India

India | News

Union Minister reviews Kerala’s power sector scenario
By December 24, 2024December 24, 2024

Union Minister of Power Shri Manohar Lal reviewed Kerala’s power sector at a meeting in Thiruvananthapuram. Shri Suresh Gopi, Minister of State for MoPNG & Tourism, and Shri K Krishnankutty, Kerala’s Minister for Electricity, attended with officials from the State Government, GoI, and Power Finance Corporation (PFC). Key topics included power demand, supply, capacity additions in renewable, hydro, and nuclear sectors, and the status of the Revamped Distribution Sector Scheme (RDSS). Kerala highlighted concerns over…

Read More Union Minister reviews Kerala’s power sector scenario
India | News

Maharashtra reaffirms commitment to free power for farmers
By December 24, 2024December 24, 2024

Maharashtra Chief Minister Devendra Fadnavis reaffirmed his government’s commitment to continue providing free electricity to farmers and promote solar energy adoption in the agricultural sector. In the 2024 Assembly elections, the BJP had promised that farmers in the state would maintain access to free electricity. Farmers using agricultural pumps up to 7.5 horsepower are eligible for this benefit. The state government spends Rs 100 billion on power subsidies for farmers, with subsidies in place even…

Read More Maharashtra reaffirms commitment to free power for farmers
India | News

Lending to renewable energy projects in India rises 63% in 2023
By December 24, 2024December 24, 2024

Lending to renewable energy (RE) projects in India surged by 63% in 2023, reaching Rs 302.55 billion, compared to the previous year, according to a report by the Centre for Financial Accountability. Solar energy accounted for 49% of the funding, with Rs 148.14 billion directed toward solar projects. Hybrid projects saw a 31% year-on-year increase, attracting Rs 137.73 billion. Only one loan was made for wind energy projects, highlighting a shift towards solar and hybrid…

Read More Lending to renewable energy projects in India rises 63% in 2023
India | News

RIL picks up 26% stake in Adani’s power project
By December 24, 2024December 24, 2024

Reliance Industries, led by Mukesh Ambani, has acquired a 26% stake in Gautam Adani’s Mahan Energen Ltd (MEL), a subsidiary of Adani Power Ltd, as part of a deal to secure 500 MW of electricity for captive use. Reliance will invest Rs 500 million equity shares of MEL, at a face value of Rs 10 per share. The agreement includes a 20-year Power Purchase Agreement (PPA) under the Captive User policy, with one unit of…

Read More RIL picks up 26% stake in Adani’s power project
India | News

NTPC Green signs MoU with Bihar government for renewable energy
By December 24, 2024December 24, 2024

NTPC Green Energy Limited (NGEL), a subsidiary of NTPC, has signed a Memorandum of Understanding (MoU) with the Department of Industries, Government of Bihar, during the “Bihar Business Connect 2024” Global Investors’ Summit in Patna on December 20, 2024. The MoU was signed by Shri Alok Ranjan Ghosh, Director (Industries), Government of Bihar, and Shri Bimal Gopalachari, Addl. GM (Business Development), NGEL, in the presence of Bihar’s Industries Minister, Shri Nitish Mishra, and other officials…

Read More NTPC Green signs MoU with Bihar government for renewable energy
India | News

Shriram Finance launches Shriram Green Finance for sustainable projects
By December 23, 2024December 23, 2024

Shriram Finance Limited has introduced Shriram Green Finance, a dedicated vertical for funding sustainable projects beyond electric vehicles (EVs). The initiative will focus on financing EVs, battery charging stations, renewable energy products, energy-efficient machinery, and other green energy solutions. Shriram Green Finance aims to achieve an Asset Under Management (AUM) of Rs 50 billion within 3 to 4 years by securing domestic and global funds for green investments. Leveraging its presence in semi-urban and rural…

Read More Shriram Finance launches Shriram Green Finance for sustainable projects
India | News

Ashoka Buildcon to invest Rs 90 billion in green hydrogen project in Bihar
By December 23, 2024December 23, 2024

Ashoka Buildcon plans to invest Rs 90 billion in establishing a green hydrogen plant in Bihar. The company has signed a memorandum of understanding with the Bihar government for the project. The plant will include a 1,250 MW solar project to produce clean electricity for generating green hydrogen through water electrolysis. The first phase, located in Begusarai, Bihar, is expected to be commissioned within 1.5 to 2 years after obtaining the necessary clearances. The second…

Read More Ashoka Buildcon to invest Rs 90 billion in green hydrogen project in Bihar
India | News

Sterling and Wilson secures Rs 12 billion solar contracts in Gujarat
By December 23, 2024December 23, 2024

Sterling and Wilson Renewable Energy Limited (SWREL) has won a Rs 12 billion contract for a 500 MW AC solar photovoltaic project in Gujarat. The project includes design, engineering, procurement, and construction (EPC) for the Balance of System (BOS) and a three-year operations and maintenance (O&M) contract. This month, SWREL secured a Rs 5.04 billion contract to develop a 305 MW AC / 396 MWp DC solar photovoltaic plant in Rajasthan. Awarded by an independent…

Read More Sterling and Wilson secures Rs 12 billion solar contracts in Gujarat
India | News

TPREL and Canara Bank partner to promote rooftop solar systems
By December 23, 2024December 23, 2024

Tata Power Renewable Energy Limited (TPREL) has collaborated with Canara Bank to promote rooftop solar adoption under the PM Surya Ghar Scheme. For systems up to 3 kW capacity, loans of up to Rs 200,000 are available with a 10 per cent margin, no collateral, a 7 per cent annual interest rate, and a 10-year tenure. For systems between 3 kW and 10 kW, loans up to Rs 600,000 are offered with a 20 per…

Read More TPREL and Canara Bank partner to promote rooftop solar systems
India | News

HPERC issues banking regulations under green energy open access policy
By December 23, 2024December 23, 2024

The Himachal Pradesh Electricity Regulatory Commission (HPERC) has notified banking regulations under its Green Energy Open Access Policy. It permits consumers to bank up to 30 per cent of their monthly electricity consumption procured from the distribution licensee. Banking charges are set at 8 per cent of the banked energy, adjusted in kind. The distribution licensee must establish a detailed banking procedure and model agreement within 30 days of notification. The policy defines green energy…

Read More HPERC issues banking regulations under green energy open access policy