Markets & Policy

Gensol Engineering Ltd has acquired Pune-based Scorpius Trackers for INR 135 crore ($16.42 million). The acquisition allows Gensol Engineering to offer a comprehensive solar EPC package that includes Scorpius Trackers’ innovative solar tracking technology.

Larsen & Toubro (L&T) has signed the agreement to manufacture pressurized alkaline electrolyzers in India under a technology license from France-based McPhy Energy.

Global renewable capacity increased by 295 GW last year, bringing the world to a cumulative installed capacity of 3,372 GW, according to the International Renewable Energy Agency (IRENA).

Amplus Solar has signed a memorandum of understanding (MoU) to set up distributed green hydrogen plants for industrial consumption in Andhra Pradesh with an investment of INR 1,500 crore ($181.45 million).

The state-owned oil and gas major targets 200 GW of renewable energy capacity by 2050. It also plans to have around 2 million metric tons of green hydrogen capacity in its fold by 2050.

Rail Vikas Nigam Ltd and Jakson Green have partnered to build giga-scale clean energy projects in the Middle East and North Africa (MENA), the Commonwealth of Independent States (CIS), and Asia Pacific countries.

The MoU envisages exploring prospects in renewables, LNG for road transport, regasification of imported LNG, and import and handling of different hydrocarbons which are important chemical and petrochemical precursors. 

The Ministry of New & Renewable Energy has exempted solar projects to be commissioned till March 31, 2024, from the requirement to source modules from the Approved Models and Manufacturers (ALMM) list. The move provides developers with the flexibility to source modules at the most cost-competitive rates.

Using some of India’s existing gas-based power capacity as peaking plants would be more economical than the other options in the short-term market for peak power supply. Gas-based power plants can provide ancillary services to maintain the grid’s power quality, reliability, and security as renewable energy capacity increases, says a new report by IEEFA.

Berkeley Lab study shows how deep cost reductions in clean technology and India’s renewable and lithium edge can enable a pathway for cost-effective energy independence by 2047.