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PM KUSUM scheme meets only 30% of targets, faces implementation hurdles
The PM KUSUM scheme, launched in 2019 to promote solar energy in agriculture, has achieved just 30% of its targets, according to a Centre for Science and Environment (CSE) report. The scheme, aimed at helping farmers switch to solar power, is struggling as the 2026 deadline approaches. Progress has been slow, particularly in installing mini-grids and replacing electric pumps with solar-powered ones, with most efforts focused on replacing diesel pumps. States like Haryana and Rajasthan…
PGCIL raises FY25 capex target to Rs 180 billion
Power Grid Corporation of India Ltd (PGCIL) has increased its FY25 capital expenditure (capex) target to Rs 180 billion, up from the previous Rs 150 billion, marking the highest capex since FY20. In the first quarter of FY25, PGCIL achieved a capex of Rs. 4.62 billion and capitalized Rs 2.32 billion, with Rs 1.35 billion from Regulated Tariff Mechanism (RTM) projects and Rs. 972 crore from Tariff Based Competitive Bidding (TBCB) projects. During this period,…
IPC E&C secures contract for 100 MW wind farm in Philippines
IPC E&C Philippines Corporation, a subsidiary of Vietnam’s IPC Group, has won a contract to install wind turbines for a 100 MW onshore wind farm in Laguna province, Philippines. The project, spearheaded by Laguna Wind Energy Corporation and backed by Southeast Asia’s wind energy developer The Blue Circle, will feature 17 Goldwind turbines, each with a capacity of 6 MW. Turbine installation is set to begin in 2025, with commercial operations expected by 2026. This…
PFC secures USD 1.26 billion foreign currency loan for green energy projects
Power Finance Corporation Limited (PFC) has secured a USD 1.26 billion foreign currency term loan, marking the largest such loan ever raised by an Indian public sector undertaking. The loan was arranged through a facility agreement with multiple banks at IFSC GIFT City, Gandhinagar, and will be used to fund green energy projects outside the thermal generation sector. The loan has a floating interest rate of 4.21% per annum with a five-year tenure. The participating…
Epic Energy inks agreement to set up 35 MWp solar park in Maharashtra
Epic Energy, a key player in the solar EPC market, has signed an agreement with Niva Ecotech to establish a 35 MWp (25 MW) solar park in Solapur, Maharashtra. Epic Renewable Projects, a 100% subsidiary of Epic Energy, will spearhead this initiative to develop solar parks across India. The company has identified multiple sites in and around Solapur and is in advanced discussions with corporates to install solar energy plants under the group captive open…
CSEP study warns green tariffs could strain India’s power distribution companies
A report by the Centre for Social and Economic Progress (CSEP) highlights potential financial challenges for India’s power discoms from the Ministry of Power’s plan to introduce green tariffs. The green tariffs aim to encourage renewable energy adoption, but CSEP warns that this shift could financially hurt discoms, especially if high-paying commercial and industrial consumers opt for cheaper green energy alternatives. According to the study, green tariffs could lead to a 15% financial loss of…