Page 5 - Solar Energy

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

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,

India adds record 25 GW of solar capacity in 2024, says Mercom report

Solar capacity addition more than doubled to 25.2 gigawatt (GW) in 2024 as developers raced to complete delayed projects, Mercom Capital said. The country added 8.3 GW of solar capacity during 2023, the US-based research firm said in its latest report. "Commissioning of a significant capacity of previously delayed projects drove capacity additions in 2024," Mercom India Solar Market Update report said. According to Mercom, large-scale solar projects (including solar open access) accounted for more than 87 per cent of the total capacity additions, while rooftop solar contributed nearly 13 per cent. Installations under the open access model comprised over 31 per cent of the large-scale solar capacity additions. Rajasthan, Gujarat, and Maharashtra led the large-scale solar installations in 2024, accounting for around 32 per cent, 27 per cent, and 8 per cent of the capacity additions, respectively. "India's solar sector saw record-breaking installations in 2024, but the numbers coul

Solar manufacturers seek duty protection on imported ingot, wafer

The Indian Solar Manufacturers Association (ISMA) has demanded imposition of safeguard duty on import of polysilicon, ingot and wafer to help protect the domestic solar manufacturing industry from dumping and boost local capabilities. Sunlight is converted into electricity through a process called photovoltaics (PV). This involves several key components working together to harness the energy from the sun. At the core are solar cells, which are made from silicon. These are grouped together and mounted on a solar panel or module which captures sunlight and converts it into direct current (DC) electricity. According to ISMA, India is already self-sufficient in module manufacturing, helped by duty protection measures. Also, significant cell capacities are under ramp-up and the country will be self-sufficient by FY27 in cell manufacturing. "Need of the hour is to shift focus towards capital and energy intensive upstream manufacturing which is currently dependent on China with heavy ...

Vikram Solar to set up 1 GWh solid-state battery plant, expand to 5 GWh

The integrated solid-state battery manufacturing facility plans to scale up to 5 GWh, reinforcing India's push for energy storage and self-reliance

Hindustan Power to invest Rs 620 cr in solar, battery projects in Assam

Hindustan Power has signed an agreement with the Assam government to invest Rs 620 crore to set up solar and battery storage projects. The investment will drive the development of a 100 MW solar power plant alongside a battery energy storage system, the company said in a statement on Monday. The company said it will invest Rs 500 crore for the solar plant and another Rs 120 crore for the battery storage facility. "Hindustan Power was the first company to develop a large solar power plant in Assam in 2016, and the company remains committed to driving the state's journey of growth in the new era of renewable energy," the company's chairman Ratul Puri said. Hindustan Power is an independent power producer with a global portfolio of renewable and transitional electricity generation assets.

Adani Green raises $1.06 bn for debt refinance, first since US indictment

Adani Green Energy Ltd had earlier shelved its planned $600 million bond offering in November 2024 following the US indictment of key executives, including Chairman Gautam Adani

TP Solar bags Rs 632 cr order to supply 292.5 MWp solar modules from Seci

Tata Power on Thursday said that its solar manufacturing arm TP Solar has secured an order worth Rs 632 crore for the supply of 292.5 MWp solar modules from Solar Energy Corporation of India (SECI). The project is awarded under the CPSU Scheme Tranche-III, a Tata Power statement said. The contract, valued at approximately Rs 632 crore, entails the delivery of high-quality DCR (Domestic Content Requirement) modules to the designated site in Ramagiri, Andhra Pradesh, it added. The project is part of SECI's larger 400 MWp tender, which underwent a competitive bid submission process followed by an e-Reverse Auction. The contract includes a total scope of 400 MWp DCR Modules, of which TP Solar has secured 292.5 MWp. The preferred delivery timeline for the project is set from October 2025 to January 2026, spanning a duration of four months.

THDC enters thermal energy sector, begins ops of 660-MW unit at UP plant

THDC India has started commercial operations of a 660-MW unit at its Khurja Power Plant, marking an entry into the domestic thermal energy sector, the company's CMD R K Vishnoi said. Until now, the company was generating 1,424 MW from hydro, 113 MW wind and 50 MW solar energy. THDC India Ltd (THDCIL) is setting up a 1,320 megawatt (2X660 MW) super thermal power project (STPP) at Bulandshahr district in Uttar Pradesh (UP) at an investment of around Rs 13,000 crore, Vishnoi told PTI. "We have achieved a monumental milestone in our commitment to strengthening India's power generation capacity. Unit 1 of 660-MW has started commercial operations from the midnight of January 25, 2025," he said. The second unit will also be operational soon. The date is being worked out, after which the whole project will be operational, the official said. Sharing the details of the greenfield project, he said the foundation stone for the project was laid by Prime Minister Narendra Modi on March 9, 2019.

Best of BS Opinion: How India's renewable energy success turned sour

Today's pieces cover diverse topics: our editorials examine how India's renewable energy sector is now a victim of its own success, and ponder the government's inexplicable pause on privatisation.

Captain Polyplast Q3 results: PAT grows to Rs 6.7 cr, income at Rs 90.9 cr

Solar solutions provider Captain Polyplast on Thursday a consolidated net profit of Rs 6.72 crore in the December quarter. It had posted Rs 4.96 crore net profit in October-December of 2023-24 financial year, the company said in a statement. The company's total income rose to Rs 90.89 crore from Rs 83.46 crore in the year-ago quarter. Expenses stood at Rs 82.01 crore as against Rs 77.22 crore a year earlier. Captain Polyplast is into manufacturing of solar water pumps, solar heaters besides irrigation solutions.

Motilal Oswal says 'Buy' ACME Solar for 59% upside, initiates coverage

ACME Solar share rose after Motilal Oswal initiated coverage with 'Buy' rating for a target price of Rs 330, which reflects an upside potential of 58.95% from the previous close (Feb 4) of Rs 207.60

Welspun New Energy to invest Rs 13.5k cr in clean energy projects in Odisha

Welspun New Energy has signed a pact with the Odisha government to invest Rs 13,500 crore for the development of two clean energy projects in the state, a statement said on Tuesday. Under this agreement, Welspun New Energy has committed investments worth Rs 13,500 crore to develop a 1,200 MW pumped hydro project and a 1,000 MW floating solar power project in Odisha, its parent firm Welspun World said in the statement. These projects are expected to enhance the state's energy storage capacity, support the integration of renewable energy into the grid, and contribute to India's overall target of achieving 500 GW of renewable energy capacity by 2030, it added. "The projects, backed by our Rs 13,500 crore investment in green technologies, mark a key milestone in our mission to accelerate renewable energy adoption in the state, highlighting our unwavering commitment to innovation and sustainability," Kapil Maheshwari, Executive Director & CEO of Welspun New Energy, said. Welspun World .

Premier Energies stock tanks 12% from day's high on profit booking after Q3

Along with its financial results, Premier Energies' board of directors declared an interim dividend of 50 per cent, or Rs 0.50 per share, on the face value of Re 1 per paid-up equity share for FY25