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Global renewable capacity increased by 295 GW last year, bringing the world to a cumulative installed capacity of 3,372 GW, according to the International Renewable Energy Agency (IRENA).

Experts at TERI say the money collected as cess on coal could be used to create a Green Equity Fund and also provide viability gap funding for energy transition projects.

Bihar-based Husk Power Systems, which serves rural Asia and Africa, became EBITDA positive in the fourth quarter of 2022 in India and Nigeria. 

India installed 13,956 MW of new solar capacity from January to December. This included 11.3 GW of utility-scale PV, about 1.9 GW rooftop, and nearly 700 MW off-grid/distributed.

Bihar-based Husk Power Systems has secured $750,000 in debt to build eight new community solar microgrids in Nigeria and expand operations in India.

India has installed a cumulative renewables capacity (excluding large hydro) of 122 GW as of December 31, 2022, falling 30% short of its 175 GW target. While solar addition has remained more consistent than wind over the last few years, 2023 is going to be a challenging year for PV installation due to the shortage of domestically manufactured modules.

Here are three trends in the solar sector that will gain momentum in 2023, leading to wider PV implementation.

India installed 3,338 MW of new solar power capacity in the three months ending September. This included 2,602 MW from utility-scale solar, 485 MW rooftop, and 251 MW off-grid installations

SolarX Grand Challenge aims to promote entrepreneurship and innovation and discover local solutions to meet the energy gap through solar energy solutions in the African region.

The Global Energy Alliance for People and Planet (GEAPP) has signed a $10 million grant agreement with the International Solar Alliance (ISA) to boost the deployment of solar energy in developing countries.