India needs $300 billion to meet 2032 renewable energy target
Achieving the National Electricity Plan (NEP-14) targets would require annual financing for renewable energy, storage and transmission to grow by 20% each year, reaching $68 billion by 2032 from $13.3 billion in FY 2024, says a new report from Ember.
Avaada Group commits INR 50,000 crore to renewables, storage projects in Madhya Pradesh
Avaada Group said it will develop 6 GW of solar energy, 700 MW of wind energy, 2.1 GW of battery energy storage systems (BESS), and 2 GW of pumped storage projects in Madhya Pradesh. Additionally, it will establish green energy equipment manufacturing facilities in the state.
Credit Fair secures $5 million from BII to fund rooftop solar projects in India
Credit Fair has raised $5 million in debt from from the $75-million Green Basket Bond issued by Symbiotics Investments and subscribed to by British International Investment. It will deploy the amount to fund 2,500 new rooftop solar projects.
Reliance Industries awarded 10 GWh advanced chemistry battery capacity under PLI Scheme
India’s Ministry of Heavy Industries has signed a programme agreement with Reliance New Energy Battery Ltd for 10 GWh capacity under the production-linked incentives (PLI) Scheme for advanced chemistry cells.
Adani moves to allay fundraising fears
Following the indictment of its chairman, Gautam Adani, in the United States over bribery allegations, questions are being asked about Adani Group’s ability to raise capital. With the charges related to solar, India’s PV industry has wider concerns. Adani Group refutes the allegations and says it is as robust as ever.
Borosil Renewables posts INR 8.64 crore net loss in Q3
The solar glass manufacturer said all of its major export markets are showing lower demand due to low level of local manufacturing as cheap modules imported from China dominate the installations.
India could cut industrial emissions by 65% by 2050 with policy interventions
WRI India projects that industrial emissions could be reduced by 65% in 2050 with policy-driven interventions compared to a reference scenario without additional policies.
PM Surya Ghar: Muft Bijli Yojana turns one
The PM Surya Ghar: Muft Bijli Yojana, the world’s largest domestic rooftop solar initiative, is reshaping India’s energy landscape with a bold vision to supply solar power to one crore households by March 2027.
Juniper Green raises $1 billion in debt financing to expand its clean energy portfolio
Juniper Green Energy has secured $1 billion in phased debt financing to support the development of wind-solar hybrid and firm & dispatchable renewable energy (FDRE) projects.
Tata Power Renewable Energy partners Bank of Baroda for finance to residential solar customers under PM Surya Ghar Yojana
Tata Power Renewable Energy Ltd and Bank of Baroda have signed a Memorandum of Understanding to facilitate low-cost, hassle-free financing options for residential rooftop solar customers under the Pradhan Mantri Surya Ghar Yojana.
