Rapid growth in U.S. solar market requires new approaches to project delivery
The workforce and supply chain challenges faced by growing solar industry can be overcome through new partnerships and contracting approaches between EPCs and developers, according to a McKinsey report.
Avaada Energy gets LoI for 400 MW DC solar project from GUVNL
The developer won 200 MW solar capacity at a tariff of INR 2.75 ($0.034)/kWh with an additional 200 MW under green shoe option at INR 2.71 ($0.033)/kWh through competitive bidding followed by an e-reverse auction.
SJVN to build 5 GW of renewable energy projects in Maharashtra
The state-owned hydropower producer has signed a memorandum of understanding (MoU) with the Maharashtra State Power Generation Co. (MAHAGENCO) to develop 5 GW of renewable energy projects across hydro, pumped storage, wind, solar, hybrid, and green hydrogen technologies in Maharashtra.
Southeast Asia solar markets set for growth this year
New PV capacity additions in Southeast Asia are expected to bounce back this year for the first time since 2020, according to the Asian Photovoltaic Industry Association. The market is expected to grow by 13% in 2023, for 3.8 GW of new installations.
India, France discuss ISA priorities for accelerating global energy transition
In a meeting with the French delegation, India’s power minister emphasized the role of insurance for renewable energy projects, payment security mechanism, and debt financing in attracting investment into renewable energy.
Asia leads charge in renewable energy growth
IRENA’s report Renewable Capacity Statistics 2023 shows that in 2022, Asia accounted for nearly 60 percent of the worldwide increase in renewable energy generating capacity, resulting in a total of 1.63 Terawatt (TW) of renewable capacity by year end. A huge part of this increase occurred in China.
India remains world’s most attractive solar market
India has retained its crown as the most attractive market for solar investment, according to the latest edition of Ernst & Young’s renewables attractiveness index.
Global rooftop PV additions soar by 50% to 118 GW in 2022
The world installed 239 GW of new solar capacity in 2022, according to SolarPower Europe. The rooftop PV segment accounted for 49.5% of additions – the highest share in the past three years. The rooftop sectors in Brazil, Italy, and Spain grew by 193%, 127%, and 105%, respectively.
PPA prices falling across Europe, says Pexapark
Pexapark says power purchase agreement (PPA) prices are falling in Europe, with prices in Spain and Portugal down by 6.4% and 6.2% to €40.90 ($43.99)/MWh and €39.60/MWh, respectively.
India installed third most solar capacity in the world in 2022
India installed an impressive 17.4 GW of new solar capacity in 2022, retaining its third spot in annual PV capacity addition globally.
