Orsted transitioned from a coal-intensive utility to a global renewable energy leader creating immense shareholder wealth. A new report looks at what strategic decisions led to this transition and learning for Indian companies to look forward to the future energy transition.
UK’s development finance institution CDC will invest $1 billion in green projects in India between 2022-26. Besides, UK has committed a new $200-million private and multilateral investment into the joint UK-India Green Growth Equity Fund that invests in Indian renewable energy.
The solar developer shall utilize the proceeds towards equity funding of the capex for its under-construction renewable projects.
Mumbai-based Reliance Industries and REC Solar have declined to comment on rumors that the Indian company might acquire the Norwegian PV module maker, in a potential transaction that Indian media outlets have already valued at $1 billion to $1.2 billion.
‘More than 90’ suppliers of appliances such as solar lanterns and home solar panels, as well as mini-grid installers, will be offered low-interest credit by an assortment of government-backed and privately-financed entities.
The UK-headquartered steel major is mulling to set up a 4.5 GW solar park in Rajasthan with an investment of INR 19,000 crore. It also plans to invest in Gujarat’s solar energy, wind energy, and hydrogen gas production sectors.
The outlook is supported by a strong project pipeline, competitive tariffs, and continued policy support. The demand outlook for domestic solar module manufacturers also remains favorable.
The latest renewables investment report produced by analyst BloombergNEF has noted backing for solar projects continued to rise in the first half as wind power investment fell back.
The Indian renewable energy sector received an investment of US$6.6 billion between April and July 2021, beating the total for the previous financial year.
Since 2014, Indian renewable energy developers have raised more than INR 78,200 crore through green bonds in global markets.
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