A new report says the Indian States must develop plans to incentivize investments into the deployment of utility-scale battery storage—just as they did for solar.
India ranks behind the United States and China in IHS Markit’s latest rankings of most attractive solar markets.
Indian Renewable Energy Development Agency Ltd (IREDA), the implementing agency for the Production Linked Incentive (PLI) Scheme, would soon issue the selection document for solar manufacturers who wish to apply for state cash to set up production lines in India.
SHV Energy, a Netherlands-headquartered global distributor of liquefied petroleum gas (LPG), has invested in India’s SunSource Energy as it seeks to realize new opportunities within distributed renewable energy. The investment also enables SunSource to expand its distributed solar portfolio.
Solar manufacturers have welcomed the bidding criteria which apply to the incentives offered for setting up gigawatt scale, high-efficiency PV production lines but would like a bigger budget, to finance significant capacity build-up.
The federal government will provide INR968 crore of soft loans for a INR1307 crore, 100 MW solar park near the Jamuna river in Bangladesh’s Jamalpur district, where a second park of a similar size is being planned by Dhaka and a Chinese partner.
Solar manufacturers who wish to apply for state cash to set up production lines must meet minimum requirements for manufacturing scale and module efficiency, and must produce at least solar cells and modules to be shortlisted. They will then bid for the amount of incentives they want over a five-year period, with extra weight given to applicants who will manufacture more of the supply chain, from polysilicon downwards.
The U.S. Trade and Development Agency (USTDA) is funding the 300MW wind-solar-storage project as part of its mission to promote sustainable infrastructure projects in partner countries like India.
The Hyderabad-based developer shall use the capital to expand its solar portfolio as it targets 3 GW of PV capacity across all its verticals by 2025. The investment, in the form of non-convertible debentures, marks CDC’s foray into India’s commercial and industrial solar segment.
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