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EIB grants €120 million loan to Iberdrola for energy innovation in Spain
The European Investment Bank (EIB) has signed a €120 million loan agreement with Iberdrola to support research and innovation in energy technologies, focusing on accelerating electrification and decarbonisation. The total investment associated with these initiatives amounts to €250 million. The funding will be directed toward the development of renewable energy technologies, including solar photovoltaic, hydro, wind power, hybrid, and agrovoltaic projects. It will also support research into decarbonisation technologies such as green hydrogen and heat…
DGTR for anti-dumping duty on certain type of solar glass from China, Vietnam
The Directorate General of Trade Remedies (DGTR) has proposed an anti-dumping duty on imports of textured tempered glass (TTG), commonly used in solar panels, from China and Vietnam. This duty, recommended at the lesser of the dumping margin or injury margin, aims to protect the domestic industry from harm due to underpriced imports. The final decision will be made by the Ministry of Finance following a 30-day feedback period and subsequent oral hearings. The DGTR’s…
UK closes its last coal-fired power station, marking the end of a 142-year era
The UK shut down its last coal-fired power station, Ratcliffe-on-Soar in Nottinghamshire, on September 30, 2024, marking a historic shift towards renewable energy. The Uniper-owned plant, which was “desynced” from the grid system shortly after 3 pm, ends the country’s 142-year reliance on coal for electricity production. Since 1882, when the UK became the first nation to use coal for public power generation, coal has played a pivotal role in its energy supply. However, coal’s…
Waaree Renewable posts robust Q2 growth with Rs 5,244.7 million revenue
Waaree Renewable Technologies Limited (WRTL), the solar EPC arm of Waaree Group, reported Q2 FY25 revenue of Rs 5,244.7 million, a 249.50% increase from Rs 1,500.6 million in Q2 FY24. Profit after tax (PAT) stood at Rs 535.2 million, while its unexecuted order book remains at 1.7 GWp with a 9-12 month timeline. For H1 FY25, revenue reached Rs 7,608.2 million, up 172.70% year-on-year, with an EBITDA of Rs 1,126.5 million, marking a 155.56% increase….
MNRE sets new terms for rooftop solar CFA under PM Surya Ghar Yojana
The Ministry of New and Renewable Energy (MNRE) has issued specific guidelines for real estate developers and promoters to access Central Financial Assistance (CFA) under the PM Surya Ghar: Muft Bijli Yojana (PMSGY). The initiative aims to promote widespread adoption of rooftop solar installations in residential housing complexes. According to the new terms, developers must provide an undertaking that the rooftop solar assets supported under the PMSGY will be handed over to the respective group…
Taiwan awards 2.7GW in latest offshore wind auction
Taiwan’s Ministry of Economic Affairs (MOEA) has allocated 2.7GW of capacity to five wind farm projects in its latest round 3.2 offshore auction. The awarded projects include Shinfox’s 700 MW Youde, Synera Renewable Energy Group’s (SRE) 800 MW Formosa 6, Copenhagen Infrastructure Partners’ 600 MW Fengmiao 2, Corio and TotalEnergies’ 360 MW Formosa 3 joint-venture, and Enervest’s 240 MW Deshuai. Notably, Ørsted’s 570 MW Greater Changhua 3 proposal was not selected despite ranking third in…