Finance

Removal of priority-sector lending cap: Solar industry reaction

The power minister’s proposed move is a step in the right direction towards meeting the 40 GW rooftop solar target as it removes the financing hurdle for small and medium enterprises (SMEs).

Europe announces plans for battery gigafactories

In news that will add urgency to Indian government efforts to establish a domestic storage industry, funding has apparently been secured for 16 GWh-plus production lines in Sweden and Germany. Is India at risk of being left in the starting blocks?

Bifacial beats Trump’s tariffs

Federal trade authorities in the U.S. have ruled bifacial solar modules will no longer be subject to the Section 201 ruling which applies a 25% tariff to solar panel imports.

Azure Power turns a profit

The NYSE-listed developer appears to have turned the corner after reporting a full year profit of Rs138,493 after a Rs10 lakh loss a year ago. Borrowings are on the rise though, as the company plans to drum up an ever larger project portfolio.

Lithium gigafactory target is raised to 50 GW, tender likely soon

The government is considering financial incentives such as import and export duty waivers to woo battery manufacturers to set up a globally competitive manufacturing base in India.

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Power minister seeks removal of priority sector lending limit for renewable energy sector

Easy access to finance topped the agenda of the minister’s meeting with various stakeholders, wherein issues related to land acquisition and Goods and Services Tax (GST) were also discussed.

Telangana pitches for 5 GW lithium-ion battery plant

Following the Indian government’s 40 GW plan for the states, Telangana has pitched for setting up a 5 GW lithium ion plant by announcing the ready availability of 200 acres of land and power and water for the fab at a concessional rate.

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NTPC mulling solar power project without a power purchase agreement

With continuous decline in costs of solar power generation, the chorus for shortening the 25-year power purchase agreement (PPA) period is growing louder.

India added 2.5 GW in Q1, 18.4 GW in pipeline: Bridge to India

Solar installations picked up significantly in the January-March period, with 1.89 GW of utility-scale PV projects providing 76% of the quarterly total. Rooftop PV accounted for the remaining 590 MW of new capacity additions. Looking ahead, Bridge to India expects the uptrend to continue, as the first quarter ended with a record amount of capacity in the national pipeline.

Japanese firm Mitsui invests in Mahindra Susten to support its solar expansion

The Mahindra Group cleantech firm will continue to have majority 51% stake in its subsidiary Marvel Solren, with Mitsui owning the balance. Currently, Marvel operates four distributed solar projects in India with a combined capacity of 16 MW, which the two partners aim to expand to 150 MW by 2023.

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