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CEA plans RE-based transmission of 613 GW by 2032
The Central Electricity Authority (CEA) has outlined a comprehensive plan to build transmission capacity for 613 GW of renewable energy by 2032. In its latest ‘National Electricity Plan,’ the CEA projects that India’s non-fossil fuel capacity will reach 653 GW by 2031-32. This includes 385 GW from solar (with 60 GW from rooftop solar), 165 GW from wind, 62.8 GW from hydro, 19.6 GW from nuclear, 15.5 GW from biomass, and 5.4 GW from small…
Inox Wind reports Rs 902.2 million profit in Q2 FY24, income up 93%
Inox Wind Limited has announced a net profit of Rs 902.2 million for the quarter ending September 2024, contrasting with a loss of Rs 292.3 million in the same quarter last year. Total income rose significantly, increasing by 93 percent to Rs 7,417.4 million, compared to Rs 3,844 million in the same period the previous year.
JDVVNL issues tender for 333.5 MW solar projects under PM KUSUM
Jodhpur Vidyut Vitran Nigam Limited (JDVVNL) has issued a tender for developing 333.5 MW of solar power projects, including 11 kV transmission lines and remote monitoring systems, under Component A of the PM KUSUM program. The bid submission deadline is November 29, 2024. The projects are to be commissioned within nine months of the work order, and developers are tasked with 25-year operations and maintenance, alongside a 25-year power purchase agreement (PPA) at Rs 3.04…
EIB and Intesa Sanpaolo launch €8 billion wind sector initiative
The European Investment Bank (EIB) and Intesa Sanpaolo have launched an initiative to unlock €8 billion in wind sector investments, as part of EIB’s €5 billion wind energy plan unveiled at COP28. Supported by InvestEU, this will support 32 GW of wind capacity toward the EU’s 2030 renewable energy target of 45%. EIB will provide a €500 million counter-guarantee, enabling Intesa Sanpaolo to establish €1 billion in guarantees for wind farm supply chains and grid…
IEX records 4% increase in traded electricity volume in October 2024
The Indian Energy Exchange (IEX) reported a traded electricity volume of 9,642 million units (MU) in October 2024, marking a 4% year-on-year growth. IEX also traded 4.44 lakh renewable energy certificates (RECs) in October, a notable 105% increase from the previous year. India’s energy consumption for October reached 140.4 billion units (BUs), a 1% increase from the previous year, according to government data. The Market Clearing Price in the Day-Ahead Market (DAM) fell 39% year-on-year…
China’s first large-scale deep-water offshore solar project reaches operational readiness
China has energized the booster station for its first large-scale, pile-fixed deep-water offshore photovoltaic (PV) project, signalling the operational readiness of the CGN Yantai Zhaoyuan 400 MW floating solar project. Located in Laizhou Bay, Zhaoyuan City, the project covers 6.44 square kilometres and includes 121 PV sub-arrays. It features an alternating current (AC) side-rated capacity of 400 MW and a direct current (DC) installation capacity of 539.33 MW, utilizing Grand Sunergy’s Seapower double-sided, double-glass heterojunction…