Page 2 - Solar Power In India

High installation cost barrier to adopting solar rooftop power: Report

High cost of installation and lack of skilled workforce are among the top three barriers to adoption of rooftop solar power in India, according to a survey. The survey was conducted by Luminous Power Technologies, involving 4,318 respondents from 5 metros and 8 non-metro cities. About 90 per cent of the respondents of 'Solar Spectrum of New India' survey acknowledge the need for specialized skills in solar panel installation, and 45 per cent believed skilled labour is unavailable locally. "The top barriers to the adoption of solar power in India are shortage of specialized skills, perceived cost implications and accessibility," it said. The study further said that around 59 per cent respondents have concerns over high initial installation costs. "A noteworthy proportion believe that the cost of implementing solar power solutions is slightly more compared to traditional energy sources," it said. This suggests the need to build awareness of financial schemes and avenues available f

Assam CM Sarma lays foundation stone for 25-MW solar power project

A joint venture between the Assam Power Generation Corporation and Oil India Limited, the project will span 108 acres and is expected to cost Rs. 115 crore

Maruti Suzuki to invest Rs 450 crore in renewable energy initiative

Maruti Suzuki India on Wednesday said it will invest Rs 450 crore over a span of three years towards commissioning renewable energy projects linked to solar power and biogas. In FY24, the company invested Rs 120.8 crore in the vertical. The company will increase this investment around four-fold to Rs 450 crore spread over three years starting FY25, it said in a statement. "As we ramp up our production capacity from around 2 million to 4 million by 2030-31, we are also accelerating our efforts to increase the share of sustainable and renewable energy sources across our operations," Maruti Suzuki Managing Director & CEO Hisashi Takeuchi said. Just as the company is bringing multiple technologies in products, it would also focus on multiple renewable energy sources to make the operations greener, he added. The company said it has commenced a pilot biogas plant at its Manesar facility in FY25, harnessing the untapped potential of in-house food waste. The plant is designed to produce .

Avaada Energy secures 1,400 MWp solar projects from state-owned agencies

Avaada Energy on Friday said it has secured over 1,400 MWp solar projects across the country from state-owned agencies. The company has secured projects with capacities of 421 MW, 280 MW, and 700 MW in tenders issued by SECI, GUVNL, and NTPC, respectively, according to a statement. These projects, slated for development in Gujarat and Rajasthan, underscore the company's commitment to expanding its renewable energy footprint in India, the statement said. "Avaada Energy, a key entity in the Avaada Group's renewable energy division, is pleased to announce its successful acquisition of approximately 1,400 MWp in solar energy projects through recent tenders by central and state government agencies in India," it said. The Power Purchase Agreements (PPAs) with these agencies will span 25 years. These projects are slated for completion within a timeframe of 24 months. Upon commissioning, these solar installations are expected to generate an estimated annual output of approximately 2,410

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

Solar module manufacturing capacity to touch 60 GW mark by 2025: ICRA

The domestic solar photovoltaic (PV) module manufacturing capacity is expected to touch 60 gigawatts (GW) by 2025, according to Icra. At 60 GW, there will be a 62 per cent growth in module manufacturing capacity compared to the current level of 37 GW, the rating agency said on Monday. It is likely to increase to nearly 100 GW as the capacity awarded under the production-linked incentive (PLI) scheme comes on stream, led by the strong policy support and growing demand from domestic solar power installations, Icra said. The solar PV module supply chain is dominated by China, with over 80 per cent share in manufacturing capacity across polysilicon, wafer, cell, and modules. In comparison, the manufacturing capacity in India is relatively low and is largely restricted to the last manufacturing stage. The PLI scheme is expected to change this, with integrated module units expected to come up in India over the medium term. The Government of India (GoI) has awarded incentives for setting

Waaree Energies secures 200 MW module supply order from ENGIE India

Waaree Energies has bagged a 200 MW module supply order from ENGIE India for a solar project in Surendra Nangar district of Gujarat. "Waaree Energies has received a mandate from ENGIE India for supply of 200 MW of solar modules for a solar power project in Sayla village in Surendra Nagar district of Gujarat," a company statement said. The company, however, did not disclose the value of the order. ENGIE India is a subsidiary of the French-based ENGIE Group, a global player in low-carbon energy and services. The company is developing the Sayla village project, designated as GUVNL 2, under a 25-year solar power purchase agreement (PPA) with Gujarat Urja Vikas Nigam (GUVNL), it informed. "This mandate from ENGIE India is a validation of Waaree's status as India's predominant solar module manufacturer," Hitesh Doshi, Chairman & Managing Director, Waaree Group, said in the statement. Waaree's supply mandate with ENGIE is expected to commence from November this year and is likely to ...

Solar power investment set to surpass oil production spending this year

The growth in clean energy spending is driven by technologies including solar panels and electric vehicles that are key to cutting dependence on the use of oil, coal and natural gas

Corporate funding in global solar sector grows 11% to $8.4 bn in Jan-Mar

Corporate funding in the global solar sector increased 11 per cent year-on-year (y-o-y) to USD 8.4 billion in January-March period of 2023, according to a Mercom Capital report. Corporate funding includes venture capital, debt and public market financing. "The investments in the solar sector bucked the trend in Q1 despite tough economic conditions. The Inflation Reduction Act in the US is a significant driver for investments in solar. The fundamentals are solid, driven by strong demand for the energy transition worldwide, especially in Europe and the United States," said Raj Prabhu, CEO of Mercom Capital Group. Total corporate funding into the solar sector in the first quarter of 2023 calender year came to USD 8.4 billion compared to USD 5.4 billion in the fourth quarter of 2022. Funding increased 11 per cent y-o-y compared to USD 7.5 billion raised in Q1 2022, the report said. During January-March 2023, global VC funding was at USD 2.1 billion in 18 deals, 75 per cent higher compa

By 2025, Delhi govt aims to meet 25% of annual demand through solar power

The Delhi government's solar policy, which will be notified next month, aims to meet 25 per cent of the city's annual electricity demand through the clean energy by 2025, Delhi Finance Minister Kailash Gahlot announced on Wednesday. While presenting his maiden budget as finance minister, Gahlot in the assembly announced an allocation of Rs 3,348 crore for the power sector, up from Rs 3,340 crore last year, and highlighted that electricity rates have not been increased in the last eight years. "The Delhi government has treated providing minimum electricity to every household in Delhi like a fundamental right and in the year 2022-23, out of Delhi's 58.5 lakh domestic consumers, about 84 per cent had availed the Delhi government's electricity subsidy scheme," he said in the assembly. Gahlot said the government's Solar Policy will be notified by next month and it will establish Delhi as a leading example for the country in the field of solar energy. "The Delhi Solar Policy 2022 aims to

Indore plans nation's first retail municipal bond for solar power project

Indore Municipal Corp. seeks to raise as much as 2.6 billion rupees ($31.8 million) via a 10-year bond sale next month

India saved $4 bn in fuel costs via solar power in first 6 mnths: Report

India saved USD 4.2 billion in fuel costs through solar generation in the first half of 2022 and 19.4 million tonnes of coal that would have further stressed an already strained domestic supply, according to a new report released on Thursday. The report by energy think tank Ember, the Centre for Research on Energy and Clean Air and the Institute for Energy Economics and Financial Analysis also analysed the growth of solar power over the last decade and found that five of the top 10 economies with solar capacity are now within Asia, including China, Japan, India, South Korea and Vietnam. The contribution of solar generation in seven key Asian countries -- China, India, Japan, South Korea, Vietnam, the Philippines and Thailand -- avoided potential fossil fuel costs of approximately USD 34 billion from January to June 2022, the report said. This is equivalent to 9 percent of total fossil fuel costs during this period, it added. "In India, solar generation avoided USD 4.2 billion in fu

NaBFID likely to make first fund commitment this financial year, says MD

It is looking at projects in transmission, energy, solar power and roads; is also eyeing a retail bond issuance

Solar manufacturing PLI to create 90 Gw addl capacity in India: R K Singh

India to have more than 60% power generation from RE by 2030, says minister

SJVN unit, Assam discom to form JV to set up 1kMW floating solar projects

State-owned SJVN on Monday said its arm SJVN Green Energy and Assam's power distribution company APDCL have inked a pact to form a joint venture to set up 1,000 MW floating solar projects worth Rs 6,000 crore in Assam. Nand Lal Sharma, Chairman & Managing Director, SJVN, informed in a statement that a Memorandum of Understanding (MoU) has been signed between SJVN's wholly-owned subsidiary SJVN Green Energy Ltd (SGEL) and APDCL (Assam Power Distribution Company Ltd) in Guwahati. According to the statement, the MoU has been inked for developing 1,000 MW floating solar power projects in Assam by incorporating a joint venture company in the presence of the state chief minister Himanta Biswa Sarma. The MoU was signed by Sharma and APDCL managing director Rakesh Kumar. Sharma said that the project will generate 2,192 million units in the first year after commissioning, and around 50,425 million units cumulative energy will be generated over 25 years. An investment of Rs 6,000 crore will

Gujarat's Modhera village basks in the sun, awaits solar power benefits

Residents of India's first solar-powered village hope for reduced bills, iconic Sun Temple gets light show boost

Centre's push boosts pace of rooftop solar installations in houses: Report

The increasing need for cost savings and growing awareness among residential consumers, along with a strong push by the Central government, is helping accelerate the pace of rooftop solar installations in India's residential segment, a new report by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research & Analytics said on Thursday.

Module producers, project developers at loggerheads over solar policy

Both are cogs in the wheel to help India install 500 gigawatts (Gw) of non-fossil fuelled power by 2030

Drugmaker Cipla to buy 32.49% stake in AMP Energy Green Eleven

AMP Energy Green Eleven was incorporated on November 21, 2020, and is engaged in the business of generating and supplying electrical power generated using solar energy

IREDA invites bids from module manufacturers for Rs 4,500-cr solar PLI

The Centre had approved the scheme to boost domestic manufacturing of solar Photo Voltaic (PV) modules