The State-owned hydropower producer has proposed an investment of INR 50,000 crore (around US$6,683 million) to develop 10 GW of solar power projects in the State in the next five years.
The developer has commissioned a 17.6 MW captive wind-solar project to supply clean energy to Grasim Industries Limited’s Chlor-Alkali unit in the Bharuch district. The second phase will see an additional installation of 16.68 MW for the same unit.
Gujarat-based KPI Global will execute a 25 MW DC solar project for Greenlab Diamonds. Sungrow has signed a contract with Roofsol Energy to implement its solar inverter solutions for 50 MW solar projects across India.
The Indian solar manufacturer’s new facility in Haryana is equipped to make mono PERC, half-cut, multi-busbar technology, to produce high-efficiency PV modules with 530-610Wp of power output.
The selected developer will be required to set up a 25 kW green hydrogen project at Sonam Norboo Memorial (SNM) Hospital in the Leh district, for the supply of electricity, heat, and oxygen to the hospital. Bidding closes on March 10.
After 140 MW in Gujarat, the company has secured a 180 MW DC solar project in Tamil Nadu. It shall set up the plant on a turnkey basis.
India should not just rely on solar equipment imports but also promote domestic manufacturing to ensure an uninterrupted march to its 280 GW target of installed solar power capacity by 2030. The budgetary allocation of an extra INR19,500 crore (US$2,602 million) to the production-linked incentive scheme for solar provides the much-needed impetus for domestic production, say GlobalData analysts.
The investors included domestic financial institutions India Infrastructure Finance Company Limited and Aseem Infrastructure Finance Limited. Virescent shall use the proceeds primarily to fund solar asset acquisitions related debt requirements.
The developer’s three arms, which collectively have 930 MW of operational solar power projects, have raised INR 612.30 crore (US$81.96 million) through their maiden domestic bond issuance. The proceeds will be utilized to part-refinance existing rupee term loan bearing higher interest cost.
The annual demand for lithium-ion batteries in India will reach 116 GWh in FY 2029-30, with electric vehicles (EVs) accounting for 90%.
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