Page 2 - Solar Industry

SAEL Industries signs 880 MW solar power PPAs in Gujarat, Punjab

SAEL Industries has signed two power purchase agreements for a combined solar power capacity of 880 megawatt in Punjab and Gujarat. Of the total, 400 megawatt (MW) will be set up in Punjab and 480 MW in Gujarat, the company said in a statement. In Gujarat, SAEL, through its subsidiaries SAEL Solar P Sixteen Private Ltd and SAEL Solar P Seventeen Private Ltd, has signed a PPA with Gujarat Urja Vikas Nigam Ltd (GUVNL) for a total capacity of 480 MW AC of solar photovoltaic (PV) power projects. This includes 240 MW initially allocated and an additional 240 MW awarded under the greenshoe option. The solar project is expected to achieve scheduled commercial operation within 24 months from the PPA signing. GUVNL will procure the solar power at a tariff of Rs 2.56 per kilowatt-hour (kWh) for 25 years. In Punjab, SAEL Solar P15 Private has signed a PPA with the Punjab State Power Corporation Limited (PSPCL) for a 400 MW AC solar photovoltaic power project. Under the terms of the agreem

Reliance Industries' solar leap prompts Nuvama's highest-ever target price

Nuvama forecasts that the company's 10GW module & cell capacity, to be fully operational by early CY26, could contribute an incremental ₹3,800 cr to consolidated PAT, equivalent to 6% of FY25 earnings

Silver prices surge: Top reasons and what to expect in the months ahead

Usage-wise, silver has a 52 per cent demand from industrial applications, and one of the biggest demand growth driver is its use in clean energy applications such as solar energy and electric vehicles

TP Solar crosses 4 GW of solar module production at its Tamil Nadu unit

The plant has cumulatively produced 4,049 megawatts (MW) of solar modules and 1,441 MW of solar cells up to May 2025

Rooftop solar power scheme has a mountain to climb despite funding

PM Surya Ghar Muft Bijli Yojana is to supply solar power to 10 mn households by Jan 2027

Centre mulls $1 billion subsidy plan to boost solar manufacturing industry

The plan has the backing of the top advisers in Prime Minister Narendra Modi's office and is expected to be presented to the cabinet for approval in the next few months, they said

Solar sector deals likely to pick pace in 2025, say industry officials

As of October, nearly 10 leading RE companies in India were actively seeking buyers for 20 GW capacity

US solar industry shifts focus from climate in strategy for Trump era

The policy agenda marks a stark shift in tone for the solar sector, which is a major beneficiary of subsidies contained in outgoing President Joe Biden's landmark 2022 climate change law

China's solar equipment industry looks to Opec for guide to survival

The accord comes as China's solar industry contends with overcapacity, heightened geopolitical tensions and slowing demand

PMEA Solar Tech Solutions files for IPO, eyes Rs 600 cr via fresh issue

PMEA Solar Tech Solutions has filed preliminary papers with capital markets Sebi to raise funds through an initial public offering (IPO). The Mumbai-based company's IPO is a mix of fresh issues of shares aggregating up to Rs 600 crore and an offer for sale (OFS) of up to 1.12 crore equity shares by promoters, according to the draft red herring prospectus (DRHP) filed on Monday. The company may consider raising up to Rs 120 crore in a pre-IPO placement. If such placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue to the extent of Rs 119.55 crore will be used for the setting up of certain manufacturing facilities undertaken through investment in the wholly owned subsidiary PMSS, Rs 120.45 crore for purchase of machinery/equipment; Rs 240 crore for payment of debt and remaining funds for general corporate purpose. Founded in 2006, PMEA Solar Tech Solutions specialises in solar tracking mounting systems and equipment and has an annual installed ..

Eastman Auto & Power plans to achieve turnover of Rs 10,000 cr by FY26

Solar rooftop solutions provider Eastman Auto & Power Ltd on Thursday said it plans to achieve a turnover of Rs 10,000 crore by 2025-26 aided by capacity expansion on renewal energy side. The company had posted a turnover of about Rs 3,600 crore in 2023-24, according to a statement. Committed to sustainable and profitable growth, the company plans to achieve Rs 10,000 crore turnover by 2025-26 by investment in building the solar rooftop solutions business alongside mainstay Last Mile E-Mobility Solutions business, Eastman Auto & Power MD Shekhar Singal said in the statement. This goal shall be driven by strategic investments in new power electronics manufacturing facilities for solar inverters (for grid-connected and off-grid solutions), technology partnerships and participation in multiple advanced chemistries for energy storage, he said. To achieve this objective, the company has made some top level changes. The company has appointed Ashok Jain as Chief Finance Officer (CFO)

Gensol Engineering sets up US subsidiary, to supply 2,000 MW solar trackers

Homegrown Gensol Engineering on Wednesday said it has set up a subsidiary in the US with an aim to supply over 2,000 MW solar trackers annually by 2028 to key renewable energy markets. The first US office of the newly formed arm Scorpius Trackers Inc will be located in California, positioning the company at the heart of one of the most dynamic renewable energy markets globally, Gensol Engineering said in a statement. "Gensol Engineering announces entry into the US market with Scorpius Trackers Inc. With a goal to supply over 2,000 MW annually by 2028, Scorpius Trackers Inc aims to capitalise on its decade-long experience," the company said. It has over 1,000 MW of contracted orders across key markets including India, Africa, Japan, and the Middle East, it said. The US solar tracker market, which is the largest in the world deploys trackers aggregating over 25,000 MW annually. The US tracker market is growing at a robust compound annual growth rate (CAGR) of more than 20 per cent,

Southeast Asia's solar industry boom threatened by US-China trade tensions

Chinese firms that set up factories there over the last decade are now being accused of skirting US import levies on their home market

Rooftop solar installations fall 26% to 367 MW in Jan-Mar: Report

Rooftop solar capacity installations in India registered a 26 per cent year-on-year decline to at 367 megawatts during January-March period, mainly on account of rise in input cost, according to Mercom Capital. The country had witnessed 485 megawatt (MW) of rooftop solar installations during the first quarter of 2023, the research firm said in a report on Friday. India added 367 MW of rooftop solar in the March quarter. Installations fell nearly 10 per cent quarter-over-quarter from 406 MW and dropped over 24 per cent year-on-year from 485 MW, the report titled 'Q1 India Rooftop Solar Market' said. India's cumulative rooftop solar capacity was 10.8 GW as of March 2024. "The drop in installations was largely a result of application processing delays faced by residential customers due to oversubscription under the PM SURYA GHAR: MUFT BIJLI YOJANA programme. The rise in module prices to comply with domestic content requirements (DCR) further contributed to reduced capacity additions .

Gensol Engineering appoints Shilpa Urhekar as CEO of Solar EPC, India

Gensol Engineering on Tuesday announced the appointment of Shilpa Urhekar as Chief Executive Officer (CEO), Solar EPC (India). Urhekar will succeed Ali Imran Naqvi, who has been nominated to oversee the growth of Gensol Engineering Ltd and its subsidiaries, the company said in a BSE filing. Before joining Gensol, Urhekar served as the Country Head (India) at Sterling and Wilson Renewable Energy Ltd (SWREL), where her tenure saw successful bidding and execution of 6 Gigawatt (GW) renewable energy projects. She managed the multi-gigawatt Solar EPC projects across India. Under her guidance, SWREL achieved positive bottom-line growth and completed projects ahead of schedule. With over two decades of experience in the renewable energy industry, Urhekar's appointment marks a pivotal moment for Gensol's leadership team. She will primarily focus on strengthening the company's solar EPC business and solidifying its position as a key player in India's renewable energy landscape, according

Slippery road: India's clean energy drive faces a tricky patch of taxation

The elephant in the room is Rs 7.5 trillion a year in revenues to the exchequer

Solar policy 2024 in Delhi: Rooftop system to mint 'zero' electricity bills

CM Kejriwal said the aims of Delhi Solar Policy 2024 are to reduce Delhi's air pollution and help fight inflation by bringing the electricity bills of non-subsidized residential consumers to zero

Solar manufacturer Waaree Energies files DRHP for Rs 3,000 cr IPO

Waaree Energies is the first solar manufacturer to go for initial public offering

China-Plus-One strategy powers up India's exports of solar modules

Executives from rating agencies expect exports to continue to remain a part of the strategy for most large manufacturers

India reaches 60 GW high-end solar module manufacturing capacity: AISMA

India has achieved a milestone of 60 gigawatt (GW) of installed solar module manufacturing capacity, industry body All India Solar Manufacturers Association (AISMA) said on Thursday. From less than 10 GW of low-wattage polysilicon modules making capacity in financial year 2020-21, India has scaled it up ito the current 60 GW of high-wattage and technologically advanced Mono Perc, Topcon and HJT modules manufacturing capacity, AISMA said in a statement. Hitesh Doshi, President, AISMA, said: "This is indeed a phenomenal achievement for the Indian solar manufacturing sector. Solar energy adoption is a critical component of the clean energy transition, and India's growing leadership in the space will enable the country to play a predominant role in the global renewable energy market." In line with a target to achieve net zero carbon emission by 2070, India aims to build 500 GW of renewable energy capacity by 2030, with solar energy expected to contribute to 300 GW of this capacity even