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Finance

Govt considering subsidy hike for residential rooftop solar systems with capacities up to 3 kW

Under the Pradhan Mantri Suryodaya Yojana for residential rooftop solar, the Indian government is considering an increase in the subsidy for grid-connected residential rooftop solar systems with capacities between 1-3 kW. This category of systems were offered a 40% subsidy in the previously launched scheme.

IH2A proposes $5 billion hydrogen transition fund

The India Hydrogen Alliance (IH2A) has proposed a $5 billion fund to support the development of large-scale hydrogen projects and H2 hubs, supply chain, sectoral H2 transition, national skilling, and H2 infrastructure in India.

Solar corporate funding hits decade-long high in 2023 globally

PV funding activity increased by 42% year-on-year in 2023, driven by strong growth in private market financing and debt financing, despite a decrease in the total number of deals, according to Mercom Capital Group.

Adani to build 1.35 GW of pumped storage, 100 MW data centre powered by renewables in Telangana

Adani Green Energy will set up 1.35 GW of pump storage projects with an investment of over INR 5,000 crore ($601.48 million) in the Indian state of Telangana. Adani Enterprises Ltd (AEL) will also invest over INR 5,000 crore in a 100 MW data centre, powered by renewable energy.

Torrent Power commits $5.7 billion investment in Gujarat

Torrent Power will develop 3,450 MW of solar power projects, 1,045 MW of hybrid power projects, and the solar park infrastructure for a 7 GW solar power project in Gujarat. It will also set up a 100 ktpa green hydrogen/green ammonia production facility in the state.

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GIFT City advances on platform for hydrogen trading

The Gujarat International Finance Tec-City (GIFT City) has partnered with the Indian Gas Exchange (IGX) and Gujarat State Petroleum Corp. (GSPC) to establish a global hydrogen trading mechanism.

Reliance, Jindal, Adani among winners of production-linked incentives for electrolyzer manufacturing

Eight companies emerged as winners in Solar Energy Corp. of India’s 1.5 GW electrolyzer manufacturing tender under the production-linked incentives scheme.  

Avaada to develop 6 GW of hybrid wind-solar projects in Gujarat

Avaada Group has signed an agreement with the government of Gujarat to develop 6 GW of hybrid wind-solar projects with an investment of INR 40,000 crore.

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REC raises about INR 3,500 crore via Japanese Yen-denominated green bonds 

Proceeds from the issue of the bonds will be applied to finance the eligible green projects.

Engie commits INR 17,200 crore investment in Gujarat

Engie will invest INR 17,200 crore towards the development of 2.5 GW of renewable energy projects by 2030 in Gujarat. It will also collaborate with the Gujarat government for decarbonization initiatives in the state.

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