Waaree Renewable awarded 180 MW solar project in Tamil Nadu
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.
Additional PLI funds will push solar sector to achieve 2030 target
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.
Virescent Renewable Energy Trust raises INR 650 crore via domestic bonds
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.
Adani Green Energy raises INR 612 crore for debt refinancing
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.
Scatec and Acme put their 900 MW Rajasthan solar project on hold
Norway’s Scatec, which has a 50% stake in Acme’s 900 MW solar project in Rajasthan, cited a lack of domestic solar panel supply and the 40% import duty on solar panels effective from April as the reasons for putting the PV project on hold.
Rajasthan to create geo mapping-based data bank for renewable energy projects
The move is aimed at identifying chunks of land for solar plants and solar parks as the State government looks into the possibility of developing more capacity in the state and further increasing its ‘37.5 GW by 2024-25’ renewable energy generation target.
BloombergNEF says global solar will cross 200 GW mark for first time this year, expects lower panel prices
The analyst also forecasts strong growth for the storage business and a significant increase in PPAs for photovoltaic projects in Europe. It also said the newly installed PV capacity for 2021 reached 183 GW.
Union Budget targets domestic production with 40% solar import duty and boost to manufacturing-linked incentive
The budget presented today by finance minister Nirmala Sitharaman allocates an extra INR19,500 crore (US$2,602 million) to the production-linked incentive scheme for solar and notifies basic customs duty of 40% on foreign-made solar modules and 25% on cells, from April.
Sungrow signs inverter supply contract for 75 MW of solar projects in Uttar Pradesh
The Chinese manufacturer will supply its 3.125 MW central inverter solution SG3125HV for the 75 MW solar power project being set up by state-owned hydropower producer SJVN Limited.
Gujarat tenders 166 MW of solar EPC work
Gujarat State Electricity Corporation Limited has invited bids to set up an aggregate 166 MW of grid-connected solar plants in Gujarat. The plants shall come up at locations around GETCO substations in Kutchh, Morbi, and Surendranagar districts. Bidding closes on February 25.
