REC commits $123 million for renewable energy projects in Madhya Pradesh
The state-owned non-banking finance company has signed a memorandum of understanding with Rewa Ultra Mega Solar Ltd (RUMSL) to provide INR 1,000 crore ($123 million) for the development of renewable energy parks and associated infrastructure in Madhya Pradesh.
Madhya Pradesh to launch three new floating solar projects soon
The state will launch three floating solar projects worth INR 7,500 crore ($919 million). The new projects will be in addition to a 600 MW plant currently under development at Omkareshwar reservoir.
Japan’s MUFG Bank extends INR 450 crore credit facility to Tata Power
The Japanese bank has extended INR 450 crore sustainable trade finance facility for Tata Power’s 220 MW of solar projects in Gujarat and Maharashtra.
Bangladesh offers PPA for 68 MW of solar at $0.102/kWh
The Bangladesh Power Development Board (BPDB) has agreed to buy solar electricity from a 68 MW facility that is now under construction in the country’s Sirajganj district, as part of a new state plan to buy cheap power.
SmartHelio raises $5 million
The Swiss PV diagnostics and predictive solutions provider said it would use the amount to scale its software for solar performance management.
HPCL, NTPC sign MoU on renewable energy and storage
Hindustan Petroleum Corp. Ltd and NTPC Green Energy Ltd will collaborate in renewable energy, energy storage, round-the-clock (RTC) power, electric mobility, and solar-wind value chain projects.
Impact of dust, heat, soiling on solar project performance
Scientists in Morocco recently conducted a year-long study on the impacts of soiling on PV modules in arid, dusty conditions. They found that soiling could contribute to daily performance losses of as much as 15%.
India approves National Green Hydrogen Mission
The Union Cabinet has approved the National Green Hydrogen Mission with an initial outlay of INR 19,744 crore ($2,385 million). The Mission aims to make India a global hub for the production, utilization and export of green hydrogen and its derivatives.
India misses 2022 renewables target of 175 GW by 30%
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.
Solar in 2023
Here are three trends in the solar sector that will gain momentum in 2023, leading to wider PV implementation.
