Page 23 - Renewable Energy

Over Rs 3 trn needed each year to reach 440 GW RE capacity by 2030: ICRA

An investment of over Rs 3 lakh crore is needed every year in the renewable energy sector to take India's installed green capacity to 440 gigawatt, Icra experts said on Friday. "We expect India to have 440 gigawatt installed capacity of renewable energy by 2030," Vikram V, Vice President & Co-Group Head - Corporate Ratings, ICRA Ltd said at a media roundtable. The estimated capacity would require incremental investment of at least Rs 3 lakh crore every year over the next five to six years, Girish Kumar Kadam, Group Head Corporate Sector Ratings at ICRA Ltd. He further said to meet the renewable purchase obligation (RPO) target of 43 per cent by 2030, the renewable energy capacity should more than double to 440 GW from the current level of 200 GW. The government's target is to have 500 gigawatt of installed renewable energy capacity by 2030. Sharing his outlook for the RE sector, Kadam said India has made significant progress in renewable energy capacity addition with a strong ...

SECI plans to launch IPO in 1 or 2 yrs to expand renewable energy capacity

State-owned Solar Energy Corporation of India (SECI) will go public to raise funds in next one or two year in order to expand renewable energy capacity in the country, said a top company official. The remark comes at a time when India aims to have 500 GW of renewable energy capacity by 2030. The 500 GW target is in the pipeline and it will be done, said SECI Chairman and Managing Director R P Gupta. "But we have to think beyond 2030. The power demand will be 2,000 GW by 2047," he said at a press conference here. India has 207 GW of renewable energy capacity and still needs to add at least 50 GW per annum every year till 2030 to achieve 500 GW target. "We would like to go public in next one or two years," Gupta said. The country's peak power demand has touched an all-time high of around 250 GW in May this year. SECI's listing on bourses is also important because it is the nodal agency of the Ministry of New & Renewable Energy for tendering renewable energy projects. Gupta said t

SJVN generates 8,489 MU of power as green energy in FY24: CMD Sharma

State-owned SJVN generated 8,489 million units (MUs) of green energy from its operational hydro, solar and wind power stations in 2023-24, a top company official said. SJVN CMD Sushil Sharma made the remarks at the company's 36th Annual General Meeting (AGM) for the 2023-24 financial year. "Despite facing challenging hydrological conditions due to climate change, SJVN demonstrated resilience in its operations. In FY24, the company generated 8,489 MUs from its operational hydro, solar and wind power stations," a company statement quoted Sharma as saying. The power stations set new records, including highest-ever daily generation of 39.570 million units (MU) and 10.971 MU by 1,500 MW NJHPS (Nathpa Jhakri Hydro Power Station) and 412 MW Rampur HPS, respectively, in July 2023. The highest-ever monthly generation of 1,590.072 MU was recorded from all operational projects in August 2023 and Rampur HPS also achieved the highest-ever monthly generation of 337.165 MU during the month. Duri

Tata Power to scale up internal renewable energy component supply chain

Plans to manufacture key parts rather than buying them

Tata Power Renewable Energy bags 400 MW wind-solar project from MSEDCL

Tata Power Renewable Energy on Wednesday said it has secured a 400 MW wind-solar hybrid project from Maharashtra State Electricity Distribution Company Ltd (MSEDCL). Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, has successfully secured a Letter of Award (LoA) from MSEDCL, a wholly-owned entity under the Maharashtra government, for the development of a 400 MW wind-solar hybrid project in Maharashtra, a statement said. The company said that the LoA includes an original contracted capacity of 200 MW, along with a greenshoe option for an additional contracted capacity of 200 MW. This would be the largest renewable energy project in Maharashtra till date for TPREL. The LoA was issued through a competitive bidding process conducted via an electronically-based reverse auction portal. The project is expected to be completed within 24 months from the signing of the Power Purchase Agreement (PPA) between TPREL & MSEDCL and will play a crucial role in cutting carbon ..

Will talk to states to iron out challenges in RE sector: Pralhad Joshi

He said through his outreach, he would also amplify the two flagship schemes of MNRE - PM Suryaghar Yojana and PM-KUSUM - which require support of State governments' machinery

Infra lender REC signs renewable energy agreements worth $13.4 billion

REC is targetting to take its renewables loan book to over Rs 3 trillion by 2030, expanding the share of renewables to 30 per cent from 8 per cent currently

Tata Power to invest up to $9 bn to expand renewable energy capacity

Tata Power, which currently has 5 GW renewable energy capacity in large projects, will add another 5 GW capacity in the next one to two years and expand that to more than 20 GW by 2030

Avaada Group plans to invest Rs 5,000 cr in Madhya Pradesh's energy sector

Avaada Group focuses on the development of large-scale projects for solar modules, renewable energy production, green hydrogen

PMEA Solar submits papers to Sebi for Rs 600 cr IPO; 11.2 mn shares on sale

PMEA Solar IPO: The funds raised through the fresh issue will be allocated towards capital expenditure and debt repayment

Banks, FIs to invest Rs 32.5 trillion in renewable energy by 2030: Centre

RE project developers commit 570 GW of capacity addition

4th RE-Invest summit: 100-day work shows our priorities, says PM Modi

India best bet for 21st century, its solar revolution a golden chapter

PM Modi inaugurates 4th Global Renewable Energy Investor's Meet in Gandhinagar

Prime Minister Narendra Modi inaugurated 4th Global Renewable Energy Investor's Meet (RE-INVEST) 2024 in Gujarat's Gandhinagar district on Monday.

RPower secures 500 MW storage contract marking entry into renewable energy

Other bidders in the auction included Avaada Energy, ACME Cleantech, Gensol, and Indigrid, with the highest quoted tariff reaching Rs 4.9 lakh per MW per month

Torrent Power commits Rs 64,000 crore investment for green projects

Torrent Power on Monday pledged Rs 64,000 crore investment for green or renewable energy projects having employment potential for 26,000 people. Torrent Power Ltd, the integrated power utility of diversified Torrent Group, has reaffirmed its commitment towards green and sustainable future as it submitted two 'Shapath Patras' to the Union Ministry of New and Renewable Energy at the 4th Edition of RE-Invest at Gandhinagar on Monday, a company statement said. RE-INVEST is being organised by the Ministry of New and Renewable Energy in partnership with CII. According to the statement, the company has submitted a Shapath Patra' to achieve 10 Gigawatt (GW) of installed Renewable Energy (RE) capacity by 2030, with an investment of Rs 57,000 crore. This investment is expected to generate direct and indirect employment for around 25,000 people. As part of these commitments, Torrent Power on Monday signed a Memorandum of Understanding (MoU) with the Gujarat government for execution of a 5 GW

Sumitomo to invest $710 million to build renewable energy projects in India

Sumitomo to invest JPY 100 billion to build renewable energy projects in India

Govt prioritising charging infra for e-mobility growth: HD Kumaraswamy

Kumaraswamy urged the industry to collaborate and put forth dedicated efforts to help India achieve its sustainability goals while staying on track for growth

Scaling RE beyond 1,500 GW to face significant challenges, says study

India needs to install around 7,000 gigawatts (GW) of renewable energy capacity to achieve net-zero emissions by 2070 but deployment beyond 1,500 GW could face critical challenges, including climate risks, high land prices, land conflicts, and population density, according to a new study. The study by independent think tank Council on Energy, Environment and Water (CEEW) is the first of its kind to map India's renewable energy and green hydrogen potential by analysing the entire country's landmass and applying real-world constraints. India has a renewable energy (RE) potential of over 24,000 GW and around 7,000 GW of installed capacity is required to achieve net-zero emissions by 2070. The fast-developing South Asian nation currently has an installed RE capacity of 150 GW, and the study says that the constraints are relatively manageable up to 1,500 GW. Arunabha Ghosh, the CEO of CEEW, said, While our RE potential is vast, the road to net zero is fraught with challenges. From land

Circularity of critical minerals for India's clean energy transition

The clean energy sector offers significant opportunities for the Indian economy

Need Rs 30 trn investment for 500 GW renewables by 2030: Minister Joshi

Union New & Renewable Energy Minister Pralhad Joshi on Monday said as much as Rs 30 lakh crore is required to meet the target of 500 GW by 2030. He also announced that Prime Minister Narendra Modi will inaugurate the 4th RE-INVEST 2024, a global summit for renewables. The fourth edition of the Global Renewable Energy Investors Meet & Expo(RE-INVEST) 2024 is scheduled from September 16 to 18 at Mahatma Mandir Convention & Exhibition Centre in Gandhinagar, Joshi told reporters in a curtain raiser press conference here. He said that India requires Rs 30 lakh crore investment to meet the ambitious target of having 500 GW of renewable energy by 2030. Earlier three RE-INVEST conferences were organised, including one in virtual mode and two in Delhi, he added. This is the first RE-INVEST to be held in Gujarat. "We thought that Gujarat is the right place to organise the conference to achieve the 500 GW renewable energy target by 2030," he said, citing the example of Vibrant ...