The Indian Renewable Energy Development Agency (IREDA) has received in-principle approval from the Department of Investment and Public Asset Management (DIPAM) to establish a wholly-owned subsidiary focused on retail and B2B renewable energy sectors.
This new entity will manage initiatives under PM-Suryaghar (Rooftop Solar), PM-KUSUM schemes, and other B2C segments, while also exploring emerging sectors such as electric vehicles (EVs), energy storage, and green technologies.
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Outdated power grids are slowing the global transition to renewable energy, with 3,000 GW of clean energy projects, many in advanced stages, stuck in grid-connection queues. This figure is five times the total solar and wind capacity added in 2022, according to the International Energy Agency (IEA). While renewable energy investment has nearly doubled since 2010, annual spending on grid upgrades has stagnated at $300 billion. The issue is particularly pressing in developing nations like…
Waaree Renewable Technologies (WAAREERTL) has received a letter of award (LoA) for the execution of engineering, procurement, and construction (EPC) works for a ground-mounted solar power project. The company will develop the project with a capacity of 3.40 MW DC/2.77 MW AC on a turnkey basis, handling all aspects from start to finish.
Adani Power Ltd is in advanced discussions to acquire the 600 MW Butibori thermal power project in Nagpur, previously owned by the now-insolvent Reliance Power Ltd, according to a report by Mint. The deal is expected to be valued between Rs 24 billion and Rs 30 billion, which translates to approximately Rs 4 crore to Rs 5 crore per MW. The Butibori project, operated by Vidarbha Industries Power Ltd, a subsidiary of Reliance Power, has…
Sunly has secured €300 million in debt financing to accelerate the development of 1.3 GW of renewable energy facilities, including solar, wind, storage, and hybrid parks, across the Baltics and Poland. This investment aims to enhance regional energy security and independence, particularly as the region prepares to separate from the Russian and Belarusian electricity grids. The financing, provided by Rivage Investment, Copenhagen Infrastructure Partners (CIP), and Kommunal Landspensjonskasse, will support the construction of integrated hybrid…
Green hydrogen (GH2) is set to play a pivotal role in India’s path toward decarbonization. The country’s goal of producing 5 million tonnes of green hydrogen annually by 2030 is a key part of its strategy to reduce greenhouse gas emissions. This shift will require significant changes in India’s power system, particularly in the integration of renewable energy sources and grid flexibility. Below is a detailed analysis of the necessary adjustments to meet the rising…
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