Solar Energy

Oil's lost decade is about to be repeated amid rising clean energy bets

Even looking forward to 2026, crude output is likely to remain below the production peak the world hit in 2018

SG Mart enters renewables with solar brand, wins ₹266 crore orders

SG Mart diversifies into renewables with its new brand APL Apollo SunSteel, securing ₹266 crore in orders for solar module mounting structures from leading IPPs

Solar Federation seeks extension of inter-state transmission fee waiver

The National Solar Energy Federation of India (NSEFI) has urged the government to protect the viability of numerous renewable energy projects facing risks from delays beyond the control of developers, according to a person familiar with the matter. In the letter to the advisor to the Prime Minister's Office, the federation urged that the Inter-State Transmission System (ISTS) charges waiver be extended to projects getting commissioned by June 2026 and meeting a specific criterion relating to connectivity application status, financial closure, land acquisition beyond the 50 per cent threshold, and if orders for equipment have been made. The federation, representing a broad spectrum of stakeholders across the solar value chain, stated that while the ISTS waiver, originally announced by the Ministry of Power (MoP), has played a "pivotal role in making renewable power more competitive", its delayed implementation by the Central Electricity Regulatory Commission (CERC) in February 2023 ..

Waaree secures $176 million deal to supply 586 MW solar modules in US

Waaree Energies on Friday said it has signed a USD 176 million agreement with a US-based independent power producer to supply 586 MW solar modules. The modules will be manufactured at Waaree Solar Americas' facility in Brookshire, Texas, and are scheduled for delivery during FY 202627 across four projects, a company statement said. "This agreement reflects Waaree's unwavering commitment to building a resilient, robust, and technologically advanced clean energy supply chain in the US," said Sunil Rathi, President, Waaree Solar Americas. In January, Mumbai-headquartered Waaree Energies announced starting commercial production of solar modules at its manufacturing facility in the US. Waaree Energies is India's leading renewable energy company having an installed capacity of 15 GW for solar PV modules globally (including 1.3 GW of Indosolar and 1.6 GW in Texas, USA). The company also has 1.4 GW of cell manufacturing facility with an expansion capacity of 5.4 GW.

Insolation Energy net profit more than doubles to ₹126 cr in FY25

Leading solar module manufacturer Insolation Energy Ltd on Tuesday reported over two-fold jump in net profit to Rs 126.19 crore in the fiscal year ended March 31, 2025 on the back of rise in revenues. In the financial year ended March 31, 2024 the company had posted a net profit of Rs 55.47 crore. The company's consolidated turnover stood at Rs 1,333.76 crore, registering an 80.93 per cent year-on-year growth compared to Rs 737.17 crore in FY 2023-24. The EBITDA (earnings before interest, taxes, depreciation, and amortisation) of the company more than doubled to Rs 170.32 crore, while gross margins rose 86.44 per cent to Rs 231.79 crore, a company official said. Chairman Manish Gupta attributed the strong performance to the company's focus on innovation, scale, and quality. "We have expanded from an 80 MW PV module capacity in 2017 to an expected 4 GW by July 2025," Gupta told reporters here. Company's Managing Director Vikas Jain said that the company plans to scale further, ...

Delhi Cabinet approves Rs 30,000 subsidy for 3 kW solar panels on rooftops

Delhi cabinet on Tuesday approved a subsidy of Rs 30,000 on the installation of 3 kW rooftop solar panels, Environment Minister Manjinder Singh Sirsa said. The minister said the cabinet also approved the procurement of litter machines, anti-smog guns, mechanical road sweepers and water sprinklers as part of its pollution control measures. Sirsa said, "Now the cabinet meeting chaired by Chief Minister Rekha Gupta has approved a subsidy of Rs 10,000 per kilowatt more which comes around to Rs 30,000." The central government provides a subsidy of Rs 78,000 for installing rooftop solar panels under PM Surya Ghar Yojana. Sirsa also said that the government will tie up with banks so that people can get easy loans on installation charges for solar panels. People will not have to spend any money from their packet and will save Rs 4,200 per month, he added.

India imposes 5-year anti-dumping duty on Chinese, Vietnamese solar glass

India has imposed an anti-dumping duty of up to USD 664 per tonne on imports of a certain type of solar glass from China and Vietnam for five years in a bid to protect domestic manufacturers from cheap imports from these two countries, according to a government notification. The duty was imposed after the commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) recommended for the same after conducting a detailed probe on the dumping of 'Textured Toughened (Tempered) Coated and Uncoated Glass' from China and Vietnam. Commonly used in solar panels, these glasses are also referred to as Solar Glass, Low Iron Solar Glass, Solar PV Glass, High Transmission Photovoltaic Glass, and Tempered Low Iron Patterned Solar Glass. It has concluded in its findings that there is a substantial increase in the volume of dumped imports of the glass from these countries in absolute and relative terms. "The anti-dumping duty imposed under this notification shall be effective f

Reliance Power to invest Rs 10K cr for Asia's largest solar-BESS unit

Reliance Power's NU Suntech secures SECI contract to develop Asia's largest single-site solar-plus-battery project, with Rs 10,000 crore investment and 930 MW capacity

FinMin prods banks to speed up rollout of Pradhan Mantri Surya Ghar scheme

PMSGMBY is a solar energy scheme for both rural and urban households

Vikram Solar bags 150 MW solar module supply deal from Maharashtra Power Co

Vikram Solar on Wednesday said it has secured a 150 MW solar module supply order from Maharashtra State Power Generation Co Ltd. The leading solar PV module manufacturer in a statement said it has bagged an order for a major renewable power project of 150 MW from Maharashtra State Power Generation Co Ltd (MAHAGENCO), a government of Maharashtra undertaking. The company will provide 150 MW of advanced N-Type Modules. The modules will be supplied in the districts of Jalgaon and Solapur in the state of Maharashtra to MAHAGENCO under Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) project 2.0. The order reinforces the Kolkata-headquartered company's standing as one of the premier names in India's Approved List of Models and Manufacturers (ALMM) list, the statement said. "We are proud to have secured this order, which marks another step forward in our mission to power a greener India through high-efficiency solar solutions. The trust placed in Vikram Solar is a reflection of our commitm

Burnt by BluSmart: Gensol meltdown puts solar energy solutions at risk

Startups supported by venture capitalists and private equity investors accept large cash burns and running losses, so long as there's high growth rates

Rajasthan govt sets sights to become energy surplus, says minister

According to the plan, the state government aims to produce 30 gigawatts (Gw) of solar power by the end of the financial year 2025-26 (FY25)

India targets 160 GW solar module capacity by 2030: NSEFI CEO

This leap would represent a doubling of the current module capacity of approximately 80 GW in 2025 and a significant rise in cell production capacity - set to increase eightfold

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

Mandating storage for rooftop solar may backfire without clarity

Solar's daytime-only output is well-known, and using storage to get power during other periods, especially the evening peak, seems like an obvious solution

We are building the complete solar supply chain: Indosol CMD Reddy

He said the company plans to build an ancillary supply chain, claiming to be the first in the country to do so

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

Study projects loss in India's solar power potential due to air pollution

India's capacity to generate solar power could fall by 600-800 gigawatt-hour before mid-century due to air pollution and climate change, a study has projected. The researchers from the Indian Institute of Technology (IIT), Delhi, found that northern, western and southern power grids -- where most solar parks are currently located -- will experience significant challenges in maintaining performance due to climate change. Pollutants in the air can absorb and scatter sunlight, thereby lowering the intensity of the sun's radiation reaching the earth's surface. Further, generating solar power relies heavily on weather and climate, and is, therefore, vulnerable to the effects of climate change. The findings, published in the journal Environmental Research Letters, "highlight the need for combined climate and pollution mitigation efforts to boost India's photovoltaic potential and secure a sustainable, resilient energy future". Despite being endowed with abundant solar resources -- India

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

All 17 municipal corporations to become solar cities: UP CM Yogi Adityanath

CM Yogi highlighted the state government's efforts toward environmental conservation and sustainable urban development