Govt to launch scheme for livelihood applications of distributed renewable energy
India’s power minister said the government will create a large program for distributed renewable energy livelihoods, like rooftop solar and solar irrigation schemes.
Green hydrogen demand to reach 2.85 MMT/annum by 2030
A new report estimates India will reach annual green hydrogen demand of 2.85 million metric tons (MMT) by 2030 under the current policy and project momentum. To meet this demand, it will need 62 GW of additional renewable energy capacity, 29 GW of electrolyzer capacity, and 11 MMT per annum of ammonia infrastructure, which together represent an investment opportunity of at least $57 billion.
Tata Power profit soars by 77%
Tata Power recorded a revenue of INR 56,033 crore and a net profit of INR 3,810 crore in FY 2022-23.
BluSmart raises $42 million to scale EV fleet, megacity operations
BluSmart Mobility secured $37 million in equity and $5 million in venture debt in its latest funding round. It will use the funds to expand its EV fleet capacity to 10,000 over the next one year and penetrate deeper into megacities.
Solar Ladder raises INR 11 crore in seed funding
Solar Ladder co-founder Abhishek Pillai told pv magazine they would use the funding to market and increase the sales of their software-as-a-service (SaaS) product to PV installers pan India. The company also plans to expand its customer support team.
REC lists $750 million green bonds on international stock exchanges at GIFT City
The green bond issuance was over-subscribed around 3.5 times from 161 investors.
Serentica Renewables secures additional $250 million from KKR
US investor KKR’s latest investment builds on its $400 million commitment to Serentica Renewables last year.
Avaada Group raises $1.07 billion for green hydrogen, ammonia ventures
Avaada Group has secured $1.07 billion to fund its green hydrogen and green ammonia ventures in India. The funding includes $1 billion from Brookfield Renewable and $68 million from Global Power Synergy Public Co. (GPSC).
IREDA reports record profit in FY 2022-23
Indian Renewable Energy Development Agency Ltd. (IREDA) recorded an all-time high annual net profit of INR 865 crore in FY 2022-23. The profit was up 36% over FY 2021-22. Loans sanctioned and disbursed also hit record levels.
SECI recorded over 59% jump in RE power trading volume during FY 2022-23
Solar Energy Corp. of India Ltd (SECI) traded over 35 billion units of renewable power during FY 2022-23. Revenue from power trading surpassed INR 10,000 crore.
