SOLAR SECTOR
India has been very successful in space sector in last 20 yrs: Former NASA astronaut
NAS Over Mars and landing on the moon. He expressed excitement for India's upcoming manned space mission, with two astronauts set to be trained by NASA. Additionally, India is developing its own space station, the Bharatiya Antariksha Station, expected to be operational by 2035.
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.
HDFC Defence Fund gave 145% return before restriction on fresh investment kicks in
The scheme is benchmarked against Nifty India Defence Index TRI. The fund aims to capitalise on the opportunities in the space and has seen good interest from investors. The government's focus on modernising its defence forces and push toward self-reliance should drive the long-term growth of the sector. As global geopolitical tensions rise, many nations are spending on enhancing defence capabilities.
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: Agriculture players want Sitharaman to focus on climate-smart options & solar-based irrigation
The agriculture sector is urging the upcoming budget to prioritize climate-smart agriculture, including innovations like solar-powered irrigation and rainwater harvesting. It seeks expanded storage capacities and improved transportation networks to reduce wastage and boost farmers' incomes. Increased investment in rural infrastructure, collaboration between the government and private sector, and emphasis on sustainability and urban farming are also highlighted.
Godrej Electricals commissions 12.5 MWp rooftop solar project in MP
On Monday, Godrej & Boyce's business unit Godrej Electricals & Electronics announced the commissioning of a 12.5 MWp rooftop solar project for a textile facility in Madhya Pradesh. The project, spread over 1 million square feet of manufacturing sheds, is one of the three largest rooftop solar installations in India and the first in the state. It aims to provide green energy to the textile facility, leading to an estimated annual saving of 17 million kWh of power.
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Budget 2024: EEPC India pushes for export boost, calls for higher interest subvention
EEPC India has also proposed that MSME manufacturing units that are Partnership/LLP/Sole Proprietor be given an Income Tax slab of 25% with the condition that they plough back this extra 10% in the business.
Buy Solar Industries India, target price Rs 13250: ICICI Securities
Solar Industries India Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 110128.66 Crore) operating in Chemicals sector.
India asks utilities to order $33 billion in equipment this year to boost coal power output
India's government plans a $33 billion equipment order to accelerate coal-fired power capacity additions amid soaring electricity demand. Major firms like NTPC and Adani Power are expected to lead tendering, aiming to add 31 GW in 5-6 years. The move follows record-high power demand and recent supply challenges, prompting urgent action to bolster infrastructure.
Transforming India's power grid: Highlights from the Transmission & Distribution Conclave 2024
The conclave that took place at KSH Infra Park in Pune, Maharashtra on June 13, brought together industry leaders, experts, and enthusiasts to explore the transformative possibilities within the transmission and distribution industry.
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.
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.
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.
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.
PLI scheme to attract Rs 3-4 lakh cr investments over 4 yrs; pvt sector capex may accelerate: Icra
Production-Linked Incentive (PLI) scheme is projected to draw investments worth Rs 3-4 lakh crore over four years, creating 2 lakh jobs. Icra Executive VP K Ravichandran foresees private sector capex growth in sectors like oil, gas, metals, healthcare, and cement, with potential tax breaks to boost disposable income for higher investments.
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.
India's power sector anticipates healthy growth in FY2025; demand seen remaining strong at around 6%
The healthy demand growth continued in the first two months of FY25 at over 10 per cent supported by a favourable base. The report stands validated by the record maximum power demand of 250 GW on May 30, as announced by the Ministry of Power.
Avaada Energy secures Rs 315 crore finance for captive solar project in Karnataka
Avaada Energy secured Rs 315 crore financing from Aseem Infrastructure Finance ltd (AIFL) for a solar project in Karnataka. It will be developed under a long-term captive Power Purchase Agreement (PPA) with Karnataka Milk Federation (KMF). The funding from AIFL demonstrates Avaada's project financing capability and strategy. The project, located in Kalaburagi district, is expected to be completed in Q3 FY25.
If Modi is re-elected, these sectors will get his most attention
Prime Minister Narendra Modi has pledged to propel India to become the world's third-largest economy if re-elected for a third term. His ambitious 100-day agenda post-election includes prioritizing manufacturing, new-age technology, infrastructure development, and clean energy sectors. The government aims to implement reforms to boost economic growth and attract foreign investment.
India may add 25 GB wind energy capacity by 2028, need Rs 2 lakh crore: Crisil
India is set to significantly boost its wind energy capacity by adding nearly 25 gigawatts between fiscal years 2025 and 2028, driven by the increasing need for renewable energy and grid balancing. The government's target to auction 50 GW of renewable projects annually and stable average tariffs reflect India's commitment to sustainable energy solutions.
Zinc demand in India likely to double in next 5-10 years
The demand for zinc in India depends largely on the growth of the steel market as zinc is mainly used to galvanise steel to protect it from corrosion. "I see a doubling of the demand (for zinc) in the next five to 10 years. The market for primary and refined zinc in India is currently close to 800 to 1,000 tonnes (per annum) and has a great opportunity to increase with all the developments that we are witnessing in India."
'Global interest in India encouraging for local industry': Sanjiv Puri
Sanjiv Puri, chairman of ITC, highlighted the global interest in the Indian economy at the CII Annual Business Summit 2024, emphasizing India's success in the digital economy and renewable space sector, showcasing public-private partnerships for global success.
Indian Army reduces ammunition imports, boosts indigenous production under 'Make in India' policy
The Indian Army has significantly reduced its dependency on imported ammunition thanks to the 'Make in India' policy. By leveraging private sector capabilities and public sector firms, the Army aims to cease most ammunition imports within a few years. This shift not only cuts import costs but also enhances export potential. Key industry players, including Munitions India Limited and Solar Industries Limited, play crucial roles in this transition, ensuring readiness for emergencies.
Silver prices may hit Rs 1 lakh milestone in a year on solar, EV boost
The demand for silver is on the rise, driven by fast-growing industries like solar panels and electric vehicles. Analysts predict a surge in silver prices, with some projecting it to reach Rs 1 lakh per kg within a year. Factors such as bullish sentiments in emerging markets, increased investment in clean energy, and optimism regarding stimulus measures contribute to the bullish outlook.
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.
Tata Power to target 20% share in PM Surya Ghar Muft Bijli Yojana: CEO
"The expectation is that in the next 4-5 years, about 25-30 GW of capacity will be added. We are looking to cover about 20% of this but it will be over five years. It will be flat in the initial years but possibly from the second or third year, we will see much more capacity getting added."
Solar stocks outshine with up to 1,318% return in 1 year. Who’s driving the bull run?
Waaree Renewable Technologies, a smallcap solar company, has emerged as the leading gainer in the solar sector, boasting an astounding annual return of 1,318%. It is followed by WAA Solar with a gain of 561%, Zodiac Energy with 393%, and SJVN with 236%.
Waaree Energies, Ecofy partner to offer finance for solar rooftop projects
Through the initiative, the company aims to accelerate the solarisation of over 10,000 rooftops across households and MSMEs (Micro, Small & Medium Enterprises).
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