SOLAR COMPANIES
Budget 2024: Capex, SOPs, bold reforms top infra and energy companies' wish list
Budget 2024: Finance minister Nirmala Sitharaman on Friday met representatives from the infrastructure and energy sector as a part of her pre-budget consultations. "While the capex support for the infrastructure was common, the industry wanted bold reforms to push infrastructure projects, support for energy transition and tax incentives for solar and sector to meet India's goal to attain net-zero by 2070," said a person aware of the details of the meeting. The industry is also seeking a government roadmap for creating better cities.
SECI plans 500-MW solar thermal capacity tender by FY25-end: CMD
The India Energy Storage Week 2024 unveiled cutting-edge technologies like solid-state batteries and sodium ion solutions, offering Indian companies a gateway to the global battery market opportunities.
Jakson Green signs pact with NHPC for supply of 400 MW solar power
NHPC secures a long-term power deal to benefit discoms in a 25-year agreement with Jakson Green. The 400 MW project in Rajasthan strengthens Jakson Green's leading position, complementing its extensive 1 GW portfolio and collaborations with RUVNL, marking a significant milestone in the energy sector.
Waaree Energies to supply 900 MW of modules for Solar Power Plant in Rajasthan
Waaree Energies has secured a contract from Serentica Renewables India to supply 900 MW modules for a solar power plant in Rajasthan's Fatehgarh district. The project is expected to be one of the largest in India with Waaree modules. The delivery schedule is set from August 2024 to February 2025. Waaree will oversee the manufacturing, testing, packing, and transportation of the modules, ensuring quality standards and timely project execution.
JSW Energy, SJVN sign PPA for 700 MW solar project in Rajasthan
Pritam Singh, Singapore's Leader of Opposition and of Indian-origin, was re-elected as secretary-general of the Workers' Party (WP) on Sunday. He leads a newly elected Central Executive Committee (CEC) chaired by Sylvia Lim, comprising 14 members. Singh, who has held the position since 2018, was returned unopposed. The CEC, elected for a two-year term, is gearing up for Singapore's upcoming general election, possibly in November this year.
Warehouse operators take shine to solar power, rework logistics
The move towards renewable energy is not just a response to global environmental concerns but also a strategic business decision for many warehouse operators seeking to reduce operational costs and enhance sustainability.
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Airtel's Nxtra to become 100 pc renewable energy data centre company
According to the statement, Nxtra has become the only data centre organisation in India to have pledged to RE100 and the 14th Indian company to achieve this milestone.The company claims to have increased its renewable energy use and has contracted 422,000 MWh renewable energy till date.
JSW Energy inks power purchase agreements via its arms for 1,325 MW renewable projects
JSW Energy has signed power purchase agreements with subsidiaries for wind and solar projects, totaling 1,325 MW. This brings the company's total locked-in capacity to 13.6 GW. The agreements account for 36% of the company's pipeline capacity, aiming to achieve 20 GW capacity by 2030.
Juniper Green Energy secures renewable PPAs in Gujarat, Rajasthan
Juniper Green Energy announced on Wednesday that it has signed power purchase agreements for renewable energy projects in Gujarat and Rajasthan. The company has secured an agreement with Gujarat Urja Vikas Nigam Limited (GUVNL) under wind phase VI for a standalone 90 MW wind project in Gujarat. The aim of these projects is to promote renewable energy in these regions.
Adani to invest Rs 2 lakh crore in renewable energy capacity addition by 2030
Adani Group plans to invest Rs 2 lakh crore by 2030 to achieve 40 GW of renewable energy generation capacity, aiming for net zero emissions by 2050. With over 10 GW capacity currently, they aim to add 6-7 GW annually to reach 50 GW by 2030. The investment is estimated at Rs 5 crore per megawatt. Adani Green Energy Ltd has added 2.8 GW capacity in FY24.
SunSource Energy commissions 3 open access solar plants in Uttar Pradesh
Solar solutions provider SunSource Energy on Tuesday announced the commissioning of three open access solar power plants totalling a capacity of 45 MWp in Uttar Pradesh. Located in Jhansi and Lalitpur districts on a combined area of 150 acres, these projects have a total capacity of 45 MWp and signify the continued commitment of SunSource Energy to expanding its footprint in the state, a company statement said.
India says rising solar cell output will curb imports from China
In a bid to wean itself off Chinese imports, India has levied taxes on some solar components and introduced a so-called approved list of models and manufacturers, a non-tariff trade barrier that’s essentially meant to keep foreign shipments out.
Shree Cement's installed power capacity touches 1 GW, to focus on green generation
India's third largest cement manufacturer, Shree Cement, announced on Monday that it has achieved an installed power capacity of 1,000 MW. This milestone was reached with the commissioning of a 19.5 MW solar power plant at its Andhra Pradesh unit. The accomplishment involves a mix of solar, wind, thermal, and waste heat recovery power plants.
L&T bags significant order for solar plant in Bihar
Infrastructure major Larsen and Toubro (L&T) has won a substantial contract to construct a grid-connected solar plant with a battery energy storage system in Bihar, valued between Rs 1,000 crore and Rs 2,500 crore. The project in Kajra village, Lakhisarai district, will assist Bihar in utilizing renewable energy and overcoming climate change challenges.
IGL to diversify into solar rooftop, battery recycling
"With the exponential growth being witnessed in the electric vehicle market, demand for batteries has risen significantly. Many rare earth metals go into battery manufacturing, so IGL thinks recycling them could be a lucrative option, especially when not many companies are doing it," said another senior industry executive.
Record $1.8 trillion investment in renewables made in 2023 not enough to meet COP28 goals, says EY report
More than 100 countries at the COP28 climate summit in Dubai last year had agreed to triple renewable energy capacity by 2030 and cut down the use of fossil fuel and emissions, a move seen as vital to avert the worst effects of climate change. The pledge made at COP28 is one of the several energy-related announcements that include new measures and funding to combat methane emissions, agreements to cut coal use and nuclear energy promotion.
Waaree Energies bags order to supply 280 MW solar modules to Mahindra Susten
Waaree Energies has secured a 280 MW solar module supply order from Mahindra Susten. The deliveries will start in December 2024. The move comes to support the Mahindra Susten's renewable energy projects in Bikaner, Rajasthan. The agreement involves supplying advanced ELITE Series N-Type TopCon 580Wp modules known for their efficiency.
Rajasthan CM approves allotment of 4,780 ha to set up 4 solar projects
Under the proposal, Rajasthan Solar Park Development Company is set to receive 4,780 hectares for the construction of three solar parks totaling 2,450 MW in Bikaner district. Additionally, NTPC Renewable Energy Ltd will be allotted about 910 hectares to establish a 500 MW solar project in Phalodi district. The solar parks in Bikaner district will consist of two 1,000 MW parks and one 450 MW park.
ACME ties up Rs 5,600 cr loan for green energy project in Andhra Pradesh
The projects will have the ability to supply power nationwide during peak hours without disruptions. ACME, ReNew Power, Hero Future Energies and Amp Energy won parts of the tender.
How solar companies are surpassing Big Oil
The rise of Chinese solar power cos like Tongwei and Longi is challenging the dominance of traditional oil giants such as Exxon Mobil and Shell. Solar firms are already rivaling Big Oil in energy production efficiency, longevity, and environmental impact, signaling a significant shift in the global energy landscape.
RE firm Candi Solar secures USD 38 mn funding
Renewable energy company Candi Solar has secured $38 million in a series C funding round led by Norfund, Kyuden International, and STOA. This funding will support Candi Solar's expansion in India and Africa, financing an additional 200 MW of solar projects and supporting strategic hiring. The company currently has a portfolio of 112 MW of green energy projects.
JSW Energy begins construction of 1 GWh battery energy storage project in Rajasthan
The project will be developed under a Build Own Operate and Transfer (BOOT) mechanism and will be transferred to the off-taker after 12 years, the company said, adding that it had bagged the project from Solar Energy Corporation of India Limited (SECI) recently.
Solar investment outstrips all other power forms: IEA
Global investment in clean energy technology and infrastructure is set to hit $2 trillion this year, twice the amount going into fossil fuels, an International Energy Agency report showed. Total energy investment is expected to exceed $3 trillion for the first time in 2024, the IEA said in its annual World Energy Investment report.
KPI Green Engineering bags orders worth Rs 351 cr
KPI Green Engineering secures Rs 351.35 crore orders for railway track fencing crash barriers, solar projects, and electricity transmission line towers.
Maruti Suzuki to invest Rs 450 crore over the next 3 years on renewable energy initiatives
Maruti Suzuki India plans to invest Rs450 crore in renewable energy initiatives like solar power and biogas over the next three years. The company has commenced production at its biogas plant at its Manesar facility by harnessing food waste and Napier grass resources.
Tata Power Solar System launches nationwide solar power drive from Jodhpur
Tata Power Solar Systems Ltd launched the '#GharGharSolar, Tata Power ke Sangh' national campaign from Sun City Jodhpur, Rajasthan, with Praveer Sinha CEO and MD Tata Power present.
US firm becomes world's most valuable solar firm after Chinese rivals slip
First Solar Inc. becomes the world's most valuable solar manufacturer, surpassing Sungrow Power Supply Co. and ending China's dominance since 2018.
Rooftop solar scheme: 100,000 hands to be trained to put solar panels in homes
Besides trained manpower, another challenge for such a scale of implementation would be the need for a large number of vendors. An official said the government is also looking to train 50,000 vendors for entrepreneurship.
Modi govt's new solar scheme has three big hurdles
The government has launched a new scheme to encourage the installation of solar panels on rooftops, aiming to triple renewable capacity by 2030. The program provides subsidies to install grid-connected systems, allowing households to reduce electricity bills and sell extra power to the grid. However, challenges remain, including difficulties with electricity distribution companies (DISCOMs) and a lack of skilled workers. Despite these hurdles, the initiative is expected to create jobs and significantly reduce CO2 emissions.
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