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