India Ratings maintains stable outlook for solar projects
The analysts said solar projects continue to have stable operations, adequate debt service coverage, and comfortable internal liquidity. The fall in module prices over the six months ended February 2023 is positive for under-construction projects.
Adani to develop 15 GW of renewable energy projects in Andhra Pradesh
Adani Group has committed to building 15 GW of renewable power projects in Andhra Pradesh, while Reliance announced its 10 GW solar plans for the state. Avaada, Greenko, Indosol, and ReNew have also pledged massive investments into the state’s renewables sector.
Amplus Solar to set up 200 MWp wind-solar hybrid project in Tamil Nadu
The plant marks Amplus Solar’s first wind and solar hybrid project. It will supply power to commercial and industrial consumers in Tamil Nadu under open access.
Tata Power Renewable completes $525 million equity fundraising from BlackRock, Mubadala
The investment will fund Tata Power Renewable’s aggressive growth plans as it targets over 20 GW of renewables assets and a market-leading position in the rooftop and electric vehicle charging space across India over the next five years.
JK Cement, CleanMax sign 6.42 MW wind-solar PPA
JK Cement has signed a 25-year power purchase agreement with CleanMax Enviro Energy Solutions for 6.42 MW of wind-solar capacity in Karnataka.
Acme Group and Japan’s IHI to jointly explore opportunities in green hydrogen
Indian developer Acme Group and Japan’s IHI have signed a pact to jointly explore opportunities across the green hydrogen and ammonia value chain, including production, handling, transportation, distribution, and power generation.
Renewable energy auctions not in tandem with government targets
India tendered only about 28 GW of variable renewable energy capacity in 2022, as against 40 GW in 2019. The nation needs to add 30-35 GW of new VRE capacity annually to reach its climate targets by 2030 and that requires more than 35 GW of annual tendering.
Ensuring a just energy transition
The renewable energy sector must lead responsibly by addressing land use, circularity and financing.
Kolkata discom tenders 150 MW of wind-solar projects
CESC Ltd has invited proposals from developers to build 150 MW of wind-solar hybrid power projects to meet its renewable purchase obligation targets and a part of its power demand. The projects, to be developed on a build-own-operate basis, can be set up anywhere in India.
Adani Green Energy Q3 profit soars 110% YoY
Adani Green Energy Ltd, the renewable energy arm of the diversified Adani Group, reported a consolidated net profit of INR 103 crore in the three months ended Dec. 31, 2022.
