Utility Scale PV

Erisha E Mobility will invest INR 6,900 crore in setting up an electric vehicle park, charging infrastructure, and green hydrogen production facilities in Gujarat.

Torrent Power will invest INR 47,350 crore (around $5.7 billion) in green hydrogen and green ammonia production, solar and hybrid power generation, and power distribution in Gujarat.

In December alone, the Bangladeshi authorities approved 630 MW of PV projects.

Erisha E Mobility will set up a green hydrogen ecosystem in Gujarat with an investment of INR 5,000 crore (over $600 million).

The Indian state of Uttar Pradesh has solar and other clean energy projects with a total investment outlay of INR 1 lakh crore ($12 billion) in the pipeline.

NLC India Ltd, a mining company under India’s Ministry of Coal, has invited bids to set up a 100 MW solar power project with operation and maintenance for three years. Bidding closes on Jan. 18.

SJVN Ltd will form joint ventures with Maharashtra State Power Generation Co. Ltd and Assam Power Development Co. Ltd to develop 5 GW and 1 GW of renewable energy projects, respectively.

Solar Energy Corp. Of India (SECI) has invited bids to develop 1.5 GW of solar PV power projects on a build-own-operate basis. The projects can be located anywhere in India and must connect to the interstate transmission system. Bidding closes on Jan. 31.

The number of PV installations around the world grew by an annual average of 28% between 2019 and 2023, including a 56% jump from 2022 to 2023, according to Wood Mackenzie. Growth is not expected from 2024 to 2028, however.

The Indian solar PV sector is experiencing transformative trends, driven by a combination of technological advancements, government support, and a growing awareness of the need for sustainable energy sources. The rapid expansion of solar capacity, coupled with innovations such as floating solar farms and green hydrogen production, paints a promising picture for the future of renewable energy in India.