Global PV must grow to 5,400 GW by 2030 to limit global warming
The International Renewable Energy Agency said in a recent report that the scale of the energy transition needs ‘urgent’ acceleration to meet Paris Agreement climate emergency targets. Solar PV deployment, in particular, must ramp up and increase fourfold by the end of the decade.
India hosts sixth session of International Solar Alliance Assembly in New Delhi
The Assembly has decided to increase the viability gap funding for solar projects in member countries from 10% of the project cost to up to 35%, depending on the capacity and needs of the countries and their respective projects.
Adani Green Energy posts INR 371 crore profit in second quarter
Indian developer Adani Green Energy Ltd reported a 53.7% year-over-year increase in consolidated total income to INR 2,589 crore ($311 million) in the second quarter (July-Sept) of FY 2024. Net profit (profit after tax) soared 150% YoY to INR 371 crore.
SPDA rebrands to represent entire energy transition spectrum
The Solar Power Developers Association (SPDA) is now Sustainable Projects Developers Association (SPDA), representing solution providers across solar, wind, hybrid, battery energy storage systems, green hydrogen and green ammonia sectors.
Waaree Renewable Q2 profit surges 124.18% YoY
Waaree Renewable Technologies has reported a revenue of INR 150.06 crore (around $18 million) and a net profit (profit after tax) of INR 18.29 crore for the quarter ending Sept. 30.
Husk Power secures $100+ million to fund new solar minigrids in Africa and South Asia
Husk Power Systems (Husk) has raised over $100 million in equity and debt to fund its new solar minigrid projects in South Asia and Africa. The company said the new capital would support 1,400 new minigrids, around 300,000 new connections, and avoid 350,000 tonnes of CO2 from the displacement of diesel generation while adding 2,500 new direct jobs.
Cabinet approves over $2.49 billion for inter-state transmission line backing 13 GW of renewable energy project in Ladakh
The transmission line for evacuating power from a 13 GW renewable energy project in Ladakh will pass through Himachal Pradesh and Punjab up to Kaithal in Haryana, where it will be integrated with the national grid.
Leaders from 116 countries to attend the 6th Assembly of International Solar Alliance in New Delhi
The Sixth Assembly of the International Solar Alliance will focus on universalizing energy access through solar mini-grids, mobilizing finance for accelerated solar deployment, and diversifying supply chains and manufacturing for solar.
Avaada secures $1.8 billion REC finance for green ammonia project
Avaada has signed a memorandum of understanding with REC Ltd for $1.8 billion green ammonia project financing.
REC commits over $3.7 billion for Acme, Avaada green hydrogen projects in Odisha
REC Ltd will provide debt funding totaling INR 31,000 crore (over $3.7 billion) to support two green hydrogen projects in Odisha. This includes INR 16,000 crore to Acme Group and INR 15,000 crore to Avaada.
