Solar Power In India

Blueleaf Energy to invest $400 mn in Jakson Green's India solar assets

Investment will be made in three solar projects, which are expected to be commissioned in 2025-2026 and will be funded through a combination of debt and equity, the companies said

CRI Pumps bags Rs 754 crore deal from MSEDCL, to supply 25,000 solar pumps

With this empanelment, CRI Pumps is poised to play a pivotal role in promoting the adoption of renewable energy solutions, powering Maharashtra's agricultural landscape

Don't depend on freebies, produce own solar power, says Prahlad Joshi

Union Minister for Renewable Energy Prahlad Joshi urged people on Thursday not to be dependent on the governments for freebies, but to produce their own solar power. Joshi attended a consultative meeting with the consumers, electricity supply company (ESCOM) officials, and people's representatives to discuss Surya Ghar Muft Bijli Yojana here on Thursday. "I will not comment on what the motives were behind the distribution of free power generated using environmentally harmful core sector material. But sustainability in the power sector is going to be the key to a safer future for the country," said Joshi, who is also the Union Minister of Consumer Affairs, Food and Public Distribution. According to Joshi, Surya Ghar Muft Bijli Yojana launched by Prime Minister Narendra Modi on February 15, 2024 aims to provide free electricity to households in India by providing a subsidy to install solar panels on their roofs. The subsidy will cover up to 40 percent of the cost of the solar panels.

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

Tata Power Renewables Energy commissions 431 MW DC solar project in MP

Tata Power on Tuesday said its arm Tata Power Renewables Energy has commissioned a 431 MW DC Solar project in Neemuch, Madhya Pradesh. Spanning across 1,635.63 acres, the project features a unique combination of single-axis trackers and bi-facial modules, thereby setting a new benchmark for solar energy generation in India, a Tata Power statement said. This innovative integration has boosted the efficiency of the entire system by over 15 per cent, enabling peak power supply for extended hours, it added. "We are thrilled to announce the successful commissioning of the 431 MW DC solar project in Neemuch," Deepesh Nanda, CEO and Managing Director, Tata Power Renewable Energy Ltd, said. The project contributes to sustainability with an estimated CO2 offset of 7,80,300 tonnes. "This project not only demonstrates the viability of cost-effective solar energy, with a winning bid price but also highlights the potential of sustainable energy solutions to drive India's green energy transitio

India extends operation of imported coal-based power plants: Circular

Mandate comes despite the country's coal fired power output falling for a second straight month in September on an annual basis due to slower growth in electricity usage and surge in solar generation

Eastman Auto & Power plans to achieve turnover of Rs 10,000 cr by FY26

Solar rooftop solutions provider Eastman Auto & Power Ltd on Thursday said it plans to achieve a turnover of Rs 10,000 crore by 2025-26 aided by capacity expansion on renewal energy side. The company had posted a turnover of about Rs 3,600 crore in 2023-24, according to a statement. Committed to sustainable and profitable growth, the company plans to achieve Rs 10,000 crore turnover by 2025-26 by investment in building the solar rooftop solutions business alongside mainstay Last Mile E-Mobility Solutions business, Eastman Auto & Power MD Shekhar Singal said in the statement. This goal shall be driven by strategic investments in new power electronics manufacturing facilities for solar inverters (for grid-connected and off-grid solutions), technology partnerships and participation in multiple advanced chemistries for energy storage, he said. To achieve this objective, the company has made some top level changes. The company has appointed Ashok Jain as Chief Finance Officer (CFO)

India's solar output grows at slowest pace in 6 yrs in first half of 2024

The share of the fossil fuel in power output rose to 77.1% in the first half of 2024

High installation cost barrier to adopting solar rooftop power: Report

High cost of installation and lack of skilled workforce are among the top three barriers to adoption of rooftop solar power in India, according to a survey. The survey was conducted by Luminous Power Technologies, involving 4,318 respondents from 5 metros and 8 non-metro cities. About 90 per cent of the respondents of 'Solar Spectrum of New India' survey acknowledge the need for specialized skills in solar panel installation, and 45 per cent believed skilled labour is unavailable locally. "The top barriers to the adoption of solar power in India are shortage of specialized skills, perceived cost implications and accessibility," it said. The study further said that around 59 per cent respondents have concerns over high initial installation costs. "A noteworthy proportion believe that the cost of implementing solar power solutions is slightly more compared to traditional energy sources," it said. This suggests the need to build awareness of financial schemes and avenues available f

Assam CM Sarma lays foundation stone for 25-MW solar power project

A joint venture between the Assam Power Generation Corporation and Oil India Limited, the project will span 108 acres and is expected to cost Rs. 115 crore

Maruti Suzuki to invest Rs 450 crore in renewable energy initiative

Maruti Suzuki India on Wednesday said it will invest Rs 450 crore over a span of three years towards commissioning renewable energy projects linked to solar power and biogas. In FY24, the company invested Rs 120.8 crore in the vertical. The company will increase this investment around four-fold to Rs 450 crore spread over three years starting FY25, it said in a statement. "As we ramp up our production capacity from around 2 million to 4 million by 2030-31, we are also accelerating our efforts to increase the share of sustainable and renewable energy sources across our operations," Maruti Suzuki Managing Director & CEO Hisashi Takeuchi said. Just as the company is bringing multiple technologies in products, it would also focus on multiple renewable energy sources to make the operations greener, he added. The company said it has commenced a pilot biogas plant at its Manesar facility in FY25, harnessing the untapped potential of in-house food waste. The plant is designed to produce .

Avaada Energy secures 1,400 MWp solar projects from state-owned agencies

Avaada Energy on Friday said it has secured over 1,400 MWp solar projects across the country from state-owned agencies. The company has secured projects with capacities of 421 MW, 280 MW, and 700 MW in tenders issued by SECI, GUVNL, and NTPC, respectively, according to a statement. These projects, slated for development in Gujarat and Rajasthan, underscore the company's commitment to expanding its renewable energy footprint in India, the statement said. "Avaada Energy, a key entity in the Avaada Group's renewable energy division, is pleased to announce its successful acquisition of approximately 1,400 MWp in solar energy projects through recent tenders by central and state government agencies in India," it said. The Power Purchase Agreements (PPAs) with these agencies will span 25 years. These projects are slated for completion within a timeframe of 24 months. Upon commissioning, these solar installations are expected to generate an estimated annual output of approximately 2,410

China-Plus-One strategy powers up India's exports of solar modules

Executives from rating agencies expect exports to continue to remain a part of the strategy for most large manufacturers

Solar module manufacturing capacity to touch 60 GW mark by 2025: ICRA

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

Waaree Energies secures 200 MW module supply order from ENGIE India

Waaree Energies has bagged a 200 MW module supply order from ENGIE India for a solar project in Surendra Nangar district of Gujarat. "Waaree Energies has received a mandate from ENGIE India for supply of 200 MW of solar modules for a solar power project in Sayla village in Surendra Nagar district of Gujarat," a company statement said. The company, however, did not disclose the value of the order. ENGIE India is a subsidiary of the French-based ENGIE Group, a global player in low-carbon energy and services. The company is developing the Sayla village project, designated as GUVNL 2, under a 25-year solar power purchase agreement (PPA) with Gujarat Urja Vikas Nigam (GUVNL), it informed. "This mandate from ENGIE India is a validation of Waaree's status as India's predominant solar module manufacturer," Hitesh Doshi, Chairman & Managing Director, Waaree Group, said in the statement. Waaree's supply mandate with ENGIE is expected to commence from November this year and is likely to ...

Solar power investment set to surpass oil production spending this year

The growth in clean energy spending is driven by technologies including solar panels and electric vehicles that are key to cutting dependence on the use of oil, coal and natural gas

Corporate funding in global solar sector grows 11% to $8.4 bn in Jan-Mar

Corporate funding in the global solar sector increased 11 per cent year-on-year (y-o-y) to USD 8.4 billion in January-March period of 2023, according to a Mercom Capital report. Corporate funding includes venture capital, debt and public market financing. "The investments in the solar sector bucked the trend in Q1 despite tough economic conditions. The Inflation Reduction Act in the US is a significant driver for investments in solar. The fundamentals are solid, driven by strong demand for the energy transition worldwide, especially in Europe and the United States," said Raj Prabhu, CEO of Mercom Capital Group. Total corporate funding into the solar sector in the first quarter of 2023 calender year came to USD 8.4 billion compared to USD 5.4 billion in the fourth quarter of 2022. Funding increased 11 per cent y-o-y compared to USD 7.5 billion raised in Q1 2022, the report said. During January-March 2023, global VC funding was at USD 2.1 billion in 18 deals, 75 per cent higher compa

By 2025, Delhi govt aims to meet 25% of annual demand through solar power

The Delhi government's solar policy, which will be notified next month, aims to meet 25 per cent of the city's annual electricity demand through the clean energy by 2025, Delhi Finance Minister Kailash Gahlot announced on Wednesday. While presenting his maiden budget as finance minister, Gahlot in the assembly announced an allocation of Rs 3,348 crore for the power sector, up from Rs 3,340 crore last year, and highlighted that electricity rates have not been increased in the last eight years. "The Delhi government has treated providing minimum electricity to every household in Delhi like a fundamental right and in the year 2022-23, out of Delhi's 58.5 lakh domestic consumers, about 84 per cent had availed the Delhi government's electricity subsidy scheme," he said in the assembly. Gahlot said the government's Solar Policy will be notified by next month and it will establish Delhi as a leading example for the country in the field of solar energy. "The Delhi Solar Policy 2022 aims to

Indore plans nation's first retail municipal bond for solar power project

Indore Municipal Corp. seeks to raise as much as 2.6 billion rupees ($31.8 million) via a 10-year bond sale next month

India saved $4 bn in fuel costs via solar power in first 6 mnths: Report

India saved USD 4.2 billion in fuel costs through solar generation in the first half of 2022 and 19.4 million tonnes of coal that would have further stressed an already strained domestic supply, according to a new report released on Thursday. The report by energy think tank Ember, the Centre for Research on Energy and Clean Air and the Institute for Energy Economics and Financial Analysis also analysed the growth of solar power over the last decade and found that five of the top 10 economies with solar capacity are now within Asia, including China, Japan, India, South Korea and Vietnam. The contribution of solar generation in seven key Asian countries -- China, India, Japan, South Korea, Vietnam, the Philippines and Thailand -- avoided potential fossil fuel costs of approximately USD 34 billion from January to June 2022, the report said. This is equivalent to 9 percent of total fossil fuel costs during this period, it added. "In India, solar generation avoided USD 4.2 billion in fu