Page 9 - Renewable Energy

Ireda reports 27% rise in loan sanctions in FY25 to Rs 47,453 crore

State-owned IREDA on Monday reported a 27 per cent year-on-year rise in loan sanctions to Rs 47,453 crore in 2024-25. It had sanctioned loans worth Rs 37,354 crore in the previous year, Indian Renewable Energy Development Agency Limited (Ireda) said in a statement. Loan disbursements rose 20 per cent to Rs 30,168 crore from Rs 25,089 crore in 2023-24, as per the provisional data shared by the company. The outstanding loan book also expanded 28 per cent to reach Rs 76,250 crore as of March 31, 2025, up from Rs 59,698 crore in the previous year. IREDA CMD Pradip Kumar Das said, "Our consistent growth in loan sanctions, disbursements, and loan book reflects our strong dedication to financing renewable energy projects. We remain committed to supporting India's clean energy transition through innovative and accessible financing solutions." IREDA is a non-banking financial institution under the Ministry of New and Renewable Energy.

India's solar PV module capacity to reach 125 GW by 2030: Pralhad Joshi

India's solar PV module manufacturing capacity will increase to 125 gigawatt (GW) by 2030 from the current 80 GW, and its installed solar cell manufacturing capacity will soon touch 40 GW from 25 GW at present, Union Minister of New and Renewable Energy Pralhad Joshi said in Gujarat's Navsari district on Saturday. In 2014, solar PV module manufacturing was nearly absent in the country, he said after inaugurating a state-of-the-art 5.4 GW solar cell manufacturing facility of Waaree Energies Limited at Degam here. "Today, companies like Waaree are producing 80 GW solar PV modules. By 2030, our total solar PV manufacturing capacity will be 125 GW. Similarly, solar cell manufacturing was nil in 2014. But today we are manufacturing 25 GW, and very soon we will reach a target of 40 GW. We are moving ahead with the thinking of integrated solar, right from polysilicon to module, to be manufactured in India," he said. India has emerged as the world's third largest producer of renewable ...

Ireda secures 26 billion Japanese Yen ECB facility from SBI, Tokyo

State-owned IREDA on Friday said it has secured a 26 billion Japanese Yen External Commercial Borrowing facility from SBI's Tokyo Branch, including a green shoe option of 10 billion Japanese Yen. This five-year unsecured facility is set to strengthen IREDA's global market presence, the company said in a statement. "IREDA has signed a facility agreement today for raising external Commercial Borrowing (ECB) from SBI, Tokyo Branch for JPY 26 billion, including a green shoe option of JPY 10 billion. "The landed cost (after hedging) is expected to be below 7 per cent, making it more cost-effective than similar-tenure loans in the domestic market," it said. The company's Chairman & Managing Director Pradip Kumar Das said the facility will enable the company to diversify its resource base and optimize costs, enhancing our lending operations to support India's renewable energy sector. The transaction reflects the strong confidence of global investors in IREDA's financial stability and ...

ONGC NTPC Green completes acquisition of Ayana for ₹6,248.5 crore

ONGC NTPC Green Pvt Ltd (ONGPL) has completed acquisition of 100 per cent equity stake in Ayana Renewable Power for Rs 6,248.50 crore. ONGPL is a 50:50 joint venture of NTPC Green Energy Ltd (NGEL) and ONGC Green Ltd. The acquisition was completed on March 27 for a cash consideration of Rs 6,248.50 crore at Rs 23.22 per share, NGEL said in an exchange filing. The Competition Commission of India had given its approval for the acquisition on March 11, 2025. NGEL contributed 50 per cent, that is Rs 3,124.25 crore to the total acquisition cost, it said. Through this acquisition, NGEL aims to expand its capacity in the renewable energy sector to meet its target of 60 GW renewable capacity by 2032. Ayana, a leading renewable energy platform, has capacity of approximately 4,112 MW (2,123 MW operational and 1,989 MW under-construction), strategically located across resource-rich states. Its portfolio is backed by high-credit-rated offtakers such as SECI, NTPC, Gujarat Urja Vikas Nigam L

Waaree Renewable Tech secures new solar project worth Rs 232 crore

Waaree Renewable Technologies Ltd on Wednesday said it has secured a new solar project worth Rs 232.30 crore from a domestic entity. The 170 MW solar power project will be executed on a turnkey basis, covering comprehensive Engineering, Procurement, and Construction (EPC) services, along with long-term Operation & Maintenance (O&M), Waaree Renewable Technologies Ltd (WRTL) said in a statement. WRTL has received a Letter of Award (LOA) for the execution of a ground-mounted solar power project with an installed capacity of 170 MW AC/255 MW DC, it said. The project will contribute significantly to carbon offset efforts, reducing an estimated 225,000 metric tonnes of CO2 emissions annually which is equivalent to removing nearly 50,000 fossil fuel-powered cars from the roads each year. WRTL is a subsidiary company of Waaree Group which has completed 10,000 solar projects with cumulative installation done for over 1.82 GW.

AMPIN Energy Transition secures $50 mn fund from Siemens Financial Services

Homegrown AMPIN Energy Transition (AMPIN) on Wednesday said it has secured USD 50 million (over Rs 428 crore) funding from Siemens AG's financing arm Siemens Financial Services. The funds will fuel the company's growth in both Commercial & Industrial (C&I), utility-scale renewable energy projects as well as its energy transition value chain business, AMPIN said in a statement. This marks AMPIN's third major investment transaction this financial year, bringing the total equity capital raised to USD 270 million this year. "This equity investment from Siemens reaffirms AMPIN's unique business model powering energy transition. It is now the only energy transition company in India to attract leading investors from Europe, North America and Asia," Pinaki Bhattacharyya, Founder, MD, and CEO of AMPIN Energy Transition, said. Headquartered in New Delhi, AMPIN Energy Transition is India's leading renewable energy transition company with a total portfolio of 5 GW spread across 22 states .

Slow tenders, weak export demand hit India's green hydrogen plans

Customer side hasn't come up as earlier envisaged

Ireda raises Rs 910 crore via Tier-II bonds at 7.74% coupon rate

State-owned IREDA on Tuesday said it has raised Rs 910 crore through issuance of bonds. The funds raised will enhance IREDA's Tier-II capital, increasing its net worth and capital-to-risk-weighted assets ratio (CRAR), IREDA said in a statement. IREDA has raised Rs 910.37 crore through the issuance of privately placed subordinated Tier-II bonds for a 10-year tenor at an annual coupon rate of 7.74 per cent, it said. "The successful raising of Tier-II capital reflects investors' strong confidence in IREDA's financial strength and strategic vision. "This will further empower us to accelerate green energy financing, aligning with the Government of India's target to achieve 500 GW of non-fossil fuel-based energy capacity by 2030," IREDA Chairman and Managing Director (CMD) Pradip Kumar Das said. Indian Renewable Energy Development Agency Ltd (IREDA) is a non-banking financial institution under the Ministry of New and Renewable Energy.

Jindal India Renewable Energy gets LoA for 300 MW solar project from NHPC

Jindal India Renewable Energy on Monday said it has secured a Letter of Acceptance for a 300 MW solar plus storage project from state-owned NHPC. The project is to be executed on a Build-Own-Operate (BOO) basis within 24 months from the signing of the Power Purchase Agreement (PPA), the company said in a statement. The project is part of NHPC's 1200 MW inter-state transmission system-connected solar power projects tender with 600 MW/1200 MW energy storage systems. An Energy Storage System (ESS) of 600 MW/1200 MW means 600 MW of battery energy can provide power backup for two hours, giving a total output of 1200 MW, it said. Jindal India Renewable Energy (JIRE) has bagged the 300 MW capacity at a tariff of Rs 3.09/kWh (kilowatt hour). NHPC will enter into an agreement with JIRE for a period of 25 years. The Navratna company will purchase solar power from JIRE and sell it to state utilities and others. JIRE is part of the BC Jindal Group which has over the period grown from a steel

Solar flare: How simple fixes can turn PMSGMBY into a game changer

With summers growing hotter, there is an urgent need for India to lower its dependence on thermal power

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