RENEWABLE ENERGY CAPACITY
Transition to renewable energy needs ?30 lakh crore in 7-8 years: Renewable energy secretary Prashant Kumar Singh
Renewable energy secretary Prashant Kumar Singh emphasizes the need for ?30 lakh crore funding over the next 7-8 years for India¡¯s energy transition. At the CII Partnership Summit, he highlights the rapid growth in solar capacity and the importance of bank financing and storage solutions for achieving the 500 GW renewable capacity target by 2030.
O2 Power inks pact to supply 100 MW electricity to East Central Railways
O2 Power has signed a Power Purchase Agreement (PPA) with East Central Railways to supply 100 MW of renewable electricity. The power will be sourced from O2 Power's facilities in Rajasthan, Gujarat, and Karnataka, aiding ECR's decarbonization efforts and contributing to India's net-zero carbon emissions goal by 2070.
Why the biomass industry is booming in India
India is emerging as a global leader in biomass energy, driven by the need to diversify energy sources and reduce reliance on fossil fuels. The biomass industry promotes rural economic development, creates jobs, and mitigates environmental pollution. Government support and policies further accelerate the growth and impact of this sector.
Global solar investment to hit $500 billion in 2024: What this means for India's green energy goals
India's renewable energy sector, particularly solar power, is experiencing remarkable growth. The country aims to reach 500 GW of installed renewable energy capacity by 2030. This ambition positions India as an attractive market for global investors seeking opportunities in the expanding solar energy sector. Financial support from domestic and international institutions is expected to facilitate this growth.
Testing facilities for energy storage systems needed for India's energy transition: NITI Aayog member
India needs to establish national testing facilities for battery energy storage to achieve its 2030 clean energy goals. NITI Aayog¡¯s V K Saraswat emphasizes universal standards and third-party certification. The focus includes diverse storage technologies, increased hydro storage, and manufacturing development supported by government incentives and collaboration with institutions.
Adani allegations shine spotlight on India's clean energy conundrum
India's renewable energy dream faces hurdles. State distributors are hesitant to buy renewable power. This delays projects and impacts clean energy goals. Adani Group's bribery allegations worsen the situation. The government is pushing for more renewable projects. But a lack of buyers creates a bottleneck. Experts suggest better planning to match supply and demand.
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Waaree Renewable Technologies bags solar project worth Rs 1,233 cr
Waaree Renewable Technologies has secured a substantial Rs 1,233.47 crore order to construct a massive 2,012.47 MWp DC capacity ground-mount solar PV project. The order was awarded by an Indian renewable energy project developer. The project signifies a major step in expanding India's solar energy capacity. No promoter or related entities have interests in the awarding company.
Explained: Adani's 'renewable energy marvel' trapped in U.S. bribery indictment
Billionaire Gautam Adani is facing challenges with his ambitious renewable energy project in India, following a U.S. indictment accusing him, his nephew, and an executive of bribing officials for power contracts and misleading investors. The project, led by Adani Green, aims to create the world's largest renewable energy park in Gujarat, producing 50 GW by 2030, a significant portion of India's clean energy target.
Waaree Energies bags order to supply 600MWp solar modules
Waaree Energies will supply 600 MWp of solar modules starting in FY2025-26. The modules will power a renewable energy project in India. This deal supports India's clean energy targets. Waaree Energies is a leading Indian renewable energy company. The company manufactures high-efficiency solar modules. This project boosts India's energy independence.
Avaada Group to invest Rs 5,800 cr to develop 1200 MW pumped hydropower storage proj in Rajasthan
Avaada Group is investing ?5,800 crore in a 1200MW pumped hydropower storage project in Rajasthan, India. The project, located in Sirohi district, aims to enhance energy security and environmental sustainability. This initiative aligns with Avaada's previous investments in Rajasthan, including green ammonia, wind power, and solar power projects, totaling ?1 lakh crore.
Domestic solar installations surge 167 pc to 16.4 GW in Jan-Sep: Mercom
India installed 16.4 GW of solar power capacity between January and September 2024. This represents a 167% increase compared to the same period in 2023. The growth was driven by the completion of previously delayed projects. As of September 2024, India's total solar capacity reached 89.1 GW. Rajasthan, Gujarat, and Karnataka lead in large-scale solar installations.
ReNew Q2 Results: Net profit jumps 31% YoY to Rs 494 crore
ReNew's total income in the second quarter also rose to Rs 2,988.7 crore (USD 357 million) from Rs 2,863.2 crore (USD 342 million) during the same period last financial year.
Increasing NGEL capacity to 19 GW a top priority, says NTPC CMD
NTPC aims to boost its green energy arm, NGEL's, capacity to 19 GW by March 2027. NGEL launched a Rs 10,000 crore IPO to fuel this expansion, with plans to add 6 GW in the current fiscal year, followed by 11 GW in FY 2025-26. The IPO received a 33% subscription on its first day.
India's renewable energy capacity to touch 250 GW mark by March 2026: Icra
India's renewable energy capacity is projected to hit 250 GW by March 2026, fueled by a robust project pipeline and increased tendering activity. This growth will be driven by rooftop solar and commercial & industrial segments. However, land acquisition and transmission connectivity issues pose potential challenges to achieving the 2030 target of 500 GW.
Days after listing, ACME Sun Power secures Rs 3,753 cr loan for projects in Rajasthan, Gujarat
ACME Sun Power, a subsidiary of ACME Solar Holdings, has secured a significant loan of Rs 3,753 crore from REC Limited. The funding will be used to develop and construct 320 MW of green energy projects in Rajasthan and Gujarat. These projects, in collaboration with SJVN, have secured PPAs and grid connectivity, signifying a step towards India's renewable energy goals.
Govt proposes task force to push for 500 GW renewable energy capacity target
Union Minister Pralhad Joshi proposed a task force to help India achieve its goal of 500 GW of renewable energy capacity by 2030. He urged industry players to develop strategies to meet the target and highlighted India's progress, having already achieved 212 GW from non-fossil fuel sources.
Develop strategies to achieve 500 GW RE capacity target by 2030: Pralhad Joshi to industry
India's Union Minister Pralhad Joshi has called upon industry leaders to help the country achieve its goal of 500 GW of renewable energy capacity by 2030. Joshi emphasized the importance of collaboration and innovation in reaching this ambitious target. India has already achieved 212 GW from non-fossil fuel sources.
Renewables share at 46 pc in total 453 GW power generation capacity: MNRE
India's renewable energy capacity has surpassed 200 GW, reaching 203.18 GW in October 2024, marking a significant 24.2 GW increase in just one year. This surge in renewable energy sources now accounts for over 46% of India's total installed power generation capacity of 452.69 GW, solidifying the country's commitment to sustainable energy solutions.
Renewable energy capacity rises 13.5pc to 203GW in October
India's renewable energy capacity surged by 13.5% to 203.18 GW in October 2024, driven by a significant increase in solar energy installations. The total non-fossil fuel capacity, including nuclear, reached 211.36 GW. The growth aligns with India's ambitious renewable energy targets, with substantial capacity in the pipeline for future development.
Biofuel blending on track, saved Rs 91,000 Cr in import bills, says Petroleum Minister Puri
India is making significant progress in biofuel blending and is expected to surpass its 2030 target of 20% ahead of schedule. The country's biofuel efforts have resulted in substantial savings on oil import bills and boosted the agricultural sector. India's refining capacity is also expanding, positioning the nation for a successful energy transition.
View: India has potential to achieve net-zero goals while sustaining economic growth trajectory
India faces a $1 trillion funding gap to achieve its net-zero goals by 2030 while maintaining economic growth. The nation is exploring various financing options, including green bonds, blended finance, and attracting private capital through incentives and regulatory measures.
Global solar capacity hits 2 TW on path to climate goal, data shows
Global solar capacity has hit a new high of 2 terawatts, doubling in just two years and marking the fastest growth period ever recorded. This surge, fueled by both large-scale installations and smaller rooftop systems, now provides enough energy to power 92 million American homes.
Senvion India plans to double manufacturing capacity by 2026
Senvion India aims to increase its manufacturing capacity to 2 gigawatts by 2026 and invest ?840 crore in research and development. The company recently introduced a 4.2 MW wind turbine and plans to expand operations in the European Union and Saudi Arabia. Senvion India, now profitable, seeks to compete in global markets with advanced wind turbine technology.
AMPIN Energy Transition, Varroc Group sign PPA for supply of solar power
AMPIN Energy Transition has signed a Power Purchase Agreement with Varroc Group for supplying 27 MW of solar power, marking a repeat order. This deal boosts Varroc's total contracted solar capacity with AMPIN to 60 MW in Maharashtra, reflecting their commitment to innovative renewable energy solutions.
ADB commits USD 434.25 million loan for solar facility in Assam
The Asian Development Bank approved a USD 434.25 million loan to boost renewable energy in Assam. This project will help Assam develop solar energy capacity and achieve its 3,000 MW target by 2030. A grid-connected solar photovoltaic facility will be constructed in Karbi Anglong district with 500 MW capacity, along with a battery energy storage system.
Meeting 2030 renewable energy target may push India's solar equipment imports to $30 bn/yr, says GTRI
India's aim to achieve 500 GW of renewable energy by 2030 may result in an annual USD 30 billion solar equipment import bill and more reliance on China. The nation must enhance its local manufacturing capabilities to reduce costs and dependence on imports, particularly in polysilicon and solar module production.
JSW Energy arms ink pacts to supply 1,200 MW solar-wind power to Maharashtra discom
JSW Energy's subsidiaries, JSW Renew Energy Six Ltd and JSW Renew Energy Thirty Ltd, have signed 25-year PPAs with MSEDCL to supply 1,200 MW of STU-connected solar-wind hybrid power. The projects are slated for completion within 24 months at a tariff of Rs 3.60/kWh.
Andhra eyes Rs 10 lakh cr investment in clean energy, net zero by 2047
Andhra Pradesh launches the AP Integrated Clean Energy (ICE) Policy, targeting Rs 10 lakh crore investment in solar, wind, and round-the-clock renewable energy projects to achieve net zero carbon emissions by 2047, creating 7,50,000 jobs. Incentives include land leases, subsidies, and waived duties.
Waaree Energies projects 30% revenue growth from rooftop solar in next five years
Waaree Energies expects rooftop solar (RTS) to form at least 30% of its revenue in the coming years, aided by initiatives like PM Suryaghar Muft Bijli Yojana. CEO Amit Paithankar emphasizes capacity expansion, local R&D, and policy support to meet future RTS demand.
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