Page 14 - Renewable Energy

India's 2030 renewable energy target ambitious, says Climate Group CEO

India has realised in recent years that economic growth does not have to rely on high carbon emissions and its solar mission and 2030 renewable energy target are highly ambitious, said Helen Clarkson, Chief Executive Officer of the international non-profit Climate Group. The Climate Group hosts Climate Week NYC, a leading global climate event which brings together leaders from the world of business, technology, politics, academia and civil society. Talking to PTI, Clarkson also said that while India has a net-zero target (balancing emissions with removals) for 2070, there is a need for greater ambition. She suggested that India should align with other countries in moving its net-zero goal forward. "We would like to see more ambition from India. It's been very clear that it has got its Nationally Determined Contributions, but it is talking about net zero by 2070. We would like to see that come forward and align with other countries," she said. Countries are required to submit their

Coca-Cola bottler Ladhani Group's SLMG Beverages eyes overseas expansion

Ladhani Group-owned company plans to double its revenue to Rs 20,000 crore by FY31

BP seeks to sell 50% of solar unit to strategic partner, bids due in June

London-listed BP is planning asset sales and partnerships as part of a broader plan to address investor concerns. The energy group wants to cut costs and improve its return on investments

Rooftop installations under PM Surya Ghar cross 1 mn mark: Pralhad Joshi

Over 1 million households have been solarised under the PM Surya Ghar: Muft Bijli Yojana so far, Union Minister for New and Renewable Energy Pralhad Joshi said on Tuesday. The PM Surya Ghar: Muft Bijli Yojana is the world's largest domestic rooftop solar initiative, transforming India's energy landscape with a vision to supply solar power to one crore households by March 2027. "India achieves a historic milestone in solar energy! Under the visionary leadership of PM @narendramodi ji, the @PMSuryaGhar Muft Bijli Yojana has empowered 10 lakh homes with solar energy, driving a new era of sustainability, affordability, and self-reliance," Joshi said in a post on X. As per MNRE, as of March 10, 10.09 lakh installations have been completed across the country. Launched by Prime Minister Narendra Modi in February 2024 with a budget outlay of Rs 75,021 crore, the initiative aims to provide free electricity to households by facilitating the installation of rooftop solar panels. The scheme,

CleanMax, Osaka Gas form joint venture for India's green transition

The newly formed entity, CleanMax Osaka Gas Renewable Energy (CORE), will focus on wind-solar hybrid solutions, starting with a 400-megawatt (MW) portfolio in Karnataka

Tata Power arm set to invest Rs 49K cr in RE projects in Andhra Pradesh

This partnership aligns with the state's vision to enhance its renewable energy portfolio and accelerate the transition towards a sustainable and green energy future

Trump uncertainty will not affect investment in India: ReNew CEO Sinha

'We have installations of about 6 Gw in solar and 5 Gw in wind energy, and a pipeline of 15 Gw,' said Sumant Sinha, chairman and chief executive officer of ReNew

60 Gw worth of renewable energy projects face connectivity troubles

Delay in transmission connectivity, expiry of ISTS waiver looming fears for the industry

Best of BS Opinion: India needs to recalibrate in a changing world order

Today's editorials and columns look at the world through the lens of relationships, and how they don't always turn out as intended

Onix Renewable plans Rs 1,000 cr IPO, targets Rs 10,000 cr valuation

Promoters will dilute 10 per cent of their stake, bringing their post-listing holding to 62 per cent. Discussions with investment bankers are currently underway

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