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Sunsure Energy secures Rs 100 billion debt financing from REC

India, News

Sunsure Energy has signed an agreement with REC for debt financing worth Rs 100 billion to support the development of 3 GW of solar, wind, hybrid, and battery energy storage system (BESS) projects. The deal was inked during the fourth Global RE-Invest Meet and Expo organized by the Ministry of New and Renewable Energy (MNRE) in Gujarat. This financing will enable Sunsure Energy to expand its portfolio of open-access hybrid projects across India, helping the…

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AM/NS India launches Rs 10 billion steel line for solar panel manufacturers

India, News

ArcelorMittal Nippon Steel (AM/NS) India has launched a value-added steel line, Magnelis, with an investment of nearly Rs 10 billion at its Hazira plant in Gujarat. The production line, with a capacity of 500,000 tonnes per annum, is aimed at solar panel manufacturers. The company is in talks with major customers like Adani Green Energy, Reliance Industries, Sterling & Wilson, and NTPC. AM/NS is also planning a new steel line for the automotive sector by…

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Tata Group and Analog Devices ally for semiconductor manufacturing

India, News

Tata Group and global semiconductor leader Analog Devices (ADI) have signed a memorandum of understanding (MoU) to explore semiconductor manufacturing opportunities in India. Tata Electronics, Tata Motors, and Tejas Networks will collaborate with ADI to enhance business cooperation, focusing on applications like electric vehicles and network infrastructure. Tata Motors and ADI will work on electronics hardware components for energy storage and power electronics in commercial and passenger vehicles, while Tejas Networks and ADI will explore…

Key Power Sector News Roundup for September 20, 2024

Power Bytes

Tata Group and Analog Devices Collaborate on SemiconductorsTata Group and Analog Devices have partnered to explore semiconductor manufacturing in India, focusing on applications for electric vehicles and network infrastructure.  uctor supply chain. Sunsure Energy Secures Rs 100 Billion REC FinancingSunsure Energy has secured Rs 100 billion in financing from REC to support 3 GW of solar, wind, and energy storage projects, aiming to offset 5 million tonnes of CO2 annually and aid India’s green energy…

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Hero Future to invest USD 20 billion, targeting 30 GW capacity by 2030

India, News

Hero Group’s power unit, Hero Future Energies, plans to invest USD 20 billion over the next six years to expand its capacity nearly 16-fold. The investment will focus on wind, solar, and battery storage technologies, funded through a mix of internal resources, debt, and equity. With 3.4 GW of capacity under construction, set to be completed within two years, Hero Future Energies aims to increase its current 1.9 GW capacity to 30 GW by 2030….

Key Power Sector News Roundup for September 19, 2024

Power Bytes

Union Cabinet Approves Rs 91.97 Billion Bio-RIDE SchemeIndia’s Union Cabinet has greenlit the Bio-RIDE initiative to drive biotechnology and biomanufacturing innovation with a budget of Rs 91.97 billion. The scheme aims to boost India’s bioeconomy, particularly in healthcare, agriculture, and clean energy sectors. Inox Wind Secures 550 MW Wind ProjectInox Wind has won a 550 MW wind project from IGREL Renewables, expanding its order book to over 3.5 GW. The project will be developed across…

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Renewable energy developers commit massive capacity investments at RE-Invest 2024

India, News

At the RE-Invest event in Gandhinagar, Gujarat, several renewable energy developers have made significant capacity creation commitments as part of their “Shapath Patra” agreements with the government. Reliance Industries (RIL) has pledged to set up 100,000 MW of additional renewable capacity by 2030, alongside manufacturing 20,000 MW per year of integrated solar PV and equivalent glass capacity. Other major commitments include: NTPC Ltd: 41,300 MW ReNew: 40,000 MW Adani Green Energy: 38,300 MW Hero Future…

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India secures $386 bn investment commitments for renewable energy at RE-Invest 2024

India, News

Ministry of Renewable Energy has received investment commitments totalling $386 billion from banks and financial institutions at the RE-Invest conference in Gandhinagar, Gujarat. These investments aim to help India double its clean electricity capacity by 2030, targeting 500 GW of non-fossil capacity. ReNew, a major renewable energy company pledged to expand its renewable capacity from 10 GW to 50 GW by 2030, with 10 GW dedicated to storage. The company also plans to produce 1…

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Transformers and Rectifiers secures Rs 1.14 billion order from RRVPNL

India, News

Transformers and Rectifiers (India) Ltd (TRIL) has secured an order worth Rs 1.14 billion from Rajasthan Rajya Vidyut Prasaran Nigam (RRVPNL) to supply 50 MVA, 132/33 kV power transformers. The delivery is expected by the next financial year. This follows a Rs 910 million order from SPIL last month. TRIL, known for high-voltage transformers, has achieved significant milestones, including the world’s first 420 kV ester fluid-filled shunt reactor. With three manufacturing units in Gujarat and…

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MSEDCL awards 5 GW solar power contract to Adani Power

India, News

Maharashtra State Electricity Distribution Company (MSEDCL) has issued a letter of intent (LoI) to Adani Power (APL) for the supply of 5,000 MW of solar power to Maharashtra. This follows Adani Group’s successful bid to supply a total of 6,600 MW, including 5,000 MW of solar power and 1,600 MW of thermal power. Adani Green Energy (AGEL) will enter into a long-term power purchase agreement (PPA) with MSEDCL to provide solar energy from the world’s…