NGEL, NREDCAP tie up for 25 GW of renewable energy projects in Andhra Pradesh
NTPC Green energy Ltd (NGEL) and New and Renewable Energy Development Corp. of Andhra Pradesh (NREDCAP) have entered a joint venture agreement to develop 25 GW of renewable energy projects, 0.5 mmtpa of green hydrogen and derivatives projects, and 10 GW of pumped hydro projects in the state.
India installed 16 GW of solar in first nine months of 2024, says Mercom
The solar addition in the Jan.-Sep. period of 2024 topped all previous nine-month and annual installations.
Building self-reliance in the solar value chain
A multi-pronged policy mix has been adopted by the government to promote solar adoption. In the Budget 2024-25, a corpus of INR 10,000 crore was allocated to promote the solar industry, a 110% increase from the previous year. Solar manufacturing equipment have been exempt from the basic customs duty list to boost domestic manufacturing. In contrast, there is a 10% customs duty on the import of solar glass as we currently have enough capacity to meet all our domestic requirements.
Adani calls US allegations ‘baseless,’ to seek all possible legal recourse
The Adani Group has termed the US allegations of bribery for solar contracts ‘baseless’ and added that it will seek all possible legal recourse.
Gautam Adani indicted in US for an alleged solar-related bribery scheme
Gautam Adani faces an indictment in the United States over claims it led a scheme to bribe Indian officials to secure multibillion-dollar solar contracts. The charges allege the group concealed its actions while seeking capital from US and global investors.
Hyundai Motor India signs wind, solar PPAs with Fourth Partner Energy
Fourth Partner Energy will set up and operate a 75 MW solar power plant and a 42.9 MW wind power plant in Tamil Nadu for consumption by Hyundai Motor India under 25-year power purchase agreement.
Socomec crosses 50 GW of PV disconnect switch installations in India
Socomec India has hit the milestone of supplying its photovoltaic (PV) disconnect switches for over 50 GW of solar installations in India.
Datta Infra commits INR 5,000-crore renewable energy investment in Rajasthan
Datta Power Infra has signed a Memorandum of Understanding (MoU) with the government of Rajasthan to invest INR 5,000 crore in setting up 1 GW of wind, solar, and wind-solar hybrid projects in Rajasthan.
ReNew Q2 profit up 31% YoY
ReNew Energy Global (ReNew) has reported a total income (or total revenue) of INR 29,887 million ($357 million) and net profit of INR 4,939 million ($59 million) for the second quarter of FY 2024-25.
The Hydrogen Stream: SECI, H2Global to collaborate on green hydrogen initiatives
The collaboration will focus on enhancing knowledge exchange on market-based mechanisms and fostering cooperation between India and renewable hydrogen importing countries.
