India’s $2.1 billion green hydrogen programme off to a good start but there’s room for improvement
While the Strategic Interventions for Green Hydrogen Transition (SIGHT) programme is a vital first step, it can be finetuned to generate interest among start-ups and global players.
Matrix Gas & Renewables raises INR 350 crore in pre-IPO round
Matrix Gas & Renewables stated the capital raise will accelerate its green hydrogen production projects and hydrogen electrolyzer manufacturing plant, in addition to advancing the company’s growth in the gas aggregation business.
Onix Renewable to launch IPO by the end of 2024
Onix Renewable said it intends to use the proceeds from the issue to finance its renewable power projects and scale up solar module production capacity to 1.2 GW.
Utility-scale PV cheapest power source in Asia Pacific, says WoodMac
Wood Mackenzie says the levelized cost of electricity (LCOE) in the Asia-Pacific region hit an all-time low in 2023, as utility-scale PV beat coal to become the cheapest power source. It predicts a further drop in costs for new-build solar projects, driven by falling module prices and oversupply from China.
Fitch assigns Adani Green’s proposed USD notes ‘BBB- (EXP)’ rating with Stable outlook
Fitch Ratings has assigned Adani Green Energy Ltd Restricted Group 1’s proposed $409 million senior secured notes due 2042 an expected rating of ‘BBB-(EXP)’ with a stable outlook.
The rise of green finance: Financing the future of renewable energy in India
India has witnessed a surge in solar and wind energy projects, backed by investments from both domestic and international sources. Green finance plays a pivotal role in funding these projects.
ReNew posts $43 million profit in the first nine months of FY 2024
ReNew reported a total income of $870 million and net profit of $43 million in the first nine months of FY 2024.
India needs INR 30 lakh crore investment during FY 2024-30 to meet its COP Climate Pledges: IREDA CMD
The investment is required in building capacities across solar, hydro, wind, and waste-to-energy sectors, green hydrogen (including electrolyzers), batteries, and transmission.
Prime Minister Narendra Modi launches residential rooftop solar scheme for free electricity
The PM Surya Ghar Muft Bijli Yojana offers a subsidy of INR 30,000 ($361) per kW up to 2 kW for residential rooftop solar systems, and INR 18,000 per kW for additional capacity up to 3 kW. The total subsidy for systems larger than 3 kW is capped at INR 78,000.
Siemens revenue up 22% in Q1 FY 2024
Siemens Ltd has reported strong double-digit profitable revenue growth across businesses for the first quarter of financial year 2024 ended Dec. 31, 2023.
