India’s installed solar capacity has grown 4000% over the last decade, Union Minister of Commerce and Industry Piyush Goyal said at the 11th India Energy Storage Week (IESW) 2025 held in New Delhi. Mr. Goyal said India’s total renewable energy capacity has reached 227 GW. He also claimed that India is likely the first G20…
Shakti Pumps has completed its qualified institutions placement (QIP) issue, raising Rs 2.926 billion from institutional investors. The shares were issued at Rs 918.00 each, reflecting a 4.97 per cent discount to the Securities and Exchange Board of India’s floor price of Rs 965.96. The funds will be used to set up a greenfield manufacturing…
H&H Aluminium has inaugurated its new solar frame manufacturing plant in Rajkot, Gujarat. The facility has a manufacturing capacity of 24,000 metric tonnes per annum and can support up to 6 GW of solar installations annually. The company has invested approximately Rs 1.5 billion in the new plant. Trial production began in June 2025. Commercial…
The Competition Commission of India (CCI) has approved British International Investment’s (BII) proposed investment in ReNew Photovoltaics Private Limited. BII will invest through a securities subscription arrangement in ReNew’s solar manufacturing arm, which focuses on producing solar modules and cells in India. BII has made several climate-focused investments in the country over the past two…
The Ministry of New and Renewable Energy (MNRE) has expanded the Approved List of Models and Manufacturers (ALMM) by adding 742 MW of solar module manufacturing capacity. With this update, the cumulative capacity under the ALMM has reached 91,458 MW. Two new companies, Nithin Sai Renewables (473 MW) and Worldone Energies (164 MW), have joined…
Juniper Green Energy and Rayzon Solar Limited have filed draft red herring prospectuses (DRHPs) with SEBI to raise a total of Rs 45 billion through initial public offerings (IPOs) of equity shares. Juniper Green Energy aims to raise over Rs 30 billion. The IPO will be a pure fresh issue, with no offer-for-sale component. Of…
India’s solar manufacturing capacity is set to expand significantly with new projects announced by Saatvik Solar Industries, Solarium Green Energy, and Ahaan Solar. Saatvik Solar Industries Private Limited, a wholly owned subsidiary of Saatvik Green Energy Limited (SGEL), has begun work on a 4 GW solar photovoltaic (PV) module manufacturing plant in Odisha. This is…
Rayzon Solar Limited plans to file draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth about Rs 15 billion. The offer will consist of a fresh issue of equity shares. The company has appointed leading investment banks to manage the issue. Proceeds from the IPO will…
Vikram Solar Limited has secured final approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). The IPO includes a fresh issue of equity shares worth up to Rs 15 billion and an offer for sale of up to 17.45 million equity shares by the promoter and promoter…
Jupiter Renewables, a subsidiary of Jupiter International, will invest Rs 27 billion to set up a large-scale solar photovoltaic (PV) cell and module manufacturing facility in Andhra Pradesh. The project will be developed in two phases at Rambilli in Anakapalli district. Phase 1, with an investment of Rs 15.04 billion, includes 2.4 GW of solar…