Page 18 - Renewable Energy

Reliance to commission first solar giga-factory this year: Mukesh Ambani

Reliance Industries Ltd, India's most valuable company, plans to commission its first solar giga-factory this year as part of a pivot towards green energy, its chairman Mukesh Ambani said on Thursday. The solar giga factory will include the manufacturing of PV modules, cells, wafers and ingots, polysilicon, and glass at a single location. The modules convert sunlight into electricity. Addressing the annual shareholders meeting, he said the first train of 20GW solar PV (photovoltaic) manufacturing "will commence production" by the end of this year. It is also targeting industrialising sodium-ion cell production at the MW level in 2025 and the first 50 MWh a year lithium battery cells pilot in 2026. Reliance, in 2021, announced plans to invest USD 10 billion over three years to develop a new fuels business based on 100 GW of renewable power capacity by 2030. The plan involves setting up four giga factories for manufacturing renewable equipment, battery storage, fuel cells and hydrog

Gensol Engineering sets up US subsidiary, to supply 2,000 MW solar trackers

Homegrown Gensol Engineering on Wednesday said it has set up a subsidiary in the US with an aim to supply over 2,000 MW solar trackers annually by 2028 to key renewable energy markets. The first US office of the newly formed arm Scorpius Trackers Inc will be located in California, positioning the company at the heart of one of the most dynamic renewable energy markets globally, Gensol Engineering said in a statement. "Gensol Engineering announces entry into the US market with Scorpius Trackers Inc. With a goal to supply over 2,000 MW annually by 2028, Scorpius Trackers Inc aims to capitalise on its decade-long experience," the company said. It has over 1,000 MW of contracted orders across key markets including India, Africa, Japan, and the Middle East, it said. The US solar tracker market, which is the largest in the world deploys trackers aggregating over 25,000 MW annually. The US tracker market is growing at a robust compound annual growth rate (CAGR) of more than 20 per cent,

Vedanta to establish two not-for-profit industrial parks: Anil Agarwal

Industrialist Anil Agarwal states that an industrial park can greatly increase the competitiveness of manufacturing while bringing down the cost of transporting raw material

Indian Railways pacing towards net zero emissions, says Railway Board

Indian Railways is rapidly progressing towards its goal of achieving net zero carbon emissions by 2030, the Railway Board said on Tuesday. According to the Board, it is making efforts to grant net zero status to Railway premises across the country with a focus on meeting Railways' energy needs entirely through renewable energy sources. "The Northeast Frontier Railway zone of Indian Railways has achieved a significant milestone by converting its buildings to net zero carbon emission structures. "The Bureau of Energy Efficiency (BEE), under the Ministry of Power, has honoured six different buildings of the zone with the 'Shunya Label' recognition as Net Zero Energy Buildings," the Board said in a statement. It added, "Over the past decade, from 2014 to 2024, there has been a significant increase in renewable energy production capacity." As of June 30, 2024, Indian Railways' solar energy production capacity has exceeded 238 MW, and wind energy production capacity has surpassed 103 MW

ReNew signs clean power sale agreement worth 437.6 MW with Microsoft

ReNew on Tuesday announced the signing of a clean power sale contract of 437.6 megawatt (MW) with Microsoft. The contract is expected to generate over one million units of green electricity attributes annually, contributing to Microsoft's aim to become carbon negative by 2030, ReNew said in a statement. "ReNew today announced the signing of a green attribute sale contract of 437.6 MW with Microsoft," it said. ReNew will direct about USD 15 million of revenue from the contract towards a community fund to support environment-focussed initiatives. This work will be delivered in partnership with the ReNew Foundation, the philanthropic arm of ReNew, which works to create sustainable communities through climate action with a focus on women and youth and whose efforts are aligned with Microsoft's Environmental Justice priorities. Puneet Chandok, President, Microsoft India & South Asia, said, "This agreement with ReNew accelerates our progress towards these goals while benefiting local ..

BC Jindal Group lines up green energy foray with $2.5 bn investment

Founded in 1952, the B C Jindal group is engaged in the manufacturing of steel pipes and pipe fittings

Andhra to unveil integrated renewable energy policy, courts investors

The policy will cover solar, wind, hybrid energy storage, green hydrogen and its derivatives, biofuels, and electric vehicle charging infrastructure

JK Tyre to invest Rs 1.32 cr to acquire 26% stake in solar energy venture

JK Tyre and Industries is set to invest Rs 1.32 crore for 26% stake in solar power firm Truere Galaxy, that was incorporate less than five months ago

Hi-Tech Pipes bags Rs 100 cr pipe supply order; plans to raise Rs 600 cr

Hi-Tech Pipes on Tuesday said it bagged orders worth Rs 105 crore for supply of electric resistance welded steel pipes from customers in the renewable energy sector. The company also announced a plan to raise up to Rs 600 crore through issuance of equities. The supply orders will be executed from its new manufacturing facility located in Sanand, Gujarat over the next three months, the steel pipes maker said in a statement. The orders for supplying ERW (electric resistance welded) steel pipes, totalling Rs 105 crore, came from key customers in the renewable energy sector, according to the statement. "The steel pipes will be utilized in various applications within the renewable energy sector, including wind farms, solar installations, and other green energy projects," it said. In a separate statement, the company said its board has approved a plan to raise up to Rs 600 crore though equity issues. The fund raising plan has been approved "by way of issue of equity shares or any other

Goa to be permanent venue for annual India Energy Week: CM Sawant

Goa Chief Minister Pramod Sawant on Thursday announced that the coastal state would serve as the permanent venue for the annual India Energy Week (IEW). Addressing the state on the occasion of 78th Independence Day, he said the Oil and Natural Gas Commission (ONGC) has decided to host the annual IEWs in Goa permanently. Sawant also said his government was dedicated to creating a bright future for the state in the fields of green economy and blue economy. While the term 'green economy' refers to the economic system that aims at reducing environmental risks and ecological scarcities, and that aims for sustainable development, 'blue economy' or the ocean economy, is a term used to describe the economic activities associated with the oceans and seas. "We have successfully conducted international events like Ironman, G20 and India Energy Week. ONGC has decided to host IEW permanently in Goa every year," he said. Hosting events like the IEW helps the state's economy, he said. The IEW .

ONGC, JSW, Sembcorp shortlisted for majority stake in $800 mn Ayana deal

Ayana Renewable Power, backed by NIIF manages a 5 GW portfolio of operational and under-construction projects. The company is open to sell up to 100% of its stake

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

JSW Energy secures contract from SECI for 230 MW renewable energy supply

JSW Energy on Thursday said its arm received a letter of award from Solar Energy Corporation of India (SECI) for supply of 230 MW of power from its renewable energy project. The energy supply order has been secured by wholly-owned subsidiary JSW Neo Energy Limited, JSW Energy said, adding that the company received the letter of award following a tariff-based competitive bidding process. Bids were invited for supply of 630 MW of firm and dispatchable power from an inter state transmission system or ISTS-connected renewable energy project SECI-FDRE-IV, JSW Energy said in an exchange filing. With the latest contract, the company's total locked-in generation capacity has increased to 16.4 GW, which includes a hybrid capacity of 2.3 GW, including FDRE (firm and dispatchable renewable energy). The company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently.

ADB, World Bank's IFC, DEG pump $275 million into Fourth Partner Energy

Largest equity deal by 3 investors in Indian RE sector

Suzlon buys majority stake in Renom to strengthen renewable energy services

Renom currently manages 1,782 megawatts (MW) in wind, 148 MW in solar, and 572 MW in balance of plant energy (BOP) under maintenance

Stock market positive on Thermax despite profit margin decline in Q1

The industrial products segment is poised for double-digit growth driven by solutions for water treatment and air pollution

Sunkind Energy secures 20 MW solar projects in Punjab, Maharashtra

Clean energy company Sunkind Energy on Monday said it has secured new solar power projects totalling around 20 megawatts (MW). The contracts have been awarded by Nahar Group and Jindal Group, the company said in a statement. For Nahar Group, the company said it will set up a capacity of 7.3 MW in Ludhiana, Punjab, for captive purposes and a 19.6 MW captive solar project for Jindal Group in Nashik, Maharashtra. Both projects will be set up in engineering, procurement and construction (EPC) mode. The company aims to complete these contracts by September 2024, Sunkind Energy founder and CEO Hanish Gupta said. The company did not provide any financial details of the project. As per industry estimates, 1 MW of solar projects involves an investment of around Rs 5-7 crore, including land cost. Gurugram-based Sunkind Energy is a leading EPC solar company in the country, having a total orderbook of 52 MW solar projects under various stages of implementation.

Electricity: A strategic view

Heavy lifting is now required in electricity and financial reforms

Despite new coal plants, India will face more power cuts by 2027: Research

India's power crisis: To avert a looming power shortage, India must accelerate efforts to boost renewable energy capacity, warns new research

Hitachi Energy India Q1 results: Net profit jumps four-times to Rs 10.4 cr

Hitachi Energy India on Wednesday posted four-fold jump in net profit to Rs 10.4 crore for June quarter FY25 mainly due to higher revenues. The company had reported a net profit of Rs 2.4 crore for the year-ago period, it said in a BSE filing. Revenues rose to Rs 1,327.3 crore from Rs 1,043 crore. "As the energy transition gathers pace, investments in the power sector - especially renewables continued to grow," said N Venu, MD & CEO of Hitachi Energy India. This is reflected in the company's strong order intake and record order backlog which it is steadily converting to revenues through solid execution while keeping a close watch on costs. "We are optimistic on ongoing market support, especially in our identified high growth segments - renewables, HVDC, data centers, electrification of transport, etc," he added. In June quarter, orders totalled Rs 2,436.7 crore, more than double as compared to the year-ago period. Renewables led the charge from studies across utilities and ...