SOLAR
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.
Sahaj Solar IPO opens for subscription. Check issue size, price band, GMP and other details
Sahaj Solar IPO: Sahaj Solar's Rs 52.26 crore SME IPO opened on July 11, and will close on July 15. The shares, priced at Rs 171-180, will be listed on NSE SME; size 29.2 lakh shares, lot size 800.
China building more wind, solar capacity than rest of world combined: report
China currently has a total of 339 gigawatts (GW) of capacity under construction, including 159 GW of wind and 180 GW of solar.
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.
China launches investigation in response to EU's probe of solar, wind power and other products
China's Commerce Ministry announced an investigation into alleged unfair EU trade practices in wind power, photovoltaics, and security equipment. Initiated by China's Chamber of Commerce for Import and Export of Machinery and Electronic Products, the probe follows EU investigations into Chinese subsidies. The investigation is set to conclude by January 10, 2025.
Rajasthan Budget: State FM Diya Kumari makes four big announcements to promote solar energy
Rajasthan Finance Minister Diya Kumari announces significant solar energy initiatives in state budget, such as model solar villages, 2 MW solar plant, and solar-powered government offices. The budget aims to cater to all sections of society.
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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.
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.
L&T bags solar power projects in Middle East
L&T's renewable arm won orders for two 3.5 GW Solar PV plants in the Middle East. Projects include grid interconnections with soon-to-start construction, valued at Rs 10,000-15,000 crore. Boosting its green portfolio, L&T is a USD 27 billion multinational. Shares traded at Rs 3,600, down 0.78% on BSE, noted by Chairman S N Subrahmanyan.
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.
Acme Solar Refiles IPO Papers with Sebi to Raise Up to ₹3,000 crore
Acme Solar Holdings files IPO prospectus to raise funds, targeting revenue from operations and profit after tax. The company plans to utilize proceeds for outstanding borrowings and general corporate purposes, with Nuvama Wealth Management involved. Acme Solar's portfolio includes firm and dispatchable renewable energy projects, serving off-takers like central government-backed entities, along with wind energy projects.
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.
Renewable energy firm ACME Solar Holdings files papers for Rs 3,000-crore IPO
The Gurugram-based company's proposed IPO is a combination of fresh issue of shares worth Rs 2,000 crore and an offer for sale (OFS) of shares valued Rs 1,000 crore by ACME Cleantech Solutions, according to the DRHP. The offer also includes a reservation for a subscription by eligible employees. The company may consider issue of securities to the tune of up to Rs 400 crore as a "pre-IPO placement". If such placement is completed, the fresh issue size will be reduced.
Big movers on D-Street: What investors should do with Kotak Bank, Solar Industries, and Max Health
Equity indices Sensex and Nifty hit lifetime highs but closed flat amid profit-taking in the banking and telecom sectors. Solar Industries rose 8.23%, Kotak Bank fell 2.49%, and Max Health dropped 4.46% Wednesday.
Solar Industries shares surge 11%, crosses 1 lakh crore market cap mark
Solar Industries stock skyrockets to a new high, surpassing 1 lakh crore market cap. Strong performance, explosive innovations, and market resilience drive the surge despite external market challenges.
World's largest solar plant has five million PV panels. Where is it located and how much electricity will it produce? Know in detail
China's state-controlled firm China Green Electricity Investment of Tianjin has built the world's largest solar plant in Urumqi of its Xinxiang province. It has more than five million PV panels.
Where can you see the Northern Lights tonight? Everything you may like to know
The Northern Lights, or aurora borealis is a natural light display in Earth's sky. These are seen when the highly charged particles carried by solar storms are reflected to the poles by the Earth's magnetic field.
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.
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.
Peak power demand hit 229.6 GW on Saturday
India's peak power demand hit 229.6 GW on May 18 during a severe heatwave, meeting the estimated 235 GW. Last year's peak was 243 GW in September despite monsoon deficits. Maximum temperatures reached 46 degrees Celsius in affected regions, leading to high electricity demand.
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.
Coal's share in India's power generation capacity drops below 50% for 1st time since 1960s
India's share of coal in its total power generation capacity dropped below 50% in Q1 2024, marking the first time since the 1960s. Renewable energy accounted for 71.5 percent of the 13,669 MW power generation capacity added by India in Q1 2024. This trend is well ahead of India's target of achieving 50% cumulative power generation capacity from non-fossil fuel-based sources by 2030. The decline in coal's share mirrors a global trend, with demand for coal in G7 countries hitting record lows in 2023. G7 countries pledged to phase out all unabated coal power generation by 2035.
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."
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.
Pre-emptive steps, better planning help meet peak power demand in April
India copes with high power demand during heat wave, hitting 224 GW last month. Major load from air conditioners. Heatwave continues till May 6. Majority electricity from coal-based power, with growth in solar and wind power.
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