Avaada Power to develop 1.6 GW of solar in Uttar Pradesh
Avaada Power Pvt Ltd has committed US$1.55 billion to develop solar PV projects in the state of Uttar Pradesh.
Rockefeller Foundation, Ckers Finance partner to develop India’s decentralized renewable energy sector
U.S.-based Rockefeller Foundation has partnered with cKers Finance, a New-Delhi based finance company, to help develop the decentralized renewable energy (DRE) sector in India. cKers will invest $50 million across DRE and sustainable energy portfolio in the near term.
India’s Sterling and Wilson to build 54.3 MW solar plant in Zambia
The PV plant will be the nation’s largest once complete, and will be implemented under the International Finance Corporation’s Scaling Solar program.
Azure Power announces results for fiscal third quarter 2018
As of December 31, 2017, Azure power has 1,580 MW operating & committed capacity, an increase of 48% over December end 2016. Revenue for the third quarter was INR 1,739.9 million ($27.3 million), an increase of 83% over the quarter ended December 31, 2016. The company’s adjusted EBITDA for the quarter was INR 1,226.9 million (US$19.2 million), an increase of approximately 76% over the fiscal third quarter 2017.
Budget 2018-19 – What’s in there for solar?
India’s budget disappoints a solar industry still hungry for clarity on duties, tariffs and additional support. Here is a breakdown of the budget’s main points, with reaction from industry.
Guyana, and Togo ratify ISA framework
With two new countries, the Republic of Guyana, and Togo, the number of nations to have ratified the International Solar Alliance (ISA) framework agreement has reached 21. ISA will host 6th International Steering Committee (ISC) meeting on February 20.
World Bank, IREDA sanction $33 million for solar parks in Madhya Pradesh
Under the World Bank and IREDA’s $100 million proposals for solar park development, IREDA has approved its first loan of $33 million to Rewa Ultra Mega Solar Limited (RUMSL) in Madhya Pradesh.
ISA 9th get-together and stakeholder meeting
The 9th monthly get-together and stakeholder’s meeting of the International Solar Alliance was held on January 24. The event witnessed several announcements from companies such as TATA ($2.25 million Incubation hub), NTPC (new developments), Power Grid Corporation of India (new battery storage projects), Infosys (smart PV solutions), and Emami.
WFES: ISA signs letters of intent for $5bn financing, MNRE announces $350 million for solar
This week’s World Future Energy Summit (WFES) saw a letter of intent inked at the International Solar Alliance’s (ISA’s) pavilion to secure financing of up to US$5 billion with India’s YES Bank by 2030. MNRE head, R.K. Singh also announced a $350 million solar development fund by the Indian Government for solar projects.
Summary: Central subsidies for solar PV
The Indian government has introduced a number of subsidies under various categories of solar projects, from big PV parks to small rooftop and off-grid installations, in order to achieve its 100 GW solar target by 2022. The current status of the subsidies are summarized below.
