Bangladesh needs up to $1.71 billion annually till 2041 for 40% renewable energy capacity
A new report says the time is ripe for Bangladesh to increase renewable energy-based generation capacity to reduce costly fossil-fuel imports and drive down subsidy burdens on the power sector. It finds the nation would need to consistently invest $1.53 billion to $1.71 billion annually until 2041 to build a 40% renewable energy capacity of the electricity demand of 61,866 MW in 2041.
India surpasses 64 GW of installed solar capacity: MNRE
Rajasthan, Gujarat and Karnataka account for over 50% of the cumulative installed solar capacity.
New global solar capacity additions hit 191 GW in 2022, says IRENA
Global renewable capacity increased by 295 GW last year, bringing the world to a cumulative installed capacity of 3,372 GW, according to the International Renewable Energy Agency (IRENA).
TERI recommends provisions for green fund in Union Budget 2023-24
Experts at TERI say the money collected as cess on coal could be used to create a Green Equity Fund and also provide viability gap funding for energy transition projects.
Minigrid operator Husk Power achieves profitability with India leading the way
Bihar-based Husk Power Systems, which serves rural Asia and Africa, became EBITDA positive in the fourth quarter of 2022 in India and Nigeria.
India installed about 14 GW of solar in 2022
India installed 13,956 MW of new solar capacity from January to December. This included 11.3 GW of utility-scale PV, about 1.9 GW rooftop, and nearly 700 MW off-grid/distributed.
Husk Power secures $750,000 to expand solar microgrid business in Nigeria and India
Bihar-based Husk Power Systems has secured $750,000 in debt to build eight new community solar microgrids in Nigeria and expand operations in India.
India misses 2022 renewables target of 175 GW by 30%
India has installed a cumulative renewables capacity (excluding large hydro) of 122 GW as of December 31, 2022, falling 30% short of its 175 GW target. While solar addition has remained more consistent than wind over the last few years, 2023 is going to be a challenging year for PV installation due to the shortage of domestically manufactured modules.
Solar in 2023
Here are three trends in the solar sector that will gain momentum in 2023, leading to wider PV implementation.
India added 3.3 GW of solar in Q3 2022
India installed 3,338 MW of new solar power capacity in the three months ending September. This included 2,602 MW from utility-scale solar, 485 MW rooftop, and 251 MW off-grid installations
