Solar power has emerged as the fastest growing segment within the renewable energy sector in India, overtaking the long-time favorite wind power. According to data from the Ministry of New and Renewable Energy, wind power was the clear winner till about 2014, but has clearly got left behind since then. The year 2014 was when […]
Households owning rooftop solar systems could save up to 95 per cent on their electricity bills, according to an independent study by Council on Energy, Environment and Water (CEEW) and BSES Yamuna Power Limited . Solar system costs have declined by 27 per cent, year-on-year, over the last three years, making rooftop solar a lucrative […]
India is likely to have met its target of adding 10,000 watt of solar power generation capacity in the year ended March 2018, thanks to a sudden spurt of installations during the final months of the year (Jan-Mar), going by numbers released by an independent group. According to Mercom India, a consultancy that tracks the […]
India has withdrawn its decision to impose a duty of 7.5% (effectively around 10%) on imports of solar modules, and this could give a shot in the arm for the solar power industry, according to India Ratings. The move could also help achieve the government’s target of achieving total, grid-connected solar power capacity of 100 […]
Yes Bank said it will lend Rs 750 cr to Mahindra Renewables Pvt. Ltd., part of the Mahindra Group, for constructing a 250 megawatt solar farm in the solar park at Rewa in Madhya Pradesh. The project has raised another Rs 200 cr from other financial institutions and achieved financial closure, the bank added. The […]
Suzlon Energy, one of the pioneers of wind power in India, said it has finished commissioning its entire solar order book of 340 megawatt, and will focus on hybrid solar-wind projects going forward. Out of the 340 MW erected, 210 MW was erected in Telangana, 60 MW in Rajasthan and 70 MW in Maharashtra. The […]
Renewable energy player Inox Wind said it won orders to erect wind power turbines with a combined capacity of 200 MW in the third round of national auctions held two days ago. The third round was for a total capacity of 1,000 MW or 1 GW, and was the third of the national wind power […]
The central government and various state governments will award contracts to set up another 6,500 MW (6.5 GW) of wind energy projects in the next three months, the ministry of renewable energy said. Combined with the 3 GW awarded in the first nine months of this fiscal year, this will take the total amount of […]
India faces steep odds in its race to meet its solar power addition targets for the current year. Last year, the country had added only 5.53 GW of incremental solar power capacity against a target of 6 GW. This year, the target is 10 GW. However, as of November end, it has added only 3.46 […]
The European Investment Bank, the lending arm of the European Union, will invest $200 mln (Rs 1,283 cr) into the Indian solar and power sector via a deal with Yes Bank in order to support the growth of renewable energy in the country. The investment will be routed through a renewable financing program with Yes […]
Mukesh Ambani, India’s richest man, said telecom was the first of his big bet, and he will now use his resources to solve problems in three other difficult areas — agriculture, education and healthcare. Speaking at the HT Leadership Summit, Ambani said his primary motivation was not to make money. “Money has never meant much […]
Inox Wind Limited, the most aggressive player in bidding for new wind power projects, said it expects almost 6 GW of new wind power projects to be auctioned in India over the next five months. In comparison, the country added 5.4 GW of wind power capacity on the ground in the last financial year that […]
Anil Ambani Group’s Reliance Capital Indian Renewable Energy Development Agency Limited (IREDA) will make available Rs 300 cr for lending to renewable energy and energy efficiency projects. IREDA is a Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE). Reliance Commercial Finance Limited, the company subsidiary that operates […]
Adani Enterprises Limited said it will demerge Adani Green Energy Ltd by cancelling the shares it holds in the subsidiary and issuing new shares directly to the shareholders of the parent company. Shareholders will get 761 shares of the new company for every 1,000 shares they hold in the parent company. They do not have […]
Inox Wind Limited, which manufacturers wind turbines and constructs wind power farms, said it intends to put up a 250 MW wind farm in Kutch in Gujarat in the next 12 months and will continue to bid aggressively in upcoming auctions. Inox Wind had won the project as part of the second round of bidding […]
Tata Power said it generated more four times as much power from renewable sources like solar and wind in the financial year ended March, compared to the year before. This was achieved partly due to an acquisition. During the year, its renewable arm Tata Power Renewable Energy Limited completed the acquisition of WREPL which had […]
Even as India more or less sticks to the target on adding large solar farms under its ambitious Solar Mission project, the other leg of the plan — rooftop solar — remains woefully behind target. Under the solar mission, India is supposed to have put in 5,000 megawatt of solar plants on the roofs of […]
India added only 827 megawatt of solar power generation capacity in the first three months of the current financial year, indicating a slow start to the yearly program. The addition of the first three months represents only 8.27% of the 10,000 megawatt that it is supposed to come online this year. According to India’s ambitious […]
Bharat Heavy Electricals Limited said it got an order from Gujarat Alkalies and Chemical Limited for setting up a 15 MW Solar Photovoltaic power plant in Gujarat on Engineering, Procurement and Construction (EPC) basis. This takes the total solar power generation capacity being constructed by the company to 180 MW, including ground-based and rooftop-based. The […]
The central government has okayed the listing of India’s premier renewable energy agency, IREDA, via an initial public offer. The move will help the non-banking finance company “increase its equity base which will help them raise more debt resources for funding renewable energy projects,” the government said. IREDA supports the non-traditional energy sector by giving […]
