Page 8 - Solar Energy

SECI plans to bid for state projects to meet 10 GW renewable energy target

The company, which issues and award tenders for the federal government's renewable energy projects, expects investments worth $7.7 billion for a mix of solar, wind and battery storage projects by 2030

Need Rs 32 trn investment in renewable sector by 2030, says IREDA CMD

India will require about Rs 32 lakh crore of investment in the renewable energy sector by 2030 to meet its targets, Indian Renewable Energy Development Agency's (IREDA) Chairman & Managing Director Pradip Kumar Das said on Monday. Speaking at the 23rd India Power Forum 2024, Das called on lenders to adopt a more customer-centric and sector-focused approach, emphasizing the need for timely financial solutions and innovative offerings tailored to the renewable energy sector. He stressed the pivotal role of renewable energy in India's journey towards creating a net-zero-compliant power sector. Das pointed out that India will require an estimated investment of approximately Rs 32 lakh crore in the renewable energy sector by 2030 to meet its targets. This phase will focus on ramping up renewable energy generation to meet immediate needs. From 2031 to 2047, the focus will shift towards developing the necessary infrastructure to support a fully decarbonized economy, creating a strong and

Brookfield Properties to supply green power to office campuses in Delhi-NCR

Brookfield Properties will source renewable power from solar project at Bikaner in Rajasthan for supplying green energy at four office campuses across Delhi-NCR. In a statement on Monday, Brookfield Properties said it has "secured renewable power from Brookfield's Bikaner Solar Power Project in the first partnership in India under the Inter State Transmission System (ISTS) bilateral arrangement." As a result, Brookfield Properties' occupiers in Delhi- NCR now receive 40 per cent of their energy from renewable power. This transition at its four campuses -- Candor TechSpace Sector 48 and 21 in Gurugram, and Candor TechSpace Sector 62 and 135 in Noida -- is part of the Brookfield India Real Estate Trust portfolio and is expected to reduce more than 20,000 tonne of CO2 annually. Brookfield Properties is one of the leading global operators and developers of real estate assets. It is active in nearly all real estate segments including office, retail, multifamily, hospitality, and ...

Solex Energy plans to scale up manufacturing capacity to 15 GW by 2030

Solex Energy has plans to scale up its module manufacturing capacity to 15 gigawatts which would entail an investment of Rs 8,000 crore, CMD Chetan Shah said on Monday. The investment will be made under 'Solex Energy Vision 2030' plan, the top company official told PTI. "We will increase module manufacturing capacity from 1.5 GW to 15 GW. The execution of the plan will require an investment of around Rs 8,000 crore," Shah said. Equity market will be the major source of investments and the remaining will come from financial institutions, he said. The plan also includes setting up a greenfield cell manufacturing facility with an initial capacity of 2 GW with an option to increase it up to 5 GW. Cell is a key component of solar module. The Indian solar market is a progressing market where the government is taking efforts to ensure availability of efficient modules for usage. The Approved List of Models and Manufacturers (ALMM) is an example of it, the CMD said adding "we have introd

PMEA Solar submits papers to Sebi for Rs 600 cr IPO; 11.2 mn shares on sale

PMEA Solar IPO: The funds raised through the fresh issue will be allocated towards capital expenditure and debt repayment

Local procurement mandate for solar power projects may get stringent

Proposal comes amid rising solar imports despite regulatory, tax curbs

Tata Power arm starts commercial production at 2GW Tirunelveli unit

The facility is equipped with advanced TOPCon and Mono PERC technology, enabling high-efficiency production of solar cells and modules

ISA partners with MIGA to fund Solar Energy projects in Sub-Saharan Africa

MIGA and ISA will work together to launch solar power and distributed energy projects in eligible developing countries

Alpex Solar announces plan to double PV module capacity to 2.4 GW by FY26

Solar solutions provider Alpex Solar on Wednesday announced its expansion plans to double its photovoltaic solar module capacity to 2.4 GW by FY2025-26. A greenfield project of 1.2 GW solar PV modules capacity will be installed in the company's newly acquired land parcel at Kosi Kotwan, Mathura in Uttar Pradesh, a statement said. The company will also explore a foray into solar cell manufacturing in the range of gigawatt capacity. The new project will be funded through internal accruals and loans. Once the new line is set up, the company expects a capacity of 2.4 GW by FY2026, enabling it to meet the growing demand in India and other key global markets. The company aims at deeper integration with the solar cell foray building upon its presence in solar PV modules and aluminium frames. Ashwani Sehgal, Managing Director, Alpex Solar said, "We are exploring the foray into solar cell manufacturing. This may afford us multiple advantages, including cost, profitability, and branding, an

Jakson Engineers plans Rs 2,000 cr investment to expand solar mfg biz

Jakson Group arm Jakson Engineers on Wednesday said it is planning to invest about Rs 2,000 crore for expansion of its solar manufacturing business. Jakson Engineers Ltd (JEL) -- part of the leading energy and infrastructure conglomerate Jakson Group -- announced a significant expansion of its solar manufacturing business, a company statement said. According to the statement, the company plans to invest approximately Rs 2,000 crore for setting-up a 2,500 MW Solar Cell manufacturing facility, which will be developed in two phases and is simultaneously expanding its existing solar module manufacturing facility to 2,000 MW. This expansion marks a major milestone for Jakson Engineers, reinforcing its dedication to meeting the growing demand for solar energy solutions. By significantly ramping up its manufacturing capabilities, Jakson aims to better serve its growing customer base and contribute meaningfully to the global shift towards renewable energy. Sundeep Gupta, Vice Chairman & .

Reliance to commission first solar giga-factory this year: Mukesh Ambani

Reliance Industries Ltd, India's most valuable company, plans to commission its first solar giga-factory this year as part of a pivot towards green energy, its chairman Mukesh Ambani said on Thursday. The solar giga factory will include the manufacturing of PV modules, cells, wafers and ingots, polysilicon, and glass at a single location. The modules convert sunlight into electricity. Addressing the annual shareholders meeting, he said the first train of 20GW solar PV (photovoltaic) manufacturing "will commence production" by the end of this year. It is also targeting industrialising sodium-ion cell production at the MW level in 2025 and the first 50 MWh a year lithium battery cells pilot in 2026. Reliance, in 2021, announced plans to invest USD 10 billion over three years to develop a new fuels business based on 100 GW of renewable power capacity by 2030. The plan involves setting up four giga factories for manufacturing renewable equipment, battery storage, fuel cells and hydrog

Satellites to beam sunlight down to earth at night, says California startup

A California-based startup plans to send satellites with mirrors in space to reflect sunlight onto solar farms at night. They aim to boost solar energy production by providing sunlight after dark

JK Tyre to invest Rs 1.32 cr to acquire 26% stake in solar energy venture

JK Tyre and Industries is set to invest Rs 1.32 crore for 26% stake in solar power firm Truere Galaxy, that was incorporate less than five months ago

UP plans to install solar power plants along 296-km Bundelkhand Expressway

The Uttar Pradesh government plans to install solar power plants along both sides of the 296-km Bundelkhand Expressway. According to GEAPP (Global Energy Alliance for People and Planet)-- a global alliance for green energy transition -- it has conducted a study and found that 450 MW solar power plants can be installed on both sides of the highway. GEAPP said it has also prepared a detailed project report (DPR) which has been approved by the state government. "In the study, we found that 450 MW solar power plants can be installed on both sides. We presented the study to the state government and they have approved it," Saurabh Kumar, vice-chairman of GEAPP, told PTI on Sunday. On August 9, Industrial Development Minister Nand Gopal Gupta Nandi and Chief Secretary Manoj Kumar Singh spoke to various stakeholders and solar energy experts in Lucknow and made them aware of every aspect of this project. "We are now assisting UPEIDA (Uttar Pradesh Expressways Industrial Development Author

Guidelines issued for component under 'PM-Surya Ghar: Muft Bijli Yojana'

The government on Monday issued operational guidelines for implementation of 'Model Solar Village' component under PM-Surya Ghar: Muft Bijli Yojana. Under the scheme component, emphasis has been laid on creating one model solar village per district across India, to promote solar energy adoption and enable village communities to become self-reliant in energy needs, Ministry of New and Renewable Energy (MNRE) said in a statement. A financial outlay of Rs 800 crore has been allocated for this component, providing Rs 1 crore per selected Model Solar Village, the ministry said. The scheme guidelines for implementation of Model Solar Village were notified by MNRE on August 9, 2024. The selection process involves a competitive mode where villages are assessed on their overall distributed renewable energy capacity installed on 6 months after the declaration of the potential candidate by district-level committee (DLC). As per the guidelines, in order to be considered under the competition

Sunkind Energy secures 20 MW solar projects in Punjab, Maharashtra

Clean energy company Sunkind Energy on Monday said it has secured new solar power projects totalling around 20 megawatts (MW). The contracts have been awarded by Nahar Group and Jindal Group, the company said in a statement. For Nahar Group, the company said it will set up a capacity of 7.3 MW in Ludhiana, Punjab, for captive purposes and a 19.6 MW captive solar project for Jindal Group in Nashik, Maharashtra. Both projects will be set up in engineering, procurement and construction (EPC) mode. The company aims to complete these contracts by September 2024, Sunkind Energy founder and CEO Hanish Gupta said. The company did not provide any financial details of the project. As per industry estimates, 1 MW of solar projects involves an investment of around Rs 5-7 crore, including land cost. Gurugram-based Sunkind Energy is a leading EPC solar company in the country, having a total orderbook of 52 MW solar projects under various stages of implementation.

Quantum Capital to buy US power producer Cogentrix Energy for $3 bn

Cogentrix, which was bought by Carlyle from Goldman Sachs in 2012, operates more than 70 gas, coal, solar and other renewable assets

About 151 GW green capacity under implementation in India: Pralhad Joshi

Renewable energy projects of about 151 GW capacity are under various stages of implementation in the country, Union Minister Pralhad Joshi has said. The Minister for New and Renewable Energy further said that around 76.42 GW of renewable energy capacity will be operationalized in next 3-4 years. "The government is taking several initiatives to prioritise renewable energy. Nearly 151 GW of renewable projects are being implemented, and 76.42 GW will be operationalized in 3-4 years," he said addressing a session at 'Mercom India Renewables Summit 2024' in the national capital on Friday. The tendering process for 76.42 GW capacity of projects has already been completed, the minister said. The renewable energy capacity has increased over 2.5 times from 76 GW in 2014 to more than 195 GW as of June 2024, Joshi said. The solar power capacity witnessed a steep jump from just 3 GW in 2014 to more than 85 GW now while wind power capacity increased from 21 GW to more than 46 GW, the minister

This renewable energy solutions provider stock has zoomed 625% in 15 months

Suzlon Energy rallied 5% to Rs 57.82, hitting an over 13-year high on the BSE in Tuesday's intra-day trade after the firm reported highest quarterly EBITDA in 7 years at Rs 370 crore in Q1FY25.

Torrent Power to build 50 MW solar projects for ARS Steel's power supply

Torrent Power's subsidiary Torrent Urja 14 (TU14) will set up solar projects of up to 50 MW to supply clean power to ARS Steels & Alloy International (ARS), a BSE filing said on Monday. As per the Subscription and Shareholders' Agreement (SSSA) signed on Monday, ARS will also have an equity stake in the TU14 -- an arm of Torrent Power. The SSSA has been signed by Torrent Power, ARS and TU14 for the supply of power from by development of up to 50 MWp solar power generating projects in Tamil Nadu through open access from the project of TU14 to the production units of ARS," the filing said. "Significant terms of SSSA include that ARS shall at all times during the subsistence of the power supply and offtake agreement hold not less than 26 per cent of the aggregate equity shares of TU14," Torrent Power said. Torrent Power is into generation, transmission and distribution of power. The company is also engaged in the manufacturing and supply of power cables.