Page 8 - Renewable Energy

ReNew kicks off work for Rs 22K cr green energy complex in Andhra Pradesh

ReNew reenters Andhra Pradesh with India's biggest single-site renewable energy project, backing the state's clean energy push with a Rs 22,000 crore commitment

Alpex Solar bags ₹1,068.84 cr orders, key tie-up with Coal India arm

Greater Noida-based Alpex Solar on Thursday said it has secured orders worth Rs 1,068.84 crore from various companies, including Coal India arm Central Mine Planning and Design Institute Ltd and Haryana Renewable Energy Development Agency. Alpex Solar, in consortium with NVNR Power & Infra Ltd, has secured a Rs 349.99 crore order from Central Mine Planning and Design Institute (CMPDIL), a subsidiary of Coal India, the company said in a statement. The project encompasses design, engineering, procurement, supply, construction, fabrication, erection, installation, testing, and commissioning of a grid-connected ground-mounted solar power plant at Nandan Washery, Kanhan area, under Western Coalfields. Alpex Solar holds a 70 per cent stake in the consortium. Under the project, the consortium will also construct a 32kV double-circuit transmission line from the main control station to the feeding substation, along with requisite bay extension works. Additionally, the company recently won

REC to provide Rs 2.5 trn finance for renewable energy projects till 2030

State-owned non-banking finance firm REC Ltd will increase its exposure to renewable energy projects by about Rs 2.5 lakh crore in next six years to aid India's target of having 500 GW of non-fossil fuel energy by 2030. REC currently has an exposure of about Rs 53,000 crore in renewable energy projects with a total loan book of Rs 5.67 lakh crore as on March 31, 2025. The company has planned to achieve a loan book of Rs 10 lakh crore including Rs 3 lakh crore exposure in renewable energy project by 2030. Renewable energy is a key area where the company will focus in the coming six years in view of nation's ambitious target of having 500 GW renewable energy by 2030. Talking to PTI, REC Chairman and Managing Director Jitendra Srivastava said, "Currently, our loan book stands at around 5.67 lakh crore. and we are trying to aim for a loan book of 10 lakh crore by 2030. Out of this, we would like to see the renewable sector touching around 3 lakh crore, which is currently around Rs 52,0

CIL to set up $3 bn worth clean energy projects to boost renewable heft

AM Green, in which the founders of India's Greenko Group have large stakes, targets to produce 5 million tons per annum (MTPA) of green ammonia by 2030

Reliance Power allots shares worth Rs 348 cr to Reliance Infra, Basera

Reliance Power has allotted 10.55 crore shares to Reliance Infra and Basera Home Finance after early warrant conversion, boosting its clean energy expansion

India may save $66 billion by phasing out thermal coal imports by 2029

Boosting renewable energy capacity could help India eliminate thermal coal imports and save $66 billion between 2025 and 2029

TaMo, Tata Power Renewable Energy partner to develop wind-solar project

Tata Motors on Monday said it has inked a power purchase agreement with Tata Power Renewable Energy to co-develop a 131 MW wind-solar hybrid renewable energy project. Set to generate around 300 million units of clean electricity annually, the project is expected to offset over 2 lakh tons of CO2 emissions each year, the Mumbai-based auto major said in a statement. The integrated wind-solar hybrid solution will provide a reliable supply of green, cost-effective energy exclusively to Tata Motors' six manufacturing facilities in Maharashtra and Gujarat, supporting the production of both commercial and passenger vehicles, it added. "This project reinforces our commitment to integrate renewable energy into our operations," Tata Motors Vice President -- Operations, Commercial Vehicles Vishal Badshah said. With this PPA, the company's plants in Maharashtra and Gujarat will take a significant leap towards green manufacturing, complementing India's green transition, Tata Motors Passenger ..

Zelestra India appoints Prashant Kumar as chief financial officer

Renewable energy solution provider Zelestra India on Thursday announced the appointment of Prashant Kumar as Chief Financial Officer (CFO) with immediate effect. Kumar will report to Sajay K V, the CEO, and will oversee all financial operations for India with a focus on strengthening financial governance, driving strategic planning, and optimizing capital efficiency to support business expansion, the company said in a statement. The appointment comes as Zelestra continues to strengthen its market position, the CEO said. "The company is growing every day. We now have a pipeline of wind, solar and BESS technology of over 5 GW in total, with three major projects in construction this year. This accelerated growth means we need a top senior leadership team to ensure we rise to all of the challenges ahead. Therefore we welcome Prashant to Zelestra India team," he said. Kumar has a post-graduate degree in Management from XIMB (Xavier Institute of Management, Bhubaneswar) and more than two

Navigating RE glut: Thermal power major NTPC to buy unsold green energy

To absorb power from projects that failed to find any state to sign power purchase agreements

Waaree Renewable Tech results: Net profit jumps 83% to Rs 94 cr in Mar qtr

Waaree Renewable Technologies Ltd (WRTL) on Wednesday posted about 83 per cent rise in its consolidated net profit to Rs 93.76 crore in the March quarter on account of higher income. It had reported a net profit of Rs 51.31 crore in the January-March period of the preceding 2023-24, the company said in an exchange filing. The company's total income rose to Rs 481.43 crore from Rs 275.35 crore in the same quarter a year ago. Its expenses stood at Rs 356.25 crore against Rs 203.27 crore in the year-ago quarter. The company's board has also approved the appointment of Sudhir Arya as an Additional Director in the category of (Non-Executive, Independent Director) of the company with effect from Wednesday, April 16, 2025. It has also approved the changed designation of Sunil Rathi from Non-Executive Director to Executive Director on terms and conditions as may be decided by Board with the effect from Wednesday, April 16, 2025. Manmohan Sharma has been appointed as the Chief Financial .

Uber's rumoured tie-up with BluSmart to achieve green goals under a cloud

Given both customer and driver dissatisfaction with Uber, partnering with BluSmart's EV fleet would augment both Uber's EV cab strength, as well as help it on its mission to zero-emission by 2040

Ireda gains 6% as March quarter profit jumps 49%, stock surges 5.57%

Shares of IREDA on Wednesday jumped nearly 6 per cent after the state-owned firm reported a 49 per cent rise in standalone profit after tax in the quarter ended March 2025. The stock surged 5.57 per cent to Rs 176.40 apiece on the BSE. During the day, it climbed 7.42 per cent to Rs 179.50. On the NSE, the stock jumped 5.64 per cent to Rs 176.41 each. IREDA (Indian Renewable Energy Development Agency Ltd) on Tuesday reported a 49 per cent rise in standalone profit after tax to Rs 502 crore in the quarter ended March 31, 2025. Its revenue from operations rose 37 per cent year-on-year (YoY) to Rs 1,904 crore in the fourth quarter, the company said in a statement. For FY25, the company said its profit after tax (PAT) was the highest ever at Rs 1,699 crore, up 36 per cent compared to FY24. As of March, the company said its net worth was Rs 10,266 crore, up 20 per cent YoY. Meanwhile, capital markets regulator Sebi on Tuesday barred Gensol Engineering and promoters -- Anmol Singh Jagg

Ireda Q4 FY25 results: Net profit jumps 49% to Rs 502 cr, revenue up 37%

According to a company statement released on Tuesday, revenue from operations during the January-March period rose by 37 per cent year-on-year to Rs 1,904 crore

BC Jindal Group enters RE component space, to invest ₹15K cr by 2030

BC Jindal Group on Tuesday announced its foray into renewable energy component manufacturing space with a plan to invest Rs 15,000 crore by 2030. In a move to expand its business portfolio, the group will diversify and commence manufacturing of key components, including solar cells and modules, storage battery cells, and assembly and solar glass, the company said in a statement. BC Jindal Group, India's leading conglomerate with over Rs 18,000 crore annual turnover, has announced its strategic entry into component manufacturing for renewable energy power generation, the statement said. The group aims to achieve capacity additions with investments to the tune of Rs 15,000 crore by 2030, it stated. In the first phase of the project, the group aims to deploy an investment of Rs 4,000 crore to kickstart its renewable energy component manufacturing venture. This phase will include setting up 2 GW of solar cell manufacturing/ solar module production, 4 GWh of battery storage capacity, a

Tata Power Renewable Energy, NTPC join hands to set up 200 MW green project

Tata Power Renewable Energy Ltd (TPREL) has signed a power purchase agreement (PPA) with NTPC Ltd to develop a 200 MW clean power project. "With this project, its total renewable utility capacity has reached 10.9 GW," TPREL, a Tata Power subsidiary, said in a statement on Monday. The Firm and Dispatchable Renewable Energy (FDRE) project, spread across multiple locations in India, is set to be completed within 24 months and is expected to generate approximately 1,300 million units (MUs) of electricity annually, TPREL said. The project will mitigate over 1 million tonnes of carbon dioxide emissions per year. The project was won by TPREL based on competitive bidding and would consist of solar, wind and BESS (battery energy storage system) technologies. A key feature of this initiative is the commitment to a 4-hour peak power supply, ensuring at least 90 per cent availability during peak demand hours to support the growing energy needs of distribution companies. This collaboration ...

JSW Neo Energy acquires 4.7 GW green energy platform from O2 Power

JSW Energy on Wednesday said its arm JSW Neo Energy has completed the acquisition of 4.7 GW renewable energy platform from O2 Power for an enterprise value of Rs 12,468 crore. The total installed capacity now stands at 12.2 GW, with 54 per cent from renewable energy, the company said, adding that it is a bold step towards JSW Energy's 20 GW vision before 2030. "We are pleased to announce the completion of JSW Energy's largest acquisition to date of 4.7 GW of O2 Power. This acquisition brings high-quality assets across resource-rich states, along with the management team and employees having a proven track record in planning and execution," Sharad Mahendra, Joint Managing Director and CEO of JSW Energy said in a statement. "This strategic acquisition brings us closer to achieving our 20 GW capacity target significantly before 2030," Mahendra added. O2 Power also brings additional connectivity for 900 MW, which will facilitate our future growth, Mahendra noted. In 2020, O2 Power was

Sembcorp to form JV with BPCL for renewable energy, green hydrogen

Sembcorp will form a 50:50 joint venture with Bharat Petroleum Corporation Ltd (BPCL) to develop renewable energy and green hydrogen projects across India. Sembcorp Green Hydrogen India Private Limited, a wholly-owned subsidiary of Sembcorp Industries (Sembcorp), and BPCL on Tuesday entered into a joint venture (JV) agreement to explore renewable energy and green hydrogen projects across India, the firms said in a statement. This strategic partnership aims to support India's energy transition and development goals. The collaboration will focus on the production, operation, and sale of renewable energy and green hydrogen, along with its derivatives. "The JV will also consider projects in green ammonia production and bunkering, emissions reduction for port operations and other emerging green fuel technologies," it said. "The potential projects will leverage Sembcorp's renewables experience and BPCL's expertise in the petroleum sector and infrastructure." Vipul Tuli, President & CEO,

Solex Energy FY25 revenue rises 80% to Rs 665 cr in FY25, aims expansion

Solex Energy on Thursday reported a revenue of Rs 665 crore for FY25, marking an increase of over 80 per cent over the preceding fiscal. The company had garnered a revenue of Rs 368 crore in the 2023-24 financial year, it said in a statement. Approximately 22 per cent of the company's revenue comes from the EPC business, while the remaining portion is generated from the module business, the company said. It has reported a revenue of 665 crore, which is 80 per cent higher year-on-year (y-o-y), the company said. The company's Chairman & Managing Director (CMD) Chetan Shah said, "As we approach our 30th year in the industry, we remain dedicated to accelerating India's clean energy transition and expanding our global footprint." The company is bullish on the growing renewable energy market in India and has already announced a multi-crore investment plan under its vision 2030 strategy, he said. Gujarat-based Solex Energy has plans to increase its module manufacturing capacity from 1.5

JSW Energy installed generation capacity touches 10.9 GW in FY25

The installed generation capacity at the end of FY25 stands at 10.9 GW, significantly surpassing the 10 GW capacity target set for FY25

How will country progress if every project is opposed: SC slams NGO

The Supreme Court on Tuesday pulled up an NGO for opposing a renewable energy project at the Jayakwadi Dam in Maharashtra, which is declared a bird sanctuary and an eco-sensitive zone, asking how would the country progress if every project was resisted. A bench of Justices Surya Kant and N Kotiswar Singh also raised over the questions the bonafide of NGO "Kahar Samaj Panch Committee" and asked, "Who has planted you and funded you? What is your past experience in environment protection?" The bench dismissed the NGO's petition challenging the September 9 2024 decision of the National Green Tribunal rejecting its plea and observed the green panel had rightly appreciated the material. The top court found no ground to interfere with the NGT order. "You are not allowing a single project to work. How will the country progress, if every project is opposed and resisted upon? Even with a solar power project, you have a problem," the bench added. The NGO's counsel said the area was an ...