India will install around 20-25 GW of new renewable energy capacity annually over the next two fiscals, driven by a healthy project pipeline and a strong bidding roadmap. The decline in solar module prices and one-year relaxation for the approved list of module manufacturers (ALMM) bode well for the capacity addition.

European Investment Bank (EIB) Vice-President Kris Peeters will confirm a EUR 1 billion loan for India’s National Green Hydrogen Mission on his four-day business visit to India this week.

NTPC Renewable Energy Ltd has invited bids to install and commission two solar projects of 100 MW each at GSECL Solar Park in Khavda. The supply of PV modules also falls under the bidder’s scope. 

The Indian steel giant, along with the UK government, has opened a call for innovative projects in low-carbon hydrogen to decarbonize the industrial sector. Two selected projects will be awarded £80,000 (INR 83 lakh) and provided priority access to Tata Steel’s integrated steel plant.

Each developer can bid for pumped storage capacities from 200 MW to 2 GW. Projects can be developed at multiple locations, with a minimum project size of 200 MW. The minimum storage cycle is six hours. Bidding closes on August 16.

To increase the share of renewable energy, India needs to introduce demand-side measures like time-of-use tariffs, develop a well-connected national grid, deploy various energy storage options for grid balancing services, and convert its fossil-fuel-powered fleet to operate flexibly.

NTPC, India’s largest power company, will use Hild Electric’s green hydrogen production technology to decarbonize energy, transport and ammonia projects.

Fortum Charge & Drive India has unveiled its new brand identity ‘Glida’ signifying its commitment to delivering a seamless electric vehicle (EV) charging experience in India. Glida plans to increase the number of its EV charging points to 3,000 by 2025 from around 450 at present.    

The International Financial Services Centres Authority (IFSCA) and Climate Policy Initiative – India (CPI) have signed a Memorandum of Understanding to support the mobilization of sustainable finance in India.

India will have to add over 30 GW of solar capacity annually to meet the 293 GW PV target in the optimal energy mix for 2029-30. The nation had installed 68 GW of PV capacity as of May 31, 2023.