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KPI Green Energy on Thursday posted nearly 36 per cent rise in consolidated net profit to Rs 43.04 crore in the March quarter mainly on the back of higher revenues. The consolidated net profit of the company was Rs 31.77 crore in the year-ago period, the company said in a BSE filing. The company's total revenue increased to Rs 292.96 crore during the quarter from Rs 184.41 crore a year ago. The consolidated net profit during the entire FY24 also increased to Rs 161.65 crore from Rs 109.62 crore a year ago. The board has also recommended final dividend at 2 per cent, i.e. Re 0.20 per equity share of the face value of Rs 10 each for the financial year 2023-24, subject to approval of the shareholders at the upcoming annual general meeting of the company.
India has reported a 44 per cent fall in solar installations at 7.5 gigawatt in 2023 due to land acquisition-related issues, research firm Mercom Capital said on Thursday. According to the US-based research firm's latest report, a total of 13.4 gigawatt (GW) solar capacity was installed in the country in 2023. As of December 2023, the cumulative installed solar capacity stood at 72 GW. Of which utility-scale projects accounted for 85.4 per cent, and rooftop solar accounted for 14.6 per cent, the report said. "In 2023, large-scale solar installations fell 51 per cent to 5.8 GW from 11.7 GW in 2022. Extensions granted to several large-scale projects and delays primarily due to land (acquisition) and transmission (connectivity) issues impacted capacity additions during the year. Large-scale solar accounted for 77.2 per cent of annual solar capacity additions, and rooftop solar contributed 22.8 per cent," it said. Rajasthan followed by Karnataka, and Gujarat were the top three states f
Delhi Chief Minister Arvind Kejriwal on Monday said that under the Delhi Solar Policy 2024, people installing rooftop solar panels at home will get generation-based incentives. He said such consumers will be paid for solar power generation. Under the policy, all government buildings having an area of 500 square metres will have to mandatorily install rooftop solar panels in the next three years, Kejriwal further said. Delhi Power Minister Atishi said the solar policy was approved by the Cabinet two days back and it would be notified within 10 days. The 2016 policy of the Delhi government enabled the deployment of over 250 MW of rooftop solar plants within the city and around 1,250 MW of utility-scale solar plants, totalling 1,500 MW. This meets 7.2 per cent of Delhi's annual electricity demand.
India has initiated an anti-dumping probe into imports of aluminium frames for solar panels from China following a complaint by a domestic manufacturer, according to a notification. The commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) is probing the alleged dumping of 'aluminium frame for solar panels/modules' originating in or exported from China. The application for the investigations has been filed by Vishakha Metals. The DGTR in a notification said the applicant has alleged that the product is exported by China into India at dumped prices in significant quantities for a prolonged period and that is impacting the industry. "On the basis of the duly substantiated written application by the domestic industry...on the basis of prima facie evidence submitted by the domestic industry...the authority, hereby, initiates an anti-dumping investigation," the notification said. The product plays a fundamental role in the overall assembly of the solar ...
Sri Lanka intends to seek an Indian or Chinese credit line for the purchase of solar panels as a solution to mitigate the high cost of electricity tariffs, Power and Energy Minister Kanchana Wijesekara said on Tuesday amid calls by the influential Buddhist clergy to protest against the rising electricity price. We have the problem of foreign exchange, making it difficult to pay for imports. One solution we have to think is to have a credit line from India or China as panels are imported from them," Wijesekara told parliament. In August, Sri Lanka hiked the electricity tariff by an average of 75 per cent, after nine years. The government is facing criticism from the Buddhist clergy, who claim that their monthly bills had reached unbearable levels. The influential Buddhist clergy has called on the public not to pay the electricity bills in protest. Wijesekara said there are over 48,000 consumer connections for religious places. Over 15,000 of them were consuming less than 30 units