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India to Implement Approved Solar Module Standards from April 2024, MNRE Announces
The Ministry of New & Renewable Energy (MNRE) has issued an official memorandum announcing significant updates to solar photovoltaic (PV) module manufacturers. According to the memorandum numbered 283/16/2023-GRID SOLAR, dated 29th March 2024, the MNRE has stated that the Approved Models and Manufacturers of Solar Photovoltaic Modules (Requirements for Compulsory Registration) Order, 2019 (ALMM Order), initially put on hold for the fiscal year 2023-24, is now set to come into effect from 1st April 2024.
Adani Green Energy Surpasses 10,000 MW Operational Portfolio Milestone, Pioneering India’s Renewable Energy Revolution
Adani Green Energy Limited (AGEL), India’s foremost renewable energy company, has achieved a significant milestone by surpassing 10,000 MW of operational portfolio. This achievement reinforces AGEL’s commitment to delivering reliable, affordable, and clean power to the national grid. The operational portfolio comprises 7,393 MW of solar capacity, 1,401 MW of wind capacity, and 2,140 MW of wind-solar hybrid capacity. AGEL’s operational portfolio is projected to power more than 5.8 million homes and avoid approximately 21 million tonnes of CO2 emissions annually.
TP Saurya Limited Completes 200 MW Solar Project in Bikaner, Rajasthan
TP Saurya Limited (TPSL), a subsidiary of Tata Power Renewable Energy Limited (TPREL), has announced the successful commissioning of a 200 MW solar project in Bikaner, Rajasthan, for Tata Power Trading Company Limited (TPTCL). Expected to generate 485 million units of energy annually, the project reinforces TPSL’s commitment to bolstering India’s renewable energy capacity. Moreover, it will be seamlessly integrated into the Central Transmission Utility (CTU) Bus, facilitating efficient distribution of clean energy across the region.
Waaree Energies Partners with Sprng Energy for 220 MW Solar Module Supply in Gujarat
Waaree Energies Limited has entered into a significant contract with Sprng Energy Private Limited, a part of the Shell group. This deal includes the provision of 220 MW from Waaree’s AHNAY Series, Bi-55 545Wp modules, designated for an Sprng Energy project in Gujarat, underscoring the strengthening collaboration in India’s renewable energy landscape. This partnership is a testament to both companies’ commitment to bolstering the renewable energy sector in India, further supported by the government’s push for domestic manufacturing and the Make in India initiative.
PepsiCo India Sets Industry Benchmark with New Beverage Facility Running Exclusively on Renewable Energy
PepsiCo India has declared a substantial investment of ?1,266 crore to establish a new flavor manufacturing facility in Ujjain, Madhya Pradesh. Emphasizing sustainability, the Ujjain facility is designed to operate exclusively on renewable energy, aiming to cut its carbon emissions by 1.9 metric tons daily. It also plans to utilize Zero Liquid Discharge technology to achieve an impressive 90% water efficiency rate. This initiative reflects the company’s commitment to responsible water management and its pledge to replenish every drop of water used in its operations.
IREDA Sets New Milestones in Green Financing with Record Loan Sanctions and Disbursements in FY 2023-24
The Indian Renewable Energy Development Agency Limited (IREDA), India’s premier non-banking financial company focusing exclusively on green financing, has announced its highest-ever annual performance figures for loan sanctions and disbursements in the financial year ending March 31, 2024. The company reported that it sanctioned loans totaling ?37,354 crores and disbursed ?25,089 crores over the course of the year, marking a substantial growth in its operations and financial outreach in the renewable energy sector.
NTPC Seeks Partners for 50 MW Concentrated Solar Power Project with 8-Hour Thermal Energy Storage
NTPC invites Expressions of Interest from Indian and Foreign Companies, Consortia, Affiliates, and Representatives to Establish a 50MW (net at ex-bus) Concentrated Solar Power (CSP) Project with a Thermal Energy Storage System (TESS). The last date to submit the Bid is May 9, 2024, with bid opening scheduled for May 14, 2024. The project aims to operate for 8 hours during peak and non-solar hours under a Build Own Operate (B-O-O) basis, connected to ISTS. The Thermal Energy Storage System (TESS) will discharge power to meet requirements during two (2) power blocks at full capacity (50MW) or at partial load distributed throughout non-solar hours.
Japan Bank for International Cooperation Commits JPY 15 Billion to Accelerate India’s Renewable Energy Drive with NREL
The Japan Bank for International Cooperation (JBIC), led by Governor Nobumitsu Hayashi, recently finalized a significant financial deal with NTPC Renewable Energy Limited (NREL) of India, marking a substantial move towards supporting renewable energy projects within the country. The agreement, signed on March 26, involves a loan of up to JPY15 billion, with JBIC directly contributing JPY9 billion. This funding effort is also bolstered through collaboration with Sumitomo Mitsui Banking Corporation and the Bank of Fukuoka, Ltd., with JBIC additionally providing guarantees for the portions financed by these private entities.
IREDA Plans ?24,200 Crore Fund Mobilization for FY 2024-25 to Fuel Renewable Energy Growth
The Indian Renewable Energy Development Agency Limited (IREDA) has unveiled a comprehensive borrowing strategy for the fiscal year 2024-25, with a planned mobilization of funds amounting to ?24,200 Crore. This decision was ratified during a board meeting, underscoring the agency’s ambitious agenda to enhance India’s renewable energy infrastructure and capacity. Under this funding blueprint, IREDA aims to tap into a varied mix of financial instruments. The portfolio includes Taxable Bonds, Green Taxable Bonds, and an assortment of other debt instruments such as Sub-ordinated Tier-II Bonds and Perpetual Debt Instruments.
Adani Green Energy Powers Up 775 MW Solar Projects in Gujarat
Adani Green Energy Limited, a prominent renewable energy company, has announced the successful operationalization of an impressive 775 MW of solar power projects located in Khavda, Gujarat. This significant achievement was reached after receiving all necessary clearances, leading to the decision to commence power generation starting March 29, 2024, at 00:12 a.m. The projects are operated through various wholly-owned step-down subsidiaries. This move represents a substantial stride toward bolstering India’s renewable energy capacity, aligning with the country’s ambitious goals to enhance sustainability and reduce carbon emissions.
OeEB Invests EUR 25 Million in AMPIN Energy Transition to Boost Renewable Energy Portfolio and Solar Manufacturing in Odisha AMPIN Energy Transition has secured a EUR 25 million investment from OeEB, the Development Bank of Austria. The funding aims to facilitate the expansion of AMPIN’s renewable energy portfolio and the establishment of a 1 GW solar cell and module production facility in Odisha. Aligned with the government’s objectives to scale up renewable energy capacities and reduce CO2 emissions, the investment not only supports these goals but also aims to enhance local manufacturing capabilities, crucial for the country’s transition efforts. |
