JSW Energy FY 2024 profit up 17% to INR 1,723 crore
JSW Energy posted a revenue of INR 11,941 crore and net profit of INR 1,723 crore for the fiscal year ended March 31, 2024.
India tendered ‘record’ 70 GW of renewables in FY 2024
India invited bids to set up 69.8 GW of renewable energy capacity, far surpassing the annual bidding target of 50 GW. The bidding activity surged due to large-scale potential for market growth, central government support in terms of targets and regulatory frameworks, and higher operating margins.
REC gets RBI nod to set up subsidiary in GIFT City, Gujarat
The proposed REC subsidiary at GIFT City will engage in lending, investment, and other financial services, contributing to the growth of India’s energy sector.
Tata Power secures PPA with SJVN for 460 MW renewables-plus-storage project
Tata Power Renewable Energy Ltd will develop a hybrid plant comprising solar, wind, and battery storage components to meet the 460 MW firm and dispatchable renewable power requirement.
Adani Green Energy revenue up 33% YoY to INR 7,735 crore
Adani Green Energy Ltd (AGEL) also reported its operational capacity grew 35% YoY to 10,934 MW with greenfield addition of 2,418 MW solar and 430 MW wind projects. The company’s renewable energy capacity target is now revised upwards to 50 GW by 2030.
Adani Green secures $400 million for 750 MW solar projects
Adani Green Energy Ltd has secured $400 million green loan for its under-construction solar projects in Gujarat and Rajasthan. The lenders include DBS Bank, Intesa Sanpaolo, MUFG Bank, Rabobank, and Sumitomo Mitsui Banking.
Fortum sells stake in 185 MW Indian solar portfolio
Fortum has signed an agreement to sell the remaining 43.75% share of its Indian solar power portfolio to Gentari Renewables India. Post divestment, the company still has EV charging services and a renewables development portfolio with projects at different stages in India.
India installed 15 GW of solar capacity in FY 2024: CEEW-CEF
India added 18.5 GW of renewable energy generation capacity in FY 2024, comprising 81% (15 GW) from solar (grid-scale and rooftop).
Solar bloodbath: Titans clash in ruthless price war
The ongoing price war between top global suppliers could catalyse more competitive solar panel pricing in the Indian market, potentially leading to an increase in solar adoption at both the commercial and residential levels.
Avaada Energy secures $143 million SBI loan for solar project in Gujarat
Avaada Energy has secured about INR 1,190 crore ($143 million) as a 20-year project loan facility from State Bank of India (SBI). It will use the financing to support the development of its 400 MWp utility-scale solar PV power project in Gujarat.
