SOLAR ENERGY CORPORATION OF INDIA
VIEW: Cues on the critical need to support India’s solar and renewable energy industry
NDA 3.0 aims to revitalize India’s economy with a focus on clean energy in the 2024-25 budget. Priorities include policy continuity, fiscal incentives, and significant investments in renewable technologies, particularly solar. By allocating 5-10% of GDP to clean energy, India can foster economic growth, employment, and global leadership in renewable energy.
Govt receives bids from 23 companies for tranche-II of electrolyser manufacturing incentive scheme
Adani Enterprises Ltd, Bharat Heavy Electricals Ltd, Avaada Electrolyser Pvt Ltd, Thermax Ltd, and Waree Energies Ltd are part of the 23 companies bidding for incentives to manufacture electrolysers in the second tranche of the Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme. The scheme, part of the National Green Hydrogen Mission, aims to boost domestic manufacturing and green hydrogen production with a total outlay of ₹17,490 crore. The latest tender received bids for 2,847 MW, exceeding the offered capacity of 1,500 MW, with bids totaling up to ₹2,220 crore.
Budget 2024: Renewed focus on solar capacity and renewable energy integration needed
India's solar capacity has grown significantly, reaching 84 GW by May 2024. To achieve its 2030 target of 500 GW non-fossil fuel energy capacity, India must triple its current rate of capacity addition. Budget 2024 should enhance support for innovative renewable energy models, RE manufacturing, and necessary transmission and distribution investments.
DVC to invest Rs 20,000 cr in solar energy projects by 2030
The Kolkata-headquartered corporation now has only 14 MW installed solar capacity and is executing a 348 MW project in association with NTPC. A 250MW/hour capacity of battery storage is also under consideration, he said.
MNRE issues incentive guidelines for green hydrogen producers under SIGHT scheme
Solar Energy Corporation of India (SECI) is the implementing agency for this tranche as well. The Request for Selection (RfS) shall be issued by SECI shortly. The bidding shall be based on the least average incentive quoted by the bidder. The minimum bid under bucket-I is 10,000 TPA while the maximum bid is 90,000 TPA.
India's biggest concentrated solar tender likely this year
The tender will be issued by the end of this fiscal, Gupta said. SECI is the nodal agency for implementing the government's renewable energy projects. "There have been solar thermal tenders but not of this scale," Gupta told reporters on the sidelines of India Energy Storage Week 2024 organised by India Energy Storage Alliance.
Karnataka to set up solar park in Madhugiri, boost renewable energy production: Minister K J George
The Karnataka government plans to establish a solar park in Madhugiri taluk, following the success of the Pavagada Solar park in Tumakuru. The park will be developed in a strategic partnership with Tehri Hydro Development Corporation India Limited (THDCIL), owned by the central government. The project aims to enhance environmental stewardship and energy security in the state.
India keen to speed up power grid link talks with Sri Lanka
India is actively pursuing discussions with Sri Lanka to establish a power grid link, focusing on renewable energy for electricity trading. The project includes overhead and under-sea cables, with economic benefits being evaluated by PwC India and plans for a joint consultant for investment decisions.
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.
India powers up energy network for its hotspots
The govt is taking steps to ensure power projects, including renewable energy sources like wind turbines and solar panels, can operate effectively in the face of intense heatwaves in India. Actions involve enhancing heat tolerance levels, addressing peak power demand, upgrading transmission equipment, and implementing measures like proper ventilation in substations and transformer yards.
Gensol Engineering bags another BESS project from GUVNL
Gensol Engineering secures an additional 250 MW/500 MW Battery Energy Storage System Project from GUVNL, increasing its order book to Rs 3,100 crore.
IFC to fund $105 mn for Brookfield’s Bikaner Solar Power Project
IFC has committed $105 million to finance a 550 MW solar power project in Bikaner, Rajasthan by Brookfield Asset Management, using long-term debentures. This marks IFC's first Asia-Pacific investment with a hybrid offtake structure selling power to C&I consumers and the merchant market. This partnership aims to showcase renewable energy viability, support India's green energy corridor, and drive clean energy uptake. Brookfield plans to expand renewable investments in India, in alignment with IFC's goal of increasing market competitiveness and reducing carbon footprint.
Construction of 1,000-Mw Solar Power Project in Karbi Anglong will begin shortly: Assam CM Himanta Biswa Sarma
Assam Chief Minister Himanta Biswa Sarma announced the upcoming construction of a 1,000-MW Solar Power Project in Karbi Anglong. This comes after the laying of the foundation stone for a 25-MW solar power generation project at the Namrup Thermal Power Station in Dibrugarh district. The joint venture between Assam Power Generation Corporation and Oil India Limited will cost Rs. 115 crores and is expected to produce 50 million units of electricity annually upon completion in July 2025.
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.
Gensol Engineering emerges successful bidder for Rs 1,340-cr battery energy storage project
The project will supply electricity on an 'on-demand' basis to Gujarat State's DISCOMs during peak and off-peak hours, thereby extending renewable energy availability beyond solar hours, fulfilling energy storage purchase obligations, and enhancing grid resilience, a company statement said.
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.
JSW Energy begins construction as part of its foray into battery storage services
JSW Energy has started construction on a Battery Energy Storage Project (BESS) to enter the energy storage services business, enabling the storage and release of renewable energy. They were awarded a 1.0 GWh battery storage project by SECI, with commissioning expected by June 2025. The company is also developing green hydrogen and steel projects, aiming to achieve 20 GW generation capacity and 40 GWh energy storage capacity by 2030.
India's peak power demand hits a record 250 GW
India witnessed a historic milestone on May 30 as the country's power demand surged to a record-breaking 250 GW, driven by a combination of weather-related loads and the escalating power consumption in both industrial and residential sectors, announced the power ministry on Thursday. The non-solar hours demand also soared to an unprecedented level of 234.3 GW the previous day, marking a significant increase in energy requirements.
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