India

Sterling and Wilson Renewable Energy (SWREL) has secured a domestic solar EPC order worth approximately Rs 5.5 billion for a 400 MW AC/633 MW DC project in Rajasthan. This order, from a leading private renewable IPP in India, includes engineering, design, testing, and commissioning, along with the supply and construction of a 33/220 kV switchyard.  With this latest win, SWREL’s domestic order inflows have reached around Rs 9 billion in the second quarter of FY25,…

Kinetic Green has secured a $25 million investment from Greater Pacific Capital (GPC) as part of a $40 million Series A funding round, marking its first external equity raise. The funds will accelerate production at Kinetic Green’s Supa, Maharashtra facility, and support the expansion of its electric two- and three-wheeler business. The investment will also aid in promoting the E-Luna, launched in January 2024, and expanding Kinetic Green’s global reach with its premium golf cart…

Hero Electric has restarted production at its factory in July, initially operating on a smaller scale with limited scooter manufacturing. To return to full production capacity, the company is seeking an investment of Rs 1-2 billion from both existing and new investors, including private equity funds. The company has also responded to recent claims from some of its 800 dealers, who allege that Hero Electric owes Rs 5 billion in advances for electric two-wheelers. Hero…

Hindenburg Research has accused SEBI head Madhabi Puri Buch of previously investing in offshore funds linked to the Adani Group. Buch has dismissed the allegations as baseless, affirming that all required disclosures were properly made. Hindenburg claims that Buch and her husband held stakes in a Bermuda-based fund in 2015, which reportedly had connections to Adani Group associates. The Adani Group rejected these claims, calling them an attempt to tarnish the company’s reputation. The allegations…

Tamil Nadu has achieved a new milestone in the solar power sector, generating 5,512 MW of solar power recently, surpassing the previous record of 5,398 MW set on March 5, 2024. On the day of this achievement, the absorption of power into the grid was 39.2 million units (MU), according to the Tamil Nadu Generation and Distribution Corporation (Tangedco). This new record follows significant accomplishments in Tamil Nadu’s renewable energy sector, including a record wind…

The Ministry of New and Renewable Energy has issued guidelines for implementing the ‘Model Solar Village’ component under the PM-Surya Ghar: Muft Bijli Yojana as of 9th August 2024. The scheme aims to establish one Model Solar Village in each district across India, promoting solar energy adoption and enabling villages to become self-reliant in their energy needs. A financial outlay of Rs 8 billion has been allocated for this initiative, with Rs 10 million designated…

The Uttar Pradesh government plans to train 30,000 “surya mitras” to support its goal of installing solar panels on every rooftop in the state. This effort follows the PM Surya Ghar Yojana, launched last year, which has already seen over 2.5 million solar panels installed in Uttar Pradesh. To meet the need for skilled workers in the solar sector, the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) is targeting to train these “surya…

Reliance Industries Ltd plans to commission its first solar giga-factory by the end of the 2024-25 fiscal year as part of its goal to achieve net zero carbon emissions by 2035. The factory will begin with 20 GW of solar photovoltaic (PV) manufacturing and scale up in phases through 2026. Located in Jamnagar, Gujarat, the facility will produce PV modules, cells, wafers, ingots, polysilicon, and glass at a single site. Reliance is also targeting sodium-ion…

The Solar Energy Corporation of India’s (SECI) recent renewable energy tender has stirred the solar market, setting a tariff rate of Rs 4.98-4.99 per unit for 630 megawatts (MW) of solar power. This power will be supplied to BSES Rajdhani Power, BSES Yamuna Power, and Gift City in Gandhinagar. Vena Energy, Hero Future Energies, Hexa Climate, JSW Energy, and Serentica Renewables secured the bids, with JSW Energy winning 230 MW at Rs 4.98 per unit,…

The Indian government has mandated domestic solar cell and module manufacturers to upload details of their annual imports, exports, and manufacturing facility locations on two online portals. This move by the Ministry of New and Renewable Energy (MNRE) aims to prevent the mislabeling of imported solar cells as domestic products, ensuring compliance with Domestic Content Requirement (DCR) standards. The new rules require manufacturers listed in the Approved List of Models and Manufacturers (ALMM) to report…