Page 4 - Solar

18% electricity generated in India will be solar by 2030, says IEA

IEA's new World Energy Outlook 2023 published on Tuesday indicated that renewables would provide half of the world's electricity by 2030

Corporate funding in solar industry surges 55% to $28.9 bn: Mercom Capital

The corporate funding in the global solar sector rose 55 per cent to 28.9 billion during January-September 2023, mainly due to the push to meet energy transition objectives, Mercom Capital has said. The global corporate funding in the sector was USD 18.7 billion in the first nine months of 2022, the US-based research firm said in its latest report. Despite inflationary challenges and elevated interest rates, financing in the solar industry has remained robust through the first three quarters of 2023, Mercom Capital Group CEO Raj Prabhu said. "The resilience can be attributed to a strong global push to achieve energy transition objectives and substantial demand created by the Inflation Reduction Act - which has helped the sector weather persistent economic challenges and retain the interest of investors," he added. In the venture capital segment in India, Juniper Green Energy secured a USD 350 million investment from AT Capital Group and Vitol to achieve its target to triple its ...

Goldi Solar to add 1,000 MW to its operational capacity by Q3: MD Dholakiya

Goldi Solar will add another 1,000 MW to scale its operational capacity to 4,000 MW by December-end, its Managing Director Ishver Dholakiya has said. The company is also eyeing an order book of Rs 5,000 crore for the 2023-24 financial year, he added. "We are bullish on the solar market. There is a good demand for our products in domestic and international markets. Now, we are aiming for order bookings of over Rs 5,000 crore in the current fiscal from customers in India, the US, South America, Africa, Europe and the Gulf countries," Dholakiya said in reply to a question on exports. Besides, the company will make operational another 1,000 MW of capacity by the third quarter of this fiscal, the MD informed. Gujarat-based Goldi Solar has two solar module/panel manufacturing plants, totalling 3,000 megawatts (MW) in Pipodara and Navsari districts. The company is in the process of investing Rs 5,000 crore to double its module manufacturing capacity to 6,000 MW by 2026, besides setting u

Investment in solar expected to be $380 billion this year, says ISA

The DH further said that the ISA is supporting the growth of 9.5 GW of solar energy in projects across the world

Sales of solar energy kits rise to 5.2 mn globally in second half of 2022

Rooftop solar installation witnessed a tremendous growth in 2022 with sales of solar kits increasing globally to 5.2 million in the second half of the calender year, 20 per cent more than the units sold in the first six months, an official said on Wednesday. "In the past year, we have seen tremendous uptake of solar rooftops," said Ajay Mathur, Director General, International Solar Alliance. Data reveals that 5.2 million solar energy kits were sold globally in the second half of 2022, which is a 20 per cent increase from the first half of the year and 18 per cent higher than the previous peak in the second half of 2019," he said at the South Asia Forum for Distributed Energy (SAFDE) here. "This clearly shows that we have learned to value them as we go. We have also learned to value the off-grid utilisation architecture in parallel," he added. Earlier in the day, the forum was opened by Union Minister of State for New and Renewable Energy, Chemicals and Fertilizers Bhagwant Khuba.

ReNew signs pact with Petronas's green unit Gentari for 5GW projects

Gentari is looking to build close to 30 GW in renewable energy capacity by 2030

Corporate funding in global solar up 54% to $18.5 bn in Jan-Jun: Report

Corporate funding in the global solar sector increased 54 per cent year-on-year to USD 18.5 billion in the first half of this year, says a report. According to a Mercom Capital report, the total corporate funding was at USD 12 billion in the January-June period in 2022, the report said, adding that corporate funding includes venture capital, public market and debt financing. "Even amidst tightening financial market conditions and high interest rates, the solar industry remained strong in the first half of the year. "Besides AI, cleantech is one of the few sectors still attracting VC interest. Demand due to the Inflation Reduction Act (in the US) is so strong that even interest-rate sensitive public markets and debt financing increased," said Raj Prabhu, CEO of Mercom Capital Group. During January-June 2023, global VC funding was at USD 3.8 billion through 33 deals, 3 per cent compared to USD 3.7 billion in 53 deals in the first half of 2022. In India, some of the companies which .

Solar storms will strike earth today, NASA warns. All you need to know

NASA warns the collision of two solar storms with earth could influence the planet's magnetic field today at around 5.30 pm. The incident could cause many life disruptions

Goldi Solar investing Rs 5k cr to boost module manufacturing capacity: MD

Gujarat-based Goldi Solar is in the process of investing over Rs 5,000 crore to expand its module manufacturing capacity to 6 GW, the company's managing director Ishver Dholakiya said. At present, the company's total module manufacturing capacity is 2.5 GW, Dholakiya, who is also the founder of the company, told PTI. When asked about the company's growth plans, he replied, "We are in the process of investing over Rs 5,000 crore as part of our expansion plans to increase module manufacturing from 2.5 GW to 6 GW." The renewable energy business expansion will be channelled into auxiliary production, including aluminium frames, junction boxes, backsheet, etc, he said. The investment will be made by the year 2025, he said, adding, his company also aims to recruit over 4,500 people across various functions, which will increase its workforce to over 5,500 by FY25. "We plan to hire 25 per cent of the workforce from the local tribal regions adjoining its proposed manufacturing facility. We

VSK Energy backed by Vikram Solar to invest $1.5 bn in new US factories

The newly formed company, VSK Energy LLC, aims to leverage India's extensive solar manufacturing know-how in the U.S. push to build a clean energy manufacturing sector to compete with China

NASA's Parker Solar Probe detects fine structure of source of solar wind

NASA's Parker Solar Probe has flown close enough to the sun to detect the fine structure of the solar wind close to where it is generated at the sun's surface

Brookfield acquires controlling stake in CleanMax Solar for $360 million

Canadian investor Brookfield said on Thursday it had acquired a controlling stake in Indian solar-panel maker CleanMax Enviro Energy Solutions for $360 million

Garmin launches Instinct 2X Solar edition smartwatches in India: Details

Alongside, the outdoor adventure watch maker announced new pricing for the Garmin Instinct 2 series

Centre to put up 50 Gw of renewable projects for bidding this year

Of this, at least one Gw would be wind energy

First Solar, Reliance, Avaada Group among winners of $2.4 bn green aid

The 39.6 gigawatts of manufacturing capacity is expected to require investment of 930.4 billion rupees, according to a government statement

CRISIL reaffirms ratings for Adani Group's solar, wind power units

The shares of listed Adani group companies have witnessed huge volatility in prices after US-based short-seller Hindenburg's research report

ESAF Bank, V-Guard partners to finance solar rooftop power systems

ESAF Small Finance Bank and electric equipment manufacturer V-Guard Industries signed an agreement to provide financing options to customers looking to install solar rooftop power systems. Under the agreement, ESAF Bank will provide various financing options, including loans and attractive installment payment plans, a statement said. With the strategic alliance with ESAF Bank, it said, consumers can opt to finance up to 80 per cent of the total cost of the rooftop solar power system, including the cost of installation for residential or commercial applications. This collaboration will not only reduce the burden on customers to make an upfront payment but also enable them to generate their own electricity, thereby reducing their dependence on the grid, it said. This partnership will enable customers to switch to clean energy with ease and affordability, it added.

Next big thing is to take solar to everyone's life: ISA Director-General

In a Q&A, Dr Ajay Mathur talks about the Alliance's current agenda, and financing and capacity building plans across green sectors

ACME Group to invest Rs 1.5 trn in green hydrogen over 7 yrs; seeks tie-ups

Plans come at a time when govt is likely to announce a green hydrogen purchase obligation for fertiliser and petroleum units, similar to renewable purchase obligation

New solar PLI scheme to cap bidding capacity at 10 Gw for past winners

The minimum Local Value Addition (LVA) or use of local content for participating manufacturers kept at 90%