Finance

Ohmium has collaborated with India’s CSIR-Central Electrochemical Research Institute as it aims to make green hydrogen not only cost-effective but also scalable to meet the world’s demand. The sponsorship enables it to leverage CSIR-Central Electrochemical Research Institute’s deep expertise and resources for further development of electrolyzer technology.  

The Indian developer has refinanced its existing term loan of INR 23.50 billion (US$ 313 million) for the 600MW solar project at an interest rate of 7.2% per annum, fixed for 42 months.

The solar project-ready site will be developed by state-run hydropower company THDC in a joint venture with the Uttar Pradesh New & Renewable Energy Development Agency. The International Finance Corporation will lend its expertise to attract private investment for the public-private partnership.

The funding is aimed to boost women’s access to affordable green housing in India. It includes up to $58 million direct loan by the Asian Development Bank and a $10 million concessional loan by the Canadian Climate Fund for the Private Sector in Asia.

As domestic solar manufacturers relying on imported cells remain exposed to price fluctuations, timely commissioning and ramp-up of on-going capex in module manufacturing value chain remains critical in the near to medium term.

The Bihar-based rural clean energy services provider has received US$4 million from India Renewable Energy Development Agency (IREDA) to construct 140 microgrids in the states of Uttar Pradesh and Bihar.

British analyst GlobalData has predicted residential and commercial rooftop panels will not return to a declining price trend until next year, with post-Covid logistics headaches the cause, rather than a polysilicon shortage.

The Department of Science & Technology, Government of India, and the Innovation Fund Denmark (IFD) have collaborated to fund Indian and Danish researchers on the joint development of green fuels including green hydrogen. 

Norwegian analyst Rystad Energy has warned the solar industry could suffer the same effects of rising input prices as onshore wind developers grappling with ever more costly steel, with much hinging on how much solar panel raw material polysilicon can be manufactured.

State-owned power producers THDC India, NTPC, NHPC, and SJVN have committed investments to build 10 GW of renewable energy capacity each. Among private firms, Reliance plans 20 GW and Axis Energy Group 28 GW of solar projects and 4 GW solar module manufacturing facility.