performance this quarter brings forth the resilience of our business model. We are ...