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Renewable Energy Sector

India's renewable energy capacity rises 16% to nearly 210 GW by December

India's renewable energy installed capacity increased by 15.84 per cent to 209.44 GW by December 2024 from 180.80 GW a year ago, marking a record expansion, an official statement said on Monday. The total capacity added during 2024 more than doubled to 28.64 GW from 13.05 GW added a year ago. In 2024, solar power spearheaded this growth with addition of 24.54 GW, registering 33.47 per cent year-on-year rise in its cumulative installed capacity to 97.86 GW in 2024, the statement by Ministry of New & Renewable Energy (MNRE) said. Wind power addition was 3.42 GW in 2024, taking the total wind capacity to 48.16 GW, a growth of 7.64 per cent from 2023. Bioenergy installed capacity rose from 10.84 GW in December 2023 to 11.35 GW in December last year. Small hydro power projects saw incremental growth, with installed capacity increasing from 4.99 GW in 2023 to 5.10 GW in 2024. MNRE under Union Minister of New and Renewable Energy Pralhad Joshi has been taking various key initiatives to

India's renewable energy capacity rises 16% to nearly 210 GW by December
Updated On : 13 Jan 2025 | 9:59 PM IST

Waaree Energies board approves Rs 850 cr investment in energy facilities

Waaree Energies Ltd on Monday said its board has approved three investment proposals aggregating Rs 850 crore to set up electrolyser and storage cell manufacturing facilities. The board also approved capital expenditure (capex) of Rs 130 crore in invertor business through its wholly-owned subsidiary Waaree Power Private Limited. The board approved "capital expenditure of Rs 551 crore and investment of Rs 200 crore for 300 MW electrolyser manufacturing plant in its wholly-owned subsidiary Waaree Clean Energy Solutions, under the PLI Scheme," Waaree Energies said in an exchange filing. It also approved a capital expenditure of Rs 2,073 crore and an investment of Rs 650 crore for setting up a 3.5 GWh Lithium-Ion Advanced Chemistry Storage Cell manufacturing plant in its wholly-owned subsidiary Waaree Energy Storage Solutions. The capex will be funded by a mix of debt and internal accruals, the company said. The board further approved the appointment of Amit Paithanka, Chief Executive

Waaree Energies board approves Rs 850 cr investment in energy facilities
Updated On : 23 Dec 2024 | 3:59 PM IST

Solar sector deals likely to pick pace in 2025, say industry officials

As of October, nearly 10 leading RE companies in India were actively seeking buyers for 20 GW capacity

Solar sector deals likely to pick pace in 2025, say industry officials
Updated On : 18 Dec 2024 | 7:41 PM IST

Inox Wind secures 60 MW equipment supply order from Serentica Renewables

Inox Wind (IWL) on Wednesday said it has secured a 60 MW equipment supply order from Serentica Renewables. This order is for the supply of 3 MW class wind turbines. This order is to be delivered within H1 CY25 and it will be installed at the hybrid renewable energy project site being developed by Serentica Renewables in Karnataka, the company said in a statement. Additionally, IWL will provide multi-year post-commissioning Operations & Maintenance (O&M). The power generated from this project will be supplied to Serentica's partners, including the Vedanta Group. Kailash Tarachandani, Group CEO, Inox Wind said in the statement, "We are extremely pleased to establish our relationship with Serentica with this 60 MW equipment supply order. Akshay Hiranandani, CEO of Serentica Renewables, said, "Our collaboration with Inox Wind for this 60 MW wind project in Karnataka marks another significant milestone in our journey to deliver reliable and green energy to our partners, including .

Inox Wind secures 60 MW equipment supply order from Serentica Renewables
Updated On : 18 Dec 2024 | 1:12 PM IST

India's RE capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

India's renewable energy capacity addition almost doubled to 15GW during the April-November period of this fiscal compared a year ago, indicating India's commitment towards the target of 500GW non-fossil capacity by 2030, Union New & Renewable Energy Minister Pralhad Joshi said on Tuesday. Addressing at CII International Energy Conference & Exhibition 2024 here, Joshi said, "In fact, over the past decade, under the visionary leadership of Prime Minister Narendra Modi, India has charted an extraordinary path in the renewable energy sector. Today, India is one of the world's most promising nations in the clean energy space." Between April-November of the current financial year, India added almost 15 GW of renewable energy capacity, nearly double the 7.54 GW added during the same period last year, he said. At present, India's total installed capacity of the non-fossil fuel sector has touched 214 GW, over 14 per cent increase compared to the same month last year. The government is

India's RE capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi
Updated On : 17 Dec 2024 | 1:34 PM IST

JSW Energy gets RE projects, achieves total locked-in capacity of 20 GW

JSW Energy on Monday said it has secured multiple renewable energy projects in the commercial and industrial power market, achieving a total locked-in generation capacity of 20 GW. The company's locked-in renewable energy commercial and industrial (C&I) capacity stood at 3.1 GW, which includes 2,654 MW of JSW group captive capacity and 445 MW of third-party C&I capacity, a JSW Energy statement said. Currently, the operational C&I capacity of the company stood at 488 MW, it informed. The company's step-down subsidiaries have executed power purchase agreements (PPAs) with DCM Shriram Ltd and Indus Towers Ltd for the supply of renewable energy. These strategic partnerships underscore the company's commitment towards sustainable energy solutions. Subsequent to this, the company's total locked-in generation capacity has increased to 20 GW. "I am pleased to share that JSW Energy has reached the milestone of being a 20 GW generation platform," Sharad Mahendra, Joint Managing ...

JSW Energy gets RE projects, achieves total locked-in capacity of 20 GW
Updated On : 16 Dec 2024 | 11:40 AM IST

Tata Power to invest Rs 1.2 trillion in renewable energy in Rajasthan

Tata Power has announced an investment of Rs 1.2 lakh crore in Rajasthan in various renewable energy related projects including rooftop solar installation and electric vehicle charging infrastructure. Speaking at the Rising Rajasthan Global Investment Summit which started on Monday, CEO and MD of the company Praveer Sinha said the company's investment roadmap was aimed at making Rajasthan a power surplus state through a range of initiatives. "Tata Power's clean energy roadmap for the state would significantly contribute to India's goal of becoming net-zero carbon by 2070 and the state's ambition to emerge as the next clean energy hub in the country," Sinha told reporters after the inauguration ceremony. The initiatives include renewable energy projects with Rs 75,000 crore investment (comprising solar, wind and hybrid projects across key regions like Bikaner, Jaisalmer, and Jodhpur); rooftop solar, transmission and distribution, and EV charging infrastructure. "The investment is ..

Tata Power to invest Rs 1.2 trillion in renewable energy in Rajasthan
Updated On : 09 Dec 2024 | 7:48 PM IST

Suzlon, Jindal Renewables expand partnership with new wind power project

Suzlon's total order book now stands at a highest ever 5.4GW. Its stock soars almost 4% on Wednesday

Suzlon, Jindal Renewables expand partnership with new wind power project
Updated On : 04 Dec 2024 | 5:03 PM IST

Clean energy job growth outpaces fossil fuel sector in India: Report

Energy jobs in India accounted for 1.5% of total employment in India at 8.5 million in 2023

Clean energy job growth outpaces fossil fuel sector in India: Report
Updated On : 15 Nov 2024 | 3:57 PM IST

Govt mulling task force to push for 500 GW renewable energy capacity target

Union Minister Pralhad Joshi has proposed formation of a task force in consultation with the Ministry of Power to push efforts to meet India's ambitious target of having 500 GW renewable energy capacity by 2030. The minister for new and renewable energy has also urged industry players and stakeholders to devise strategies which would help the country meet the target in a time-bound manner. Speaking at an event in Bhubaneswar, the minister proposed the formation of a task force, in consultation with the Ministry of Power, to align the efforts of all stakeholders towards meeting the 500 GW target, the ministry for new and renewable energy (MNRE) said in a statement on Thursday. India has already achieved 212 GW of energy from non-fossil fuel sources and is on track to exceed the 2030 target, he said. The minister stressed the importance of concerted, collaborative efforts among all stakeholders to overcome challenges and expedite progress in the renewable energy sector. Joshi furthe

Govt mulling task force to push for 500 GW renewable energy capacity target
Updated On : 15 Nov 2024 | 2:41 PM IST

IBM acquires Prescinto for renewable energy asset performance management

Prescinto's APM capabilities help organisations simplify operations and maintenance to maximise ROI

IBM acquires Prescinto for renewable energy asset performance management
Updated On : 15 Oct 2024 | 6:57 PM IST

EET Fuels secures $650 mn financing facilities for decarbonisation plans

EET Fuels, owner of UK's Stanlow oil refinery, on Thursday said it has secured USD 650 million in financing and trade credit financing facilities for its decarbonisation plans. "This demonstrates market confidence in the company's decarbonisation strategy," the firm said in a statement. Essar Energy Transition (EET) Fuels is setting a new global benchmark for industrial decarbonisation, becoming the first low carbon process refinery as it will reduce emissions by 95 per cent by the close of the decade. Industrial carbon capture and use of blue hydrogen are at the heart of the company's strategy. The facilities secured to support this strategy include USD 150 million from ABN AMRO Bank, extension and upsizing HCOB and UMTB facility to USD 200 million for receivable financing, and a trade credit financing for USD 300 million with an international oil company. The firm did not reveal details such as coupon rate and tenure. "EET Fuels' continuing operational improvement and delivery o

EET Fuels secures $650 mn financing facilities for decarbonisation plans
Updated On : 03 Oct 2024 | 4:22 PM IST

IBA expects to attract Rs 1,600 cr investment for biogas sector at REI 2024

Indian Biogas Association (IBA) is expecting around Rs 1,600 crore investment in the sector during Renewable Energy India Expo (REI) 2024, beginning on Thursday. IBA, the country's leading body representing biogas operators, manufacturers, and plant planners, is optimistic about the opportunities the high-profile event will bring. Talking to PTI, IBA Chairman Gaurav Kedia said, "REI 2024 is expected to see investment announcements of around Rs 1,600 crore in the biogas sector". He stated that the REI Expo 2024 is expected to attract 20 per cent more participation compared to last year. Kedia emphasised the vast untapped potential of the biogas sector. He pointed out that, despite its current contribution to the energy mix being less than one per cent, the sector is poised for substantial growth and could play a pivotal role in India's energy future by 2030. The association is confident that the expo will generate significant momentum for the biogas industry. The Bio-Energy Pavil

IBA expects to attract Rs 1,600 cr investment for biogas sector at REI 2024
Updated On : 29 Sep 2024 | 1:23 PM IST

Over Rs 3 trn needed each year to reach 440 GW RE capacity by 2030: ICRA

An investment of over Rs 3 lakh crore is needed every year in the renewable energy sector to take India's installed green capacity to 440 gigawatt, Icra experts said on Friday. "We expect India to have 440 gigawatt installed capacity of renewable energy by 2030," Vikram V, Vice President & Co-Group Head - Corporate Ratings, ICRA Ltd said at a media roundtable. The estimated capacity would require incremental investment of at least Rs 3 lakh crore every year over the next five to six years, Girish Kumar Kadam, Group Head Corporate Sector Ratings at ICRA Ltd. He further said to meet the renewable purchase obligation (RPO) target of 43 per cent by 2030, the renewable energy capacity should more than double to 440 GW from the current level of 200 GW. The government's target is to have 500 gigawatt of installed renewable energy capacity by 2030. Sharing his outlook for the RE sector, Kadam said India has made significant progress in renewable energy capacity addition with a strong ...

Over Rs 3 trn needed each year to reach 440 GW RE capacity by 2030: ICRA
Updated On : 20 Sep 2024 | 10:36 PM IST

Hero Future Energies plans to invest $20 bn in renewables over 6 years

Indian companies are expanding their renewable energy capacity, with the government aiming to add at least 500 GW of clean energy by 2030 to reduce emissions

Hero Future Energies plans to invest $20 bn in renewables over 6 years
Updated On : 18 Sep 2024 | 12:05 AM IST

Tata Power to invest up to $9 bn to expand renewable energy capacity

Tata Power, which currently has 5 GW renewable energy capacity in large projects, will add another 5 GW capacity in the next one to two years and expand that to more than 20 GW by 2030

Tata Power to invest up to $9 bn to expand renewable energy capacity
Updated On : 17 Sep 2024 | 10:38 PM IST

Avaada Group plans to invest Rs 5,000 cr in Madhya Pradesh's energy sector

Avaada Group focuses on the development of large-scale projects for solar modules, renewable energy production, green hydrogen

Avaada Group plans to invest Rs 5,000 cr in Madhya Pradesh's energy sector
Updated On : 17 Sep 2024 | 12:15 PM IST

Banks, FIs to invest Rs 32.5 trillion in renewable energy by 2030: Centre

RE project developers commit 570 GW of capacity addition

Banks, FIs to invest Rs 32.5 trillion in renewable energy by 2030: Centre
Updated On : 16 Sep 2024 | 11:43 PM IST

PM inaugurates 4th Global Renewable Energy Investor's Meet in Gandhinagar

The three-day conference is anticipated to draw over 10,000 delegates, including influential figures from government, industry, and financial sectors

PM inaugurates 4th Global Renewable Energy Investor's Meet in Gandhinagar
Updated On : 16 Sep 2024 | 1:09 PM IST

India's renewable energy sector fuels hiring boom in race to net-zero goal

The renewable energy sector has experienced a remarkable surge in jobs, with a staggering 23.7 per cent increase in FY24, compared to 8.5 per cent in FY23

India's renewable energy sector fuels hiring boom in race to net-zero goal
Updated On : 13 Sep 2024 | 2:53 PM IST