Page 3 - Renewable Power

India adds 13.5 GW of renewable capacity in FY22, 12% higher than last yr

India added 13.5 GW of renewable energy capacity in 2021-22, which is 128 per cent higher than that in 2020-21, a statement said on Thursday.

Japan's Mitsui to take 49% stake in ReNew Power's power project

Japanese conglomerate Mitsui has agreed to take a 49 per cent stake in ReNew Power's round-the-clock renewable power project, the Indian firm said on Wednesday. ReNew signed a 400 MW Round-The-Clock (RTC) PPA last year to supply electricity to the Solar Energy Corporation of India (SECI). For the 400 MW PPA (Power Purchase Agreement), the company will install 1,300 MW of renewable energy capacity and up to 100 MWh of battery storage. "ReNew Power has finalised a partnership with Mitsui & Co Ltd, a leading global general trading and investment firm. "The partnership will see Mitsui invest in the RTC renewable energy project being developed by ReNew," the company said in a statement. It did not give the financial details about the deal. The RTC project will consist of three newly-built wind farms and one solar plus battery storage farm (1,300 MW in total plus up to 100 MWh battery storage) across the states of Rajasthan, Karnataka, and Maharashtra, and provide 400 MW of electricity

ReNew Power raises $400 million from global debt investors

The money will be used to refinance existing high-cost debt and fund capital expenditure

India falling behind on near-term renewables goal, says ReNew Energy Global

India recently reached 100 Gw of renewable power capacity

Siemens inks pact to acquire 26% equity in Sunsole Renewables

Siemens Ltd on Friday said it has inked an agreement for subscription of 26 per cent paid up equity share capital of Sunsole Renewables for Rs 1.6 crore

Oil will be world's No. 1 energy source for decades, says OPEC

OPEC says that more electric vehicles on the road and the push for alternative and renewable energy will indeed usher in an era of declining demand for oil in rich countries

Hidden costs of renewable power in compulsory purchases of RE for discoms

The challenge at this stage of renewable power induction is to see whether the low tariffs are truly reflective of the cost that state discoms additionally pay for thermal power they are not using

Financing India's green future

'Green investments must therefore compete with brown (non-green) investments to find large markets and generate attractive returns', says the author

India's top explorer ONGC looks at acquisitions for 10GW renewable aim

India has set up ambitious target to raise its renewable capacity to 450 GWs by 2030 from the current 100 GWs to cut dependence on thermal power

India shines in energy transition with strong renewable path

Ministry of New and Renewable Energy announced that total installed renewable energy capacity in India, excluding large hydropower, has crossed milestone of 100 GM about 26 pc of total capacity

Torrent Power to acquire 50 MW solar plant from Lightsource India

Torrent Power on Friday said it has inked an agreement with Lightsource India Ltd and Lightsource Renewable Energy (India) Ltd for acquisition of a 50 MW solar plant.

Pandemic-impacted renewable energy projects can apply for extension again

Frequent delays to hurt the 175 GW RE capacity target of next year

India to levy 40% duty on solar equipment imports from next year

India is planning to expand its renewable power capacity fivefold to 450 gigawatts by 2030

Continuum Wind Energy to issue maiden green bond worth $500-600 mn

Continuum Wind Energy Ltd was founded in 2012 and is focused on establishing an independent renewable power producer business in India

India's aim of doubling renewable power by 2022 gets foreign backers' boost

For investments to rise more, though, the country may need to fix its ailing power distribution sector

TOTAL France to acquire 20% stake in Adani Green Energy for $2.5 bn

As part of the current deal, TOTAL will pick up a 50 per cent stake in a 2.35 GW portfolio of operating solar assets owned by AGEL and a 20 per cent stake in AGEL for a global investment of $2.5 bn

Optimism on renewables

India will need increased effort to meet the targets

Odisha nixes Adani plan, invokes RoFR to buy AES stake in power project

State govt to pay Rs 1,000 cr for 49% holding in complete reversal of privatisation drive; It already owns 51% in OPGC which owns and runs a 1,740 Mw coal-fired plant

Pension funds, PE may invest in renewable projects, roads after lockdown

Even as the lockdown has affected mergers and acquisitions (M&A) in various businesses, companies and deal consultants are certain that renewable power assets would be the first on the sale table.

India may see renewable, roads mega sale once the lockdown is lifted

Renewable projects have been unable to find buyers and large scale investors lately