Explore Business Standard
Don’t miss the latest developments in business and finance.
Solar Project
Homegrown Jakson Green and Singapore-based Blueleaf Energy on Thursday announced their collaboration to develop one GW solar projects in Rajasthan at an investment of USD 400 million (Rs 3,400 crore). The partnership will focus on jointly developing and building gigawatt-scale green energy projects in India, Jakson Green, a leading new energy transition platform, said in a statement. "This collaboration further solidifies our presence as a respected global player in energy transition," said Bikesh Ogra, MD and CEO of Jakson Green. The inaugural 1 GW portfolio, funded through a combination of debt and equity, comprises three solar projects, it added. These projects include Intra State Transmission System (InSTS) and Inter State Transmission System (ISTS) projects with 25-year power purchase agreements (PPAs) secured via competitive bidding from RUVNL, SECI, and NHPC. The three solar projects are expected to be progressively commissioned in 2025-2026. "Blueleaf's development and ..
The government has notified a revised Quality Control Order (QCO) to promote high-quality and efficient solar photovoltaic (PV) products, an official statement said on Wednesday. The Union Ministry of New and Renewable Energy (MNRE) has notified the Solar Systems, Devices, and Components Goods Order, 2025, which revises and supersedes the existing Solar Photovoltaics, Systems, Devices, and Components Goods (Requirements for Compulsory Registration) Order, 2017. "The order aligns with the government's commitment to promoting high-quality and efficient solar photovoltaic (PV) products for sustainable energy development. It aims to enhance product reliability, ensure safety, and support India's ambitious renewable energy targets," the MNRE statement said. The revised order will come into effect 180 days from the date of publication. The order covers Solar PV modules, Inverters to be used in solar PV applications and storage batteries.
ReNew Energy Global Plc (ReNew) on Monday said it has signed an agreement with Anzen to sell entire stake in its wholly owned subsidiary RSWPL at an enterprise value of USD 176 million. Under the agreement, ReNew Private will sell 100 per cent shareholding and economic interest in ReNew Sun Waves Pvt Ltd (RSWPL), which houses a 300 MW operating solar asset to Anzen India Energy Yield Plus Trust (Anzen). In a regulatory filing, ReNew said it "announces the signing of definitive agreement to sell RSWPL to Anzen. The transaction is expected to close post completion of contractual obligations and conditions precedent including receipt of lender approval". The enterprise value determined under the agreement is USD 176 million, subject to net current assets and other such adjustments as provided in the definitive documents. Additionally, USD 17 million is expected to be received as an earn-out on account of change in law proceeds pertaining to increase in basic customs duty (BCD), safegu
Adani Group's solar power contract, which is at the centre of bribery allegations, has tariffs that are lower than competition and can find new buyers in case the pact is cancelled, according to analysts. US authorities have charged Adani Group Founder-Chairman Gautam Adani and others for being part of a scheme to offer USD 265 million bribe to Indian officials to gain a contract to supply 8 gigawatt of electricity generated from solar energy by Adani Green Energy Ltd (AGEL). The group has denied all charges. "If Adani promoters are found guilty, we believe the size of potential penalty is manageable given it is up to three times the value of the bribe," Nomura said in a report. The brokerage said there are about 1.8 GW solar projects commissioned in Gujarat from February-March 2024, with tariff of Rs 2.42 per unit under the 25-year power purchase agreements (PPAs). These operational projects are running under 5 special purpose vehicles, namely Adani Green Energy Twenty Four A Ltd
Tata Power Renewable Energy on Wednesday said it has secured a 400 MW wind-solar hybrid project from Maharashtra State Electricity Distribution Company Ltd (MSEDCL). Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, has successfully secured a Letter of Award (LoA) from MSEDCL, a wholly-owned entity under the Maharashtra government, for the development of a 400 MW wind-solar hybrid project in Maharashtra, a statement said. The company said that the LoA includes an original contracted capacity of 200 MW, along with a greenshoe option for an additional contracted capacity of 200 MW. This would be the largest renewable energy project in Maharashtra till date for TPREL. The LoA was issued through a competitive bidding process conducted via an electronically-based reverse auction portal. The project is expected to be completed within 24 months from the signing of the Power Purchase Agreement (PPA) between TPREL & MSEDCL and will play a crucial role in cutting carbon ..
JSW Energy on Tuesday said that its arm JSW Neo Energy has bagged a 600 MW wind-solar hybrid power project from Maharashtra State Electricity Distribution Company (MSEDCL). Subsequent to this, the company's total locked-in generation capacity has increased to 18.2 GW, which includes a total locked-in hybrid capacity of 3.8 GW (including FDRE), a company statement said. According to the statement, JSW Neo Energy, a wholly owned subsidiary of JSW Energy (company), has received Letter of Award (LoA) for 600 MW of wind-solar hybrid power project including 400 MW allotted under greenshoe option from MSEDCL against MSEDCL Phase IV. The company, however, did not disclose any financial details. The company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently. This project enhances the company's energy solution offerings and supports its transition towards becoming an energy products and services company. JSW Energy has total locked-in generation cap
Smoke swirls from brick kiln chimneys rise up lazily, clouding around sleek solar panels that reflect the monsoon skies above, the ancient and the very new melding easily across the flat lands of western Uttar Pradesh where solar energy is changing lives in ways big and small. The harsh summer of endless days of the sun beating down mercilessly has given way to rain and sullen clouds. But the stored solar energy in the panels continues to do its work, bringing down pollution in the traditional brick kiln industry and providing electricity, and digital connectivity, to villages in the area. Eight brick kilns in Aligarh district's Kodiaganj, Pilakhana and Akrabad have already made the pioneering shift from coal to solar panels to meet their electricity needs. It's a fraction of the district's 555 brick kilns according to a report by the UP Pollution Control Board but at least a beginning. Om Prakash Sharma, who owns a brick kiln, said the initial costs were steep at Rs 7 lakh but
The largest floating solar project in central and north India generating 90 MW energy has been commissioned at Omkareshwar in Madhya Pradesh, a state minister has said. The Omkareshwar Floating Solar Project, costing Rs 646-crore, was commissioned on August 8, state Renewable Energy Minister Rakesh Shukla said in a statement. This project was developed under the Union Ministry of Renewable Energy and it is the biggest solar park in India and largest floating solar project in central and north India, he said. The project is executed by SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN, the minister said, adding that on the commissioning of the project, the total installed capacity of SJVN has increased to 2466.50 MW. The project is likely to generate 196.5 million units of electricity in the first year and 4,629.3 million units in the 25 years, he said. After commissioning, the project will reduce carbon emissions by 2.3 lakh tonnes and contribute significantly to
Tata Power Solar Systems (TPSSL) on Tuesday said it has commissioned 100 MW solar PV project, coupled with 120 MWh utility scale battery energy storage systems (BESS), at Rajnandgaon in Chhattisgarh. TPSSL bagged the Rs 945-crore project on EPC (engineering procurement construction) basis from the Solar Energy Corporation of India Ltd (SECI) in December 2021, a statement said. The order scope included engineering, design, supply, construction, erection, testing, O&M, and commissioning of the projects. According to the statement, TPSSL, a fully integrated solar company in India and a wholly owned subsidiary of Tata Power Renewable Energy Ltd (TPREL), has successfully commissioned the country's largest solar and BESS project comprising 100 MW Solar PV Project coupled with 120 MWh Utility Scale Battery Energy Storage System (BESS), at Rajnandgaon in Chhattisgarh. The TPSSL team displayed exceptional project execution and engineering prowess during the project execution, which faced ..
Apraava Energy on Thursday said it bagged a 250-MW solar energy project from state-owned NHPC Ltd. The project, won through the e-reverse auction mechanism at a walk-out tariff of Rs 2.53 per kWh, is scheduled to be completed within 24 months, a company statement said. This is Apraava's first greenfield solar power project through the auction route. The interstate transmission system (ISTS) connected solar energy project has been awarded by the NHPC Ltd in Rajasthan, the statement said. Rajiv Ranjan Mishra, Managing Director, Apraava Energy, said in the statement, "We are excited to strengthen our solar energy portfolio with this win in Rajasthan, a pivotal state driving the growth of renewable energy in India." The Power Purchase Agreement (PPA) between the NHPC and Apraava Energy is for a period of 25 years from the scheduled commissioning date. As part of the agreement, Apraava Energy will be responsible for design, construction and operation of the project for the PPA tenure.
Avaada Energy on Tuesday said it has bagged a 1,400 MW solar project under tariff-based competitive bidding hosted by state-run hydro power giant NHPC Ltd. The project won through an e-reverse auction process showcases Avaada Energy's commitment to competitive pricing with a winning tariff of Rs 2.53 per kWh, as per a company statement. "Avaada Energy, a key player in the Avaada Group's diversified portfolio is proud to announce its latest achievement -- securing a 1,400 MWp Solar Project through an e-reverse auction hosted by NHPC Ltd, the Renewable Energy Implementing Agency of the Government of India," a company statement said. The power purchase agreement will span a period of 25 years, with the project slated for completion within a 24-month timeframe. Upon commissioning, the solar facility is projected to produce an estimated 2,500 million units of renewable energy each year, contributing significantly to India's green energy supply and powering nearly 1.8 million rural ...
The domestic solar photovoltaic (PV) module manufacturing capacity is expected to touch 60 gigawatts (GW) by 2025, according to Icra. At 60 GW, there will be a 62 per cent growth in module manufacturing capacity compared to the current level of 37 GW, the rating agency said on Monday. It is likely to increase to nearly 100 GW as the capacity awarded under the production-linked incentive (PLI) scheme comes on stream, led by the strong policy support and growing demand from domestic solar power installations, Icra said. The solar PV module supply chain is dominated by China, with over 80 per cent share in manufacturing capacity across polysilicon, wafer, cell, and modules. In comparison, the manufacturing capacity in India is relatively low and is largely restricted to the last manufacturing stage. The PLI scheme is expected to change this, with integrated module units expected to come up in India over the medium term. The Government of India (GoI) has awarded incentives for setting
Diversification of solar manufacturing and supply chains besides building adequate renewable energy storage are necessary to meet the net zero emission targets, Union Minister R K Singh told ISA member countries on Wednesday. Without these, the net zero target is going to remain only a goal, Singh, who is the president of the International Solar Alliance (ISA), said. "Net zero will remain only a goal unless the world gets together to solve the problems of lack of diversification of solar manufacturing capacity and associated supply chains," Union Power and New & Renewable Energy Minister said at a session of the ISA conference. The ISA president also said that storage remains critical for greater utilisation and round-the-clock provision of renewable energy. The developed world kept talking about the need for energy transition, they did not do anything about it. "Today, about 90 per cent of the solar manufacturing capacity is in one country, mostly dependent on one chemistry, ...
A solar-powered tech venture that is combating food waste in India is among 15 worldwide finalists competing for the GBP 1 million 2023 Earthshot Prize, founded by Britain's Prince William and dubbed the Eco Oscars'. S4S Technologies, founded in 2013 by seven university friends Nidhi Pant, Vaibhav Tidke, Swapnil Kokte, Ganesh Bhere, Shital Somani, Tushar Gaware and Ashwin Pawade, is shortlisted in the Earthshot Prize to Build a Waste-Free World category as the finalists were unveiled by the royal during a visit to New York on Tuesday. S4S, which stands for Science for Society, made the cut for its work in tackling food waste, rural poverty, and gender inequality by helping smallholder female farmers preserve and market surplus produce. The organisation provides rural communities with cheaper solar-powered conduction dryers and food processing equipment to prepare their crops on-site, rather than using cold storage or other more expensive methods of conventional industrial food ...