SOLAR MODULE SUPPLY ORDER
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.
Budget 2024: Import duty on renewable sector components a double-edged sword, need gradual transition, say experts
The green energy sector says certain announcements in the budget can help the country easily meet the government's promise of generating fossil fuel-free energy.
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.
Ganesh Green Bharat IPO booked over 35x on Day 2; Effwa Infra’s issue subscribed nearly 38x
The SME IPO of Ganesh Green Bharat was booked over 35 times so far on the second day of the bidding process. The issue, which closes tomorrow, received bids for 15 crore shares as against 45 lakh shares on offer.
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.
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.
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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.
Waaree Energies supplies 68 MW solar modules to Gensol Engineering
Waaree Energies provided 68 megawatt solar modules to Gensol Engineering for a solar PV project, including bi-facial modules. The Chairman highlighted the project's importance in advancing a greener future and supporting economic growth through reduced carbon emissions and job creation in the renewable energy sector. Waaree Energies is a major Indian solar PV module manufacturer.
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.
Domestic open access solar capacity addition doubles to 1.8 GW in Jan-Mar: Mercom
India added over 1.8 gigawatts (GW) of solar open access capacity in the first quarter of the calendar year of 2024, posting a two-fold increase from 909.3 megawatts (MW) in Q4 2023, the report titled 'Mercom India Solar Open Access Market' said.
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.
Rooftop solar installations fall 26% to 367 MW in January-March: Report
India added 367 MW of rooftop solar in the March quarter. Installations fell nearly 10 per cent quarter-over-quarter from 406 MW and dropped over 24 per cent year-on-year from 485 MW, the report titled 'Q1 India Rooftop Solar Market' said.
India's growing weight will ensure overall global balance remains in favour of freedom, openness: Jaishankar
External Affairs Minister S Jaishankar highlighted India's increasing influence in maintaining a global order favoring freedom and transparency. Addressing the Nikkei Asia Future of Asia Forum, he emphasised the challenges posed by supply chain issues and economic coercion, particularly in light of China's ambitions. Jaishankar also discussed the evolving geopolitical, geo-economic, and geo-technological landscape, stressing the importance of resilience and redundancy in the face of global transformations.
Waaree Energies to supply 445 MW solar modules to Statkraft India
Waaree Energies will supply 445 MW of its 540/545Wp dual glass bifacial modules to Statkraft India for single-location solar projects in Bikaner, Rajasthan. The contract, scheduled for delivery between May and August 2024, aims to revolutionize India's renewable energy landscape and support the nation's net-zero goals.
Vikram Solar bags order to supply 397.7 MWp solar modules to NTPC's Khavda project in Gujarat
Vikram Solar secures 397.7 MWp module supply order for NTPC's Khavda project in Gujarat, powering a significant portion of the 1,255 MW Khavda Solar Project aligning with DCR.
Thermal PLFs to remain healthy amid power demand-supply mismatch: Report
India Ratings and Research (Ind-Ra) has maintained a neutral outlook for the power sector for FY25, predicting that thermal plant load factors (PLFs) will remain healthy due to a demand-supply mismatch. The agency believes that the overall plant load factor of thermal power plants will improve to reach closer to 70% in FY25. This is due to higher power demand, domestic coal production ramp-up, slower capacity additions, and dependence on coal-based generation until sufficient storage capacity is built up for the energy transition towards renewables.
The White House’s green trade war is just getting started
The latest US actions reflect a strategic shift in trade policy and considerations of carbon dumping, EU engagement, and national security implications.
India will soon have solar power waste to fill 720 Olympic-size swimming pools. It has to urgently find solutions.
The country is betting big on solar energy — and rightfully so. But it is not giving equal importance on managing or recycling the waste that would be generated.
L&T's power transmission, distribution business bags multiple orders in India, overseas
Floating solar projects involve mounting solar modules on structures that float in a water body, typically a reservoir/lake/abandoned quarry. Compared to ground-mounted solar plants, floating solar plants do not require land acquisition and typically involve less civil work.
China’s solar panel giants say prices are near the bottom
The companies are trying to turn a corner after solar manufacturers saw profits vanish as a wave of new factories that were aimed at capturing a growing market came online in the past year.
Vikram Solar gets 250 MW module supply order from Gujarat Industries Power Company
Vikram Solar has secured a 250 MW solar module supply order from Gujarat Industries Power Company Ltd (GIPCL), under the government's Approved List of Models and Manufacturers. The high-efficiency, bifacial modules will be manufactured, tested, and installed at a renewable energy park near Khavda, Gujarat.
Grew Energy bags order to supply 200 MW solar equipment
The delivery of solar modules and its spare parts have to be completed spanning over a nine-month duration. "We are equipped with the technology and have the bandwidth to contribute to multiple solar products across the country," Vinay Thadani, CEO and Director of Grew Energy, said in the statement.
Waaree Energies secures 220 MW solar module supply order from Sprng Energy
Waaree Energies is among India's largest manufacturers of solar PV modules with an aggregate installed capacity of 12 GW, as of June 30, 2023.
India to reimpose restrictions on procurement of solar modules from April 1
Import restrictions on solar modules return April 1, aiding local capacity. Exemptions exist for projects till March 31, 2024. Domestic manufacturing capacities are projected to grow significantly by 2026.
Solar module duty sop under ALMM may not continue after March 31
India is considering not extending the solar module import exemption beyond March 31. The Ministry may relax commissioning timelines for modules arriving before the deadline to bridge the supply-demand gap in the solar sector.
Green companies want solar module PLI deadline extended
Another official added that the companies had sought a timeline extension of at least one year. "MNRE has asked the companies to submit a request. We have done that. We have also requested that the bank guarantees not be encashed and any penalties not be levied," he said.
Waaree Energies bags 280 MW solar module supply order from Mahindra Susten
Waaree Energies secures order from Mahindra Susten for 280 MW of AHNAY Series Bi-55 545Wp solar modules. Delivery expected in Q3 next fiscal, order value undisclosed.
Tata Power Solar Systems bags Rs 418 cr order to supply 152 MWp solar modules for NTPC project
Tata Power Solar Systems Ltd (TPSSL) has secured a Rs 418 crore order to supply 152 MWp solar PV modules for NTPC's Nokh Solar PV Project in Rajasthan. The project, part of NTPC's 3x245 MW (735 MW) Nokh Solar Park in Pokhran, Jaisalmer, will be supplied with DCR Solar PV Modules from TPSSL's manufacturing plant in Bengaluru.
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