Page 20 - Renewable Energy

More than 10 mn households registered under rooftop solar scheme: PM Modi

Prime Minister Narendra Modi on Saturday said more than one crore households have already registered under the rooftop solar scheme 'PM-Surya Ghar: Muft Bijli Yojana', and lauded it as "outstanding news". "Registrations have been pouring in from all parts of the nation. Assam, Bihar, Gujarat, Maharashtra, Odisha, Tamil Nadu and Uttar Pradesh have seen over 5 lakh regulations," he said in a post on 'X'. The prime minister also asked those who have not yet registered to do so at the earliest, noting that the initiative promises substantial reductions in electricity expenses for households along with ensuring energy production. "It's poised to encourage Lifestyle for Environment (LiFE) on a grand scale, contributing to a better planet," he said. The Union Cabinet, chaired by the prime minister, last month approved the scheme with a total outlay of Rs 75,021 crore for installing rooftop solar panels and providing free electricity up to 300 units every month for one crore households.

REC Power, BHEL to develop utility-scale renewable energy projects

REC Power Development and Consultancy and BHEL on Friday inked an initial pact to form a special purpose vehicle (SPV) for developing utility-scale renewable energy projects. Renewable energy projects of 10 MW or more are referred as utility-scale projects. REC Power Development and Consultancy Limited (RECPDCL) is a wholly owned subsidiary of state-owned REC Ltd. The SPV will be benefitted by the core engineering expertise of BHEL and infrastructure investment expertise of REC, a statement said. It will focus on catering to the energy requirement of commercial and industrial (C&I) segment with initial capacity of 1 GW which would be scaled further. "This collaboration brings together our extensive experience in the renewable energy sector with BHEL's proven expertise in manufacturing and engineering. This SPV will play a crucial role in achieving India's ambitious renewable energy targets and contribute to a cleaner and greener future," REC Chairman and Managing Director Vivek .

NHPC bags 200 MW solar project in Khavda Renewable Energy Park in Gujarat

State-run hydro power giant NHPC has bagged a 200 MW solar project which will be set up at Gujarat State Electricity Corporation's 1,125 MW renewable energy park at Khavda, in Gujarat. The e-reverse auction for the project was conducted by GUVNL (Gujarat Urja Vikas Nigam) on March 2, 2024 and the Letter of Intent was issued on March 14, 2024, a company statement said. The project was secured at a tariff of Rs 2.66 per unit and will be completed in a period of 18 months. The project will generate about 473 million units in the first year of commissioning and the cumulative generation from the project over a period of 25 years would be about 10,850 million units. The NHPC will develop the project on a build-own-and-operate basis at a tentative development cost of about Rs 847 crore.

Not aware of promoter stake sale: Sterling & Wilson Renewable Energy

There would not be any material impact of this news article on the operations of the company, the company said

TPSSL commissions 100 solar project with 120 MWh battery storage capacity

Tata Power Solar Systems (TPSSL) on Tuesday said it has commissioned 100 MW solar PV project, coupled with 120 MWh utility scale battery energy storage systems (BESS), at Rajnandgaon in Chhattisgarh. TPSSL bagged the Rs 945-crore project on EPC (engineering procurement construction) basis from the Solar Energy Corporation of India Ltd (SECI) in December 2021, a statement said. The order scope included engineering, design, supply, construction, erection, testing, O&M, and commissioning of the projects. According to the statement, TPSSL, a fully integrated solar company in India and a wholly owned subsidiary of Tata Power Renewable Energy Ltd (TPREL), has successfully commissioned the country's largest solar and BESS project comprising 100 MW Solar PV Project coupled with 120 MWh Utility Scale Battery Energy Storage System (BESS), at Rajnandgaon in Chhattisgarh. The TPSSL team displayed exceptional project execution and engineering prowess during the project execution, which faced ..

Rajasthan govt signs 5 MoUs worth Rs 1.60 trn to boost energy sector

These MOUs and purchasing power agreements (PPA) will increase thermal and renewable energy production in the state, the release stated

This stock zoomed 164% in 2 months on plans of stock split; up 816% in FY24

The company has fixed March 16 as the record date for its proposed 1:5 stock split.

Tata JLR aims to generate over a third of its own power globally by 2030

The company said work would start this year on the automaker's first three UK solar projects in Gaydon, Halewood and Wolverhampton, which should be completed by the end of 2026

India's green hydrogen sector will need $4-12 billion support: A&M report

The firm said estimated support is driven by the need to level playing field against global suppliers who enjoy government subsidies and to enable domestic end-use sectors to transition affordably

REC to issue deep-discount bonds to raise Rs 5,000 crore in March

The state-run financier plans to raise the money through 10-year, deep-discount bonds and the issue is likely to see strong investor demand, the sources said

Govt finalises funding mechanism for battery energy storage system project

Union Power and New & Renewable Energy Minister R K Singh has finalised the mechanism for deployment of funds for various projects to develop battery energy storage systems in the country. Battery energy storage systems (BESS) will ensure round-the-clock supply of renewable energy. The minister chaired a meeting on February 22 to finalise the structure for operationalising the scheme of viability gap funding for development of BESS with the capacity of 4,000 megawatthours (MWh), an official statement said on Sunday. Officials from the power ministry and those from Central Electricity Authority, Solar Energy Corporation of India, Grid India, and NTPC Vidyut Vyapar Nigam Ltd. (NVVN) were present in the meeting. Addressing the officials, Singh said that the government will encourage setting up of BESS capacity through a viability gap funding scheme to meet the fast-growing needs of power demand as well as energy transition. The minister said when we have extra solar energy during the

Renewable Energy capacity to rise to 170 GW by March 2025, says ICRA

India's installed Renewable Energy (RE) capacity, excluding large hydro plants, is estimated to increase to 170 GW by March 2025 from a level of 135 GW in December 2023, rating agency ICRA said on Friday. "ICRA estimates that the rise in the RE capacity over the next five-six years is estimated to enhance the share of RE plus large hydro in the all-India electricity generation from about 23 per cent in FY24 to around 40 per cent in FY30," ICRA said in a statement. Given the intermittency associated with RE generation, the availability of Round The Clock (RTC) supply from RE sources remains important, it stated. This can be made possible through the use of wind and solar power projects complemented with energy storage systems, it suggested. According to the statement, ICRA expects the installed RE capacity, excluding hydro energy, in India to increase to about 170 GW by March 2025 from 135 GW as of December 2023. Thereafter, the capacity addition is likely to be supported by the ..

Solar installations fall 44% in 2023 due to land related issues: Report

India has reported a 44 per cent fall in solar installations at 7.5 gigawatt in 2023 due to land acquisition-related issues, research firm Mercom Capital said on Thursday. According to the US-based research firm's latest report, a total of 13.4 gigawatt (GW) solar capacity was installed in the country in 2023. As of December 2023, the cumulative installed solar capacity stood at 72 GW. Of which utility-scale projects accounted for 85.4 per cent, and rooftop solar accounted for 14.6 per cent, the report said. "In 2023, large-scale solar installations fell 51 per cent to 5.8 GW from 11.7 GW in 2022. Extensions granted to several large-scale projects and delays primarily due to land (acquisition) and transmission (connectivity) issues impacted capacity additions during the year. Large-scale solar accounted for 77.2 per cent of annual solar capacity additions, and rooftop solar contributed 22.8 per cent," it said. Rajasthan followed by Karnataka, and Gujarat were the top three states f

ReNew Q3 results: Loss narrows to Rs 321 cr, revenue rises to Rs 1,929 cr

ReNew on Tuesday said its net loss narrowed to Rs 321.6 crore during the quarter ended December 31, 2023. It had posted a net loss of Rs 401.3 crore during the October-December period of the preceding 2022-23 financial year, the renewable energy firm said in a statement. The company's total revenue rose to Rs 1,929 crore, from Rs 1,607.7 crore in the year-ago period. The earnings before interest, taxes, depreciation, and amortization (EBITDA) was Rs 1,250.9 crore in the quarter under review, as against Rs 1,162.8 crore the third quarter last fiscal. As of December 31, 2023, the company's portfolio consisted of 13.8 GW capacity, of which 8.5 GW is commissioned and 5.3 GW committed capacity, compared to 13.4 GW capacity as of December 31, 2022. During the April-December period, the net profit was at Rs 353.8 crore. The company had reported a net loss of Rs 510.3 crore in the first nine months of FY23. Total income was at Rs 7,241.4 crore in the first nine months of this financial y

REC, Damodar Valley inks pacts worth Rs 588 cr to develop tubed coal mines

State-owned REC signed agreements to provide Rs 588 crore finance facilities to Damodar Valley Corporation for development of tubed coal mines in the Damodar Valley region. "REC Ltd has signed agreements worth Rs 588 crore with the Damodar Valley Corporation (DVC) to strengthen infrastructure and energy projects in the Damodar Valley region," a power ministry statement said. According to the statement, the agreements aim to strengthen the cooperation between REC and DVC for the development of tubed coal mines, and include a term loan agreement, an escrow agreement, and hypothecation deeds. The agreement was signed by Senior Chief Project Manager, REC Regional Office, Kolkata, Santosh Kumar Sahu, and Senior General Manager (Finance), DVC, Durgesh Maity. The agreements signed underscore the collaborative efforts of both organisations in promoting sustainable development and leveraging resources for the greater benefit of the community. REC and DVC remain steadfast in their dedicatio

Govt issues guidelines for transport pilot projects on green hydrogen use

The government on Wednesday issued scheme guidelines to support pilot projects based on the use of green hydrogen as fuel in buses, trucks and four-wheelers. The scheme will be implemented with a total budgetary outlay of Rs 496 crore till the financial year 2025-26, a statement by the Ministry of New Renewable Energy said. The central government has come out with guidelines for undertaking pilot projects for using green hydrogen in the transport sector. "Scheme Guidelines for Implementation of Pilot Projects for Use of Green Hydrogen in the Transport Sector" have been issued by the Ministry of New & Renewable Energy (MNRE) on February 14, 2024, under the National Green Hydrogen Mission, according to the statement. With the falling costs of renewable energy and electrolysers, it is expected that vehicles based on green hydrogen can become cost-competitive over the next few years. Future economies of scale and rapid technological advancements in the field of vehicles powered by ..

KPI Green Energy Q3 results: Net profit up 47% at Rs 50 cr, revenue doubles

KPI Green Energy Ltd on Wednesday posted a 47 per cent rise in consolidated net profit to Rs 50.60 crore in the December quarter, supported by higher income. It had clocked a net profit of Rs 34.45 crore in the year-ago period, the company said in an exchange filing. The company's total revenue surged to Rs 331.32 crore over Rs 179.66 crore a year ago. Its expenses stood at Rs 259.55 crore in the third quarter of the ongoing fiscal, as against Rs 137.11 crore a year ago. KPI Green Energy Ltd (Formerly known as KPI Global Infrastructure Ltd), is the solar and hybrid vertical of KP Group. The Gujarat-based company develops, builds, owns, operates and maintains solar and hybrid power plants through as an Independent Power Producer (IPP) and as service provider to Captive Power Producer (CPP).

Airtel's Nxtra to procure 140,208 MW renewable energy for data centres

Nxtra, the data centre unit of Bharti Airtel, on Wednesday announced an agreement with Ampln and Amplus Energy to procure an additional 140,208 MWh (megawatt-hour) of renewable energy. With this, Nxtra has fortified its existing commitment of reducing its carbon footprint through renewable energy sources annually by nearly 99,547 tCO2e (stands for 'tonnes of carbon dioxide equivalent'). "As per the agreement, AmpIn Energy and Amplus Energy will set up captive solar and wind power plants of 48 MWdc and 24.3 MW, respectively, for Nxtra's data centres in Tamil Nadu, Uttar Pradesh, and Odisha," the release said, announcing the pact. This is in line with Nxtra's resolve to achieving its net-zero target of 2031 and further strengthen its credentials as India's largest chain of green data centres in the country, the release added. "This is in addition to Nxtra's multiple other interventions to reduce absolute scope 1 and 2 greenhouse gas emissions across its operations by 100 per cent by

Adani Green starts generating power at Khavda renewable power plant

Adani Green said once the Khavda plant is fully operational, it will be able to generate 81 billion units of clean electricity

PM Surya Ghar: Muft Bijli Yojana launched to boost solar power adoption

The prime minister has allocated more than Rs 75,000 crore in investment, which aims to bring up to 300 units of free electricity per month to 10 million households