ADB approves $250 million loan for India’s power sector reforms
The Asian Development Bank (ADB) has approved a $250 million policy-based loan to strengthen the market for power trade and related ancillary services in India, facilitating the integration of intermittent renewable energy. The loan will also enable measures to improve the financial performance, corporate governance, and service quality of electricity distribution companies (DISCOM) and create a conducive environment for private sector investment.
The Hydrogen Stream: Odisha approves four green hydrogen, ammonia projects worth INR 45,865 crore
The state government of Odisha has approved green hydrogen and green ammonia projects of Welspun New Energy, Sembcorp Green Hydrogen, and ReNew E-Fuels.
AmpIn Energy to build 1.3 GW solar cell, module factory in Odisha
AmpIn Energy Transition plans to invest INR 3,100 crore ($372 million) in setting up about 600 MW+ of renewable energy projects in Eastern India and an integrated 1.3 GW solar cells and modules manufacturing facility in Odisha state of the region.
IREDA IPO opens for subscription
Indian Renewable Energy Development Agency Ltd is looking to raise up to INR 2,150.21 crore from its initial public offering (IPO) of 671,941,177 equity shares.
Gensol Engineering revenue up 88% YoY in H1 FY 2024
Gensol Engineering Ltd recorded a revenue of INR 344.03 crore ($41.3 million) in H1 FY24, 88% up from INR 183.25 crore in H1 FY23. Profit after tax (PAT) grew 24% to INR 22.16 crore.
Alpex Solar aims to surpass INR 1,000 crore revenue by FY 2026
Indian PV manufacturer Alpex Solar aims 2.5-fold growth to reach INR 1,000 crore revenue in FY 2026.
Install grid-connected solar, rinse, repeat
Will a redeployable solar and energy storage solution be the answer to unreliable grid electricity across much of Africa, as its developer proposes? Or will it merely be a temporary solution that will see cash-strapped utilities kick the can of universal energy access further down the road?
“Net zero will remain only a goal unless we diversify solar supply chains and build adequate renewable energy storage”: ISA president
RK Singh, India’s power minister and president of International Solar Alliance, highlighted the need for investment and research in alternative chemistries for energy storage and in building manufacturing capacities.
Radiance Renewables secures $90 million green loan for 150 MW C&I solar project
Radiance Renewables has become the first commercial & industrial (C&I) renewable energy player in India to secure a green loan project finance facility with $90 million jointly arranged by Axis Bank and Standard Chartered Bank. It will use the funds to develop its 150 MW commercial & industrial (C&I) solar project in Maharashtra.
US, China dominate solar investment
China and the USA have been consistently attracting the most annual solar investments. Together, these have received about 50% of all solar investments since 2015, according to a new report released by the International Solar Alliance at its sixth assembly in New Delhi.
