Budget expectations for solar, energy storage, and EV sectors
Dedicated funds for residential rooftop solar under ‘Pradhan Mantri Suryodaya Yojana’ and increased incentives for solar manufacturing MSMEs are on the wishlist of the Indian solar sector. In battery storage, players expect the inclusion of battery recycling within the PLI Scheme and continued investments in developing battery storage solutions.
Cleantech Solar secures INR 6.25 billion green finance for advancing open access portfolio in India
Cleantech Solar has secured a long-term senior secured loan facility worth INR 6.25 billion (over $75.2 million) from Tata Capital Ltd to advance its open-access projects in India.
NTPC arm signs MoU for INR 80,000 crore green hydrogen to ammonia project
NTPC Green Energy Ltd (NGEL) will develop a green hydrogen to green ammonia project with a capacity of up to one million tonne per annum (mtpa) in Maharashtra.
Adani Green Energy Ltd posts INR 950 crore profit for 9M FY2024
Adani Green Energy Ltd has reported a consolidated net profit of INR 950 crore (around $114.28 million) for the first nine months of FY 2024, which is 104% up year-on-year. Revenue from operations was up 57% YoY to INR 5,794 crore.
The Hydrogen Stream: India’s Maharashtra signs MoUs for green hydrogen projects worth over $33.2 billion
NTPC Green Energy, ReNew, Avaada, JSW Energy, Welspun Godavari GH2, INOX Air Products, and Larsen & Toubro Green Energy have committed huge investments in setting up green hydrogen production capacities in the Indian state of Maharashtra.
Adani Green completes funding of the reserves for the $750 million Holdco
Adani Green Energy Ltd has concluded funding of the entire $750 million Holdco Bond redemption with the receipt of $281 million through promoter preferential allotment. Other sources of funds include $300 million from TotalEnergies JV proceeds and $169 million from debt service reserve account, hedge reserves, and interest on reserve account.
REC Ltd, NIIF collaborate on funding solutions for renewable energy projects
REC Ltd has signed a Memorandum of Understanding (MoU) with the National Investment and Infrastructure Fund Ltd to collaborate on funding solutions for renewable energy projects.
SAEL secures $1 billion for solar, biomass projects
Solar and waste-to-energy producer SAEL has secured $1 billion from financial institutions including Norfund, DFC, Asian Development Bank (ADB), and Tata Cleantech.
Govt considering subsidy hike for residential rooftop solar systems with capacities up to 3 kW
Under the Pradhan Mantri Suryodaya Yojana for residential rooftop solar, the Indian government is considering an increase in the subsidy for grid-connected residential rooftop solar systems with capacities between 1-3 kW. This category of systems were offered a 40% subsidy in the previously launched scheme.
IH2A proposes $5 billion hydrogen transition fund
The India Hydrogen Alliance (IH2A) has proposed a $5 billion fund to support the development of large-scale hydrogen projects and H2 hubs, supply chain, sectoral H2 transition, national skilling, and H2 infrastructure in India.
