India’s EV Market: From Subsidies to Market-Driven Growth

Analysis

Union Minister Nitin Gadkari recently stated that the electric vehicle (EV) industry has matured to a point where government subsidies are no longer necessary to support manufacturers. Consumers are now choosing EVs or CNG vehicles on their own, potentially causing a shift in India’s mobility industry.  Gadkari highlighted that the cost of manufacturing EVs has dropped over the years, further making subsidies unnecessary. A study by Lawrence Berkeley National Laboratory found that the cost of…

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Romania, Hungary, Georgia and Azerbaijan launch Black Sea power line

Global, News

Romania, Hungary, Georgia, and Azerbaijan have officially launched the Black Sea power line project aimed at enhancing the European Union’s renewable energy capacity. The project, developed in response to the EU’s need for energy diversification following Russia’s invasion of Ukraine, is expected to strengthen the region’s energy security. The initiative involves constructing an undersea cable that will connect wind farms in Azerbaijan’s Caspian Sea to Romania and Hungary via Georgia, supplying renewable energy to the…

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Arevon Energy secures $299 million financing for Indiana solar projects

Global, News

Arevon Energy has secured $299 million in debt financing for its Ratts 1 and Heirloom Solar Projects in Pike County, Indiana. These projects will contribute 264 MW (MWdc) of renewable energy to the Midwest and MISO region. Construction is already underway, with full operational status expected by the third quarter of 2025. The financing package includes a $119 million construction-to-term loan, $159 million tax equity and credit bridge loan, and a $21 million letter of…

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48 per cent GST on hybrid cars, 5 per cent on EVs to stay: Amitabh Kant

India, News

Mercedes-Benz India’s Managing Director and CEO, Santosh Iyer, has praised the Central government’s commitment to the transition from internal combustion engine (ICE) cars to electric vehicles (EVs). Iyer referred to the recent statement by India’s G20 Sherpa, Amitabh Kant, reaffirming the country’s long-term plan to maintain a 5% tax on electric cars and 48% tax on hybrid vehicles.   On Thursday, Mercedes-Benz launched its first electric Maybach SUV, the Maybach EQS 680, starting at Rs 22.5…

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ISTS scheme for green hydrogen units in Tuticorin approved

India, News

The National Committee on Transmission (NCT) has approved a Rs 26.17 billion interstate transmission system (ISTS) to support upcoming green hydrogen and green ammonia projects in the Tuticorin area of Tamil Nadu. The project, titled “Transmission system for proposed green hydrogen/green ammonia projects in Tuticorin area,” will be implemented under tariff-based competitive bidding (TBCB) with REC Power Development & Consultancy Ltd (RECPDCL) serving as the bid process coordinator. The project will be completed within 30…

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Reliance Industries awarded 10-GWh battery storage plant under PLI scheme

India, News

The government has awarded Reliance Industries Limited (RIL) a 10-GWh Advanced Chemistry Cell (ACC) battery storage plant under the Production-Linked Incentive (PLI) scheme, selected through a quality and cost-based selection (QCBS) mechanism. Under the scheme’s terms, RIL has to ensure at least 25 per cent domestic value addition, increasing to 60 per cent within five years, and make a mandatory investment of Rs 2.25 billion per GWh for the committed capacity within two years. According…

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Australia reduces Bunbury offshore wind zone size in Western region

Global, News

The Australian Government has revised the planned Bunbury offshore wind zone in Western Australia, reducing its size by half to just under 4,000 km², down from the initially proposed 7,674 km². This decision follows consultations with community groups, First Nations people, fishers, industry representatives, local leaders, and unions. The revised zone in the Indian Ocean will now be at least 30 km from shore at its closest point and 40–50 km from coastal towns, compared…

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NTCSA signs agreements with 19 local firms in South Africa for overhead line construction

Global, News

South Africa’s National Transmission Company South Africa (NTCSA) has entered into long-term agreements with 19 local companies for various categories of overhead line construction panels, including engineering, procurement, and construction (EPC). These agreements include five companies for EPC, nine for procurement and construction (PC), and a total of 17 companies for construction. The firms selected after the tender issued in May 2023 include Ady Em Technical, the Bona-GPWG JV, Imbawula Technical Services and Suppliers Group,…

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Maharashtra becomes India’s second-largest state for rooftop solar installations

India, News

According to a recent report by Mercom India, Maharashtra has emerged as the second-largest state in India for cumulative rooftop solar installations, contributing 13.3% to the country’s total photovoltaic (PV) installations. The state has installed 1.5 GW of rooftop solar capacity, trailing only Gujarat, which leads with 3.2 GW. The Mumbai Metropolitan Region (MMR) alone accounts for 8% of Maharashtra’s total installed rooftop capacity. The report also highlights that Maharashtra added 95 MW of rooftop…

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Challenges and action plan for a sustainable power sector in Bangladesh

Global, News

Bangladesh’s power sector is currently undergoing aggressive expansion with a focus on fossil-fuel-based capacity, leading to challenges such as overcapacity, high generation costs, revenue shortfalls, and a growing subsidy burden. The sector’s overcapacity is evident with an installed generation capacity of 28,166 MW compared to a peak demand of just 17,200 MW, resulting in a surplus of 38.9%, which rises to over 60% during the winter. This surplus is particularly problematic because the system is…