India

Fourth Partner Energy Ltd (FPEL) has raised $275 million from the International Financial Corporation (IFC), Asian Development Bank (ADB), and German Investment Corporation (DEG) to support its goal of 3.5 GW renewable energy capacity by 2026. The funding breakdown includes $125 million from IFC, $100 million from ADB, and $50 million from DEG. This investment will bolster FPEL’s current 1.5 GW portfolio and help commission a 575 MW wind-solar hybrid project in Karnataka later this…

India’s installed renewable energy capacity has surged by 165% over the past ten years, increasing from 76 GW in 2014 to 203 GW in 2024, according to New and Renewable Energy Minister Pralhad Joshi. Addressing the Rajya Sabha, Joshi highlighted India’s position as the fourth-largest globally in renewable energy capacity and noted an investment of approximately Rs 7 trillion in renewable projects during this period. The Union Budget 2024-25 allocated over Rs 210 billion to…

The IIT Madras (IITM) Research Park has unveiled a large-scale 1 MWh lithium-ion battery storage system, which is charged using wind and solar energy, elevating the campus’s renewable energy share to 90%. Developed by the Center for Excellence in Energy & Telecommunications (CEET), this modular and ready-to-deploy battery storage system is part of the IITM Research Park’s ’10x initiative, Towards 100% Renewable Energy.’

Tata Power has announced that it has received a Letter of Intent (LoI) from PFC Consulting, a wholly-owned subsidiary of Power Finance Corporation, to acquire Paradeep Transmission Ltd, a project-specific special purpose vehicle (SPV). In an exchange filing, Tata Power stated that the SPV would be developed on a build, own, operate, and transfer (BOOT) basis to provide transmission services for 35 years from the scheduled date of commercial operation. The commercial operation date is…

Amara Raja Energy & Mobility (ARE&M) announced a consolidated net profit of Rs 2.49 billion for the first quarter of FY25, marking a 26% increase from the Rs 1.98 billion reported in the same period of the previous fiscal year. Revenue from operations rose to Rs 32.63 billion from Rs 27.96 billion year-over-year. The revenue growth was driven by strong year-on-year volumes in the automotive aftermarket, original equipment manufacturers (OEMs), and export markets. “In the…

Odysse Electric has announced that Sun Mobility’s battery swap solution will power its e-commute bike Vader SM in key international markets through collaboration. This partnership aims to expand Odysse Electric’s global footprint and accelerate the adoption of electric mobility worldwide, according to a company statement. Odysse Electric’s product portfolio includes two e-motorcycle models and five e-scooter models with various variants. The partnership will utilize Sun Mobility’s battery-swapping platform to enhance the accessibility and convenience of…

The Union Budget 2024–25 introduced “Climate Finance Taxonomy,” aimed at channelling capital towards climate-resilient infrastructure and practices. This taxonomy will guide investments in sectors like shipping, aviation, iron and steel, and chemicals, transitioning from energy efficiency to emissions reduction targets. The initiative aims to ensure transparent and efficient investment in genuine green projects, preventing greenwashing by setting common scientific standards. Countries like China, Malaysia, and Sri Lanka have already issued green taxonomies. India’s task force…

Clean energy company Sunkind Energy has announced that it has secured new solar power projects totalling around 27 MW. These contracts have been awarded by Nahar Group and Jindal Group, according to a company statement. For Nahar Group, Sunkind Energy will set up a 7.3 MW capacity in Ludhiana, Punjab, for captive purposes, and a 19.6 MW captive solar project for Jindal Group in Nashik, Maharashtra. Both projects will be executed in engineering, procurement, and…

The PM Surya Ghar Muft Bijli Yojana has successfully surpassed 100 MW of rooftop solar (RTS) power generation capacity in Maharashtra. Under this initiative, 25,086 customers have installed 101.18 MW RTS power plants, leveraging the program’s incentives. The Maharashtra State Electricity Distribution Company (MahaVitaran) oversees the implementation of the scheme. Launched in February, the initiative offers a maximum subsidy of Rs 78,000 for a 3 kW plant, funded by the Central government. A direct payment…

Waree Renewable Technologies, an EPC company within the Waree Energies group, aims to achieve a 15.5 GW bidding pipeline in FY25. Chief Financial Officer Dilip Panjwani noted that the company’s order book has grown from 800 MW last year to 2.1 GW currently. For FY25, Panjwani emphasized their existing order book of 2.1 GW and highlighted the government’s policy mandating 50 GW of renewable energy tenders annually as a significant opportunity within their 15.5 GW…