Renewable

Global emissions likely have peaked as renewable sources take hold

The cost of deploying solar panels and battery technology is due to drop by 19 per cent by 2030, helping deliver record amounts of low carbon power

Suzlon secures India's largest wind energy order from NTPC Green

The 1,166 MW energy project will serve three million households upon completion

India's power emissions must peak by 2026 to align with Paris pact

The world's third-biggest emitter needs $12.4 trillion in investment to reach net zero ahead of its official target of 2070, BNEF said in its New Energy Outlook for India

WRTL Q4FY24 results: Net profit sees a four-fold jump at Rs 54 cr

Waaree Renewable Technologies has posted over four-fold jump in consolidated net profit after tax at Rs 54.18 crore for March quarter FY24 on the back of higher revenues. It had clocked a PAT of Rs 12.28 crore in the year-ago period, the company said in a statement on Friday. Total revenue during the quarter under review also rose to Rs 273.25 crore from Rs 61.49 crore in the year-ago period, it added. Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 75.30 crore as compared to Rs 22.29 crore a year ago. As of March 31, the company's unexecuted order book stands at 2,365 MW. The company's board also approved a dividend of Re 1 of face value of Rs 2 each for FY24.

ReNew constructs 1.94 GW of renewable energy assets, hits 10 GW in capacity

Clean energy firm ReNew on Wednesday said it has completed construction of 1.94 GW of renewable assets in FY24, taking its total capacity to 10 GW. Accounting for assets sold, the company's revenue generating capacity stands at 9.52 GW as on March 31, 2024, the company said in a statement. The company added 1,174 MW of solar and 768 MW of wind energy during FY24. This is one of the highest-ever capacity additions of wind energy among all companies in India in a single year, it stated. ReNew, among the largest clean energy companies globally, announced on Wednesday that it has completed construction of 1.94 GW of RE assets in FY24, taking the cumulative capacity set up by the company to over 10 GW, the statement said. In FY24, ReNew contributed about 10 per cent of the country's total solar and wind energy generation. The company has India's largest wind portfolio of 4.7 GW, representing 10.5 per cent of India's total wind energy capacity, it stated. In 2023-24, ReNew won auction

India to achieve 500 GW renewables target before 2030 deadline: R K Singh

Union Power and New & Renewable Energy Minister R K Singh on Monday said India will achieve its 500 GW renewable energy target before the 2030 deadline. Addressing FICCI's India Energy Transition Summit 2023, Singh also said had India not lost two years due to COVID-19, the nation would have achieved 50 per cent of its power generation capacity from RE non-fossil fuels, by now. India has 424 GW of power generation capacity which includes around 180 GW from non-fossil fuels and another 88 GW is in the works, the minister said. The country has a target of 500 GW of renewable energy capacity by 2030. "We will achieve 500 GW of renewable energy (RE) well before 2030," he said. Singh also said India's energy transition programme is at the top in the world. The RE capacity addition is the fastest in the world. New and Renewable Energy Secretary Bhupinder Singh Bhalla said India added 15 GW of renewable energy in the last fiscal year (2022-23) which would be increased to 25 GW in 2023-2

Biz route taken by India's renewable IPPs to mirror credit quality: Moody's

According to Moody's, the paths chosen by the renewable energy IPPs will have a varying impact on their respective business and financial risk profiles

Tata Power mulls to double capex to Rs 12,000 cr, focus on renewables

Based on the performance, directors have recommended a dividend of 200 per cent, which is Rs two per equity share of Rs one, he stated

Net zero will make or break Aberdeen, one of the UK's wealthiest cities

Oil prices may be booming again, but growing demand for cheap home-grown energy as Russia's war in Ukraine squeezes supplies is giving Aberdeen another reason to shift its focus to renewables

Open to acquisitions in renewable if valuations are right: JSW Energy Jt MD

In a Q&A, Prashant Jain says his firm plans to raise its green energy capacity from 32% now to 55% in two years

Reliance Industries to acquire stake in EV technology firm Altigreen

Based out of Bengaluru, Altigreen is an electric vehicle technology and solutions company for commercial last-mile transportation through 2/3/4 wheeled vehicles.

India adds record high rooftop solar capacity of 521 MW in April-June

India has added 521 MW of rooftop solar capacity in April-June this year, which is the highest capacity installed in a quarter, according to Mercom India report.

IREDA enters into pact with TANGEDCO for renewable energy projects

IREDA on Monday said it has entered into a pact with TANGEDCO for providing technical expertise in developing of renewable energy projects and raising of funds. The memorandum of understanding (MoU) was signed by IREDA Chairman and Managing Director (CMD) Pradip Kumar Das and TANGEDCO CMD Rajesh Lakhoni in the presence of Tamil Nadu Chief Minister M K Stalin. In a statement, the Indian Renewable Energy Development Agency Ltd (IREDA) said "it has signed a MoU with the Tamil Nadu Generation & Distribution Corporation Limited (TANGEDCO), for providing its technical expertise in developing Renewable Energy projects and fund raising." Under the MoU, IREDA will extend its technical expertise to TANGEDCO for renewable energy project development, bid process management, and implementation support. IREDA will also assist TANGEDCO in debt raising through developing financial models, underwriting services for the proposed debt requirement, and conducting pre-market surveys and roadshows to ..

100 districts in country most vulnerable to climate change: Report

All 612 districts in India are vulnerable to climate change, but 100 districts, mostly in the eastern part of the country, are most vulnerable, a study said.

Need $30 bn yearly investment in renewables, strong regulation: Report

Once such a system is in place, India will attract international investments from leading pension funds, especially those in the US

States' dues to renewable power companies at Rs 3,000 crore: CEA

CEA started the portal to collate data for dues in the renewable sector last week

Favourable amendments in RPO norms, strong project pipeline are positives for solar sector: ICRA

The agency says viability of aggressive solar PV bid tariffs hinges on structuring of debt

India, China investing more in renewable technologies: Kerry

India plans to get 40% of its power capacity from non-fossil-based sources by 2030