Radiance, PIDG form JV for C&I solar, hybrid projects in India
Radiance Renewables and UK-based investor Private Infrastructure Development Group (PIDG) have announced a joint venture to develop greenfield solar and hybrid wind-solar energy projects for commercial and industrial (C&I) clients in India.
GUVNL allocates 500 MW hybrid wind-solar at $0.040/kWh
The winning developers will set up grid-connected hybrid wind-solar power projects on a build-own-operate basis. The projects may be setup anywhere in India.
IEA urges countries to accelerate renewables deployment
A new report from the International Energy Agency (IEA) suggests that the world could miss out on a target of 11,000 GW of global renewables capacity by the end of the decade, as agreed at COP28. It also predicts that solar will become the world’s largest source of installed renewable capacity, surpassing hydropower.
India needs $385 billion investment to meet its renewable energy target: Moody’s
India needs $190 billion to $215 billion for renewables capacity addition and another $150 billion to $170 billion for transmission and distribution in order to meet its RE target of 500 GW by 2030.
India Ratings upgrades Adani Green Energy to ‘IND AA-’ with Stable outlook
The upgrade factors in Adani Green Energy Ltd’s continued strong operational asset performance, strong execution scale-up with annual capacity additions likely to be 4 GW-5 GW annually over the medium term, and healthy counterparty diversification and reduction in receivables, leading to an increase in the cash flow from operations.
Global solar and wind generation will soon pass nuclear, hydro
In a new monthly column for pv magazine, the International Solar Energy Society (ISES) explains how solar and wind are dominating power plant construction.
ReNew secures $1 billion from European bank Societe Generale
Societe Generale will provide up to $1 billion of debt finance and advisory solutions, over the next three years, to support the development of ReNew’s energy transition projects.
Coal share in India’s installed power capacity drops below 50%
Coal’s share (including lignite) in India’s total installed power capacity dropped below 50% in the first quarter of 2024. This is well ahead of the Government’s target to establish 50% cumulative power generation capacity from non-fossil fuel-based sources by 2030.
India tendered ‘record’ 70 GW of renewables in FY 2024
India invited bids to set up 69.8 GW of renewable energy capacity, far surpassing the annual bidding target of 50 GW. The bidding activity surged due to large-scale potential for market growth, central government support in terms of targets and regulatory frameworks, and higher operating margins.
Tata Power secures PPA with SJVN for 460 MW renewables-plus-storage project
Tata Power Renewable Energy Ltd will develop a hybrid plant comprising solar, wind, and battery storage components to meet the 460 MW firm and dispatchable renewable power requirement.
